In this P2B review, we’ll explore this growing cryptocurrency trading platform, discussing fees, pros and cons, and usability.

Our Verdict on P2B

The P2B exchange offers basic trading for hundreds of cryptocurrencies but also serves as a launchpad for new projects that need fundraising or a platform to promote and provide trading liquidity for new cryptos. Payment methods are limited compared to other exchanges. However, the exchange supports deposits for a wide range of cryptocurrencies, making it a solid choice for experienced traders looking for newer tokens.

Pros

• P2B offers a wide range of cryptocurrencies, including many hard-to-find tokens.
• Airdrops, trading competitions, and project-led earning pools offer additional ways to profit.
• P2B offers lower trading fees compared to Coinbase Advanced or basic-trade fees on many other platforms.
• Withdraw up to $1,000 (or crypto equivalent) daily without identity verification.

Cons

• Limited funding options make P2B better suited to experienced traders who can transfer crypto to the platform.
• The platform doesn’t explain risks or the source of yields for Earning products.

What P2B Does Well

New token launches: Its focus on new token launches makes P2B well-suited to bargain hunters who want to get in on new projects early.

Low-cost trading: You’ll pay just 0.2% for either limit or market orders, a fraction of the trading cost on Coinbase advanced, which charges 0.8% for market orders (0.6% for limit orders). Additional discounts based on trading volume can reduce trading costs further.

Easy-to-use platform: P2B offers an advanced trading platform that lets you trade with precision, but without the complicated controls you’ll find on other exchanges. P2B does not offer margin trading or futures, the absence of which simplifies trading screens on the platform.

P2B Overview

Cryptocurrencies Available for Trading on P2B

As a top-ten exchange for liquidity (assets available for trading), P2B competes with well-known exchanges like Coinbase and Kraken in regard to the number of tradable cryptos on the platform. The exchange boasts 186 USDT trading pairs with daily volume but also offers dozens of trading pairs based on BTC or ETH and other altcoins.

What is an Altcoin?

Altcoins refer to cryptocurrencies besides Bitcoin. Ethereum’s token, Ether, would be one example, although there are thousands of altcoins now available.

P2B Top USDT Trading Pairs

• BTC/USDT
• ETH/USDT
• MATIC/USDT
• BNB/USDT
• SOL/USDT
• AVAX/USDT
• DOT/USDT
• ADA/USDT
• LTC/USDT
• BCH/USDT
• SHIB/USDT

P2B Top BTC Trading Pairs

• CFT/BTC
• ETH/BTC
• BNB/BTC
• BDX/BTC
• CPC/BTC

Spot Trading Fees on P2B

Trading fees are based on trailing 30-day volume. P2B’s base tier (LVL 0) applies for traders with less than 1 BTC in 30-day trading volume. At the base tier, the cost for limit orders (maker fee) and market orders (taker fee) are both 0.2%, which compares well with exchanges like Kraken, which charges a 0.26% taker fee and 0.16% maker fee.

Levels are updated daily based on 30-day trading volume.

What Is Spot Trading?

Spot trading refers to crypto trades in which you take delivery of the asset. On the P2B exchange, this means you’ll hold the crypto you trade in your wallet on the exchange. You can also move your crypto off the exchange to a self-custody wallet. The term spot trading gets its name from the value of an asset right here and now, or “on the spot.”

P2B Trading Experience

Trading on P2B is straightforward. However, the platform separates buying from trading. Buying crypto on the platform refers to loading your account with USDT or one of five other cryptocurrencies using a third-party provider. Current choices include MoonPay and Simplex.

Available cryptos for purchase:

• USDT
• BTC
• ETH
• DOGE
• TRX
• LTC

USDT supports the most trading pairs (currently 186).

Of the two third-party crypto providers, Simplex offered the lowest advertised fees, although Simplex charges a minimum fee of $10.

Of note, the quoted rate (about 2%) was inaccurate, and actual buying costs approached 11%. Verify fees before purchasing, as fees and exchange rates can change with market conditions. Minimum charges apply.

As a more cost-effective alternative, P2B supports crypto deposits. If you have crypto elsewhere you want to transfer to the platform, P2B does not charge a deposit fee. Crypto network fees apply, however. Several low-cost networks like TRON and Polygon are supported for transfers in addition to Ethereum or Bitcoin.

How Do Crypto Transfers Work?

Crypto exchanges like P2B allow you to transfer crypto from another exchange or a self-custody crypto wallet. To transfer crypto, visit the deposits page from the Wallet menu and select the cryptocurrency you want to transfer. P2B will provide a wallet address and the blockchain to use for that specific cryptocurrency. Then, initiate the transfer using your wallet or another exchange using the address and blockchain information provided by P2B.

Trading for funded accounts proved intuitive, and the platform should be easy to use even if you’ve never used an advanced trading platform.

Full-screen TradingView charts with 102 chart indicators provide insight into market action.

P2B also provides a trading tutorial video linked from the trade screen, which includes a walk-through on moving crypto from your main account to your trading account and then completing a limit order.

Mobile App

P2B’s mobile app parallels the features found on the web app. An ever-present chat icon provides easy access to a P2B support bot that offers links to help pages based on your question.

We experienced occasional sluggishness with the mobile app, although trades and charts worked well, allowing full-screen horizontal viewing of charts.

Like the web app, buying and selling on the mobile app is intuitive, making the platform well-suited to beginners or experienced users.

Staking and Yields on P2B

The P2B exchange offers several ways to earn a yield on top cryptos like BTC, ETH, and USDT, as well as newer tokens like ZNX and EMMI.

Choose from three ways to earn a yield.

• Earning Pool: These are promotional offerings with rules determined by the token issuer. Locking periods and deposit requirements vary by offer.
• Flexible Earning: Deposit to earn a yield on top cryptos. Enjoy daily earnings and the ability to withdraw at any time.
• Locked Earning: Commit to a clock period of 7, 14, 30, or 90 days to earn a higher yield.

P2B requires identity verification to participate in Earning programs. Availability varies by region.

P2B Payment Methods

The P2B exchange supports several payment methods.

Crypto deposits:

• MoonPay (credit and debit cards)
• Simplex (credit and debit cards)
• Crypto wallet transfers (BTC, ETH, and hundreds of others)

Fiat deposits:

• AdvCash (not available in the US)
• PAYEER (not available in the US)

Expect payment fees of 3.5% to 5% – or higher – when using third-party providers like MoonPay or Simplex.

Minimum Deposit

While P2B does not have a minimum deposit for crypto deposits, third-party providers have minimum transaction requirements.

• MoonPay: $30
• Simplex: $50

Withdrawal Times

P2B supports USD withdrawals through Payeer or AdvCash. However, neither platform supports US users. AdvCash supports GBP and Euro withdrawals.

P2B Customer Support

Both the web app and mobile app feature a chat icon that connects to a chatbot that can point you to help pages. Typing “agent” in the chat opens an email prompt and an opportunity to describe your question or issue in detail. Expect a reply within 24 hours. We reached a friendly live agent within a few minutes as part of our P2B review.

The exchange also offers a telegram community where you can ask questions, and a Zendesk support portal offers FAQs and ways to reach out.

P2B was responsive via email, although the exchange does not offer a way to reach out by phone.

P2B reviews on Trustpilot earn a 3.0 out of 5 TrustScore for the exchange, which is higher than Kraken (2.1 out of 5) but lower than eToro (4.4 out of 5).

Customers on Trustpilot commented on withdrawals and similar issues, although most of the reviews were over two years old.

P2B Licensing & Security

P2B is headquartered in Lithuania and hosts an estimated 6.4 million monthly visitors worldwide, according to web analytics. However, in our review of P2B, we were unable to find any licensing or registrations in major jurisdictions like the FCA in the UK, CySEC in Europe, or FinCEN in the US.

P2B’s Terms of Use state that users should ensure compliance with local laws and regulations when trading, although P2B does block some features, such as token pre-sales and interest-bearing investments based on location.

The exchange implements several security measures, including end-to-end encryption to protect user data and two-factor authentication to secure logins. P2B also states that it uses cold storage for user funds.

CER, a cybersecurity rating platform, rates P2B as AA with an 88.3% overall score. By comparison, both Coinbase and Kraken earn a AAA rating from CER, whereas OKX and MEXC earn an A rating.

According to CER, P2B implements the following security measures and safety features.

• Penetration testing
• Bug bounty
• Insurance
• Proof of funds

CoinGecko, a leading crypto exchange data source, uses CER ratings as part of its TrustScore rating system.

P2B also requires identity verification to comply with KYC (Know Your Customer) regulations. Accounts without KYC cannot withdraw more than $1,000 per day from the platform.

What Could P2B Do Better?

Easier Account Funding

P2B differentiates itself from other exchanges by offering listings for new tokens. This makes the platform more attractive to experienced users who know how to research new projects and make educated buying decisions. Experienced traders can fund their accounts with crypto acquired elsewhere, but the existing ways of funding accounts with fiat currencies like the USD remain a costly option for new traders or traders who need to top up their accounts.

Improved Transparency

Earning with P2B provides a way to earn up to a 100% yield on crypto, but the platform could better explain how yields are generated as well as any risks to the consumer.

Our Methodology

Cryptonews.com is dedicated to providing unbiased reviews of cryptocurrency exchanges and trading platforms so our readers can make informed decisions.

Each exchange is rated based on usability, safety, trading costs, tradable cryptocurrencies, and several other factors. We also consider regulation and licensing, where applicable, insurance, proof or reserves, and similar consumer safety considerations.

Conclusion

In this P2B review, we found P2B to be easy to use, with low trading fees of just 0.2% for both limit and market orders — much lower than competitors like Coinbase. The exchange’s standout features revolve around airdrops and new token listings, making it an attractive option for traders who want to get in on new projects early. Payment options are limited compared to other exchanges, however, again making P2B best suited to traders who already have crypto they can transfer to the platform.

References

• https://p2pb2b.com/blog/earning-with-p2b/
• https://p2pb2b.zendesk.com/hc/en-us
• https://www.trustpilot.com/review/p2pb2b.com
• https://www.trustpilot.com/review/kraken.com
• https://www.trustpilot.com/review/www.etoro.com
• https://p2pb2b.com/terms-of-use/
• https://cer.live/exchange/p2pb2b
• https://cer.live/

FAQs

What are the fees for P2B?

P2B charges a 0.2% trading fee for both limit and market orders with additional discounts available based on volume.

Is P2PB2B a good exchange?

P2B is well-suited to experienced traders who want access to newer tokens or traders who already have cryptocurrency they can transfer to the platform for trading.

How much can I withdraw from P2PB2B?

Users can withdraw up to $1,000 per day without KYC (Know Your Customer) identity verification. Larger withdrawals require proof of identity.

Who is the founder of P2B?

Valerii Solodovnyk founded the P2B exchange in 2018, which originally was called P2PB2B.

The post P2B Review 2024 – Fees, Features, Pros & Cons appeared first on Cryptonews.

Skilling review: key features

Skilling is a regulated trading broker that operates worldwide. It offers over 850 financial instruments in different asset classes on an intuitive and user-friendly trading platform that can be accessed via a variety of trading clients. Other notable features of the broker include:

• Trade forex, crypto, commodities, stocks, indices, and more. Skilling is an excellent platform for traders seeking to gain exposure and experience in different markets by trading over 850 CFDs.
• Competitive spreads. Skilling spreads vary based on your account type, where Standard account spreads start from 0.7 pips, while Premium Accounts start trading from 0.1 pipis with a commission starting from USD 35 per million.
• Regulated broker. Skilling is regulated by CySEC and FSA, which ensure that the broker is trustworthy and reliable.
• Free demo account. Beginners can set up a Skilling demo account. It does not expire and can be easily upgraded to a Standard account.
• Up to 30x leverage. Skilling lets you leverage your trades up to 30x in Europe, and 500x worldwide.
• A wide selection of trading platforms. Access Skilling via the web browser, Skilling trader, Skilling cTrader, Skilling MetaTrader 4, or your mobile phone.

All in all, Skilling is an excellent trading broker that aims at beginners but is also suitable for professional traders. Although its spreads and commissions are not the lowest on the market, they are still very competitive, and its excellent user experience helps you get the most bang for your buck.

Background and history of the broker

Founded in 2016, Skilling offers online CFDs trading for traders all over the globe. The company is Scandinavian-owned and was founded by Henrik Persson Ekdahl, Andre Lavold, and Mikael Riese Harstad of Optimizer Invest. Skilling Ltd is incorporated in Seychelles but has offices in Cyprus, Malta, and Spain. The headquarters of Skilling is in Nicosia, Cyprus, where the company has obtained a CySEC license. Skilling Ltd. is also regulated by the Financial Services Authority (FSA), license no. SD042.

Ever since its foundation, the company has been on a mission to create “a unique trading platform designed to cater to traders of all levels.” The vision of Skilling is “to unlock the potential of the world’s financial markets for everyone.”

Skilling is run by The Skilling Group, an international team of 40 individuals from all over the world. Currently, the core management team of the company includes:

• Michael Kamerman, CEO
• Michalis Karakatsianis, COO
• Fiona Soler, CFO
• Lennart Clausen, Co-Founder, and Head of Trading
• Pavel Spirin, CCO
• Andrew Haigh, CIO
• Christoffer Hartman, Head of Legal

As of 2021, Skilling accepts traders from the following jurisdictions: Afghanistan, Aland Islands, Albania, Algeria, Andorra, Angola, Anguilla, Antarctica, Antigua & Barbuda, Argentina, Armenia, Aruba, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Cape Verde, Cayman Islands, Chad, Chile, China, Christmas Island, Cocos Islands, Colombia, Comoros, Cook Islands, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Falkland Islands, Faroe Islands, Fiji, Finland, France, French Polynesia, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guatemala, Guernsey, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Isle of Man, Italy, Jamaica, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montenegro, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, New Caledonia, Nicaragua, Nigeria, Norway, Oman, Pakistan, Palau, Palestine, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn Islands, Poland, Portugal Qatar, Republic of the Congo, Romania, Russia, Rwanda, Saint Barthelemy, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Vincent and the Grenadines, San Marino, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Georgia, South Korea, Spain, Sri Lanka, Suriname, Swaziland, Sweden, Switzerland, Syria, Sao Tome and Principe, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Turkey, Turkmenistan, Turks and Caicos Islands, Uganda, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, Vanuatu, Venezuela, Vietnam, Western Sahara, Yemen, Zambia, and Zimbabwe.

As a rule of thumb, if your country is on the list of countries during the registration, then citizens of your country are allowed to open an account with Skilling. If your country does not appear on the list, then your jurisdiction is not supported.

As a regulated broker, Skilling requires its users to pass know-your-customer (KYC) and anti-money laundering (AML) checks upon account registration. The procedure includes submitting the following documents:

• Name, surname, date of birth, and country of residence
• Tax identification number
• Full address
• Financial information like annual income, employment status, and source of funds
• Industry and occupation
• Reason for the trading
• Copy of passport or ID card
• Driving license and utility bill

The verification process is usually quick and you can expect to start trading the next business day if everything goes well.

Skilling fees

Skilling has a transparent fee structure, which mainly depends on your account type. The broker charges competitive spreads of 0.7 pips on Standard accounts, while Premium users can trade with spreads that begin at 0.1 pips and a nominal value fee of 0.006%.

Skilling also calculates different swap rates for positions held overnight based on the asset class. These can be found in the Advanced Info tab of the Skilling Trader platform or the Specifications tab in the MetaTrader.

There are no additional withdrawal fees on Skilling, but there are inactivity fees for accounts that have been inactive for more than 12 months. It will cost you an additional 10 EUR fee, so be sure to deactivate your account in case you decide to stop using it.

Design and usability

Skilling attracts users by providing access to a wide variety of assets, including currencies, crypto assets, commodities, stocks, indices, CFD equities, and much more. As such, it is an excellent platform for people who want to try their strategies in a variety of different markets.

Current, it offers the following variety of tradable products:

• Forex. Skilling has over 70 top currency pairs for Forex enthusiasts.
• Indices. Trade more than 15 top indices, including S&P 500, Nasdaq 100, Dow & Jones 30, Germany 30, UK 100, and others.
• Stocks such as Apple, Google, Amazon, Facebook, Tesla, and many others.
• Commodities. Trade a varying amount of commodities, including Gold, Silver, Oil, and Natural Gas.
• Cryptocurrencies. Trade top crypto assets without actually acquiring the underlying asset.

At the moment, Skilling provides access to the following crypto CFDs:

• Bitcoin (BTCUSD)
• Bitcoin Cash (XBNUSD)
• EOS (EOSUSD)
• DASH (DASHUSD)
• Monero (XMRUSD)
• IOTA (IOTAUSD)
• NEO (NEOUSD)
• Litecoin (LTCUSD)
• Ethereum (ETHUSD)
• Ripple (XRPUSD)

When it comes to trading via Skilling, you will notice that it has a dedicated in-house trading platform to provide unique experiences for its customers. It is accessible via browser and has a clean design, which makes trading easy even for novice traders.

The platform features approximately 70 trading indicators, allowing for professional technical analysis as you trade. Besides, you can choose the best visual preferences in chart layouts, access trading history, account balances, and browse markets with ease.

Order placing is neat and easy, too. You can set either a market or limit orders, as well as set stop loss and take profit levels for positions.

Asides from the web browser, Skilling is also accessible via Skilling cTrader, Skilling Trader, and Skilling MetaTrader 4. You can download these apps directly from Google PlayStore or Apple AppStore. The apps feature the same functionalities as the web-based platform, so you can trade wherever you are as long as you have a stable internet connection.

Professional traders might want to access advanced trading features such as automated strategies, copy trading, and custom indicators, which are available if you connect to Skilling via MetaTrader 4 trading terminal.

Beginners might enjoy Skillings Trade Assistant, which is designed to help you place your first trade while explaining the basics of trading.

Demo account

Complete beginners or individuals who want to try Skilling before making a deposit can open its demo account. The demo account gives you a virtual balance of USD 10,000 to test your trading strategies and get a feel of the platform.

This is entirely risk-free, meaning that it’s also a safe zone for newcomers. Unlike with other forex trading platforms, the Skilling demo account has no expiry date.

You can sign up for a Skilling demo account via their website. If you like it, you can upgrade to it a standard account with a single click of a button later on.

Customer support

Skilling has a readily available customer support team that works 7 days per week from 8 AM to 9 PM EET. They can be reached via a variety of channels, including:

• Email: support@skilling.com
• Webchat on the website
• Help desk
• Phone: Cyprus: +357 2227 6710
• United Kingdom: +44 208 080 6555
• Norway: +47 2195 03000
• Sweden: +46 40 6450 022
• Germany: +49 322 2999 0101

Security

Skilling is a CFD trading broker, meaning that it does not hold the underlying assets that trade on its platform. By opening a position with Skilling, you simply make a bet on whether the price on the underlying asset is going to appreciate or depreciate until you close your position. This mode of trading eliminates numerous risks associated with cryptocurrency custody, so you can be sure that hackers are not going to steal your funds from the platform.

On the regulatory side of things, Skilling is regulated by the Cyprus Securities and Exchange Commission (CySEC), under a license no. 357/18. Obtaining this license requires a high degree of security, which Skilling provides by creating a secure digital environment using SSL data encryption. This protects your personal data, money, and ensures fair trading practices.

Apart from that, Skilling has its own team of developers and support team, meaning that the company is capable of identifying potential issues and promptly fixing them. As such, it is considered to be a relatively trustworthy and secure trading broker.

Deposits and withdrawals

Skilling has numerous commission-free deposit and withdrawal methods that should suit everyone’s needs. The most convenient ones include Visa/Mastercard, Trustly, Skrill, Neteller, Swish, and Klarna.

Unfortunately, Skilling does not support deposits and withdrawals involving cryptocurrencies or e-payment platforms like PayPal.

Skilling covers most of the deposit and withdrawal processing fees on the behalf of the user, but you may still incur fees charged by an intermediate institution or payment services like Skrill or Neteller. A minimum deposit starts from USD 100 or its equivalent in other currencies.

Skilling review: Conclusion

Skilling is a versatile trading platform that is designed for beginners but is suited for professionals, too. It’s filled with educational resources, is easy to use, has a competitive fee structure and a wide variety of tradable assets. Overall, it is one of the most user-friendly CFD trading platforms out there.

The post Skilling appeared first on Cryptonews.

With members in more than 140 countries, Haru Invest has accumulated total transactions exceeding $2 billion. Its in-house traders manage user funds based on algorithmic trading and strive to provide competitive returns in the long haul.

Our Haru Invest review explores the platform’s offerings and how they benefit investors. 

What is Haru Invest?

Haru Invest is an investment platform for crypto enthusiasts seeking to increase the amount of their assets. 

The company boasts a team of traders managing assets by algorithmic trading and also offers interest on staked coins, as well as a feature allowing investors to swap cryptocurrencies.

The platform claims to retain 87.5% of investors who deposit money and prioritizes asset safety, not being exposed to a single security breach. 

It supports five tokens – BTC, ETH, USDT, USDC and XRP – is not decentralized and was founded in South Korea and has its HQ in Singapore.

Visit Haru Invest

Earning Crypto Interest on Haru Invest

Investors can choose several options to earn interest on their crypto with Haru Invest. Each avenue provides various interest rates and requires investors to lock up their coins for a specified period.

Two ways investors can earn interest are via Earn Plus and Earn Explore

Earn Plus

Haru Invest has made this feature flexible. Investors can lock up their assets for any period they wish and can withdraw their earnings at any time. Investors can choose to lock up Bitcoin of some of the best altcoins for 15 to 365 days. Higher earnings are yielded for longer lock-up periods.

Investors choose the amount to invest, and their earnings are automatically reinvested daily. Once investors decide on the lock-up period, they cannot withdraw the principal prematurely and no additional deposits are accepted during that time.

The earning rates on an Earn Plus account change based on the performance of Haru Invest strategies and are adjusted every two weeks. Investors can catch up to the latest earn rates on the Haru Invest Medium.

