What is Switchere
About Switchere
Switchere is the easiest method to acquire Bitcoin, Litecoin, or Ethereum due to currency and also United States dollars together with the support of plastic or debit card games. Launched in the fall of 2019, it involves an instant exchange service based in Estonia.
Even though this is a relatively new market, the platform will previously realize its own perfectly cleaned theory – to be a comfortable gateway to exchange fiat money units into cryptocurrencies.
The practicality of purchase, certified procedures, and a large degree of security – look only certain advantages of choosing Switchere as the main site to buy cryptocurrencies.
How Switchere works
Switchere allows you to buy cryptocurrency with the support of a plastic or debit card game. In addition, it provides a chance to realize interchange among different supported cryptocurrencies. For example, you can exchange Bitcoin (BTC) for Ethereum (ETH).
Orders in Switchere work differently. By default, if you place an order, it directly lends you the location of your cryptocurrency wallet. Earlier already after that, as well as only you make a purchase, Switchere sends the cryptocurrency to this appearance wallet.
Most cryptocurrency exchanges store your cryptocurrencies in controlled wallets. Switchere provides you with a similar option, so you can choose to send your order to a Switchere wallet, but this market is not generally associated with accumulation.
Someone sells cryptocurrency because of you, and you try to save it, in case you do not want Switchere to hold it because of you.
You can buy an account and even start using Switchere, providing only the key information.
However, to spend more than 150$ in the exchange, you should argue your uniqueness. For the population of the United States of America, there is only one level of control. For this purpose, you should provide a photo of your identity card and selfies.
Switchere users from outside the United States of America also have all possibilities to realize cryptocurrency without exception and also to buy from its resources by bank transfer. Together with the target of North American consumers, bank transfers and also the realization of cryptocurrency is not envisaged at all.
Switchere Fees
Switchere Trading fees
The main service offered here is the purchase of ETH, LTC, BTC, XRP, EOS, or USDT20 together with the support of VISA or MasterCard or the mutual exchange of them friend to friend. In this way, there are no commissions due to the purchase or interchange. But there is a special commission due to the processing of transactions.
Payment due to processing is 3.60% due to any transaction. It is difficult to compare this commission with the trader’s commissions in simple concentrated exchanges, as this platform assumes more precisely a crypto store than a cryptocurrency trading platform.
But it is necessary to understand that in the usual according to the sphere trader commissions of concentrated exchanges for today formalize approximately 0.10%-0.15%.
Switchere Withdrawal fees
This market does not have any standard fees due to the removal of money, as the withdrawal component is considered as well as a component of the initial transaction.
At the same time, a special commission due to the use of blockchain in the amount of 0.0005 BTC is built into the transaction.
Taking this into account, I believe that to compare with other exchanges in our list of exchanges, it is more rational to define 0.0005 BTC as a commission due to the total amount of money charged by Switchere.
Deposit Methods
In this exchange, it is possible to buy cryptocurrency as well as together with the support of bank transfer, as well as together with the support of plastic card games.
According to the last facet, in case you have each of the banks of Vietnam, Thailand, Malaysia or Vietnam mentioned in the figure below. Since Switchere allows the expansion of the immeasurable in fiat currency, it is characterized equally as an “initial level market”.
Customer Support
Another significant superiority of Switchere is the help department. I was very surprised with how quickly they meet the problems – this is in such a case that other exchanges need to streamline to perfection.
In addition, this help desk operates around the clock, so that you can get support regardless of this or that period you intend to purchase bitcoins. Online chat is probably the quickest method to get in touch with them.
I did this on Saturday afternoon and also almost instantly acquired support from Yunus. Someone appeared quite competent regarding the service and also managed to answer our problems more correctly.
Mobile App
Unfortunately, nowadays period there is no Switchere mobile add-on, even though we tried it in a mobile browser and also it was responsive so that you can apply it to your phone, however, we would like them to make a complete mobile add-on to make the purchase of cryptocurrency in the process even easier and also instant.
Switchere Security
Period – the best security control and Switchere has a relatively insignificant situation of activity, for this reason, it is difficult to note to what extent it is not dangerous.
But one can be noted with full confidence – the site is made in such a way that it does not need to guarantee the safety of buyers’ money, which automatically limits the degree of notching with the purpose of users.
Most cryptocurrency exchanges require sending resources directly to the wallets of the exchange. But Switchere goes in the opposite direction – it sends resources directly to your wallet, and for this reason, the responsibility for their safety is entirely in you.
Along with no less, you can protect your account together with the support of two-factor verification (2FA) based on Google, which ensures that no person will not be able to acquire access to your account in case someone hacks your pass.
In addition, there is a role of mechanical exit from the concept, which by default creates in this case, regarding than indicates – introduces the user from the platform through ten minutes of doing nothing.
In the options of the account can change this meteorological parameter: 5 min. – the shortest interval, Sixty minutes. – the longest.
The platform itself uses SLL and TSL encryption, which means the data exchange between you and the exchange is done using the SHA-256 hash algorithm – the same one that secures the Bitcoin and Litecoin blockchains.
Switchere also uses the 3D secure protocol, which is the standard for securing online card payments.
Last but not least, Switchere is a regulated exchange, which means the platform is trustworthy. Unlike unregulated custodial exchanges, it can’t just disappear with your money or holdings, making it a reliable and trustworthy cryptocurrency gateway.
Conclusion
Thus, let’s summarize the result: Switchere is today’s market that charges wildly high commissions – up to 20%, which makes it almost unsuitable for use.
The market looks great and also functions well, and has good help, but all without exception these nuances will not allow you to use it if the commissions remain the same.
My committee – refrain from using Switchere and also use another instant exchange, such as Bitit, which is also very elementary in use, but charges many times fewer commissions than Switchere.
CXID improves UX by providing CEX users with ENS names
The cryptocurrency market strives to match the pace of implementation with traditional payment systems, betting on solutions that provide a hassle-free and intuitive user experience.
