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Tag: Exchange

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Crypto Exchange Coinbase Faces SEC Warning: Will This Mark the End of Its Reign?

March 23, 2023 by Felix


The Securities and Exchange Commission (SEC) has issued a Wells Notice to Coinbase, warning the crypto exchange of potential violations of federal security laws. This comes as a shock to the crypto community as Coinbase has been dominating the market for years. Will this be the end of Coinbase’s reign?

Coinbase CEO Brian Armstrong Takes a Stand

Despite the warning from the SEC, Coinbase CEO Brian Armstrong took to Twitter to defend the company’s practices. Armstrong revealed that the SEC had already approved Coinbase’s business in detail a few years back and that the exchange runs a rigorous asset review process. In fact, more than 90% of asset applications are rejected. 

1/ Today Coinbase received a Wells notice from the SEC focused on staking and asset listings. A Wells notice typically precedes an enforcement action.

— Brian Armstrong (@brian_armstrong) March 22, 2023

Armstrong is confident in Coinbase’s practices and welcomes the opportunity to defend them in court. He also stated that Coinbase will continue to build trusted products and services to update the financial system and create more economic freedom in the world. Additionally, Armstrong expressed a willingness to work with governments and regulators around the world to establish clear rules for regulating the crypto industry.

Coinbase Shares Plunge

The SEC’s warning had an immediate impact on Coinbase’s shares, causing them to drop over 8%. This is a significant decline for a company that has been valued at billions of dollars. Will Coinbase be able to bounce back from this?

Coinbase’s Response to the Investigation

Coinbase’s Chief Legal Officer, Paul Grewal, clarified that the SEC’s warning stemmed from an investigation that was disclosed last summer. Coinbase had agreed to discuss a potential resolution with the SEC, which included registering some part of its business with the agency. However, after multiple meetings with the SEC, the agency shifted back to an enforcement investigation. Coinbase has provided documents and witnesses for testimony but is confident in the way it runs its business. 

Coinbase received a Wells notice from the SEC. After years of asking for reasonable crypto rules, we’re disappointed that the SEC is considering courts over constructive dialogue. But if courts are required, so be it. We’ll defend the rule of law. 1/15 https://t.co/MXpc0RhNj4

— paulgrewal.eth (@iampaulgrewal) March 22, 2023

The exchange’s Chief Legal Officer expressed disappointment at the SEC’s lack of constructive dialogue and willingness to resort to legal action. Coinbase believes that many crypto securities exist that should be available for trading on SEC-registered exchanges and brokerages, and they intend to fight for regulatory clarity through the court system if necessary.

The Future of Coinbase and the Crypto Community

Coinbase’s future hangs in the balance as the investigation is still in its early stages. The crypto community is anxiously waiting to see if the SEC takes enforcement action against the exchange or if Coinbase is able to prove its innocence. Whatever the outcome may be, this warning from the SEC has raised questions about the future of the crypto community and its relationship with regulators.

Despite repeated attempts to engage with the SEC and propose registration models for their business, Coinbase has been left in the dark as to which assets on their platform may be considered securities. The regulatory uncertainty in the crypto industry has caused concern, with even courts questioning the SEC’s inconsistent positions and lack of guidance. Will Coinbase face a lawsuit, or will the industry finally get the clarity it needs in court?

If we don’t update the system, we will turn obsolete

In his latest tweet, Coinbase’s CEO is advocating for an update to the US financial system, highlighting that the current code and laws are outdated. He believes that cryptocurrency is not just a financial service but a technology that can modernize financial services. Armstrong’s tweet calls for a transformation of the system to make way for new and innovative solutions

The U.S. needs to update its financial system. The code is 40 years old and the laws are 100 years old.

Cryptocurrency is not a financial service. It’s a technology that can be used to update financial services.

Let’s update the system. https://t.co/nVp7VqeGab

— Brian Armstrong (@brian_armstrong) March 22, 2023





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Crypto Exchange OKX to Exit Canadian Market by June 2023 Due to New Regulations

March 20, 2023 by Felix


The crypto market has been facing a wave of regulatory changes in recent years, causing many crypto firms to reassess their operations and even exit certain countries altogether. The latest example of this trend is the announcement by crypto exchange OKX that it will be ceasing operations in Canada by June 22, 2023. 

OKX Becomes the Latest Victim of Intense Regulations

In a shocking turn of events, the popular cryptocurrency exchange OKX announced that it would be exiting the Canadian market by June 2023, leaving thousands of users scrambling for alternatives.

OKX sent an email to its Canadian users on March 20th, informing them that as of March 24th, 2023, at 12:00 AM EST, they will no longer be able to open new accounts or access services due to new regulations. Current Canadian users are required to close all positions in options, margins, perpetual, and futures by June 22nd, 2023. Additionally, fiat or tokens must be withdrawn by the same date. The firm said, 

“Your funds will remain safe in your account until you withdraw them. You will be able to withdraw dollars to your linked bank account and cryptocurrency to your self-custody wallet or your cryptocurrency account on another exchange.”

The OKX exchange stated that its departure from Canada is only temporary, and it is collaborating with regulators to resolve the matter. The OKX staff expressed the desire to welcome Canadian users back in the future and advised them to stay tuned for updates. Similarly, Bittrex Global, another cryptocurrency exchange, had previously off-boarded Canadian users on July 29, 2022, citing regulatory developments as the reason for leaving the country. However, Bittrex Global had provided advance notice before taking this step.

Canadian Crypto Regulations Are Obstacles to Crypto’s Growth

The Canadian Securities Administrators (CSA) issued a notice on February 22nd, mandating cryptocurrency exchanges to sign new legally binding undertakings while waiting for registration with the regulatory body. The new undertaking includes several provisions, such as a prohibition on purchasing or depositing Value Referenced Crypto Assets (also known as stablecoins) through crypto contracts without the prior written approval of the CSA. However, it seems that the stablecoin USD Coin (USDC) has not been impacted by this ruling.

At present, Canadian regulators require all cryptocurrency exchanges to register before allowing users in the country. However, on June 22, 2022, ByBit and KuCoin, two cryptocurrency exchanges, received substantial fines after the Ontario Securities Commission found that both were functioning as “non-compliant platforms” in the country.





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#RelistXRP : XRP is listed & Available on Uphold Exchange

March 2, 2023 by Felix


Many cryptocurrency exchanges have suspended or delisted XRP due to a lawsuit filed by the US Securities and Exchange Commission (SEC) against its issuer, Ripple Labs. However, there is still hope for XRP holders, as the cryptocurrency is available for trading on the Uphold exchange.

XRP is a digital asset created by Ripple Labs that facilitates cross-border payments. The SEC filed a lawsuit against Ripple Labs in December 2020, claiming that the company sold XRP as unregistered securities worth $1.3 billion to retail investors without proper disclosures.

Many exchanges, such as Coinbase, Kraken, and Bitstamp, have suspended or delisted XRP for their US customers due to the SEC lawsuit. Some have also delisted XRP from their global platforms. The delisting of XRP by major exchanges has undoubtedly affected its liquidity and value, with XRP’s price dropping from $0.65 to $0.37 in the days following the delistings.

XRP is Available on Uphold

Uphold is one of the few exchanges that have decided to continue supporting XRP trading despite the SEC lawsuit. Uphold offers XRP trading against fiat currencies such as USD, EUR, RUB, TRY, JPY, and stablecoins such as USDT, USDC, BUSD, USDG, and DAI. Uphold’s decision to continue XRP trading is a significant development for XRP holders, as it offers them a platform to trade their assets and potentially recover some of their losses.

Possible Ripple Settlement and Implications for Cryptocurrencies

John Deaton, a pro-XRP lawyer, has proposed a settlement where Ripple would pay $100-250 million if the SEC agrees that ongoing and future sales of XRP are not classified as securities. However, Ripple’s general counsel, Stuart Alderoty, has expressed confidence in the company’s case and stated that the SEC has minimal chances of winning at the Supreme Court.

If Ripple wins the lawsuit, it could set a precedent for how digital assets are regulated and classified in the US. On the other hand, if it loses the lawsuit, it could be a major blow to the cryptocurrency industry in the US as it could lead to increased regulation and potentially even more delistings.

Uphold’s decision to continue supporting XRP trading offers a glimmer of hope for XRP holders in the wake of the delistings. The outcome of the SEC vs. Ripple lawsuit remains uncertain, but it is a crucial case that could have significant implications for the cryptocurrency industry in the US and beyond..





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Tel Aviv Stock Exchange Looks to the Future with Cryptocurrency Trading License Application

March 1, 2023 by Felix


The Tel Aviv Stock Exchange (TASE) is seeking approval from regulators to facilitate crypto trading on its platform. This move comes after last year’s decision by Israeli banking institutions, like Bank Leumi, to offer crypto trading facilities in agreement with Paxos. The draft for public comments published on Monday, February 27, seeks to expand the authorized activities of Non-Banking Members (NBMs) to include trading in cryptocurrency.

Regulation is Needed

The cryptocurrency market has experienced turmoils over the past year, bringing material changes in crypto activity as more regulated institutions take part in this activity. 

The turmoils emphasize the need for regulation in this sector, in view of the rapid development of the cryptocurrency sector over the recent years and the greater involvement of customers in this sector. 

As a result, there is a growing demand from customers to transfer money originating from this activity into their accounts. This requires regulation that will mitigate the various risks (operational, legal, cyber, and other) that are inherent in the crypto activity.

Proposed Structure

The proposed structure will enable customers to deposit money (Fiat money) designated for investment in cryptocurrency and withdraw monies originating from those currencies. 

The NBM will contact two functions – the first, a licensed provider of cryptocurrency trading services, and the second, a licensed provider of custodial services for those currencies. 

In order to purchase cryptocurrency, the customer will deposit monies in traditional currency (NIS or foreign currency) (Fiat money) that will be deposited in an omnibus account of the NBM with the provider of the trading services. 

Upon receiving an order to buy virtual assets from the customer, the purchase will be executed using the money deposited in the omnibus account and recorded in the customer’s account with the NBM. 

When the customer gives the order to sell crypto, the provider of trading services will sell the coins and credit the NBM’s omnibus account by the amount of consideration received, and the consideration will be transferred into the customer’s account with the NBM.

Regulatory Approach

The report, “Regulation of the Digital Assets Sector – Roadmap to a Policy,” published by the Chief Economist in the Ministry of Finance last November, indicates that the current regulatory approach in Israel, and in certain other countries, is to impose regulation on financial activities or services in digital assets similar to that currently applied to non-digital assets, taking into consideration the non-traditional and unique characteristics of this sector.





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Exolix as a crypto exchange service with wide opportunities

February 28, 2023 by Felix


Exolix was launched in 2018 to become the fastest and the most secure crypto exchange platform. Here you can act without limits and with full anonymity. More than 400 coins are available.

What is Exolix?

It is a challenging task for a crypto exchange platform to stand out among numerous similar projects. However, Exolix succeeded in it that is proven by the constantly growing audience and amazing unique features that this crypto exchange service provides.

It was launched in 2018 and since that time, the team of developers is looking for ways to improve it and make the experience of users even more enjoyable. Thus, here you can profit from full anonymity, act without limits and be sure that you always get what you want. Does it sound like a fairy tale? Learn more about the Exolix exchange process and broaden your horizons as well as profits.

How does Exolix work?

This unique project is based on a special algorithm that searches for the best prices for your conversion. As here you can buy, swap or trade over 400 coins, the profits are obvious.

Moreover, you do not need to register or create an account here. Thus, if you are a novice user, you can just open the platform and start your first transaction. The interface is convenient and user-friendly so it will be easy to do.

Pay attention to the wallet addresses and keep in mind that there is no way to cancel a transaction as it is always with crypto. After you perform a simple procedure, you will have to wait from 5 to 30 minutes. There will be a unique ID that helps to follow the processing and reach to the support team in case of any questions. And do not forget about a fixed-rate function. Click o it while making a transaction and market volatility will never influence your performance.

Altogether, the procedures here are more than easy and users get used to the platform very quickly. In addition, you can learn more about an affiliate program and launch a strong partnership with Exolix. That will contribute to your profits and broaden your horizons.

It’s Features

Why trading and converting coins here is so popular? Exolix cares about its users and provides a comfortable environment where you can:

  • Act without any limits and perform any transaction you wish;
  • Remain anonymous without the creation of an account and tiresome registration procedure;
  • Profit from a fixed-rate function that will protect you from market volatility during the performance of the transaction;
  • Enjoy transparent rules and the absence of hidden fees;
  • Contact a reliable support team any time you need help.

The trust of the Exolix community is based on strong security protocols, SSL certification, and reliable protection from DDoS attacks. This exchange platform cooperates with many other successful projects and welcomes all those who would like to join an affiliate program.

Therefore, together with Exolix, we open a new era in the crypto exchange. Here everything is made as it meant to be in the crypto world. Swift, reliable and completely anonymous service was created for people and will meet all your expectations. Do not hesitate to learn more about it and give it a try.

Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.





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Crypto Exchange Coinbase Suspends Trading Of BUSD Stablecoin! Will BUSD Be The Next Depegged Stablecoin After UST?

February 28, 2023 by Felix


As stablecoins are gaining a lot of attention, they have attracted the deadly eyes of regulatory bodies over whether they are being traded as security.

Binance USD (BUSD), one such stablecoin that has been the crypto market’s favorite, is now getting negative impact from the regulatory scrutiny of the Securities and Exchange Commission (SEC) in the United States.

