Even though the first cryptocurrency was introduced in 2009, there has been a lot of doubts and concerns surrounding this virtual currency.
Initially, it had been used for illegal activities because it granted anonymity to the users and was not governed by any central authority. This made it a doubtful investment for people because it was highly volatile and it was extremely difficult to predict its movements.
As the digital world continued to evolve, people began understanding the role of cryptocurrencies and they gained some traction. But, it wasn’t until the end of 2017 that these digital assets really stepped into the limelight.
This was when cryptocurrencies like Bitcoin saw a massive increase in their prices. One Bitcoin became equal to a whopping $20,000 and those who had been smart enough to invest in this crypto were able to earn millions within a week.
This prompted thousands of people around the world to take an interest in cryptocurrencies and they finally saw their potential.
Today, the market has become quite advanced and there are numerous other cryptocurrencies that can be found. To start trading them, you require a cryptocurrency exchange and a number of them have been established to accommodate people.
The problem is that not all of these crypto exchanges are reliable and can provide the proper services. Several of the prominent cryptocurrency exchanges were hacked and their users had to deal with a loss of their sensitive data and their assets were also stolen.
Likewise, some exchanges have very difficult and inflexible policies, which can create a huge problem for traders. There are also cryptocurrency exchanges that are difficult to use and don’t cater all kinds of traders.
Moreover, the lack of a regulatory background has also proven to be a major impediment in the adoption of cryptocurrencies globally due to which people are in search of a regulated environment for trading these digital currencies.
The good news is that there is a solution to all these problems and that is Currency.com. This is a tokenized securities platform that has been developed for trading and exchanging cryptocurrencies and tokenized assets.
The main goal of this platform was to give crypto investors access to traditional finance and commodities markets. Therefore, the exchange has made use of advanced technology for developing an intuitive platform that can be used for trading.
An Introduction to Currency.com
Currency.com was founded in 2019 and it brought the cryptocurrency community a step closer to global mainstream adoption. Cryptocurrencies have had to put up with cynical distrust and numerous crackdowns all over the world due to their lack of regulation.
The introduction of this platform was meant to provide a regulatory backbone for trading cryptocurrencies. Whether you are a retail or institutional investor and want to expand your crypto holdings to own tokenized securities on stocks, indices, shares and commodities can now use Currency.com to do so.
The platform has been designed to allow investors who have Bitcoin, Ethereum and Litecoin to directly expand their portfolio by trading shares of renowned companies and brands or invest in various commodities like metals and energies without having to exchange their crypto for fiat currencies.
Owned and operated by Currency.com BCL LLC, the headquarters of the crypto exchange are located in Minsk, Belarus and their team have a wealth of experience and knowledge relating to this industry.
Also, to expand the reach of their platform all over the world, they have also set up offices in Gibraltar and the United Kingdom.
Even though Currency.com is still a relatively new platform, it has already had more than 5,000 registrations and its portfolio has already made transactions of more than $20 million.
The platform has made full use of the transparent nature of Blockchain technology by integrating it into its system and adding a layer of virtual and physical security.
Since it is an innovative and advanced system, the bulk of the exchange’s research and activities are focused on promoting financial including by paving the way for remote trading.
Along with their desktop trading platform, Currency.com has also come up with a mobile app that is designed to be compatible with different operating systems to allow people to trade globally from any location.
Like any other innovative cryptocurrency exchange, the platform wants to provide its traders and investors access to a wide variety of instruments. Currently, there are 1,300 tokenized assets that can be traded on this platform, but their aim is to increase this number to 10,000 in the future.
How is Currency.com Different?
There was no doubt that there had been an increase in crypto projects and ICOs, but the overall adoption of cryptocurrencies, in the long run, was still threatened because of the inherent risks.
Thus, it was not a surprise to know that the existing traditional financial market and the cryptocurrency markets were disconnected.
In addition, there was little or no direct trade between traditional financial assets and crypto and even commodities remained limited because there was no middle ground for regulating or for fiat currencies.
To put it simply, Currency.com exchange was the answer to all these problems as the company came up with a platform for fostering a stronger connection between crypto-assets and traditional financial instruments. This meant that institutional investors and crypto traders who wanted to diversify their portfolio could now directly trade their crypto assets for securities on stocks, indices, commodities and bonds without having to go through the hassle of converting crypto into fiat currencies.
Also, Currency.com could provide cryptocurrency investors with stability in the face of the constant volatility that they had to deal with in the market.
It is different from the rest of the exchanges in the market because it is the first one that’s actually a regulated European platform and the first one to be legalized for offering regulated tokenized securities for trading.