Although cryptocurrencies have such obvious advantages as decentralization, the ability to conduct transactions without borders at a low price and unsurpassed security, they have yet to catch up with traditional payment systems in terms of usability in order to achieve the same pace of implementation.
Some major cryptocurrency exchanges have improved their UX, but the market is still fragmented and difficult for novice users to navigate. Cryptocurrency users often have to manage multiple wallet addresses for each exchange separately.
One of the worst scenarios in this area is sending cryptocurrencies to the wrong address.
Although most cryptocurrency exchanges recommend users to copy an address with one click, some users can still select an address and skip a letter or number.
The problem is that cryptocurrency transactions are irreversible, so funds can be irretrievably lost.
Another problem is that some digital assets, such as stablecoins, are placed in multiple chains.
For example, USDT $1.00 it is hosted in several blockchain networks, including Ethereum, BNB Smart Chain, Tron, etc. Sending such tokens by mistake to the wrong chain can also lead to loss of funds.
Every time a cryptocurrency user has to send or receive cryptocurrency, he is forced to double-check the wallet address and may experience stress until the transaction is completed.
These problems need to be solved in order for crypto assets to become suitable for everyday operations.
This platform offers improved crypto UX by facilitating payments to exchange wallets
Despite the fact that the cryptocurrency market is still fragmented, there are platforms integrated with most major exchanges, which allows you to improve the user experience and reduce the risk of losing funds.
One example is CXID, an open banking system for cryptocurrency exchanges. The application allows users of centralized exchanges (CEX) to transfer crypto assets without having to copy and paste wallet addresses.
CXID allows users of centralized exchanges (CEXs) to accept deposits and withdraw funds without having to copy and paste wallet addresses. With the help of CXID, users can convert their individual exchange user names into valid ENS names.
This integration allows for seamless payments between third-party exchanges and wallets using simple ENS names.
The purpose of CXID is to create an infrastructure that ensures secure and uninterrupted transactions between CEX exchanges in order to improve the experience with cryptocurrencies and Web3.
This can be a catalyst for the introduction of cryptocurrencies, given that large CEX accounts for the bulk of cryptocurrency transactions and they are the first point of contact for most newcomers.
With the help of CXID, users can easily receive payments, deposit and withdraw funds from external exchanges and Defi wallets without resorting to complex wallet addresses, and all this using a user-friendly interface.
This integration is carried out according to a standard scheme, similar to how identification protocols such as ENS and unstoppable domains integrate with third-party services using data about the chain. In this case, CXID receives data directly from the exchange and ENS via the API.
To provide direct withdrawal of funds to other third-party exchanges, it is enough for the exchange to enable integration with ENS for withdrawal of funds.
Simply put, CXID integrates with ENS to convert exchange user names into valid ENS names, providing exchanges with this functionality at a reduced price.
CXID is in the process of adding new cryptocurrency exchanges that can easily integrate its API for an affordable fee.
Thanks to its UX-oriented approach, CXID not only provides a safer and easier way to transfer cryptocurrency funds, but also ensures compatibility, eliminating the current fragmentation in the cryptocurrency space.
What’s new about FTX cryptocurrency exchange
About 74% of $8.7B Owed by FTX to Customers was in Fiat and Stablecoin Funds
The bankrupt FTX cryptocurrency exchange owed its customers $8.7 billion – approximately 74%, or $6.4 billion, were misappropriated fiat currencies and stablecoins, according to a report published on Monday.
The new management of the bankrupt FTX crypto exchange filed a lawsuit against the former director of compliance (CCO) Daniel Friedberg, claiming that he committed fraud and paid “secret money” so that employees and their lawyers would not disclose this fraudulent activity.
KEY TAKEAWAYS
- According to a new report by the FTX debtor management group, the bankrupt crypto exchange owed $8.7 billion in assets to customers.
- The vast majority of misappropriated assets, approximately $6.4 billion, are denominated either in fiat currency or in stablecoins.
- The report also reports that FTX and related debtors have already managed to recover assets worth about $ 7 billion, while the repayment process is still ongoing.
FTX’s Lawsuit Against Its Former CCO
The FTX statement contains numerous civil charges against Friedberg, accusing him of violating his legal duties, approving fraudulent transfers and providing loans to other former FTX executives.
During his time at FTX, Friedberg allegedly received significant compensation, including a salary of $300,000, a subscription bonus of $1.4 million, a separate cash bonus of $3 million, 8% of FTX US shares and cryptocurrency assets worth tens of millions of dollars as of 2020.
FTX is seeking to recover these assets through this lawsuit.
More specifically, the lawsuit alleges that Friedberg made payments to two unnamed potential informants, effectively silencing them and preventing disclosure of regulatory issues and close ties between FTX and the trading firm Alameda Research.
According to the FTX complaint, Friedberg acted as a “fixer” for co-founder and former CEO Sam Bankman-Fried. It is alleged that Bankman-Fried’s father advocated for Friedberg to play a central role in the organization.
In addition to his role as FTX’s chief executive officer, Friedberg was also the general counsel of Alameda.
The specific details of the payments made to the whistleblowers are not disclosed in the complaint.
However, one of the cases mentions the provision of an “emergency payment” of undisclosed value to a former employee named “Whistleblower-1”, who worked at FTX US for less than two months.
The settlement was a response to a demand letter alleging that Alameda served as an extension of FTX and was used to manipulate investor confidence and inflate project prices.
In addition, the lawsuit alleges that FTX signed an agreement to receive “general client advice” from whistleblower-1’s lawyers in the amount of $200,000 over five years, worth a total of $12 million, in an attempt to silence them.
FTX also claims that Friedberg fired a lawyer referred to as “whistleblower-2” who expressed concerns about governance and regulatory issues at Alameda.