The SEC is now scrutinizing BUSD stablecoin, raising concerns about their regulatory status and potential impact on the financial system. As the FUD sentiment surrounding BUSD is at its peak, many crypto exchanges are now heading toward disabling the trading services of BUSD.

According to a recent tweet from crypto exchange Coinbase, the company is now closing every door for traders to trade assets with the BUSD pair, providing an uncertain situation for Binance. 

Coinbase Shuts Down BUSD Stablecoin

BUSD seems to be trapped under strong regulations as the crypto market is now moving away from trading with BUSD, with rising concerns regarding its policies. Recently, crypto exchange Coinbase announced through a Twitter thread that BUSD trading would be shut down on 13 March at 12 pm ET. 

The exchange said, “We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for Binance USD (BUSD) on March 13, 2023, on or around 12pm ET. Trading will be suspended on Coinbase.com (Simple and Advanced Trade), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.”

However, officials from Coinbase have not yet given an appropriate reason behind closing BUSD trading services. Market analysts believe that Coinbase is keeping itself away from the SEC’s territory as there previously had been a legal battle between them. 

Will The SEC Sue Paxos Soon?

There are indications that US regulators could be planning to take enforcement action against Paxos Trust Co. for the stablecoin it issued, signaling an escalation in the ongoing crackdown on cryptocurrencies.

If the SEC plans to sue Paxos, it may have a major impact on the $107 billion market cap. A lawsuit against BUSD would follow the similar case in which the regulatory body sued Terraform Labs, and its CEO, Do Kwon, for their involvement in a multi-billion dollar fraud related to TerraUSD (UST), an algorithmic stablecoin.

An extension of the current legal threats may soon depeg BUSD from the US dollar and bring a tumbling situation for the crypto exchange giant Binance.

However, Paxos previously stated BUSD is fully supported by reserves with either fiat cash or United States Treasury bills. It has also been reported that BUSD is authorized and subject to regulation by the New York State Department of Financial Services (NYDFS).





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Bankrupt Crypto Lender Voyager Selling Assets via Coinbase Exchange

February 27, 2023 by Felix


Voyager Digital, a cryptocurrency lending platform, is reportedly selling its digital assets through Coinbase Exchange while facing bankruptcy proceedings. The company has been transferring various types of crypto, such as Ethereum and Shiba Inu, to the exchange since mid-February, with the total value of the transfers reaching over $100 million.

According to blockchain analysis firm Lookonchain, Voyager also received $100 million worth of USD Coin over the past three days.

Voyager’s Past Transactions and Crypto Holdings

In addition to the recent asset sales, Voyager reportedly sent $28.7 million worth of crypto to Coinbase and Binance on February 16th. The lender also holds $631 million worth of crypto assets, mainly in ETH, USDC, and SHIB.

Voyager and crypto exchange FTX have reached an agreement over $445 million of disputed loan payments last week. FTX had sued to recover some loan repayments made to Voyager before its own bankruptcy filing. Voyager will hold on to the funds until there’s a final settlement or court order

Challenges to the Binance.US Deal

Voyager filed for bankruptcy in July 2022 and is currently negotiating a potential sale to Binance.US for $1 billion. However, regulatory agencies, including the US Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC), have expressed concerns about the sale.

The SEC is doubtful that Binance.US can complete the deal in compliance with federal securities law, while the FTC is investigating Voyager’s alleged deceptive and unfair cryptocurrency marketing practices.

Binance.US Confirms the Deal Will Proceed

Despite the regulatory challenges, Binance.US has confirmed that the Voyager acquisition will proceed. The exchange has stated that its customers should expect an email regarding the next steps of the deal.





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SEC Drops the hammer on Paxos – Sues The Exchange Over Binance Stablecoin

February 13, 2023 by Felix


The United States Securities and Exchange Commission (SEC) has informed Paxos Trust Co. that it intends to sue the company for violating investor protection laws. This move comes as part of the SEC’s ongoing campaign to enforce regulations in the cryptocurrency market.

Wells Notice Issued to Paxos

The SEC’s enforcement staff has issued a Wells notice to Paxos, a letter used to inform companies and individuals of a possible enforcement action. The notice alleges that Binance USD, a digital asset issued and listed by Paxos, is an unregistered security.

The reason for the notice, specifically related to the issuance or listing of the coin, is not yet determined. Firms that receive Wells notices have the opportunity to respond in writing and argue why the SEC should not proceed with a lawsuit.

Binance and Paxos partnership

BUSD is a Binance-branded stablecoin pegged to the dollar at a one-to-one ratio. Binance and Paxos announced their partnership to launch BUSD in 2019, and it is now listed on several exchanges including Paxos-run digital asset exchange itBit.

Paxos and Binance Respond to SEC Notice

Paxos declined to comment on the matter, while Binance stated that BUSD is issued and owned by Paxos and that it only licenses its brand.

SEC’s Stance on Stablecoins

The SEC has previously indicated that stablecoins would be a focus for its enforcement unit, and SEC Chairman Gary Gensler has said stablecoins can resemble bank deposits or money-market mutual funds. In November 2021, a panel of regulators led by the Treasury Department said that stablecoins should have a specific regulatory framework and be limited to issuance by banks.

BUSD’s Growth in the Market

BUSD has become the world’s third-largest stablecoin, with a market cap of over $16 billion as of Sunday, according to CoinGecko data. Paxos also issues its own stablecoin, Pax Dollar, with a market cap of around $897 million.

Kraken Agrees to Pay $30 Million in Penalties to SEC

The SEC has been intensifying its crypto enforcement efforts against major market participants. Last week, Payward Inc.’s Kraken platform agreed to stop offering crypto staking services in the US and pay $30 million in penalties to the SEC for selling unregistered securities as yield products.

Paxos Under Investigation by NYDFS

Paxos is also currently under investigation by the New York Department of Financial Services, though the scope of the investigation is unclear.

This news follows recent enforcement actions taken by the SEC against digital tokens, and the increasing scrutiny of cryptocurrency firms by government officials globally. Netizens are criticizing the SEC for planning to sue several crypto exchanges. They say that the SEC should have made clear rules from the beginning instead of regulating through enforcement. Unfortunately, the SEC is hurting investors more than crypto firms indirectly.





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Kraken Exchange Review 2023- the Pros and Cons, Fees & more

February 10, 2023 by Felix


Introduction

Are you going to open an account in Kraken for cryptocurrency investment and trading? Not sure whether Kraken is the right exchange for you? Then read on. In this review, we will cover everything you need to know about Kraken exchange’s trading fees, trading types, cryptocurrencies available, earning programs, etc.

Overview

Official Web Address https://www.kraken.com/ 
Headquarters San Francisco
Country of Origin United States
Founder Jesse Powell
Founding Year 2011
Exchange Type Centralized
Trading Options Spot, Margin, & Derivatives trading
Trading fees Maker fee -0.16%, Taker fee -0.26%
No of cryptocurrencies 185+
Native Token No
Deposit methods Bank Transfer, Debit/ credit cards, ACH
Deposit fees No Deposit fees
Withdrawal methods Bank Transfer, Swift, SEPA, Wire Transfer, etc
Withdrawal fees Network fee for Crypto withdrawal
Supported Countries 180
Restricted countries 7+
Supported Fiat currencies USD, EUR, CAD, AUD, GBP, CHF, JPY & AED
Mobile App Available on Google & Apple App Store

What is Kraken Exchange?

Kraken is a cryptocurrency exchange with 9 Million clients from over 190 countries with a quarterly trading volume of $207 Billion. The exchange was founded in 2011 by Jesse Powell in the United States and its headquarter is located in San Francisco. The exchange has two trading platforms Kraken for beginners and Kraken Pro for advanced traders. 

Kraken offers 185+ cryptocurrencies in its exchange for trading and has a robust security system. There had been no major hack events in the exchange and it shows their commitment to creating a clean and secured cryptocurrency exchange. The trading fee is calculated based on the 30-day trading volume and the maker/ taker position of the user. Generally for a beginner, the maker fee is 0.16% & the taker fee is 0.26%. 

The exchange has a simple user interface, making buying and selling easy for users. If you are a beginner and unsure where to start they have a learning center on their website where you can learn everything about cryptocurrency & blockchain. 

Kraken exchange review 2023 home page

Features

  • Trading Types – They offer Spot, Margin & Derivatives Trading
  • Trading Fees – The trading fee for beginners is (0.16% Maker fee & 0.26% Taker fee). The 30-day trading volume is also considered while calculating the trading fee. The more you trade, the less trading fee you have to pay. 
  • Proof of Reserve – The exchange is audited by a third party using Merkle Tree and you can check whether your account was audited by going to the Setting page > Audit
  • Bugs Bounty Program – Freelance developers and ethical hackers can join this program to help the exchange find its vulnerability and bugs. The individuals will be rewarded based on the severity of bugs reported in the system. The higher the severity, the higher the reward. All rewards are paid in bitcoins
  • Kraken Pro – A platform exclusively designed for advanced traders to execute trades smoothly. It includes graphs, market metrics, open orders, positions, and the ability to place trades. Currently, it has more than 9 million reviews & trading volume of $207 billion
  • Learn – They have an exclusive learning center with blog articles, videos, and podcasts on cryptocurrencies and blockchain 
  • Staking – Earn up to 21% APY by holding and staking your cryptocurrencies. Please note that this feature is currently unavailable in the United States.

Cryptocurrencies Available on Kraken

Kraken supports over 185+ cryptocurrencies. Some of the Popular cryptocurrencies include

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Ripple (XRP)
  • Stellar Lumens (XLM)
  • Solana (SOL)
  • Sushi (SUSHI)
  • Uniswap (UNI)

How to Create an Account on Kraken?

Let us learn how to create an account on the Kraken exchange

  1. Log on to Kraken.com
  2. Enter your email ID and set a password
  3. Confirm your email ID by clicking the link sent to your account
  4. Congratulations your account has been created
  5. We recommend you get verified in order to increase withdrawal limits. The verification is of 3 types – Starter, intermediary, and Pro. You need to provide basic details like name, and phone number for starter verification which can be done in less than 1-2 minutes. Address proof and ID proofs are submitted for intermediary verification which can take 3-4 minutes. And for Pro verification, you need to mention financial details like a source of funds, etc. 

How to Buy Cryptocurrency on Kraken?

Let us learn how to buy cryptocurrency on Kraken. Make sure that your ID is verified before this. 

  1. Log on to your Kraken account
  2. Click [Buy Crypto]
  3. Select the currency pair. (The cryptocurrency you want to buy and the fiat currency you want to use for the transaction)
  4. Fill out the order form 
  5. Click confirm order
  6. You will get a notification once the transaction is complete

How to Sell Cryptocurrency on Kraken?

Let us learn how to sell cryptocurrency on Kraken. 

  1. Log in to your Kraken account
  2. Click on [Buy Crypto]
  3. Select the cryptocurrency you want to sell and the fiat currency you want to receive
  4. Click Sell
  5. Review the order details and Confirm it
  6. You will get a notification once the order is complete

How to Deposit Cryptocurrency on Kraken?

Let us learn to deposit cryptocurrency on Kraken

  1. Sign in to your Kraken account and navigate to the funding
  2. Click [Deposit]
  3. Search for the cryptocurrency you want to deposit and select it
  4. If you are depositing for the first time in a Kraken account, you need to generate a deposit address
  5. Follow the instructions provided by cryptocurrencies deposits on the page
  6. Copy the address and paste it into the wallet from which the funds have to be sent
  7. Mention the tag and memo for certain selected cryptocurrencies like ripple, Lume, Stack & EOS

How to Withdraw Cryptocurrency on Kraken?

Let us learn how to withdraw cryptocurrency from Kraken

  1. Sign in to your Kraken account
  2. Click [Withdraw]
  3. Select the currency you wish to withdraw
  4. Select a previously added address or add a new address
  5. Enter the amount you wish to withdraw
  6. Review the details and Click [Confirm]
  7. You will get a notification once the transaction is complete

Exchange Fees & Supported Payments

There are no deposit charges for depositing cryptocurrencies, however, there is a minimum amount for withdrawal and withdrawing charges vary on different cryptocurrencies. The supported fiat currencies include USD, EUR, CAD, AUD, GBP, CHF, JPY & AED. You can deposit cash via bank transfer, ACH & Debit/ credit cards.

The Kraken exchange uses the maker-taker model and 30-day trading volume into consideration while calculating trading fees. Usually, for beginners, the trading fees are 0.16% maker fees and 0.26% taker fees. As the trading volume increases there is a significant decrease in the trading fees. 

The volume generated with the Instant Buy option is not considered in the 30-day trading volume. Users trading over $100,000,000 in 30-day volume on spot crypto pairs benefit from 0.00% maker fees and 0.08% taker fees.

The detailed break-up of trading fees for spot & Futures trading is listed below in the table. 