Considering the scalability issues that people have to face in traditional financial systems, the blockchain-based service of Currency.com enables them to execute their transactions quickly and while maintaining full transparency.
The tokens that are available at Currency.com allow people to invest in the top global markets with fiat currencies or cryptocurrencies as their collateral.
An Array of Tokenized Securities
Securities refer to assets that can be exchanged at a future date for a specific value. These range from commodities like gold, indices and shares of different companies.
These are also subject to regulatory measures in every jurisdiction and are a kind of investment that provide a degree of stability to the investors.
This form of investment is kicked up a notch in the form of tokenized securities because they offer traders and investors the option of programmable securities. This means that blockchain technology is used for the transfer of these securities and this gives traditional investors the opportunity of expanding their trading portfolio.
When crypto traders sign up with Currency.com, they have the opportunity to take advantage of the dynamics of the movements in the price of financial assets without having to exchange them.
As mentioned earlier, there are 1300 tokenized securities available for now, but the number will eventually reach 10,000. The tokens that are listed are according to the prices of the underlying assets, depending on what assets you wish to trade.
You can find shares of the top companies in the market, such as Coca-Cola, Apple, Amazon and Tesla, indices like Nasdaq 100 and S&P500 and commodities like gold, silver and Brent crude oil are also available.
You can also find government bonds on Currency.com, but for now, only Belarusian government bonds are available. The market dynamics determine the trading of these security tokens on the exchange.
When you open a trading position, you can track and monitor the price movement of a token according to the movement of the underlying asset in the market. The platform uses digital ledger technology to enable every crypto trader to trade directly without having to go through the hassle of converting their assets into fiat currencies. They can get access to smart assets and any investor having BTC or ETH could easily invest their money in a diverse range of financial trading instruments.
Security Features and Measures
The security of a cryptocurrency exchange is paramount because there have been numerous incidents of them being hacked or compromised, resulting in heavy losses.
A lack of security can be extremely stressful for investors and traders and keeping that in mind, Currency.com has made use of state-of-the-art technology for providing security to their clients, both of their funds and of their information. The servers of the platform are located at the LD4 data center and they have equipped it with a complete video surveillance system for round-the-clock monitoring.
To add another layer of security, the platform has implemented two-factor (2FA) authentication, IP addresses and API keys for sorting through most likely security threats.
Furthermore, since Currency.com is a regulated platform, they have developed their security system to be compliant with international PCI/DSS payments systems in order to maintain their standard. It should also be noted that their system has also been verified by the Belarusian High Technology Park and it is one of the most renowned European blockchain regulator.
As mentioned before, digital trading comes with a measure of risk, particularly considering the security breaches that have happened at various crypto exchanges and trading platforms.
Therefore, Currency.com has tried to guarantee the privacy of their clients by providing them the highest encryption standards. Moving onto the security of funds, the platform has made use of both hot and cold wallet services. For its cold wallet, the exchange has opted for PGP/GPG-enabled encryption and this needs keys and a multi-signature procedure for transactions to be made.
Even though the crypto exchange currently supports BTC and ETH, it has made use of technology that enables interaction with the blockchain of these cryptocurrencies.
As far as its hot wallet service is concerned, Currency.com has provided fast execution of trades as compared to other platforms and they only use it for keeping 3% to 5% of the assets. It should be noted that using these wallets need a number of authorized signatures for ensuring security and protection of funds.
Being the first European regulated tokenized securities exchange, Currency.com has to comply with the Belarusian 8th degree relating to Digital Economy Development legislation.
It is also reassuring to know that the cryptocurrency exchange is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, along with the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. As part of these regulations, the exchange has to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) policies that are aimed at protecting clients and for upholding all regulatory obligations.
In order to register and start trading with Currency.com, clients have to provide their identification and also give proof of their residence. Proof of identity is submitted in the form of a government-issued identity card, passport or even a driver’s license. This confirms the identity and next, proof of address is needed. This can be done by providing any utility bill, whether it is electricity, water or gas, or a bank statement with the address on it.
Neither of these documents should be more than 3 months old. In accordance with KYC and other user security policies, the exchange collects data on the IP addresses of their clients for location-focused regulatory compliance, for determining the client’s economic profile, for their level of trading experience and education and their device ID.
Trading with Leverage
The biggest advantage of leverage trading is that it provides investors and traders with the ability to increase their trading position far beyond what is available to them at the time of trade.
This method allows investors and traders to expand their portfolio and maximize their profits as much as possible. With Currency.com, every trader can indulge in leverage trading, which means that even if you don’t have a lot of capital to invest, you can still open big trading positions.