This person received “severance pay, despite the fact that Whistleblower-2 worked at Alameda for less than three months,” which suggests that this is not uncommon, although the details of the package have been edited.
What Does This Mean for FTX Customers?
In the FTX Bankruptcy panel report, under the leadership of new CEO John J. Ray III, the second report on the financial condition of the exchange since its collapse in November last year, now shows the amount of debt owed by the bankrupt exchange to its customers – a staggering $8.7 billion.
During the investigation, cases of mixing and misuse of customer deposits were revealed, with about $6.4 billion of the amount due being appropriated in the form of fiat currency and stablecoins.
To date, $7 billion worth of liquid assets have been recovered, and efforts are currently being made to identify additional cases of return. However, the report also adds: “It is important to understand that this analysis is current, incomplete and subject to change.”
Fund Misuse and Comingling Was by Design
The report paints a pernicious picture of the company’s management and senior lawyers who knowingly mismanaged clients’ funds by engaging in deceptive actions such as document forgery and evading detection by moving FTX Group across various jurisdictions.
In particular, it turned out that FTX Group provided false information about the nature of the bank account of the associated trading firm Alameda Research, which was used to process customer funds.
In a statement, Ray, who is leading the recovery effort, stressed that FTX’s image as an industry leader focused on customers from the earliest stages was nothing more than a facade.
“It was no accident that senior FTX executives mixed up customer contributions and misused them,” Ray’s report says. “The exchange and misuse took place at their direction and according to their plan.”
The findings contained in the report were made after an initial audit conducted in April, which revealed various cases of improper activity under the supervision of founder and former CEO Sam Bankman -Fried, who is currently facing criminal charges, a trial for which is scheduled for October in New York.
Against the background of bankruptcy proceedings in Delaware, Ray has been working to settle the affairs of the exchange since its collapse in November.
There have been signs that FTTX activity may be resumed under the name FTHX 2.0, but the focus remains on resolving financial obligations and seeking damages to creditors.
CoinList cryptocurrency exchange
What is CoinList
CoinList is a cryptocurrency exchange and platform that connects investors with promising blockchain projects. It was founded in 2017 by a group of experienced entrepreneurs and cryptocurrency experts. CoinList aims to provide a secure and compliant platform for companies to raise funds through initial coin offerings (ICOs) and other token sales.
In addition to token sales, CoinList offers a suite of services for cryptocurrency investors, including access to early-stage investments, trading, and custody services. CoinList also provides a platform for developers to build and launch decentralized applications (dApps) on top of various blockchain networks.
CoinList is known for its rigorous selection process for the projects listed on its platform, which helps investors identify high-quality opportunities in the rapidly evolving cryptocurrency market. The platform has gained a reputation as a trusted source of information and investment opportunities in the cryptocurrency industry.
The history of CoinList
CoinList was founded in 2017 by Andy Bromberg, Graham Jenkin, and Brian Tubergen. The three co-founders had previously worked together at the cryptocurrency exchange Coinbase and saw an opportunity to create a platform that would help blockchain startups raise funds through initial coin offerings (ICOs) in a compliant and secure manner.
CoinList’s first major project was the Filecoin ICO, which raised $257 million in 2017. The success of the Filecoin ICO helped establish CoinList as a trusted platform for token sales and led to partnerships with other prominent blockchain projects, including Blockstack, Celo, and Solana.
In addition to token sales, CoinList has expanded its offerings to include a range of services for cryptocurrency investors and developers. These include access to early-stage investments, trading, custody services, and a platform for building and launching decentralized applications (dApps).
Since its founding, CoinList has raised over $10 million in funding from investors, including Polychain Capital, Digital Currency Group, and Libertus Capital. The platform has also grown to become a major player in the cryptocurrency industry, with over 450,000 users and more than $2 billion in token sales conducted on its platform.
How CoinList works
CoinList is a platform that connects investors with promising blockchain projects. Here’s how it works:
- Project selection: CoinList has a rigorous selection process for the projects listed on its platform. Projects must meet certain criteria, such as having a strong team, a clear roadmap, and a viable product or service.
- Token sales: Once a project is approved, it can launch a token sale on the CoinList platform. Investors can participate in the sale by buying tokens with fiat currency or cryptocurrency. CoinList uses a secure and compliant process to facilitate the sale and distribution of tokens to investors.
- Investment opportunities: CoinList also offers access to early-stage investments in blockchain projects. Accredited investors can participate in private sales and other investment opportunities through the CoinList platform.
- Trading and custody: CoinList provides a secure and reliable platform for trading cryptocurrencies. Users can buy, sell, and trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and other popular tokens. CoinList also offers custody services, which allow users to securely store their cryptocurrencies on the platform.
- Developer tools: CoinList provides a platform for developers to build and launch decentralized applications (dApps) on top of various blockchain networks. The platform includes a range of developer tools and resources to help developers build and deploy their applications.
Overall, CoinList aims to provide a secure and compliant platform for investors and developers to participate in the rapidly evolving cryptocurrency industry. The platform’s rigorous selection process and focus on compliance have helped establish it as a trusted source of information and investment opportunities in the blockchain space.
Can CoinList be trusted
CoinList has established itself as a trusted platform in the cryptocurrency industry. The company’s focus on compliance, security, and transparency has helped it gain the trust of investors, developers, and blockchain projects alike. Here are some reasons why CoinList can be trusted:
- Compliance: CoinList is committed to compliance with relevant regulations, such as anti-money laundering (AML) and know your customer (KYC) requirements. The platform conducts thorough due diligence on projects before they are listed and token sales are conducted in a secure and compliant manner.
- Security: CoinList places a strong emphasis on security. The platform uses advanced security measures, such as multi-factor authentication and cold storage, to protect user funds and data. Additionally, CoinList partners with industry-leading security firms to conduct regular security audits and ensure that the platform remains secure.