Haru Invest provides an estimate calculator, enabling investors to check their potential earnings for different lockup periods.

As an example, locking up 1 Bitcoin for 365 days will provide 12% interest approximately. The best part about this service is that there is no fee to make deposits into an Earn Plus account.

To ensure the safety of investors’ assets, Haru Invest transfers them to a cold wallet managed by Block Crafters. 

Earn Explore

The other option to earn interest is Earn Explore, providing higher returns than Earn Plus but also higher risk. 

Earn Explore is an automated investment option requiring investors to choose a trading strategy that the algorithm constantly monitors the market for and enters positions likely to provide profits.

Investors can also check out Haru Invest Earn Explore performance updates on the Haru Invest Medium.

Earn Like the Best

Investors only select the strategy while the algorithm enters buy and sell positions. Earn Like The Best strategy emulates positions of the global top trading firms, targets a rate of at least 25% and requires a Bitcoin investment for a minimum of 3 months.

Surf with the Volatility

The Surf with the Volatility strategy exposes investors to high returns when the market is volatile. That also means higher exposure to risk if a trade is unfavorable.

This strategy seeks to provide returns of 25% and higher for USDT, which needs to be invested for at least 1 month. The minimum amount required for the investment is $10, and Haru Invest doesn’t charge a management fee. 

A performance fee of 15% of the total profit applies only if returns exceed a 15% annual percentage rate (APR). 

Beyond Staking

A less risky strategy to earn interest on assets is by staking. Haru Invest enables investors to earn up to 21.5% annually by staking Ethereum. 

A minimum investment of 3 months is required and 0.005 Ethereum on Haru Invest’s staking platform.

The other earning option is to become a liquidity provider by locking up BTC, ETH or USDT. Earnings are based on the crypto market’s value, an investor’s contribution ratio of the swap pool and the Haru Invest Switch order volume.

Haru Invest APR and Interest Rates

Haru Invest offers various interest accounts, and we have made it convenient for investors to compare the potential rates that can be earned.

Start Earning with Haru

Other Haru Invest Features

One of the reasons investors across the globe use Haru Invest is because it offers investors several methods of earning interest. Two additional ways are Switch and Freeze, while the site also offers regular promotions.

Haru Invest Wallet

The Haru Invest Wallet is the gateway for the other products offered by the platform. 

Generated automatically, users can earn up to 4.5% APR on BTC, 4.2% on ETH, 6% on USDT, 4.5% on USDC and 2.5% on XRP.

The wallet features limitless withdrawals 24/7 with no lockups and earnings are compounded daily.

Switch

Haru Invest has simplified the process of obtaining crypto by offering a swap platform so that investors don’t have to scout various exchanges to find the assets they desire.

It functions as a crypto exchange with transparent pricing and strong security features. Haru Invest has designed the platform to accommodate beginners, simplifying the transaction process. However, it has also provided advanced functions for investors wanting to take advantage of different order options.

The pool consists of the community’s asset contribution. Switch enables contributors to earn from swap transactions. Using this feature allows investors to enjoy competitive pricing and no gas fees. 

Investors desiring the convenient option just need to pick a crypto pair to switch, set a market or order rate and then enter the amount to switch. The system will generate an estimated total for preview.

The platform’s liquidity staking program enables providers to earn rewards after swaps are completed. A service fee of 0.2% is added to the investor’s total order and charged after the order is completed

Investors can become a liquidity provider by joining the Earn Explore — Farming Just Got Easier feature and can swap assets only in their Haru Invest wallets and not the ones that are locked up.

Freeze

The Freeze feature enables investors to earn higher returns for buying and selling assets without lockup limitations. This feature enables investors to create a new investment by combining crypto and digital art and receiving rewards for their collection.

To receive Frosts, investors freeze Earn Plus lockups. Frosts can be deemed as a collectible form of Earn Plus that has an intrinsic value. They consist of different shapes and colors. Haru Invest offers seven unique Frosts for each asset type, and the shapes and colors depend on the amount of crypto in the Earn Plus lock-up that investors froze.

The Freeze marketplace enables investors to sell their Earn Plus lockups and Frosts, then buy discounted ones to enjoy further redeemable benefits.

Investors who collect a full set of Frosts and complete a collection receive a collectible reward known as a Crystal — unique graphic to celebrate each completed collection.

Crystal rewards can be a discount on the Earn Explore management fee, Earn Plus earn rate boost or crypto provided in Earn Plus lockup.

A key benefit of buying on the marketplace is that investors get a higher yield than the remaining period. To sell Earn Plus, an investor has to convert it to Frost. Investors can then melt Frost after purchase to change Frost into Earn Plus.

Frosts and Crystals aren’t NFTs because they can’t be exported and traded on other platforms. However, Haru Invest is working on the export feature.

Promotions

Haru Invest offers regular promotions throughout the year which many users come and stay for.

For example, from December 23, 2022, to January 5, 2023, Haru Invest will offer the following holiday savings:

• 3% more on earnings with an Earn Plus lockup
• 2-day flash sale (Jan 4 & 5, 2023) to buy Frosts at a discounted rate

Visit the Haru Invest seasonal earnings website for full information.

Haru Invest Platform Security

Besides earnings and fees, investors need to analyze the security that yield farming crypto platforms offer.  

Haru Invest does not lend investors’ assets to provide earnings. It uses an algorithm trading model to generate stable earnings. The trading strategies are evaluated to assess the risk and profitability. 

The in-house trading team manages the assets without using CeFi or DeFi platforms. Haru Invest doesn’t use high-risk strategies to adjust to price fluctuations and instead uses mid-high frequency trading.

The multi-layer security system Haru Invest instituted requires investors to complete various stages of a transaction to process it. The assets are transacted through BitGo, which also serves as a custody provider and protects keys with a hardware security module.

Haru Invest implements Know Your Customer (KYC) and Anti-Money Laundering compliance standards. It also uses Know Your Transaction (KYT). Investors can activate a 2-Factor Authentication to have an added layer of security. 

Customer Service

Haru Invest’s platform is simple to use, yet it provided a help center to assist users in navigating the platform. The guides help new users understand what services Haru Invest offers and how they benefit investors.

Further explanations about this platform are available in the FAQ section. Otherwise, investors can submit a form to request more information from support.

Haru Invest has divided its help center into different categories, enabling users to navigate efficiently to the information they seek. Investors seeking immediate feedback can access the live chat, available from Monday to Friday.

Besides learning about the Haru Invest wallet and how to earn, investors can also find out more information about the Luminary Club loyalty program, which is for distinguished members and the referral program, open to all users.

Haru Invest Mobile App

On-the-go investors who want to earn and benefit from this platform wherever they are will enjoy Haru Invest’s mobile crypto app. It’s available on iOS and Android and provides all the features found on the desktop version.

The features are designed to make investing on a mobile screen convenient while reducing eye strain with dark mode. The app provides easy login with biometric authentication and enables investors to track their performance by receiving notifications.

Haru Invest made the login simple and secure by offering a Face ID feature. The features of Haru Invest wallet, Earn Plus and Earn Explore are designed to enable investors ease of navigation to start earning money.

Download Haru Invest Mobile App

How to Use Haru Invest

Although Haru Invest’s website is easy to navigate, we’ve made the process of investing on this platform even more convenient with a step-by-step guide.

Step 1: Open an Account

Visit Haruinvest.com and click ‘Start Earning’ in the top right corner.

Enter an email and a password, then click ‘Sign Up’ at the bottom.

Step 2: Verify Your Details

Haru Invest upholds high standards to ensure investor assets are protected. It requires each user to identify themselves via the KYC process. Users will need to verify their emails and upload documents to prove their identity.

After the verifications, click ‘Get started’.

Step 3: Choose How to Invest

At the bottom of the screen, investors can select Earn to access the different rewards products. Other options include Switch and More — enabling investors to personalize their accounts, set notifications enabled 2FA and view transaction history.

Investors can choose Earn Plus or scroll down to choose the Earn Explore option.

Step 4: Set Investment Goals

The Earn Plus option requires investors to choose their ideal asset by clicking the drop-down arrow at the top, then selecting the desired lockup period by sliding the scale to the right.

After setting those parameters, click ‘Get Started’.

Conclusion

Haru Invest enables investors to earn crypto in various ways. Investors can lock up their coins or opt for higher rewards and risks with algorithm trading. 

The in-house team manages investors’ assets, and Haru Invest provides a multi-layer security system to ensure assets are safe.

Investors can access the platform from any location via the mobile app, offering the key features found on the desktop version.  

Haru Invest’s platform is easy to navigate but investors can use the help center for more information or enter a live chat.

Visit Haru Invest Now

FAQ

What is Haru Invest?

Haru Invest is a platform allowing investors to earn crypto by locking them up, algorithm trading or contributing to the liquidity pool. It enables investors to choose a strategy aligned with their goals.

What products does Haru Invest offer?

The two main products are Earn Plus and Earn Explore. Earn Plus enables investors to earn up to 13% APR by locking up their coins and Earn Explore is automated investing, with an algorithm following the strategy investors choose.

Haru Invest also provides an exchange called Switch, enabling investors to swap cryptocurrencies and earn rewards by contributing liquidity to the pool.

Is Haru Invest safe?

Haru Invest has partnered with BitGo to serve as a digital asset custodian. It offers a multi-layer security system that investors have to go through to finalize a transaction. Investors have to verify their identities via a KYC process, and asset protection is strengthened by activating 2-Factor Authentication.

Does Haru Invest offer a mobile app?

Yes. The mobile app offers the same features as the desktop version and in a convenient format that enables on-the-go investors to earn money even when they don’t have access to their computers. 

The post Haru Invest Review appeared first on Cryptonews.

Bitvavo review: key features

Bitvavo exchange comes with a number of desired features that can be found on its platform.

• Premier destination for European traders. Bitvavo lets you trade over 180 digital assets and is a useful EUR onramp and offramp for over a million active European traders.
• Ease of use. Bitvavo is a user-friendly exchange that includes advanced trading features for more seasoned traders.
• Low fees. Bitvavo’s trading fees range from 0.03% to 0.25% per trade, making it some of the lowest fee exchanges in the industry.
• Focus on security. The exchange puts an emphasis on security and risk management, thus giving its users all the necessary tools and protection to keep their accounts safe.
• Staking rewards. Bitvavo has an option for staking crypto assets and earning a yield.

Bitvavo’s staking services consist of off-chain and on-chain staking services. The former enables users to earn rewards on available and idle account balances in their accounts, while the latter provides an option for users’ digital assets to actively participate in transaction validation on a proof-of-stake (PoS) blockchain.

The staking services are available for 20 digital assets listed on Bitvavo, in the range between Chainlink (LINK) and VeChain (VET)’s ~ 0.49% and Cosmos (ATOM)’s ~ 10.0%. The assets include Bitcoin (BTC) ~ 0.77% and Ethereum (ETH) ~ 1.01%. A user only needs to opt in for staking services, and the option will apply to all available and supported digital assets on their account. They can opt out at any time. Users are also able to trade and withdraw the digital assets participating in the staking program.

All in all, the Bitvavo exchange seems to be a decent option for European cryptocurrency enthusiasts and people looking for a one-stop shop for various crypto assets.

History and background

Bitvavo is one of the leading centralized European cryptocurrency exchanges that facilitates nearly USD 100,000,000 worth of cryptocurrency trades on a daily basis. Launched in 2018, the exchange is located in Amsterdam, Netherlands. It operates in 29 European countries and has been regulated and registered with the Dutch Central Bank (DNB) since November 11, 2020.

Although registration as a provider of digital asset services makes Bitvavo more trustworthy, it only covers Bitvavo’s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and the 1977 Sanctions Act. It does not mean that Bitvavo meets financial requirements or that its business risks are monitored by DNB, and there’s no specific customer protection.

The company stresses its values, which are:

• Transparency – aiming to be as transparent as possible in fees and other communications.
• Accessibility – building a platform and products that can onboard anyone.
• Forward-looking – believing in the digital economy and the future it is aiming to bring.

The exchange’s official headquarters are located in Keizersgracht 281, 1016ED, Amsterdam, The Netherlands. It is incorporated as Bitvavo B.V., and its Dutch VAT payer number (KvK) is 68743424. 

Bitvavo fees

Bitvavo users enjoy some of the lowest trading fees among prominent cryptocurrency exchanges. New users are charged 0.25% for taker trades and 0.15% for placing maker offers, but they can also reduce their fees by increasing their trading volume and moving to a higher trading fees tier.

There are nine trading fee-based tiers at Bitvavo, primarily based on your cumulative trading volume during the last 30 days. For example, if it exceeds EUR 25,000,000 per month, your trading fees are reduced to 0.04% for takes and 0.03% for maker orders.

Regarding deposit and withdrawal fees, Bitvavo crypto deposits come free of charge (except for transaction fees that are paid on your behalf). As a regulated platform, Bitvavo also accepts EUR deposits which can be made via eight payment channels. Note that SEPA transfers are free of charge.

Like most competing exchanges, Bitvavo charges its users fees for cryptocurrency withdrawals. While the fee itself varies based on the blockchain congestion, there’s always a minimum amount for each different crypto asset that will be charged. Amongst the most popular cryptocurrencies, they are as follows:

For the complete and most up-to-date Bitvavo fees information, please check the exchange’s fees page.

In sum, the Bitvavo exchange offers some of the most competitive fees among the European cryptocurrency exchanges.

Design and utility

Bitvavo lets you trade and store more than 180 digital assets to get with more than 1 million active users on its platform. So far, this has led to over 100 billion in total exchanged volume and 13,500 reviews on Trustpilot with an average score of 4.2 out of 5.

Bitvavo platform can be accessed via a web platform and a mobile app. Both can be used interchangeably and grant you access to the platform’s core features.

Signing up on Bitvavo

Singing up on Bitvavo is a relatively simple process and can be completed via both the web platform and the mobile app. The exchange does make you go through a lengthy KYC/AML check where you have to indicate your source of income and share personal identification information, but it does not take too long to get your account verified. 

At pixel time, Bitvavo operates in the following countries:

• Austria
• Belgium
• Bulgaria
• Chech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Greece
• Hungary
• Ireland
• Italy
• Latvia
• Liechtenstein
• Luxembourg
• Lithuania
• Malta
• Netherlands
• Norway
• Poland
• Portugal
• Romania
• Slovakia
• Slovenia
• Spain
• Sweden
• Switzerland
• United Kingdom

As a purely European exchange, Bitvavo does not accept customers from other countries than those listed above, including the United States.

Sign up process can be completed via Bitvavo’s mobile app or web platform. In either case, you’ll be prompted through the same process with the same questions, including the source of your funds, personal ID or driver’s license, and proof of personal address, so be sure to have these documents with you during the process.

Your account should be verified as soon as you complete the process.

Bitvavo web platform

Once you sign up on Bitvavo and verify your identity, you are free to make your first deposit and take advantage of all the features offered by Bitvavo. These include:

• Deposit and withdraw EUR to and from the platform.
• Trade more than 180 crypto assets.
• Store your crypto assets on Bitvavo’s ‘hot’ wallet.
• Withdraw purchased cryptocurrencies to your private crypto wallets.
• Keep track of your portfolio’s value over time.
• Stake cryptocurrencies for additional ‘passive income.’
• Enter the ‘Bitvavo Advanced’ trading area for a more immersive trading experience.

Bitvavo’s web platform is designed with simplicity in mind. All you need to do is select a crypto asset of interest, click on it, and the platform will lead you to an asset overview window, where you can find the asset’s price chart, read the latest news about the project, as well as buy or sell your stack. Additional tabs of the web interface also let you view the asset’s transaction history for your account, enter the staking management window for the asset, and manage deposits and withdrawals.

Experienced traders might want to switch to Bitvavo’s ‘Advanced’ interface, where the exchange lets you rich trading features such as a candlestick chart where you can draw your own technical price analysis, place limit, market or stop limit orders, observe the market order book, and depth in real-time, and seamlessly switch through different trading pairs and observe their recent trades. Although the ‘Advanced’ section offers more options for traders, it can be too overwhelming for beginners. 

Bitvavo mobile app

Bitvavo’s mobile app is just as neat as its web terminal, if not neater. It offers all the main features of the main platform, including depositing and withdrawing assets (including EUR), completing identity verification, performing trades, and managing your staking activities. 

The app does not include advanced trading features of the exchange, though, which might be a minus for experienced traders who must manage their trades on the go but nevertheless is a great companion for the main platform.

Bitvavo customer support

Bitvavo’s support can be reached via multiple channels, namely:

• Bitvavo support: support@bitvavo.com
• Bitvavo compliance: compliance@bitvavo.com
• Bitvavo complaints: complaints@bitvavo.com
• Bitvavo Helpdesk

According to Bitvavo reviews on Trustpilot, the customer support team is typically highly responsive, warm, and helpful, so reaching out in case of further questions, feedback, or help might be a good idea.

Bitvavo security

When it comes to security, Bitvavo cryptocurrency exchange boats of having ‘industry-leading security.’ In truth, the exchange has not experienced large-scale security breaches except for several phishing attacks aimed at its users – something that no exchange can willingly avoid if its users are not adhering to the principles of cybersecurity.

On its website, Bitvavo claims that its employees follow strict security protocols and screening procedures. When it comes to personal account security, the platform recommends enabling two-factor authentication (2FA) and setting up an anti-phishing code, and it also lets you control enabled devices. Bitvavo users can also whitelist their crypto addresses, make use of Bitvavo’s permission-based access, as well as IP whitelisting.

On the platform side of things, Bitvavo employs robust data monitoring and threat identification techniques embedded in the organizational design. The vast majority of the exchange’s digital assets are held in offline cold wallets in discrete, secure locations with strict access controls and 24/7 monitoring. According to Bitvavo, their vaults meet category 4+ requirements, which is the highest security category in the Netherlands. Large transfers out of the exchange’s custody are initiated and approved by a select group of the exchange’s executive members via a multi-signature scheme, which means that they must be approved via manual verification from multiple individuals. Besides, its custody providers are said to be insured for up to USD 250 million, says the exchange’s website.

In case of misfortune, Bitvavo offers a “Bitvavo Account Guarantee,” which promises to reimburse its users for up to EUR 100,000 in case someone manages to access their funds without proper authorization.

The Bitvavo Account Guarantee is not a regulatory requirement, but a pilot launched voluntarily. It is currently available to eligible users and in eligible cases, and only once per user. To be eligible for reimbursement, users must have all the necessary KYC steps completed, and their accounts must be open for at least 30 days after becoming eligible to trade.

Unauthorized withdrawal of crypto or euro is covered by this option, as well as situations when funds were removed without authorization, such as in the case of a sim swap attack. Incorrect transactions, loss of profits, and buying, selling, or sending crypto are not covered by the Bitvavo Account Guarantee.

Overall, it can be said that Bitvavo takes its security seriously and provides a wide array of tools for its users to protect their digital assets from unauthorized access.

Bitvavo review – conclusion

Bitvavo is one of the fastest growing cryptocurrency exchanges in Europe for a good reason – low fees, transparency, security, and unparalleled customer service combined with ease of use, quick transfers, and advanced trading features make it a premier choice for anyone seeking to start their journey into the fast and risky yet still so exciting world of borderless finance.

The post Bitvavo appeared first on Cryptonews.

SwissBorg Review Summary: Key Features 

As a wealth management app that offers crypto access to its customers, SwissBorg is well-positioned to offer all of the perks and advantages that the traditional finance sector has enjoyed for a longer time. Here are some of its key features:

• App only. While some may prefer trading both on desktop and within a mobile app, the former option is unfortunately not available here — but the app is very well optimized for its medium, letting you take your portfolio with you anywhere.
• Low, transparent fees. Fees can (and do) cause headaches for anyone, but the SwissBorg app offers a transparent overview of them, with the minimums and maximums that can be charged as well, as they limit both so you don’t overpay if you’re a large volume investor.
• Robust KYC measures. Within the crypto sphere, this can be seen as both a pro and a con; some prefer the security that comes from regulation, which also includes relinquishing your private information, while others much prefer their privacy to any benefits they would otherwise get. SwissBorg is an app for the former type of person, as you will not be able to use it until you have completed your account verification.
• Very experienced team. Most of SwissBorg’s team comes from the traditional finance world, having worked within wealth management or adjacent areas before joining forces to launch this project, which gives them a thorough understanding of the space that is very well applicable to crypto as well.
• Premium accounts. Users who own a large amount of the app’s native CHSB token and are willing to stake it for at least a year will receive perks such as lower fees and higher yield returns on other staked assets.
• Transparency and accessibility. Not only is everything within the app very well explained so even complete beginners can feel secure using it, but everything that you can do has its steps laid out for you to follow the process if you want to.

SwissBorg Background and History 

SwissBorg was started back in 2017 in Lausanne, Switzerland. Its founders, Cyrus Fazel and Anthony Lesoismier, are still with the company in the positions of CEO and CSO, respectively. At launch, the company raised USD 53m in an initial coin offering (ICO). 

SwissBorg has aimed to include their community in their decision-making process as much as possible, so they had two major referendums in 2018 alone. The first was meant to gauge users’ preferences between a mobile app and a responsive website, with the mobile app option taking the majority of votes and more than 4,000 users participating. The second referendum of the year asked what ICO category the platform would focus on next. All these referendums were powered by their native CHSB token as a means of voting.  

The SwissBorg team comes from a strong finance background. The company’s CEO, Cyrus Fazel, worked as Senior Hedge Fund Advisor at SEQUOIA Asset Management for two years, while Lesoismier spent five years at JD Brokers prior to starting the company. Similar with the rest of the team: Jeremy Baumann, the Chief Financial Officer, spent years at the Lombard Odier Group, most recently as equity portfolio manager; Christophe Diserens, who is now the Chief Compliance Officer of SwissBorg, was the Vice President at EFG Bank previously, where he spent almost a decade; while Alexander Petoud, the company’s Chief of Staff, spent six years at Pictet Wealth Management in various roles. Right now, the SwissBorg team is made up of people from more than 20 countries. 

