Currency.com Review: Tokenized Assets Trading For Everyone

Currency.com is a tokenized assets trading platform that claims to be the first of its kind. It unlocks different financial instruments by tokenizing them and enabling trading in a regulated financial market.

In this article, we provide a detailed explanation of Currency.com. Among the things we cover includes:

  • Accessible Markets
  • Platform Features
  • Security and KYC
  • Regulation

An Overview Of The Platform

Currency.com offers traders the opportunity to trade more than 1,300 tokens alongside cryptocurrencies like Bitcoin, Ethereum, Litecoin, and XRP. Other available assets include tokenized indices, commodities, and government bonds. 

It is because the platform offers such a robust suite of tradable instruments in a tokenized fashion that it calls itself the world’s first regulated tokenized security exchange. 

Currency.com is tailored to suit the needs of cryptocurrency investors who want to trade the financial market directly with their crypto assets as collateral. 

The provision of trading with cryptocurrency means that traders can trade stocks, bonds, currencies, commodities, without directly exchanging their crypto for these assets and also receive profits in crypto.

Currency.com is located in Minsk, Belarus. This platform has the goal of offering its traders more than 10,000 assets shortly and, according to its website, boasts a large workforce with over one hundred employees.

At the time of writing, Currency.com is headed by an amiable CEO, Ivan Gowan. The General manager is Alexander Shevchenko and the Head of project management, Victor Pergament. Currency.com uses trading infrastructure provided by Capital.com, its sister platform that is regulated by the U.K FCA and CySEC.

What are Tokenized Securities?

Only experienced traders with the knowledge of blockchain technology and the cryptocurrency industry can demystify the term word “tokenized security.” Let’s try to break it down.

Tokenized Security

The word tokenized security is obtained from two words, tokenization and securities, so to find the meaning of tokenized security, it is essential to break this word down. 

Tokenization of an asset is the process by which blockchain token is issued to digitally represent a real tradeable asset.

In one sentence, tokenized securities are digital representations of the normal securities like shares, bonds, and even real estates. 

Tokenized security is not to be confused with security tokens.

Security tokens are a digital representation of a venture system and all the related attributes of Normal security. These security tokens are native blockchain assets that use traditional income sharing models or their conditions. Their existence can’t be off the blockchain.

While on the other hand, tokenized securities are tradable assets that are linked to the blockchain technology. 

Unlike the security tokens that can’t exist outside the blockchain, tokenized securities can. It is only new trading platforms like Currency.com that leveraged blockchain to tokenize securities, thus unlocking the financial markets to broader participation.

The Features Of Currency.com

Diverse Assets

Many traders love to see a trading platform that offers them the opportunity to trade different assets. Many trading platforms are unable to offer traders these different assets, and as a result, traders can not reach their full potential.

At Currency.com, traders are overwhelmed by the many assets they can trade. Traders can access more than 1,300 tokenized instruments. These financial instruments span across assets like indices, stocks, precious metals, and different commodities. 

Flexible Deposit Methods

Depositing on the Currency.com exchange trading platform is very easy. Traders can deposit fund their accounts through different methods like:

  • Credit card {Mastercard and Visa}
  • Direct Bank Transfer
  • Cryptocurrencies

For traders who wish to deposit money into their account using a credit card, enjoy the minimum deposits of 100EUR, 100 USD, and 250 BUN. Traders who also want to deposit into their account using cryptocurrency can enjoy a minimum deposit of 0.01 BTC and 0.1 ETH. 

The variety of deposit options available means there is little to no chance of encountering difficulties when you want to fund your account.

Withdrawal Options & Fees

For many trading platforms, depositing is the easiest part, but withdrawal is hard. Currency.com does better; traders can deposit with ease and withdraw with the same ease. Withdrawal can also be made through the same process as deposits.

The withdrawal fees are also competitive, for example, to withdraw $24,000, the withdrawal fee is just $100 if the trader decides to cash out using a credit or debit card, and $50 using direct bank transfer.

With cryptocurrencies, every withdrawal cost 0.0005 BTC. The withdrawal cost of just 0.0005 BTC is very competitive and 40% lesser than the industry average of 0.000812.

Security & KYC

It is heartbreaking to see traders lose their funds due to trading or personal information as a result of trading on a trading platform that is not secure. Who is to be blamed? That question remains unanswered as some blame traders and some the trading platform.

Traders can be assured of the security of their personal information as Currency.com utilizes strict security standards. The trading platform servers are stored in the LD4 data center. On the other hand, the employees of Currency.com employ standard military encryption to keep and protect clients’ information. Besides, each communication is encrypted using HTTPs.

Still, in the bid to protect its customers’ personal information, Currency.com strictly adheres to Know Your Customer (KYC) and the Anti-money Laundering  (AML) laws.

Aside from traders’ personal information, their funds are also secure. 

In the event of any hacking, Currency.com protects its users by storing 97% of its users’ funds in a cold wallet to prevent hackers from carting away with substantial amounts. Besides, Currency.com stores customers’ funds on a different account, to protect their funds in case of bankruptcy.