Spot Trading Fees

30- Day Volume (USD) Maker Taker
$0 – $50,000 0.16% 0.26%
$50,001 – $100,000 0.14% 0.24%
$100,001 – $250,000 0.12% 0.22%
$250,001 – $500,000 0.10% 0.20%
$500,001 – $1,000,000 0.08% 0.18%
$1,000,001 – $2,500,000 0.06% 0.16%
$2,500,001 – $5,000,000 0.04% 0.14%
$5,000,001 – $10,000,000 0.02% 0.12%
$10,000,000+ 0.00% 0.10%

Futures Trading Fee

30-Day Volume USD Maker Fee Taker Fee
$0 – $100,000 0.02% 0.05%
$100,001 – $1,000,000 0.02% 0.04%
$1,000,001 – $5,000,000 0.01% 0.03%
$5,000,001 – $10,000,000 0.01% 0.03%
$10,000,001 – $20,000,000 0.01% 0.02%
$20,000,001 – $50,000,000 0.01% 0.02%
$50,000,001 – $100,000,000 0.00% 0.01%
$100,000,001 + 0.00% 0.01%

Stable Coins, Pegged Tokens, & FX Pairs

30- Day Volume (USD) Maker Taker
$0 – $50,000 0.20% 0.20%
$50,001 – $100,000 0.16% 0.16%
$100,001 – $250,000 0.12% 0.12%
$250,001 – $500,000 0.08% 0.08%
$500,001 – $1,000,000 0.04% 0.04%
$1,000,000+ 0.00% 0.00%

Customer Support

Kraken has a support section where you can answer your general queries. If you are still not happy with it, you can contact customer support via the 24/7 chat support team. The exchange also provides 24/7 phone support for customer account-related issues in English, Spanish & French. 

Mobile App

Whether you are a crypto beginner or an advanced trader, Kraken offers a simple, easy-to-navigate mobile app that is available both on the Google Play store and the Apple App store. With the mobile app, you can trade cryptocurrencies, track your portfolio, check account details, track market trends, etc. The app has a 4.4-stars rating.

Affiliate Program

Kraken exchange runs an affiliate program where the users will get a 20% trading fee commission for every referee they sent into the system. The referee must have a count of followers of more than 5000. This program is for a lifetime and the bonuses will be directly credited to your bank account rather than the exchange account. 

Conclusion

Kraken is one of the oldest and safest exchanges in the world. Top-notch security and compliance have always been their priority in business operations. The exchange offers more than 185 cryptocurrencies and the trading fees are very reasonable. 

Based on the level of trading requirements you can choose a suitable verification level and use the exchange. 

The exchange is extremely transparent and they document all of their procedures and policies online. They have also received extensive coverage in the past and the Kraken price is also affordable. Kraken is regulatory compliant in all jurisdictions of operation and accepts US customers

A secure track record, fiat deposits, multiple trading options, and excellent customer service have made Kraken’s reputation one of the most reputable cryptocurrency exchanges. Kraken has never been hacked and is a reliable exchange. 

Thus Kraken is highly recommended for both US and international users.  It is an excellent choice for high-net-worth individuals looking to purchase large amounts of crypto assets. However, we recommend you transfer your digital assets to offline wallets to reduce threats. 

FAQs

Is the Exchange available in the U.S.?

Yes, the exchange is available for United States Residents. However, it is not available in New York. 

Has the exchange ever been hacked?

The exchange has a robust security system. Even though it had many hacking attempts reported on the system, there had not been any hacking events.

Can I use Kraken without verification?

In order to increase the withdrawal benefits you need to verify your identity. Kraken is a complaint company and in order to prevent fraudulent activities the exchange asks for verifying your individual accounts. Based on your requirements for trading, you can select a suitable level of verification. 

Is Kraken good for beginners?

Kraken is one of the oldest and safest cryptocurrency agencies in the world. With 185+ cryptocurrencies on its list, it is a good platform for both beginners and advanced traders. Though it may be overwhelming for beginners as it is not so easy to navigate, we still recommend it in the name of security.

Kraken Rating

  • Trading & transaction Fees
  • Affiliate Program
  • Website transparency
  • Security

Pros

  • Low transaction fees
  • Margin Trading with 5x leverage
  • High financial security
  • Several fiat currencies tradable
  • Dark pool trading

Cons

  • Limited deposit options
  • No simulated trading option
  • No Wallet
  • Delisted in New York for failure to apply for BitLicense
  • Limited trader educational resources

Overview

Official Web Address https://www.zb.com/en/ 
Headquarters Zurich, Switzerland
Country of Origin China
CEO Romex Jha
Founding Year 2013
Exchange Type Centralized
Trading Options Spot, margin, 
Trading fees 0.20% trading fees, Lesser fees for VIP customers
No of cryptocurrencies 200+
Native Token ZB Token (ZB)
Deposit methods Master Cards (Debit/ credit card), Bank Transfer
Deposit fees No deposit fees for cryptocurrencies
Withdrawal methods Bank transfer
Withdrawal fees Depends on cryptocurrencies
Supported Countries 180+
Restricted countries 10+
Supported Fiat currencies USD, CNY
Mobile App Available on Google & Apple App Store

What is Zb.com?

Zb.com is a digital asset exchange that was founded in 2013 with the name CHBTC. It is owned by ZB group. However, Following the crypto ban, CHBTC ceased its operations in China and moved Overseas with its current name ZB.com. The CEO of the company is Romex Jha. 

Zb.com presents itself as the world’s most secure digital asset exchange. However, it was hacked in Aug 2022 with a loss of $4.5 million dollar. It has its own token called ZB Token. 

The exchange has more than 10 million users and has offices in Dubai, Malaysia, Singapore, Australia, Russia, South Korea, Hong Kong, Switzerland & U.S.

Timeline

2013 CHBTC was founded
2015 Launched ETH, BTS, EOS, and QTUM trading
2016 CCN reported CHBTC as one of China’s largest exchanges
2017 Officially Closed Chinese Market operations following the crypto ban and rebranded as ZB.COM to focus on the international market
2018 Opened business of margin trading, custodian products, OTC trading, loan, Vote to List, ZB Partner Program, Market Maker Plan
2019 Hosted multiple meetups in Brazil, Bangkok, New York, Malta &Singapore
2020 ZB exchange token was chosen as one of the top 5 tokens
2022 Nearly $5 million was hacked from its hot wallet

Some of the red flags to consider while opening a ZB account

  1. ZB has suspended the deposit and withdrawals following Aug 2022 hack
  2. No response from officials regarding the hack
  3. Slow customer response
  4. Twitter account has been suspended
  5. Social media handles are not that active. 
  6. The website is not transparent
ZB homepage Chinese cryptocurrency agency

Features

  • Trading options – Spot, Margin, OTC, and derivatives trading are available on ZB. It also features a trading bot to avoid emotional trading. 
  • Trading Fees – You can enter a VIP level by purchasing a ZB token or Holding a ZB token for 30 days. For VIP Level 1 customers the trading fee is 0.18% and for VIP level 9 customers trading fee is 0.09%. For regular users trading fees is 0.20%. 
  • Loan – you can avail loan by pledging the collateral amount.
  • Rewards Center – Invite your friends to join ZB and you both will get 5 USDT and up to 500 USDT can be claimed for further tasks. 
  • Exchange Partners – you can generate your own referral code and invite friends. You will get 40% of their trading fees as a commission on successful registration. 
  • ZB trading bot – you can create your own trading bot where orders will be executed as per the stop loss set by you. It offers 3 trading bots for the sideways market, bear, and bull market. 

Cryptocurrencies Available on Zb.com

ZB.com offers more than 200 cryptocurrencies. Some of the Popular cryptocurrencies are

  • Bitcoin
  • ZB Token
  • Ethereum
  • Tether
  • Litecoin
  • DogeCoin
  • Luna
  • Matic
  • Solana
  • Shiba Inu

How to Create an Account on ZB?

Let us create a new account on ZB

  1. Log on to zb.com and click [Sign up]
  2. Enter your email address and set a password. Then enter the authentication code sent to your email address. 
  3. To unlock the full functionality of the account, you need to verify the account. 
  4. Navigate to your account dropdown menu and select [ID verification]
  5. Click [Verify]
  6. Download the ZB Pro mobile App and verify
  7. Click on [Real Name Verification] from the mobile app drop-down menu and select the region [Mainland China / Overseas]
  8. If you are a Chinese national, upload a Chinese ID and take a self-video of yourself and upload it. 
  9. If you are an overseas national, select your region and upload a Government-issued photo ID and then upload a selfie video.
  10. It may take 24-48 hours to fully verify the account. In case it takes more time, raise an email ticket. 

The difference in service limit between verified and unverified accounts

Functions Unverified account Verified account
Deposit Unlimited Unlimited
Withdrawal Limited $100K in total Unlimited in total, Single currency limited to $2M/day
Fiat Quick deposit only Unlimited Quick trading and Multiple options trading are available

How to Buy Cryptocurrency on ZB?

You can buy cryptocurrency using debit/ credit cards, fiat currency, or bank transfers. However, the recommended method is using debit/ credit cards. 

  1. Log in to your ZB account and click [Buy Crypto] and select [Debit/ credit card] 
  2. Enter the purchase amount and the corresponding amount will be converted into a selected cryptocurrency
  3. Select the payment method Banx/ Simplex/ Advcash
  4. Confirm once you verify the details
  5. You can view your transaction status within a few minutes

How to Sell Cryptocurrency on ZB?

Let us learn to sell crypto on ZB

  1. Log on to your ZB account and Navigate to [Buy Crypto}, click [Fiat]
  2. Click on Sell Crypto
  3. Type the amount of crypto you want to sell
  4. Click on [Fiat]
  5. Choose the payment method
  6. Click sell
  7. You will get a confirmation once your transaction is complete

How to Deposit Crypto on ZB?

Let us learn to deposit cryptocurrency on ZB

  1. Log on to ZB.com and navigate to the [Funds] menu. Select [Deposit]
  2. Select the cryptocurrency you want to deposit
  3. Click the deposit address and paste it into the withdrawal platform
  4. You can also do this using the QR code
  5. For some currency deposits, you may have to provide the ZB account name and remake (MEMO)
  6. Once the deposit is completed, refresh the page to check the progress of the deposit

How to Withdraw Crypto on ZB?

Let us learn how to withdraw crypto on ZB

  1. Log on to ZB and navigate to the [Funds] menu. Select [Withdraw]
  2. Select the coin you want to withdraw
  3. Select the withdrawing address and type the amount you want to withdraw. If you are adding a new address, provide a nickname for it for future use.
  4. For some cryptocurrencies, you may need to provide the ZB account name and remarks (Memo) which is a payment ID. 
  5. Provide the transaction password, google authentication code, and dynamic verification code
  6. Confirm the verification details sent to your email
  7. Return to the withdrawal page and enter the amount to wish to withdraw
  8. Enter the transaction password, google authentication code, and dynamic verification code
  9. Once the withdrawal process is completed, you can check its progress in the withdrawal history section. 

Exchange Fees & Supported Payments

The maker and taker fee for a regular user is 0.20%. However, if you are joining the VIP level program by purchasing ZB Token or holding ZB Token, then your trading fee is considerably reduced. Have a look at the table below to know more about VIP-level trading fees. 

VIP Level Trading Fee Pay with ZB Purchase ZB/ 30 day Lock-up ZB/ 30 day UP Amount ZB
1 0.18% 0.09% 100 2500 200
2 0.16% 0.08% 500 12000 500
3 0.14% 0.07% 1000 50000 1000
4 0.12% 0.06% 5000 200000 2000
5 0.10% 0.05% 20000 800000 10000
6 0.09% 0.05% 30000 1200000 30000
7 0.08% 0.04% 40000 1600000 45000
8 0.07% 0.04% 50000 2000000 55000
9 0.06% 0.03% 60000 2400000 80000

There are deposit fees for cryptocurrencies.

There is a minimum withdrawal amount for cryptocurrencies and withdrawal fees vary for each currency. 

Referral

ZB.com has a referral program where the referee can earn up to 40% of their invitee’s trading fees. For regular users, the trading commission is 10%. 

If you are becoming a partner at ZB to increase their trading community then you will get more benefits. 

Who can become a partner at ZB?

  1. Community leaders from the cryptocurrency, financial and related industries with no less than 500 community members and/or no less than 1000 followers on each of their active social platforms.
  2. Blockchain-based market, search, and data analytics websites with at least 1000 page views/day.
  3. Other individuals or organizations with the potential to increase ZB’s reach to new audiences.

Partners are categorized into various partner levels depending on their performance and are rewarded respectively. 

ZB Global Partners Plan

Customer Support

ZB.com has a help section where you can find general and specific FAQs related to account issues. If you are not happy with the FAQs for your queries you may contact the email support team by emailing them at [email protected]

We are not happy with customer care as it won’t solve any emergency or urgent queries. 

Recent Updates

Following the hack in Aug 2022, the deposit and withdrawal function has been halted by ZB. There is no announcement on when the function will be back. Moreover, the official Twitter account has been suspended and there are many mimicking accounts on Twitter posing as the official accounts. There is no significant activity on Facebook since 22 July 2022. The social media activity is less for the past few months. The officials have not responded to anything related to the hack. 

These are red flags. Netizens conclude that the hack was a part of an exit scam by ZB. We can only hope for the best. 

ZB System Update progress Announcement

Conclusion

ZB was one of the cryptocurrency exchanges founded in China. Following the crypto ban in China, it moved overseas to continue its service to international users. It was hacked in Aug 2022 and it lost around $5 million dollars. It suspended withdrawing and depositing cryptocurrency in its exchange following that. 

The officials have not yet responded regarding the hack. Their social media handles are not active. The Twitter account has been suspended. There is no proper customer support. These are all red flags to consider while starting an account in ZB. Netizens conclude that the hack was actually an exit scam even though there is no solid evidence for that. 

We highly recommend not trading in this exchange as it is not transparent about its operations. 

FAQs

Where is ZB.com located?

ZB was founded in China in the year 2013. However, following the crypto ban in China, it moved its office to Zurich, Switzerland. Most of its board members are from Dubai. It recently made Dubai its strategic office to support the MENA region

Is ZB available in the U.S.?

