As the global financial market keeps evolving, clients’ appetite for trading more assets across various industries have spiked. Investors who used to focus on only traditional financial assets like currencies and shares have started developing interest in other asset classes.
This growing appetite has prompted investors to seek trading platforms that offer assets across major industries to promote easy adoption at the appropriate time.
Over the years, several financial firms have emerged boasting mouthwatering services, with some claiming to offer both traditional and digital assets in order to lure investors into their platform.
However, despite the influx of several trading platforms, there has not been an exchange that has found a balance in offering both cryptocurrency and non-cryptocurrency assets. It is either the platform that is more focussed on traditional financial assets than cryptocurrency assets or vice versa.
One firm that has been able to bridge the gap between the cryptocurrency industry and the traditional financial assets is Currency.com.
Currency.com is a Belarusian-based exchange that functions both as a cryptocurrency exchange and a tokenized security exchange. Since Currency.com is also a tokenized security exchange, it offers tokenized versions of assets across markets like indices, shares, commodities, bonds, and currencies. The exchange converts these assets to tokens that mirror the market value of the real assets.
Overview of Currency.com
In January 2019, Currency.com was launched in Belarus describing itself as the “world’s first fully functional trading platform” for tokenized securities. According to the exchange, it is licensed under Belarus’s laws with best-in-class Anti-Money Laundering (AML) and Know-Your-Customer (KYC) rules.
Currency.com allows investors to use their cryptocurrency holdings like Bitcoin (BTC) and Ether (ETH) to trade traditional financial instruments across major industries such as commodities, shares, bonds, indices, and currencies. Operating a tokenized security exchange gives Currency.com the leverage of issuing tokens that are pegged to the prices of these underlying traditional assets. Investors who choose to trade these tokenized traditional financial instruments will not directly trade the real assets but would only speculate the values of the underlying assets.
Based on this, when the price of the real asset rises or falls, its tokenized version follows suit, thus giving investors the feeling of directly trading the actual assets. The exchange is poised to disrupt and revolutionize the global financial space through the fusion of the crypto and traditional financial markets.
Although Currency.com is relatively new, the exchange provides the best features and services that cannot be found on other platforms that have been in existence for years.
Features of Currency.com
- Fully Regulated Exchange
One of the major issues rocking the cryptocurrency space is the firm’s inability to secure the required operational license from relevant authorities. This constraint has deterred investors from diving fully into the market due to fear of possible loss of funds and sensitive information.
However, Currency.com is not associated with such a problem, as the exchange claims to be fully regulated by the High Technology Park (HTP) following the adoption of Progressive Decree No 8 on the Development of a Digital Economy’ as passed in Belarus. Being licensed under the laws of Belarus, a member of the European Union, Currency.com is prompted to comply with the requirements of Decree no 8, which involves the strict adherence to AML and KYC requirements and a yearly audit on the firm’s account, to prevent malefactors from using the platform to conduct illicit activities.
- Provision of Educative Trading Material
Mostly, the success of a trader is determined by his or her level of knowledge about the market. Currency.com understands the importance of enlightening traders on how to trade as it believes that not everyone has a sufficient understanding of its available markets. Thus, the Currency.com exchange has added several education materials to arm investors with the right knowledge to begin their trading journey. Not only that, but Currency.com also gives users the opportunity to create demo accounts for the practice. This measure enables investors to practice all they have learned using dummy assets while building their confidence.
- Safety of Funds and Data
All regulated trading platforms usually require clients to provide sensitive information in compliance with the AML and KYC laws. These data, if not protected, can fall into the wrong hands. Currency.com has adopted several measures to protect investors’ data as prescribed by the EU General Data Protection Regulations (GDPR).
In addition, the firm has gone a step further to ensure that clients’ deposits are safe by adopting advanced security measures. The exchange has leveraged tools from various blockchain-based security platforms, including Chainanalysis, Elliptic, and Coinfirm.
- Efficient 24/7 Customer Support Service
Despite all the tools and trading strategies put in place to give users the best trading experience, there is always a possibility that issues or need to make inquiries may come up. Currency.com understands that this need is inevitable and has established a team of professionals to handle all matters. The exchange’s customer support center is available 24 hours daily and seven days a week. Clients can forward their complaints and inquiries using any available mediums, including the exchange’s phone number, email, or a LiveChat widget.
- Multiple Assets Support
Currency.com allows clients to invest in several assets that cut across major financial markets such as currency, shares, bonds, commodities, and indices. Currently, there are more than 1,500 tokenized assets, and the exchange is poised on issuing more than 10,000 tokens pegged to the market prices of various asset classes over its course of existence. With the availability of multiple assets, traders can conveniently switch from one asset class to another as the need arises without having to worry about any constraint whatsoever.
Currency.com Available Markets
As we pointed out earlier, Currency.com enables investors to use their cryptocurrency holdings like Bitcoin (BTC) and Ether (ETH) to trade several assets from varying markets in the traditional financial markets. This is made possible by tokenizing these assets, which track the prices of the underlying asset without requiring investors to trade the real asset directly. With that said, the available market on Currency.com include:
- Tokenized Shares
Several traders have, at one point or the other invested in shares of reputable companies. Currency.com realizes that its clients may want to venture into the shares market and has added shares of popular companies such as NVIDIA, Fiverr, Visa, Netflix, Apple, Tesla, Uber, AT & T, Slack Technology, etc.