Besides enforcing high-security standards, Currency.com provides basic security features to protect users from their end. You have to choose strong passwords and also enable two-factor authentication.

Lastly, all the tokenized markets are issued on the Ethereum blockchain. Thus, tech-savvy traders can withdraw and store their assets in a non-custodial Ethereum wallet to increase security.

Margin/Leveraged Trading

Trading with margin is simply trading an asset with more capital than the funds in a trader’s account. Where does the money come from, some may wonder, a trading platform lends money to a trader to enable this form of trading.

Currency.com margin trading as one of its features, and its traders can enjoy this service. The platform offers traders this form of trading with a leverage of up to 1:500, provided they are verified and have a substantial amount as collateral.

Marginal trading is lucrative and risky at the same time, so all traders are advised not to trade with margin, but if they have to, they are to do it with a lower margin.

Trading Interface

Although many trading platforms are designed without the interest of newbies in mind, Currency.com takes the other way around by designing its platform from the ground up to suit the needs of traders of all levels.

A simple way to understand this is that although the exchange offers otherwise complex securities, the website and its features are easy to understand even for first-time visitors. 

Thanks to the Currency.com excellent user-interface, traders can access the platform and navigate through windows and elements. 

Multi-Platform Support

For most traders, the ease of trading from any device is what brings joy. The reason is not far-fetched. Few seconds can make the difference between winning and losing trade positions.

Currency.com seeks to provide its traders the best trading experience by providing its platforms in two reliable formats; web and mobile.

The Web interface is the first format and the most reliable because it can be accessed from anywhere in the world, provided there is a good internet connection. The best thing about this format is that traders can access the platform using any internet-enabled device.

The next format is mobile. The mobile is another reliable format that has been trusted by many traders in the past and will continue to be. The exciting feature is that once installed on a device, a trader can trade on the Currency.com platform from anywhere provided a mobile with the app is available.

Is the Company Regulated?

Currency.com is a trading platform that was established in the early parts of 2019. It is owned and managed by Currency Com Bel LLC. It is a Belarus-based trading company that is registered in the same country with registration number 193130368. 

Additionally, Currency.com has a branch in London and Gibraltar that is open to the general public.

A partnership with technology provider, Capital. com means that two regulators invariably oversee the trading platform. These are the U.K Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC). 

Locally, Currency.com claims to abide by Belarus’ 8th decree on developing the digital economy. Currency.com also employs big-four accounting firm Ernst and Young, to inspect and audit it. 

Like most trading platforms, Currency.com adheres strictly to the Know Your Customer (KYC) and the Anti-money Laundry (AML) protocols.

Currency.com has bagged different awards. One of these awards is the one it won in 2019 for being “the Best cryptocurrency exchange CIS,” and also more commendations from different institutions. Most traders are surprised to see a trading platform as young as Currency.com win such awards.

A Demo Trading Account 

Daily, more and more people go into a trade. Some of them lost a lot of money because of their inexperience. The mistake common to all these traders is that they failed to practice well before trading. Most people blame themselves and some, the exchanges they trade on.

The reason for these losses is the use of a platform that does not allow it to trader a playground. The Demo account is like a playground where traders can hone their skills and master the trading art. 

Currency.com offers the novice a demo account so that they can hone their skills. These accounts are funded with 10BTC, and traders who are new to trading can trade with a leverage of up to 1;100. Before a trader stakes money on trade, enough skills and confidence will have been gained in the long run.

Reliable Customer Support 

Stories of traders having issues with a trading platform and contacting that platform support, but receiving no reply is not new as many traders have had this horrible experience. Currency.com is different from these trading platforms because it has customer support that works 24 hours daily and seven days a week.

Various channels can contact support; through email, direct phone calls, Facebook, Viper, Telegram, Whatsapp, and even a live chat with customer support. 

The customer support desk replied in less than three minutes when we contacted them via the LiveChat option. Given this short turnaround time, one can conclude that they are active and willing to help customers resolve their complaints.

A Robust Referral Program

What is juicier than an exchange with all the features listed above? An exchange with a win-win referral program for partners and existing customers.

With Currency.com, traders get up to a 50% bonus for referring a friend while the referral gets a 10% discount on trading commissions for the next three months. 

The only missing feature is that the platform does not issue referral payouts in Bitcoin or any other cryptocurrency. Therefore, affiliates who live in regions with banking restrictions may have a hard time withdrawing referral commissions.

Unsupported Countries

Unfortunately, Currency.com is not available to U.S traders due to OFAC sanctions. If you’re also from any of these countries, then you cannot use the platform:

  • Botswana
  • Ethiopia
  • Cambodia
  • Yemen
  • The Bahamas
  • Ghana
  • Democratic People’s Republic of Korea
  • Sri Lanka
  • Syria
  • Trinidad and Tobago
  • Tunisia
  • Iran
  • Pakistan
  • Bermuda

Final Words

Currency.com has many features that traders find attractive, especially the ability to trade the entire financial market from a single platform. In this review, we discussed these features and other pertinent information that will help traders from supported countries to decide whether or not to use the platform. 

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