SwissBorg holds a Virtual Currency Service License by the Estonian regulator that handles crypto-related businesses. The company is also self-regulated in Switzerland by VQF, and in April 2022 was registered as a PSAN (digital assets service provider) by France’s AMF. The company

SwissBorg is based in Switzerland, with offices within the same country, as well as the UK, Portugal, and Estonia. The platform is available in more than 110 global countries and territories, but the extent of their availability depends on the territory in question; their supported countries page has a detailed list of all the areas where they offer their services and whether fiat, crypto, stablecoins, and/or local currencies are supported there. The company does not accept clients from the United States.

Users of the platform need to go through a KYC process before they can use their services. These are separated into three levels, each of which requires specific personal information and posits different transaction limits. The first level, which requires Proof of Identity, limits deposits and withdrawals to EUR 5,000, which may be enough for low-volume traders; however, to go beyond that, you will also need to submit Proof of Residence to attain the second account level which raises your deposits to EUR 50,000 and withdrawals to EUR 1m. For the final account tier, once you’ve submitted your Proof of Funds (and once they’ve been accepted), all restrictions on deposits and withdrawals are lifted. 

SwissBorg Fees 

When it comes to crypto assets, SwissBorg does not charge any deposit fees (you will, of course, still be on the hook for the network fee when sending out the funds from your personal wallet, but this is usual with all types of wallets). The same is true for fiat currencies; while the bank or platform you’re sending the funds from may charge something, this is not the case with SwissBorg itself.  

On the other hand, the platform does charge withdrawal fees for both crypto and fiat. As a rule, withdrawals are 0.1% of the total amount, but the platform does have some minimum and maximum fees that can be charged when you’re withdrawing. For example, you will never be charged less than BTC 0.0002, but also not more than BTC BTC 0.0029 at any given time, no matter how small or big your withdrawal is. The same logic applies to all available fiat currencies, with the detailed list of the minimums and maximums available on their website.  

Exchange fees, which are charged on pairs by using the higher of the two assets’ fees, are almost always constant: on a standard account, every crypto asset’s fee is 1%, while fiat currencies do not incur a fee at all. The SwissBorg app also offers a range of Premium tiers for app users, with the Explorer Premium account available when staking 500 CHSB tokens a year, offer a 1.25X yield boost, while the Generation Premium account offers 50% off fees and a 2X yield boost when locking 20,000 CHSB tokens per year. The middle tiers – Community Premium and Pioneer Premium – also offer yield boosts and fee discounts.

SwissBorg Design and Usability 

Since the platform is app-only, meaning that it does not have a web browser-based platform, you will first need to download the app from the corresponding app store, depending on your device’s operating system. This may be considered a drawback by some; while mobile devices are extremely useful when it comes to trading on the go, many still prefer the wider overview they can get by using a web platform in parallel.  

Signing up for SwissBorg is quite the process: the app has an extensive Know-Your-Customer (KYC) procedure that ensures you’re from a supported country and that your identity is fully known by them. To start with, you will need to provide your mobile phone number that will have to be confirmed through a code that they send you via SMS. You will also have to set up a four-digit PIN that will help you log in later. Then, you need to provide your legal name as it appears on your identity document, date of birth and nationality, after which you will also need to enter your residential address. Before using the app, you’ll have to choose an identity document, take a photo with it and upload it into their system, and wait to get verified by their team. Once this phase is complete, you’re free to use their app. For most users, this verification is completed automatically in less than 10 minutes.

As we’ve already covered in a previous section, this KYC level is only the first and has a EUR 5,000 limit on depositing and withdrawing. This means that, if you need to raise that limit, you will need to pass additional checks, but this is not obligatory.  

Once you’ve completed this process and reached the KYC account level that you need for your own trading and investing purposes, the actual trading and investing in the app is quite simple and straightforward. When buying tokens, you can filter them by selecting which crypto-related niche you’re interested in, like the metaverse, stablecoins, early projects, etc. This lets even beginners find their feet quickly, but also discover projects they may not have known about previously, which also helps projects find adopters and drive their reach in a more efficient manner. Under the Earn tab, you can find the projects that offer a certain yield percentage — which will be shown under its graph as the highest return that was made within the app — so you can choose one of these and potentially generate passive income, if the markets are so inclined. 

Performing an exchange is exceedingly simple. You simply choose the currency you want to exchange, the one you want to receive in return, and the app calculates the optimal execution price, based on the live rate obtained from different exchanges on a constant basis. The process is also very transparent: every detail of the execution will be shown to you once it is completed, which includes the path taken, the rate at every step, the date, and the service fee. To execute an order, there is a minimum and maximum amount: the minimum is 5 USD / EUR / GBP / CAD or the equivalent of it in digital assets or CHSB tokens, while the maximum is 20,000 USD / EUR / GBP / CAD or the equivalent of it in digital assets or 5,000 CHSB Tokens. 

The app also shows you the profit and loss formulas in the top right corner of the Portfolio tab. The formulas themselves are also listed in their Help Center, which means you can find them here. This can help you make the best choice when it comes to investing and trading, but also simply stay informed as SwissBorg strives to keep everything aboveground and transparent for their customers. 

Finally, as we previously mentioned, for customers who want to profit off of the funds they hold, SwissBorg offers a Smart Yield option. This is available for USDC, BTC, and ETH tokens, where you can assign a portion or all of your balance to a Smart Yield wallet. You then earn a daily return on your yield balance. All yields earned are reinvested which can compound your returns over time. The funds earn a yield every 24 hours, after which they can be withdrawn, but they can also be left in the account to boost the next batch of the yield.  

The app also offers a SwissBorg Premium account. This is achieved by staking a certain amount of CHSB tokens, starting from CHSB 500 for a Explorer Premium account, that has to be locked up for a minimum of 12 months; for this, you will get a 1.25X yield multiplier. The next option is Community Premium, which is available for 2,000 CHSB offers a 1.5X yield multiplier and exchange fees will be reduced to 0.75% for all tokens. The third tier is Pioneer Premium, which is available for 7,000 CHSB, which offers a 1.75X yield multiplier and the same 0.75% fee for all exchanges. 

An even more exclusive option used to be staking CHSB 20,000 for the same time period, which grants you Generation Premium access, a 2X yield multiplier and exchange fees are reduced to 0.5% for all tokens. Genesis Premium is no longer available as of February 2022, but those who had previously been at this account level continue to enjoy the benefits until they redeem their staked tokens, or until they are unlocked after the mandatory 12 months of staking. 

SwissBorg Customer Support

Both the SwissBorg app and the website have a Help Center that aims to answer all of your questions without the need for human interference. You can either enter your question (or the relevant keywords) into the search bar, or search for a related article through the help topics just below. If your question is something that you suspect to be a common issue, be sure to take a look at their FAQ section as well, as it covers a good number of different potential problems.  

If you can’t find what you’re looking for, you can submit a help request. You will need to provide your email address (the one that is tied to your account), a subject, a (preferably detailed) description of the issue, along with any screenshots or other attachments you deem relevant to the case. Additionally, to receive your answer as soon as possible, be sure to narrow down the subject of your enquiry in the Request type drop-down menu so it gets filtered out faster. There is also an in-app chat option that you can use to contact their support team, which will get you a reply relatively quickly. Overall, SwissBorg is praised in online user reviews for their quick turnaround time when it comes to support. 

SwissBorg Security 

To keep clients’ funds secure, SwissBorg implements a segregated custody approach: all your funds will be kept separate from the company’s, so that even in the event of a bankruptcy, your holdings will not be affected. However, they do not mention any sort of cold storage where users’ funds would be kept, so it is safe to assume that everything you send to your SwissBorg account will be kept in their online wallets, which does affect security up to a point. 

The platform has never been hacked, and it has a safety net in place, but only for premium users, in the event that this does happen. However, they are also not insured by a third-party entity, which means that they may not be able to refund other users in the case of a malicious attack.  

SwissBorg takes a unique approach to depositing in order to make the process more secure. Whenever you want to send funds to your SwissBorg account, you can create a new wallet address for security; however, in case it is easier for you to keep a single address memorized in your private wallet, it will still be available. In other words, all the different wallet addresses that you generate through the app are connected to your account, which means you can choose whether you want to use a different one each time you’re making a deposit, stick to a single one, or any path in between.  

The exchange has not been evaluated by any third party blockchain security companies. 

SwissBorg Deposit and Withdrawal Methods 

Depositing your funds at SwissBorg will depend on whether you’re going for fiat or for crypto. If you want to fill up your account with fiat, you will have to make a direct bank transfer to the app. The platform’s help center offers a detailed explanation on how to make the deposit, how to hold more than one fiat currency in your portfolio (since you’re usually stuck with the one that your bank account uses), and what to pay attention to. You will only be able to deposit funds from bank accounts that match your SwissBorg data; if the bank account you’re depositing from is in someone else’s name, the deposit will be declined and the platform will charge you a withdrawal fee for the attempt. Even if you have a joint account with someone else, your name must be on it before you can use it to deposit funds. 

Crypto deposits are similar, if not even simpler. The help center will guide you through the process step by step; all you need to do is choose the crypto asset you want to deposit and copy-paste your SwissBorg address into your personal wallet when sending. The processing time depends on the network itself. Finally, as we’ve previously stated, the app does not charge any deposit fees for either fiat or crypto. 

Withdrawing funds does come at a cost, and you can find out more about this in our Fees section of the review. To withdraw fiat, you will need to enter your bank account details like SWIFT and IBAN (if it’s your first time withdrawing) and the amount you’re withdrawing. You will also need to enter a PIN or passcode, or do a biometrics check, before the withdrawal can go through. Entering an invalid PIN or passcode too many times can even lock you out of your account, so be sure to remember all the relevant information before you attempt this. 

The procedure for withdrawing crypto assets is almost identical, except that there are fewer fields to fill in; simply enter your address, the amount, and confirm everything using a PIN, passcode, or biometric data. There are no additional waiting times; the processing time for your withdrawal will depend on the network itself and how quickly your request can be handled.  

SwissBorg Review: Conclusion 

SwissBorg is an excellent wealth management app with both crypto and fiat options that helps you keep track of your portfolio no matter where you are. While the fact that it is geographically restricted and only offers a mobile app may be considered downsides by some users, its robust offering, secure app, and perks for users tend to outweigh them. All in all, SwissBorg delivers on what it promises, and does it very well.

The post SwissBorg appeared first on Cryptonews.

What does Bitget provide?

One of Bitget’s unique features is its copy trading platform, which connects beginners with professional traders to create a hands-off, gains-up experience. Users can examine elite traders’ portfolios and historical performance before subscribing to a trader’s strategy that meets their return and risk requirements. Bitget also provides a derivatives platform where users can trade futures, options, and perpetual swaps in USDT-margined, USDC-margined, and Coin-margined futures, as well as a spot exchange function for a variety of popular cryptocurrencies.

Bitget is ranked 10th among all spot exchanges by Coingecko. The exchange’s services and features are also accessible through all Android and iOS devices, and there are over 480 cryptocurrencies and more than 580 trading pairs available, which means that users will certainly find what they are looking for here.

Is it safe to use?

Bitget has top-notch security, and the platform has even formed the Bitget Protection Fund to protect users’ assets in the event of an incident. As of November 2022, the fund was worth USD $300 million, making it the second largest user protection fund among CEXs. Bitget has also launched its Proof of Reserves page, which ensures that a 1:1 reserve ratio of customer funds is maintained at all times. Currently, the total reserve ratio is over 230%, much higher than the industry standard.  Bitget offers multilingual customer support in English, Spanish, Turkish, and Vietnamese to enhance the user experience.

Additionally, the exchange has an unspecified bug bounty program, but clients who start noticing security issues are urged to reach out and report them. Naturally, the prize would then vary based on the threat’s security level, and while threat information is only posted once it has been fixed and is no longer a vulnerability, the exchange takes every precaution to safeguard the identities of the users who submit these reports.

In order to further bolster security, users also have the option to set up a two-factor authentication (2FA) system by entering a Google Authenticator code. The procedure is straightforward and adds an extra layer of security to logins, withdrawals, and subsequent changes to other security settings.

Withdrawals, on the other hand, do not necessitate the whitelisting of the withdrawal address, which means that someone else with all of your login information could theoretically send your funds to their own private wallet. Of course, this emphasizes the importance of enabling 2FA and keeping your passwords safe and unique.

What about fee structure and calculation?

Bitget is a simple and inexpensive cryptocurrency exchange platform with a clear fee structure and calculation. Users are drawn to its VIP fee discount program and bonuses, and its native token, BGB, provides both value and utility. Bitget intends to consistently improve its copy trading features and broaden the range of digital assets available in its spot market. It also has plans of expanding its crypto education and CSR programs through sponsorships and partnerships.

Moreover, Bitget’s total transaction volume increased by over 300% in 2022, and it ranked fifth in terms of volume among derivatives trading platforms. After the demise of FTX, Bitget’s derivatives market share skyrocketed from 3% to 11%. Bitget is also the only cryptocurrency exchange which increased 24-hour Open Interest from around $800 million to $3.74 billion. Needless to say, the exchange’s successes speak for themselves.

Deposits and withdrawals

It is very simple to deposit cryptocurrencies with Bitget. Users are directed to a page where they can select which asset they want to deposit (and the chain it’s on, if applicable), and if this is their first time doing so, the exchange creates their wallet address so that they can easily copy it to their individual wallet or even just scan the QR code, if desired.

Withdrawals are also straightforward. Users enter the same information as well as the amount they wish to withdraw in the ‘Withdraw’ window. It is worth noting that the exchange does charge a withdrawal fee, which is displayed during the withdrawal process, but users can find a complete list of all fees on the website. The daily withdrawal limit is 20 BTC (or equivalent in another cryptocurrency) for users who have not completed the KYC process.

Conclusion

Bitget is completely committed to assisting users in trading smarter by offering a safe and cost-effective one-stop trading solution. It also motivates the general public to embrace cryptocurrency through partnerships with reputable partners like the legendary Argentine footballer and 2022 FIFA World Cup winner Lionel Messi, Italy’s top football team Juventus, and official eSports event organizer PGL.

For additional information and regular updates, visit Bitget’s official website along with the Twitter, Discord, Telegram, Reddit, YouTube, Facebook, LinkedIn, and Instagram channels.

The post Bitget appeared first on Cryptonews.

Nash Exchange: Review Summary

• Decentralized exchange. Using decentralized technology, Nash has probably one of the most technologically advanced exchanges out there while staying true to the original decentralized spirit of crypto.
• Token Registered as a Security. Nash’s (NEX) token is made on the NEO blockchain and is a legally approved security token by the Financial Market Authority (FMA) of Liechtenstein. You can use (NEX) to stake dividends, locking them into a smart contract. Once staked, you can claim dividends.
• Nash Wallet. The Nash Wallet, using advanced multi-party computation (MPC), can be argued to rival the security of a hardware wallet. When using Nash, your assets will be owned by you in this wallet, in contrast to leaving them on an exchange.
• Margin Trading. Nash makes it clear that you can download a recommended margin trading application to use with their platform.
• Customer support. With the ability to live chat Monday – Friday, Nash support has had a satisfaction rating as high as 95%.
• Ease-of-use. The design is neat and every step is clearly understood. The platform tries its best to introduce the average person to the world of decentralized exchanges.
• Low fees. There are no fees when you’re making a transaction on Nash. Fees are only given to the takers of transactions. However, you should watch out for network fees, particularly those that are run on the Ethereum blockchain.

Background and History

In a weekly report in 2017, the open-sourced community founders of The City of Zion (CoZ) announced a project. Neon Meta Exchange (NEX) put forth a new technology that would attempt to elevate the security and performance in the exchanging of digital assets. Throughout 2018, they gave presentations all over the world and gained partnerships along the way. Over the year, NEX registered their token as a security and took the time to be legally compliant, which was completed in August 2018. In September 2018, just a month after they became legally compliant, their ICO was launched, seeking to follow CoZ guidelines of responsible ICOs.

In 2019, NEX was rebranded as Nash, and they launched a new website and referral program to the community. In September of the same year, Nash was officially launched, and users traded Neo and Ethereum on their off-chain matching engine. A funds management system was soon in place. Nash also published extensive articles on their project in major news publications. Their customer support system also became well-developed with a customer satisfaction rate of 95%.

Nash’s overarching mission is “to bring borderless finance to everyone.” Not willing to back down from their vision, they have worked their way into creating a decentralized exchange that looks to compete with the biggest centralized exchanges out there.

Notable Achievements

Technologically, Nash’s achievements are noteworthy. With an MPC API protocol for their Nash wallet, Nash and the user account work together to create a blockchain signature. Nash has a pre-signature to make sure that the transaction is valid on the blockchain. This generates security restrictions enforced by Nash while giving the user the permission to be the only one starting transactions on the wallet.

With Nash’s technological protocols, they have arguably made their wallet as secure as having a hardware wallet. This would do a lot in terms of bringing decentralized finance to the masses. Physical hardware wallets could seem tricky to the average person and shy someone away from decentralized finance.

Nash’s NEX token has also been deemed an official security token, good recognition for a decentralized application.

Regulations, licenses, countries

Having the only fully compliant exchange token, Nash puts special emphasis on their management of regulatory practices. Over a year-long approval process, Nash worked with regulators at the FMA (Financial Market Authority) to issue and transact traditional securities on the blockchain. NEX is now deemed the only fully regulated security token.

Why would Nash want to have this special license? For one, those who choose to invest in Nash have protection against harmful practices such as fraud, insider trading, and market manipulation. It also gives a way for Nash to pay investors dividends. Nash doubles down on the idea that an exchange token’s value is tied to the exchange’s success. They believe that other exchanges are not as compliant with these legal structures, so they went above and beyond to make sure that the law recognized the token as a security, not wanting to create unnecessary risks for investors.

Though widespread across the world and prevalent among most countries, Nash does not allow certain countries to operate due to restrictions. These countries include the following according to the Nash.io website:

Verification Requirements and Account Tiers

Since it’s a decentralized exchange, Nash’s verification functions differently from other exchanges. Technically, all you need is another wallet to connect other cryptocurrencies to make trades, instead of having to go through fiat. For the person who doesn’t plan on making orders by the magnitude of the hundreds of thousands of dollars, this should be enough.

To make trades from the national currency and to have access to higher trading volume, you’ll need a whole array of private information, from your personal information, your ID or passport, and your bank account information. The difference between Nash and most exchanges, however, is other exchanges hold all of your coins on the exchange. This is where the popular crypto saying ‘not your keys, not your coins’ comes from. Although you own decentralized assets, you’re keeping them on a centralized exchange, which doesn’t sit well with many.

What differs Nash from these other exchanges is the fact that the platform is decentralized and you’ll be able to have full control of your assets in a non-custodial wallet. The exchange isn’t the one that has access to your coins, so you’ll retain ownership of your assets, as opposed to being at the mercy of an exchange. The assets go to your encrypted Nash wallet that only you can access, making your assets more secure to leave than centralized exchanges.

Account tiers

The account tiers that are available mostly correspond to the trading volume that you want to be able to generate. Without Tier 1 verification, or just remaining at Tier 0, you are restricted to trading 5,000 USD per day, 30,000 USD per month, and 365,000 USD per year. So if you want to keep a lot of your privacy this way, you can stick to this tier.

If that’s not enough, the rest of the tiers are as follows according to the Nash website:

Visit Nash.io

Design and Usability

Nash does live up to their mission to make the interface user-friendly. They want their decentralized exchange to be just as intuitive as a traditional finance exchange. The design is neat, clean, and does a great job of easing users onto the platform.

To create an account on Nash, you just have to go to the home page and click the sign-up button at the top right. You enter your full legal name, an optional referral code if you have one, your country and state of residence, an email, and a password. Afterward, you’ll receive a verification email. Then you’ll sign into Nash and begin to generate your digital asset account. Nash uses 12 secret words to create your account for digital assets such as Ethereum and NEO. Even if you lose your password, you can still sign in using the 12 secret words, much like any other decentralized wallet. It will prompt you to put in the secret words in order to move on.

Next, you’ll be able to factor in a 2-step authentication by downloading an app like Authy. You’ll just need to scan the QR code and have it run by your chosen authentication app.

Nash Wallet

The software wallet functions on an MPC API protocol, which Nash claims is as secure as a hardware wallet. This aligns with their mission of bringing DeFi to the masses. What would make cryptocurrencies more accessible to the general public are incredibly secure wallets anyone can download for free. Hardware wallets that regular people have to buy and have shipped to their homes definitely hinder the speed at which users feel like they have access to their coins. If Nash accomplishes their goal, its online wallet will be more capable than a hardware wallet because of the ease of access.

Making Trades

This might be the part that bothers those who aren’t used to trading on decentralized applications. To begin making trades, you need to send funds to Nash Channels. Nash is partnered with different asset providers. You’ll have to make an account, fill out the information, get verified, and then make your purchase. You can buy and sell using the current exchange rate.

Now you can send assets from an external account to your Nash wallet and begin trading.

From here, you can go to the trades tab and hit basic. You can then select the token you want to trade and receive. Buying and selling are based on the current exchange rate.

Like what you would see on regular trading platforms, you have the history of trade orders, the price graphs, recent trades. It’s nice that these are all on the left side of the platform and you can make trades with specific customizations on the right side.

You can download the Margin program to sync up to the platform and do margin trading. Nash has it in plain sight on the front page. Integration that’s clearly advertised is a big step in introducing margin trading on decentralized platforms. There is also Tuned for trading strategies requiring coding and scripting.

Nash has its own limit order function as well. When set, the exchange only occurs when the price is at or below the chosen price or at or above the chosen price. The time that the limit order is functioning is its time in force, to which Nash has four types available: good ‘til canceled, good ‘til time, fill or kill, and immediate or cancel.

Good ‘til cancel means that the order will remain until filled. Good ‘til time means that the order will stay until a time you choose. Fill or kill means that if the order can be filled in its entirety, it will do so instantly, and if it can’t be fulfilled then it will be canceled. Immediate or cancel is similar to fill or kill, except that if an order can be filled it will go through as much as it can and cancel what it can’t fulfill.