- Reputation: CoinList has a strong reputation in the cryptocurrency industry. The platform has successfully facilitated several high-profile token sales and has built relationships with leading blockchain projects. Additionally, CoinList has received positive coverage in the media and has been recognized for its contributions to the blockchain ecosystem.
- User support: CoinList provides excellent user support, with a dedicated customer service team that is available to help users with any questions or issues they may have. The platform also provides a range of educational resources and tools to help users navigate the cryptocurrency industry.
Overall, CoinList can be trusted as a secure and reliable platform for investors and developers to participate in the cryptocurrency ecosystem. However, as with any investment platform, it is important to conduct your own due diligence and carefully consider the risks involved before investing.
Does CoinList charge a fee
Yes, CoinList charges fees for the services it provides. The fees vary depending on the specific service and can be different for different users, depending on their jurisdiction and other factors. Here are some examples of the fees that CoinList may charge:
- Token sale fees: CoinList charges a fee for projects that conduct token sales on its platform. The fee is typically a percentage of the funds raised during the sale, and may also include a flat fee.
- Trading fees: CoinList charges fees for trading cryptocurrencies on its platform. The fees are typically a percentage of the trade amount, and can vary depending on the specific cryptocurrency being traded.
- Custody fees: CoinList charges fees for storing cryptocurrencies on its platform. The fees are typically a percentage of the value of the assets being stored, and may also include a flat fee.
- Other fees: CoinList may charge other fees for services such as early-stage investments, developer tools, and other offerings.
It is important to note that the fees charged by CoinList are generally competitive with other cryptocurrency exchanges and investment platforms. However, users should carefully review the fee schedule and terms of service before using the platform to ensure that they understand the costs involved.
CoinSpot cryptocurrency exchange
What is CoinSpot
Located in Australia, CoinSpot is a cryptocurrency exchange. The user-friendly platform CoinSpot offers a number of features, such as sophisticated charting tools, quick deposits and withdrawals, and a mobile app for trading while on the go. A number of security measures are also available on the exchange, including two-factor authentication, email and SMS notifications, and cold storage for customer funds.
In general, CoinSpot is a reliable and trustworthy cryptocurrency exchange that gives Australians an easy method to access the markets for digital assets. Users should be aware of the dangers associated with trading and investing in digital assets, including the possibility of volatility and the risk of hacking or theft, as with any cryptocurrency exchange.
The history of CoinSpot
Russell Wilson and his group created the Australian cryptocurrency exchange CoinSpot in 2013. The website was developed to give Australians an easy way to buy and sell cryptocurrencies, and it has since developed into one of the most well-liked exchanges in the nation.
A wide variety of digital assets, including Ethereum, Litecoin, Ripple, and many others, are now supported by CoinSpot, which initially focused on trading Bitcoin. Over the years, the exchange has also added a number of features, such as sophisticated charting tools, a mobile app, and support for numerous payment options.
Security has always been a top priority for CoinSpot. The exchange uses a variety of security methods, like as two-factor authentication, cold storage for user funds, and recurring security audits, to safeguard customer cash.
At the first Australian Blockchain Industry Awards in 2017, CoinSpot was honoured as the Australian Digital Currency Exchange of the Year. Since then, the exchange has expanded its offerings and continues to grow, becoming one of Australia’s most well-known and reliable cryptocurrency exchanges.
How CoinSpot works
With the help of CoinSpot, customers may buy, sell, and trade a variety of digital assets. This is how it goes:
- By giving personal information and successfully completing the necessary verification steps, users must register for an account with CoinSpot. Proof of identification and address must be provided during this process.
- Purchase and sale of cryptocurrencies are then possible for users using the funds in their account.
- Trade cryptocurrencies: Trading pairs on CoinSpot allow users to exchange one digital asset for another in addition to buying and selling cryptocurrencies.
- Withdraw money: Users have the option of withdrawing money at any time from their CoinSpot accounts to their preferred cryptocurrency wallet or back to their bank account.
Additionally, CoinSpot provides a number of features to assist consumers in managing their cryptocurrency assets, including a mobile app, sophisticated charting tools, and price notifications. Along with features like two-factor authentication and cold storage for customer cash, the exchange places a high priority on security.
Can CoinSpot be trusted
In general, CoinSpot is regarded as a reliable and trustworthy cryptocurrency exchange. The platform, which has been in operation since 2013, has a solid reputation for offering its users a user-friendly interface, a large selection of digital assets, and a high level of security.
The fees at CoinSpot are likewise openly disclosed, and they are generally competitive with those at other cryptocurrency exchanges. The exchange does not impose any additional fees or commissions that are not disclosed on its website.
However, utilising CoinSpot carries dangers, just like using any other cryptocurrency exchange. Users should be ready to lose all or part of their investment because cryptocurrencies are quite volatile and their value can change quickly. Furthermore, there is always a chance of theft or hacking, so users should take precautions to safeguard their accounts and money.
Does CoinSpot charge a fee
For its services, CoinSpot does indeed charge a fee. The exchange charges commissions for trading between different digital assets as well as for buying and selling bitcoins.
The CoinSpot fees are dependent on the particular cryptocurrency and payment method used, the volume of the transaction, and other factors. For purchasing and selling cryptocurrencies, CoinSpot typically levies a percentage-based fee that ranges from 0.1% to 1%. Additionally, the exchange levies a 0.1% fee for trading between various digital assets.
Depending on the chosen payment method, CoinSpot may potentially charge fees for deposits and withdrawals. For instance, whereas deposits made using POLi and PayID are normally free, deposits made using BPAY could incur a minimal fee. Depending on the particular cryptocurrency and the magnitude of the transaction, withdrawals might potentially incur fees.
CoinSpot is open and honest about its fees, and its website includes comprehensive details about the costs associated with each transaction. On the CoinSpot website, users may also view the most recent fee schedule for each coin.
Overall, while CoinSpot does charge fees for its services, these fees are openly published on the platform and are often competitive with those charged by other cryptocurrency exchanges.