Even though it has offices in the United States, it is not highly adopted by Americans. ZB has a more global presence and especially in the Asia region. 

Does ZB require KYC verification?

To unlock the full features of ZB you need to complete KYC. There is no need for KYC for deposits but for withdrawals you need KYC verification. Once you have done KYC you are entitled to unlimited withdrawals and deposits. 

Has ZB ever been hacked?

ZB was hacked in Aug 2022 where it lost almost $4.5 million. It has temporarily stopped deposits and withdrawals following the hack. The officials have not responded after the hack. Moreover, their social media account – Twitter has been suspended and other channels are not so active. The customers are having a high time getting responses from the ZB team.

ZB.COM Exchange Ratings

  • Trading Fees
  • Earning Programs
  • Website Transparency
  • Security

Pros

  • It provides high liquidity.
  • Low and competitive fees.
  • Advanced trading platform.
  • Can trade on Margin and in Futures markets.

Cons

  • Only a limited number of Crypto assets are available.
  • Most users are Asians and need to expand beyond.
  • Only 2 supported fiat currencies – USD & CNY
  • The official Twitter account has been suspended and there are many mimicking accounts on Twitter
  • Very less social media activity
  • Deposits and withdrawals have been halted following the hack in Aug 2022
  • The officials have not responded to the hack in Aug 2022



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Solana Defi Exchange Hacked, Cardano Rejected By Paxful Founder While Snowfall Protocol Grows 250%

December 29, 2022 by Felix


Cryptocurrencies are gaining increasing attention due to their potential to revolutionise the way transactions are conducted. 

Snowfall Protocol (SNW) is a new cryptocurrency that boasts superior features over other popular cryptocurrencies like Cardano (ADA) and Solana (SOL). In this article, we are talking about what makes Snowfall Protocol (SNW) a better choice than Cardano (ADA) and Solana (SOL).

Solana (SOL) declines after major hack

Solana (SOL) has experienced a serious hack on one of its largest DeFi protocols, adding to the difficulties the network has had in recovering from the debilitating harm caused by the shocking collapse of one of its most important backers, FTX. On Friday, the Solana DeFi protocol, Raydium, revealed that a hacker had gained “owner authority” and was draining the company’s liquidity reserves. The hacker stole $1.6 million in Solana (SOL).

Consequently, Solana’s (SOL) cost has dropped by 7.72% over the past week, and by over 18% this month. This is not the first time Solana (SOL) was exposed to a hack this year. The consistent security breaches could mean there isn’t much security backing Solana (SOL). Therefore, investors are flooded with doubt whether they should continue holding Solana (SOL) tokens.

Paxful founder rejects Cardano (ADA) after Ethereum (ETH)

In a recent Twitter post, Paxful founder and Bitcoin peer-to-peer marketplace creator, Ray Youssef, stated that he would not be supporting Cardano (ADA), along with two other prominent tokens, on his platform. This comes after Youssef announced the delisting of Ethereum (ETH) from the platform.

According to analysts, the price of Cardano (ADA) may be heading for a precipitous drop after this announcement, supported by the overall market outlook for the token. As 2023 approaches, investors in the cryptocurrency industry are still trying to recover from a difficult year in which most of its assets, notably Cardano (ADA), incurred substantial losses.

Cardano (ADA) is in a consistent bearish trend, as shown by the daily chart. Moreover, Cardano (ADA) has been trading in a downward channel since August.

Experts predict that by 2023, the price of Cardano (ADA) could have dropped by another 60%. At the time of writing, Cardano (ADA) was trading at $0.31.

Snowfall Protocol (SNW) rises over 250% in one month

Due to the widespread demand for a more functional and streamlined cryptocurrency market, Snowfall Protocol (SNW) was introduced. The goal of Snowfall Protocol (SNW) is to establish a straightforward method of cross-chain communication that is highly efficient and secure. Snowfall Protocol (SNW) uses a canonical bridging concept to facilitate exchanges with both EVM-compatible and non-EVM-compatible blockchains. 

The launch of Snowfall Protocol (SNW) on January 3, 2023, should be at the top of the priority list for any cryptocurrency investor seeking a high rate of return on their initial investment. The presale and stage 2 of Snowfall Protocol’s pre-launch campaigns were both resounding successes for SNW.

Snowfall Protocol (SNW) token is currently in the last phase of presale and is trading at $0.14, up from $0.075 in the last round. Many industry experts predict that Snowfall Protocol (SNW) will become one of the tokens that helps most people earn huge ROIs in 2023.

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.



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FTX Users File Lawsuit Against Defunct Exchange. Will They Get Their Money Back?

December 28, 2022 by Felix


The latest development in the drama of FTX is that on December 27, users of the defunct exchange filed a class action lawsuit against the firm and its former senior executives, including Sam Bankman-Fried, in an effort to have it declared that the digital assets held by the company rightfully belong to the customers.

The firm is still engaged in a fight with liquidators in the Bahamas and Antigua, in addition to the bankruptcy of Blockfi, which is yet another failing cryptocurrency business. This case is the most recent legal effort to collect FTX’s diminishing assets.

In the class action lawsuit, nearly one million FTX customers from the United States and other countries are being represented. According to the complaint, members of the Customer Class should not have to wait in line throughout these bankruptcy procedures alongside secured or general unsecured creditors simply to have a chance to partake in the estate assets of the FTX Group and Alameda, which have been significantly reduced.

In the event that the court determines that it is property owned by FTX, the users will petition for an order stating that they have the right to reimbursement, even if it means taking priority over the creditors.

SBF the Reckless Con Artist

Samuel Bankman Fried, the man who founded FTX, is a criminal who conducted an extremely reckless and, to tell the truth, quite a lengthy fraud until it all came crashing down on him a month ago.

The disgraced public figure is said to have used the funds that belonged to FTX users to fund his hedge fund Alameda. He also used the money contributed by FTX users to purchase estates and other expensive items for himself and his family. 

Customers hurried to remove their assets from what was previously the second-largest cryptocurrency exchange when concerns about FTX’s finances appeared online last month. In response, the firm, which is located in the Bahamas, froze withdrawals and then filed for bankruptcy.

Following this, Bankman-Fried was taken into custody at the request of the government of the United States and charged with eight separate criminal offenses. These charges range from wire fraud and money laundering to conspiracy to conduct fraud and making illicit political donations.

However we have no idea whether or not this most recent lawsuit will eventually get the users their money back, but I definitely hope it does. The criminal SBF should pay back all the money he stole.



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Kucoin Exchange Review | Kucoin Rating

December 23, 2022 by Felix


Introduction

What do new traders look for in a cryptocurrency exchange? Popularity, ease of use, low trading fees, trading tools, security, earning programs, and many more. Today we will review Kucoin Exchange – The People’s Exchange.

Overview

Official Web Address https://www.kucoin.com/ 
Headquarters Seychelles
Country of Origin China
Founder Michael Gan, Eric Don
Founding Year 2017
Exchange Type Centralized
Trading Options Spot, margin, derivative, crypto-to-crypto trading
Trading fees 0.10% maker and 0.10% taker fees, 20% discount for KCS payment
No of cryptocurrencies 700+
Native Token Kucoin Token (KCS)
Deposit methods Master Cards (Debit/ credit card), Bank transfer, AdvCash wallet
Deposit fees No deposit fees for cryptocurrencies
Withdrawal methods Bank transfer, Wire Transfer
Withdrawal fees Depends on cryptocurrencies
Supported Countries 200+
Restricted countries 7+
Supported Fiat currencies 50+
Mobile App Available on Google & Apple App Store

What is Kucoin?

Kucoin also called ‘People’s Exchange’ is a centralized cryptocurrency agency founded in 2017 by Michael Gan and Eric Don. Its head office is in Seychelles. The native coin of Kucoin is Kucoin Token (KCS). 

Kucoin offers spot trading, margin trading, P2P, and derivatives trading with a lesser trading fee of 0.10% and you can get an extra 20% discount if you are paying in Kucoin Token. 

Initially, Kucoin had a team of 10 employees but, now it has more than 200 employees from more than 70 countries. Currently, they have 20 million users from more than 200 countries. In order to better serve them, they will be opening regional headquarters in Bangkok, Hong Kong, and Dubai very soon. 

Kucoin has a very good referral and affiliate program where you can earn a commission of up to 50%. Moreover, the staking and dual investment schemes are an added advantage to any crypto investor. 

Kucoin Homepage

Features

  • Trading Options – Kucoin offers spot, margin, P2P & derivatives trading.
  • Trading fees – The maker & taker fee is 0.10%
  • Crypto Loans – An exclusive feature where you can lend cryptos to other users and earn interest. If you have any need, then you can also borrow crypto from the exchange. The best part is that you can choose your own interest rate and time period. 

Kucoin Exclusive Features

  • Kucoin Earn – This is like a fixed deposit scheme where you can deposit cryptos and earn interest for a fixed/ flexible period. The interest rate varies for different cryptocurrencies.
  • Kucoin Spotlight – It is a token cum crypto projects launching platform where users can participate and earn profits with low risk involved. 
  • Kucoin Pool – It is a high-performance mining pool that provides miners with the lowest mining fees and optimized mining algorithms for higher mining efficiency. 
  • Kucoin NFT – Windvane is an NFT marketplace powered by Kucoin to buy, sell, and showcase NFT collections. It also promotes programs to identify talented artists and empower them through their NFT arts. 
  • Kucoin Wallet – it is a self-custody wallet where users have full control of the wallet keys. You can store all digital assets in this wallet including NFTs. 
  • Kucoin trading bot – an essential trading bot advisor for your trading needs. Specially designed for novice traders. It helps to earn better and reduce losses based on emotional trading. A trading bot is basically a pre-written trading strategy, once you select it the orders will be automatically executed whenever the conditions are met. You can create your own trading strategy or choose from an array of trading strategies from the Kucoin exchange. 

Cryptocurrencies available on Kucoin

Kucoin offers more than 700 cryptocurrencies. So if any trader is interested in a wider portfolio, they will definitely find this exchange more appealing. Some of the popular cryptocurrencies are

  • Bitcoin
  • Dogecoin
  • Ethereum
  • Polkadot
  • Shiba Inu
  • XRP
  • Cardano
  • Polygon
  • Litecoin
  • Tron
  • Uniswap

How to register on Kucoin?

Opening an account in Kucoin is very easy. Let us learn to create an account on Kucoin

  1. Log on to the Kucoin website and click [sign up]
  2. Type your email address and 6 digit verification code that has been sent to your email address. Click [Activate account]
  3. Upon activation, you will unlock a mystery box where you can get up to $10 in rewards
  4. Click on the profile section and complete KYC verification (ID/ passport/ Driving License) to unlock all features such as a high withdrawal limit, high leverage, and a high trading limit on Kucoin
  5. You can do KYC verification on the mobile app as it is easy

Services available for verified and unverified accounts

Services Daily Limit if unverified Daily Limit if verified
Withdrawals 1 BTC per day 200 BTC per day
P2P trading 2000 USD per day 500,000 USD per day
Fiat Deposits Unavailable Available

How to buy crypto

Let us buy cryptocurrency on Kucoin

  1. Log in to your Kucoin account
  2. Click [Buy Crypto] and click [Fast trade]
  3. Select the fiat/ cryptocurrency you want to spend and the cryptocurrency you want to buy from the drop-down menu
  4. Select the payment method debit/ credit cards/ bank transfer/ Banxa/simplex/ BTC Direct etc. Make sure your debit/ credit card is linked before purchasing. 
  5. Review and confirm the transaction 
  6. You will get a confirmation receipt once the transaction is completed

How to sell crypto

Let us learn to sell crypto on Kucoin

  1. Login to Kucoin account
  2. Click [Buy Crypto] & Click {Fast Trade}. Then Click [Sell]
  3. Select the crypto you want to sell and type the amount
  4. Select the Fiat currency you want to receive
  5. Click the receiving method (Bank Transfer/ Simplex/ Banxa) etc
  6. Click [Verify Now]
  7. Confirm the details
  8. You will get a transaction receipt once the transaction is completed

How to deposit cryptocurrency on Kucoin?

Let us learn to deposit cryptocurrency on Kucoin

  1. Log on to kucoin.com and click [deposits] in the header section
  2. Select [Deposit crypto] and select the cryptocurrency you want to deposit and the correct network
  3. Now copy the deposit address and paste it into the withdrawal platform, then deposit coins into the relevant Kucoin account

Make sure that the network you have chosen is the same, or else you may lose the funds. 

How to withdraw cryptocurrency on Kucoin?

Before withdrawing cryptocurrencies from Kucoin you need to configure security settings and enable 2-factor authentication. This can be done in less than 10 minutes. 

  1. Login to kucoin.com and click [withdraw] in the header section
  2. Select the coin you want to withdraw
  3. Select the wallet address and select the right network
  4. Select the cryptocurrency amount and click [confirm]
  5. Fill in the trading password, verification code, and 2FA code once the security window pops up, and submit the withdrawal request

Exchange fees and supported payments

Kucoin charges its customers on the basis of trading volume and the number of KCS holdings in the last 30 days. They have categorized users into  VIP levels based on this. Level 1 is the lowest and level 12 is the highest. For a new user, the maker and taker fee is 0.10%. However, if you are paying fees in KCS there is an additional discount of 20% on trading fees. 

The maker fee is 0.005% and the Taker fee is 0.025% for VIP level 12 customers. 

There are no deposit fees. But, there is a minimum withdrawal amount and withdrawal fee for each cryptocurrency. 

