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Currency.com Review – Cryptocurrency Exchange and Tokenized Securities Trading

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Mar 16, 2020
Currency.com Exchange Summary
  • Overall Rating
4.5

Summary

Assets such as Facebook, Apple, Netflix, and even Tesla can have their shares, which have been tokenized traded on Currency.com. This can be done without also being required to convert the cryptocurrency to fiat currency.

Currency.com Review

Currency.com is a tokenized security exchange asides being a crypto exchange. A lot of people do not know what a tokenized security exchange is. An asset that is not a cryptocurrency can be made into a cryptocurrency, and when this is done, that asset is said to have been tokenized. Assets such as Facebook, Apple, Netflix, and even Tesla can have their shares, which have been tokenized traded on Currency.com. This can be done without also being required to convert the cryptocurrency to fiat currency. Why should you trade tokens? Tokenized assets help you in terms of taxes and a lot of other ways as well. Currency.com has offered over 1000 tokenized assets.    

Bitcoin, Litecoin, Ethereum holders can trade their assets, their commodities on Currency.com. It is a platform that supports the trade of a wide array of cryptocurrencies. This platform is one of the largest in the industry. The fantastic thing about the platform is that they do not have to change their cryptos to fiat to trade their tokens. 

Currency.com prides itself to be a regulated tokenized security trading platform, the first the world had ever seen. They claim that there were no tokenized security trading platforms before they came into the industry. They figured out a way for customers to know the market and non-crypto financial assets by trading these assets with either cryptocurrencies or fiat money. You can trade and make gains in cryptos.   

Marginal trading in cryptocurrency is not a stranger to most platforms that already offer cryptocurrencies as a tradable financial asset. On Currency.com Ethereum, Litecoin and Bitcoin are the three main cryptos which can be leveraged. Currency.com wants to be a master in the investment industry, and part of how they wish to achieve this is to provide leverages that reach you to 20x.

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Most traders consider it to be one of the best web-based platforms that anyone can choose to use. They are not limited to the web-based platforms alone, Android application, which can be seen on the Google Play Store and App Store’s iOS offers the same features that are easy to navigate. 

TOKENIZED SECURITIES

Assets, financial assets like commodities, bonds, securities, and bonds can have their prices represented as tokens, and this is what is referred to as tokenized securities. Whether as a gain or loss, whatever the result is for a trader or investor, tokenized securities are somewhat comparable to commodities, stocks, bonds, derivatives, futures, equities, and other financial tools that are very popular. Currency.com is composed enough to offer over 9,000 tokens, which are attached to the several asset types at their market value. Outfits such as Amazon, Apple, and Coca-cola are included. Dow Jones 30, S&P 500, and Nasdaq, which are all indices, are also included, and Brent Crude oil, Gold, and Silver are not left out as commodities.  

A token is given to a trader that helps them track the value or price of the chosen instrument when the trader has placed their trade. Investors now have the choice of expanding their portfolios without necessarily having to change their digital currencies to fiat money. 

The actual price for every share that equals the fair market price of the common asset at the time of liquidity event which is determined when reference is made to the buying cost that can be paid when connected to the liquidity event times the discount rate are offered by Currency.com through their subsidiary, Capital.com. The prices can be seen and accessed on technology based on Blockchain to enforce the best prices possible.  

MARKETS AVAILABLE

We already know that Currency.com provides an extensive option of financial tools that a trader can pursue when they want to leverage their crypto assets to the traditional market. 

TOKENIZED INDICES

The traditional markets in finance can be represented by Stock indices fundamentally. The well- known indices are S&P 500, Nasdaq, Dow Jones, and even the FTSE 100. The price-performance of collective shares from a specified exchange can be measured by stock indices. 

Currency.com currently provides some indices which include US100, IT40, DE30, US500, CN50, NL25, EU50, FR40, US30, and SP35. 

TOKENIZED SHARES

Traders use the stock market to predict the stock prices of most of the world’s pioneering companies. Traders consider the stock market to be relevant and exciting to observe and transact in. Companies like Uber, AT$T, Netflix, Tesla, Fiverr, Apple, Slack Tech, and a lot of others and provided by Currency.com.