ErisX US-based cryptocurrency exchange
What is ErisX
ErisX is a US-based cryptocurrency exchange and clearinghouse that provides trading and settlement services for digital assets. It was founded in 2018 and is regulated by the Commodity Futures Trading Commission (CFTC).
ErisX offers trading in Bitcoin, Bitcoin Cash, Ethereum, and Litecoin futures contracts. It also provides spot trading for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as trading for stablecoins like USDC and Paxos Standard.
The exchange offers a range of order types, including market, limit, and stop orders. ErisX also provides an API for institutional clients to access its trading and clearing services.
ErisX has partnered with various financial institutions and companies, including Fidelity Investments, TradeStation, and Bitmain, to provide its customers with a reliable and secure platform for trading digital assets.
The history of ErisX
ErisX was founded in 2018 by a team of financial industry veterans with experience in traditional markets and digital assets. The company was formed with the goal of providing a regulated and secure platform for trading digital assets, which at the time were still considered to be a nascent and risky asset class.
In April 2018, ErisX announced that it had raised $27.5 million in a funding round led by Fidelity Investments. Other investors included Nasdaq Ventures, DRW Venture Capital, Valor Equity Partners, and CTC Group Investments.
In December 2018, ErisX received approval from the Commodity Futures Trading Commission (CFTC) to operate as a regulated derivatives exchange and clearinghouse for digital assets. This made ErisX one of the first companies to receive regulatory approval to offer physically delivered bitcoin futures contracts in the United States.
In April 2019, ErisX announced that it had acquired the technology assets of DCM Capital, a cryptocurrency exchange and brokerage firm. This acquisition enabled ErisX to expand its product offerings and provide its customers with access to spot trading for digital assets in addition to its existing futures trading products.
Since its launch, ErisX has continued to expand its partnerships and product offerings, including adding support for Ethereum and Litecoin futures contracts in 2019. The company has also established partnerships with companies such as TradeStation and Bitmain to provide its customers with a reliable and secure platform for trading digital assets.
How ErisX works
ErisX is a regulated cryptocurrency exchange and clearinghouse that allows customers to trade digital assets such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Here’s how ErisX works:
- Account Setup: To trade on ErisX, customers must first create an account and provide personal information to comply with regulatory requirements. This includes providing government-issued identification, such as a passport or driver’s license.
- Funding: Once an account is created, customers can fund their accounts using either cryptocurrencies or fiat currency. ErisX supports several cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as stablecoins like USDC and Paxos Standard. ErisX also supports funding via bank wire transfer.
- Trading: After funding their account, customers can begin trading on ErisX. ErisX offers both spot trading and futures trading for digital assets. Spot trading allows customers to buy and sell digital assets at the current market price, while futures trading allows customers to enter into contracts to buy or sell digital assets at a future date.
- Clearing and Settlement: ErisX acts as a clearinghouse for all trades made on its platform. This means that ErisX matches buyers and sellers, and also handles the clearing and settlement of trades. ErisX uses a combination of off-chain and on-chain settlement processes to ensure the security and reliability of its platform.
- Withdrawals: Customers can withdraw their digital assets or fiat currency from ErisX at any time. Withdrawals are typically processed within a few business days, depending on the withdrawal method chosen.
Overall, ErisX provides a regulated and secure platform for customers to trade digital assets. Its combination of spot trading and futures trading products, along with its clearing and settlement services, make it an attractive option for both retail and institutional customers.
Can ErisX be trusted
ErisX is a regulated cryptocurrency exchange and clearinghouse that is subject to oversight by the Commodity Futures Trading Commission (CFTC), which is a U.S. government agency that regulates commodity futures and options markets in the United States. The fact that ErisX is regulated by the CFTC means that it must comply with strict rules and regulations designed to protect customers and ensure the integrity of the markets.
In addition to being regulated, ErisX has implemented a number of security measures to protect customer funds and data. These measures include:
- Cold Storage: The majority of customer funds are held in cold storage, which means that they are stored offline and are therefore less vulnerable to hacking or other cyber attacks.
- Two-Factor Authentication: ErisX requires customers to use two-factor authentication to access their accounts, which provides an additional layer of security against unauthorized access.
- Regular Audits: ErisX undergoes regular audits by third-party firms to ensure that its systems and processes are secure and compliant with regulatory requirements.
- Insurance Coverage: ErisX has secured insurance coverage for its custodial holdings, which provides additional protection for customer funds in the event of a security breach or other loss.
Overall, ErisX appears to be a trustworthy cryptocurrency exchange and clearinghouse that is committed to providing a secure and regulated platform for trading digital assets. However, as with any financial service, customers should always conduct their own due diligence and be aware of the risks involved with trading cryptocurrencies.
Does ErisX charge a fee
Yes, ErisX charges fees for trading on its platform. The specific fees charged by ErisX depend on the type of trading and the volume of trades made. Here are some examples of the fees charged by ErisX:
- Futures Trading: ErisX charges a trading fee of 0.075% for Bitcoin futures trades and 0.10% for Ethereum and Litecoin futures trades. This fee is charged on both the buyer and seller side of the trade.
- Spot Trading: ErisX charges a trading fee of 0.10% for all spot trades. This fee is charged on both the buyer and seller side of the trade.
- Withdrawal Fees: ErisX does not charge a fee for withdrawing cryptocurrency from its platform. However, there may be fees associated with the specific cryptocurrency being withdrawn. ErisX charges a $15 fee for bank wire withdrawals.
- Other Fees: ErisX may charge other fees, such as fees for account maintenance, margin requirements, or other services. These fees can vary depending on the specific service provided and are subject to change.
It’s worth noting that ErisX’s fee structure is designed to be competitive with other cryptocurrency exchanges and clearinghouses. Customers should always check the current fee schedule on the ErisX website before trading to ensure that they are aware of any fees that may apply.
