Currency.com Review 2023
- Quick Overview
- What Is Currency.com?
- How to Use Currency.com?
- Key Features
- Compliance & Regulation
- Pros and Cons
- Registration Process
- Buy & Sell Cryptos from Currency.com
- Fees & Commission
- Withdrawal & Deposit Methods
- Accepted Payment Methods
- Supported Currencies and Countries
- What Are Tokenized Securities?
- Customer Service
Investors who are looking for a platform to trade tokenized assets can try Currency.com. The platform provides an extensive list of tokenized offerings that are among the best available to date. The web browser-based platform offered by the cryptocurrency broker is exceptionally smooth and user-friendly. Although there is no support for MT4 (MetaTrader 4), the company has paid enough attention to ensure a slick working interface and intuitive crypto trading experience.
In this Currency.com review, all the critical points are discussed to help traders make their choice effortlessly.
|Supported Fiat Currencies||USD, EUR, GBP, RUB and BYN|
|Supported Countries||WorldWide with few exceptions|
|Minimum Deposit||Depends on Currency & Payment Methods|
|Deposit Fees||Depends on Currency & Payment Methods|
|Transaction Fees||Depends on Currency & Payment Methods|
|Withdrawal Fees||Depends on Currency & Payment Methods|
|Customer Support||24/7 via Chat, Phone call, Email, & FAQ Section|
Quick Overview on Currency.com
- Belarus-based regulated crypto trading platform.
- Allows trading of tokenized securities.
- Accepts both fiat currencies and cryptocurrencies as deposits.
- Supports leveraged trading up to 1:500.
- Conducts regular audits by leading firms like Ernst and Young.
- Allows for a demo account creation.
What Is Currency.com?
Currency.com is the first-ever tokenized securities exchange launched in 2018 and regulated by three organizations in Minsk, Belarus. Currency Com Bell LLC owns the company (bearing registration number 193130368). The crypto exchange also has its offices in Gibraltar and London.
It allows its traders to buy and sell more than 2000 tokenized securities, including classic ones like Bitcoin, Litecoin, Ethereum, leading tokenized stock indices, government bonds, and commodities.
The platform plans to explore various other tokenized trading instruments and offer more than 10,000 tokenized securities pegged to multiple asset classes like:-
- World’s leading tokenized indices- S&P 500, Dow Jones 30, Nasdaq 100, US 100, EU 50, and FTSE 100.
- Tokenized share of companies- Tesla, Apple, Amazon, Netflix, Coca Cola, Google, and many more.
- Tokenized commodities- Gold, Silver, Platinum, Palladium, Natural gas, etc.
- Tokenized government bonds- Belarus250/USD.
- CryptoCurrency pairs- Bitcoin, Ethereum, and many more leading fiat currencies.
How to Use Currency.com?
To use the platform, users should have a robust internet connection and a computer. They can efficiently operate on the platform after registering and depositing the requisite fees on the exchange.
Key Features of Currency.com
This Currency.com reviews offer the following core features to its users:-
Sophisticated Trading Platform
It offers a sophisticated trading interface to its users and also allows for easy deposits and withdrawals. It is the world’s first tokenized assets platform offering a web-based trading platform to its users settled in any part of the world. The regulated exchange is also compatible with both Android and iOS devices.
Extensive List of Assets
It offers an extensive collection of assets, including tokenized cryptocurrencies, shares, indices, government bonds, currency pairs, and commodities. The wide range of assets allows users to expand their investment portfolio and earn lucrative returns from that place.
Low Minimum Deposit
The low minimum deposit is another attractive feature of the crypto exchange that attracts investors worldwide. The minimum deposit of $5 is much lower than the industry average. Moreover, the minimum withdrawal limit allowed on Currency.com is relatively decent, as it will enable customers to withdraw funds as low as $100.
Robust Trading Tools
It offers some advanced trading tools that prove to be highly beneficial for traders. The exchange’s website displays the latest price charts, price movement comparison tools, and technical analysis indicators to help traders take advantage of asset price movements at any time.
It received special recognition worldwide, and most of the Currency.com reviews talk about the platform’s reliability. It received the ‘Best Cryptocurrency Exchange CIS’ award from the Blockchain Life Awards forum in 2019. In 2020 the exchange was awarded by ADVFN for its ‘Breakthrough in Cryptocurrency Trading’ facilities offered to its users.