The leverage starts at 1:10 and goes as high as 1:100, depending on the assets you are trading. If you want to trade cryptocurrencies on Currency.com, you will be given a leverage of 1:10 whereas the leverage is 1:20 if you are interested in trading tokenized shares and stocks.
As far as tokenized indices and commodities are concerned, the leverage available to you is as high as 1:100. This means that for every $1,000 in your account, you can trade up to $100,000.
As a platform that pushes for participation and trading in the global financial markets, Currency.com has added a wide array of banking methods to their platform for the convenience of their clients. They have developed such a system that it accepts cryptocurrencies for trading in case you don’t want to use fiat currencies.
This convenience is not available with most other trading platforms out there. It is extremely beneficial for crypto traders because it saves them from having to exchange their crypto for fiat before starting their trading journey.
Other than that, Currency.com allows its clients to accept payments through bank wire transfers and Visa and MasterCard. There are no commissions or fees applicable when you go with bank wire transfers for deposits, but the reflection in your accounts are subject to the banking service providers and the jurisdiction.
Trading Fee and Commissions
As compared to other cryptocurrency exchanges out there, you will notice that Currency.com has relatively lower transaction fees. When you sign up with this exchange, there are several different kinds of fees that you have to pay.
These include charges levied on withdrawals and deposits, as well as platform fees. The fees is charged according to the payment method you choose. The minimum deposit varies for every method, but the maximum deposit is the same across all of them i.e. $24,000.
Moreover, you will also be charged a maker fee for adding liquidity to the order books and taker fees for its removal. Even though the maker and taker fee may seem a bit high, but the overnight fee provides traders with the perfect opportunity for maximizing their profits.
The platform fee will depend on the instrument you are trading on Currency.com. The crypto maker and taker fee are -0.025% and 0.075% respectively. For tokenized assets like commodities, indices, shares and ETFs, the charges are 0.0125% and for tokenized currencies, they are 0.002%. These are all trading fees and the exchange fee are different.
Restrictions on Trading Districts
It is true that Currency.com was launched as a global platform for connecting the traditional financial markets and the crypto markets, but it is still expanding.
There are some countries where the exchange’s services are not available and these include Pakistan, The United States of America, The Bahamas, Zimbabwe, Cambodia, Democratic People’s Republic of Korea, Trinidad and Tobago, Iran, Botswana, Iceland, Panama, Ghana, Syria, Mongolia, Ethiopia, Yemen, Belgium, Syria and Sri Lanka.
User-Friendly Trading Platform
Even though the trading platform at Currency.com uses the most advanced technology, it is extremely easy to navigate and use, even for beginner traders. The platform provides app guides and different menus for smooth and simple trading and transition.
It is equipped with a ton of charting tools and indicators and even risk management features have also been incorporated for the convenience of traders.
A mobile app has been developed and it is available for both iOS and Android platforms. The account settings are also easy to master and traders can have a seamless trading experience with the platform.
Referral and Affiliate Program
An impressive feature of Currency.com is that it provides its clients with additional ways of supplementing their profits by using its programs for earning money.
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There is an affiliate program that you will find, which allows investors to partner with the exchange and bring other users to their platform. The revenue-sharing model is used in this program for helping clients earn as they are given 50% of the commission on trade by traders that are brought on by the affiliates.
The benefits of the referral program are extended for up to six months and investors are also given 12% discount on their trading commissions.
Moreover, the affiliate program also entitles its users to a sub-affiliate fee of 10%. In order to become part of the program, you have to register with Currency.com, log into your account and then get the referral and affiliate link.
Educational Insights and Resources
Being an intuitive platform, Currency.com is well-aware of the importance of education when trading cryptocurrencies and tokenized securities.
Therefore, they have put in a significant amount of effort to develop a learning platform for their clients that provides access to real-time and relevant information on its market dynamics and assets.
It boasts a well-integrated library that can assist clients of every experience level in accumulating necessary knowledge about trading, which can boost their chances of maximizing profits.
Robust Customer Support
The engagement of a cryptocurrency exchange is heavily dependent on the quality of its customer support system. Therefore, Currency.com has put a robust customer support system in place to make it easy for clients to transition to their trading platform.
Their staff is multilingual as they are facilitating clients from different parts of the world. You can get in touch with their agents in several ways and they are available 24/5 to provide assistance, when needed.
An email address is provided on the website, along with a phone number. The exchange has also added a live chat option to provide immediate help to the traders. Other than that, you can also find an FAQ section on the exchange’s website where they have given answers to questions that are often asked by investors.
Despite it being a new platform, it cannot be denied that Currency.com has become the pioneer in integrating the cryptocurrency market with traditional financial markets.
It is a regulated marketplace, which provides a number of assets for trading and a secure environment for facilitating all traders.