Mobile App

Kucoin mobile is a highly rated app that can be used to check portfolios, trade while on the move, track updates in the crypto industry, and many more. It is available on both the Apple and Google app stores. Kucoin offers lesser trading fees with the smooth execution of orders. 

Customer Support

Kucoin has a help section where you can find answers to your queries. You can also submit an email support ticket meanwhile. There is no call support

Kucoin has launched an exclusive technical support team to resolve customer issues in a better way. Users can mail their queries to [email protected] which will be replied to by the technical support team in 48 hours. 

Technical support range includes

  1. An exception occurred while using the API
  2. Network connection failure while using KuCoin products
  3. API access encountered an error
  4. Product bugs and security issues
  5. Technical cooperation
  6. API optimization recommendations

It has also got a chatbot, Kucoin Emilia, for solving topic-related queries and also connecting to a live agent by providing your registered email address. 

Referral Program

The referral program allows you to invite friends and start earning when they trade and complete tasks like registration, KYC verification, first trade, first staking, etc. For each completion of the task, you will earn a star. The more stars you earn, the higher levels you will reach and claim the better prizes. 

Kucoin Referral Program criteria's

The users can keep inviting friends and get more stars on the successful completion of tasks. They can redeem the prizes at any level they choose. The highest award is 1000 USDT for a level 10 user. Click here for more details 

Kucoin mystery box prizes

Kucoin Affiliate Programme

If you are an influencer with a community/ followers of more than 5000, then you can apply to become an affiliate. You can create a unique referral link with the exchange and invite your community followers to join Kucoin. Anyone registering from your referral link will qualify as a referee. On successful registration and trading, you will receive a 50% commission on trading fees for a lifetime. You are also eligible to get second-tier commissions.

Click here to know more

Level Commission rate Time Trading Volume Number of Valid Invitees
Level 1 50% Lifetime 500 BTC 100
Level 2 45% Lifetime 50 BTC 20
Level 3 40% Lifetime 10 BTC 5

Recent updates

01 Dec 2022 – Kucoin Exchange affiliate program upgraded where the affiliate will earn 50% commission of their referees trading

30 Nov 2022 – KuCoin Exchange Trading Bot has added CARE/USDT trading pair

11 Nov 2022 – Kucoin Exchange will offer zero fees to buy cryptos with USD, EUR, GBP, CAD, and AUD via Visa/Mastercard on the KuCoin channel

Conclusion

The People’s Exchange Kucoin is a centralized cryptocurrency with more than 700+ digital assets. The mode of trading is smooth and beginner friendly. In addition to that, it provides very good referral and affiliate programs for extra earnings. The trading fee is very minimal than other exchanges.

A new user will get $10 in rewards and also get a chance to win a mystery box that contains several discounts and rebates for trading. Kucoin is a user-friendly platform for advanced traders however, their mobile app needs to be improved in terms of performance. Kucoin gives you a self-custody wallet to store all your digital assets including NFTs in one wallet. 

Though the Kucoin exchange had security hacks, they have recovered losses and reimbursed affected users. However, a security hack of this magnitude is a serious concern for traders. Kucoin is not licensed in the U.S. but if you are a nonresident of the U.S., Kucoin is a great choice for trading. 

FAQs

Is Kucoin available in the U.S.?

Kucoin is not licensed in the U.S. However, you can use Kucoin with an unverified account which will have limited functionalities. We highly recommend you use Gemini, Coinbase, and Binance.US if you are a U.S resident

Is Kucoin Safe?

Yes, Kucoin is safe to use. Even though it had a security hack in 2020, all the losses have been recovered and affected users have been reimbursed. However, a security hack of this magnitude is a major concern. Kucoin follows industry-standard safety features like 2-factor authentication, device restriction, IP address change restriction, antiphishing phrases, etc. In addition that there is a trading password to authenticate transactions. 

Is Kucoin Safe?

Yes, Kucoin is safe to use. Even though it had a security hack in 2020, all the losses have been recovered and affected users have been reimbursed. However, a security hack of this magnitude is a major concern. Kucoin follows industry-standard safety features like 2-factor authentication, device restriction, IP address change restriction, antiphishing phrases, etc. In addition that there is a trading password to authenticate transactions. 

Can I use Kucoin without KYC verification?

You can technically use Kucoin without KYC verification however, such accounts have limited functionalities like limited withdrawals, limited buying options, etc. So in order to get the best functionalities we recommend you do KYC verification. 

Is Kucoin expensive?

Kucoin offers minimum trading fees of 0.10%. In addition to that 20% discount if you are paying trading fees in Kucoin Token (KCS). There are no other hidden charges or convenience fees. There are no deposit charges. However, for withdrawal, the charges vary on cryptocurrencies. 

Why is Kucoin called ‘The People’s Exchange’?

Kucoin’s top priority is user delightment. They have a dedicated team to listen to customers and continuously improve products and features to give a better experience to their end users. They also empower blockchain projects with long-term goals in mind and with these initiatives they are called ‘The People’s Exchange



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Gemini Exchange Review – Fees, Safety, Support & Trading

December 22, 2022 by Felix


Introduction

Cryptocurrency is the future of money. If relevant exchanges don’t provide a conducive, secure, and convenient environment for consumers to invest in cryptocurrency, the industry will fail. That is the main motive behind creating Gemini Exchange – a U.S based cryptocurrency exchange

Today let us have a detailed review of Gemini 

Overview

Official Web Address https://www.gemini.com/
Headquarters New York, United States
Country of Origin United States
Founder Cameron Winklevoss, Tyler Winklevoss
Founding Year 2015
Exchange Type Centralized
Trading Options Spot trading
Trading fees Maker Fees – 0.20 – 0.00% & Taker Fees – 0.40-0.03%
Trading pairs 20+
Native Token Gemini Dollar (GUSD)
Deposit methods ACH, Wire Transfer, Credit/ Debit Cards, Apple/ Google Pay, Cryptos
Deposit fees Zero
Withdrawal methods ACH, Wire transfer
Withdrawal fees Depends on cryptocurrency
Supported Countries 60+
Restricted countries 7+
Supported Fiat currencies USD, AUD, CAD, EUR, GBP, SGD, and HKD
Mobile App Available on Google & Apple App Store

What is Gemini Exchange?

Gemini is a centralized, NYFDS-licensed cryptocurrency exchange founded in 2015 by Winklevoss Brothers (Tyler Winklevoss & Cameron Winklevoss). Winklevoss brothers are famous for the lawsuit against Mark Zuckerberg for stealing their Facebook idea. 

Winklevoss brothers started the company to provide a safe and compliant exchange to store and trade cryptocurrencies.  Gemini is founded on four pillars – product, security, license, and compliance– to gain users’ trust. Gemini has its own stablecoin Gemini Dollar (GUSD). 

Gemini is also the world’s first cryptocurrency exchange and custodian to complete SOC 1 Type 2 & SOC 2 Type 2 examinations. 

Gemini serves

  • Individual traders to buy, sell and store digital assets 
  • Corporations to acquire and store digital assets as well as incorporate them into their business
  • Fund Managers & ETF issuers for fund solutions
  • Wealth & Asset Managers – to provide digital solutions 
  • Hedge funds & liquidity providers – to trade cryptos

The institutional products offered by Gemini include

  • Gemini BITRIA – Digital Asset Custodian for Wealth & Asset Managers
  • Gemini Prime – Prime Brokerage Services
  • Gemini Custody – Custody solutions
  • Gemini Clearing – Gemini acts as a confirming third party in pre-arranged transactions, helping ensure timely Settlement while mitigating counterparty risk
  • Gemini Settlement – Gemini acts as 3rd party for Crytpo trade Settlements
Gemini Exchange Homepage

Features

  • Gemini Exchange – Easy on the eye trading platform where users can buy, sell and hold cryptocurrencies. It provides clean market trends and can manage your portfolio very smoothly
  • Trading fees – Trading fees for high volume traders based on 30-day trading volume – Maker fees (0.20-0.00%) & Taker fees (0.40-0.03%). For stable coin trading 0.00% maker fees & 0.01% Taker fees. No fees for deposit. However, a convenience fee is charged for debit & Paypal deposits. 
  • Active Trader – A trading platform best suited for active and advanced traders where they can execute orders in microseconds. It is also optimized for mobile browsers making it travel-friendly. 
  • Staking – You can now earn by staking your cryptos on the Gemini platform. There is no minimum amount for staking and no transfer/ redemption fees for staking
  • Cryptopedia – The exchange believes only if we empower people with crypto education, they will be ready to embrace and accept the future of money. With this mission, they designed Cryptopedia – a one-stop destination for all educational resources related to cryptocurrency, blockchain, and everything related to the crypto world. It is like a blog section where there are 468 articles on 239 topics written by 58 authors. Beginners, as well as seasoned traders, can learn at their own pace

Gemini Exclusive Features

  • Gemini Credit cards -Gemini credit card is accepted wherever Master Card is accepted. You can now earn up to 10% in cashback as cryptos at the fuel pump, 3% back on dining, 2% back on groceries & 1% on everything else. The best part is that there are no annual fees, no foreign transaction fees, and no exchange fees to redeem rewards
  • Gemini Security – Gemini provides world-class security features and are SOC 1 Type 2 & SOC 2 Type 2 Compliant. Consumer protection is one of the core founding principles of Gemini
  • Gemini Custody – For Institutional Grade investors and High Networth individuals, Gemini provides custodial services with industry-leading security. The several security features include 2FA (two-factor authentication) for logins, whitelisting withdrawal addresses beforehand to prevent illegitimate hacks, limiting login attempts, hashed and encrypted passwords and information, and hardware security keys.
  • Gemini Dollar (GUSD) – It is a 1:1 stablecoin backed by USD. The best part is that there are no fees to buy or sell GUSD with U.S. dollars on the Gemini Exchange.
  • Gemini Clearing – It is an anonymous settlement platform that allows two parties to settle a trade-off in the order book. Gemini acts as a confirming third party in settling transactions and reducing counterparty risk. Trade details are not published on Gemini’s Market data feed. Best for peer-to-peer trades
  • Gemini Wallet – It offers both insured hot wallets and institutional-grade cold storage to store digital assets. 

Cryptocurrencies available

Gemini supports native coins, supported SPL tokens, and ERC 20 tokens which will amount to 100+ digital assets on its platform. Some of the popular cryptocurrencies on Gemini are

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Filecoin (FIL)
  • Zcash (ZEC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Tezos (XTZ)
  • Solana (SOL)
  • Polkadot (DOT)
  • Avalanche (AVAX)

How to set up a new account

1: Visit the Official Gemini Website. Click [Register] 

2: Fill in the information on the next page. This will include your full name, your email address, and a password. When you are completed with this, read the [user agreement] and [privacy policy].

3: Then click the [Create my account] Option.

4: Verify your email and phone number

5. Provide your date of Birth

6: Complete identity verification by uploading a government-issued photo ID.

It will take around 24-48 hours for account activation

How to buy crypto

You can now buy cryptos very easily on Gemini

How to Buy crypto on the Web interface

  1. Select crypto from the Market page.
  2. Select [Buy] and choose whether you would like to make a single buy (Once) or a Recurring buy.
  3. Enter the order amount then click [Continue]. 
  4. Once you select your payment method, you will automatically navigate to the confirmation screen.  
  5. Review the transaction & click [Confirm] for your order to immediately execute.

How to Buy crypto on the App

  1. Tap on the [Market]
  2. Tap on the crypto you would like to buy.
  3. Tap [Trade], then [Buy] 
  4. Select if you would like to make a Single buy or Recurring buy.
  5. Enter the amount you want to buy and tap [Continue] to select your payment method. 
  6. Review your trade on the next screen and [Swipe to confirm] for your order to immediately execute.

How to sell crypto

How to Sell crypto on the Web interface

  1. Select crypto from the Market page.
  2. Confirm that [Sell] is selected.
  3. Enter the quantity you want to sell then click [Review Order] to move to the confirmation screen.
  4. Once reviewed, click [Confirm] for your order to immediately execute.

How to Sell crypto on the App

  1. Tap on the [Market] tab at the bottom left of your screen.
  2. Tap on the crypto you would like to buy or sell.
  3. Tap on [Trade], then [Sell].
  4. Enter the amount of the crypto you want to sell and tap [Review Order] at the bottom of the screen.
  5. Review your trade on the next screen and [Swipe to confirm] for your order to immediately execute.

How to deposit crypto

To deposit supported crypto into your Gemini account, you need to navigate to the Deposit Page Here and follow the steps below:

  1. Select the supported crypto from the dropdown
  2. Select a unique deposit address from the dropdown 
  3. You will then need to instruct your external wallet or service provider that holds custody of your crypto to initiate a withdrawal to this unique Gemini crypto deposit address. This is something that you can only initiate on your end and cannot be done by Gemini.

How to withdraw crypto

To transfer your crypto to an external wallet or exchange, you need to navigate to the Withdrawal Page Here and follow the steps below:

  1. Select the currency from the dropdown 
  2. Select the destination address (this is provided by your external wallet or exchange)
  3. Input the amount (please be aware of common withdrawal holds)
  4. After reviewing the transfer details, select Request Withdrawal

If you are using the Authy app for Two-Factor Authentication (2FA), the withdrawal can only proceed if you approve the transaction on your Authy app within 4 minutes of requesting the withdrawal.

If you receive Two-Factor Authentication codes via SMS, you will receive a text message with your 2FA code to approve the transaction. 

