With the cryptocurrency industry booming, many newcomers are looking for reliable wallet options. Among these options today is Zengo. In this Zengo Wallet review we analyze its features and more.
Recently, Zengo launched its desktop wallet, making it accessible to a wider range of users. Previously only available on mobile devices, this long-awaited version provides a more convenient experience while upholding the same level of security as users have come to expect from Zengo.

Key Findings

What is Zengo Wallet?

Zengo Wallet is a non-custodial wallet. It enables users to store, buy, sell, and exchange cryptocurrencies with ease. Its mission is to democratize access to cryptocurrencies through innovative technology that eliminates traditional complications such as seed phrases. Zengo uses the Multi-Party Computation (MPC) approach.

As we mentioned before in our Zengo Wallet review, the wallet uses MPC instead of private keys, splitting the information needed for transaction authorization between the user’s device and the servers. By doing this, Zengo ensures there is no single point of failure. This ensures a high level of security and Zengo also offers facial recognition for added safety measures and easy account recovery.

Regarding some of its features, Zengo users can easily store over 180 different crypto assets, stake selected tokens, and connect to Web3 and dApps using WalletConnect. Zengo Wallet also supports fast transactions with low fees. Its advanced security measures and intuitive interface make it an ideal choice for users of all experience levels and therefore one of the best crypto wallets 2024.

Is the Zengo Desktop Wallet A Game Changer?

The launch of the Zengo desktop wallet is a new evolution in the cryptocurrency world, bringing keyless security technology to the desktop environment. With its Multiparty Computing (MPC) approach, the desktop version gives users a much easier way to manage assets in a secure environment. This new development bridges the mobile device and the desktop, offering a secure and seamless multi-platform wallet, suitable for users who like to manage their assets on either larger screens or mobile devices.

Some of the advantages of desktop accessibility include:

• Higher throughput: Desktop wallets provide a better experience for users who want to multitask and have more specific control of their wallets.
• Greater compatibility: The desktop wallet feature makes it easier for users to interact with the world of DeFi and connect their wallet to apps while using their desktop devices.
• Increased security: Together with Zengo’s innovative recovery mechanisms, desktop functionality improves user convenience without compromising on security.

Cryptocurrencies Supported by Zengo Wallet

The next part of our Zengo crypto wallet review is about the cryptocurrencies supported by the wallet. Zengo supports more than 10 blockchains and over 180 crypto assets, making it a great choice for anyone seeking a secure, user-friendly digital wallet with access to various cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin. Additionally, you can store some of the top-performing meme coins like Dogecoin, Shiba Inu, and Pepe and stablecoins like Tether and USDC. With support for ERC-20 and BEP-20 tokens, you can also add countless other tokens to your wallet.

As well as crypto coins and tokens, you can also store and view Ethereum and Polygon NFTs, adding to the wallet’s versatility. For those interested in passive returns, you can easily stake both Ethereum and Tezos directly in-app.

Zengo’s latest update opened the door to the fantastic world of decentralized finance – DeFi. Through the integration with WalletConnect, you can work many DeFi applications on the go and reap the rewards these new protocols offer.

Zengo Wallet Fees & Costs

The wallet offers its users two alternatives: one paid and one free.

If you’re looking for a more affordable option, Zengo Essentials gives you a solid and secure foundation for free. With features like no-seed phrase security and NFT spam filtering, you can start your cryptocurrency adventure worry-free.

While this version is free, you will have to pay a fee when you buy, sell, or exchange cryptocurrencies. These fees include network fees that are not paid to Zengo, exchange fees, and service fees that are paid only to the providers.

If you’re looking to take your cryptocurrency security to the next level, Zengo Pro is your best choice. For only $9.99 per month or $69.99 per year, you’ll have access to exclusive features like theft protection, inheritance transfer, and Web3 firewall. Imagine safely leaving your cryptocurrencies in heirloom or being protected from the latest online scams – Zengo Pro gives you the peace of mind you need to enjoy your investments!
Pro version users also benefit from service fees reduced by 50%.

In both versions, you can buy cryptocurrencies directly from the app through third parties, although this involves additional fees. Fees can be as high as 10%.

Is Zengo Wallet User-Friendly?

The Zengo Wallet is popular thanks to its user-friendly interface, which has made it an ideal solution for any cryptocurrency enthusiast. The wallet is very intuitive and easy to navigate, marked by a fluidity that makes Zengo stand out in the crypto wallet sector.

Zengo Mobile App

Convenience is one of the biggest advantages when using Zengo. As a secure mobile wallet, it allows you to access and trade your cryptocurrency account and compatible NFTs on the go. Logging in via a mobile device makes the authentication process easier, especially with biometric facial scanning.

Zengo’s mobile app makes it much easier to connect to Web3 platforms for trading, gaming, trading NFTs, and more by scanning a QR code through the app. The app makes it possible to connect to any dApp or platform that uses the Polygon or Ethereum networks.

Even switching between iOS and Android devices is easy once you transfer the recovery file from iCloud to Google Drive or the other way around. Zengo’s app is available on both iPads and Android tablets, providing the same features as the mobile app.