Nash also has a stop-market order and a stop-limit order. With the stop-market order, a requested market amount ordered will go ahead once the stop price is attained. With stop-limit, a limit order will execute when the targeted limit price is reached.

Go to Nash.io

Security

As mentioned, Nash has 2FA (2-factor authentication) set up to make sure that only you created the account. Nash works in conjunction with common authenticator apps to make sure attackers don’t hack your account.

In terms of wallets, Nash’s security is currently not compatible with hardware wallets. Using multi-party computation (MPC), Nash has upgraded client protocols to create signatures. In this way, Nash claims that their non-custodial wallet has hardware-level security for free. According to Nash, the use of a seed phrase that grants complete access to crypto funds, even if Nash is online, gives the same security as a hardware wallet. Nash claims that the security is arguably safer than a hardware wallet while having the smooth interface of online wallets. The extent of the damage an attacker can inflict is apparently limited.

Nash’s mission is to be accessible to a widespread amount of people. Having a non-custodial wallet that you can access anywhere with the same security level as a hardware wallet could be a way for everyone to have access to decentralized banking. This method gets close to the security of having a hardware wallet. Ownership of cryptoassets is yours from the beginning, unlike leaving your funds on a centralized exchange. Compared to keeping money on centralized exchanges, you can argue that Nash’s security system is far more secure since only you, the user, have access to your encrypted wallet, unlike leaving it on exchanges where the exchange has access to your funds.

Mobile App

The mobile app interface is just as intuitive as the computer version. It’s neatly divided into assets, portfolio, and transfers, showing the overall market cap, global volume, and BTC dominance. With a touch, you can send and receive assets as well. It also comes with fingerprint security if you choose to set that up. True to their mission, Nash definitely makes it simple to trade crypto, even on mobile.

Connecting with decentralized applications, or dapps is also made easy with a WalletConnect QR code when using Android. Running on MPC, you aren’t using a private key when using dapps, making it more secure than connecting on dapps the usual way through browser extensions.

Customer Support

Armed with a live chat that is open Monday – Friday, customer support has already gained the approval of many users. The live chat also gives out a list of suggestions and redirects you to the website’s articles once you type in what you need. As of February 2020, 75% of support tickets have been solved in one touch and they had a 95% satisfaction rate.

Nash Fees

What might appeal to those who could care less about whether an exchange is centralized or decentralized are the incredibly low fees. Nash charges no fees for deposits, withdrawals, or transfers. For several assets, though, Nash charges network fees to complete transactions, taken from Nash channels and the Nash wallet. Above, you’ll be able to see the volume and the amount the taker of transactions is charged. When a maker creates an order, it lingers in the books until a taker matches it, adding market liquidity.

You should also be aware that while there are no transaction fees the exchange charges the maker, you have to keep in mind the fees on the network you’re running on. For example, transactions on the Ethereum network are costly, so you’ll be paying those fees if you’re making any Eth-based transactions. Otherwise, if you’re using NEO, you won’t get hit with those high fees because of the network. When the Ethereum fees become more manageable, this would be a huge boon to the Nash exchange.

When it comes to purchases and sales using your personal wallet, Nash charges a 1% fee.

Nash Review: Conclusion

With the widespread dominance of centralized exchanges, Nash is a breath of fresh air. They have truly committed to becoming a decentralized exchange available to the common person. Nash has made significant steps in achieving its goal of making decentralized banking accessible to the masses. With everything traded being user-owned, an intuitive design, low fees, and an interface that welcomes new users, Nash is a promising platform with the vision and design to follow through on their massive goals.

The post Nash.io appeared first on Cryptonews.

Open an account with BingX by following this link.

BingX: Key Features

• Buy and sell cryptocurrencies worldwide: Although known for its copy-trade features, BingX is no slouch when it comes to regular buying and selling crypto. With a well-designed, professional trading platform, users can buy and sell with the ease, just as simply as any other exchange out there.
• Largest and most advanced copy-trading features in the market: While some exchanges just have copy-trading as a feature, BingX goes all the way and delivers an unequaled copy-trading experience. With clear, simple-to-read analytics and stats on the best copy-traders on the platform, you can pick and choose your strategy depending on your needs. This is how BingX made a name for itself. If you are looking solely for copy-trading as a feature, BingX has no rivals.
• 24/7 Customer Support: You can execute normal trades and copy trades as well as do leverage trades. Although simple to use for the user, these all need care and attention when handling on the exchange side. With leverage trading being risky, it is especially helpful when a company has the support to back up these features, since you may need questions concerning certain features. BingX’s 24/7 support in 10 languages, including Dutch, gives you the peace of mind that you will be taken care of when executing trades.
• Fiat Support: Using platforms like Banxa and Moonpay for multiple currencies like USD, AUD, EUR, KRW, THB, TWD, BGN, BRL, CAD, CHF, COF and more, BingX provides extensive fiat support. The platform uses third party protocols to execute these fiat buys.
• Perpetual Swap feature: With the Perpetual Swap feature, you can keep your limit orders, margin trades running around the clock. Investors have to close their positions first and then re-open when a contract delivery date arrives. For experienced traders, the Perpetual Swap solves when users miss market fluctuations caused by tedious operation procedures that would encumber them on other exchanges.
• Intuitive and Beginner-Friendly Platform: From getting started with just your email verification in order to navigate all of the platform’s features, BingX gives beginners and experts a user-friendly experience when it comes to the interface. 

BingX: Background and History 

Registered in Singapore as Bingbon, BingX is an ambitious cryptocurrency exchange that has been at the cutting edge of innovative blockchain technology. Renamed BingX after a full-scale rebrand, the exchange quickly gained a reputation for its copy-trading features.

Established in 2018, BingX’s promising protocols secured angel investment and series A funding. In 2019, the copy trading feature was added and became a massive success in Asia. In 2020, BingX grew rapidly, reaching high trading volume and expanding into English-speaking regions. In 2021, BingX ranked 7th on CoinMarketCap by 24 hour trading volume and can handle more than 200,000 orders per second. As the site  continued to expand with achieving dual licenses, BingX has reached 10,000 daily trading users and a daily trading volume of more than 700 million U.S. dollars. BingX continues to try and expand on their technology, even with the amount of success the platform already possesses. 

As blockchain began to ramp up and have a worldwide following, Bingbon obtained the authoritative MTR license that allowed them to offer a wide range of services, like digital currencies and crypto wallets. This has allowed the platform to spread while making sure BingX has been expanding its services worldwide ever since. Now, as BingX, they are the biggest copy-trading platform in the world. 

Achievements 

BingX had a strong rise in the cryptocurrency scene. In just its few years of existence, it is consistently ranked at the top 10 on Coinmarketcap’s list under ‘Derivatives Exchanges’. Along with this, BingX has secured its place as, by far, the largest copy-trade platform on the market. While other exchanges have it as an afterthought, BingX brings special care and thought into their copy-trading, making it the best exchange to use when copy-trading. 

There is no other exchange that can even come close to claiming the overall options that BingX achieves in this regard. The platform has attracted and will be sure to attract even more users who are well-versed in this feature. However, not only experienced traders benefit. That and with super low fees and commissions, it’s no wonder why over a million users have been using BingX for their crypto needs. You have great fundamentals in the regular crypto exchange features along with the special copy-trading feature that BingX is known for.

Team and Management 

Vigilant attention was given to the creation of this team. When the founding and overall leadership is recruited from top companies, from top venture capitalist firms to tech giants, you know that the team has been carefully crafted to execute on the highest levels. With blockchain technology being the latest in technological and financial developments, experts in these various fields are needed. When it comes to the team, BingX pulled no punches. With experience from J.P. Morgan and Standard Charter Bank, the exchange deftly covers their financial bases. 

Fees 

Here is a preliminary chart of what the fee structure looks like.

BingX: Design and Usability

The design is a standard blue and white with a very inviting font. Although these colors are how many exchanges are designed, what makes BingX a cut above the rest is the execution from the front page to registration. The letters are always big and legible, making it easy for the user to navigate right when the site is opened. Right at the top, each of the features are clearly discerned, from registration to using perpetual swaps. There is no confusion as to the functions of any button on the platform. In terms of the general user interface, every step of the way is characterized by step-by-step. Whether you are registering or depositing, the site gives you a pleasant experience. 

Trading in general on BingX is great, with the standard tradingview that characterizes many top-notch crypto trading platforms. Those who are not familiar with how these trades work may not be as comfortable. But everyone who has used the regular trading view format to buy and sell crypto should have no problem with the trading platform interface. In fact, users might grow fond of trading with the clear candles and trading with limit orders. 

Depending on your region, you might have to put in more KYC details. Otherwise, all you need is email and password and you’re good to go. If you are only using crypto, the site is completely available for you to use with no KYC, giving you as much privacy as possible. If, however, you want to buy using fiat, you need to put extra information for things such as advCash and Coinify. BingX does not handle any of the fiat gateways and these are taken care of by third party sites. These, of course, aren’t completely necessary if you are only depositing crypto. 

This is the awesome thing about BingX. You can do trades that use leverage, things that usually require extensive documentation for traditional finance portals, but do them with more privacy. The same liquidation risks apply but you can get started quickly. If you are planning on massive trades, however, you do need to provide further authentication. 

To top it all off, there is a blog that allows the users to be acquainted with cryptocurrency in general, allowing those who need support the necessary things to learn. 

Tiered Authentication 

BingX encourages authentication for many users, even though you are able to access the features without it. Most users won’t have over 1 BTC or 50 ETH to play around with, making it incredibly accessible to the vast majority of users. If you’re a big player in the market, however, authentication is necessary.

Unauthenticated： 

• USDT- daily limit 10,000; single transaction limit 10,000; cumulative max. 40,000.
• ETH- daily limit 50; single transaction limit 50; cumulative max. 200.
• BTC- daily limit 1; single transaction limit 1; cumulative max. 4.

Authenticated： 

• USDT- daily limit 1000,000; single transaction limit 100,000; no cumulative limit.
• ETH- daily limit 400; single transaction limit 150; no cumulative limit.
• BTC- daily limit 5; single transaction limit 2; no cumulative limit.

BingX Affiliate Program 

If this is something that would interest you and if you happen to have a network you know that can use BingX, you can contact dutch@BingX.com. The commission rate is a whopping 60%, easily one of the highest in the industry for affiliates. Affiliates also have lower fee rates in industry, as low as 0.045% for standard contract rates. Maker rates are at 0.02% and Taker rates at 0.03% for Perpetual Swap with up to 100+ USDT bonuses available upon registration. You will also have branded gifts courtesy of the exchange. If you have a network, BingX has a promising affiliate program you can take advantage of. 

Mobile app 

The mobile app boasts much of the same features as the desktop app and is a clear mobile version of many of the features that you need, like buying, selling and copy-trading. For those who like to see how their assets are doing on the go and want to time certain trades, having it on mobile could be essential for your needs. 

User’s Account Security Measures 

Users can use Google authentication for their account adding an extra layer of security. With support to contact at a moment’s notice, BingX provides the necessary means to keep your account secure. 

Deposit and withdrawal methods 

BingX hosts a number of wallets, from cryptocurrencies like USDT and BTC, that you can use to deposit your crypto. You may also use a QR code if you find that convenient. There are no fees for withdrawal and the fee structure for withdrawals can be found in the fee section above. 

Conclusion

Overall, BingX does a great job at the fundamentals as well as excels as an exchange on its unique features. If you are copy-trading, BingX is a must to have in your toolkit. Even if you aren’t copy-trading, the wealth of features that it has makes it an attractive option. It’s no wonder why over a million users have already taken advantage of it! You can open an account here through this link.

The post BingX appeared first on Cryptonews.

SimpleFX Review: Key Features 

The thing that sets SimpleFX apart from other crypto trading platforms is that it is a CFD platform, meaning you do not get to handle actual cryptocurrencies (or any other asset types) directly. Here are some other key features of the platform:

• Several asset types. Aside from cryptocurrency pairs, SimpleFX also offers access to forex, commodities, and stocks trading, either using cryptocurrency or fiat currencies.
• No forced KYC. If you want to trade the available pairs using cryptocurrencies, you don’t have to go through the KYC process. It is only mandatory in case you want to start depositing fiat currencies.
• Low fees. There are no deposit and withdrawal fees, nor commissions on trading, meaning you keep the entirety of your profit.
• MetaTrader 4 Downloadable Trading Platform. If you’re a professional trader who would appreciate a more detailed trading platform from the browser version, you can download the MetaTrader 4.
• Referral program. If you have friends who would like to find a new CFD trading home, you can invite them through a referral link and earn part of what they make, depending on how much they’re trading.
• Ease of Use. The platform is very beginner-friendly without omitting any important aspects of trading. Users who are not yet comfortable with trading can use their demo account first to figure out the ins and outs of the platform.

SimpleFX History and Background 

SimpleFX has been in operation since 2014 and is based in St Vincent and the Grenadines. Little is known about its team. At the time of writing, the platform claims to reach more than 200,000 users in 190 countries. 

The company is currently not regulated by a financial body. On the other hand, this enables them to leave out forced KYC procedures; these are required only if you want to trade with a fiat (hard) currency account. To go through with KYC, you will have to provide proof of your identity and address. Otherwise, to create a bitcoin (BTC) trading account, all you need is a valid email address that you need to confirm. 

As we’ve already mentioned, SimpleFX is available in 190 countries worldwide. A notable exception is the United States—customers from the US, regardless of their exact state, won’t be able to use their services. These are also forbidden to all citizens of countries that outlaw anything that SimpleFX provides, which include: Algeria, Belgium, The Bahamas, Botswana, Cambodia, Cuba, Ecuador, Ethiopia, Ghana, Iran, Monaco, Myanmar, North Korea, Pakistan, Poland, Saint Vincent and the Grenadines, Panama, Sri Lanka, Syrian Arab Republic, Trinidad and Tobago, Tunisia, and Yemen. 

The platform does not offer trading tiers as such, which means that no matter how much you trade (or don’t trade), your status as their user does not change. The only exception to this rule are inactive accounts: an account is inactive only if it has never made a single trade, in spite of opening it. If you’ve ever traded on SimpleFX, no matter how long a hiatus you may decide to take, your account will always be considered active. 

On the other hand, SimpleFX offers an affiliate program that has its own tiers. To take part in it, all you need to do is invite friends to use the platform. You can earn between 10% and 50% of the revenue share generated by someone you referred to the platform, as well as 5% of the revenue share generated by those who were referred to the platform through your previous referrals—so one step removed from you.  

Additionally, new customers at the exchange get a bonus depending on the size of their first deposit, which ranges from USD 20 up to a whopping USD 2,500. Once you make a deposit to a new LIVE account, go to the Accounts window of the SimpleFX app, where you can see the total sum available for trading, including the bonus awarded. The bonuses are applied in in the following way: 

You can’t withdraw the new balance immediately—you first need to reach a certain trading volume, which is shown in your Withdraw window (and how much you still need to reach).

SimpleFX Fees 

Deposits on SimpleFX are free, regardless of the method you choose. While the vast majority of cryptocurrencies don’t have a minimum deposit amount, those that do are very low. Still, there are some currencies that have a maximum deposit amount (like BTC 0.015, for example), all of which are available here. 

Withdrawals follow a similar logic. While the fees are either very low or nonexistent, there is always a minimum withdrawal, plus the network fee that depends on the blockchain itself and not on the platform. Each withdrawal has to be made with the same payment system used for deposit. If you deposited using several payment systems and earned a profit/made a loss, you can withdraw funds with the payment system used for the largest deposit. Additionally, inactive accounts are charged an additional 3% fee at a minimum of USD 25. 

Trading at SimpleFX is commission-free, which means that you get to keep everything you make in a single trade. This holds true for both Demo and Live trading accounts: there are no different conditions, fees included, when switching between the two. For more information, SimpleFX offers a detailed list of all available trading pairs on the platform with their trading hours, maximum leverage, spread, minimum/maximum contract size, and more. 

SimpleFX Design and Usability 

The SimpleFX landing site does not actually take you to trading immediately, as so many others do; first, you get an overview of everything that the exchange offers. Clicking on Start Now takes you to the in-browser trading app, from where you can also sign up for the exchange (or log in if you’re already a member). To create your account, all you need to provide is an email address and a secure password. You’ll have to confirm your email before continuing. 

Once you’re a member of the platform, you receive USD 4,000 to use on your demo account so you can figure out how everything works without risking your own funds. You can choose between funding your account with cryptocurrencies or opening a fiat account, keeping in mind that the fiat account does require some KYC.  

Funding your account with crypto is quite simple: you choose the country you’re trading from in order to see all funding options available to you, then click on the deposit method, which reveals all the information you need. This goes from the confirmation time to minimum/maximum deposits, operator status, etc. 

After depositing, trading is literally just a few clicks away. You can either find the trading pair you want in the left hand side of the screen, or you can search for it through a search bar at the top. In both cases, clicking on your trading pair of choice lets you select between opening the chart, starting a new order, or simply viewing more information about the symbol. This includes data like contract size, swap information, required margin, effective leverage, etc. In the case of cryptocurrencies, the bottom part of the screen will also include information on the asset itself, like what it is, a short overview of its history, and what purpose it serves, which lets potential traders educate themselves before committing to a trade. 

Clicking on New Order lets you enter all the information relevant to your trade, as well as set parameters for Take Profit or Stop Loss types of trades, if you want. You can also choose between market orders—also known as taker orders—or pending ones, aka maker trades. Once your order is made, there’s nothing else to do but wait.  

Another useful feature is the Trade Calculator, which is a small calculator icon on the left hand side of the screen, above the list of available trading assets. You can choose your account currency, your leverage, and the trading pair you want to calculate, and set all the other parameters that are normally available when first opening a trade. This lets you see what your potential profit or loss is without committing your funds to it, which is especially useful when you’re dealing with assets you may be unfamiliar with. 

Speaking of educational content, SimpleFX also offers a Help Center that you can find by clicking the three horizontal lines next to their logo in the upper left hand corner of your screen. Here, you can read all of the Frequently Asked Questions that range from how many accounts you can open to troubleshooting common issues. Below the FAQ section, you can find other, less common questions separated by category, but you can also make use of the search bar to find what you want to learn. Additionally, the platform offers video and blog tutorials, step by step guides, and live support in the form of a chat prompt. 

A separate feature is the Community Forum, where users can ask for advice and/or assistance, offer feedback, and otherwise interact with each other. Users can request new listings, new features, or just general help. Still, the forum is not very active at the time. 

SimpleFX also offers a mobile app. It can be downloaded directly from their website for iOS, Android, and Huawei devices (through AppGallery). The options are not too different from what’s available in the browser-based version of the trader. Somewhat different, however, is the fact that you can also access SimpleFX through the downloadable MetaTrader 4 desktop platform for a significantly more advanced trading experience.  

ETH2 Staking

An important aspect of SimpleFX that sets it apart from other CFD brokers is the fact that they support ETH2 staking. The staking works so that you do not have to become a validator yourself, which requires a whopping ETH 32 for you to qualify for that position, but you can stake however much ETH you want (or have). There are no fees and no minimum deposits, and it can earn you a relatively high APR rate that has been known to go up to 8.55%. The interest is added to your account every day, and the staked funds can even be used for trading.

SimpleFX Security 

SimpleFX is protected with SSL encrypted systems, as well as keeping personal details in secure offline servers. However, the company does not state that the funds are kept in cold storage or that they use multisig to access them.  

When it comes to security measures users can take, SimpleFX lets them add two-factor authentication (2FA) to their accounts. Users will also need to verify their withdrawal address via email before they’re able to move their funds out of the exchange. Aside from keeping their private keys safe and hidden from others, there’s little users can do to protect their funds when trading on SimpleFX. 

SimpleFX has not been rated by experts in external reviews yet. 

SimpleFX Deposits and Withdrawals 

Depositing cryptocurrencies on SimpleFX is quite simple and straightforward. In the web trader, click on the type of account in the top right corner of the screen, next to your account and notifications icons, and select the live trading account first. When you’ve made the switch, click on Manage Accounts under it, and click on Deposit. You can also start by clicking on the Deposit button on the lower left hand corner of your screen. Here, you’ll choose the cryptocurrency you wish to deposit, create an account for it (which includes setting a secure password for it), then follow the steps to start funding your account. 

If you want to deposit fiat currencies, you will first need to confirm your account through a KYC procedure. Here, you will need to provide proof of identity, in the form of your personal ID with a selfie, and proof of address, which can be something like a utility bill that has both your name and your home address clearly listed. Once this procedure is completed, you can start depositing fiat funds into your account through e-wallets like Neteller and Skrill. Credit cards are not accepted. Most deposit methods, crypto and fiat alike, take around an hour to deposit, and there is no minimum deposit amount.  

Withdrawals have to be made using the same payment method as in the case of deposits. If you’ve made deposits through different methods, you’ll need to use the method you made your largest deposit with. Additionally, withdrawals take a significantly longer time to process than deposits: it will take you around 24 hours before you can access your funds, as the platform checks every outgoing transaction for signs of suspicious activity. 

The majority of withdrawal methods do not incur any fees, but there is one exception: Fasapay incurs a 1% withdrawal fee. The others do have minimum withdrawal amounts, but the platform does not charge withdrawal fees on them. 

SimpleFX Conclusion 

SimpleFX has a name that serves it well: it’s quite a simple CFD broker, appropriate for complete beginners as well as trading veterans, who can opt for the MetaTrader 4 version of the platform. The fees are competitively low, the choice of assets decently high and spreading far beyond cryptocurrencies alone, and the lack of KYC for crypto users ensures a decent level of privacy. Overall, for traders who are aware of the risks CFD trading includes, SimpleFX is an excellent trading platform to start with.

The post SimpleFX appeared first on Cryptonews.

