The increasing popularity and adoption of cryptocurrency has expanded the wallet market. Now that many well-known traditional and crypto brands accept crypto as a payment option, enthusiasts are constantly on the lookout for safer ways to store their digital assets.
Ledger is one of the most popular hardware crypto wallets in the sector. Since releasing the Nano S in 2016, Ledger has become a household name in the cryptocurrency space. To date, Ledger has launched three models of hardware crypto wallets, the Nano S, Nano X, and most recently, the Nano S Plus. The Ledger Nano S Plus retails for USD$79.
The Nano S Plus is Ledger’s third release from its Nano series, a line of pocket-sized hardware crypto wallets. Ledger’s Nano S Plus has all of the features of the original Nano S but with a few upgrades, including support for NFT storage and management. Additionally, the Nano S Plus has built-in support for interacting with various DeFi (decentralized finance) apps and services. (thetelegramnews.com) The wallet is an effective option for people looking to manage crypto, NFTs, and other decentralized services in one place.
New features of the Ledger Nano S Plus
Ledger introduced the Nano S Plus with an exciting list of features and improvements over the two previous releases. Some of the major new features on the Nano S Plus include:
Bigger display. Same display size of the Nano X but on a smaller device!
Expanded cryptoasset support. The Nano S Plus doesn’t just hold cryptocurrencies, but also NFTs and is the first Ledger device to have DeFi app integration.
Industry-leading security. The Nano S Plus uses the same industry-leading security with CC EAL5+ certification.
Easy setup. USB plug-and-play feature means owners can begin using the device in minutes.
Low cost. The Nano S Plus comes at an affordable price of US$79, making it an attractive option for all levels of crypto traders.
Security features: is the Nano S Plus safe?
The Nano S Plus uses the same certified secure chip (CC EAL5+ chips) as the Nano X to protect users’ assets. This chip employs state-of-the-art technology that guarantees high-level security and asset protection against phishing and other asset extraction schemes. Additionally, the wallet has industry-standard security features, including a security phrase, PIN code locks, transaction confirmations, password encryption, and more.
To learn more about the security features of the Nano S Plus and Nano X, click here.
5/5 Security Rating
Cryptoasset support
A major Nano S Plus feature is the huge roster of supported crypto assets and apps. The Nano S Plus supports over 5,500 assets and can accommodate up to 100 different apps. Some supported assets include:
Bitcoin (BTC)
Ethereum (ETH)
ERC-20 tokens
Dogecoin (DOGE)
XRP
BNB
Cardano (ADA)
Polygon (MATIC)
Litecoin (LTC)
Tron (TRX)
The Nano S Plus has 1.5MB of storage and with that can run over 100 apps simultaneously. On Ledger devices, an “app” refers to the app required to be installed to access a cryptocurrency on the device e.g. in order to access your BTC on the device you need to install the app on the Ledger first. Meaning that, unlike the Nano S which can only run 3 apps simultaneously, users are not required to delete apps in order to access other cryptocurrencies which do not have the apps already installed.
But what is truly unique about the Nano S Plus is that it is the first Ledger device to offer NFT support. Users of the Nano S Plus can securely hold, send, and receive NFTs via the Ledger Live app. Ledger has made this process user-friendly, as owners can authenticate transactions right from the wallet’s interface.
Users of the Nano S Plus can also access several DeFi applications through the Ledger Live user interface. Anyone can securely buy, exchange, lend or stake crypto assets.
The NFT support and DeFi app access give the Nano S Plus an even bigger boost in features compared to the Nano S and for that reason, we rank this category even higher than the Nano X.
4.8/5 cryptoasset support
Hardware design
Similar to the Nano S, the Nano S Plus also has two hardware buttons located on the top of the device.
The Nano S Plus has a much larger screen than its predecessor, which makes usage very easy. Same as the Nano X, the 128 x 64-pixel screen makes operating the device simple and helps users navigate the product’s features. The main benefit of the larger screen is that users can see the entire wallet address clearly displayed as one line on the screen. The screen also blends well into the rest of the device, adding to the Nano S Plus’ aesthetic appeal. And whilst the screen size on the Nano S Plus is the same as the Nano X, the Nano S Plus is a much smaller device overall.
The Ledger Nano S Plus’ measurements are smaller than the Nano X at 62.39 x 17.40 x 8.24 mm, and weighs in at only 21g. The wallet is about the size and weight of an average USB flash drive and is easy to carry around.
4.5/5 for hardware design
4.5/5 for ease of use
What’s in the Ledger Nano S Plus Box?
The Nano S Plus wallet comes with the following inside the box:
The Ledger Nano S Plus hardware
A Type-C USB cable to connect the Ledger to a computer
An orange box with three notepads for the Secret Recovery Phrase
A purple box with the manual instructions
A key-holder chain with a Ledger logo
Final Verdict
The Ledger Nano S Plus is a great option for enthusiasts looking for a secure, reliable, and easy-to-use hardware wallet. It offers the same features as the original Ledger Nano S and adds a lot more. Furthermore, users looking to upgrade from the older Ledger Nano S can quickly move their assets to the newer S Plus.
The Ledger Nano S Plus is one of the best hardware wallet options on the market for crypto and NFT enthusiasts who currently own or plan to purchase NFTs or get involved with any DeFi project.
Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. In this guide will we provide the best strategy to earn the most from any potential SUI airdrop.
Sui is a decentralized, proof-of-stake blockchain with horizontally scalable throughput and storage. Sui aims to be a step-function advancement in blockchain technology that will allow creators and developers to build experiences for Web3 users. The project is created by former senior leaders of Facebook’s (Meta) advanced blockchain research and development organization. The team first came together to form Mysten Labs– the company behind Sui. The team is also building Move – an open-source smart contract programming language.
Currently, Sui has deployed their “Permanent Testnet” – which means it’s the best time to generate blockchain evidence to get the airdrops. What we have learned from similar projects is that the more interactions that you do with the blockchain, the more airdrops you earn. We expect that $SUI will give “tiered” airdrops, giving out more free tokens to those who interact more with the blockchain.
Key Summary
Sui is a scalable and permissionless Layer 1 blockchain created by former Meta developers.
SUI is the native token of Sui with four main purposes: gas fees, staking, governance, and economy.
There is no official SUI token airdrop yet, but the team hinted that they will reward early community members and supporters.
To potentially qualify for a future SUI token airdrop, users can install and use the Sui wallet, stake and earn SUI tokens, register names on SuiNS, mint and breed Capys on Capy.art, play games and mint NFTs on Clutchy.io, and explore other projects built on Sui.
The SUI Token Community Access Program eligibility criteria has been announced! Here is how to check your eligibility to participate in the Sui Recognition Sale:
Verify your Discord here before 17th April 2023 at 9:30pm PDT.
If you are eligible, you will be required to fill in a form on their page.
Register for the token sale on Bybit, Kucoin or OKX. Sign up for an account here: ByBit, KuCoin.
UPDATE: Mysten Labs (the company behind Sui) will be doing an NFT airdrop! Those who are Sui Discord members before 3rd May 2023 can register here for a free SuiFrens Bullshark Generation 0 Limited Edition NFT before 17th May 2023 at 11am PDT.
What is the Sui $SUI token?
The SUI token is the native token of the Sui platform. SUI has a max supply of 10 billion tokens.
SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy.
The team has confirmed that Sui community members can purchase the SUI token during the early Sui Mainnet stage. Sui will also have a Community Access Program. This program will reward Sui supporters who have helped test Sui Apps. Rewards will also be distributed to those who help promote Sui.
There is currently no $SUI token airdrop. However, the Sui team have emphasized in its blog post that they will prioritize the distribution of SUI tokens to early community members. The team also said that those who are already spreading knowledge about Sui, onboarding developers, and testing and refining its’ applications will be part of Sui’s token allocation.
In August 2022, Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators. 2,000 SUI (subject to 1-year vesting) was distributed for participating in every testnet “wave”.
In the latest blog post, Sui announced its SUI Token Community Access Program. Under the Community Access Program, only limited categories of early supporters will be able to obtain SUI tokens either via retrospective rewards or a recognition sale. However, there are geographical restrictions, for example US residents are not eligible to receive SUI even if they qualify under the Community Access Program.
The blog post, however, has stated clearly that they will not be any Sui airdrops, leading to the tag #suiScam trending on Twitter. This is because many people believed that Sui would do an airdrop and have spent months interacting with the testnet.
How can I participate in a potential $SUI token airdrop?
The Sui team has not officially announced how and when they will do a $SUI token airdrop. However, they had already strongly hinted that they will prioritize rewarding early community members and supporters. Here’s some ways to get a potential $SUI token airdrop:
Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT
Install and use the Sui Wallet
Install and use the Sui Wallet browser extension. On their documentation page here, click “Sui Wallet browser extension”. A new chrome web store window will appear, then click “Add to Chrome”. Afterward, click “Create a New Wallet”. You will be asked to create a password and be asked to save your recovery phrase. Once you have saved your recovery phrase, tick “I saved my recovery phrase” and click “Open Sui Wallet”.
Sui wallet
Request Sui devnet tokens
On your Sui wallet (see above on how to install a Sui wallet), click “Request Devnet Sui Tokens”. You will then receive 0.05 $SUI. To get more $SUI devnet tokens, click on the 3 lines on the top right hand corner of the wallet, then click “Request Devnet SUI Tokens”.
You can also request devnet tokens via their devnet-faucet channel in Discord. Check here for full instructions.
Stake and Earn Sui
On your Sui wallet (see above on how to install a Sui wallet), click “Stake & Earn SUI”. Then select the validator you want to stake your Sui and the amount to be staked and click “Stake Now”. You can unstake and withdraw your SUI on the same page. You can also track how much $SUI you have staked and the APY on the “Coins” tab.
Mint Sui Capys NFT
Go to https://capy.art/ and connect your Sui wallet. Then, go to “My Collection” and “Capys”. Select “Get a free Capy” and on the Sui Wallet, click “Approve”. You can mint a maximum of 2 Capys.
Afterward, you can breed or sell your Capys.
Register your domain on Sui Name Service (SuiNS)
On your Sui wallet, go to the “Apps” tab, then click “Sui Name Service (SuiNS). You will then be taken to https://suins.io/ where you can search for names. Choose your desired name (ending in .sui or .move) and click “Register Name”. Registering a name costs 0.001 SUI.
You will then be asked to connect your Sui wallet, and afterward, click “Approve” (2 approvals are required) to approve the transaction.
Participate in Sui testnet waves
Sui has recently finished their Sui Testnet Wave 2. However, you can follow them on Twitter to see if and when they will do another testnet wave.
Play games and get test mints on Clutchy
Clutchy is a Gaming and NFT marketplace built on Sui, so using their platform may give you a better chance of getting a potential SUI airdrop. To do this, go to Clutchy.io. To play games on Clutchy, go to the “Games” tab, where you will find many games to choose from including board games, shooters, and puzzles. Meanwhile, their Launchpad will have launch test mint NFTs this week. All you need to do is to mint them using SUI tokens.
There are numerous projects built on Sui, many of which have not released their token yet and might also do a potential airdrop! Similar to zkSync, the network itself and its ecosystem projects are all doing airdrops. Learn more with our zkSync ($ZKS) Token Airdrop Guide!
So, there could be a chance to earn DOUBLE AIRDROP REWARDS!
One such project being built on the Sui ecosystem is Synthr. Synthr is a synthetic asset protocol built on Sui, and they have confirmed they will do a $SYNTH token airdrop! For more details check out our Synthr ($SYNTH) token airdrop guide.
Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT
Mysten Labs, the company behind Sui, have announced its ACES (Active Contributors & Early Supporters) Program. Those who joined the Sui Discord before 3rd May 2023 can register with their Discord account and Sui wallet before 17th May 2023 at 11am PDT: https://aces.mystenlabs.com.
Those who are eligible will be airdropped a SuiFrens Bullshark Generation 0 Limited Edition NFT at a later date. It is unknown what the utility of the NFT will be.
📢 Announcing our ACES (Active Contributors & Early Supporters) Program
If you were a Sui Discord member BEFORE Sui Mainnet launch on May 3, then register here before May 17th 11am PDT to become one of the Mysten ACES: https://t.co/uDeJnAHXlc
Am I eligible to receive SUI tokens in the Community Access Program?