- Tokenized Commodities
The commodity market indeed is one of the oldest in the world, and as such most traders are familiar with it. Currency.com has added the tokenized version of most popular commodities such as gold, silver, oil brent, natural gas, platinum, palladium, U.S. cotton, and much more.
- Tokenized Indices
The exchange provides access to tokenized indices, including some of the world’s most popular in the market, such as US 500, US 100, US30, EU50, FR 40, VIX, and several others. Traders just need to select any of the assets in this market and speculate the price.
- Tokenized Currency Pairs
Currency.com has also provided support for currency assets. Since the last decade, investors have flooded the Forex market due to its high return on investment. For this reason, the exchange has added several currency pairs up to 130, including popular pairs like EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/RUB, USD/CAD, and more.
- Cryptocurrency Market
Since the value of the cryptocurrency market skyrocketed in late 2017, several investors have ventured into the space, looking for ways to benefit from the market opportunities. Gradually, the cryptocurrency market has started gaining momentum as adoption is on the rise.
Lately, investors do not want to be left out as they are always on the lookout for new crypto projects that could bring high returns. On Currency.com, more than 150 cryptocurrency pairs have been added to satisfy investors’ trading needs. They include BTC/USD, ETH/USD, LTC/USD, XRP/BTC, ETH/BTC, etc.
- Tokenized Government Issued Bond
A government bond is issued by a national government to finance short and long term government spending, generally with a promise to pay periodic interest payments and to repay the face value on the maturity date.
Currency.com only supports the trading of Belarusian government bonds.
Currency.com Trading Platform
The design of the exchange’s trading platform is suitable for both beginners and experienced traders. The platform is user-friendly, and it is equipped with exciting features to make users’ trading experience hitch-free. Several tools have been added to guarantee clients’ success. These tools include over 75 advanced charting tools, stop-loss, and take-profit setup, and negative balance levels. With these offerings, it is convincing that the exchange is focussed on making trading easy for clients.
In addition, being a new generation exchange, Currency.com understands that technology has evolved. Online trades are no longer conducted only on PC, which prompted the exchange to develop an app-based trading platform to support its existing web version. With this offering, clients can conveniently download and install the Currency.com trading app to their smartphones available on both Android and IOS, thus allowing users to trade anywhere and anytime they desire.
Currency.com Leverage Trading
Currency.com allows users to trade with or without leverage up to 100x on certain assets. Using this trading tool, users can increase their trading positions beyond what is available in their accounts at the time. The exchange has different leverage packages depending on the asset class a client chooses. They include a 10x leverage on cryptocurrencies, 20x leverage on tokenized stocks, 100x leverage on tokenized Indices, and 100x leverage on tokenized commodities.
For instance, if a client has $50 and chooses to trade Bitcoin with leverage, he will be allowed to take a $500 market position. Investors have been advised to apply caution when using leverage to trade because even though it offers enormous returns, it can also lead to massive losses.
Deposits & Withdrawals
Currency.com provides support for both crypto and fiat payment methods. Fiat payment can be made via Visa, Mastercard, and bank wire transfers. In the event of a failure in processing payments, users can opt for the other available payment channels to save time. The minimum deposit requirement for debit and credit card alternatives is $100, while bank transfers are allowed a minimum of $50 deposits.
However, the maximum deposit for both methods is $24,000. Currency.com has spelled out the fees associated with using a particular payment channel to keep users informed on the chosen method. Clients who use Visa or Mastercard to make deposits incur a 3.5% commission while investors who opt for the bank transfer alternative are not required to pay any deposit fee.
On the other hand, withdrawals on Currency.com are not free as different charges are imposed on users when they try to take out money from the platform. For Visa card withdrawals, Currency.com charges 2.4% of the amount with an additional $3, while Mastercard withdrawals are charged 1.9% and an extra $3.
For the bank transfer withdrawal method, Belarusian users are required to pay only $8 as fee, while users located in other countries are prompted to pay a minimum of $20 and a maximum of $150 depending on the amount of transaction. Also, crypto withdrawals involving BTC attract 0.0005 BTC, ETH withdrawal comes with a 0.02 ETH fee, among others.
Even though Currency.com tries to be transparent with its fee, it is unfair to charge residents in other countries higher than their Belarusian counterparts when they use the bank transfer method for withdrawal.
Frequently Asked Questions
- Does Currency.com Service Clients From All Over The World?
No. The exchange only services clients from countries not included in the Financial Action Task Force (FATF) list of high-risk and monitored jurisdictions. Countries that are prohibited from using Currency.com include the United States, Ghana, Iceland, Albania, Democratic People’s Republic of Korea (DPRK), and many others.
- Is Currency.com Linked to Capital.com?
Yes. Capital.com, a firm regulated by both CySEC, the FCA, and more recently, Belarusian authorities is the technology provider for Currency.com. Therefore, although no license information is provided, Currency.com’s claim to be fully regulated applies to emanate from this backing from Capital.com, and the company’s abiding with local regulation.
Currency.com is a trading platform that gives crypto owners and other investors the chance to trade tokenized assets from major markets. The platform has put in place adequate security measures to keep users’ funds and information safe and has equipped its trading platform to be user-friendly, seamless, and fast.
Although the exchange claims to be regulated under Belarusian laws, investors need to tread with caution as there is no documentation provided to back up this claim other than the high-profiled partnership with Capital.com.