Background and history of the broker

Launched in 2006, AvaTrade is one of the oldest online brokerages operating worldwide. The company has offices and sales centers worldwide, namely in Australia, Chile, China, Italy, Japan, Mexico, Mongolia, Poland, South Africa, and United Arab Emirates, while their administrative headquarters are in Dublin, Ireland.

AvaTrade is synonymous with reputation and is regulated in numerous respectable jurisdictions:

• In Europe, AvaTrade is licensed by Central Bank of Ireland under the license number C53877.
• In British Virgin Islands, the company is regulated by the B.V.I. Financial Services Commission, under license no. SIBA/L/13/1049.
• In Australia, the broker is regulated by the Australian Securities and Investments Commission under license no. 406684.
• In Japan, the broker is supervised by the Financial Services Agency under license number 1662, as well as Financial Futures Association under license no 1574.
• In South Africa, the broker is licensed by the Financial Sector Conduct Authority under FSCA license no. 45984.
• In the Middle East, the firm is regulated by the Abu Dhabi Global Markets Financial Regulatory Services Authority under license no. 190018.

In order to register and use AvaTrade, users must verify their identity by providing the following documents:

• Government-issued ID or Passport
• Proof of Address (utility bill)

It may take up to 1 day to approve your verification. Mind that AvaTrade will block all unverified accounts after 14 days of their first deposit.

AvaTrade accepts customers from most countries and continents, including Australia, Canada, The United Kingdom, Thailand, South Africa, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and many other countries.

The platform is unavailable to citizens and residents of the United States, Belgium, India, Pakistan, Iran, Iraq, and Zimbabwe.

AvaTrade account types

As you sign up on AvaTrade, you can open one of the following account types. All of them have their similarities and fixed spreads and support mini or micro lots of trading.

• Demo account. Try out the AvaTrade platform without making a deposit and test novel trading strategies using 100,000 practice money. The demo account available for 21 days after opening an account.
• Retail account. The most popular account type for EU-based clients. It lets you trade with 30x leverage, and you can also access dispute settlement service.
• Standard account. Standard account is available for international clients outside of the European Union and is mostly the same as the retail account. In some markets, it allows for 400x leverage.
• Professional account. Pro traders who meet a certain trading volume threshold may be eligible for numerous trading discounts and up to 400x leverage (in certain markets).
• Islamic account. Islamic (Halal) account is meant for clients trading following Sharia Law. It shares most of the standard account features but does not include cryptocurrencies and Rollovers for most forex pairs (with a few exceptions).
• VIP account. Active traders who make deposits above EUR 10,000 or more get great discounts for high-volume and high-frequency trading.

AvaTrade Fees

AvaTrade promotes commission-free trading regardless of your account type. This is due to its internal market pricing and operates as a counterparty to your trades. As a result, unlike other CFDs brokers, AvaTrade does not facilitate direct market access with reduced spreads but imposed commissions.

Other fees may depend on your account type. Since AvaTrade offers multiple account types, it’s rather difficult to accurately cite all of their commission fees, as they are also subject to change. Our general impression is that AvaTrade fees are low for Pro and VIP accounts and are average for standard and retail accounts when comparing to other CFDs brokers.

The spreads on AvaTrade are rather competitive. Main forex markets like EUR/USD come with spreads that start from 0.9 pips and can even go as low as 0.6 pips for professional trading accounts. Other markets, such as crypto or stocks, come with a starting point between 0.13% (stocks) and 0.35% (crypto). They also charge overnight fees for leveraged positions, which depend on varying funding rates.

Also, AvaTrade has a strict “idle account” policy. If you don’t use your account for three months, it will incur a relatively high USD 50 monthly fee. If your account is inactive for a total of twelve months, it will also incur a substantial administration fee of USD 100.

AvaTrade design and usability

At the time of writing this review, AvaTrade provides access to the following trading instruments (CFDs):

• Forex: Over 50 currency pairs with competitive spreads of 0.8 pips and up to 400x leverage.
• Cryptocurrency: 18 different cryptos with up to 20x leverage, including Bitcoin pairs against major currencies like BTC/USD, BTC/EUR, and BTC/JPY; Ethereum, Bitcoin Cash, XRP, Litecoin, Bitcoin Gold, Dash, IOTA, EOS, NEO, Stellar, Chainlink, Uniswap, Dogecoin, Shiba Inu, Solana, and Polygon.
• Indices: Trade DJ 30, NASDAQ 100, S&P500, FTSE 100, and 20 more indices with up to 20x leverage.
• Stocks: Bet on top stocks, including Amazon, Apple, Bank of America, Google, Facebook, AT&T and other top companies with up to 5x leverage.
• Bonds & Treasuries: Access a range of US, European, and Asian government bonds with up to 5x leverage.
• Commodities: Gold, silver, copper, platinum, energies, and various food crops with up to 10x leverage.
• ETFs: Trade exchange-traded funds with up to 5x leverage on your positions.
• Options: AvaTrade offers a range of trading options for traders of all experience levels.

Besides, AvaTrade provides its traders with a comprehensive array of educational trading resources. It has a decent education center filled with video tutorials, webinars, glossaries, eBooks, and more. It also includes simple tutorials like how to use Meta Trader 4 or how to do simple technical analysis.

AvaTrade offers several different trading platforms. AvaTrader is a professional-grade trading platform that is suitable for novice and expert traders alike. Traders can watch the markets, apply their own analysis, and execute Forex and CFD trades from their desktop. AvaTrader offers various customizable tools and indicators for complex analysis and testing and automated trading that can be set up according to preset specifications. The CFD can be used for short and long trades and start with as little as USD 100 with a leverage of up to 20x.

Also available at AvaTrade is the popular MetaTrader4, which allows trading in Forex, commodities, and indices with low spreads, reliable execution, and 400x leverage. The AvaTrade MT4 account is powerful and flexible and combines the world’s best platform with all the advantages of trading with an award-winning regulated broker.

MetaTrader4 provides transparent low pricing from 0.8 pips, flexible lot sizes – from 0.01 micro lots, quick execution, and free auto-trading with full EA compatibility and MQL5 support.

These platforms are available for mobile trading for iPhone, Android, and Windows Phone, where traders can choose any 200+ Forex & CFD instruments on your phone.

AvaTrade security

AvaTrade is a CFDs broker, meaning that it does not keep the underlying traditional assets and cryptocurrencies. As such, the biggest risk falls under the regulatory side of the platform. Here, AvaTrade stands as a very low-risk broker due to its global nature and multiple relationships with local regulators, including tier-1 regulators like the Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), and Investment Industry Regulatory Organization of Canada (IIROC).

As a result, AvaTrade users can enjoy the highest quality service and exposure to multiple markets without losing any good night’s sleep.

Deposit and withdrawal methods

AvaTrade offers a wide variety of deposit options, including the most popular online payment methods such as bank card payments via Visa or Mastercard, bank wire transfers, and E-Wallets like Paypal, Skrill, NETELLER, and WebMoney. Unfortunately, AvaTrade is a pure CFDs trading platform and does not accept any cryptocurrency deposits, though you may be able to convert your crypto into fiat by depositing via PayPal.

The minimal initial deposit amount at AvaTrade is only USD 100.

When it comes to withdrawals, you can take your funds via the same methods as mentioned above. Note that withdrawals may take up to 5 business days to process.

The AvaOptions platform is intuitive and powerful, and traders the full variety of vanilla currency options in addition to spot trades. Traders can trade 30+ currency pairs over a range of expiries and with an assortment of powerful yet user-friendly tools to hone a trader’s trading strategies.

The post AvaTrade appeared first on Cryptonews.

TurboXBT Review: Key Features 

TurboXBT is a short-term contract trading platform. This means that users choose an asset, enter an amount, choose the time for which the contract will run, and whether they believe the price will be higher or lower once the contract runs out. If they’re right, they receive the profit off their prediction; if they’re wrong, they forfeit the stake they’ve made.  

Other notable features of the exchange include:

• No fees at all. This is quite a rare sight in any industry, let alone the cryptocurrency one, but TurboXBT truly does not charge any fees—not for depositing, not for withdrawing, and not for trading. The only fees you may need to pay are the usual network fees as set by the blockchain you’re using.
• Extreme ease of use. The UI is very intuitive so you’re unlikely to run into any trouble there.
• Demo account. Worried you’ll risk too much money before getting the hang  of it? The platform offers a demo account with USD 1,000 in it to let you test it before committing.
• Privacy-centric. Not only does the platform not force KYC on their users, but you do not have to go through with it at all—there is simply no need, as all services are available to all users.
• More than just crypto. While you can only use crypto to stake, you can place your wagers on several other asset types for a total of 38 trading pairs.

OPEN ACCOUNT

TurboXBT Background and History 

Little is known about the founding of TurboXBT and its team. This information is not available online, and the team claims the need to protect their private investors as the reason for not disclosing more information. 

TurboXBT is incorporated in the Seychelles, which is a blockchain-friendly area that has been drawing a number of similar businesses. However, this also means that the platform is not regulated. On the other hand, neither are there any KYC checks on the platform, meaning it is especially well-suited for privacy-oriented traders. However, access is prohibited for users from the following areas: United States of America, United States outlying islands, Japan, Saint-Vincent and the Grenadines, Canada, Algeria, Ecuador, Iran, Syria, North Korea, Sudan, American Samoa, Russian Federation, and other countries where the company’s activity shall be licensed, accredited or regulated by other ways. 

TurboXBT is available in 16 languages: English, Spanish, French, German, Italian, Portugal, Hindi, Vietnamese, Indonesian, Turkish, Russian, Chinese, Japanese, Korean, Bengali, and Thai. In other words, it is globally accessible in terms of understanding.  

As there are no verification requirements, there are also no account tiers. While this may seem like a drawback, it’s actually a good way to offer a level playing ground to all users regardless of their personal wealth or trading volume.  

START TRADING

TurboXBT Fees 

TurboXBT is a unique trading platform in the sense that there are no fees. Deposits and withdrawals incur the usual blockchain network fee that depends on the asset—and is not something that the platform can influence—but no trades, regardless of whether the user takes a profit or a loss, will charge them anything. Naturally, if it ends in a loss, the trade amount is forfeited; but if it ends in a profit, the user receives the full amount, with no percentage—no matter how small—taken by the platform. 

TurboXBT Design and Usability 

TurboXBT has a very simple and straightforward interface design—only the buttons you need to execute your trades and nothing more. The landing page has a live tracker of the performance of assets in relation to USD, which means watching it carefully can potentially help users determine their own course of action. 

Still, the first thing to do is to open an account. All you need to provide for this is an email address and to set up a secure password. Once you’ve confirmed your account through a PIN code that is sent to your email address, you can immediately deposit funds and start trading. 

Once you’ve deposited your funds, trading is literally only a few clicks away. On the right hand side of the screen, you choose the duration of your short-term contract, which ranges between 30 seconds and 15 minutes, choose the amount you want to stake, and click Up or Down. The amount you stake will affect your potential profit, which is immediately shown on the screen, but keep in mind that the platform shows you the maximum amount based on recent performance and that your actual results may vary on a case by case basis. Up and Down are the only two options you have: either the price of the asset will be higher than it is right now once your contract runs out, or it will be lower. The third option, that it ends up being exactly the same, is infinitesimal; however, if it somehow does happen, it is considered a loss. 

Although creating your own short-term contract is extremely easy, TurboXBT also lets you use their demo account to try your hand at this type of trading without risking your actual funds. You receive around USD 1,000 on your demo account—virtually, of course—and you can make any trade you want. In fact, when you first log in and before you deposit your funds, you’re automatically taken to the demo trading screen. This is shown at the top of the right-hand side, where it says USDT demo; to access “real” trading, click the downward arrow next to that line and choose the type of asset you want to use. 

While the demo account is only available in USDT, your actual trading account is available in BTC, ETH, and USDC in addition to USDT. These are just the assets you’re funding your account with—trading is available for 17 assets (two cryptocurrencies, BTC and ETH, eight forex currencies, four commodities, and three indices), all of which make up 38 trading pairs. Most of the pairs are the assets paired with USD, but a notable exception are forex currencies, as they require to be paired with a currency that is different from them. 

The asset you use for staking your trade is not necessarily the same pair that you’re trading on. While the asset itself can be chosen from the aforementioned downward arrow, you will have to shift the screen to your trading pair of choice from a similar drop-down menu, this one placed on the upper left part of the screen. 

Since this is only a short-term contract trading platform, there are only these options for trading, that depend on contract duration and staked amount. This means that at no point will you get access to the underlying assets other than to deposit and withdraw them, making trades much faster and more precisely executed. This also means the platform does not offer any spot trading, margin, iceberg orders, etc. They take the motto “what you see is what you get” very seriously, for a very streamlined experience with no unpleasant surprises along the way. 

Sadly, the platform does not offer a mobile app. 

When it comes to customer support, TurboXBT offers a very exhaustive Help Center covering everything users may want to know. The articles and guides are very detailed, both textually and visually, with step by step explanations of everything you need to know. If you need more help, there is a live chat option in the lower right hand corner, which claims to have a usual reply time of less than five minutes. This is especially useful if your issue is time-sensitive. 

VISIT EXCHANGE

TurboXBT Security 

According to their website, the majority of customers’ digital assets are held in cold storage, while only a small portion of them are held in their online wallet when processing transactions. Additionally, all incoming and outgoing transfers are executed manually, once their team checks all transactions for risk scoring, money laundering, suspicious trading activity, and other patterns. However, the platform is neither regulated nor insured. 

When it comes to user security, newcomers are prompted to create a secure password when setting up their account, as you cannot open an account if your password doesn’t meet their security requirements. Aside from this, there is the possibility of adding two-factor authentication (2FA) to your account. Once it is active, it will be used not only to sign in, but also to change your password and withdraw your funds, for example.  

An added layer of security is the fact that withdrawals are only processed once a day, which means they are closely inspected as well. Users have to whitelist the addresses they’re withdrawing to, minimizing the risk of mistyping it or similar, which could lead to the funds being irretrievably lost. To whitelist, you will need to confirm the address with a PIN that is sent to your email address. 

TurboXBT has not been audited by any external professionals specializing in exchange security. 

TurboXBT Deposits and Withdrawals 

To deposit funds to your TurboXBT account, all you need to do is click the Deposit option on the right side of the screen, or under the Transfers tab on the left side. You will be taken to a screen where you can choose the currency you wish to deposit. Keep in mind that the stablecoins, USDT and USDC, are based on the ERC-20 protocol before depositing. Currently, the deposit times depend on the blockchain’s requirements; TurboXBT considers BTC deposited after three confirmations, which takes around 40 minutes, while ETH and ERC-20 tokens (USDT, USDC) require 6-10 block confirmations, which usually takes around 4 minutes. They charge no deposit fees. 

Most recently (as of December, 2021), TurboXBT has added support for card payments as well through the Coinify service. This means that users can use fiat currencies to directly purchase the cryptocurrencies required to trade on the platform. Coinify is supported in over 180 countries worldwide and is regulated by the Danish Financial Authority, the Danish Tax Authorities, and the Blockchain and Virtual Currencies Working Group under the European Commission to ensure that it adheres to the highest industry standards and complies with international regulations.

Withdrawing funds is also done through the Transfers tab on the left hand side. Just choose the withdrawal address that you’ve previously whitelisted and enter the amount. There are no withdrawal fees either, but the platform will let you know how much the network will charge you. As stated above, TurboXBT processes all pending withdrawals once a day, between 12:00 and 14:00 UTC. In other words, a withdrawal requested before 12:00 UTC will be processed on the same day. Any withdrawal requested after 12:00 UTC will be processed on the next day. Again, the speed of the withdrawal depends on the network after that. 

Conclusion  

TurboXBT promises only a platform for trading short-term contracts and delivers very well. The platform is privacy-oriented with no forced KYC, good security measures, and a great engine that can handle the number of different trades happening at any point. While there are not many assets you can deposit and withdraw, this may turn out to be better for many people, as it takes away from the indecisiveness they would otherwise face.  

GO TO TURBOXBT

The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities and similar products. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of TurboXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs (Contracts for Difference), Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. TurboXBT recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued.

The post TurboXBT appeared first on Cryptonews.

CoinEx: Key Features 

CoinEx includes all the features necessary for new and relatively experienced crypto traders alike. Even veteran traders with high requirements who prefer privacy will find all they need on CoinEx. Some of its most notable features include:

• Huge selection of altcoins. Not only does CoinEx offer a wide array of different altcoins, even including the different protocols they’re available on, but they’re also constantly adding exciting new projects that go through their vetting process.
• Low fees. Not only are their fees competitively low, but they can also be brought down further if you hold CET, their native token, or choose it to pay your fees. These two different discounts can be stacked.
• High-level security. The exchange uses cold wallet storage, but they also let you know whenever anything happens on your account, just in case it is not you.
• No forced KYC. All you need to enter to sign up for CoinEx is an email address, a strong password, and 2FA, but if you want to raise your daily withdrawal limit from USD 10,000 to USD 1m, you can get verified.
• Free(ish) deposits and withdrawals. Deposits are free, while withdrawals incur a miner’s fee that depends on the blockchain in question.
• Detailed Help Center. The exchange’s support page has detailed guides for pretty much everything you may have problems with, and if you can’t find a satisfactory answer, you can contact them directly.

All in all, CoinEx is a great choice for privacy-minded investors of all experience levels. In this review, you can learn everything you need to know before signing up for it. 

Open Account

CoinEx History and Background 

CoinEx was founded in December 2017 and is headquartered in Hong Kong. It is trading under the ViaBTC Group. Currently, they say they have more than two million customers in over 100 countries and regions. The exchange is available in 15 languages, including Chinese, English, Japanese, Korean, Russian, etc.  

Haipo Yang is the founder and CEO of CoinEx. His previous experience includes working for Tencent TEG/Weibo and Futu Securities. Coming from a strong mathematical background, he independently completed all the code for the ViaBTC mining pool in 2016 that was then launched two months later. After that, he went on to establish the CoinEx exchange. The rest of the team is in the shadows, but the exchange’s website states that, CoinEx core team members are from world-leading internet and finance companies, including the earliest adopters and professionals of cryptocurrency who boast rich experience in global operations and services in the industry.

CoinEx is one of the leading exchanges for bitcoin cash (BCH)-priced assets, providing reliable access to millions of customers globally. At the moment, they estimate that 85% of their total customer base is international, with only 15% coming from China, which used to be their main domain upon launch. 

In August 2020, the exchange launched a trade-driven mining program that was immensely popular and made them the world’s biggest exchange by 24-hour trading volume for a short while. Nowadays, they rank around 40th among the 500+ cryptocurrency exchanges listed on data aggregator CoinMarketCap.

They are regulated under Estonian law, as they hold the Estonian digital asset trading license. However, there is no data as to whether funds on the exchange are insured. They are also available globally, with the notable exception of all countries where cryptocurrency trading is prohibited, and they reserve the right to refuse customers from those jurisdictions. 

CoinEx does not force know-your-customer (KYC) checks, but those customers who choose to go through with it get significantly higher withdrawal limits and access to all promotional activities on the platform. Those who do not want to verify their accounts only need to provide their email address and set up a password (while a two-factor authentication option is highly encouraged). 

To unlock the perks for verified users, they have to provide an ID document and go through the face verification process with a webcam. Another option is uploading a selfie of them holding their ID document and a hand-written note. 

CoinEx also offers fee discounts based on how many CET tokens, the native token of the exchange, a user holds more on that in the Fees section of the review. 

CoinEx Fees 

CoinEx offers relatively low fees that can be brought down even further using the CET token. The total fee percentage will depend on two main factors: how much CET you hold (both on the exchange and in a wallet that you can bind to the exchange) and whether you choose to pay transaction fees with CET, which nets you 30% off the amount due. The two potential discounts can even be stacked, where the total amount is shown in the table below in the ‘Spot Fees with Deduction’ column. 

The trading fee discounts based on CET holdings are shown below. 

If you have more CET than what you hold in your exchange wallet, it is always prudent to keep your funds off any exchange and in a private wallet instead. It is possible to bind the address of a wallet to your CoinEx account. Your funds are still perfectly safe; all the exchange has access to is the data about how many CET tokens you’re holding and nothing else. This can bump you up in terms of VIP levels, so it might be worth considering. 

Users with very high trading volumes per month (starting at USD 10m) can get additional discounts under different Spot Market Making Levels. Makers have noticeably lower trading fees than takers. This is because they provide the “gasoline” for the market, as the exchange puts it; in other words, as they place an order and wait for the correct conditions to be met before it is executed, their funds provide liquidity for the exchange. Takers, on the other hand, are those who take up the orders that makers have placed, reducing the market depth. 

All cryptocurrency deposits on CoinEx are free. However, each token has a minimum deposit and withdrawal amount that varies a lot between the hundreds of tokens available, some of them also available on different mainnets. Withdrawals do incur a fee, but this also changes on a case-by-case basis. Users can consult the exchange’s exhaustive list of all available tokens and their fees here. 

CoinEx also offers special discounts for liquidity providers on its automated market-making functions. The AMM market has its own fees and rules, and the VIP rankings and CET discounts do not apply to these fee percentages. 

All users can become liquidity providers, and 100% of transaction fees in all CET markets will be rewarded to them, as well as 50% of transaction fees in other markets.  

Trade now

CoinEx Design and Usability 

CoinEx offers a relatively straightforward design and easy-to-use interface. There is a fine line between showing all relevant information and overwhelming users with too many numbers, but CoinEx treads it professionally. Their landing site shows new listings, all top coins in different tabs, and the current trading volume, as well as a few other pertinent information, without looking cluttered. 

The onboarding process is quite simple and straightforward. In the upper right corner of the site, there is a Sign Up button. Clicking it brings you to a screen where all you need to enter is your email address and a password. Once you’ve confirmed your email address, you’re pretty much ready to go! While you don’t have to set up two-factor authentication, you’re strongly encouraged to do so in order to keep your account as secure as possible. 

Of course, the need for a strong password goes without saying, as well as the necessity of keeping the password safe and away from prying eyes. After that, all you need to do is deposit funds into your account and you can start trading. 