Sui has stated there will be no SUI airdrops. Instead, there will be a SUI Token Community Access Program which will offer retrospective rewards and a recognition sale for the following categories of Sui supporters:
Capy Holidays competition winners: They will receive tokens directly based on the competition terms.
Champions: Testers and moderators who attended, organized and ran events. They will get SUI tokens after the mainnet launch.
Supporters: These are Sui Discord community members that joined before 1st February 2023 and offered suggestions, joined discussions, interacting with the ecosystem and helped suggest innovations. Also included are the winners of the Frenemies Competition. These people will be able to purchase SUI during a Recognition Sale.
Those who are eligible to receive SUI tokens will be contacted directly by the team. Meanwhile, here is how to check your eligibility to participate in the Sui Recognition Sale:
Verify your Discord here. You must have joined their Discord before 1st February 2023 to be eligible. Note that this verification portal will close on 17th April 2023 at 9:30pm PDT.
If you are eligible, you will be required to fill in a form on their page.
Register for the token sale on Bybit, Kucoin or OKX. You can sign up for an account here: ByBit, KuCoin, OKX.
We recommend signing up with every participating exchange, especially ByBit for the Sui Recognition Sale. This is because Bybit have been allocated the largest number of tokens allocated to them for sale compared to other exchanges and likely will have the highest trading volume. Meaning it would be easier to get an allocation and faster to trade your SUI tokens before everyone else.
You must complete the KYC requirements for the exchange you plan to buy your SUI tokens from, so it is suggested to sign up ASAP. Note that people from the United States are not eligible to participate in Sui’s Community Access Program. Also, people from the following countries are not eligible to participate in the Sui Recognition Sale, even though they may be eligible under the Community Access Program: United States, mainland China, Singapore, Quebec (Canada), Ontario (Canada), North Korea, Cuba, Iran, Ukraine, Sevastopol, Sudan, Syria, Uzbekistan, or any other jurisdictions excluded by the exchange.
Those eligible to participate in the Community Access Program can buy up to 1,500 SUI at US$0.03 per SUI. There will not be any lockup period for the SUI tokens which will be distributed at mainnet launch on 3rd May 2023.
SUI Recognition Sale Details
As mentioned previously, some Sui Supporters will be eligible to participate in Sui’s Recognition Sale. These are Sui Discord community members that joined before 1st February 2023 and winners of the Frenemies Competition. The Sui Recognition Sale allows these supporters to purchase Sui at US$0.03/Sui instead of the public price of US$0.1. Only, Bybit, Kucoin or OKX will be hosting the Sui Recognition Sale, so eligible persons must sign up for an account and complete any required KYC on those exchanges.
According to Sui, over 340k Discord accounts were eligible for the Recognition Sale. Of this, 180k accounts made submissions for the Recognition Sale (this excludes any ineligible accounts). Because there is a maximum allotment of tokens for the Recognition Sale, Sui has done a random selection of the submissions. And it is estimated that around 96k supporters will be able to actually participate in the Recognition Sale (assuming each user purchases the maximum allotment). Sui has emailed these allowlisted participants with instructions as well as the 3 exchanges.
SUI Tokens will be distributed to successful Recognition Sale participants at the following times:
Kucoin: From 01:00 on 2nd May to 09:00 on 3rd May UTC.
Bybit: 06:00 on 3rd May UTC.
OKX: 06:00 on 3rd May UTC.
All tokens will be unlocked at Sui mainnet launch on 3rd May.
Here are the timelines for the Sui Recognition Sale for all 3 exchanges.
Kucoin:
Bybit:
OKX:
Sui Airdrop Review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: For now there is no airdrop, and only those who are eligible under their Community Access Program will either receive SUI or be eligible to participate in their Recognition Sale. The Recognition Sale will allow eligible users to buy SUI at a discounted price.
Airdropped Token Allocation: 594 million $SUI tokens will be allocated towards their Community Access Program. But they will not be distributed in the form of airdrops.
Airdrop Difficulty: Sui has not announced any airdrop, but it has said it will reward early users. Their wallet is in devnet stage and has the basic features, in addition, you can mint their Capy NFTs and register a Sui domain name. All these actions only cost SUI tokens, which can be obtained for free. This makes the difficulty quite simple and most importantly, does not involve any cost.
Token Utility: The SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy. This gives $SUI holders a lot of flexibility in terms of how they can use the token.
Token Lockup: It is speculated that any airdropped $SUI tokens will be locked until the token launch. However, there is no announcement on when this would be.
Frequently Asked Questions (FAQs)
What is the Sui Community Access Program?
Sui Community Access Program is a program that rewards Sui supporters. Under the Community Access Program, only limited categories of early supporters will be able to obtain SUI tokens either via retrospective rewards or a recognition sale. However, there are geographical restrictions, for example US residents are not eligible to receive SUI even if they qualify under the Community Access Program.
Which countries are excluded from the Community Access Program?
People from the United States are not eligible to participate in Sui’s Community Access Program. Also, people from the following countries are not eligible to participate in the Sui Recognition Sale, even though they may be eligible under the Community Access Program: United States, mainland China, Singapore, Quebec (Canada), Ontario (Canada), North Korea, Cuba, Iran, Ukraine, Sevastopol, Sudan, Syria, Uzbekistan or any other jurisdictions excluded by OKX, Bybit or Kucoin.
Who is eligible to join the SUI Token Community Access Program?
The following categories of persons are eligible to join the SUI Token Community Access Program: Capy Holidays competition winners, Champions (i.e. Testers and moderators) and Supporters (Sui Discord community members that joined before 1st February 2023).
How do I check my eligibility for the SUI Community Access Program?
When is the deadline for signing up for the Sui Community Access Program?
The verification portal for the Sui Community Access Program will close on 17th April 2023 at 9:30pm PDT.
What is the token price and lockup period for the Community Access Program?
Those who are eligible to join the Community Access Program can purchase up to 1,500 SUI at $US0.03 per token. The tokens are not subject to any lockup period and will be distributed at mainnet launch.
How can I join the SUI Token Recognition Sale?
First check if you are eligible here. Note that this verification portal will close on 17th April 2023 at 9:30pm PDT. If you are eligible, you will be required to fill in a form on their page. Then, register for the token sale on Bybit, Kucoin or OKX. You can sign up for an account here: ByBit, KuCoin, OKX.
When is the Sui mainnet launch?
Sui has confirmed it will launch its mainnet on 3rd May 2023.
Arbswap is a decentralized exchange (DEX) suite native to Arbitrum. Their aim is to become the best-performing DEX on Arbitrum Nova and the no.1 go-to DEX on Arbitrum One. The team has also confirmed on Twitter they will be doing an airdrop of their soon-to-be-released token. In this article, we will explain what Arbswap is and a step-by-step guide on what you can do to receive its token airdrop.
Arbswap is the ultimate game-fi-optimized DEX for Arbitrum Nova and One. The project hopes to offer a streamlined and user-friendly trading experience for all in-game assets, including both fungible and non-fungible assets (e.g. NFTs). Our liquidity farming feature allows projects to host LP incentives on both flexible and locked farming, granting more control to game projects on Nova. With Arbswap, users can enjoy a simplified trading experience for all their in-game needs, eliminating the need to navigate between Uniswap and NFT marketplaces.
Does Arbswap have a Token?
Arbswap does not have a token yet, and they have not released their tokenomics. However, they have announced they will do a token airdrop and gave some hints on how you can be eligible for an airdrop.
Arbswap is doing a multi-stage airdrop event to earn ArbEgg NFTs and points, which will translate to an airdrop when its token is launched. Stage 2 of the airdrop is now LIVEfrom 13 April 2023, 2:00PM UTC to 28 April 2023, 2:00AM UTC! Here’s how to participate in Stage 2 of the Arbswap airdrop:
Stage 2 will focus primarily on on-chain activities, and there are 4 events for ArbEgg NFT holders to participate in and earn points. Additionally, there will be a leaderboard that tracks all user progress, and the top 100 participants from each event will be rewarded with another exclusive ArbEgg NFT.
Now, you can start stacking ArbEgg Points, which gives you a higher chance of getting more airdrops once the event ends.
Complete social tasks to get ArbEgg Points
Arbswap has updated stage 2 with extra social events and an extended deadline! Here are the extra events to be completed for bonus ArbEgg Points and prizes!:
21 April to 24 April Meme Contest: Follow, Like & RT the game post, share your funniest memes. 100 ArbEgg Points will be awarded for the 10 funniest memes!
24 April to 26 April Meet your ArbEggs: Follow, Like & RT the game post, complete the maze and leave a screenshot in the comments. 50 ArbEgg Points will be given to 20 winners!
26 April to 27 April Word Puzzle: Follow, Like & RT the game post. Then, complete the Word Puzzle and leave a screenshot in the comment. 20 ArbEgg Point will be given to 50 random winners.
All ArbEgg Points earned will be converted to $ARBS tokens. Also, all ArbEgg NFT holders and those with the “Real Arbsian” role on Discord will be eligible for the airdrop and get an extra 20% ArbEgg points.
The top participants in each event of Stage 2 will also be awarded the ArbEgg: Stage 2 NFT. They will automatically be entitled to an even larger $ARBS token airdrop.
How to Get Maximum ArbEgg Points?
ArbEgg Points are exclusive to Arbswap’s Discord, where 1 Point equals 1 ArbEgg Point. At the end of each airdrop stage, the Arbswap team will publish a point sheet on Twitter and Discord showing the number of points earned. To check your ArbEgg Points daily, you can also go to the Discord #victory-wall channel.
Invite friends to Discord with your referral link.
Submit your tweet links to the #tweet-dispatch channel on Discord.
How to claim your ArbEgg Points?
For off-chain activities (i.e. Social activities), you will need to comment that you have completed the task on Discord with your wallet address. If you have not done so, you MUST do so by 4am UTC on 5th May 2023 to claim your ArbEgg Points, here’s how:
Note that late submissions will be considered disqualified!
How to Claim $ARBS Token Airdrop?
Those who receive the $ARBS token airdrop will have 3 options- burn, vest or unlock:
Burn — Claim 10% of the airdrop and burn the remaining tokens.
Vest — Claim 5% of the airdrop and vest 15% over 24 months. The rest will be burnt.
Early Unlock — 0.01 $ETH is required to claim 50% of the airdrop instantly, with 50% vesting over the period of 12 months.
Arbswap Token Airdrop Review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Arbswap is currently doing stage 2 of its airdrop, so act fast to earn more points!
Airdropped Token Allocation: It is unknown how many Arbswap tokens will be allocated towards airdrops.
Airdrop Difficulty: Getting an Arbswap token airdrop will require you to transact on Arbswap by swapping tokens or adding liquidity to their pools. These are simple actions for most cryptocurrency traders but will require you to use your own funds.
Token Utility: The Arbswap token utility is unknown.
Token Lockup: The Arbswap token lockup is unknown.
Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. They are a decentralized, proof-of-stake blockchain with horizontally scaleable throughput and storage.
Ex-members of the Meta team came together to form Mysten Labs– the company behind Sui. They are also building Move, which is an open-source smart contract programming language.
However, Sui is not a derivative or an add-on of the Diem network. Instead, it is a step-function advancement in blockchain technology that is designed to allow creators and developers to build experiences for web3 users.
Who is the team behind Sui?
Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis and Kostas Chalkias co-founded Sui. They are co-founders are former senior leaders of Facebook’s (Meta) advanced blockchain research and development organization. They were responsible for delivering some of the most advanced open source components such as the programming language, execution engine and cryptography of the Diem network.
What are Sui’s main features?
Sui has the following main features:
Sui is able to scale horizontally without any upper bounds. This enables them to meet application demand whilst maintaining extremely low operating costs per transaction.
The design of Sui is groundbreaking in that it eliminates a critical bottleneck in existing blockchains. In traditional blockchains, transactions (though independent of each other) are pushed into sequential blocks which creates wasteful computational power. Sui’s innovation is that they will organise data into independent objects, meaning that transactions can be executed in parallel.