Currency.com Compliance & Regulation
Currency.com is regulated and authorized in Belarus, where the exchange originated; the High Technology Park of Belarus holds it under the Decree of the President of the Republic of Belarus No.8. Currency.com is a valid legal entity offering cryptocurrency trading services in Belarus.
Being regulated endows a distinct level of credibility to the platform. The tokenized assets exchange also complies with all the AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations. The verification process undertaken by the crypto exchange is also robust. It ensures that the platform collects all vital information against a user before starting trade on the platform.
The Currency.com exchange also provides negative balance protection by its ‘stop losses’ feature.
Currency.com Review: Pros and Cons
|Easy-to-use interface.||Prohibits US citizens to use the platform.|
|Offers a wide range of assets and tokenized securities.|
|Low minimum deposit.|
|Offers leverage up to 1:500.|
|Offers random bonuses to users up to $100.|
Registration Process of Currency.com
The registration process at Currency.com is pretty straightforward. Upon landing on the exchange homepage, users can click on the “Exchange” button on the top corner under the navigation menu. Here, a detailed KYC procedure will be required as the High Tech Park of Belarus regulates the platform and is regularly audited by Ernst & Young.
Therefore, there is no scope for any shortcuts in the registration procedure. The platform seriously complies with all the necessary KYC and AML regulations to protect clients’ funds.
Once the “Exchange” is clicked on, a black screen pops up, where users must enter their email address and password. Then the users need to click on the “Continue Registration” button, which will open the remaining part of the registration page with some mandatory fields like full name, current address, nationality or country of residence, etc.
Email verification is the second step where the Currency.com team sends an activation link via the user’s registered email address. After the user clicks on that link from their email, the account will be activated.
After successful email verification, users are also required to verify their IDs by uploading any government-issued IDs.
Users are also required to verify their address proofs by uploading any utility bills on the crypto exchange. After successfully verifying all these details, Currency.com allows its users to trade on its platform without hassles.
Buy and Sell Cryptocurrencies from Currency.com
Currency.com is a unique crypto trading platform that allows users to trade cryptocurrencies and other tokenized securities like indices, commodities, bonds, stocks, and other traditional financial assets. Here is how to use the platform to buy these assets.
To Buy Assets
For buying assets on Currency.com, traders need first to visit the Trading page on the exchange’s website that displays many options like Trade, Charts, Reports, Portfolio, and Referrals. Users need to click on the ‘Trade’ icon for buying or selling assets and choose any market like S&P 500, Nasdaq 100, DAX, etc., from the Market menu and click on the “Buy” option.
Soon after this, a window will pop up according to the financial market chosen by the users, and it will display all the details related to it like the trading commission, availability of the wallet, etc. Choose the best crypto wallets for storing your cryptocurrencies.
The tab that opens by default is the market order, which allows users to buy their preferred assets at the current market prices; if traders wish to place a limit order, they will have to select the option, “Buy when the price is…” and select their preferred entry price. Finally, depending on the market the users choose, they can now click on the green ‘Place order’ tab below the order page.
To Sell Assets
Once an asset is bought on the Currency.com platform, the exchange’s dashboard will reflect it and allow users to sell them.
Users need to click on the ‘Sell button,’ and the following screen will appear to sell any asset.
Once again, users need to set a limit to sell the assets at a specific price point. Once all the inputs are correctly entered, users can click on the red ‘Sell’ or ‘Place Order’ button to sell assets.
Currency.com Review: Fees & Commission
Curency.com charges the following fees from its clients:-
Unlike most cryptocurrency exchanges that discriminate between maker and taker fees, Currency.com charges relatively flat fees of 0.20% for both the makers and the takers. It is also below the global industry average that has been 0.25% for a very long time.
As Currency.com supports leveraged trading or margin trading of cryptocurrencies, a separate fee structure for margin trading is different for the takers and the makers; the taker fees are charged at 0.075%, whereas makers get paid to trade at 0.025%.
Moreover, first-time deposits via bank cards are free, while for the subsequent bank card deposits, users will be charged a deposit commission at the rate of 3.5% if Visa or Mastercard are used; bank transfers are free.
There is also a minimum deposit requirement of $10 if users intend to use Visa or MasterCard and $50 if they use a bank transfer. However, there are no limitations for deposits, but when the deposit amount reaches $20,000 or equivalent, users are mandatorily required to show a source of funds. Cryptocurrency deposits are free of charge. To get more detail about its exchange fee structure, click here.
