Currency.com review – CIS’s first regulated cryptocurrency exchange

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Currency.com is a regulated exchange of tokenized assets on which cryptocurrencies can be invested in traditional assets: stocks, stock indices or commodities.

One of the problems of the cryptocurrency industry, which prevents the widespread recognition of digital assets and the arrival of large institutional investors, is the lack of regulation and the creation of greenhouse conditions for the development of cryptocurrency projects and their integration with traditional economic systems and business. Gradually, this trend is changing, individual states begin to develop bills to regulate the digital economy and help the cryptocurrency company work within the legal framework.

In January 2019, the Currency.com cryptocurrency exchange of tokenized assets was launched, the license of which was issued in accordance with the decree of the President of the Republic of Belarus “On the development of the digital economy”, which entered into force in March 2018.

About currency.com

Currency.com is a regulated cryptocurrency exchange of tokenized assets. What does this mean? The platform enables its customers to invest cryptocurrencies in tokenized traditional assets, such as stocks, stock indices or commodities. If earlier, for example, the purchase of shares in Apple or another corporation was available only through a brokerage company for fiat money, then with the advent of Currency.com, you can buy tokenized shares and other assets for bitcoin, ether or lightcoin.

This opportunity allows cryptocurrency investors not to wait for the correction of bitcoin or another sideways to end on the cryptocurrency market, but it is much more free to invest cryptocurrencies in traditional assets. For example, during the next long sideways trend, you can pay attention to gold or oil and earn in these markets.

In addition, the diversity of assets gives traders the opportunity to protect their capital from possible risks. As you know, some cryptocurrencies are still subject to various manipulations, and since other exchanges offer nothing but cryptocurrencies, in the event of another dump on one of them, the trader can lose a significant part of the money. Using traditional and completely non-correlating assets, a cryptocurrency investor protects its capital from market manipulations. This is important, because in the event of strong fluctuations in the rates of cryptocurrencies, most of the coins will be stored in more stable traditional assets.

Regulation

Currency.com exchange operates in the legal field and is regulated by the legislation of the Republic of Belarus. Personal data and user assets are legally protected, and the exchange itself is completely transparent and is independently audited by the Big Four company Ernst & Young.

Belarus became one of the first countries in the world to determine the legal status of cryptocurrencies. The country introduced a decree on the development of the digital economy of October 21, 2017, which regulates the procedure for working with tokenized assets, cryptocurrencies and exchanges.

Terms of trade

On October 8, 2019, Currency.com announced a narrowing of the spread for the two main cryptocurrency pairs. For BTC / USD, the spread was reduced to 5 cents, and for the ETH / USD pair to 1 cent. It is worth noting that the spread for these pairs is fixed regardless of market volatility, its size does not change. Today, these are the narrowest spreads on the cryptocurrency market.

Trade commissions for the following instruments were also reduced:

  • Cryptocurrency pairs with leverage – commission reduced to 0.075%;
  • Leverage shares – commission reduced to 0.0125%;
  • Commodities – commission reduced to 0.05%;
  • Shares – commission reduced to 0.05%;
  • Indices – commission reduced to 0.05%.

For comparison, the trading commission on the largest cryptocurrency exchange Binance is 0.1%, on the OkEx exchange – from 0.1% to 0.15%, which is two times higher than on Currency.com. As for other types of assets, they simply are not on cryptocurrency exchanges, only leading coins and tokens are available to traders.

Security

Customer safety is ensured not only due to the regulatory requirements for the exchange, but also by internal security measures. Personal data of clients is protected by cryptographic encryption and stored on LD4 Equinix servers, whose services are used by industry giants such as NASDAQ.

The company strictly complies with the FATF requirements regarding AML and CTF (anti-money laundering and combating the financing of terrorism) and monitors suspicious transactions in order to detect fraudulent activity using the software of the leading blockchain industry companies: Chainalysis, Coinfirm and Elliptic. In addition, the site regularly undergoes a security audit.

You will not buy there Bitcoin, which previously participated in the financial schemes of terrorists or drug dealers. Accordingly, avoid the potential risk of questions already to you, as a participant in these operations.

Currency.com Benefits

  • A wide variety of assets. The stock exchange has more than 1300 of the most liquid assets in the world: stocks, cryptocurrencies, stock indices, commodities, bonds and ETFs. No cryptocurrency exchange can boast of such a variety of assets. For traders, such a wide selection of assets makes it possible to diversify trading portfolios and create complex investment strategies, making trading not only interesting and smart, but also profitable.
  • Leverage trading up to 100x. In addition to the possibility of buying traditional financial instruments for cryptocurrencies, the exchange provides margin trading with a leverage of up to 100x.
  • Ways of replenishment and withdrawal. It is possible to replenish the balance and withdraw funds in cryptocurrencies BTC, BCH, ETH and LTC, as well as in fiat currencies: Euro, US dollar, Russian and Belarusian rubles. Replenishment in fiat is possible both by bank transfer, and using Visa and MasterCard cards. In addition, Currency.com became the first cryptocurrency exchange to open an account for accepting payments at Sberbank, which is especially important for customers from Russia and the CIS.
  • Russian-language localization. Currency.com is focused not only on the international market, but also pays special attention to customers from Russia and the CIS countries. A Russian-language support service is available on the exchange, which will quickly help to deal with any issues that arise. All information on the site and the trading terminal is translated into Russian.
  • High speed. The platform uses advanced technologies and software, which allows you to process over 50 million operations per second and helps to avoid price slippage, “brakes” under high load and errors when opening trading positions.
  • Referral program. For those who do not yet have the opportunity to trade independently, there is a profitable affiliate program on the platform, everyone can become a participant in. The partner receives up to 50% of the trading commissions of these clients. The client receives a 10% discount if he uses the referral link.
  • Fast verification. The exchange operates in accordance with the rules of KYC and AML, therefore, to complete trading operations, it is necessary to go through the verification procedure, however, unlike other exchanges, where the KYC procedure can take from several days to several weeks, it takes less than an hour on Currency.com.
  • Mobile app. For those who are on the road and are not able to use a computer, there are mobile applications for iOS and Android on the exchange that allow you to constantly monitor the market situation and quickly make trading decisions if necessary.

Conclusion

Currency.com was able to combine highly liquid traditional financial instruments and digital assets. It is important that all this is implemented in accordance with the legislation of Belarus.

That is why the exchange attracts not only customers, but also investors. In 2018, Currency.com attracted investments from Larnabel Ventures and VP Capital venture capital funds, thanks to which it received an excellent opportunity to develop and conquer the exchange trading market.

You can familiarize yourself with the terms of trading on the exchange on the official website.


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