The network is also able to scale throughput horizontally because it enables parallel agreement on causally independent transactions. They achieve this through Byzantine consistent broadcast, which eliminates the overhead caused by global consensus yet without sacrificing safety and liveness guarantees.
Sui’s unique features mean there will be unmatched scalability and instant settlement of transactions. The platform can scale horizontally to meet the increasing demands of applications. Sui’s authorities can add workers to increase processing power in order to meet growing network capacity. The result of this would be lower gas fees even when network traffic is high, and thus better user experiences for web3 apps.
How do users participate in Sui?
There will be 3 types of participants: Users, token holders and Validators.
Users will be responsible for submitting transactions to the platform in order to create, change and transfer digital assets or interact with more complex applications.
Token holders have the option of delegating their tokens to validators and participating in their proof-of-work mechanism. SUI token holders also have the right to participate in Sui’s governance and decide on the future direction of the project.
Validators manage the processing and execution of transactions on the Sui platform.
Who are Sui blockchain’s investors?
Sui has so far raised US$36 million in Series A funding. Sui’s Series A funding round was led by Andreessen Horowitz’s a16z. Other participants in Sui’s funding include Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Samsung Next, Slow Ventures, Standard Crypto, NFX, and Scribble Ventures, among others.
Mysten Labs’ Series B funding round is well underway, with Sui being valued at over US$2 billion. Mysten has recently closed a US$300 million fundraise led by FTX Ventures. Other Series B investors include Coinbase Ventures, Jump Crypto, Circle Ventures, a16z (again), Binance Labs, and O’Leary Ventures, among others.
What is the $SUI crypto token?
The SUI token is the native asset of the Sui platform with a total supply capped at 10,000,000 (i.e. 10 billion). A portion of SUI’s total supply will be released at the mainnet launch of the platform. The remaining tokens will be vested over the coming years or distributed as future stake reward subsidies.
The SUI token will have 4 main purposes: Staking, gas fees, as an underlying asset of the economy, and lastly for governance. Specifically:
SUI can be staked in order to participate in the platform’s proof-of-work mechanism.
SUI is the asset used for paying gas fees required to execute and store transactions or do various operations on the platform.
SUI is used as an asset on the platform with all the standard features of traditional money- used as a unit of account, a medium of exchange, and a store of value. It can even have more complex functions enabled by smart contracts across the Sui platform.
SUI token holders have the right to participate in on-chain governancevoting on various issues affecting the Sui platform such as protocol upgrades.
What is the $SUI token allocation?
Over 50% of $SUI tokens will be held by the Community Reserve, which will in turn be managed by the Sui Foundation. The Community Reserve intends to use the SUI tokens through various community programs. For example:
Delegation Program: The SUI Delegation Program will allow community members seeking to run a validator to apply for delegated $SUI tokens. This helps bootstrap community-run validators and promotes an even stake distribution across the network validators.
Grant Programs: $SUI tokens will be distributed directly to developers, community ambassadors and others who are building or creating educational materials for Sui.
Research and Development: Tokens will be allocated for the advancement of the Sui protocol.
Validator Subsidies: Tokens will be distributed to subsidize staking rewards.
As for the remainder of the $SUI tokens, 20% will go to early contributors, 14% to investors, 10% to the Mysten Labs Treasury, and 6% to the Community Access Program and App testers. Click here for more details on SUI tokenomics.
Those who are eligible under the SUI Token Community Access Program will either receive retrospective rewards or be able to participate in the Recognition Sale. There will also be a General Sale. However, these are subject to geographical restrictions.
Will there be a $SUI token airdrop?
Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators. Validators were rewarded with 2,000 SUI for every testnet “wave” they participated in. The airdropped tokens were subject to a 1-year vesting period. Although registration has been closed, there is a possibility of a third testnet “wave”. However, in their latest blog post, it seems that an airdrop is unlikely. Instead, Sui has announced a SUI Token Community Access Program which will distribute retrospective rewards or allow access to an earlier Recognition Sale to those who are eligible.
There will be 2 rounds of SUI token sale, the Recognition Sale and the General Sale. Note there are exclusions for participating in the token sales. (Klonopin)
Sui has confirmed it will officially launch its mainnet on 3rd May 2023.
For more details on the SUI token sales for each exchange, see here: Bybit, KuCoin, OKX.
Sui Recognition Sale
The Recognition Sale is only available to those whitelisted by the Sui Foundation. Those who are eligible can purchase up to 1,500 SUI from a pool for US$0.03. The tokens will be fully unlocked during the mainnet launch on 3rd May 2023.
According to Sui, over 340k Discord accounts were eligible for the Recognition Sale, and 180k accounts made submissions. Sui randomly selected submissions, and it is estimated that around 96k supporters will be able to participate in the Recognition Sale. Sui has emailed these allowlisted participants with instructions. S
The following exchanges will participate in the SUI Recognition Sale: ByBit, KuCoinand OKX. SUI Tokens will be distributed to successful Recognition Sale participants at the following times:
Kucoin: From 01:00 on 2nd May to 09:00 on 3rd May UTC
Bybit: 06:00 on 3rd May UTC
OKX: 06:00 on 3rd May UTC.
We suggest signing up for Bybit because they have the largest number of tokens allocated for sale compared to KuCoin and OKX (94M SUI vs 25M SUI). This means you are more likely to get an allocation compared to the other 2 exchanges.
Sign up for Bybit here:
Sui General Sale
General Sale participants will be able to purchase up to 10,000 SUI at US$0.10. Only KuCoin and OKX will be hosting the General Sale, and each exchange has been allocated 225m SUI for sale in this round. Here are the details for the General Sale on KuCoin and OKX:
KuCoin: Subscription period ends on 22nd April 2023 at 16:00:00 UTC, ticket draw will be announced on 23rd April 2023 at 13:00 UTC. Tokens will be distributed on 2nd May 2023 at 01:00:00 UTC.
OKX: General Sale subscription period will be from 23 April 2023 02:00 UTC to 24 April 2023 02:00 UTC. Tokens will be distributed once mainnet launches.
SUI tokens bought during the General Sale are subject to a vesting period. 1/13 will be unlocked at the Token Generation Event (TGE). After 30 days, an additional 1/13 will be released monthly. So that all purchased tokens will be released within twelve months from the TGE date. All purchased tokens will automatically be sent to your exchange wallet.
What is the Sui economic model?
There are five major components of the Sui economic model:
Gas fees: all network operations on the platform require gas fees. Gas fees are rewarded to participants in the proof-of-stake mechanism. It can also be used to prevent spam and denial-of-service attacks.
Storage fund: This fund is used to redistribute past transaction fees to future validators. That is, users will pay fees upfront for both computation and storage. The storage fees which are collected are deposited into a fund used to adjust the future share of staking rewards. This is so that when there is a high demand for on-chain storage, validators will receive additional rewards to compensate for their costs. When demand is lower, rewards will also be adjusted accordingly. Users however will be able to save funds through a “deletion option” which allows them to delete previously-stored on-chain data. By exercising this option, users can receive a storage fund rebate.
Proof-of-stake mechanism: Used to select, incentivize and reward platform operators i.e. the validators and SUI delegators.
On-chain voting: for voting and deciding on governance and protocol upgrades.
What is the Sui Explorer (Suiscan)?
The Sui Explorer (known as Suiscan) was launched in August 2022 and is a trusted transparency tool for those who are using and building on Sui. The main purposes of the Sui Explorer are as follows:
Maintain the most updated and accurate on-chain data, activity, and metrics;
act as a fast, reliable, and transparent tool for debugging issues and auditing;
enable the lookup, verification, and tracking of assets and contracts; and
provide useful smart contract development and features that will be unique to Sui Move.
Major features of Sui Explorer are as follows:
Sui Explorer builds on existing blockchain explorers by providing go-to-definition support for all smart contracts. Clicking on any struct will direct users to the package and defining module which improves code navigation, readability, and learnability;
object details are rendered recursively, thereby providing an optimized view of objects on the Sui Explorer;
address details are divided into (1) Coins; and (2) NFTs for convenient navigation. Users will be able to have a clear view of the assets and transactions with this address. Coins that are of the same type are also automatically aggregated. However, an expanded paginated view of the information is also available;
transactions will show more details such as gas fees paid, objects updated, token amount and the relevant addressing. For some transactions, additional information such as bytecode of published modules and emitted events can also be included;
Sui Explorer will also have a validator table and node map showing the active full nodes and their locations. The purpose of this is to provide information on Sui’s network operations as the network continues to mature.
Suiscan is currently running on Devnet and eventually also on Testnet when it is live.
What is the Sui Wallet?
The Sui Wallet allows users to create addresses and view and manage their assets on the Sui network. The Sui Wallet can also interact with dApps. Similar to MetaMask, Sui Wallet will be a Google Chrome extension so users can simply access it on their Chrome browsers.
What is the development progress of Sui?
Sui has confirmed it will officially launch its mainnet on 3rd May 2023.
There is no release date for the Sui platform yet.
When is the SUI crypto token sale?
There is currently no information on when the SUI token will be sold.
When is the SUI ICO?
No announcement has been made on the timing of the SUI ICO yet.
Is Sui the same or related to Aptos?
No, Sui and Aptos and completely different and unrelated projects. The only connection between the two projects is that both teams have previously worked in blockchain development at Facebook (Meta).
When is the Sui mainnet launch?
Sui has confirmed it will officially launch its mainnet on 3rd May 2023.
Will there be a Sui token airdrop?
There is no official announcement of a Sui token airdrop. Instead, it seems that there will be a Community Access Program which will not involve airdrops.
Binance is a very popular cryptocurrency exchange. It has the largest trading volume and many different cryptocurrencies to trade. Binance also has powerful tools for trading, like leveraged trading and options trading. They also have a lending platform. Binance is always adding new features and this surprises many experts. The CEO of Binance is Zhao “CZ” Changpeng and he is very quick to respond to events. Binance has many different versions, including one for the US called Binance US. This review talks about all the different features of Binance and any problems they have had.
World’smost popular exchange with the highest trade volume.
Offers the largest rangeof products and services with some not even found elsewhere.
Maintains insurance against theft and hacks.
Key Features and Functions
Binance (Binance.com
Binance.com is the main exchange and it is very popular. It has all the services that Binance offers. Some of the key features are:
It supports over 1,000 different cryptocurrencies.
It has the highest trading volume in the world because it is so popular.
There is a platform called Binance Launchpad where new cryptocurrencies can be listed.
There is a Stop-Limit Function. This means that an order will be carried out when the stop price is reached. Then the stop-limit order becomes a limit order to buy or sell at the limit price or better.
Binance also has a lending service. Users can keep their cryptocurrencies on the exchange for a certain amount of time and earn interest.
Binance US (Binance.us)
Binance US (Binance.us) was Binance’s answer to US regulations barring citizens from trading on Binance. Key features include:
US regulation compliant
Has fiat to cryptocurrency trading pairs. Users can use USD to buy cryptocurrencies directly on the Exchange.
Bank account linking is available.
History of Binance
Binance was founded by Changpeng (CZ) Zhao in 2017. The name comes from a combination of the words “Binary” and “Finance”. Binance is originally from China. However, due to the harsh crypto regulation procedures in the country, the Exchange moved to more conducive jurisdictions outside China.
Currently, Binance is based in multiple jurisdictions. Their main site offers support in English, Chinese, Korean, Japanese, Russian, Spanish, and French.
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Supported Countries
The international site Binance (Binance.com) is supported in most countries except the USA.
US citizens can ONLY trade on Binance US (Binance.us), except for those from the following states: Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont. Note however that Binance.us has fewer supported cryptocurrencies and features compared to the international site. This is so that Binance.us is compliant with US Laws.
US: New York, Connecticut, Hawaii, Georgia, New Mexico and Washington;
Several Chinese banks; and
Some countries entirely e.g. Afghanistan, Iraq and Libya.
Users can only pay USD or EUR to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH/BCHABC) or Ripple (XRP) using debit and credit cards on Binance.
Binance is a crypto-to-crypto exchange only. So users must buy first the above cryptocurrencies using fiat, before they can trade with other cryptocurrencies on the Exchange.
Users can use their debit cards to directly transfer USD from their bank accounts into their Exchange account via ACH or wire transfer.