BitKan cryptocurrency platform
What is BitKan
BitKan is a cryptocurrency platform that provides tools and services for trading, managing, and tracking cryptocurrency investments. It was founded in 2013 and is headquartered in Hong Kong. BitKan provides users with access to market analysis and trading data, as well as a community of traders and investors.
In addition, BitKan offers a cryptocurrency wallet that supports multiple cryptocurrencies and enables users to easily send and receive funds. Overall, BitKan is a comprehensive platform for cryptocurrency investors, offering a range of tools and services to help them manage their investments effectively.
The history of BitKan
BitKan was founded in 2013 by a team of cryptocurrency enthusiasts led by co-founder and CEO, Leon Liu. The company started as a bitcoin price-tracking platform, providing real-time price updates for users.
Over time, BitKan expanded its offerings to include a broader range of services for cryptocurrency traders and investors. In 2016, the company launched a mobile app that allowed users to track prices, view market data, and manage their portfolios on the go.
In 2019, BitKan announced that it had raised $10 million in a funding round led by South Korean blockchain investment firm Hashed. The funding was used to further develop the platform and expand its offerings.
In recent years, BitKan has continued to innovate and expand its services. The platform has added support for new cryptocurrencies, such as bitcoin cash and EOS, and has launched new features, such as trading signals and a social trading platform.
Today, BitKan is one of the leading cryptocurrency platforms in Asia, with a user base that spans the globe. The platform is known for its user-friendly interface, comprehensive suite of tools and services, and commitment to security and privacy.
How BitKan works
BitKan is a cryptocurrency platform that provides a range of tools and services for cryptocurrency traders and investors. Here’s how it works:
- Price tracking: BitKan allows users to track the prices of over 2,000 cryptocurrencies in real-time. Users can set price alerts to receive notifications when a particular cryptocurrency reaches a certain price.
- News aggregation: BitKan aggregates news from multiple sources to provide users with up-to-date information about the cryptocurrency markets. The platform also provides market analysis and insights to help users make informed investment decisions.
- Trading signals: BitKan provides trading signals that use advanced algorithms to analyze market data and identify potential trading opportunities. Users can receive alerts when a trading signal is triggered, and can use the information to make trades on the BitKan exchange.
- Portfolio management: BitKan allows users to track their cryptocurrency portfolios and view their performance over time. Users can also set up custom watchlists to monitor specific cryptocurrencies.
- Cryptocurrency exchange: BitKan operates a cryptocurrency exchange that allows users to trade a variety of cryptocurrencies. The exchange offers a user-friendly interface and supports multiple trading pairs.
- Mobile app: BitKan has a mobile app that is available for both iOS and Android devices. The app allows users to access all of BitKan’s features, including price tracking, news aggregation, trading signals, and portfolio management, on the go.
Can BitKan be trusted
A trustworthy and reputable cryptocurrency platform, BitKan has been in operation since 2013. The platform is used by a sizable and engaged user community, and it has a solid reputation for offering trustworthy tools and services for cryptocurrency traders and investors.
BitKan has put in place a number of safeguards to protect user funds and data since it takes security and privacy seriously. The platform protects user accounts and transactions using two-factor authentication (2FA) and multi-signature technology, and it keeps the majority of user funds in cold storage, which is not connected to the internet and is therefore less susceptible to hacking.
Additionally, BitKan has a committed customer support team that is ready to help users with any problems or challenges they may be experiencing. In order to make sure that the platform’s security procedures are efficient and current, it has also been evaluated by outside security companies.
Overall, BitKan can be regarded as a reliable exchange and investing platform for cryptocurrencies. Users must, however, exercise caution to safeguard their funds and personal information, as with any cryptocurrency network. This include creating secure passwords, turning on 2FA, and keeping private information private.
Does BitKan charge a fee
Yes, BitKan charges fees for its services related to cryptocurrency exchange. The costs change based on the type of transaction and the amount of trade.
For each deal made on its exchange, BitKan, for instance, levies a maker fee and a taker fee. When a user adds liquidity to the order book by submitting a limit order that is not immediately filled, they are charged a maker fee; when they remove liquidity from the order book by submitting a market order that is submitted promptly, they are charged a taker fee.
On BitKan’s exchange, maker and taker fees are equally determined by the user’s trading volume over the previous 30 days. A user’s fees will decrease the more they trade. The pricing structure of BitKan is set up to reward high-volume traders while yet offering affordable rates to smaller traders.
BitKan may impose fees for other services such as bitcoin withdrawals or deposits in addition to trading commissions. Depending on the cryptocurrency being used and the size of the transaction, these costs may change.
BitKan offers a straightforward price structure to enable consumers understand the expenses involved with their trades and transactions, and overall, its rates are competitive with those of other cryptocurrency exchanges.
HitBTC cryptocurrency exchange
What is HitBTC
Users of HitBTC can trade a variety of digital assets, including Bitcoin, Ethereum, and other alternative cryptocurrencies. It was established in 2013 by a group of seasoned traders, programmers, and financial experts and has since grown to become one of the biggest and most well-known cryptocurrency exchanges on the planet.
HitBTC is a well-liked option for both amateur and experienced cryptocurrency traders due to its high liquidity and minimal trading costs. However, it’s crucial to remember that trading cryptocurrencies carries a high level of risk, therefore consumers should always conduct their own research and use caution while using any platform.
The history of HitBTC
A group of seasoned traders, programmers, and financial experts created HitBTC in 2013. A professional-grade cryptocurrency trading platform with cutting-edge tools and features, strong liquidity, and affordable trading costs was the company’s primary focus when it was founded.
HitBTC initially concentrated on providing Bitcoin and a few other well-known cryptocurrencies. But as the platform gained popularity, it started to include support for a variety of digital assets, such as Ethereum, Litecoin, Ripple, and numerous more cryptocurrencies.