On the other hand, as earlier mentioned, CoinEx does have a KYC process that is completely voluntary and that raises the daily withdrawal limit for users from USD 10,000 to a whopping USD 1m for verified users. 

Trading on the platform is quite simple. At the time of writing (October 2021), the platform supports more than 60 fiat currencies and 6 third-party payment partners, which accept payments via Visa or Mastercard as well. No matter which payment option users choose, buying a cryptocurrency is a matter of a few clicks.  

Trading cryptocurrencies among themselves is even more simple, although the number of trading pairs and order types can seem overwhelming at first. Users who only want to buy and sell cryptocurrencies without complications have to choose the Market option, but other types of trades Limit and Stop-Limit trading, specifically, are available in the tabs adjacent to the Market one. 

Using these options is as straightforward as buying and selling at market price, which means you only have to enter the required information and click the Buy or Sell button, depending on what you need. Aside from spot trading, CoinEx also offers perpetual contracts and margin trading. Of course, these can be combined, which means you can place long buys using leverage from the exchange. 

Of course, margin trading carries significant risk and should not be attempted by traders who cannot afford to lose the amount they’re putting on the line. Before starting margin trading, users will have to transfer the appropriate amount of funds from their spot trading account to the margin trading account. 

Finally, users who want to take their trading with them wherever they go can download the CoinEx mobile app for both Android and iOS devices. Interestingly, aside from downloading the Android version from the Google Play store, users can also download the APK version directly from the website if they prefer, removing the need for a Google account, but also not tying the download to your other data if that is what you prefer. 

Users who run into any problems on the platform can get help through several channels. The first is their Help Center, which features answers to common questions and detailed guides to using the exchange. A Help button in the lower right corner of the screen lets you enter your inquiry and lists out all articles that could help you. 

If you can’t find what you’re looking for, or you have a specific issue, you can contact their support either through that same Help button, which has a Contact Us option at the bottom or at the top of the screen through the Submit Request option. You will have to provide the email address connected to your account, the type of issue you’ve run into, and a detailed explanation. On the exchange’s side, they note that they will reply as soon as possible.

CoinEx Security

To ensure the safety of their users funds, CoinEx uses multi-sig cold wallet storage, although they do not specify what percentage of the funds deposited with them are kept offline. They also add that collaboration with the world’s top-tier security team [provides] full-dimension protection, but there is no information as to who makes up that security team. The exchange has never been hacked in its 4-year existence. 

CoinEx holds the Estonian digital asset trading license, which means that all your funds on the exchange will be 100% reserved. In other words, they cannot be used for any other purposes, which makes withdrawals quick and efficient and ensures that you don’t have to wait for them to make up for anything they used elsewhere. 

Another important security aspect is their Bug Bounty program, which encourages technologically savvy users who recognize bugs or other issues on the exchange to report the threat and receive a reward of up to USDT 10,000 in return. The minimum reward is USDT 200, which means that even the smallest exploitable bugs that are turned in will be rewarded. 

When it comes to the security measures that users are encouraged to take, aside from generating a strong password and setting up two-factor authentication (either through Google Authenticator or SMS codes), users can also set up an API withdrawal whitelist on WEB and API separately. 

When you log into the exchange, you will receive an SMS or email with your IP address, time, and location, so you’re immediately notified if it wasn’t you. You will also be notified if your IP address changes frequently (for example if you use several devices or if you travel often), and all deposits and withdrawals are also sent to your email address or via SMS.  

CoinEx was ranked 80th out of 150 exchanges by research company CryptoCompare, giving it a B grade overall. The weakest points according to this ranking is the lack of transparency when it comes to the team, but the lack of a forced KYC and no adherence to strict regulatory frameworks are another reason for its relatively low ranking. In terms of market quality, data provision, and security, the exchange scores relatively well. 

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CoinEx Deposits and Withdrawals 

Funding your CoinEx account is simple. Deposits are free, and to send cryptocurrencies to your account, you will have to click on Assets, choose Deposit in the drop-down menu, find the coin you want to deposit (don’t forget to choose the protocol type if applicable), and copy your CoinEx address to your wallet. There is a minimum deposit amount for each token that is available on the platform, all of which are listed here. There is no maximum deposit limit. 

While it is not exactly possible to deposit fiat funds to your account, you can use fiat to directly purchase crypto on CoinEx. As mentioned above, there are six third-party payment providers that are accepted: Simplex, XanPool, Mercuryo, Paxful, Moonpay, and AdvCash. 

Withdrawals are also straightforward. After entering the amount you wish to withdraw and the address where you want to send your tokens, you will have to confirm your withdrawal request through an email and then wait up to 15 minutes (up to 30 minutes for large amounts) for the request to go through an internal audit. 

After that, you will also need to wait for the required block deposits to go through, depending on the rules of the blockchain in question. The platform only charges the required miner fee for withdrawals. 

It is also possible to sell cryptocurrencies for fiat on the exchange, but only using Mercuryo. Important to note, however, is that CoinEx only supports RUB when selling cryptocurrencies. EUR and USD will be added soon, according to the exchange. 

Conclusion 

CoinEx is an excellent cryptocurrency exchange for people looking for a strong spot trading market with the possibility of choosing perpetual futures and margin trading for more experienced investors. The number of supported tokens is immense and still steadily growing, which means you will be able to find an excellent selection of low-cap altcoins here. The exchange is especially well-suited to users who prefer their privacy.

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The post CoinEx appeared first on Cryptonews.

LiteBit is a well-established and reliable Dutch cryptocurrency exchange. As a platform on a mission to become leading European crypto broker, it offers its users the following features and capabilities:

• Fiat-to-crypto and crypto-to-crypto trading. Provides fiat-to-crypto and crypto-to-crypto features with over 50+ cryptocurrencies such as Bitcoin, Ethereum, Cardano, Ripple, Chainlink, Litecoin and others, with some being difficult to find on other exchanges.
• Good liquidity. Buy crypto with iDEAL, SEPA, Sofort, Giropay, Mister cash and other payment methods that streamline the process. You can also link your bank account to have an easier access to your crypto funds.
• Easy-to-use interface. The design is simple and clear, from the registration to market overview to trading. Whether you are looking for which cryptocurrency to buy, check market prices, or trading in general.
• Customer support. With automated instant chat, email that lets you receive in 24 hours, and even phone support during their working hours, the customer support is extensive. This is probably a big reason why the exchange has been popular with the public. Phone support is rare for cryptocurrency exchanges and having this on hand, and it is a big plus for LiteBit.

Background and history of the exchange

LiteBit was founded by two crypto enthusiasts. Their mission: make trading simple. From the early days of Litecoin, which was then followed by Bitcoin, they went on to build the currency exchange that we know today.

As interest grew, investestors saw its potential and LiteBit’s new website was up and running by the time of the 2017 bull run. This was when users all across Europe discovered LiteBit and the features that they offer. After the run reached its peak, they moved to another headquarters that overlooked Rotterdam.After this, they began to make a name for themselves and are still looking to become the best crypto brokerage in Europe.

Their strive to be Europe’s best cryptocurrency exchange is shown by winning the best crypto broker award 2019 and 2020, after having grown to 50 employees. They are not stopping there, however, and are continuously looking to improve, as shown by their experienced team and the activity of the exchange.

LiteBit’s team consists of 55 employees with Oliver van Duijn as the CEO. The team, which consists of a FinTech team with a FinTech Board director, Digital Marketing Strategist, Crypto Fraud Specialist and Department, Legal and Compliance Officer, experienced UX designers, the team has members who are experts in keeping a brokerage up-to-date. And with how fast the cryptocurrency space moves, it is good to know that they have an entire team that is capable of keeping LiteBit at the forefront of the crypto world.

Overall, the level of professionalism is top notch and you can expect that seasoned veterans of crypto are running the show. This, combined with the fact that LiteBit has been around since the early days of crypto, makes it have a high degree of professionalism and experience.

Regulations, licenses, jurisdiction and supported countries

In 2021, LiteBit partnered with RIDDLE&CODE, FinTech solutions, a cutting-edge European company that manages all facets of digital assets. Now, their Token Management Platform (TMP) to scale, which allows for up-to-date proficiencies. Because of European Union regulations on crypto that have increasingly clamped down, this is a good assurance for customers that LiteBit has taken the necessary steps to continue being a relevant cryptocurrency exchange for the next generation of finance.

This makes sure that LiteBit is in compliance with all the rules and can scale their business accordingly to attract more customers to its growing platform.

As of right now, they support several countries and have a list of countries they do not support, a notable one being those who identify as a person from the United States. You can find their full country policy here.

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Verification requirements and account tiers

LiteBit requires that you put your name, phone number and passport identification in order to begin trading on your account.

Because of Netherlands law, they require you to submit KYC to start trading, but it is nothing out of the ordinary. These verification requirements, like name, phone number, and passport ID, are commonplace for many exchanges

Tier 3 verification – phone, address and ID verification with valid passport: Daily, weekly, monthly limit of up to EUR 200,000, EUR 1,500,000 and EUR 1,500,000 respectively.

LiteBit takes security seriously, so they implement the necessary verification procedures, repeatedly doing checks on multiple accounts for fraud. This is in compliance with European and Dutch crypto trading protocols.

LiteBit Fees

LiteBit charges a 2% transaction fee for all transactions, which is average for the industry. However, updated in 2020, they lowered the fees for some of the most popular cryptocurrencies. And for those who use the exchange a lot, they have a LiteBit credit system that allows you to save money on fees, rewarding those who spend their time on the platform. This is a great incentive for loyal customers who continuously use the exchange.

You can find more information about LiteBit credits here.

LiteBit Design and Usability

LiteBit’s user interface can be summarized in three key points:

1. Simple, clean design
2. Perform crypto-to-crypto trades
3. Real-time market assessments

The design of LiteBit’s interface is clean and simple, with a white background for even their trading charts. This makes it easy for users to get onboard the site, from registration to verification to trading to asking for support help. The blue at the top with the white lettering makes going to each section straightforward. The gold that highlights the important buttons, like signing up and trading, are also coherent with the design. The white, uncomplicated background makes everything a breeze to find and use.

It is as simple as selecting your crypto at the top left corner to be shown the real-time market price and buying your cryptocurrency. The whole process is fluid.

When making a purchase, you can choose the options at the top to buy the crypto right away at market prices. So going from registration to buying your first cryptocurrency is a streamlined process and you will be trading cryptocurrencies in no time.

LiteBit Wallet

One of the unique aspects of LiteBit is their wallet. Although they are more commonplace now, when it was first launched, this wallet made LiteBit an innovative brokerage in the early days. It is still intact, designed and updated for the next generation of crypto. The LiteBit wallet is a cold wallet, meaning that it is stored offline and can exchange currencies when logged onto the internet.

You can use this wallet to sell directly for euros, making it a good option for those who are looking for an exchange with advanced wallet functionalities built in.

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Affiliate program

LiteBit also has an affiliate program that you can be up-to-speed with recommending friends to the platform. Through this program, you are given an affiliate link to take advantages of

1. 25% of the profit margin
2. Being paid in LiteBit credits for your account
3. Free service with LiteBit wallet

So if you are someone with a network of friends or associates that are into cryptocurrencies, you can leverage that network to your advantage through LiteBit’s affiliate program. And if you have multiple friends who trade on the daily, you can potentially make profits in more ways than just trading cryptocurrencies.

Mobile app

The mobile app has many of the same qualities as the original with the same clean interface. With this, you can conduct trades on the go, which is a necessity in the crypto world with how much the price fluctuates on a given notice. Litebit’s app is, in essence, your cryptocurrency portfolio on the go with trades you can make at the tap of a button.

The mobile app allows you to:

1. Trade instantly. Be ahead of the market and countertrade crypto volatility with instant transactions.
2. Fluid transactions. Trading can be as simple as tapping a button on your phone.
3. Biometric security. You fingerprint can secure your account, making it certain that you are the only one that has access to your funds.

Customer support

As mentioned, their customer support is excellent in comparison to other exchanges. So if your money is valued in this area, then this is a good reason to have LiteBit as your broker. With a 24/7 automated assistant and the ability to actually phone the broker, this makes Litebit impressive. There are many brokers that simply do not offer their phone number to contact for help. The fact that Litebit has a department for this should pique the curiosity of many crypto fans.

LiteBit Security

LiteBit constantly reviews the accounts that are created on its platform, providing an extra layer of security.This, along with a Crypto Fraud Department Team that is always on the lookout for any suspicious anomalies in their system. They have really stepped up in the last few years to make sure that their customers are safe.

You can find a detailed rendition of how they comply to tighten their exchange’s security and some features to help you recognize fraud.

The exchange encourages you to implement 2FA in order to completely secure your account. Also, you will need email verification if you’re using the platform on another IP address. The website also has articles detailing ways for you to ensure that you are doing everything you can to make your account as secure as possible.

Conclusion

You can expect a high grade of professionalism and customer-oriented mindset when it comes to LiteBit. They are an exchange that has been around since the early days of crypto and are continuously adding onto their repertoire to give their loyal users more reasons to enjoy the platform. Although very beginner-friendly for entry-level cryptocurrency users, advanced traders can also add this exchange and all its features to their options.

The post LiteBit appeared first on Cryptonews.

Key Features

LetsExchange.io is a project with the simple premise of instant, effortless crypto exchanges. With no Know Your Customer (KYC) or registration required and using SmartRate technology that selects the most profitable rate across multiple exchange platforms, LetsExchange.io is a great choice that does the most important aspects of crypto extremely well – it executes swaps efficiently, securely, and privately.

• Instant, effortless crypto-to-crypto swaps. Registration-free, easy-to-use, with a fully automated exchange service, LetsExchange does one thing really well: seamless crypto exchanges, with more coming soon.
• Extremely varied cryptocurrency options. With over 210+ cryptocurrency coins to exchange, you have a vast array of cryptocurrency trading options at your disposal.
• Limitless Trading. It provides both fixed and floating rate options, and doesn’t apply upper transaction limits. As a result, it is suitable for crypto traders of any preferences and trading turnovers.
• Security. LetsExchange doesn’t store users’ funds or personal data with its non-custodial system. All coins are validated and all data is encrypted. The website has an SSL certificate and DDoS protection.
• SmartRate technology. For every swap, LetsExchange instantly selects the most profitable rate across multiple major exchange platforms. It also uses its own inventory of coins.
• Transparency. The exchange process is clear and transparent at every step, and the user can request a receipt with full transaction details.
• Real-time support. Available 24/7. It comes with a chat bubble on the right corner, where you can list out your problems and concerns.
• Fixed and floating rates. Users can select the Fixed Rate option to get the exact amount they see when starting a trade. The classic exchange flow with floating rates is also available.

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LetsExchange History

Founded in 2020, LetsExchange.io completed its full-fledged platform launch on March 1, 2021. Although new, it has already developed into a fully functional application with a simple, easy-to-use interface that will only be adding more in the future.

The beginning stage of the LetsExchange upgrade is complete and more features and benefits for crypto traders and investors are on their way. Although the layout looks simple now, detailed exchange statistics, analytics, portfolio management tools are coming soon along with other updates. Any fan of the exchange will greatly appreciate the additions that are forthcoming.

On top of the multitude of cryptocurrencies already available, LetsExchange is looking to add an array of coins, reaching near 300 cryptocurrencies for traders to use. The exchange has also announced new language versions of the website so that users across the world will be able to use the platform.

And if you have a network of crypto enthusiasts, you can be a part of their affiliate program and have a wider range of ways to utilize the LetsExchange and increase your earnings, especially with a variety of integration options that are coming onto an affiliate program.

You can expect additional features added on as the exchange continues its growth.

Regulations, licenses, jurisdiction and supported countries

There are no verification requirements or account tiers with LetsExchange, making it one of the easiest exchanges to use with instant feedback on your crypto.

Since it has no Know-Your-Customer (KYC) verification needed in order to get started, LetsExchange is only limited by whatever the jurisdictions of a user’s country as no personal information is taken. Theoretically, anyone in the world can use LetsExchange, making it convenient for anyone having trouble solidifying their crypto assets through other means.

LetsExchange Design and Usability

The design has the visual of a decentralized application with a simplified interface. This simplicity has its charm and utility. The user intuitively knows how it functions with how neat everything looks. The words for the process, Details, Deposit, Exchange, are large and supported by a white background. It’s very clear where you should enter your crypto address. The exchange button, like in a decentralized exchange, is shown in big bold letters, making it able for anyone to use.

Overall, the design is minimal, emphasizing the streamlined process that LetsExchange is proud of.

Its ease of use can be demonstrated by exchanging any designated currency pair in clear, concise steps. First, select which trading pair you want to exchange.

After that is done, you input the wallet address that you’ll use to receive the currency you want.

After that, you will choose whether you are okay with slippage, meaning if you are fine with the price deviating a little bit from the one set. Once you check and confirm the exchange details, the exchange will prompt you to put in your deposit address, the address you will take money out of in order to complete the exchange.

After that, you are all set! Simple. Also, you can request a receipt or sign up if needed.

As demonstrated, LetsExchange is one of the easiest-to-use exchanges, with its clean, minimal design. Not only that, there is a receipt system that keeps track of your transactions. And with the excellent customer support the platform has, you can expect to hear back from any problems you might encounter.

This receipt system is what makes LetsExchange unique, which is not what you would find in other exchanges. Traditional centralized exchanges usually need a whole array of personal information from you in order to have you purchase crypto. On the flip side, decentralized exchanges, although fast and with no KYC, provide very little support, since smart contracts govern the entire protocol. LetsExchange mixes some of the best qualities of these worlds, the simplicity and ease of decentralized protocols with support like centralized exchanges.

Perhaps the main draw of LetsExchange is in how usable it is with its 210+ cryptocurrencies. To make hefty profits in crypto trading, you need to be quick in how you react to the market. Peaks may turn into dips and vice-versa…in a matter of hours.

If there is a new, hyped coin that you want to buy right here, it can be a difficult task to buy. Although only a few exchanges support the coin, you still have to register an account, documents, and wait for all the KYC details to be approved. When it’s finally done, the price might not be in your favor. And with most exchanges other than LetsExchange, you have transaction limits or at least a tiered system you need to go through in order to have the full freedom to make all of your transactions.

Without extensive sign-up hassles, the ability to trade immediately, and have no trading limits on the trades you execute, LetsExchange looks to fill a unique niche in the crypto trading world, especially when you consider the receipt system, which has already given users a bit of breathing room, giving LetsExchange traders the peace-of-mind that their transactions are tracked.

Along with these functions, LetsExchange comes with some data on the rates that are out during the time of your trades.

LetsExchange has already mentioned that they are planning to add on significantly to features like this in order to give you a fuller exchange experience with charts and trends you can keep track of, so look forward to these updates if you become a fan of the exchange.

LetsExchange Affiliate Program

LetsExchange also offers an exclusive affiliate program if you contact their support and message them.

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Customer support

You can find extensive reviews on customer support TrustPilot. Scrolling down, most have given positive reviews and remarked on the customer service. This is one of the main draws of LetsExchange and may be one of the best in the industry in this regard. With many exchanges that take a while to respond when you could be losing valuable trading time, this is a welcome addition to the world of cryptocurrency.

Here are a few examples.

At the bottom right of each page, you can quickly spot the chat bubble and see if any of your issues can be immediately resolved. If not, you can give your email and a representative will get back to you.

Besides, you can find LetsExchange on a variety of media channels:

• Twitter
• Reddit
• Medium
• YouTube

System security measures

LetsExchange doesn’t store your funds or personal data. Every coin in the exchange has been validated and double-checked, with the platform’s security enhanced by encryption, an SSL certificate, and DDoS protection. As mentioned, LetsExchange has a receipt system that makes it convenient for you to share any problems you have had using the exchange.

Also, the system requires that you use your own wallet, allowing you flexibility to use the most secure wallet that you can personally find. This gives increased security, since LetsExchange doesn’t have access to your private keys and you can pick whatever wallet you deem the safest.

As mentioned, you can find reviews on TrustPilot. Several customers have already shown their satisfaction with the exchange. And those who had problems aired out on TrustPilot have been responded to by the exchange’s staff. It is refreshing to see this kind of engagement with users, as it is often a rarity nowadays.

Deposit and withdrawal methods

Deposit and withdrawal is dependent on your wallet. All you have to do is copy and paste your wallet addresses into the application in order to use the exchange. As mentioned before, LetsExchanges doesn’t provide and manage a wallet for you, unlike traditional exchanges, giving another level of security since no one has access to your private keys. All your assets are stored in your own wallet, so only you can send the amount that you’re exchanging to the platform.

Conclusion

LetsExchange provides a private and simple way for you to exchange the crypto that you want. The design is clean and easy-to-use, so if you’re looking for a new way to generate fast transactions for your crypto, then Letsexchange.io will allow you to do just that and more. With SmartRate technology, an extensive range of coins and intuitive UI, LetsExchange may be what you need to begin using crypto comfortably.

Overall, LetsExchange is an exchange that you should try if you value privacy and anonymity above all else. With such an active customer support system, risks are mitigated. You can always get a clear scope of your problem and find possible solutions to them in a timely manner. Even though some features are coming out soon, LetsExchange’s simple and clean functionality allows you to be comfortable in doing the most important aspect of an exchange: trading cryptocurrencies.

The post LetsExchange appeared first on Cryptonews.

Binaryx Review: Key Features

• Fiat-to-crypto onramp with high liquidity – Other than depositing crypto to trade, the platform allows trading with USD, EUR, UAH, RUB. It already supports purchasing Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tether, Ripple. 30 more cryptocurrencies will soon be released.
• Academy feature – With their academy, Binaryx has learning tools that range from Beginner to Hero, so that you can ease your way into cryptocurrency and have tools you need to become more advanced.
• 24/7 Support – Not only do they have a chat bubble that appears at the bottom right corner of each page, Binaryx also has an extensive FAQ, email contact, Telegram, Viber, and WeChat accounts, hosting a whole range of support not normally seen on most exchanges.
• Emphasis on Security – With a whole range of security options, regular audits, partnering with a cybersecurity company, following regulations, and extensive background checks on employees with several interviews, Binaryx puts clear significance to having deep security protocols.
• Clear Roadmap for the Future – Planning a professional ETF Index, payment gateways, advanced referral systems, crypto futures, CFDs, business tokenization, online payment system, and an international digital bank, Binaryx has provided a clear commitment to continuous improvement for users. Already hitting many of their targeted objectives, they are walking the path to realizing their goal as a next-generation asset exchange.