Deposit and Withdrawal Fees
On Binance.com fees are charged based on the cryptocurrency to be transferred. For example, Bitcoin (BTC) withdrawals cost 0.0005 BTC per transaction. There are no deposit fees.
For fiat transfers, on Binance US, USD wire withdrawals cost USD15/USD35 for domestic or international withdrawals respectively. Deposits generally and ACH withdrawals are free.
Trading fees for Binance.com and Binance US are generally 0.1% for makers and takers with the following exceptions:
Binance.com and Binance.us: Users with larger trade volume or hold a specified amount of BNB are eligible to become VIPs. Higher VIP tiers give you lower trading fees. There is a 25% trading fee discount if fees are paid using BNB.
Binance has competitive trading fees compared to some other cryptocurrency exchanges. For example:
Coinbase: 0.50% of the transaction plus a further Coinbase Fee depending on the transaction amount. Side note: did you know you can avoid their expensive withdrawal fees? Find out more at CoinBase Fees- How to Avoid Them?
BitMax: 0.085% (maker and taker) for larger market cap coins, 0.10% for other coins
Binance KYC
You don’t have to do the Binance KYC process to use the exchange. But if you don’t, you can only withdraw money, cancel orders, close positions and redeem. Binance has two levels of KYC: “Verified” and “Verified Plus”. To be “Verified”, you need to give your personal information and ID and do facial recognition. Then you can deposit and withdraw up to $50k a day. You can also deposit unlimited crypto, withdraw up to 100 BTC in crypto and do unlimited P2P transactions.
To be “Verified Plus”, you also need to show proof of your address. You can do everything that “Verified” users can do. Plus, you can deposit and withdraw up to $200k a day.
Controversies
Like any exchange, Binance is no stranger to controversies, making people question if Binance is safe. Let’s take a look at some recent controversies.
Binance hack: 7,000 Bitcoins stolen
In May 2019, Binance told the public that hackers took 7,000 Bitcoins. At that time, they were worth about $40 million. The hackers used different ways like phishing and viruses to get users’ login information.
Binance used its SAFU fund to pay back the users who lost money. The SAFU fund is an emergency insurance fund.
Binance KYC Data Breach
In August 2019, a hacker said they had a lot of Binance’s KYC data. They made Telegram groups to show the data. They wanted 300 Bitcoins from Binance or they would release more data. Binance said the data was from February 2018 when they used another company to do KYC. But some people say it was mostly Binance’s fault.
Binance offered a reward to find the hacker. But the hacker hasn’t been found yet. Binance gave lifetime VIP membership and better trading fees and services to users who were affected.
Binance accused of being a conduit for money launderers?
Reuters found that from 2017 to 2022, people on a Russian darknet drug market called “Hydra” used Binance to send and get cryptocurrency payments worth $780 million. The website is only on the Darkweb and takes cryptocurrency for payment.
Binance said the numbers were wrong and too high because they included indirect cryptocurrency flows. Binance also said they’re trying to get better at finding illegal activity on their exchange. They’re working with law enforcement to stop criminal networks that use cryptocurrencies.
Since August 2021, Binance made their KYC rules stricter. Both new and old users have to show ID to use most features on the exchange. Crystal Blockchain found out that since Binance made their KYC rules stricter, the monthly total of funds linked to Hydra Market that went through Binance went down a lot. It went from over $30 million per month to less than $1 million per month in the first quarter of 2022.
Is Binance safe in 2023?
Binance is the world’s biggest exchange, so hackers want to attack it. They did hack it twice in 2019. But Binance has an insurance fund and provided proof-of-reserves to pay back victims of the hacks. Binance showed they have enough money to cover users’ assets 1:1 plus extra reserves. You can learn more about Binance’s reserves audit by checking out: Binance Audited by Mazars, Confirms Bitcoin Reserves are Fully Collateralized.
Binance has been able to handle bad press and rumors. In December 2022, there were rumors that Binance didn’t have enough reserves for clients’ deposits. Many traders took their money out of exchanges. But Binance handled it well and paid everyone back.
We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us.
I actually think it is a good idea to “stress test withdrawals” on each CEX on a rotating basis. 💪
Is Binance safe in 2023? It looks like it is. They paid back victims of hacks, showed they have enough money, and handled big withdrawals. But no exchange is 100% safe. That’s why it’s important to take your cryptocurrencies off exchanges and put them in offline hardware wallets. That way, you keep control of your cryptocurrencies.
When reviewing a cryptocurrency exchange, it is important to consider several key factors to ensure that the exchange meets the needs and expectations of its users. In our reviews, we have evaluated a crypto exchange based on the services it offers, the cryptocurrencies it supports, its trading fees, and its security measures. These criteria were chosen because they are essential for providing a comprehensive and reliable trading experience for users. So by examining these aspects of an exchange, we can provide an informed and objective assessment of its overall performance and value to users.
Services offered: Binance offers a wide range of products and services, including powerful trading tools such as leveraged trading, options trading and a lending platform. Binance is always on top of adding new features and is able to respond quickly to events.
Cryptocurrency support: Binance supports trading over 1,300 cryptocurrencies on its main site (Binance.com), including its own cryptocurrency, Binance Coin (BNB). However, Binance US (Binance.us) only supports around 50 cryptocurrencies. Although it is fewer than some other exchanges, Binance does have a strict vetting process before deciding whether or not to list a cryptocurrency.
Trading fees: Trading fees for Binance.com and Binance US are generally 0.1% for makers and takers. However, users with larger trade volume or those who hold a specified amount of BNB are eligible to become VIPs and receive lower trading fees. Additionally, there is a 25% trading fee discount if fees are paid using BNB. Overall, Binance has competitive trading fees.
Security: Binance has had some security breaches in the past, including a hack in which 7,000 Bitcoins were stolen and a KYC data breach. However, Binance maintains an asset fund as insurance and used it to fully compensate victims of the hack. Binance has also provided proof of reserves and has taken steps to improve its ability to detect illegal activity on its exchange. Overall, Binance is safe but it is important to avoid storing more cryptocurrencies than needed on exchanges.
Binance Exchange Review
Frequently Asked Questions (FAQs)
Is Binance Jersey closed?
Binance Jersey closed on 31st December 2020 at 23:59 UTC.
What can I do if I still have funds on Binance Jersey?
Users with remaining funds on Binance Jersey can contact Binance’s Customer Service Team to retrieve their funds.
What is Binance DEX?
Binance DEX (Binance.org) is also known as Binance Chain. Key features include: It is a decentralized exchange developed on Binance’s own Binance Chain blockchain; Users maintain custody and control of their private keys and funds. This means that users’ funds are much less vulnerable to hacks or exchange closures; and Only limit orders are accepted. Unlike other exchanges, Binance DEX does not match orders continuously. Rather, it matches open orders received using a periodic auction. Learn more about Binance DEX here.
Does Binance require KYC?
Users must complete the KYC process in order to access all the features on the Exchange. Those who have not completed the KYC process are limited to fund withdrawal, order cancellation, position close and redemption functions on the Exchange only.
What is the difference between Binance KYC “Verified” and “Verified Plus”?
For “Verified” status, users will need to submit their personal information, and government-issued identification document, and pass facial recognition. Verified Plus requires additional proof of address, but in return will be entitled to higher fiat deposit and withdrawal limits.
How do I send Bitcoin to Binance?
In your Binance account, go to “wallet”, then under “deposits” click on “crypto deposits”. Select “Bitcoin” and the network you wish to use. Note that different networks may charge different fees. You will see a string of numbers and letters which is your deposit address. Copy and paste this deposit address into the platform or wallet you want to send your Bitcoin from and follow the instructions there.
How do I send crypto to Binance
Your Binance account will have different wallet addresses for different cryptocurrencies. On your Binance account, click “wallet”, and under “deposits” click on “crypto deposits”. Select the cryptocurrency you would like to deposit and the network you wish to use to process the transaction. Copy and paste the deposit address into the platform or wallet you want to send your cryptocurrency from and follow the instructions there. Before sending, CHECK carefully the deposit address, amount, and network so as to avoid any losses.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
BitMEX is a popular Bitcoin futures exchange for advanced traders and speculators, offering leveraged positions with Bitcoin (XBT) and low trading fees, but with a steep learning curve. The coverage of this review will be from BitMEX’s details about the company up to all its features and cons.
BitMEX is a popular Bitcoin futures exchange for experienced traders and speculators, offering leveraged positions with Bitcoin (XBT) up to 100x times. Trading on BitMEX is highly risky and rewarding, so caution should be taken when using the platform.
BitMEX, established in 2014 and based in Hong Kong, is a secure and reliable cryptocurrency exchange. It offers the lowest Bitcoin margin trading fees and a straightforward sign-up process, although KYC is required. The platform has a user-friendly UI and dashboard, but it may be challenging for beginners. If you’re new to the crypto space, we recommend starting with a simpler exchange such as Bitstamp, Coinbase, or Poloniex.
Key Features of BitMEX
You can try these main features of BitMEX:
Futures Contracts. Cryptocurrencies can be bought or sold at a predetermined price on a specific date in the future through Futures Contracts.
Perpetual Contracts. These are agreements that are similar to futures contracts, but without a pre-set expiration date. You can maintain your position in these contracts for as long as you wish, or until your position is closed out.
BitMEX UP & DOWN Contracts. It offer traders the opportunity to benefit from the potential gains or losses of an underlying asset. These contracts allow users to speculate on the Bitcoin price at a specific settlement date. Furthermore, they will receive or pay the difference if their prediction is correct or incorrect.
Quanto Futures Contracts. BitMEX offers Quanto Futures Contracts in US Dollars and Tether, allowing traders to gain exposure to the USD or USDT price of assets without having to hold either USD/USDT or the asset itself.
Trade Bitcoin contracts with up to 100x leverage – maximize your potential profits with our high-leverage options.
Above-average customer support. BitMEX provides 24/7 customer support through various channels, such as a support ticketing system, comprehensive knowledge base, Weibo, Wechat, IRC, Twitter, and Reddit.
Professional and secure exchange. BitMEX deploys advanced security measures such as multi-signature cold storage, two-factor authentication, PGP email encryption, and comprehensive risk checks for every user trade.
Comprehensive order types for different trading strategies. BitMEX users can access a range of order types to suit their trading strategies, including limit, market, stop market, stop limit, trailing stop, take profit, hidden, iceberg, post-only, and close-on-trigger orders.
BitMEX Testnet. BitMEX Testnet is a great way for beginners to learn margin trading without risking real money. Moreover, it’s a 1:1 replica of the mainnet, running on fake Bitcoins, so you can get familiar with the platform before signing up on the mainnet.
Key Advantages of BitMEX
Strong Security – Assets are Kept in Cold Storage
BitMEX offers a multi-signature deposit and withdrawal system that requires multiple verification steps for added security. This ensures that your wallet, system, trading and communication are all kept safe.
BitMEX offers one of the most secure storage solutions for your cryptocurrencies, with all addresses stored in a cold wallet. Cold wallets are kept offline, meaning that even if your personal information is compromised, hackers won’t be able to access your wallet as your private keys are not exposed.
For enhanced security, it is recommended to store at least part of your crypto assets in a secure hardware (cold) wallet. Popular hardware wallets include Ledger Nano X and Trezor Model T. Both are highly appreciated by users for their security, usability, and design. If you’re looking for extra security when using BitMEX exchange, investing in a hardware wallet is a great way to ensure your funds are kept safe. All BitMEX reviews should mention this as an additional security measure.
Futures Contracts and Other Services
BitMEX is a crypto exchange that offers more than just regular trading services. It provides users with access to futures contracts, perpetual contracts, margin trading, and more.
BitMex Future Contracts:
BitMEX futures are a type of agreement to buy or sell a specific asset at a predetermined price and time in the future. This type of trading is risky due to the volatile nature of the cryptocurrency market, and investors can potentially make large profits or losses. It is important to understand the risks involved before entering into a futures contract.
BitMex Perpetual Contracts:
Perpetual contracts are similar to futures contracts, except that there is no predetermined expiration date. Buyers can hold these contracts for as long as they wish, without any pressure to sell.