HitBTC has progressively increased the services and products it offers. The business introduced its API in 2015, enabling programmers to create unique trading bots and other applications on top of the HitBTC platform. HitBTC was the first exchange to launch a tiered fee structure in 2016, enabling high-volume traders to pay less each deal.
HitBTC introduced margin trading in 2017, enabling users to enhance their trading positions by borrowing money.
How HitBTC works
Here’s how the platform works:
- Creation of an account: Before using HitBTC, users must first register for an account on the service. Giving some basic personal information and completing a verification check are required for this process.
- Deposits: After creating an account, users can add money to their HitBTC balance. Users can deposit money in the currency of their choice on the platform because it accepts both cryptocurrency and fiat currencies.
- Trading: Users may begin trading on the site after making a deposit of monies. With the large selection of trading pairings available on HitBTC, users can exchange one cryptocurrency for another or trade their holdings for fiat money.
- Limit orders, stop orders, and margin trading are just a few of the sophisticated trading tools and features HitBTC provides. These tools enable users to expand their trading positions, set precise price targets, and automate their trades.
- Withdrawals: Users who have profited from their trading may take their money out of the platform. HitBTC makes it simple for users to collect their gains by allowing withdrawals in both fiat money and cryptocurrencies.
In general, HitBTC is created to offer users a safe, dependable, and easy-to-use platform for purchasing and trading cryptocurrencies. Both amateur and experienced cryptocurrency traders choose the platform because of its sophisticated trading features and inexpensive trading fees.
Can HitBTC be trusted
A reputable cryptocurrency exchange that has been in business since 2013 is called HitBTC. The platform boasts a sizable user base of both amateur and experienced cryptocurrency traders and is well renowned for its cutting-edge trading tools, strong liquidity, and low trading fees.
However, HitBTC is not immune to security lapses or other problems, like any other cryptocurrency exchange. Users have reportedly had issues in the past with deposits, withdrawals, and other features of the platform. The customer service and communication offered by the platform has also drawn criticism from some consumers.
Overall, HitBTC is a reliable cryptocurrency exchange that provides a large selection of trading pairs, cutting-edge trading tools, and affordable trading costs. Before utilizing any cryptocurrency exchange, customers should always use caution and conduct their own research because the sector is still mainly unregulated and high-risk.
Does HitBTC charge a fee
Yes, all transactions performed on HitBTC’s platform are subject to trading fees. Fees range from 0.1% to 0.2%, depending on the user’s trading volume over a 30-day period. The cost structure is based on a tiered approach.
Trading costs go less the more a user trades on the site. Users who transact more than 600 BTC per month, for instance, are eligible for a 0.1% trading cost, whereas those who transact less than 50 BTC per month must pay a 0.2% fee.
Since HitBTC’s trading fees are generally lower than those of other cryptocurrency exchanges, it is a popular option for traders trying to keep their trading expenses to a minimum. Users should always be aware of the costs they’re paying and how they’re affecting their profits because fees can quickly build up, especially for frequent traders.
Liquid cryptocurrency exchange and trading platform
What is Liquid
The term “Liquid” refers to Liquid.com, a cryptocurrency exchange and trading platform. It was introduced in 2018 by a Japanese blockchain firm called Quoine with the intention of giving consumers and institutions a safe and effective way to purchase and sell a variety of cryptocurrencies.
Spot trading, margin trading, futures trading, and lending are just a few of the services that Liquid.com provides. Additionally, it offers a cryptocurrency wallet for storing digital assets as well as a variety of analytical tools and trading tools to support users in making smart trading choices.
The great liquidity, quick transaction times, and inexpensive trading costs of liquid.com are well known. Also, a variety of trading pairs, such as fiat-to-crypto and crypto-to-crypto pairs, are available, making it simple for users to purchase and sell cryptocurrencies.
Liquid.com is a well-known cryptocurrency exchange and trading platform that provides a variety of features and services to fulfill the needs of both inexperienced and seasoned cryptocurrency traders.
The history of Liquid
The cryptocurrency trading and exchange platform Liquid was introduced in 2018 by the Japanese blockchain firm Quoine. Mike Kayamori and Mario Gomez-Lozada established the business in 2014 with the initial goal of creating a blockchain-based platform for forex traders.
Quoine held an initial coin offering (ICO) in 2017 to acquire money for the creation of its platform for trading cryptocurrencies. One of the biggest initial coin offerings (ICOs) at the time, the ICO raised over $100 million.
Liquid.com, a cryptocurrency exchange and trading platform that provides a variety of services such spot trading, margin trading, futures trading, and lending, was officially launched by Quoine in September 2018. High liquidity, quick transaction times, and inexpensive trading costs are hallmarks of the platform.
Since its debut, Liquid.com has developed and increased the range of products it offers. Liquid Infinity, a tool that enables users to trade perpetual contracts with up to 100x leverage, was introduced by the company in 2019. Later that year, Liquid Pro, a mobile trading program that enables users to trade cryptocurrencies while on the go, was also released.
Liquid.com, a cryptocurrency exchange and trading platform that provides a variety of services such spot trading, margin trading, futures trading, and lending, was officially launched by Quoine in September 2018. High liquidity, quick transaction times, and inexpensive trading costs are hallmarks of the platform.
Since its debut, Liquid.com has developed and increased the range of products it offers. Liquid Infinity, a tool that enables users to trade perpetual contracts with up to 100x leverage, was introduced by the company in 2019. Later that year, Liquid Pro, a mobile trading program that enables users to trade cryptocurrencies while on the go, was also released.
How Liquid works
Here’s how it works:
- To use Liquid, users must first sign up and create an account on the platform. This involves providing some personal information and completing a verification process to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations.
- Once the account is set up, users can deposit funds into their account using a variety of payment methods, including bank transfers, credit/debit cards, and cryptocurrencies.