Background and history of the exchange

Binaryx was founded in 2019 with the goal of creating the next generation of digital asset exchange. In January, they added liquidity providers that rank as high as #1 or #2 in countries like Singapore and Ukraine as well as having their own liquidity. By March 2020, they finished their intuitive cold wallet design. By October 2020, a matching engine and spot trading terminal were completed, ready for users to trade. Showing their high potential, they won Silver at the prestigious Horizon Interactive awards 2020.

Not stopping there, Binaryx has displayed a commitment to become a great cryptocurrency exchange by laying out an entire road map that continues on until 2022. These include a Pro ETF Index, CFD’s, business tokenization, P2P Exchange, and more.

February 2021, their original tokenized couple-focused Valentine’s token, SDVT, delighted many in the cryptocurrency community. This caused many new users to become more engaged with cryptocurrency tokens, showing the potential of Binaryx’s vision for tokenized assets.

One of the most prestigious awards in web design and creative media, the Horizon Interactive awards in 2020 had Binaryx, winning Silver, not long after their exchange was fully operational. Binaryx is fully deserving of the reward and it can easily be seen when a user clicks to open the website. It is inviting and easy to navigate.

Starting off on a strong note, with a clear and steady roadmap to becoming a great exchange, Binaryx’s goals are to continue its success and become a part of the next generation of financial services.

The heads of Binaryx’s team are all heavily experienced with developed expertise in their role and are transparent as to the responsibilities of each team member.

The Founder is Oleg Kurchenko, who is also a Co-Founder of youdigital.io, making him familiar with both crypto and online interfaces. He has the know-how and experience to successfully run an exchange.

Their Chief Financial Officer, Arkadi Oislender, has a strong history in financial services, having worked before as a trader, general manager, and CFO.

Chief Technology Officer Viacheslav Krasnov is an experienced Android Developer and technology Project Manager.

Dan Zaitsev, their Chief Product Officer, has over ten years of experience building tech startups.

Ilona Ivanchuk, their Chief Content Officer, has been the Head of a Sales Department and is also the head of marketing.

Their Chief Marketing & Communication Officer, Max Baburin, has been Head of Marketing Operations for several companies.

With experienced officers at the helm of their team, it is clear why Binaryx has made strides in their platform.

Regulations and verification

Run by BinaryxOÜ, Binaryx is officially licensed to conduct trading operations and is looking to become operational in more countries.

There are no verification requirements or account tiers. However, to deposit fiat, you have to go through a verification module, which includes ID verification, a selfie, and a payment method, which is standard for any exchange that you want to deposit and withdraw fiat from. Binaryx, for now, has a focus on being a crypto-to-crypto exchange with high liquidity in that regard. However, you would need to send your funds to another exchange in order to liquidate your funds into fiat. Expect liquidity upgrades in the future.

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Binaryx Fees

Binaryx has a unique fee system. Their fees are 0% but only after you have subscribed with their USD 9.99/per month system subscription, increasing your ability to exchange crypto to USD 100,000. This is a great offer. Often, with just one transaction an exchange will charge you more than USD 9.99. It gives a great incentive to begin trading on Binaryx.

It is a surprise that many other exchanges don’t utilize this concept since it is a popular method in many other industries. This makes the fees low. You just need one payment a month for all trades. If it continues to stay like this, it should attract many crypto enthusiasts and have them keep an eye out for Binaryx’s potential as an exchange.

Design and usability

The design is one of the best things about Binaryx. If you are planning to look at a trading screen for hours at a time, the interface, font, and simple color palette should be on your radar for cryptocurrency exchanges. The website’s font and design are welcoming, with all of the notable sections clearly displayed at the top. It does not overwhelm and is inviting to anyone new to cryptocurrency. The trading platform also has one of the most pleasing fonts you can find. If you are looking towards running your own cryptocurrency trading business, Binaryx has one of the best designs to look at the screen for hours.

However, there are not so many tools yet for experienced traders who are adept at margin and futures trading. For the majority of traders, this is not an issue since many high-leverage options are risky and require a lot of experience. Binaryx’s roadmap shows, however, that they are continuously improving and should have a whole range of advanced trading tools by the end of the year.

Registration is simple with hardly any Know-Your-Customer (KYC) needed to fully onboard you. All you have to do is put your name, email, password, and country and you can start trading. Depositing cryptocurrency is also a breeze. To deposit crypto, you just have to send money to your wallet, like any other quick crypto deposit. If using fiat to trade, you need to be verified before using your credit card. You can begin trading right away with a minimum deposit of $5. The way that this is laid out is in big, bold font, lean, and simple to use.

For now, Binaryx supports advanced orders like limit buys and spot trading. By the end of July 2021, they are aiming to support margin trading and crypto futures. Staking protocols are scheduled for October 2021 and CFDs will be available by the end of the year.

Academy

Binaryx eases new users in with their academy program. If you are just getting started with cryptocurrency, this tool could be valuable for your future engagement with cryptocurrency and blockchain in general. For now, there are only videos for those who are beginners to cryptocurrency, but they have a Hero section for future advanced videos for advanced traders once those options become available.

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Customer support

Having a wide array of support options, Binaryx has a good foundation when it comes to customer support, really focusing on becoming a user-focused platform. Many exchanges only have a support ticket and don’t even have access at all to a chat bubble or other ways of communication. Not only does Binaryx have a support ticket, but Binaryx also has ways that you can communicate with a representative through Telegram, Viber, and WeChat.

Security

According to Binaryx, they invest thousands of hours on cybersecurity measures. Partnering with 10Guards, Binaryx has developed multilevel access to files, servers, and workstations.

With fail-safe uptime, their cloud architecture and microservices aim to be top-notch, hosting their servers in some of the best datacenters in the world. Having engineers in diverse cross-regional data centers to boost performance, it is obvious that Binaryx takes security seriously. Following Data Center Certification protocols, Binaryx only utilizes certified data centers. Along with this, Binaryx follows the EU’s General Data Protection Regulation (GDPR) requirements. Tracking anomalies, threats, and abnormalities, their cybersecurity team regularly monitors activities on the platform.

Their work speaks for itself. They have never been hacked and are only adding to their security protocols.

Binaryx is also very upfront about how they vet their employees. Anyone who joins the team has to pass screening tests and interviews, along with background checks done by their security department. Multiple-round interviews, for their skills in becoming an employee or partner, are also done, with a final team that decides whether to move forward with a candidate.

Their wallet is also cold storage, free-to-use, and organizes all your cryptocurrency in one place. Using only trusted payment gateways like Visa and Mastercard, Binaryx manages to avoid double currency conversion charges because they aggregate their payment gateways.

User account security measures

Right now, they have 2FA security measures and are working around the clock to add Device & IP Management, Withdrawal Whitelist, Anti-Phishing Protection, Permission-Based Access, IP Whitelist, and Withdrawal Address Whitelist. 2FA is the regular standard and Binaryx wants to ensure more security for users by integrating future security measures.

All in all, Binaryx’s commitment to security is something to pay attention to when you are looking to keep your funds or trade on an exchange.

Deposit and withdrawal methods

Depositing funds is as simple as sending them to a wallet address. As mentioned before, to be able to deposit cryptocurrency, you only need to provide Binaryx’s wallet address to another wallet you have and send your cryptocurrency there. You may also scan a QR code. To send fiat, you need to go through a verification process that is pretty standard for any exchange.

As of right now, you would need to transfer your crypto to another exchange in order to liquidate it, a process that should not be difficult for experienced users and only requires a bit of looking into for those new to cryptocurrency. This is a common trait in even established exchanges that want to focus on crypto-to-crypto trading. Understandably, many may not like this feature. However, the roadmap looks as if they are adding even more liquidity tools to improve user experience.

Conclusion

If you are just beginning to trade in cryptocurrencies, Binaryx would be a great platform for you to start with, especially since the user interface and design may already be one of the best in the industry. And once you have gotten comfortable with trading on Binaryx, the future improvements they have will come to fruition and give you more options to utilize your gained crypto experience. With an ability to ease in users and a road map that shows high potential, Binaryx is an exchange with lots of promise. In the future, with all of the upgrades and continuous commitment to improvement that Binaryx has shown, the platform is likely to become a great crypto gateway for everyone.

The post Binaryx appeared first on Cryptonews.

OKX Review: Key features

Too many options could be daunting for someone just getting into crypto. Although there are such a range of finance choices with OKX, the platform is arranged in a simple and welcoming way. With a multitude of cryptocurrency pairs, fiat-to-crypto gateway, it is easy to see why OKX has become one of the biggest exchanges around. The high amount options you have at your disposal are reason alone to add OKX to your repertoire of exchanges:

• Fiat-to-crypto on-ramp: OKX supports 400+ trading pairs and allows you to use Apple Pay, Visa, Mastercard, bank transfer, Alipay, WeChat pay, etc, to convert your fiat into crypto. They also support 30+ cryptocurrencies from Canadian dollars (CAD), Chinese yen (CNY), euros (EUR), Japanese yen (JPY), Hong Kong dollars (HKD), Chilean peso (CLP), and many more.
• Margin trading: Using margin trading with up to 125x leverage, with perpetual, futures and options trading as well, there are a good amount of tools users can use to trade.
• Finance options: A plethora of finance options with Earn, which lets you earn passive income on your crypto holdings, Loan, Jumpstart token staking feature, mining pool, OKX bridge feature, OKB utility token, OKX Cloud, OKX Blockdream Ventures, the options available are vast and some of the widest in the industry.
• Extra security options: With mandatory 2FA authentication, mobile verification, Google Authenticator options, anti-phishing code, OKX’s claims of making security a priority are sound.
• Decentralized exchange option: Along with standard DEX trading, OKX’s decentralized platform offers swap trading, liquidity pools, farm pools, decentralized wallet, OKX has tools for those who would rather exchange in a decentralized fashion.

Overall, OKX will let you plunge deep into the cryptocurrency ecosystem with options you can experiment with. The platform attempts to become a ‘one-stop marketplace’. In many ways, OKX has succeeded in that regard.

History and Founding

Built by OKCoin, an early Chinese exchange, the Hong Kong company OKX moved to Malta in 2018. The government shared many values that correspond to developing a cryptocurrency exchange. Malta has a reputation for having sound regulations for digital assets and blockchain, making it a prime destination for OKX to further its mission to ‘strive to eliminate financial barriers, evolve the global economy, and change the world for the better.

In November 2018, OKX won the Crypto Exchange of the year at the first edition of Malta Blockchain awards, edging out other finalists like Binance.

The company released major upgrades in 2020 that keep in line with this mission, releasing 170 upgrades. These upgrades include many of the ones that have been mentioned already, like Jumpstart that supports promising projects and the OKX Chain genesis block, as well as things like trading rewards, P2P trading, CTC lending, and so on.

As of 2021, 410 employees work to provide OKX services that reach millions of users in over 100 countries. With daily BTC futures trading volume around USD 1.5 billion, users now have a wide array of tools. With their continuous upgrades to support their high trading volume, OKX continues to build what they deem as the ‘next-gen financial ecosystem.

OKX Fees

Order maker fees are very low, even being free for VIP users who make transactions of more than USD 5 million. For most users of the exchange, this fee is 0.08%, one of the lowest in the industry. By comparison, many exchanges offer at least 0.1% fees. Along with this, OKX has different fees for spot, futures, perpetual swap, and options trading. You can find their fee structure here.

What’s neat about the fee tier structure is that it highlights which one you’re on, so you know exactly what fees you will be paying.

The deposit and withdrawal fees are some of the lowest in the industry as well. You can see it compared to other exchanges in these graphs.

If you have been trading in crypto for a while, transferring your coins to a hardware wallet and having lower fees makes a noticeable difference, with no funding fees required for OKX in terms of withdrawals. Of course, be wary of the fees that the blockchain network charges you.

For a more detailed and comprehensive view of OKX’s withdrawal fees, you can visit this website.

OKX has shown a willingness to evolve and lower fees. In January 2020, OKX lowered the fees on BTC, ETH, XRP, BCH, and USDT-ERC20. This is a good sign for anyone concerned about fees, since this event has indicated that OKX are willing to lower fees if they can, even as they handle more cryptocurrency volume.

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Design and Usability

OKX does not have the flashiest design. But if the platform’s mission is to ‘eliminate financial barriers’ and ‘evolve the global economy’ then its design is simple, neat, and gets the job done. The design is not the most aesthetic but it does not need to be.

If anything, this design choice might actually help. OKX has so many features that it might overwhelm new users if their design was flashier. For those who are looking to just dive right into the crypto world, the user interface eases you into the platform.

At the top left, you have the simpler trading options like buying and selling, which goes to the quick trade option. Through there, you can just quickly buy cryptocurrency with fiat by using Visa, Mastercard, Apple Pay, and Interac.

Next to that, you have the markets that are shown. Although the markets tab appears to have simplified information about each coin, if you look at the top, you will see the sections labeled spot, futures, options, perpetual swap, options, OKX index and trading data. This provides comprehensive overview of the financial instruments that are on the platform.

If you go back to the main page, it gets progressively more sophisticated, with basic spot trading and margin trading.

The trading graphs are where you can see higher detail when it comes to aesthetics. Visually, OKX has one of the more pleasing trading platforms of any exchange right now. Along with having all the normal trading tools like drawing trend lines, the font and the graphs have a rounded-out design and the whole layout is just really nice to look at. If you are going to spend hours staring at a trading screen, this is definitely one of the better ones to keep your eyes on.

Next up, you have the Finance section with an earn option for interest rates, loan options, and a Jumpstart program where you can support token sales of new projects. Here is where you begin to see that OKX is attempting to be a place for finance in general for users and not just an exchange.

The Learn section gives you tutorials of their platform, which are extensive enough and simple to go through. It does a good job of easing you into cryptocurrency trading in general. Under Learn, OKX also publishes regular industry and market analysis and research under the company’s research arm, OKX Insights.

Where OKX gets intense is the ‘More’ section. Going beyond the mere functionality of an exchange, OKX hosts a varied array of tools. OKX is not kidding when they claim to be a ‘one-stop marketplace.’

These features create a sense of uniqueness about OKX. Because of the simplicity of the design, seeing these tabs do not feel overwhelming. Since the ‘More’ tab does not pressure the user, new users can go onto the site without feeling like any of these extra features are required. Experienced traders will notice they have plenty of options to utilize to their advantage.

Along with the low fees, these options are what make OKX unique as it has a whole toolbox waiting to be explored as you dive deeper into crypto.

• Pool – This utilizes a proof-of-work mining service with hedging.
• OKX Bridge – Allows you to transfer assets across multiple chains.
• Wallet – A secure wallet for managing trades, DeFi, storage for 36 cryptocurrencies as you are in charge of your keys with a mnemonic phrase and security.
• OKB – OKX utility token for an entire ecosystem of possible trades, token sales, and even passive income
• OKX Cloud – Don’t like other exchanges? Build your own. If you have the savvy, you can use the platform’s tech stack to build it. This feature really shows OKX’s commitment to being a ‘one-stop marketplace’. You can even build your own exchange with this project.
• Security of Funds – They have a hot wallet solution that offers more multi-layered security options compared to their cold wallet storage option.
• OKX Chain – A decentralized, blockchain ecosystem.
• Status – You can keep up with maintenance information here.
• Rewards – Where you can complete tasks to earn crypto rewards and free Bitcoin.
• Referral – Invite friends to earn more rewards.
• Affiliates – Earn a minimum of 30% fees from invited trades.
• Happy Friday – A rewards program where you can earn 20% OKX income from derivatives and possibly receive gifts like iPhones.
• Broker – If you’ve got the skills, you can become a broker and earn high commissions.
• OKX Blockdream Ventures – A place to fund projects with high potential.

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OKX Decentralized Trading Platform

In case you want to take yourself out of the centralized world for a bit, OKX has an option with a decentralized exchange (DEX) that looks to be inspired by Uniswap. Although there are not too many options to trade right now, as it seems to be in its infancy, it is an interesting feature to have and build upon. Along with the classic DEX swap option, the protocol has a liquidity pool and farming options.

Customer Support

For customer support, OKX has a support center with an FAQ section as well as a page where you can submit requests. Along with this, they have a chat box you can use in case you have a question that is more specific to your needs. As many exchanges do not even contain a chat box to begin with, this is a welcome addition.

From overall general feedback, it seems that the customer support does an adequate job according to reviews from users, with most users generally giving OKX favorable experiences.

OKX Security

Headquartered in Malta, they have the benefit of being in one of the most reputable and favorably regulated locations when it comes to crypto. Having won an award in 2018 at the first edition of the Malta Blockchain Awards should show that they at least have a good amount of security built into their system. The company follows standard security procedures, like 2FA and many more that can be found in the section below. They have a respectable rating when it comes to security as measured by CryptoCompare.

The only time their security has been compromised was when a private key holder was put under a public security bureau investigation. They withheld their user withdrawals for six weeks during that time, much to the consternation of their users. However, this event may have shown that OKX is a responsible platform. OKX did not want to compromise the funds of their users and was communicating with their users during this time.

User Security Settings

Other than email and login, OKX provides a multitude of security layers on the platform.

• Funds password – In order to withdraw funds, the user needs to use a password for authentication.
• Mobile verification – This utilizes the mobile phone to withdraw funds, change passwords, and confirm changes to the account.
• Google authenticator – The authenticator is needed for security and funds withdrawal.
• Mandatory 2FA – Two-factor authentication is needed for withdrawing funds, login, or sending red packets for bonuses.
• Anti-Phishing Code – Higher security for emails from OKX.

Deposit and Withdrawal Methods

If you go to the assets tab, you’ll be able to see the deposit section where you can send from your wallet to the exchange. You can select the currency that you wish to deposit. Double-check and make sure that you are sending the correct cryptocurrency to the correct address or your funds may be lost, like any other cryptocurrency transaction.

With all the great features that OKX has, the withdrawal system may be the main drawback of using OKX. Although it has low fees, you can only withdraw crypto. You cannot exchange your crypto for fiat to withdraw it. This shows the focus the platform has on being a crypto-to-crypto exchange for ‘next-gen finance.’ There are so many cryptocurrencies that you have to exchange with on OKX, some of the most out of any exchange with more than 500 cryptocurrencies. You have a decent chance to find hidden altcoins that could be worth a lot more later along the line.

That being said, you need to send your cryptocurrency to another exchange to liquidate for fiat, which is not too much of a hassle given the low fees. However, it is easy to see why this could be a drawback for some users.

Conclusion

Overall, the complete set of tools that OKX provides shows promising potential, even though the exchange is already large. With the number of consistent upgrades to their platform, they are attempting to be a place where users can have a wide set of financial tools for a new generation of finance. Even with the options that they already have available, OKX has been willing to evolve with new financial instruments. If you want a large platform with unique and promising financial tools to use once you become more experienced in crypto, OKX is a great exchange to have in your cryptocurrency toolbox.

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Paybis Review: Key Features

Paybis is a well-established cryptocurrency exchange that has been in business since 2015, offering an easy way for complete newcomers to enter the cryptocurrency industry with nothing more than a credit/debit card, which many other exchanges do not accept at all. Notable features of Paybis include:

• Credit/debit cards accepted: Paybis is one of the few exchanges accepting these payment methods. You can also use Neteller and Skrill, as well as bank transfers and even Bitcoin to buy crypto.
• Global coverage: Paybis offers their services in more than 180 countries all over the world, as well as 48 US states (the only exceptions being Hawaii and New York).
• No wallets on the exchange: instead of keeping your funds in a wallet hosted by the exchange, they are immediately transferred to your own wallet that you enter during the purchasing process, for security reasons.
• Referral program: for every friend you refer to the platform, you earn 20% of the Paybis fees that they pay—large customers who bring in many referrals or enterprise-level users can discuss receiving an even higher percentage with the team.
• FCA license: the exchange is licensed by the Financial Conduct Authority, the UK regulatory authority.
• Quick KYC process: the KYC process only takes around 15 minutes, after which you’re free to trade.
• Handy conversion calculator: to find out how much a certain amount of any offered cryptocurrency will cost you, simply enter the amount in the calculator on the Paybis website.

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Paybis History and Background

Paybis is a cryptocurrency exchange that was initially a thought experiment in 2014 with the goal of offering access to cryptocurrencies to as many people as they could, with as many different purchasing methods as possible. Its founders Innokenty Isers, Konstantin Vasilenko, and Arturs Markevich had the exchange officially start operations in 2015. The first year was predominantly devoted to the technical aspects of running an exchange. The exchange is also fully self-funded by its founders—it has never, throughout its history, received any external funding.

The three founders of Paybis share decades of experience in IT and have all been involved in the cryptocurrency space from early on. The rest of the c-suite also holds relevant experience to their positions, including prestigious degrees and previous experience at major tech companies.

Paybis is licensed by the Financial Conduct Authority, which is the UK regulatory body for financial institutions of all kinds. They offer global coverage that includes more than 180 countries (only 36 territories are listed as restricted on their websites). This also includes 48 US states, with notable exceptions being Hawaii and New York. Residents of Texas are also subject to some restrictions, like being unable to purchase stablecoins or make fiat-to-fiat transactions through the platform.

After signing up with Paybis, you’ll have to verify your account by delivering the following documents:

• Identity verification: passports, IDs, and driving licenses are all accepted, and you need a selfie with your ID of choice.
• Address verification: you can only submit a bank statement that is not older than three months, regardless of whether it’s on paper or electronic—but the documents must not be modified in any way.
• Additional verification: in special cases, you might need to take a selfie with your credit/debit card, but only if you’re making a payment with it; you may also need to submit a selfie with a handwritten declaration in case you are dealing with large amounts of money through the exchange.