BitMex Margin Trading:
BitMEX is a crypto derivatives trading platform, allowing users to trade financial assets using up to 100x leverage. This means that with an investment of just $10, traders can effectively trade as if they had $1000. This works in a similar way to a loan, allowing traders to maximize their potential profits.
Derivatives are financial products that derive their value from an underlying asset, such as Bitcoin, Ethereum, or any other altcoin. With BitMEX, traders can use margin trading to leverage their positions, but the platform’s smart margin and liquidation process will automatically close all open positions and protect traders from going bankrupt if their balance drops below zero.
To get the most out of BitMEX’s powerful features, it’s important to understand how it works. The best way to do this is to practice in “learning” mode on the BitMEX TestNet.
Practice Trading with BitMEX TestNet
BitMEX TestNet is the perfect way for beginners to practice trading without any risks. This simulation allows users to gain experience in placing, executing and canceling orders, making it an invaluable tool for those just starting out.
Create a separate account on BitMEX TestNet to practice trading Bitcoin with up to 100x leverage. Signing up only takes a few minutes and you’ll be able to view the current market and perform various actions.
BitMEX Fees – Very Low
BitMEX offers low fees for both perpetual contracts and traditional futures. The maker fee is -0.0250%, while the taker fee is 0.0750%. By minimizing your fees, you can maximize your earnings when trading on the platform.
BitMEX does not charge for deposits or withdrawals, however, when withdrawing Bitcoin, a minimal Bitcoin Network fee is required, depending on the blockchain load. Market makers receive a negative fee, meaning they receive a rebate, a small percentage of the amount spent, instead of paying extra. Market makers add liquidity to the market and set a price, while market takers trade at a price set by the market maker.
BitMEX App
BitMEX offers a mobile app for Android and iOS users, allowing them to keep track of their assets and trade cryptocurrencies on the go. Rated 4.4 out of 5 on Google Play, the BitMEX app is a must-have for any crypto fan.
Customers report that this app is easy-to-use and has a clear interface, with no technical issues encountered. Users find that navigating the app is straightforward when they know what they are doing. Download the BitMEX app to access real-time market data, make deposits and withdrawals easily, increase your security with multiple authentications and login notifications.
Helpful Customer Service
If you experience any issues or have any questions while using BitMEX, you can contact their customer support team by pressing the “Contact” button on their main page. The support is available in English, Chinese, Russian, Korean, and Japanese.
BitMEX offers helpful customer support that can solve any issues and answer important questions. Users can find answers to generic questions in the company’s FAQ section. Furthermore, specific inquiries can be addressed via email.
Key Disadvantage of BitMEX
Despite its many advantages, BitMEX has some drawbacks that should be taken into consideration. These include high fees for certain transactions, a lack of customer support, and a complex user interface that can be difficult to navigate. Additionally, the platform is not available in all countries, and it is not regulated by any government or financial authority. (https://www.tnsdiamonds.com/)
BitMEX USA – Not Available
For US citizens, finding a reliable cryptocurrency exchange platform that is compliant with US regulations can be challenging. It is important to ensure that the exchange is supported in your country before making any trades to avoid any legal issues. BitMEX services are not available in certain countries, including:
The USA
The province of Ontario in Canada
The province of Québec in Canada
The Hong Kong Special Administrative Region of the People’s Republic of China
The Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol
Iran
Syria
North Korea
Sudan
It is important to check the laws of individual countries to ensure that crypto and trading activities are not prohibited. BitMEX does not support certain countries, so it is essential to research the legal status of crypto and trading in each country before engaging in any activities.
Not Recommended for Beginners
BitMEX offers a range of advanced trading features, including margin trading with leverage, futures contracts, and perpetual futures. However, these processes can be complex and risky for inexperienced traders, so it is important to understand the risks before engaging in any of these activities.
Making a risky decision such as BitMEX futures trading requires thorough research, market analysis, and an investment amount that you are comfortable with potentially losing. This type of trading is not recommended for beginners.
For beginners, BitMEX may not be the best option as withdrawals and deposits can only be made in Bitcoin. This means that users cannot purchase cryptocurrencies using fiat currencies, such as USD and EUR, and must transfer Bitcoin from another platform to BitMEX.
For reliable crypto exchange, Binance and Coinmama are the best options. Both platforms support fiat currencies and allow users to purchase Bitcoins easily.
No Fiat Currencies Supported and a Small Number of Coins Available
Making deposits on BitMEX can be a bit tricky for those who haven’t done it before, as the platform does not accept fiat currencies. However, this can be beneficial for experienced traders, as platforms that accept fiat currencies tend to charge higher fees.
BitMEX only deals with Bitcoin, so all profits and losses are reported in Bitcoin. It is important to be aware of this when using the platform.
Also, BitMEX is limited on supported altcoins:
Bitcoin
Bitcoin Cash
Dash
Ethereum
Ethereum Classic
Litecoin
Monero
Ripple
Tezos
Zcash
With hundreds of options to choose from, top-rated crypto exchanges such as Binance and Coinmama offer far more variety than the limited 10 cryptocurrencies available.
How to Use BitMEX?
If you’re looking to use BitMEX, you’ll need a guide on how to register and make a deposit. Here you’ll find all the information to get started with BitMEX.
How to Register on BitMEX?
Create an account on BitMEX by clicking the Register button.
Register by providing your email address, password and country of residence, then click the “Register” button.
Confirm your email address by clicking on the “Verify my Email” link.
Simply enter your credentials and you’ll be automatically logged in.
How to Make a Deposit on BitMEX?
Verify your identity to deposit funds on BitMEX.
Generate a wallet address to securely transfer assets.
Deposit only Bitcoin – no other cryptocurrencies accepted.
If you don’t own any Bitcoins yet, it’s recommended to create an account on Coinbase and purchase Bitcoins using fiat currencies, then transfer them to a BitMEX wallet address generated for you.
Conclusion
BitMEX, a cryptocurrency derivative trading platform founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, is owned by HDR Global Trading Limited and has offices around the world. With its advanced features, BitMEX provides users with a secure and reliable trading experience.
BitMEX offers advanced features such as futures contracts, perpetual contracts, and margin trading with up to 100x leverage, making it an ideal choice for experienced traders. The platform also provides a high level of security, including multi-signature deposit and withdrawal systems, multiple verification methods, and a cold wallet.
BitMEX TestNet is the perfect way to learn margin trading with leverage without any risk. With low fees, BitMEX is an ideal platform for daily traders. However, it is not recommended for those who are not experienced with cryptocurrency derivatives trading. Additionally, it is not available in some countries, including the USA, and does not support any fiat currencies.
If you are looking for an alternative to the platform you are currently considering, Binance and Coinmama are two options worth exploring. Consider all aspects of the platform before deciding if it is the right fit for your needs.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Changelly is a secure and smooth crypto trading platform that offers users a safe and easy way to buy and sell cryptocurrencies. In our Changelly exchange review, we look at this non-custodial cryptocurrency exchange that lets you buy and sell more than 150 different cryptocurrencies using your bank card, a transfer, or other cryptocurrencies. It is really convenient, quick, safe, and easy.
Changelly is a cryptocurrency exchange that started in 2013 and became its own company in 2016. It is based in Malta and has become very popular with over 2 million users. People like it because it has never had any problems with bugs, frauds or hacking. It is easy to use and you can buy, sell and exchange cryptocurrencies without having to deposit any money. People trust Changelly to trade cryptocurrencies safely.
Changelly is owned by a group called MinerGate that is known for mining cryptocurrencies. Changelly is easy to use and supports many different currencies. It also has low fees for transactions. You can pay with credit cards, bank transfers and other ways. Because of its low fees and fast transactions, Changelly is a good choice for people who want to exchange cryptocurrencies quickly and safely.
Key features of Changelly
Changelly is an easy and safe way to buy and trade cryptocurrencies. You don’t have to sign up to exchange some types of currencies, but you do have to give some personal information if you want to use regular money to buy cryptocurrencies.
Changelly supports more than 25,000 pairs and 150 different coins, so you have a lot of choices.
The platform doesn’t hold onto your money for you.
Changelly has an app for Android and iOS phones that you can use to buy and trade cryptocurrencies wherever you are.
Changelly has really good customer service and over 2 million happy customers. You can get help by chatting on their website, emailing them at support@changelly.com or using the app.
Key Advantages of Changelly
No Personal Info
Changelly is a popular platform for exchanging cryptocurrencies. You don’t need to give any personal information to exchange altcoins. All you need is an email address. This is used for two-factor authentication and to keep track of your transactions. It also helps keep your account safe and lets you recover it if you forget your password. Changelly has good exchange rates and a lot of coins to choose from. This makes it a good choice for buying, selling, or trading cryptocurrencies. Here’s some of our tips to keep your cryptocurrencies safe.
Flat Fee
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The blockchain network charges a small fee for each transaction. Changelly charges an extra 0.25% fee for processing the payment. They claim this is the lowest fee you can find.
Changelly Safety
Changelly is a safe and reliable platform for trading cryptocurrencies. There have been no reports of scams or hacks. People say the customer service is helpful. Changelly is open about its services and there have been no big safety issues. So, Changelly is a good choice for trading cryptocurrencies.
Customer Support
Changelly has great customer support. You can get help through the website chat, app chat, email, ticket submission, or knowledge base. The website is in 12 languages, including English, Spanish, Korean, Arabic, German, Portuguese, Russian, French, Hindi, Turkish, Chinese, and Japanese. This means people from all over the world can get help. Changelly’s customer support is fast and friendly. This makes it a good choice for trading cryptocurrencies.
Changelly Mobile App
Changelly has a mobile app for Android and iOS devices. It’s easy to use and has all the features of the website. You can use the app to buy or switch cryptocurrencies on your phone. The app is safe and easy to use. This makes it a good choice for buying or switching cryptocurrencies. With Changelly, you can buy and switch cryptocurrencies easily and safely from home.
How to Use Changelly?
Sign up for Changelly
Changelly does, however, guarantee the best exchange rates available for any given cryptocurrency at any given moment. It would probably be wise to double-check the exchange rates at other cryptocurrency trading platforms just to be safe. All you need to start trading is an email address, so registering on the website takes just a few seconds.
All that’s left to do is confirm the payment and wait to get your alternative currency. On a typical day, the process shouldn’t take more than 30 minutes; but, if the platform is experiencing high traffic, don’t be concerned if it takes a little longer to acquire your money.
How to buy cryptocurrency on Changelly (fiat-on-ramp)
Buy crypto instantly with Changelly below!
After choosing the currencies and amount above, click “Buy instantly”. You will also be asked to provide your wallet address to receive cryptocurrencies. You will then be redirected to the payment merchant’s page (Banxa) for payment. Most major credit cards (i.e. Visa, MasterCard) are accepted.
How to sell your crypto on Changelly
Go to https://changelly.com/sell and choose the type of cryptocurrency you wish to sell. You will then need to verify your email and your identity with an identification document and selfie. Fiat from selling cryptocurrencies will be deposited to your credit card (Visa, MasterCard and some virtual cards) or debit card. You will also need to provide a cryptocurrency address for refunds. This is so Mercuryo, the payment merchant can refund any cryptocurrencies to you if something goes wrong, or there is a price fluctuation. You will have the option to choose to get a refund if the rate has changed by more than 5% in the time between you confirming the transaction, and when it is actually processed. Alternatively, you can choose to make an unconditional payment, meaning the transaction will be processed and you will receive fiat regardless of rate fluctuations.
How to swap cryptocurrencies on Changelly
Swap cryptocurrencies instantly with Changelly below!
Select the currency you wish to swap to and from, and the amount, then click “Exchange”. Changelly will ask you to provide your wallet address for receiving cryptocurrencies. Afterward, Changelly will give you an address to send your cryptocurrencies. Stay on this page to be updated on progress. Once the transaction has been completed, Changelly will send your cryptocurrencies to the destination. It may take a few minutes before your funds show up.
What is Changelly Pro?
Changelly Pro is a full-featured exchange platform by Changelly that allows users to upgrade their trading experience. It features an intuitive trading terminal that allows users to read signals, easily place trades and stay connected to the crypto markets 24/7. Changelly Pro also offers account security with 2FA protection, email confirmations, and whitelists for withdrawals. Additionally, it has a multi-currency wallet that allows users to manage multiple currencies without the need for additional wallets.