Exchange fees & supported payments

Fees are slightly high compared to other exchanges.  For mobile and web app users, Gemini charges a flat 0.5% above the current trading price (which Gemini calls its “convenience fee”). 

On top of that, it charges a transaction fee, based on the amount traded: a tiered flat fee of up to $200; orders above $200 are charged 1.49%.

WEB ORDER AMOUNT – USD TRANSACTION FEE – USD
≤ $10.00 $0.99
> $10.00 but ≤ $25.00 $1.49
> $25.00 but ≤ $50.00 $1.99
> $50.00 but ≤ $200.00 $2.99
> $200.00 1.49% of your Web Order value

For high volume traders the trading fees are different on the ActiveTrader Platform & is listed below.

30-DAY TRADING VOLUME IN (USD NOTIONAL) TAKER FEE MAKER FEE
0 0.40% 0.20%
≥ $10,000 0.30% 0.10%
≥ $50,000 0.25% 0.10%
≥ $100,000 0.20% 0.08%
≥ $1,000,000 0.15% 0.05%
≥ $5,000,000 0.10% 0.03%
≥ $10,000,000 0.08% 0.02%
≥ $50,000,000 0.05% 0.00%
≥ $100,000,000 0.04% 0.00%
≥ $500,000,000 0.03% 0.00%

For stable coin trading the maker fee is 0.00% & Taker fee is 0.01%

Deposit Fees

There are no deposit charges for cryptocurrencies and bank wire transfer. However Debit & Paypal are chargeable.

DEPOSIT FEES COST
All cryptocurrencies, ACH, Gemini dollar (redemption) Free
Wire Transfer Free
Debit Card Transfer 3.49% of total purchase amount
PayPal 2.50% of total deposit amount

Mobile Apps

Gemini Mobile App allows you to buy, sell and stake cryptos. The best part is that you can earn in cryptos as cash back every time you purchase with Gemini Card. Moreover, the fees on purchase are slightly high on the mobile app

Referrals

Gemini offers a referral program where when the referee completes a trade of 100$ in the first 30 days, the referrer can get $10 in bitcoin. 

Gemini Affiliate Program – If you are a content creator, influencer, or crypto world leader, you can tie up with Gemini and earn a commission for every new active user you bring into the system. 

All you need to do is simply follow the steps mentioned below

  • Step 1 – Apply for the affiliate program
  • Step 2 – Gemini will review your application and once approved, you’ll receive a unique referral link to provide to your audience.
  • Step 3 – Begin promoting through your custom link in articles, social media, ads, and other forms of content, and earn commission on every new active customer.

Customer Support

Gemini has a help section where customers can find solutions to their queries. It is basically articles on various topics and FAQs. In addition to that Gemini has a Chat support section but it is a Chatbot chat box where the bot finds answers to queries. For further help, you can raise an email ticket to the support team here

Conclusion

Gemini is an NYDFS (New York State Department for Financial Services) licensed cryptocurrency exchange whose top priority is digital asset security and consumer protection. Gemini is licensed in New York as a Trust Company. It is regulated under New York Banking Law, by the New York State Department of Financial Services. They are a fully secured platform.

They have over 70 digital assets and offer spot training as their main trading line. However, the transaction and other fees associated with it are higher compared to other platforms. They have special products for institutional-grade investors. 

Gemini is best for

  • Cryptocurrency traders.
  • Peer-to-peer trading.
  • Crypto-to-crypto trading.

If you are looking for long-term investment purposes with world-class security features, Gemini is a good option. But if you are a short-term trader you need to look for other options. 

FAQs

What is the reason behind the name ‘GEMINI’?

As Winklevoss Brothers explain, Gemini is a Latin word for ‘Twins’. It also explores the concept of duality. They were drawn to it as they believed it had a connection with the concept of the duality of money (Old money & New money). Moreover, NASA’s project Gemini was launched with the purpose to land a man on the moon which will be a “bridge to the moon”. Same way Gemini will serve as “your bridge to the future of money”. Thus the name Gemini was given to the centralized exchange. 

How long does it take to verify my Gemini account?

It takes about 24-48 hours to verify your Gemini account

Can you buy an NFT from Gemini?

Yes, Gemini has its own NFT Market Place called Gemini Nifty Trade. A user can browse the latest collection of NFT and its lowest bid rate after successful verification of their account. 

What is Gemini Earn?

Gemini Earn allows customers to generate yields by lending their crypto assets to a borrowing counterparty. Currently, Gemini Earn is halted following the FTX fall

Gemini exchange Ratings

  • Currency Support
  • Online Reputation
  • Fees
  • Customer Support

Pros

  • Strong reputation backed by two leading investors
  • Dollar-to-crypto and crypto-to-crypto trading
  • Straightforward registration process
  • Discounts and rebates for high-volume traders

Cons

  • A limited selection of altcoins
  • Limited funding methods
  • Additional mobile transaction charges
  • Only accepts clients from the US, not open to the rest of the world.



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A Global exchange for beginner & Pro traders

December 22, 2022 by Felix


Introduction

Are you looking for more passive earning options with cryptocurrencies? A centralized exchange with low fees and a wide variety of popular tokens that supports more fiat currency? An exchange that has never been hacked and is easy to use? We have an answer, Okx, previously called Okex Exchange is one of the most preferable exchanges in the world.

Overview

Official Web Address https://www.okx.com/en-in 
Headquarters Seychelles
Country of Origin China
Founder Star Xu
Founding Year 2017
Exchange Type Centralized
Trading Options Spot, margin, derivative, crypto-to-crypto trading, perpetual swaps trading, DeFi, Lending, Mining Services
Trading fees 0.10% maker and 0.10% taker fees, 20% discount for KCS payment
No of cryptocurrencies 100+
Native Token OKX Token (OKT)
Deposit methods Master Cards (Debit/ credit card), P2P express
Deposit fees No deposit fees for cryptocurrencies
Withdrawal methods Bank transfer, Wire Transfer
Withdrawal fees Depends on cryptocurrencies
Supported Countries 180+
Restricted countries 10+
Supported Fiat currencies 90+
Mobile App Available on Google & Apple App Store

What is Okx Exchange?

OKX is a Seychelles-registered cryptocurrency exchange Founded in 2017 By Star Xu. Initially, it was known by the name Okex, but in Jan 2022, it rebranded itself as Okx. It offers spot, margin, futures, options trading, lending, and mining services. The current CEO of the company is Jay Hao. 

Okx was first registered in Beijing, China. Then, it moved to its present headquarters in Seychelles as China banned cryptocurrency. Okx has its own native coin OKC Token. Now, Okx currently serves more than millions of customers from more than 180 countries.  

With Okx you can now

  • Easily trade hundreds of tokens and trading pairs
  • Manage your DeFi portfolio
  • Create and trade NFTs
  • Discover top decentralized applications, including DeFi and blockchain gaming DApps.
  • Connect to DeFi with our Web3 wallet via our app or browser extension.
  • Earn crypto in our mining pools, take out crypto collateralized loans, and discover other ways to grow your crypto with OKX Earn.
OKX exchange Home page

Features

  • Trading Options – Okx offers spot, margin, Futures, and options trading on its platform
  • Trading Fees – For regular users maker/ taker fee is 0.080% & 0.100% respectively. For VIP user maker/ taker fee is 0.060% & 0.080% respectively.  There is a considerable decrease in trading fees as your 30-day trading volume and digital assets increase
  • Earn – Okx offers various earning methods through which you can generate an income passively. You can now earn hourly interest using a savings scheme with a flexible time period. With staking you can earn up to 15% APY for 90 days or a flexible time period. Dual investment offers up to 36.4% APY and fixed income gives stable but low returns for your assets. So depending on the type of risk and reward ratio you can select your own customized earning program and benefit from it. Flash interest is a high-risk, high-return program where you can get interest rates up to 500% and the time period is less than a week. 
  • Crypto Loan – You now borrow crypto by giving another crypto as collateral. This has a floating interest rate and interest will be calculated hourly.  
  • Jumpstart – It is a launch platform for blockchain projects. Users can subscribe to promising projects and earn income passively. Currently, Okx allows mining and on-sale alternatives for users. 
  • Learn – Okx has an exclusive learning section for both beginners and veteran users. It has more than 811 articles on various topics like bitcoin, blockchain, okx products, how-to tutorials, etc. 
  • Referral – With an Okx referral, you can mystery boxes every time a friend joins okx using your referral link. There is no limit to mystery boxes. You can earn many times.
  • Affiliate – If you are an influencer with larger followers you can opt for this program where you will earn 50% of your referee’s commission in trading fees. 

Okx Exclusive Features

  • Okx Pool – Okx pool help miners to get a good revenue by providing an amazon pool platform where they could earn by stable mining. 
  • OKB – it is the utility token of Okx. Users with Okx get discounts on trading fees, get passive income with Okx earn, and many more
  • Okx Proof of reserve – Proof of reserve is an initiative by the crypto exchanges to show how client assets are backed by real assets in a 1:1 ratio. With this users can be sure that the company is transparent and trustworthy. 
  • Okx Wallet – It is a wallet where you can store all digital assets in one place including NFTs and DApps. 
  • Okx Ventures – it is a subsidiary of Okx that supports and invests in promising blockchain companies and crypto companies

Cryptocurrencies Available on Okx

Though Okx offers more than 100 cryptocurrencies for its users, some of the popular cryptocurrencies on its platform are 

  • Bitcoin
  • Ethereum
  • Tether
  • USD Coin
  • Matic
  • XRP
  • DogeCoin
  • Cardano
  • OKC Token

How to Create a New Account on Okx?

Let us create a new account on Okx

  1. You can sign up on Okx using your email id/ mobile number
  2. For superfast signup log in with your Google account
  3. Congratulations, Your account is open now. 
  4. In order to unlock the full potential of Okx, verify your account
  5. Chose an individual/ corporate account and update your nationality
  6. Provide your first name and last name
  7. Provide Id Name and Number. The ID can be a driver’s license, passport, or any government-issued photo ID like tax ID, ELection ID, etc
  8. Complete the photo verification by capturing a photo ID using a webcam or mobile.
  9. It may take 24 hours to fully verify from the Okx team. Once you are verified your withdrawal limit automatically increases. 

How to Buy Cryptocurrency on Okx?

Let us learn how to buy cryptocurrency on Okx. Identity verification is a mandatory step before buying cryptocurrency in Okx.

  1. Log on to okx.com
  2. Click on [Buy Crypto] on the header
  3. Choose your fiat currency and type the amount to buy your selected cryptocurrency
  4. Pay with a debit/ credit card or P2P express or BuyUcoin. Choose the right payment method and Agree on the terms and conditions
  5. You will get a confirmation message once the transaction is completed

How to Sell Cryptocurrency on Okx?

Let us learn to sell crypto on Okx

  1. Click on [Buy Crypto] in the header and Click [Buy with card]
  2. Click on the [Sell] option
  3. Type the amount of cryptocurrency you want to sell
  4. And Click sell
  5. Select the payment wallet you want to receive payment
  6. Confirm the details
  7. You will receive a confirmation receipt

How to Deposit Cryptocurrency on Okx?

Let us learn how to deposit cryptocurrency on the Okx exchange

  1. Log on to okx.com
  2. Click on [Deposit Crypto]
  3. Select the cryptocurrency you want to deposit 
  4. Choose the correct network. Or else you may lose assets as mistakes are irreversible
  5. Click [Continue]
  6. Choose and confirm your location
  7. Choose the funding/ trading account where you want to receive assets
  8. Choose the deposit address and copy/ paste it into the withdrawal section of the other exchange from where you want to transfer assets.
  9. Confirm the details and click [Continue]
  10. You will get a confirmation receipt once the transaction is completed

How to Withdraw Cryptocurrency on Okx?

Let us learn how to withdraw assets from okx

  1. Log on to okx.com
  2. Hover on the assets tab and click [withdraw]
  3. Choose the asset you want to withdraw
  4. Select the right network
  5. Fill in and confirm the withdrawal details
  6. Input the withdrawal address
  7. Click [Continue] after you have double-checked the details
  8. Enter your Funds password and SMS code
  9. You will get a confirmation receipt once the transaction is completed

Exchange Fees & Supported Systems

Okx exchange uses a maker/taker fee model for charging trading fees from its users. Market makers are charged less than market takers. In addition to that, Okx also gives many discounts to users holding more OKB tokens and with high-volume trading. 

For regular users, the maker/ taker fee is 0.080% & 0.100% respectively. 

For VIP user maker/ taker fee is 0.060% & 0.080% respectively. 

 There is a considerable decrease in trading fees as your 30-day trading volume and digital assets increase

Regular users are categorized based on the trade volume and OKB holding. VIP-level users are categorized based on the assets they hold and 30-day trading volume

Tier Total OKB holding Assets (USD) or 30-day trading volume (USD) Maker fee Taker fee 24h withdrawal limit (BTC)
Lv1 < 500 < 100,000 / < 10,000,000 0.08% 0.10% 500
Lv2 ≥ 500 < 100,000 / < 10,000,000 0.08% 0.10% 500
Lv3 ≥ 1,000 < 100,000 / < 10,000,000 0.07% 0.09% 500
Lv4 ≥ 1,500 < 100,000 / < 10,000,000 0.07% 0.09% 500
Lv5 ≥ 2,000 < 100,000 / < 10,000,000 0.06% 0.08% 500
Tier Assets (USD) or 30-day trading volume (USD) Maker fee Taker fee 24h withdrawal limit(BTC)
VIP 1 ≥ 100,000 / ≥ 10,000,000 0.06% 0.08% 600
VIP 2 ≥ 500,000 / ≥ 20,000,000 0.05% 0.07% 800
VIP 3 ≥ 2,000,000 / ≥ 50,000,000 0.03% 0.06% 1,000
VIP 4 ≥ 5,000,000 / ≥ 100,000,000 0.02% 0.05% 1,200
VIP 5 ≥ 10,000,000 / ≥ 200,000,000 0.00% 0.04% 1,500
VIP 6 — / ≥ 500,000,000 0.00% 0.03% 1,800
VIP 7 — / ≥ 1,000,000,000 -0.01% 0.03% 2,000
VIP 8 — / ≥ 10,000,000,000 -0.01% 0.02% 2,000

Okx Proof of Reserve

Since FTX’s fall, it has become a necessity to showcase proof of reserve of cryptocurrency exchanges. With this in mind, Okx exchange is one of the leading pioneers in the industry to showcase proof of reserve to its customers to gain trust and credibility

Referral

With the Okx referral program, you unlock a mystery box that contains gifts worth $10,000.