The withdrawal fees at Currency.com are charged as follows:-
- For Visa- 2.4% + $3
- For Mastercard- 1.9% + $3
- For Bank Transfer (Belarus residents)- $8
- For Bank Transfer (Non-Belarus residents)- 0.15% (min $20, max $150)
For withdrawing cryptocurrencies, the following commissions are charged:-
- For BTC- 0.0005 BTC
- For ETH- 0.01 ETH
- For LTC- 0.04 LTC
- For BCH- 0.015 BCH
- For XRP- 20 XRP
- For USDT- 3 USDT
- For other tokenized assets- 1.5% (min 0.02)
Currency.com Withdrawal & Deposit Method
Currency.com accepts deposits via both wire transfer and credit cards (VISA and Mastercard). The minimum deposit amount in credit card deposits is USD -10, BYN -25, EUR -10, or RUB -750. The allowance of fiat Currency deposits proves very beneficial for first-time crypto investors to start their crypto trading career at the Currency.com exchange.
Whether the deposit is made via fiat Currency or cryptocurrency, the minimum deposit is 0.002 BTC or 0.03 ETH.
For depositing funds into their accounts, users first need to visit the “Wallets” section on the top navigation menu of the exchange’s website. Currency.com allows its users to deposit both fiat currencies as well as for cryptocurrencies.
The withdrawal process at Currency.com is also pretty simple. If users intend to withdraw funds in fiat currencies, they will have to use a bank transfer.
However, if they have used a bank transfer as their deposit method, they also use the same to withdraw. As soon as they click on the “withdraw” button, they will be asked to specify the preferred Currency that they want to withdraw. Next, they need to click on the “Go to Bank Transfer” tab to withdraw. Once this is done, it will take only a few minutes to reflect in the user’s account.
Currency.com Accepted Payment Method
Curency.com accepts both fiat Currency deposits and as well as for cryptocurrencies. Fiat Currency deposits made via wire transfers or credit cards attach some fees, whereas cryptocurrency deposits are entirely free.
Currency.com Supported Currencies and Countries
Currency.com accepts clients from over 183 countries all across the world with a few exceptions like the following:-
- DPRK (Democratic People’s Republic of Korea)
- Ethiopia and more.
What Are Tokenized Securities?
Tokenized securities, as the name implies, are those securities that can be converted into blockchain-based tokens. Tokenized securities are backed by other underlying assets like commodities, government bonds, or other assets alike.
Tokenized securities can be easily verified and are also easily transferable. These securities give the holders exclusive rights to acquire a specific percentage of those indivisible assets.
Security is one of the main highlights on the Currency.com platform. Security breaches have never been any issues with the platform. As per the review Currency.com offers, the platform uses the security technology of a partner company named Capital.com.
Moreover, the platform servers are stored in the LD4 data centers, a security platform used by leading trading platforms like Nasdaq, Dow Jones, and the London Stock Exchange. It hosts a proprietary web-based platform to its users for easy cryptocurrency trading.
However, the platform does not support MetaTrader 4 and MetaTrader 5 in its interface, but still, it is amazingly well-developed. It allows users to review multiple charts and over 75 technical indicators.
Moreover, 97% of the client’s funds are stored in cold wallets, and all the transactions are encrypted with HTTPS. The platform conducts regular audits under Ernst and Young. Also, Currency.com employs professional staff to protect clients’ data using military-grade encryption.
Currency.com Review: Customer Service
The platform offers robust customer support for its users, among the best in the cryptocurrency industry. The company’s website is designed in 10 different languages, including English, Spanish, Russian, Indonesian, Portuguese, Korean, Vietnamese, Malaysian, Chinese, and Thai. The technical support team can be reached 24/7 via chat, phone call, email, or the website.
Apart from this, the platform also offers referral and affiliate programs to its users.
Currency.com Review: Conclusion
Thus, it is an innovative trading platform that bridges the gap between the modern cryptocurrencies market and the traditional finance market by allowing crypto holders to gain exposure in the conventional financial markets and vice versa. Also known for the crypto exchange with lowest fees and provides hi-tech security mechanisms, which is making it gain positive Currency.com reviews worldwide.
Is Currency.com Good?
It is the best choice for investors who are keen on investing and trading tokenized assets.
Why Should You Choose Currency.com?
Currency.com offers advanced features like low trading fees, leveraged trading, trading of tokenized assets, etc., that attract traders to give it a try on Currency.com.
How Secure Is Currency.com?
It is a regulated exchange, complies with the KYC and AML procedures, and is thus a very secure exchange.