Changelly fees
The blockchain network charges a small fixed fee for each transaction and Changelly charges an additional 0.25% commission fee for cryptocurrency trades. According to Changelly, this is the lowest fee in the market.
Changelly Pro charges three types of fees: fees for depositing money, fees for trading and fees for withdrawing money. Changelly made their fees clear and competitive. You don’t have to pay a fee to deposit cryptocurrencies, but you do have to pay a fee to deposit regular money. The fee can be from 1% to 7% depending on how you pay and who you pay through. Changelly suggests using bank transfers because they have lower fees.
Changelly uses something called the maker-taker model to calculate trading fees. The fees are different depending on if you are adding or taking away money from the order book. Fees for makers are usually lower than fees for takers. Changelly also looks at how much you have traded in the past 30 days to figure out your trading fees. They only do this for TRADER and PRO accounts. If you trade more, your fees will be lower. For example, if you have a starter account, your fees will be 0.1% for both maker and taker. But if you trade 100,000 BTC or more in 30 days, you will only have to pay 0.03% for taker fees and nothing for maker fees.
Withdrawal fees are minimal and vary depending on the cryptocurrency being withdrawn. For example, Bitcoin withdrawals incur a fee of 0.0004 BTC, 0.003 BTC for Ethereum, and 4 USDT for Tether.
Changelly supported countries
The Changelly platform is available worldwide except for Cuba, North Korea, Iran, Syria, Crimea, Sudan, the United States of America (including all USA territories such as Puerto Rico, American Samoa, Guam, Northern Mariana Island), the US Virgin Islands (i.e.St. John, St. Croix, and St. Thomas), Bangladesh and Bolivia, and countries subject to the United Nations Security Council Sanctions List.
Changelly supported payment methods
Changelly offers a variety of payment methods for buying cryptocurrencies. These include credit cards, bank transfers, and more. The platform also supports over 150 different cryptocurrencies that can be used to buy other cryptocurrencies.
Changelly supported cryptocurrencies
Changelly supports over 150 different cryptocurrencies. A full list can be found here.
Conclusion
In this Changelly exchange review, we find that Changelly exchange is a trusted and safe crypto exchange platform that offers its users 100 different altcoins to trade in. The company is constantly working to provide the best customer experience in both the exchange and security departments. However, the main issue that Changelly has to deal with is its fiat currency exchange pricing, which has caused many people to question the safety and fees of the platform. To avoid these issues, customers can check out other recommended crypto exchange platforms such as ByBit, Binance, KuCoin, and Kraken.
When reviewing a cryptocurrency exchange, it is important to consider several key factors to ensure that the exchange meets the needs and expectations of its users. In our reviews, we have evaluated a crypto exchange based on the services it offers, the cryptocurrencies it supports, its trading fees, and its security measures. These criteria were chosen because they are essential for providing a comprehensive and reliable trading experience for users. So by examining these aspects of an exchange, we can provide an informed and objective assessment of its overall performance and value to users.
Services offered: Changelly offers an easy-to-use and simple platform for users to buy, sell, and exchange cryptocurrencies. It supports over 150 different cryptocurrencies and offers a variety of payment methods, including credit cards and bank transfers.
Cryptocurrency support: Changelly supports over 150 different cryptocurrencies. Whilst it is not the most compared to other exchanges, it is enough for most levels of traders.
Trading fees: Changelly charges a 0.25% commission fee for cryptocurrency trades, which it claims is the lowest fee in the market. However, it is important to note that the blockchain network also charges its own fees for each transaction.
Security: Changelly is considered a safe and reliable platform for trading cryptocurrencies. There have been no reports of scams or hacks, and users have praised the company for its helpful customer service when issues do arise.
Frequently Asked Questions (FAQs)
What fees does Changelly charge?
Changelly claims to have the lowest commission fee for cryptocurrency trades in the market at 0.25%. However, it is important to note that the blockchain network also charges its own fees for each transaction. For Changelly Pro, deposit fees, trading fees, and withdrawal fees are charged. Depositing cryptocurrency incurs no fees, but depositing fiat currency incurs a fee that varies from 1% to 7% depending on the payment method and fiat provider chosen. Changelly uses the maker-taker model to determine trading fees and varies them depending on whether liquidity is being added or taken from the order book. Typically, makers’ fees are lower than takers’ fees. Changelly also bases trading fees on trading volume over a 30-day period and applies them only to TRADER and PRO accounts. Minimal withdrawal fees are charged by Changelly and vary depending on the cryptocurrency being withdrawn.
Does Changelly have a mobile app?
Changelly has a mobile app that is available for both Android and iOS devices. The developers made the app as user-friendly as the website and included all the features of the website. With the Changelly app, users can buy or switch cryptocurrencies directly from their phones.
Is Changelly safe?
There have been no reports of scams, hacks, or other malfunctions within Changelly, and users have praised the company for its helpful customer service. Changelly is transparent with its services, and there have been no major issues regarding safety. As such, Changelly is considered by many to be a safe and reliable platform for trading cryptocurrencies.
Which countries does Changelly support?
Changelly is available worldwide except for Cuba, North Korea, Iran, Syria, Crimea, Sudan, the United States of America (including all USA territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island), the US Virgin Islands (St. John, St. Croix, and St. Thomas), Bangladesh and Bolivia, and countries subject to the United Nations Security Council Sanctions List and its equivalent.
Can I use Changelly in the USA?
No, Changelly is not available in the USA.
Does Changelly require KYC?
Changelly does not require KYC (Know Your Customer) verification for exchanging cryptocurrencies. The only thing needed to start trading is an email address. However, for transactions from fiat to cryptocurrency, you must provide some identity information, such as an identification document and a selfie.
Is Changelly MoonPay safe?
MoonPay is a payment provider that Changelly uses to process credit and debit card transactions. According to MoonPay’s website, they encrypt all data using AES-256 block-level storage encryption while in transit. Furthermore, MoonPay has a bug bounty program that rewards individuals for finding and reporting security weaknesses. This allows MoonPay to make improvements to its security.
What payment methods are accepted by Changelly?
Changelly offers many payment methods for buying cryptocurrencies including credit cards, bank transfers, and more. The platform also allows users to buy over 150 different cryptocurrencies using other cryptocurrencies.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Revolut is a UK-based mobile banking solution that has entered the cryptocurrency industry. They are offering their users a unique range of features such as CFDs, derivatives, and custodial services. In this review, we will talk about on how Revolut works and its pros and cons.
Revolut is a UK-based mobile banking solution that has recently entered the cryptocurrency industry. Although there are not many user Revolut crypto reviews available yet, it is possible to draw some conclusions about this venture.
This exchange is an innovative player in the cryptocurrency space, offering users a range of unique features such as CFDs, derivatives, and custodial services. Many users have praised the platform for its cutting-edge features.
Revolut offers three convenient ways to purchase cryptocurrencies: using held currencies like USD or existing crypto assets on your Revolut account, setting up an ‘auto-exchange’ to buy cryptocurrency at a target rate, and setting up a “recurring buy” to purchase cryptocurrency at regular intervals.
Key Features and Advantages of Revolut
This Revolut crypto review is unique. The features offered can be seen as both great investing solutions and something to stay away from. However, depending on the user, Revolut can be a great way to invest in crypto or a platform to avoid.
You Kind of Don’t Actually Purchase Cryptocurrencies
From registering on a cryptocurrency exchange, passing KYC verifications (if the exchange is centralized and regulated), transferring funds (usually in the form of fiat currency), purchasing the desired crypto asset, and then transferring it out of the exchange into a cryptocurrency wallet are the general steps involved in most cryptocurrency exchanges.
Revolut is an exception to the majority of exchanges that are currently leading the industry, as when you purchase cryptocurrency on Revolut, you don’t actually receive any crypto coins. Instead, you are credited with the amount that it costs at that time, with a contract being made on behalf of the asset.
Revolut crypto reviews often refer to the platform as “CFD trading”, but in reality, it is actually derivative trading. Derivative trading involves buying a contract for an underlying asset, based on the asset’s current value at the time of the transaction. This allows users to benefit from the asset’s price appreciation without having to own the asset itself.
The good part about Revolut’s approach is that it allows you to buy and sell cryptocurrencies quickly and easily, without having to worry about the technicalities of actually buying and selling the coins themselves. This makes it a great option for those who are new to the world of cryptocurrency and don’t want to get bogged down in the details. Additionally, Revolut’s contracts are fully backed by the company, meaning that you can be sure that your money is safe and secure.
With the increasing popularity of cryptocurrencies and the simplification of investment methods, more and more people are entering the crypto market. This is evident from the increasing number of Revolut crypto reviews from users.
Revolut is the perfect choice for those who want to make money with cryptocurrency but have no interest in actually holding their own coins. It takes away all the hassle and does all the work for you, so you don’t have to worry about transferring or owning any coins.
A Very Streamlined UI Design
Revolut is renowned for its user-friendly interface, making it one of the best mobile banking solutions and crypto exchanges available. Many online reviews praise the usability of the app, highlighting its convenience and ease of use.
Revolut is an easy-to-use mobile platform that allows users to access exchange services with ease. Whether you’re browsing the app or signing up to explore the exchange features, you’ll find the user experience to be smooth and straightforward.
Revolut is the perfect example of why ease of use is an important factor when selecting the best crypto exchange for you. The app is designed with a modern and intuitive layout, with no unnecessary buttons, and is highly responsive and fluid. With Revolut, you can be sure that your crypto exchange experience will be smooth and hassle-free.
Supports the Main Cryptocurrencies
Revolut offers a range of cryptocurrency derivatives, allowing users to gain exposure to the crypto markets without actually owning the underlying coins.
Revolut has chosen the five major cryptocurrencies that are dominating the industry and are highly ranked in popularity, making it a great choice for those new to the crypto world who want to invest in the major cryptos.
If you’re new to the world of cryptocurrency, you may not be interested in researching all the smaller coins available. Although today’s newcomers to the market are more knowledgeable about crypto, the majority still prefer to stick with the smaller, lesser-known cryptocurrencies.
If you’re a crypto enthusiast looking for a good starting point, Revolut crypto reviews can provide you with valuable insight.
Many Additional Features Available
Revolut is a mobile banking solution that offers users the ability to invest in cryptocurrencies. This additional feature allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. With Revolut, users can easily manage their finances and take advantage of the cryptocurrency market.
A range of benefits come with choosing a multi-currency account, such as free UK-based accounts, reduced ATM fees, free cards, free SWIFT transfers, global express deliveries, and unlimited cross-border free transfers. Depending on the plan you choose, you can enjoy a variety of perks.
User Revolut crypto reviews highlight the platform’s ability to facilitate traditional stock investing, with a wide selection of stocks and an easy-to-use trading and investing process.
Key Disadvantages of Revolut
Bad Part of NotActually Purchasing Cryptocurrencies
Revolut Trading does not provide users with their own cryptocurrency, but instead works in a similar fashion to derivative trading. Contrary to their official blog, Revolut does not purchase or sell cryptocurrency on behalf of the user, meaning that users do not actually own the crypto.
You won’t be able to transfer cryptocurrency that you own to the Revolut platform, as it can only be bought and sold on the platform. If the coins were truly yours, you would be able to do whatever you want with them, but this is not the case with Revolut.
Crypto enthusiasts often remind users of the saying “not your keys, not your coins” to emphasize the importance of owning the private keys to their wallet, as without them, coins can be taken away at any time – something echoed by multiple Revolut crypto reviews.
Revolut’s stance on the matter is clear: their services may not be suitable for everyone. However, they do not provide a convincing argument to support this claim. It’s model of crypto trading is not suitable for everyone. If you prefer to own your own coins, transfer them, trade them freely, or keep them in your own wallet, Revolut is not the right choice. Consider Binance and Coinbase as alternative options.
Dissuasive Fees
Revolut’s crypto trading fees are unique compared to other exchanges, and unfortunately, not always in a positive way. User reviews of the platform often point out that the company employs a fee model that is not as competitive as other exchanges.
This exchange employs the VWAP (Volume-Weighted Average Price) model to calculate its crypto fees. This model takes into account the market price of a cryptocurrency that has experienced the highest volume at any given time, in order to determine the price of the cryptocurrency on the Revolut exchange.