Steps to follow 

  1. Ask your friend to open an Okx account using a unique referral link
  2. Both of you can get a mystery box with an exclusive gift when the friend signs up within 30 days
  3. Check out and claim the mystery box
  4. Both of you will get another mystery box when your friends deposit or trade for $50 or more. 
  5.  Every Mystery Box comes with crypto rewards worth up to $10,000. The rewards include BTC, ETH, OKB, DOGE, FIL, SHIB, DOT, and rebate cards. Claimable rewards can be viewed on “Referral – History”.
  6. There is no limit on how many Mystery Boxes you can receive. The more friends you invite, the more you get. 

Affiliate Programme

If you are an influencer with a large number of followers you can benefit from the affiliate program. Apply for the affiliate program and get 50% of your invitee’s trading fees as your commission on the Okx exchange. 

You can promote affiliate links on videos, blogs, social media, and website ads. This is a lifetime offer and has no time limit. 

You can also earn with other co-inviters where you can earn up to 30% of invitees’ trading fees

Customer Support

Okx exchange has a dedicated help section that contains topics for troubleshooting problems and FAQs. If you are still not happy with the help section, you can chat with the Chatbot where you have to specifically type your query. Again it will give you related article links from the blog section. We are not truly happy with the customer support as there is no phone support or email for immediate issues.

Recent Updates

02 Dec 2022 – Okx exchange kicks off the second football cup NFT to those who joined the Okx football festival Staking rewards

25 Nov 2022 – Okx exchange features promotional offers for EU & UK users to Buy crypto with ZERO fees using a debit/credit card from 01 Dec 2022 to 14 Dec 2022. 

23 Nov 2022 – Okx exchange released ‘Proof of Reserve’ on its website to maintain transparency of the firm

Conclusion

Okx exchange, previously known as Okex, is an innovative cryptocurrency agency that is friendly for both beginners and experienced traders. It offers some of the best passive earning programs like staking, fixed-income scheme, dual investments, and referral/ affiliate bonus. 

As it uses a lightning network, the trade orders are smoothly executed without any delay. The trading fees are reasonable and if you are a high-volume trader or OKB holder you will get additional trading discounts. 

Okx exchange offers mystery boxes to new users which can contain prizes with $10,000 or cryptos in equivalent. The learning section is a plus point for beginners to start their crypto journey.

The verification process usually finishes in one day but, if there is more queue it can take up to 3-4 days. Okx has never been hacked and has got world-class safety features to protect customer funds. The exchange recently published Proof-of-reserve which shows that user assets are backed to real assets in a 1:1 ratio. Okx is one of the few companies to publish proof of reserve post-FTX crash. 

The only problem is that it is not available in the United States, Canada, United Kingdom, Iran, Syria, Bangladesh, and 10 other countries. 

Okx exchange is definitely a good exchange for you if you are a beginner or intermediate trader. 

FAQs

Is Okx available in the U.S.?

Okx is currently not available in the U.S.

Is Okx good for beginners?

It has a simple platform that works well both for beginners and intermediate traders. The app is simple and easy on the eyes. There is a helpful article for beginners in the help section of the website. 

Is KYC verification mandatory in Okx?

A user can deposit and start trading without KYC verification. However, recommend you do KYC verification to use the full feature and benefits from Okx. 

What network does Okx use?

Okx uses the Lightning network to deposit and withdraw BTC. A lightning network is a decentralized payment protocol that allows instant, off-chain transactions on a blockchain, such as Bitcoin

Okex Exchange Ratings

  • Currency Support
  • Online Reputation
  • Fees
  • Customer Suppor

Pros

  • Simple and easy to use charts
  • Over 100 cryptocurrencies supported
  • Fiat to cryptocurrency support
  • High-level trading platform
  • Leverage trading
  • Inbuilt software wallet

Cons

  • Not available in the US
  • Can be complicated to use
  • No Demo Account
  • CNY only fiat currency supported



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Complete Review On Crypto.com Exchange 2021

December 21, 2022 by Felix


Introduction

In a race to get the best out of the crypto world, everyone is in a search of safe, user-friendly cryptocurrency exchange. Which one to choose out of the plethora of exchanges on the internet? Today let us review crypto.com. In this crypto.com exchange review, we will analyze the pros, cons, features, app, and the overall rating

Overview

Official Web Address https://crypto.com/
Headquarters Singapore
Country of Origin China
Founder Kris Marszaelk, Rafael Melo, Bobby Bao, Gary
Founding Year 2016
Exchange Type Centralized
Trading Options Spot, Derivatives, Margin, OTC, Warrants
Trading fees 0.00-0.075% Maker Fee, 0.05 – 0.075% Taker Fee
Trading pairs 100+
Native Token Cronos (CRO)
Deposit methods ACH bank Transfer, Bank wire transfer, Google Pay, Apple Pay
Deposit fees No deposit fees
Withdrawal methods ACH bank transfer, Bank wire transfer
Withdrawal fees Varies from crypto-to-crypto
Supported Countries 90+
Restricted countries 7+
Supported Fiat currencies 20+
Mobile App Crypto.com App on Google & Apple Play store

What Is Crypto.com?

Crypto.com is a centralized cryptocurrency exchange that was founded in 2016 by a group of founders – Kris Marszalek, Rafael Melo, Bobby Bao & Gary with a vision of ‘cryptocurrency in every wallet’. Initially, the company name was Monaco. But in 2018 they rebranded as crypto.com after purchasing the domain from a cryptography professor. 

So what can you do on crypto.com?

  • Buy, sell and trade 270+ cryptocurrencies
  • Stake and earn up to 14.50% interest
  • Buy, sell and showcase NFT on its NFT Marketplace
  • Get a loan/ credit with a lenient payback period
  • Customized debit cards for shopping

Crypto.com has its own native coin ‘Cronos’ (CRO). The best part is that if you are buying Cronos and staking it, you will get more rewards and an additional discount on the trading fee. In addition, they offer a wide variety of reward programs and benefits for their customers. You can explore it in the features section

As of now, Crypto.com has 70 million active users across 90 countries and 2.5 million followers on Twitter. 

crypto.com exchange homepage

Features of Crypto.com 

  • Crypto.com App – A mobile app for trading cryptocurrencies with more than 20 supported fiat currencies enabling you to trade anytime, anywhere you want. 
  • Crypto.com NFT Marketplace – It is an exclusive NFT Market place where you can buy, sell and showcase NFT collections. 
  • Crypto.com VISA Cards – An exclusive debit card that has no annual fees and can use fiat/ cryptocurrency to top up the card. The best part is you will be paid in cryptocurrency [CRO] on every successful purchase
  • Crypto Earn – A deposit scheme where you can earn up to 14.5% for holding your cryptos in your wallet depending on the flexible/ fixed time period. 
  • Crypto Credit – Now you can borrow up to 50% of the collateral in your wallet with an 8% p.a interest rate. What do you have to do? Simply deposit cryptocurrencies, get 50% of the collateral as a loan directly credited to your wallet, and pay it back whenever you want. 
  • Exchange Home – The available trading options include – spot, margin, and derivatives trading. You can get 10x leverage for margin trading. The best part is you can buy newly listed tokens with a 50% discount
  • Trading fee – The maker & Taker fee is 0.0750%. For high-volume traders and market makers, the maker fee is zero, and the taker fee can go as low as 0.02%. 
  • Crypto.com DeFi Wallets – It is a non-custodial wallet where you have full control of your private keys. More than that it is a one-stop destination to access all DeFi services available in the market. It is available as a Mobile and Desktop App
  • University – A learning section where beginners and advanced traders can be enlightened about cryptocurrencies, blockchain, etc. Moreover, the learning section provides industry-leading insights on cryptocurrency product news, trending stories, events, NFT, market updates, etc.

Cryptocurrencies Available on Crypto.com

It offers more than 270+ cryptocurrencies on its platform. Crypto.com has its own native coin – CRONOS (CRO). If you stake CRO, you can earn up to 14.50% interest rates and also discounted trading fees and rewards in crypto.com debit cards. 

Some of the fast-moving cryptocurrencies are

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • BNB (BNB)
  • USD Coin (USDC)
  • Binance USD (BUSD)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Polygon (MATIC)
  • Polkadot (DOT)
  • Dai (DAI)

For a full list of cryptocurrencies on crypto.com, click here 

How to Set Up an Account on Crypto.com?

You can set up an account using the Crypto.com website or Mobile App. Make sure you have Govt issued photo id with you and also, you must at least 18 years old to start an account. 

Let us explore the steps to register your account

  1. Visit crypto.com and click [Sign Up]
  2. Provide necessary details full legal name, date of birth, nationality & email address
  3. Verify your email with OTP.
  4. Create a secured password for the exchange and click submit. 
  5. Verify your phone number with an SMS verification code
  6. Verify your identity in the account verification process by uploading a Govt issued photo ID and a selfie
  7. Once the crypto.com team verifies it, you can have full access to exchange features. 

How to Buy Cryptocurrency on Crypto.com?

There are numerous ways to buy cryptocurrency using crypto.com. It includes bank transfers, credit/ debit cards, crypto-to-crypto transfers, etc. 

Let us explore how to buy cryptocurrency using a credit/ debit card.

  1. Tap [buy] and select the crypto you want to purchase.
  2. Add your credit/ debit card by entering card details like name, expiry, and CVV
  3. To verify the card, a small amount of $0.10 SGD will be temporarily held for up to 7 days and will be refunded. Confirm this transaction in order to complete the process. 
  4. Once complete, come to the accounts page. Tap the [buy] button, enter the desired amounts & select credit/ debit card as the source of funds
  5. Confirm the transaction with your passcode/ fingerprint and the transaction will be processed.

How to Sell Cryptocurrency on Crypto.com?

Crypto.com users can withdraw USD from the App by selling crypto to their USD fiat wallet and transferring USD funds from this wallet to their U.S. bank account(s) on the ACH network.

How to sell Crypto to Fiat?

  1. Open the Crypto.com app
  2. Tap on “Accounts”
  3. Select “Fiat Wallet”
  4. Select “Sell Crypto”
  5. Select the cryptocurrency you’d like to convert to Fiat.
  6. Select the ‘Cash’ option.
  7. On the Sell screen, you can enter the amount you wish to convert. (If you tap on the field where you enter the amount, the app will suggest the maximum amount you can sell.)
  8. You will see a confirmation window showing the actual current value of the coin in fiat money for 15 seconds. Please pay attention to that window as it shows the amount of fiat money you are getting for the coin at that time.

How to Deposit Cryptocurrency on Crypto.com?

Crypto.com does not support all tokens. Check here for the complete list of supported tokens on crypto.com

Let us explore the steps to deposit crypto on crypto.com

  1. Tap on the “Transfer” button > “Deposit” > “Crypto”
  2. Select the cryptocurrency you want to deposit 
  3. A pop-up will appear with your deposit address and its QR code. 
  4. Copy and paste the address to your crypto wallet (or scan the QR code) as the receiving address (you can also send it to yourself or your friends by tapping the Share button). 
  5. Select the amount of crypto you want to deposit and submit/broadcast the transaction. Remember that to transfer ERC-20 tokens, you will need to have some ETH in your wallet to pay the transaction fees.

Once the transaction is on the blockchain, it will take the following number of confirmations for the deposit to appear in your Crypto.com App

When it does, you will receive an email notification about the successful deposit.

How to Withdraw Cryptocurrency From Crypto.com?

2FA is required for cryptocurrency withdrawals. 

  1. Open the Crypto.com App and go to “Accounts”
  2. Open your Crypto Wallet
  3. Press the “Transfer” button
  4. Press “Withdrawal”
  5. Select “External wallet”
  6. Locate and select the whitelisted wallet address.
  7. Enter your passcode or confirm using a biometric ID.
  8. Enter the 2FA authentication code generated by your authenticator app.
  9. Tap on ‘send’ to receive an SMS message containing the mobile verification code. (the code will be valid for 5 minutes)
  10. Enter the mobile verification code.
  11. Enter the amount and press “Withdraw”

Wait for the withdrawal to be processed. 24-48 hours to process a withdrawal. 

Fees And Supported Payment Types

Trading fee is one crucial criterion every investor looks for when selecting the best exchange for trading needs. Crypto.com has understood this and has reflected this in its volume-based trading program. 

However, for a new/ regular trader, the maker and taker fee is 0.0750% if their trading volume is ≤ 250,000 (USD) for both spot and margin trading. But, if the user opts for any of the below-mentioned trading programs, their trading fee is significantly reduced. The maker fee becomes 0.00% irrespective of the trading volume. However, the taker fee varies depending on the 30-day trading volume. 