TOKENIZED COMMODITIES

Traders can engage with the leading biggest markets in the world because Currency.com supports traders to do this with the use of cryptocurrencies. The prices of commodities such as metals; Gold, Silver, Natural gas, Palladium, Crude oil, Platinum, and the rest can be predicted.  

TOKENIZED GOVERNMENT BONDS

To finance immediate and long-term government budgets, countries through the governments offer government bonds as popular instruments of debt. The government of Belarus is the only allowed government bond for trading on Currency.com.

HOW TO SIGN UP

The processes involved in the signing up on Currency.com are not rigorous, but it detailed. The Exchange button that can be seen on the navigation menu once the home page is accessed when clicked takes you to a Know-Your-Customer procedure which is necessary on the platform as part of the registration requirements as Belarus’s High Tech Park regulates them and their accounts are vetted or inspected officially by Ernst and Young. These procedures are regulations that cover their customers from purchasing illegal or wrong cryptocurrencies. Currency.com is compliant entirely to the Know-Your-Customer and Anti-Money Laundering regulations.  

The first step to registration is to click on the Exchange button on the home page and provide an email address of your preference and choose a password that you can remember, which must fit the password requirements of font, casing, and numbering. The next step to further your registration is to choose your nationality or country of origin and the state you reside in. The third step is to provide your address, a current one. Then you will have to provide your passport approved name. 

The fifth step requires you to verify your email address, which is a quick process, and you do this by clicking on the platform authorized link sent to you. You also have to verify your identity by providing a government-sanctioned Identity Card with your photo on it. The seventh and last step is the verification of your address, which demands that you provide a document with your address in it. The address must not be different from the one earlier provided, and the certificate must be valid.

Withdrawals and Deposits

Depositing funds into your account is also very easy. It is as easy as navigating to the Wallet sections on the same navigation menu. On your screen, you will see specific parts for deposits and withdrawals. When a deposit is made, it reflects in your balance. There are more options for you to when you want to make deposits of cryptocurrencies or fiat currency.

The withdrawal procedure is straightforward, as well. Bank transfers are necessary if you are interested in withdrawing or depositing fiat money. Deposit or credit cards can be used for both deposits and withdrawals as well. You will be asked to choose precisely which currency you wish to withdraw whenever you click on withdraw. The next step is to click on the Go-To Bank Transfer. Once the steps are completed, you will just have to wait. The money will reflect in your account. 

TRADING

Trading practices on most platforms or exchanges can be said to be identical with the trading practices on Currency.com. Tokenized securities trading on Currency.com, just like any other platform or digital exchange, entails deciding whether you want to sell or you want to buy. Also, trading of any form involves risks whether you end up making gains or losses. To drive this point home, we should observe what trading tokenized securities on Currency.com.

BUYING

You can trade indexes, commodities, bonds, stocks, and other digital or traditional financial instruments. These trading practices are supported on Currency.com, in fact, they are a peculiar platform. An example that we can observe is say buying the S&P 500, which is a well-known index in the world.

There are some options available, which include Trades, Charts, Portfolio, Referrals, and Reports, which you will see on your screen during the trade. You should choose the trade. Then you will go on to click on S&P 500 then click on the button that reads BUY.

The platform lets you select and attach a certain percentage of the funds you funds, whether in fiat or cryptocurrencies so that the buying procedure is more straightforward for you. A tab will open automatically after this is a market order tab, which ensures that you purchase at the price, which is the market value at that current time. Clicking on the Buy When Price Is button will let you choose a special price as the entry price whenever you want to place an order on a limit. When you click on the Buy or Place Order, you are ready to buy depending on the type order you have chosen, which could be a Buy or Limit order. 

You can refer back to your wallet once this is done. It will become evident that the open position is what you have, and they now possess a little of the S&P 500.

SELLING

You can check your dashboard on the platform to see that you are permitted to sell any assets that you have previously bought. If you are ready to sell, then you are one click away from the SELL button to proceed. 