- With money in their account, users can use the platform’s different trading capabilities, such as spot trading, margin trading, and futures trading, to buy, sell, and trade cryptocurrencies. A variety of trading pairs are available on Liquid, including fiat-to-crypto and crypto-to-crypto pairs.
- When consumers are ready to withdraw their money after finishing their trades, they can do so by utilizing the same payment methods that they used to put money into their account in the first place.
Liquid also offers additional features and services, including a cryptocurrency wallet for storing digital assets, lending and borrowing services, and trading tools and analytics to help users make informed trading decisions. The platform is known for its high liquidity, fast transaction speeds, and low trading fees.
Does Liquid charge a fee
Liquid does really charge for its services. For several kinds of transactions, such as trading, deposits, and withdrawals, the platform levies fees. Depending on the type of transaction, the currency exchanged, and the user’s trading volume, the fee structure may change.
Depending on the user’s trading volume, Liquid assesses a trading fee for spot trading that ranges from 0% to 0.15%. Depending on the volume of trades and the amount of leverage applied, the trading cost for margin trading might range from 0.05% to 0.25% each day.
The use of the payment method will determine the deposit costs, and the currency and withdrawal amount will determine the withdrawal fees. Users should carefully check the fees before utilizing the platform to make sure they understand the costs associated. Liquid’s charge schedule may be seen on its website.
Comparing Liquid to other cryptocurrency exchanges, its cost structure is generally regarded as competitive, and the platform is renowned for its low trading fees and great liquidity.
Abra cryptocurrency exchange
What is Abra
Abra is a cryptocurrency exchange and digital wallet company that allows users to buy, sell, and store a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. The company was founded in 2014 and is headquartered in San Francisco, California.
Abra’s unique selling point is its ability to enable users to invest in multiple cryptocurrencies and traditional assets using a single platform. The platform also allows users to exchange cryptocurrencies with other users, as well as send and receive cryptocurrencies to and from external wallets.
In addition to its exchange and wallet services, Abra also offers its own native token, called ABRA. The ABRA token can be used to reduce trading fees and access premium features on the platform.
Abra has received backing from prominent investors, including American Express Ventures, Arbor Ventures, and First Round Capital, among others. The company has also formed partnerships with various financial institutions and payment providers to expand its reach and services.
The history of Abra
Abra was founded in 2014 by Bill Barhydt, a serial entrepreneur with experience in the finance and technology industries. Barhydt had previously worked at Goldman Sachs and Netscape, among other companies, and had also founded several startups.
The idea for Abra came about when Barhydt realized that many people around the world did not have access to traditional banking services, but did have access to smartphones. He saw an opportunity to use blockchain technology to create a global, decentralized banking platform that could serve the needs of these people.
Abra launched its app in 2015, allowing users to buy and sell Bitcoin using their mobile devices. Over time, the company added support for other cryptocurrencies, including Ethereum and Litecoin, as well as traditional assets like stocks and ETFs.
In 2016, Abra raised $14 million in a funding round led by Arbor Ventures and RRE Ventures, among others. The company also announced a partnership with American Express, which allowed users to fund their Abra wallets using American Express cards.
Since then, Abra has continued to expand its services, adding support for more cryptocurrencies and fiat currencies, as well as new features like peer-to-peer trading and interest-bearing accounts. In 2021, Abra announced that it would be launching its own native token, called ABRA, which would be used to reduce trading fees and access premium features on the platform.
Today, Abra is one of the most popular cryptocurrency exchanges and digital wallet providers, with millions of users around the world. The company is headquartered in San Francisco, California, and has a team of over 100 employees.
How Abra works
Abra is a cryptocurrency exchange and digital wallet that allows users to buy, sell, and store a variety of cryptocurrencies. Here’s how it works:
- Sign up for an Abra account: To use Abra, you’ll need to create an account on their website or mobile app. You’ll be asked to provide some basic personal information and to verify your identity.
- Fund your Abra wallet: Once you’ve created an account, you’ll need to fund your Abra wallet with cryptocurrency or fiat currency. Abra supports a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others, as well as several fiat currencies.
- Buy or sell cryptocurrencies: Once you’ve funded your Abra wallet, you can use the platform to buy or sell cryptocurrencies. Abra uses a peer-to-peer trading model, which means that you’ll be matched with other users who want to buy or sell the same cryptocurrency. Abra charges a small fee for each transaction.
- Store your cryptocurrencies: After you’ve bought cryptocurrencies on Abra, you can store them in your Abra wallet. Abra uses a non-custodial wallet model, which means that you control your private keys and are responsible for the security of your cryptocurrencies.
- Withdraw your cryptocurrencies: If you want to withdraw your cryptocurrencies from Abra, you can do so by transferring them to an external wallet or exchange. Abra charges a small fee for each withdrawal.
Overall, Abra is a user-friendly cryptocurrency exchange and digital wallet that allows users to buy, sell, and store cryptocurrencies easily and securely.
Does Abra charge a fee
Yes, Abra cryptocurrency exchange charges a fee for its services. The fees vary depending on the type of transaction and the cryptocurrency being traded. Here are some of the fees that Abra charges:
- Trading Fees: Abra charges a trading fee for every buy or sell order on its platform. The fee varies depending on the cryptocurrency being traded, but it usually ranges from 0.25% to 2%.
- Deposit and Withdrawal Fees: Abra does not charge any deposit fees, but it does charge a small withdrawal fee for each transaction. The fee varies depending on the cryptocurrency being withdrawn, but it is typically around $0.25.
- Currency Conversion Fees: If you are converting one cryptocurrency to another on Abra, you will be charged a currency conversion fee. The fee varies depending on the currencies being exchanged, but it is usually around 0.25%.
It’s important to note that Abra’s fees are competitive with other cryptocurrency exchanges, and the platform offers a number of other features, such as interest-bearing accounts and peer-to-peer trading, that may make it worth the cost for some users.