When Bitcoin was first introduced in 2009, it had generated some interest, but the hype didn’t really happen until December 2017. This was when the pioneer cryptocurrency reached a massive peak of $20,000 and helped lots of people earn millions overnight. Who wouldn’t want that kind of return on their investment? From then on, traders and investors from every corner of the world have expressed their interest in investing in these new digital currencies that are revolutionizing the world of finance. How do you go about it? In order to buy or sell any cryptocurrency, you have to find a cryptocurrency exchange.
The number of exchanges has also climbed high because of the popularity of this digital currency, but no two exchanges are the same. To choose one, you have to do your homework because you want a good and reputable crypto exchange. The market has had more than a few scams and you have to proceed very cautiously if you don’t want to lose your money. With cybercriminals getting better at what they do, it is your job to be able to distinguish a good exchange from the bad ones. The best way to do so is to take a close look at the features and offerings of a cryptocurrency exchange before you finalize them.
There are a horde of options in the market, but none are like BitExChain. A lot of crypto investors don’t consider it as an option because it is newer than the rest, but its offerings have made up for its lack of experience in the market. The fact that it facilitates its clients in buying, selling and even storing crypto all in one place has helped it earn a positive reputation in the market. It hasn’t taken it long to jump to the top of the list of crypto exchanges and it is because of its impressive offerings. Let’s check this exchange properly:
What is BitExChain?
CoinFarmOU, a company with offices in Estonia, decided to form BitExChain after witnessing an increase in demand for a well-rounded and accommodating cryptocurrency exchange. The aim of the team was to develop a solution that would make buying and selling of cryptocurrency an easy, safe and fast process for everyone involved. Some exchanges have made it extremely difficult for people to do so and BitExChain was created to eliminate these hurdles for promoting crypto investment.
Therefore, when you choose BitExChain, you will come to realize that using this exchange is immensely simple and even if you have no prior knowledge or experience of buying cryptocurrencies, you can get started easily. With this exchange, you will be able to own Bitcoin or Litecoin, two of the most prominent cryptocurrencies in the market. But, this is not where the exchange’s offerings end.
An Over The Counter (OTC) trading desk has also been introduced by BitExChain, which makes it different from all the other cryptocurrency exchanges out there. Normally, people have to sign up with a broker to trade crypto, but this exchange saves you from that hassle. You can trade Bitcoin and Ethereum on BitExChain and not have to worry about the exchange’s low liquidity or the impact on prices when you want to buy a large amount of crypto. You can stay anonymous when using their OTC desk, trade as much Bitcoin and Ethereum as you like and without influencing market prices that might not go in your favor.
How do you Get Started with BitExChain?
To start using BitExChain’s services, you have to open an account with them and for this you have to fill a form that you will find on their website. It is a simple form that only takes you a few minutes to fill out. It asks you to share your first and last name, location and your phone number. An email address and password is also needed, with the former to be verified via a confirmation email. You also need to choose an account currency that you want to use for purchasing your crypto. But, before buying or selling, your account has to be verified in accordance with the KYC policy.
How Can you Verify your Account at BitExChain?
As mentioned above, first your email has to be confirmed and once that is done, you can send, receive or exchange crypto. But, to buy and sell, you have to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) policy. You can submit a government-issued document to confirm your identification like ID card, driver’s license or passport, a utility bill or bank statement to confirm your address. A copy of debit or credit card is also needed if you are planning to use it for your payments. The verification is complete almost immediately or within 24 hours.
How to Store Crypto on BitExChain?
When your account is verified, you can buy and sell crypto on BitExChain, but where will you keep it? It is not a physical commodity that you can withdraw so how will you keep it safe? Fortunately for you, this crypto exchange has developed their own crypto wallet for storing your Bitcoin and Litecoin. Made from advanced technology and with great security measures, the wallet keeps your funds in cold 92% of your funds in cold storage.
It is also insured for $100 million to compensate clients in case of any problems. Customer account segregation has also been implemented in accordance with international standards. Another security layer that BitExChain has added is to change your wallet address every time a transaction occurs so no one can track it in order to hack it. Likewise, your public key and PIN are also protected and not shared with anyone for your protection.
You can also take a look at BitExChain’s customer support, their security infrastructure, pricing and their banking and you will not be disappointed in any aspect of the exchange. They have done a great job into devising a smooth and flexible crypto exchange that can accommodate crypto investors and help them buy, sell and store their crypto with ease.