The platform promises that the verification process takes only around 15 minutes on average, but that it can take up to 24 hours in special cases, as long as you do not need to resubmit any documents. Paybis does not offer any account tiers, so you will have access to all the same functionalities of the exchange regardless of how much you intend to trade.

Paybis Fees

The fee system on Paybis is separated into three categories: the exchange’s fees, credit/debit card fees, and network fees.

For your first credit or debit card purchase on Paybis the exchange does not charge its fees (card and network fees still apply). From your second transaction onwards, Paybis charges 2.49% of the transaction total.

The fee you pay for credit and debit card transactions will depend on the currency you’re using. The minimum fee is USD 10 or equivalent in your currency. If you’re paying in USD, EUR, or GBP, the fee is 4.5%; for other currencies, this goes up to 6.5%. If the percentage comes up less than USD 10, for example, then you will be charged the higher amount.

The network fee works the same way as any network fee, like the ones you pay when transferring funds from an exchange to your wallet and vice versa: you can choose the amount and this will decide how fast your transaction will be included in a block and reach enough confirmations.

Paybis Design and Usability

Paybis use is very straightforward: on the landing page, you can enter the amount you wish to purchase, along with the payment method and currency, and have the exchange calculate the amount you receive in return in the cryptocurrency of choice. You can also see the current price of all nine cryptocurrencies they offer:

• Bitcoin (BTC)
• Ether (ETH)
• Litecoin (LTC)
• Tether (USDT)
• Ripple (XRP)
• Bitcoin Cash (BCH)
• Stellar Lumens (XLM)
• Binance Coin (BNB)
• TRON (TRX)

You can purchase any of these cryptocurrencies in exchange for 47 worldwide currencies, which saves you conversion fees. You do not, however, have to use credit or debit cards (although these fiat currencies are only offered in that case): if you have Skrill or Neteller, you can purchase your crypto using either USD or EUR. The platform also accepts bank transfers and Bitcoin.

Of course, before you can go through with a purchase, you will have to verify your account by going through the KYC process described above. Although submitting your documents for KYC can take a while—depending on where you keep your bank statements with your address—the process itself usually takes only around 15 minutes, according to the platform.

The purchase itself is extremely simple. You can either put in the amount of any given cryptocurrency you want to buy or the amount of fiat you can afford to spend. After that (and with KYC done), you simply enter your wallet address, then your payment information and your crypto is sent to you directly instead of being stored on an exchange wallet. You can also save your card information in case you want to make more purchases in the future, so you only have to enter your CVV number the next time around.

In May 2020, the exchange completed a visual redesign that modernized it but still kept the simple approach that set them apart from other, less beginner-friendly cryptocurrency exchanges. The exchange only offers cryptocurrency purchase; as an exception, you can sell Bitcoin alone—either in exchange for another cryptocurrency, or for fiat, but you can only transfer it to your bank account directly or to your Skrill or Neteller account.

Paybis also offers a referral program: when you invite your friends to join the exchange, you earn 20% of the Paybis commission on all of your invitees’ transactions (enterprise affiliate partners can reach out to the exchange directly to discuss a larger payout). There is no upper limit on how much you can earn this way. Your dues are paid on a monthly basis once the minimum amount of USD 50 is met, and you choose whether you’d prefer to receive them in Bitcoin or in fiat, via bank transfer. The platform also offers the payment invoice for download, in case you need it for accounting purposes.

Paybis does not offer a mobile app.

In case you run into any issues on the exchange, the Paybis support team is there to help you 24/7. You can find the live chat button in the bottom right-hand corner of your screen, but you can also email the team with your concerns. Their live chat response is almost instantaneous. However, before reaching out, you can also check their support portal to see if your issue has already been addressed by their extensive guides and how-to articles.

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Paybis Security

The main security aspect of Paybis is that none of your purchased cryptocurrency is stored on the exchange —when purchasing crypto, you immediately enter your wallet address and the funds are transferred there. This means that there is largely no need for extensive security measures like cold wallets. It is, however, recommended that the users take their own precautions like setting strong passwords and protecting their credit card information, as they cannot set two-factor authentication on their accounts.

The exchange has never been hacked. Additionally, Paybis security has not been evaluated by experts in external reports.

If you don’t have a secure cryptocurrency wallet, you can get one from Ledger or Trezor.

Paybis Deposits and Withdrawals

“Deposits and withdrawals” at Paybis aren’t exactly the same as on other cryptocurrency exchanges, considering users never really deposit funds to the exchange, nor do they withdraw anything from the exchange wallet to their own wallet. Instead of depositing and then using the funds whenever you need them, you only send as much as you need to buy the amount of crypto you want, which is transferred directly to your wallet and never stored on the exchange itself.

In that sense, fees are the ones we outlined above in the Fees section. To send the funds to your wallet, all you need to pay is the network fee. Purchases are nearly instantaneous, but the time, until your crypto gets to your wallet, depends on the fee you paid and the number of confirmations required.

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Paybis Review: Conclusion

Paybis is a well-established cryptocurrency exchange with the sole aim of making crypto as accessible to everyone as possible—and nothing more than that. By keeping to their primary purpose, they are able to offer service quickly and reliably. Although the fees seem exorbitant, they are actually among the lowest in the market for this payment method; the vast majority of other exchanges do not accept cards at all.

Paybis is one of the easiest exchanges for complete newcomers who are intimidated by the security requirements of cryptocurrencies: all you need are your own funds, a card, and your own crypto wallet, and you can get started!

The post Paybis appeared first on Cryptonews.

Margex Review: Key Features

Margex is a cryptocurrency derivatives trading platform, meaning they offer only derivatives of the underlying assets and not the assets themselves. Some of their most notable aspects include:

• Up to 100x leverage. For traders who know their way around a market, this offers the chance to potentially increase their profits a hundredfold. However, in case the trade goes awry, it can also incur a loss of up to a hundred times the initial amount.
• Referral program. While most platforms that offer such a program to their customers have tiered rewards and requirements, Margex gives you a flat 40% of all trading commissions made by the people who were referred here by you. While trading commissions are not very high to begin with, it can still be a decent source of passive income—and you get it without actually working for it.
• Proprietary software against price manipulations. Users can rest assured that no unfair liquidations nor price manipulations are happening at Margex, meaning they’re not getting cheated out of their profits.
• High levels of security. 100% of their funds are stored in cold wallets—many platforms keep 98% or 99% of their funds safe, but not necessarily all of them—which means withdrawals are only processed once per day. Additionally, the platform has several levels of security that are regularly audited.
• Limited offer of trading pairs. There are only six trading pairs, which may be considered a drawback by many, but this is because the platform opts for assets that have high liquidity and are not subject to price manipulations. This also lets users trade with assets they already know and trust.
• No Know-Your-Customer procedures. Not only are these procedures tedious, but they are also very invasive. Margex does not require you to disclose your personal information when creating an account—providing an email address and depositing to the platform is enough.

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Margex History and Background

Margex is a cryptocurrency leverage trading platform hailing from Seychelles and founded in 2020. The team behind the project is anonymous. Margex is available to residents of most countries—exceptions include the United States of America, the Republic of Seychelles, Bermuda, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Afghanistan.

The platform itself is unregulated, as they’re incorporated in the Seychelles, where no license or regulation for bitcoin-based trading is required. Thanks to this, Margex can afford to be very privacy-oriented, which means it does not require KYC. There are also no account tiers; in other words, all traders are subject to the same conditions, making for a fair and level playing ground for everyone.

Margex Fees Overview

Compared to most trading platforms, fees on Margex are relatively low: the maker fees will set you back by 0.019% for each trade, while taker fees are 0.06%. The real difference between all the trading pairs, when it comes to fees, emerges in the form of funding rates where each fee, ranging from 0.012% to 0.110%, is charged every eight hours. The funding fees are charged on every opened long and short position according to the following table:

Of course, if the position is closed before the funding cut-off time, then it will not be charged a funding fee at all.

Margex Design and Usability

Using Margex is relatively straightforward: to register your account, you need to provide a valid email address, set a secure password, and confirm that you’re not a resident of any of the countries that are on their restricted list. You’ll need to confirm your email address through a link they send you, and you’re free to start depositing.

Once you’ve deposited the desired amount, all you need to do is click on the Trade tab on the exchange, and you’re ready to go. As far as leveraged trading exchanges go, Margex does not complicate matters too much with unnecessary graphs and information, but they also do not omit anything that’s important for staying abreast of new changes, relevant historical data, and your own positions and their history. It is very easy to navigate, but the trading itself can be challenging enough even for trading veterans, which is what most are looking for, and Margex delivers.

Up to 100x leverage trading is their forte. They also offer perpetual futures with the same maximum leverage, profit orders, and stop-loss orders. The margin design is Isolated, which means that in case of a loss, you can only lose the funds associated with that position—allowing you to open multiple positions on the same trading pair with different leverage if you want.

Another one of their advantages is a very generous referral program in which anyone can participate. Simply share your referral link with your friends and you get a whopping 40% of the trading commissions paid by them. Even better, in case you have a large following, you can get in touch with the exchange to figure out how they can help you grow your base. The details of this offer are not disclosed on the website.

Margex does not offer a mobile app. In case of issues with the browser-based exchange, however, their dedicated support team is available 24/7 through live chat and email and can help users navigate any and all issues they might have.

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Margex Exchange Security

As the first line of defense, Margex offers a unique MP Shield AI-based system that they developed themselves, which serves to protect against price manipulations and unfair liquidations. As for price volatility that is outside of their scope, Margex evades this problem by simply not listing assets that have low liquidity or that are potentially affected by manipulations. The platform itself consists of several security layers that are independently audited on a regular basis. All withdrawals are processed only once per day by their treasury department.

Margex keeps 100% of their funds in a multisig cold wallet. They also have real-time monitoring and alerts for all asset movements, as well as an access segregation system in case of any in-house malicious activity. There is also no worry that the system will not be able to handle an increase in activity thanks to an elastic server infrastructure designed for this very possibility.

Users can protect their accounts by enabling two-factor authentication through Google Authenticator. All of their account data is encrypted, and all activity is reported to their email address so that they’re aware in case something suspicious happens.

Deposit and Withdrawal Methods

Direct offers and withdrawals at Margex are available only with Bitcoin (BTC). Users can also deposit using a credit card through the third-party provider Changelly. When depositing, users can either copy the BTC address into the wallet they’re depositing from or scan the included QR code. BTC deposits require only one block confirmation, which makes it a little faster than most other exchanges.

As for withdrawals, this is also possible only with BTC. You will need to provide your withdrawal address, your 2FA code, and the amount you’re withdrawing (along with a miner’s fee). As all withdrawals are processed once per day for security reasons, at 13 UTC, it may take a little bit until the funds are in your wallet.

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Margex Review: Conclusion

Overall, Margex is an excellent choice for a cryptocurrency derivatives trading platform with great leverage, especially for traders that are privacy-oriented, prefer low fees, and an offer of tried-and-true trading pairs. Along with their referral program, high security standards, and a very intuitive UI, both newcomers and veterans in the derivatives trading sphere are likely to find their forever home here.

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Bitpanda Review: Key Features

Bitpanda is a trading platform offering more than just cryptocurrencies and aimed at traders of all levels. Some of their most notable features include:

• Safe and secure investing. Bitpanda diligently follows European laws and regulations and holds 10 European licences & registrations. Crypto assets are stored in highly-secure cold storage facilities that are examined by an external auditor. 
• Invest 24/7. Invest whenever you want, even when the traditional stock market is closed. 
• Get started from just €1. Invest in your favourite companies or tokens starting from €1 
• Ten supported fiat currencies. Bitpanda is mostly geared towards Europeans, so they offer support for EUR, USD, CHF, GBP, TRY, PLN, HUF, CZK, DKK and SEK. 
• Stocks, metal, indices, commodities and ETF trading. Aside from cryptocurrencies, Bitpanda also lets you trade the aforementioned assets. All of these are on one account and in one portfolio, letting you manage all your assets from one place. 
• Their own native token, BEST. Using BEST, you can get discounts on fees and VIP treatment if you have a large enough amount of tokens. 
• Extensive helpdesk. Pretty much any issue you run into is covered in Bitpanda’s helpdesk – but even if it isn’t, their customer support team is there to help you, letting you categorise your inquiry precisely. 

All in all, Bitpanda is an excellent choice for European investors and those from other locations who appreciate the breadth of their offering.

Bitpanda History and Background

Bitpanda was founded in 2014 in Vienna, Austria, with the aim of making investing accessible for everyone. The company was initially known as Coinimal, but they rebranded to Bitpanda in 2016, when they expanded their existing suite of features. In 2023, Bitpanda boasts more than 4 million users and over 400 team members and claims to be one of the fastest-growing fintech companies in Europe. 

The broker was founded by co-CEOs Eric Demuth and Paul Klanschek, and their CTO is Christian Trummer, who joined the team a few months after Bitpanda was founded. The three of them make up the core team behind the business. 

The company’s payments service holds a PSD2 payment service provider license, which is a European regulation for electronic payment services, an E-Money licence and a MiFID II licence. Bitpanda is registered as a virtual asset service provider (VASP) in Austria, Germany, France, Spain, Italy, Czech Republic, and Sweden. 

This means that Bitpanda has the highest level of crypto regulation available in each of these countries. The broker itself is a registered digital assets service provider with the Austrian Financial Market Authority (FMA) under FM-GwG and with the French Autorité des marchés nanciers (AMF) under PACTE law. Citizens of the United States are restricted from using the broker, as well as some other jurisdictions, depending on their regulatory framework. However, the broker does not list other restricted countries on their website.

Everyone who wants to trade on Bitpanda has to verify their account. The broker has verification levels where your trading volume depends on what documents you have provided and whether you meet the requirements. Before going through the verification process, users will have to provide a valid mobile phone number to start verification. Bitpanda will send you a PIN code, after which you can go through with the process. As far as identity documents go, Bitpanda accepts passports, while ID cards are accepted from a select list of countries available on their website.

Bitpanda also employs a practice called a verification deposit. Once your account has been verified, you have to deposit an amount between EUR 25 and EUR 2,500 via bank transfer (SEPA) or online payment methods SOFORT or GIROPAY/EPS. Before that, there is a limit of EUR 2,500 for deposits with EPS/GIROPAY and SOFORT, which will be increased after a verification deposit is completed. The verification deposit can also be completed in equivalent amounts in the CHF, GBP, or USD currencies, but it is impossible to deposit cryptocurrencies before this process is completed.

There are some limits even after the verification process is fully completed. The 24-hour limit for online payments such as NETELLER, Skrill, and iDEAL is EUR 10,000. Credit card deposits are capped at EUR 2,500 within a single 24-hour period, while bank transfers go up to EUR 500,000. 

BEST Token

Bitpanda has its native token called the Bitpanda Ecosystem Token (BEST). With this token, users can get a 20% discount on trading and deposit fees, as well as trading premiums. For the latter, there is also a minimum value for BEST, which is EUR 0.132 for 2021 and will increase by 10% annually for the next five years. A part of the tokens spent on trading premiums is burned quarterly until only 50% of the total supply remains.

The token also introduces VIP accounts, depending on the amount you hold. If you’re at least a VIP level 1, which means you hold at least 5,000 BEST, you get a vote in strategic decisions, like which assets get added next. Other perks of each VIP level include:

Bitpanda Fees

On Bitpanda there is a minimum amount for each asset that you don’t have to pay deposit fees for, as well as wallet deposit and withdrawal fees, plus minimum amounts for each, excluding the fee. You can see these amounts in the following table:

Bitpanda Design and Usability

Bitpanda has a simple, intuitive user interface. By clicking on Get Started, you will be redirected to a site where you enter your full name, email address, country of residence and set a password. If you’re looking to open a business account, you can follow a link at the bottom of the page. Once you’ve confirmed your email address, you will be asked to answer several questions that are required by EU anti-money laundering (AML) regulations, most of which concern how much money you earn and how much you intend to trade on an annual basis, as well as verify your account by providing the necessary IDs. You don’t have to complete the verification immediately; while this step can be temporarily skipped, keep in mind you will have to come back to it sooner or later. You will not be able to deposit funds or start trading before you complete this process.

If you’re a complete newcomer or prefer simplicity and ease of use, then Bitpanda is the best choice for you. It is extremely intuitive, and trades are made with only a few clicks. The interface is very clean and tidy, so there is very little chance that a misclick will lead you down a path you don’t understand. However, the broker also lists the top movers at the top of your screen; this is useful when you want to keep track of the market without constantly looking at just the first few coins by market cap.

Bitpanda does a good job of keeping its platform tidy and easy on the eyes, without sacrificing anything vital. However, as Bitpanda is a European broker, don’t let the prices give you a shock—they’re expressed in euros if you don’t explicitly change them into USD. This will give you a lower number due to the difference in the two currencies, not a steep plunge of any asset.

Bitpanda also offers an app on both Android and iOS; however, Bitpanda warns that not all desktop features may be available on the mobile version but adds that they’re working on transferring each of them so that users can use the desktop and mobile platform interchangeably. 

Bitpanda Customer Support

There are several ways for customers to get help on Bitpanda. The first is the Bitpanda Helpdesk, where many questions relating to any part of the broker are answered. Questions and answers are separated by topic, with the most viewed pages listed separately at the bottom.

If that doesn’t help, you can contact their support team. You will be offered a contact form where you can select the type of inquiry you’re making, then select the general topic of your request, after which the site shows you an overview of the topic itself (in case you couldn’t find that before, as it may answer your question). If you still need assistance, you select your preferred language (English, German, French, Turkish, Italian, Spanish, and Polish are available), then enter the email address that you used to create your account, and explain your issue. You can also attach files, like screenshots that may help the team address your problem. Bitpanda’s team aims to reply to all support requests within 72 hours, but they add that it may take longer and that no request is ignored or forgotten.

Bitpanda also has a community where you can talk about things unrelated to your account, like price movements, coin listings, and general changes and their effects. The community can also be immensely helpful with some issues. Still, Bitpanda warns that they do not handle support requests through social media channels and that for any serious questions, customers should reach out to them through the aforementioned form.

Bitpanda Security

Bitpanda uses cold storage for their assets, but they do not specify what amount is stored offline. The broker has never been hacked and claims state-of-the-art security measures that prevent this from happening. When it comes to user accounts, Bitpanda will always require you to verify it’s you through your email address whenever you’re accessing them from a new device, along with always using reCAPTCHAs, and do spot checks with you when you’re changing important data on your account, like your email address or phone number. Bitpanda also offers DDOS protection, as well as using SSL encryption.

Bitpanda is a registered digital assets service provider with the Austrian Financial Market Authority (FMA) and with the French Autorité des marchés financiers (AMF). The Bitpanda Payments company holds a PSD2 license.

As for what users can do to secure their accounts, Bitpanda is also diligent about this part. Aside from prompting you to choose a secure password, you are also encouraged to activate two-factor authentication.

Overall, the broker is considered one of the most secure ones currently in the market.

Bitpanda Deposit and Withdrawal Methods

Depositing cryptocurrencies to your Bitpanda account is extremely straightforward: you simply send the assets from your personal wallet to the account’s wallet, either by copying the address or scanning the QR code. You have one address for each asset; if you want to get more to make your assets less traceable, you will first have to use the existing address. Bitpanda’s support page has a very detailed explanation for each asset and anything you need to keep in mind when depositing, with all the quirks and specifics that a coin may have. Deposits will be credited automatically as soon as they have received 6 confirmations from Bitcoin miners or the equivalent level of security on other networks.

You can also deposit fiat currencies. To do this, you will need to choose the currency you’re depositing, which needs to be one of the following:

• Euro (EUR)
• US Dollar (USD)
• Swiss Franc (CHF)
• British Pound (GBP)
• Turkish Lira (TRY)

You will also have to choose the payment provider you want to use. Verified accounts can deposit with SEPA, GIROPAY/EPS, SOFORT, NETELLER, Skrill, Visa, and Mastercard to their Euro Wallet. Bitpanda To Go vouchers can also be redeemed for cryptocurrencies directly. Other fiat currencies have a slightly more limited choice of payment providers; for example, TRY can only be deposited through bank transfers. The broker offers a thorough explanation of each currency’s specifics. Except for bank transfers, you will have to confirm your deposit with an SMS-PIN you will receive once you’ve entered all the details. The amount is credited to your account shortly.

Withdrawals will also depend on whether they’re fiat or crypto. Withdrawing from your fiat wallets is also simple: you choose the payment provider and, if necessary, create a payout account with them (usually only required for the first time you’re withdrawing), enter the amount, and confirm. For fiat, both deposits and withdrawals must be EUR 25 minimum or the equivalent in other currencies.

Withdrawing crypto is also easy. From the Send option in the top right corner, you’ll need to select the asset, enter an amount, and the address you’re sending to. When withdrawing ETH, you will also need to confirm you’re not investing in an ICO and that you understand that Bitpanda is unable to credit any ICO-issued tokens to your account, which would result in you losing them. Withdrawals to your personal wallet take as long as it is required to get all the confirmations, depending on the coin.

To simplify the withdrawal process further, Bitpanda also offers the Contacts feature. This lets you record an address as a contact, so you don’t have to copy it every time you need to send funds from your Bitpanda account. Additionally, if your contact is the address of another Bitpanda account—in other words, another user—those transactions are free of charge and processed within seconds. You only need the email address the other user registered their account with. When it comes to external wallets (for example, your own crypto wallet), nothing changes other than the fact that you can now save your address instead of always entering it manually.

Bitpanda Review: Conclusion

Bitpanda is a well-rounded broker offering more than you’re used to getting in the crypto space. Regardless of your level of expertise, there is something for everyone, and the fact that you can use both their platforms with one account means that once you’re comfortable with trading, you can level up without the hassle of opening and verifying another account. Their approach to security means that you won’t have to worry about where you’re sending your funds, and the detailed explanations of everything you want and need to know will always keep you well-informed.

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