Their lack of support for brief price swings is bad news for crypto traders, as it means they won’t be able to take advantage of short-term price movements. For example, if Bitcoin were to experience a sudden drop in price, traders wouldn’t be able to purchase it at the lower price since it wouldn’t have the most volume on the market.
Very Limited Number of Cryptocurrencies
Revolut crypto reviews note the apparent lack of additional altcoins, as the platform only supports some of the main cryptocurrencies that you might want to trade and invest in. This is in contrast to other high-end cryptocurrency exchanges, which typically support anywhere from 80 to 200 different cryptocurrencies.
Revolut may not be the best choice for those interested in exploring the cryptocurrency industry, as it offers limited support for alternative coins. If you don’t actually own any of the coins you purchase through Revolut Trading, it’s important to understand the distinction between those who will benefit from this exchange and those who should stay away from it.
Before we make a final judgement, let’s take a closer look at the Revolut platform and the process of investing in a cryptocurrency. We’ve already discussed the fees, usability features, and more, so now let’s dive deeper into the platform itself.
How to Use Revolut?
If you’ve downloaded the Revolut app, gone through the registration and identity verification processes (KYC) and are now on the main dashboard, you’re ready to purchase your first cryptocurrency on the Revolut exchange. Here’s a step-by-step guide to help you get started. (https://compassionprisonproject.org/) Note that the process may be slightly different for Revolut USA customers, as this guide is based on the European version of the app.
From the main Revolut dashboard, navigate to the second tab from the left in the lower-left corner to access the Wealth section of your account. Here, you can view and manage all of your investments.
2. At the top of the interface, you can access your assets, including traditional stocks, crypto, commodities, and vaults. In the middle of the screen, you can view your investment balance and investments. Scroll down to view the transactions you’ve made. To access the Crypto section, navigate to the Crypto part of the interface.
3. Revolut is the perfect way to get started with cryptocurrency. Our easy-to-use platform allows you to quickly and securely exchange fiat currency for digital assets. Learn more about our exchange and the world of crypto with our interactive Instagram story notifications.
4. Once you’ve done your research, you can select the cryptocurrency you’d like to buy and enter the amount of money you’d like to invest. After submitting your order, all that’s left is to wait for the funds to be credited to your account. It’s that simple!
Revolut has optimized the investment process for its users, and now with the company’s expansion into Revolut USA, US-based investors can benefit from the same process. It is important to take the time to explore the platform and understand how Revolut works to ensure it meets your needs.
Trading cryptocurrency is similar to traditional stock and commodity trading, but you should also familiarize yourself with the banking interface of Revolut to take advantage of the various plans they offer. To sell your cryptocurrency, you can go to the Crypto screen, swipe left to place a SELL order, and select the amount you want to sell.
Revolut is a leader in terms of user-friendliness and simplicity when it comes to the crypto purchasing process. It would be great if the exchange was non-custodial as well!
Conclusion
Revolut is a unique cryptocurrency trading solution that was originally designed as an online, mobile-based banking app. However, it has since evolved to become a popular platform for cryptocurrency trading and investing. In this review, we have explored the features and benefits of Revolut’s crypto trading service, as well as its drawbacks. We hope that this review has helped you to make an informed decision about whether Revolut is the right crypto trading platform for you.
I would recommend trying out Revolut’s cryptocurrency exchange, but it ultimately depends on your own personal wants and needs when it comes to cryptocurrencies.
If you are a complete novice to the world of cryptocurrencies and are only looking to make a quick profit through day trading, Revolut could be a great place to start. Many users have given positive Revolut crypto reviews, making it a popular choice for those looking to make a quick buck.
If you’re looking to hold your own cryptocurrencies in a wallet that belongs to you, or to trade a wider selection of coins, then Revolut may not be the best option. Consider platforms such as Coinbase and Binance, which offer better insurance and fee models.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
The increasing popularity of cryptocurrencies has led to the emergence of numerous crypto exchanges, making it challenging to find a reliable platform with essential features, necessitating a detailed Upbit review. The Upbit review will evaluate the cryptocurrency exchange’s quality by examining various aspects and provide an overview of the company’s objectives, followed by instructions on creating an account.
Upbit, a South Korean crypto exchange founded in 2017 by Song Chi-Hyung, one of South Korea’s richest men, has become one of the leading cryptocurrency exchange platforms in terms of 24-hour trading volume. With the help of Bittrex, an American crypto exchange platform, Upbit was able to launch successfully and within two months of its launch, it had already become a major player in the crypto market. Upbit offers a secure and reliable platform for users to trade cryptocurrencies, making it a popular choice for crypto traders.
Upbit embarked on expansion in Southern Asia in late 2018, starting with Singapore and later Indonesia. One unique aspect of Upbit is that it became the world’s first crypto exchange to receive Information Security Management System (ISMS) certifications from the Korea Internet and Security Agency.
Key Features of UPbit
Although Upbit is not the most eccentric or extensive exchange, its affiliation with major tech companies has resulted in a unique and focused set of features.
Various trading options. Upbit presents a wide range of cryptocurrencies and assets for users to select from.
No deposit fee is charged. Users of the platform can deposit funds without incurring any fees, making it a cost-effective option for investors looking to trade in the crypto market.
Upbit’s ecosystem. Products, services, and features provide a comprehensive digital solution, making it an ideal platform.
A key factor in its potential. Leveraging its affiliation with Kakao, Upbit has access to a vast potential user base that could propel the platform to new heights, solidifying its position as a leading crypto exchange.
Clean interface. The Upbit’s view is straightforward and uncluttered, offering users a simple and clean interface to execute trades.
Monitor various analytics. On its trading platform, Upbit offers a feature that enables users to track multiple analytics and statistics, access the latest market trends, and make more informed trading decisions.
Key Advantages of UPbit
As previously noted, I will commence this Upbit review by highlighting the platform’s positive attributes. Considering the breadth of features available on Upbit, it is essential to assess each one thoroughly.
Sturdy Security
Upbit is a cryptocurrency exchange with reliable security features, including a 24/7 monitoring system, 2-step verification, and an additional fund password for withdrawals. Completing level 4 verification is necessary for SGD deposits or withdrawals. While Upbit previously relied on BitGo to secure its wallets, the company no longer uses its services following a security breach in 2019 that resulted in the movement of $50 million worth of Ethereum to an anonymous wallet. Upbit responded by updating its wallet’s security, introducing new addresses, and transferring assets to more secure cold wallets. The company also offered full refunds to affected users, demonstrating its commitment to security and restoring trust in its platform.
To ensure the safety of your cryptocurrency, it’s suggested to choose cold or hardware wallets instead of online ones. Cold wallets keep your private keys offline and prevent hackers from accessing your wallet. Reliable options include Ledger Nano X and Trezor Model T. Although Upbit is considered one of the safer crypto exchanges, it has experienced a cyber attack, so it’s recommended to purchase a reliable crypto wallet to protect your assets.
More than 200 Assets Supported
Upbit is a top-rated crypto exchange that supports deposit and withdrawal of more than 200 assets, including BTC, ETH, LTC, and EOS. It offers a wide range of options, allowing users to find the asset they need without being limited to only a few. Upbit is one of the few exchanges that offer such a large selection of cryptocurrencies, making it a great choice for those looking for a reliable and secure platform.
Low Transaction Fees
Upbit is a reliable crypto exchange with industry-standard fees of 0.25% for both makers and takers. Withdrawal fees differ depending on the cryptocurrency, for example, BTC withdrawal fee is 0.0005BTC, ETH – 0.01ETH, LTC – 0.01. Upbit is a good platform for maximizing your profit, as fees are considered to be industry standard and in most cases, higher rather than lower. The company’s official site provides more information about the fees for other cryptocurrencies.
High Liquidity
One of the top crypto exchanges in terms of trading volume, currently ranked 63rd with a 24-hour volume of $323,555,840. It is also one of the top exchanges based on market cap. Upbit provides high liquidity, meaning that the asset can be sold for its market price very quickly. This is one of the reasons why Upbit Exchange is so recommended. The platform also interrelates trading volume and liquidity, meaning that trading volume indicates the liquidity level of a specific asset. Upbit is a reliable and secure platform for trading cryptocurrencies.
Beginners Are Welcome
Upbit is mentioned as a good option for beginners as it provides a clear interface, helpful customer support, market data, real-time trends, and analyses of different cryptocurrencies. It is emphasized that having these features will help traders make the right decisions when buying and selling cryptocurrencies. Other exchanges mentioned that may be even more beginner-friendly include Binance, Kraken, and Coinbase. The article aims to educate and encourage beginners to research and choose a trading platform that is easy to use and suits their needs. (https://www.almostthererescue.org)
Helpful Customer Support
Upbit has been praised in customer reviews for its polite and efficient customer support, which can be contacted through phone, email, and KakaoTalk. The platform also has an extensive support section on its website, including a user guide, trading guide, deposit & withdrawal guide, and an FAQ section covering topics such as account, security, 2FA, exchange, deposit & withdrawals, and trading.
The FAQ section is helpful for generic questions, but for more specific inquiries, it is recommended to contact customer support. Upbit’s customer support was tested and found to be responsive, providing clear answers and additional material for self-improvement. Upbit is an easy-to-use and beginner-friendly platform, but other highly-recommended exchanges such as Coinbase, Binance, and Coinmama should also be considered.
Available in Mobile App
Upbit is a crypto exchange that offers a desktop application for Mac and Windows devices, as well as a mobile app for iOS and Android devices. The app has 4.3 stars on the Google Play store and provides users with access to more than 150 assets and 220 markets. Security is improved by 2FA and fund password, and users can also benefit from a multi-signature cold wallet.
The majority of customers claim that the app has a clear interface that is easy to use and navigate. However, some people have had issues with the verification process and changing the password. Overall, Upbit is a reliable crypto exchange that provides a secure and user-friendly experience.
Key Disadvantages of UPbit
This Upbit review continues with a look at the potential drawbacks of the platform.
Trading With Leverage Is Not Available
Leverage trading, also known as margin trading, is a type of trading where you can trade higher amounts than you have available. It increases the potential reward but also increases the risk of losing everything. Upbit exchange does not offer margin trading, which is beneficial for beginner traders who lack the experience to make such risky investments. Negative balance protection is recommended for those who do decide to take advantage of margin trading, as it will stop them from going into minus.
Only South Korean Won Supported
This platform only supports the South Korean Won as a fiat currency. This means that if you want to purchase crypto using EUR or USD, you won’t be able to do that on Upbit. However, you can still purchase crypto using other exchanges that support fiat currencies and then transfer them to Upbit to start trading. Before doing that, you should consider other reliable crypto exchanges such as Coinbase, Binance, and Coinmama, which offer robust security, attractive features, and support multiple fiat currencies.
Not the Best Reputation
When choosing a crypto exchange, it’s important to check out customer reviews. Upbit crypto exchange has quite a good amount of negative reviews, with people mostly saying that they experience issues with the verification process and some even lost cryptocurrencies while using the platform. Additionally, Upbit has a bad reputation due to the huge hack in November 2019, which cost the company 342,000 ETH valued at about $50 million. Therefore, users should take this into account when considering Upbit crypto exchange.
Residents of the United States Are Not Eligible
When selecting a crypto exchange platform, it is important to consider not only the features it offers but also its availability in your country. Unfortunately, Upbit is only available to South Korean customers due to strict regulations. If this platform is not available to you, there are other crypto exchanges to choose from. A full list of recommended platforms can be found online, so you can find the most suitable option for you.
How Does Upbit Exchange Work?
When selecting a cryptocurrency exchange platform, it’s important to verify if it’s accessible in your location in addition to the features it offers. Regrettably, Upbit is only accessible to clients in South Korea due to stringent regulations and cannot provide services to US citizens.
If Upbit is inaccessible to you, you should consider exploring other cryptocurrency exchanges. A comprehensive list of suggested platforms is available, which will help you choose the most appropriate option based on your preferences.
How to Create an Account on Upbit?
Create an account on Upbit, the customer-friendly exchange, with ease by following this step-by-step guide.