Just like you are allowed to do in buying, you set a particular price where you want to sell by setting a limit order. After adjusting the settings, you can sell or place an order when you click on their designated buttons. It is quite easy to trade on Currency.com. The above steps are all there is to it. This ease of transactions is the best thing about Currency.com. Most traders consider it to be their most endearing feature and why they choose it over other platforms.

MARGIN TRADING

The platform supports margin trading for interested traders. You can trade financial assets of your choosing as well as cryptos with leverages that peak up to 100x depending on the selected pairs for trading. Bitcoin, Litecoin, and Ethereum can be traded with leverage. You are not just limited to trading crypto pairs, but you can trade cryptocurrencies against country’s currencies such as Dollar, Ruble, which is a Belarusian currency, the Euros, which is used by a lot of countries and even the Russian Ruble. The crypto pairs can be Litecoin against Bitcoin, Ethereum, and Bitcoin or even Ethereum against Litecoin. One of the most traded pairs is the Bitcoin against the United States Dollars. Trading Bitcoin against Dollars or any other pair will require you to choose your leverage after you have opened the platform. The next thing would be to select Cryptos from the drop-down menu of the markets. You will see the pairs which are available to you for trading.

When you have completed the steps as mentioned above, you can decide whether you want to buy or sell Bitcoin against the Dollar, your decision has to be influenced on what you predict the price to be. When you go short, you are anticipating a fall in the price, so you will want to sell, so you click the Sell button. If you believe that Bitcoin will increase in value or price, then you will click the Buy button to go long.

When you want to buy, you enter the amount of Bitcoin you want to buy. This is the first thing to do. If you’re going to choose a limit order, you select the Buy When the Price is a button and enter the amount you want because when you do not do this, you will be stuck with an automatic Market Order setting. Go ahead to choose your leverage, and since the example, we are using is the Bitcoin and Dollar pair, the highest leverage is 20x. You can trade 20x more than the amount you have in your account for investment. If you are right and the trade is successful, you will gather more gains, but if not, you risk liquidation. However, you to automatically stop a trade when you are running a loss with a Stop Loss command, and you can take your acquired profit with a command called the Take Profit command. 

To set up this command, you have to set several losses you are willing to take by entering the value in the real figures, or you can choose the percentage equivalent. Let us say you adjusted your settings to activate the stop-loss command when you lose $300 or if the crypto you are trading loses 10% of its value. Your stop—loss command will be enacted when any of these occurrences happen.

Conversely, the command for take-profit requires you to choose the amount of profit you want to take so that you can close and exit a trade automatically before it turns to negative.  

CHARGES AND FEES

When choosing a platform to trade on, a trader should be interested in the charges that come with transacting on the platform. It is essential to figure out the cost of the deposit, the cost of withdrawal, and the cost of trading in itself. This is essential. 

DEPOSIT FEE

Using a MasterCard or Visa will cause a charge of 3.5% as commission when you want to deposit fiat money. There is, however, zero charges for bank transfers. The least you can deposit when you choose to use MasterCard or Visa is $100, and bank transfers are set at a minimum of $50. The highest amount that can be deposited is the equivalent of $24,000 in cryptos or the actual amount in fiat. To deposit money, the platform may require you to go through more verification processes. If you, however, choose to deposit money in cryptocurrency, you will not be charged any fee. 

FEES FOR WITHDRAWAL

When you take out money from your account on the platform, the withdrawal charges will apply. The costs or commission vary from one payment method to the other. Visa incurs a 2.4% charge plus $3, MasterCard incurs 1.9% plus $3, for bank transfers for users that reside in Belarus you are charged $8 while the bank transfer charge for users that do not live in Belarus is 0.15% with a minimum of $20 and maximum of $150. Withdrawals for cryptocurrencies have their charges as well. They are as follows; 

Bitcoin incurs a commission of 0.00025BTC for withdrawal. Ethereum incurs 0.02ETH when it is withdrawn. For Litecoin, you pay a commission of 0.04LTC.  

The charges for these transactions are very fair when compared to other platforms. Currency.com offers one of the best commission rates in the investment rates.

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