Crypto.com provides two unique trading fee programs for traders

  1. VIP Programme
  2. Market Maker Programme

VIP Programme 

In this program, the users are ranked based on their trading volume. VIP Tier 1 is the lowest and VIP Tier 2 is the highest. The VIP program can be applied for both spot trading and derivatives trading. 

Other perks include – dedicated 24/7 account support, robust API connectivity, a secured private link for increased stability, and early access to research reports by the crypto.com research & insight team. 

 You can find the trading fee depending on the trading volume in the below table

VIP Programme – Spot Trading & Derivatives Trading Fees

VIP Tier 30-Day Spot/ Derivatives Trading Volume (USD) Spot Trading – Maker Fee Spot Trading-Taker Fee Derivatives – Maker Fee Derivatives – Taker Fee
VIP 1 ≥ 0.10% 0.00% 0.040% 0.00% 0.024%
VIP 2 ≥ 0.25% 0.00% 0.035% 0.00% 0.022%
VIP 3 ≥ 0.50% 0.00% 0.031% 0.00% 0.020%
VIP 4 ≥ 1.00% 0.00% 0.028% 0.00% 0.018%
VIP 5 ≥ 2.00% 0.00% 0.025% 0.00% 0.015%

Market Maker Programme

An exclusive program for institutional traders who provides liquidity to the exchange. They get bespoke maker fee rebates and taker fees as low as 0.020%. Other perks include 24/7 account support, the virtual private link for increased security, etc

Supported Payments 

Crypto.com accepts bank ACH transfers, wire transfers, and Bank credit/ debit cards as supported payment methods. There is no deposit charge however there is a minimum withdrawal amount and fees which varies from cryptocurrency to cryptocurrency. 

Click here to view the complete list of minimum withdrawal amounts and fees

Fees at a glance

Cryptocurrency & Fiat Deposit Fee Free
Cryptocurrency Withdrawal Fee Depends on Cryptocurrency
Fiat Currency withdrawal Fees $25 USD

In the case of bank transfers, the daily limit is given below. Institutional clients enjoy a free withdrawal fee

Deposit Limits

FEDWIRE/ SWIFT SEN
Minimum $500 USD $500 USD
Maximum Unlimited Unlimited

Withdrawal Limits

FEDWIRE/ SWIFT SEN
Minimum $500 USD $500 USD
Daily Maximum $1,000,000 USD $10,000,000

Referral Commission & Other Services 

Crypto.com offers you an irresistible Referral Programme where you can earn up to $2000 (in CRO) for every friend you refer. More than that you can get a 50% commission on their trading fees for 12 months. There are no referral limits and bonuses are credited instantly. 

Eligibility requirements for referee

Successfully verified their KYC at the advanced level 

Completed their first CRO stake* on the Crypto.com Exchange

Eligibility requirement for referrer

Successfully verified their KYC at the advanced level

Staked at least 1000 CRO on the crypto.com exchange

Please note that this referral program does not count cross-platform entries. Eg:- As a Crypto.com website-only user, the referral code will not be valid for app sign-ups and vice versa. So to be on the safer side referrer must have an account on the same platform as his/ her referrals.

Mobile App

Crypto.com App has a simple user interface where a user can find his portfolio, major assets, market trends & charts in one place. The app is available both on Google and Apple play store. A new user will get an incentive to purchase cryptos using a credit/ debit card without fees for the first seven days on Crypto.com App. 

The app features an In-App University where new users as well as experts can learn more about cryptocurrency, blockchain & everything about the crypto world. A learner may opt for a reward program where he/she achieves ‘Diamonds’/reward points for the completion of the final test. These reward points can be used to redeem mystery boxes that hold a certain amount of cryptos. 

Customer Support

Crypto.com has a help section on its website from where customers can find common troubleshooting problems and FAQs. In case you can’t find the query, you can click on the chat section where bot chat will reply to your queries. Crypto.com does not have a customer support agent via call. 

Conclusion

Crypto.com offers a wide variety of digital assets and gives more benefits to Cronos Buyers. If you are a market maker/high-volume trader/ stakes Cronos, you can become a rockstar on this platform. The rewards and bonuses are plenty for such users. Moreover, the referral program is good for a decent passive income opportunity. 

The only downside is for users who do not want to invest much in Cronos. 

FAQs

Is crypto.com Safe? 

Yes, crypto.com is one of the leading complaint cryptocurrency exchanges that is committed to security first. 100% of the cryptocurrency is stored offline and fiat funds are in bank custody. It has got multi-factor authentication for login and transfer of cryptos.

Are my funds in the Crypto.com App insured?

Yes, Crypto.com has secured a US $100M direct insurance policy led by Arch Underwriting at Lloyd’s Syndicate 2012. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault.

Does Crypto.com hold private keys to cryptocurrency wallets?

Yes, as of now, Crypto.com hold private keys to ensure easier account recovery. Crypto.com assures their user that their data and assets are extremely safe with them as it is in the best cold storage and highest insurance coverage



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KuCoin And Gate.io Plan To List $WBTC On Their Exchange With a Price Pegged At $1

December 10, 2022 by Felix


WBTC is currently, without any doubt, one of the best cryptocurrency projects you can venture in as the year closes. From its previous seed round success, there is a high probability of sales to drive its presale.

More than anyone could have anticipated, the WBTC network protocol launched its ICO after finishing the seed round. Interestingly, the WTC is at the beginning of a real boom once all the structures are in place. 

The Revolutionary Concept of the WBTC Protocol

The WBTC Chain network is a decentralized scaling platform that provides developers with a safe and low-cost means of making user-friendly dApps. Due to the widespread skepticism in the bitcoin industry, each success seen by a cryptocurrency project is a cause for celebration. 

As with any complex project, it might be difficult for newcomers to appreciate the WBTC initiative. The most important thing is that WBTC is helping to bridge the gap between DeFi (decentralized financial) and the widespread use of crypto.  

$WBTC listing on Popular Exchanges 

The signs show that its value will rise significantly when listed on cryptocurrency exchanges. The first platforms to list the coin on their exchanges will be gate.io and KuCoin. The token will have a $1 listing price. The stage 2 initial coin offering, which is still active and has a fixed price of $0.1, is open to all investors. From your wallet, you can make purchases using BNB or Ethereum.

Based on what has happened in the past, analysts think that investors will make a huge profit as the presale goes on. Investors can then use their wallets to claim their WBTC tokens. Join the second round of the ICO to protect your future with the $WBTC token and watch your investment grow over the next few days.

Fantastic project with an amazing team

The success of any team is based on the team. The WBTC network protocol is made up of a group of experts led by Nermin El Kadi, who is called the CEO. Nermin is a well-known person in her profession; you can check out her verified Facebook page.

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.



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Carbon Offset Crypto Project IMPT Announces Exchange Listing After Raising $14m

December 6, 2022 by Felix


It’s been another massive week for IMPT – as the platform’s developers have announced their intentions to bring forward the presale end date.

With more than $14m in funding raised in just over two months, the developers have opted to end the ultra-successful presale phase early to focus on putting the final touches on the IMPT platform.

This decision has also been taken due to several major listing announcements – which will see the IMPT token hit the market for the first time in the coming weeks.

Huge Demand Leads to Presale Ending Early

There’s no doubt that IMPT’s unique use cases have caused unprecedented investor demand – yet nobody could have anticipated the scale of this demand when the presale launched.

IMPT’s presale phase was initially scheduled to last for three separate stages. A total of 600m IMPT tokens were allocated for Stage 1, whilst 660m and 540m tokens were assigned for Stages 2 and 3, respectively.

However, the Stage 1 allocation sold out in record time, with a remarkable $1m of funding being raised in the first five days. Since Stage 1 sold out, investor demand has continued to ramp up – even though the token price has increased.

As noted earlier, more than $14m in funding has been raised since the presale commenced – which has led IMPT’s team to bring forward the presale’s end date to December 11th.

This means that potential investors only have a few more days to buy IMPT tokens at a discounted price of $0.023 before they hit the market for the first time.

Given the tremendous hype surrounding the IMPT project, the decision to acquire tokens at a low price could prove fruitful if IMPT’s upcoming exchange listings are as successful as they’re forecasted to be.

Upcoming Exchange Listings Provide Platform for Price Explosion

Often, a presale crypto’s first exchange listing can provide the foundation needed for exponential price growth – and early investors are hopeful that this is the case for IMPT.

Not long after announcing the pending conclusion of the presale phase, IMPT’s team revealed that three major exchanges would soon be listing the IMPT token.

The first of these exchanges is Uniswap – the world’s largest Ethereum-based decentralized exchange (DEX). Uniswap has a stellar reputation within the trading scene and regularly handles over $450m in daily trading volume, according to CoinMarketCap.

IMPT’s tokens will be listed on Uniswap on December 14th, marking the first time that the value of these tokens will be dictated by supply and demand. It’s this factor that’s getting investors excited – as there’s a growing belief that buying pressure could be enormous once the token goes live.

However, the upcoming Uniswap listing is just the first step in IMPT’s growth trajectory. Leading centralized exchanges (CEXs) LBank and Changelly Pro have also announced that they will list IMPT in the coming weeks.

Both exchanges handle hundreds of millions of dollars of trading volume daily and enable clients to buy, sell, and trade crypto using FIAT – ensuring IMPT trading is as accessible as possible.

The liquidity these three listings will provide looks set to launch IMPT into the stratosphere. Although the crypto market downturn is still hitting investors hard, there’s undoubtedly scope for IMPT to become the biggest IEO of 2023.

Massive $100k Giveaway Has Caught the Attention

With IMPT’s Uniswap listing set for December 14th, presale investors will be able to acquire their tokens from December 12th onwards. This involves going to IMPT’s website and connecting the crypto wallet used to buy the tokens in the first place.

However, this isn’t the only event investors need to be aware of. In order to build even more hype ahead of IMPT’s market release, the development team is hosting a massive $100k giveaway – with one lucky investor being chosen to win the entire jackpot.

IMPT’s team has made the entry requirements simple, ensuring as many people as possible are given a chance to win the grand prize. The main entry requirement is that investors must hold at least $100 worth of IMPT in their crypto wallet at the time of the draw.

Additional requirements all revolve around IMPT’s socials and community. These include:

Moreover, participants can obtain extra entries simply by sharing IMPT’s content with their friends. Although the overarching goal will be to win the $100k jackpot, participants will also be actively helping grow IMPT’s community by completing these tasks – providing a solid base for the project’s expansion.. 

The Exceptional Potential of the IMPT Platform

The decision to end IMPT’s presale phase early wasn’t taken lightly – yet the development team has placed great stock in IMPT’s unique use case and agenda.

For those unaware, the IMPT platform occupies a novel area of the crypto market – one specifically focused on sustainability. Although many crypto projects have become ‘greener’ in recent years, there’s still an evident lack of projects focusing on carbon credit trading.

This is where IMPT comes in, as this environmentally-friendly project aims to leverage the power of the blockchain and make carbon credits more accessible to the masses. By doing this, IMPT seeks to empower individuals and businesses to positively impact the environment.

As per IMPT’s whitepaper, the platform will primarily accomplish this by structuring carbon credits as NFTs. Since NFTs are inherently transparent and immutable, this will naturally eliminate the ‘double spend’ problem that is an unfortunate part of the current carbon credits market.

Moreover, the decision to structure these credits as NFTs makes them easily tradable using IMPT tokens. On IMPT’s marketplace, users can buy, sell, trade, and speculate on carbon credits, creating a self-sustaining ecosystem and allowing an alternative asset class to thrive.

According to ClimateTrade, the value of the voluntary carbon credit market has quadrupled since 2020 – and has topped $2bn in 2022 alone. This highlights the growing demand for these credits, with IMPT looking set to be in pole position to meet this demand.

Another exciting aspect of the IMPT project includes partnerships with world-class brands like LEGO, Amazon, and Microsoft. By shopping with these partner brands, users will earn IMPT tokens – which they can then exchange for carbon credits.

Finally, IMPT’s team will even be launching a groundbreaking sustainability-focused social media platform. This platform will score individuals and businesses based on their environmental impact – providing a clear incentive to make more eco-friendly choices.

How to Buy IMPT Tokens Today – Quick Guide

Although IMPT’s presale is set to end on December 11th, potential investors still have a few days left to buy IMPT tokens at a discounted price.

Those interested in doing so must follow the five simple steps below:

  • Step 1 – Set Up a Crypto Wallet: Open a crypto wallet compatible with ERC-20 tokens. IMPT’s team recommends MetaMask for desktop users or Trust Wallet for mobile users.
  • Step 2 – Obtain ETH or USDT: Buy Ether (ETH) or Tether (USDT) to fund the exchange into IMPT. Investors can acquire these digital currencies through most brokers or exchanges. Alternatively, ETH can be purchased directly through IMPT’s website using a credit/debit card in conjunction with Transak.
  • Step 3 – Link Wallet to Presale: Head to IMPT’s homepage, click ‘Connect Wallet’, and follow the on-screen instructions to make the link.
  • Step 4 – Buy IMPT Tokens: Choose whether to buy IMPT using ETH or USDT, enter the number of tokens to be purchased (minimum of 10), and then confirm the transaction with the wallet provider.
  • Step 5 – Claim IMPT Tokens: From December 12th, presale investors will be able to claim their purchased tokens by linking their crypto wallet to the IMPT website and clicking the ‘Claim’ button.

Website: www.impt.io



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