I have been a part of the financial industry for a while now and have actively been experimenting with different exchanges. There are many online exchange firms that you can trust to sign up with and they are not hard to find either. The investment of your time should be the first investment you should make as a new exchange. You need to spend time in researching multiple exchanges and spend time learning about the basics of trading.
Today, I want to talk about currency.com, a exchange that has made quite a buzz in the online trade industry. This exchange is the first regulated tokenized crypto trading platform in the world. So, I think many new traders want to check this exchange out and experience new ways of trading with it. So, I will talk about some of the best features of this exchange. Read ahead to read about some of the features of currency.com that I consider as the best.
Best Features of Currency.com
Crypto Trade & Crypto Shopping
Currency.com allows you to invest in different assets with cryptocurrency. This means that you are not limited to using fiat if you want to make an investment. So, you can use your cryptocurrencies for more than just currency exchange investments. One thing that you should know is that if you invest using cryptocurrency, then all returns will also be in the crypto form. This exchange offers this service for all cryptocurrencies.
The exchange allows you to purchase cryptocurrencies through fiat and also the other way round. You can use your debit and credit cards to purchase Bitcoin, Litecoin, and Ethereum. You can also exchange your crypto funds into fiat. I was really excited to try this feature and was impressed with the processing speed of the conversion. Traders can use this service to get accurate rates for exchanges of crypto to fiat and vice versa.
Live Streaming of Prices
The finance market is very volatile and prices change all the time. So, you need to find the right time to make investments. You shouldn’t rush nor delay your decisions when trading. The platform live streams the price rates of all the assets it supports. In addition to that, it also shows the trends of the price rates so that you can determine which asset’s value will rise or fall in the future.
This feature is useful for all traders as staying up-to-date with the market prices is essential for good investment decisions. One feature that I really liked about this exchange's mobile app was that it provides the feature push notifications for your preferred assets. This means that you receive price-alerts on your device whenever the price of an asset that you are interested in changes.
Affiliate and Referral Programs
The affiliate and referral programs entail that for every client you bring to the exchange, you will receive a percentage of commission. You have to sign up with their affiliate and referral programs to benefit from this service. With the affiliate program, you get a 40% commission for every trade performed by your client for 24 months. And your clients get a 12% discount on all their trades for a specific time. With the referral program, you get 50% commissions on every trade that your referral makes while they receive a 10% discount on all their trading commissions.
This feature is a really great way of earning income if done right. So, even non-traders can earn an income via this exchange.
Competitive Spreads and Proper Leverages
You should focus on the spreads the exchange offers before you sign up with them. Spreads are the difference between the price that you buy an asset from the exchange and the price you sell it back to the exchange. You will notice that the price that you bought the asset for is higher than the price you got for selling it. Currency.com offers you some of the tightest spreads for crypto trading. You get the market spread value of $0.05 for Bitcoin, which is nice.
As a new trader, you will love trading with leverages. Leverages are the contribution a exchange makes to your investments. Currency.com offers high leverages for trade so that you can reach your financial goals at a faster rate. You can also diversify your trade portfolio quicker with leverages. Currency.com provides different leverages for different assets. For instance, you get leverage of 1:10 for crypto which is a high rate for the asset, and for tokenized stocks you get leverage up to 100.
Despite how exciting it can be to make fast and huge returns with leverages, you can also face equally huge losses. So, always be careful when you make an investment using this feature.
Easy Deposit & Withdrawal Methods
You need to make frequent deposits and transactions as a trader. So, you will find it annoying If the processes of these methods are complicated. Exchanges offer various methods of making deposits and withdrawals. Currency.com provides quick methods for these processes. It takes around three to five business days to process the deposits and withdrawal applications. However, you can make instant deposits and withdrawals via bank wire transfers and e-wallet services.
You need to go through two-factor authorization before any request regarding payment is approved. However, for crypto transactions and deposits you may have to provide more than 2 confirmations of identity. For instance, you need to provide twelve (12) confirmations for transacting or depositing Ethereum.
Currency.com allows you to make payments with credit/ debit cards, Bank Wire transfers, and e-wallets. The exchange charges a fixed amount of fee for these processes and is transparent about their rates. Overall, their deposit and withdrawal methods are quick and easy and do not charge any hidden commissions which is always a bonus.
Final Thoughts
Currency.com is a exchange that has big plans for its future developments. Therefore, I recommend this exchange to traders who are interested in growing with the exchange. This exchange allows you to experience different kinds of trading and provides you with many beneficial features. Moreover, it is a fully regulated exchange that is compliant with various security policies.
Following the rule of thumb, you should thoroughly research this exchange before deciding anything. In my opinion, currency.com deserves a spot on your list of potential exchanges as new traders can get good exposure to the financial industry with it.