So, you have decided to try online trading as a mean of additional income. Finding the right exchange, when you are new to the finance industry, is a difficult task. You will find a plethora of exchanges on the internet but you cannot trust all of them to provide you with the best services. You have to thoroughly look into the services the exchange provides before signing up with it. This is because, often, exchanges advertise more than what they offer.
I have traded with many exchanges over the years and just like you, I was once a new trader unable to choose from the variety of exchanges. So, with my experience to back me up, I consider myself capable enough to recommend reliable exchanges to new traders. I want to talk about a recently launched exchange called Currency.com. This exchange was only launched in 2019, yet it has made quite a name in the finance market. The exchange is not only trustworthy and accommodating for new traders but it also provides services that you will not find with another exchange. Let’s take a look at some of the best features provided by currency.com
Best & Unique Features
Tokenized Trading
Currency.com is the first-ever regulated tokenized trading platform. Let me explain what tokenized trading means. Tokenized trading refers to trading with assets that have been added to a blockchain which is an online ledger for all transactions. With tokenized trading, all your assets turn into digital tokens on a blockchain. This brings many benefits to the trader, such as large volumes of asset liquidity, etc. Basically, with tokenized trading, you will only benefit from the price fluctuations of the asset, in an ideal situation, rather than actually owning it.
It is one of the rare exchanges that offer tokenized trading while being fully regulated. This is because tokenized trading is a risky form of trading since your assets are stored on a blockchain. This exchange provides security to your assets that are stored on the blockchain. The exchange offers over 1300 tokenized assets and plans to increase the amount to around 10,000. You can trade cryptocurrency pairs, shares, commodities, and government bonds with this exchange. This is a really interesting feature because government bonds are not a common asset that most exchanges support.
Cryptocurrency Exchanges
All the exchanges that I have traded with so far only allow users to trade with fiat for other assets. So, if you have a good amount of cryptocurrency, you will not be able to use it in other trades. This sometimes hinders the trading process because you may profit more by trading with cryptocurrencies than with fiat in some cases.
Currency.com allows you to trade with other assets using cryptocurrencies. This means that you are free from the struggle of converting your crypto to fiat before investing it. In addition to taking extra time, you also had to compromise on the amount you could invest due to conversion charges. If you invest using cryptocurrencies, then the profits that you make will also be in this form. So, you can invest cryptocurrencies in any asset that you like if you hold any cryptocurrencies in your account. Currency.com supports Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and Tether.
The exchange has provided a good initiative to bridge the gap between the finance market and the crypto market. With this exchange, traders have the option to trade within both markets using the currency of their choice.
Powerful Trading Platform
Currency.com aims to bridge the gap between the markets of crypto trading and finance. Its platform is designed to provide you with the best trading conditions for both markets. It enables fast and quick trade of various global financial instruments.
The exchange provides two versions of trading platforms to accommodate you. The first is the web trader platform which has been tastefully designed with a great UX base. The website is user-friendly and interactive. The interface of the platform provides real-time charts of market prices. The trade tools that are provided by the platform have easy access and are simple and effective to use during trades. You will not have to spend a lot of your valuable time to get used to the services of the website as is an intuitive platform. Since currency.com provides a variety of new services that a lot of exchanges don’t, I expected the web trader to be packed and complicated to use. However, I found that while many features are provided for the trader’s assistance, the flexible UX design of the trading platform is very easy to use.
This exchange also offers a version of a mobile application for the trading platform. These apps are compatible with Android as well as with the Apple iOS software. You can easily purchase, store cryptocurrencies, and invest with cryptocurrencies using these apps. This is a useful feature for those who prefer to trade using their phones or are traveling.
Excellent Security System
Ever since this exchange came to the market, many traders have been doubtful of the security system it offers. Tokenized trading involves a lot of risks because the tokens are stored on blockchains which are public records. Furthermore, there are many security concerns whenever you consider signing up with a exchange. The security features of currency.com ensure high-class protection for all the user’s information and accounts.
To start with, the exchange offers multilayered security features that include 2 Factor Authorization (2FA), and instant information and data encryption. Furthermore, the exchange is fully regulated and is compliant with the KCY and AML policies. You may find the requirements of multiple identity proofs at various stages to be an inconvenience, but the firm is already working on methods to turn it into a completely decentralized firm.
Final Thoughts
Currency.com is a fairly new firm in the market as it was only released in 2019. However, in a short period, it has impressed many traders worldwide. It offers various features that are unique to currency.com and also provides great services for the traditional exchange features.
Now that you have read about some of the services this exchange offers, what do you think? Will you consider trying out this exchange? I would suggest that you visit the exchange’s website to research its features before you decide on anything.
Author Bio: Jonathan is a forex trader and investor in digital currency. It has been more than 5 years of working in Forex Market. Jonathan has seen many ups and downs in stocks and shares. He believes, forex trading is the best business option.
Note: The article is written by external authors. The BusinessFinanceArticles.org’s admin/editor or authors has no contribution to it. All information is published for informational purposes. We are not responsible for any risks associated with any business.
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