Step 2. Please enter your email address, create a password based on the requirements, confirm that you are at least 18 years old, and check the “I’m not a robot” box.
Step 3. Navigate to your inbox and click the verification link. You have 30 minutes to complete this task.
Congratulations, you now have your own Upbit account!
Conclusion
Upbit is a well-known South Korean crypto exchange that offers over 200 supported assets, strong security, high liquidity, low trading fees, and a user-friendly interface suitable for beginners. However, despite its benefits, there are some concerns to consider. In 2019, Upbit experienced a hack that resulted in the loss of 342,000 ETH worth around $50 million. This is a significant event that should be taken into account.
Additionally, the exchange does not provide leverage trading, only supports one fiat currency, South Korean Won, and is unavailable to US residents. Therefore, it is important to carefully weigh the pros and cons before using the platform. Alternatives such as Kraken, Coinbase, and Binance should also be considered.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Crypto.com is an international cryptocurrency hub offering a wide range of services, from buying and selling crypto to earning interest and making payments, all with the security of a non-custodial wallet. We’ll talk about both advantage that you’ll get when you choose Crypto.com exchange together with its notable disadvantages, too.
Crypto.com is an international cryptocurrency hub that offers a range of services, including the Crypto.com App, Exchange, DeFi swap and Wallet, Pay, Earn, and Credit. With the Crypto.com App, users can buy over 100 top cryptocurrencies at true cost, earn high interest on their crypto, manage their Crypto.com Visa Card, and easily make crypto payments.
The Crypto.com DeFi Wallet is non-custodial, giving users full control of their private keys. Furthermore, Crypto.com works with regulatory institutions all over the globe to provide a convenient way to buy, sell, trade and spend cryptocurrencies.
Monaco Technologies GmbH, founded by CEO Kris Marszalek in June 2016, launched Crypto.com with the slogan “Spend anywhere, without fees.” In the first half of 2017, Monaco launched its own token, MCO, and raised approximately USD 26,7 million worth of crypto through an ICO. Moreover, the ICO ran from May 18 to June 18, and 12,135,542 MCO tokens were sold out of the total supply of 31,587,682. Crypto.com is a revolutionary platform that allows users to spend anywhere without fees. The MCO token is a secure and reliable way to store and transfer value.
Key Features of Crypto.com
Here are the important key features to take note of:
Spend cryptocurrency. Crypto.com Visa Card allows you to spend cryptocurrency and get up to 8% cashback rewards on your purchases.
Crypto.com App. The Crypto.com App allows users to purchase over 100 cryptocurrencies at true cost and manage the Crypto.com Visa Card, which enables them to pay for everyday purchases with crypto.
Crypto Earn. Earn up to 8% (14% for stablecoins) on your crypto deposits with Crypto Earn. Get paid weekly in the same crypto you deposited.
Crypto Credit. Secure up to 50% Loan-to-Value (LTV) with Crypto Credit – the safe and secure way to get a crypto loan.
Crypto.com Exchange. Crypto.com Exchange offers deep liquidity, best execution prices, and the lowest maker and taker fees in the industry. Moreover, refer a friend to the Exchange and get up to USD 2,000 referral bonus plus 50% commission on their trading fees for a year.
Crypto.com NFT. Crypto.com NFT offers exclusive collections of Non-Fungible Tokens (NFTs) from A-list artists, musicians, athletes, and brands. Users can easily purchase NFTs with their credit/debit card and sell collectibles in the Marketplace, where bidding starts at just USD 0.
The Syndicate. Crypto.com Exchange traders can take advantage of The Syndicate and purchase top cryptos such as Bitcoin (BTC), Polkadot (DOT), and Zilliqa (ZIL) at discounts of up to 50%.
Supercharger. Crypto.com App and Exchange users can deposit CRO into the Supercharger pool to earn popular DeFi tokens as rewards. The daily reward allocation is based on the liquidity provided by the user during the Charging Period.
DeFi Swap. DeFi Swap is a fork of Uniswap V2 that enables users to swap and farm DeFi coins at the most competitive rate. Additionally, users can securely store their crypto in the Crypto.com DeFi Wallet with a simple connection.
DeFi Earn. DeFi Earn allows users to maximize their returns by depositing their tokens into the highest APY protocol available. Currently, DeFi Earn is integrated with Aave Lending V2, Yearn Earn V2, Compound, Cosmos Staking, and native CRO Staking, providing users with the best possible returns.
Crypto.com Price. Crypto.com’s price page offers an easy way to stay up-to-date on the latest token prices, market movements, market capitalization rankings, and token information.
Depending on your location, some features of Crypto.com may not be available to you. For example, lending services are not available to residents of Hong Kong, Singapore, Switzerland, Malta, and the United States.
Key Advantages of Crypto.com
A Beginner-Friendly Crypto Exchange
Crypto.com has seemingly managed to make most of the processes on their platform as simple and straightforward as possible, as evidenced by the numerous positive user reviews found online. The platform has optimized its site to be as user-friendly as possible, making it a great choice for those looking for an easy-to-use crypto-related platform.
Buying Bitcoin on Crypto.com is a simple and quick process, both on the website and the app. This is an important factor, as many people may not realize how complicated and unintuitive some exchanges can be until they try them out for themselves.
Nowadays, with the cryptocurrency market experiencing an unprecedented bull run, more newcomers than ever before are entering the industry. Unfortunately, many of these individuals have no idea how to use crypto exchanges or purchase the coins they desire.
Crypto.com is the perfect choice for those just starting out in the crypto world, as it offers a simple-to-use, straightforward exchange platform for trading crypto assets such as IOTA, with optimal trading pairs and low maker/taker fees.
Secure Platform and Reliable
Security is an absolutely crucial factor to consider when looking for the best crypto exchange on the market. Without essential security features, there is a risk of hackers and thieves exploiting the platform and stealing all of the assets located on it. Unfortunately, there have been several instances of this happening in the past, even to some of the most well-known exchanges.
If you’re wondering if Crypto.com is a safe exchange, rest assured that it is one of the most secure exchanges currently available. With its robust security measures, you can be sure that your funds are safe and secure.
Crypto.com exchange utilizes two-factor authentication (2FA) as a mandatory security measure. This is one of the oldest and most effective security measures available, and it is still used by many exchanges today. By using 2FA, Crypto.com exchange ensures that its users’ accounts are kept safe and secure.
Furthermore, here are other security aspects you can expect on Crypto.com:
Password
Biometric Identification
Email Verification
Phone Verification
Authenticator
Crypto.com is offering users 100% cold wallet storage for their funds. This is a unique feature, as many other exchanges only offer cold wallet storage for a portion of their users’ crypto assets. Crypto.com reviews and the company’s statements regarding their security measures are in agreement, making it a safe and secure exchange.
24/7 Customer Support
At Crypto.com, customer support is a top priority, as evidenced by the many positive customer reviews. With their team of knowledgeable and friendly support staff, Crypto.com ensures that any issues you may have can be quickly and easily resolved. So, if you ever run into a problem, you can rest assured that Crypto.com will be there to help you out.
Crypto.com offers 24/7 customer support, with mostly live responses and a maximum wait time of a few hours. Customers have reported positive experiences with the helpful and communicative customer service staff.
Appropriate Fees
Crypto.com offers a tiered fee structure based on your 30-day trading volume (in USD). The more you trade, the lower your fees will be. This system allows users to benefit from reduced fees as their trading volume increases.
Crypto.com offers competitive trading fees, with the rate depending on the user’s 30-day trading volume. For makers, the fees range from 0.04% to 0.1%, while takers pay between 0.1% and 0.16%.
This exchange offers some of the most competitive fees on the market for both trading and withdrawing crypto assets. User reviews of the exchange show that the withdrawal fees are dependent on the crypto asset in question, but are generally quite reasonable.
Credit / Debit Card Purchases – Available
Using a credit or debit card to purchase crypto assets is a convenient and user-friendly way to start trading and exchanging cryptocurrencies. For those who are new to the crypto world, buying crypto with a card is a much faster and easier option than other methods. Crypto.com offers its users the ability to purchase crypto assets with a credit or debit card, making it a top-of-the-line crypto exchange.
Convenience is key when it comes to purchasing cryptocurrency. Crypto.com makes it easy for customers to buy crypto assets with a credit or debit card, as well as via a bank transfer. Additionally, users can also trade cryptos for other cryptos, giving them the flexibility to choose the payment method that best suits their needs.
Crypto-Based VISA Debit Cards
Crypto.com offers users the ability to get and use crypto debit cards, a unique feature that is helping to make cryptocurrency usage more mainstream. The company has partnered with VISA to provide users with convenient and secure crypto spending solutions.
The exchange also offers metal cards completely free of charge. However, to get one, you must purchase and hold CRO tokens (the native crypto token of the exchange) for at least 180 days. There are various tiers of cards available, each with different benefits, depending on the amount of CRO tokens you hold or stake. This is one of the most exciting features of the Crypto.com Exchange.
Key Disadvantages of Crypto.com
Mandatory KYC
KYC (Know Your Customer) is a set of rules and regulations that most top-rated exchanges adhere to. These regulations require users to provide proof of their residential address and identity, usually in the form of an ID card or driver’s license, in order to use the exchange.
Crypto.com is a secure platform, as it only allows legitimate crypto traders to use it, making it difficult for scammers and hackers to gain access. This ensures that users can rest assured that their funds are safe.
If you want to take advantage of all the features of the Crypto.com exchange, you’ll need to verify your identity. However, there are many crypto enthusiasts who prefer to remain anonymous when trading and exchanging, which is the original idea behind cryptocurrency. Wherever you stand on this issue, one thing is certain: identity verification is required to use the Crypto.com exchange.
Not the Biggest Number of Cryptocurrencies Available
Crypto.com offers a wide range of crypto assets to trade, with over 50 different coins available on the mobile app. However, some users may be disappointed by the limited selection of coins compared to other exchanges, as Crypto.com’s core mission is to provide users with a secure and easy-to-use platform for trading and managing their crypto assets.
Crypto.com is on a mission to become the go-to hub for crypto enthusiasts worldwide, as evidenced by their acquisition of the domain name. If you’re looking to become a successful cryptocurrency exchange, having a wide variety of assets is key. Crypto.com currently offers 50 different coins and trading pairs, but there are exchanges out there that offer over 100 coins and close to 800 trading pairs, making Crypto.com easily outshined.
How to Use Crypto.com?
Let’s now take a look at the actual usability of the exchange. We’ve already discussed how user-friendly the platform is, but let’s put it to the test and see how it performs in practice.
Click the Exchange button at the top of the page to be redirected to a dedicated section of the site for exchanging currencies.
Create an account by clicking the Sign Up button in the top-right corner of the page.
Fill out all the necessary details to complete the form.
Verify your email address now to complete the process.
Verify your phone number to ensure accuracy and security.
Log in to the website to complete the process!
The registration process for most exchanges is quick and easy, with no need for phone number verification. Signing up is a simple and straightforward process.
How to Deposit Funds into Your Crypto.com Account?
Log in to your Crypto.com Exchange account on your mobile device to access the latest cryptocurrency trading opportunities.
To comply with KYC regulations, Crypto.com requires users to pass verification and verify their identity. This process may seem tedious, but it is necessary to ensure the safety of your funds.
Verification times for exchanges can vary, but typically take only a few minutes to complete.
Once your identity is verified, you will be able to access the mobile exchange platform.
If you’re looking to buy cryptocurrency, the Trade button on our platform makes it easy. Simply select the cryptocurrency you’d like to purchase, add your card details, and you’re done!
The KYC process can be time-consuming and frustrating, especially when the cryptocurrency market is volatile. It can take up to three days to complete the process and start buying cryptos.
Conclusion
We would generally recommend Crypto.com as a platform. However, there are a few issues that need to be addressed.
Crypto.com is a great choice for those looking for a reliable and user-friendly crypto platform. With competitive exchange fees, helpful customer support, and a secure environment, Crypto.com is a great option for those looking to buy, sell, and trade cryptocurrencies.
Crypto.com offers a convenient way to purchase cryptocurrencies, but the KYC verification process can be lengthy compared to other exchanges. If you’re looking for an easier and faster way to buy crypto, Coinbase and Binance are two of the top crypto exchanges on the market.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