Zengo Desktop Experience

The desktop version of Zengo is a combination of elegant design with key functionalities. Its design prioritizes simplicity, making it easy to manage your cryptocurrencies and view your transactions.

The desktop version offers the same with its keyless signature security supported by Multiparty Computation (MPC) that is available on mobile, providing complete protection. It also supports interaction with DeFi desktop platforms via WalletConnect, opening an avenue for DeFi trading and token management.

This newly enhanced accessibility transforms Zengo into a multi-platform wallet for users who want a cryptocurrency management solution that is versatile, unified but above all secure.

Zengo Wallet Security Features

Now to one of the most important questions: Is Zengo Wallet safe? With Zengo, you can sleep easily. This digital wallet has proven to be one of the most secure on the market, resisting any hacking attempts since its launch in 2018. Earlier this year, Zengo publicly challenged hackers to steal 10 Bitcoins they stored in a test wallet, to no avail.

What is Zengo’s secret? Its focus on security is unique. Unlike wallets that rely on a seed phrase to recover your funds, Zengo uses an advanced technology called MPC (Multi-Party Computation). This means that multiple layers of security protect your cryptocurrencies without memorizing a secret passphrase that could get lost or fall into the wrong hands.

In addition, Zengo offers three-factor authentication that combines your email, facial recognition, and a digital recovery file. This creates an almost impenetrable security barrier for anyone trying to access your funds without authorization.

But the security continues beyond there. Zengo also includes a Web3 firewall that protects you from fraudulent transactions. This tool alerts you every time you are about to interact with a smart contract, providing different alerts based on the level of risk involved.

In short, Zengo gives you both security and peace of mind that cannot be matched when it comes to managing cryptocurrencies. Its advanced technology along with its multiple layers of security and its focus on the user make it a perfect choice for those who want their assets to be safe.

Zengo Wallet Customer Support

One of Zengo’s strengths is its customer service – if you need help, they are available for you 24 hours a day, 7 days a week in your native language.

You can contact them via email, contact form, live chat, or Zengo X. If you’re a Pro user, you’re guaranteed a response in less than an hour – often in as little as five minutes.

Knowing that there is a team of experts ready to help you, especially when it comes to your cryptocurrencies, is an incredible peace of mind.

The proof of customer satisfaction and reliability is clear in their reviews, Zengo Wallet has earned a positive reputation on TrustPilot, getting 4.4 stars out of 839 reviews. Users highlight its interface, security features, and excellent customer support.

How to Get Started with Zengo Wallet in 2024

Zengo is looking to remove certain major barriers in crypto, among them setting up your first crypto wallet.
Here’s how to get things up and running:

Step 1: Download the Zengo Wallet app or Sign Up on Desktop

Access the Google Play Store or App Store and locate Zengo. Alternatively, visit the Zengo website and find the app from there. Then download the app and install it.

You can also access Zengo through desktop which we will walk you through now. First, click Sign Up on the Zengo website. Here you’ll be prompted to enter your email address. Once you do this, Zengo will send you a confirmation email/ Open your email and click on the link provided.

Once you have done this, you’ll be brought back to the Zengo wallet site. Here you will be prompted to download the app on your mobile and complete the rest of the process there.

Step 2: Create an account

Once your app is installed on mobile and opened, follow the prompts to create your secret MPC shares. This is Zengo’s unique alternative to a seed phrase, whereby two “secret shares” are created, one on your phone and one on Zengo’s servers.

Step 3: Create a recovery kit

You’ll also be prompted to create a recovery kit. This is a form of 3 Factor Authentication compromised of your email account, 3D FaceLock (an encrypted biometric scan), and your Zengo recovery file.

Your Recovery Kit permits you to recover your Zengo wallet at any time if you lose access or move from one device to another.

Step 4: Use the wallet

Set up a biometric facial lock if you prefer and start accessing the wallet with your Zengo Wallet username. You will then be able to buy cryptocurrencies through third-party providers, receive cryptocurrencies from exchanges or other wallets, or even just explore the app and discover what it can offer you.

Zengo Wallet vs. Competitors

If we compare Zengo with Trust Wallet — another popular software wallet — Zengo differs in its keyless security. Thanks to its MPC technology it eliminates the need to use private keys or seed phrases, while Trust Wallet relies on using seed phrases for information and key recovery. Although Zengo is easily accessible to all users and has robust security, it does not have a wide range of cryptocurrencies as Trust Wallet does.

As for Ledger, a physical wallet, Zengo provides the security and convenience of a mobile and desktop app without requiring physical form hardware. Ledger, on the other hand, provides unparalleled connection security even though a device is required for access.

Zengo focuses on easy-to-use interfaces along with unique DeFi compatibility, making it an ideal choice for beginners and experts, while Ledger is more suitable for those with high-value wallets whose top priority is maximum security.

Conclusion

Zengo Wallet continues to transform cryptocurrency management thanks to its keyless security. It is one of the easiest and most convenient wallets to use on the market with support for a wide range of assets. The recent addition of its desktop wallet is a major draw because it offers seamless synchronization with the mobile app.

Whether you are an experienced trader or a first-time crypto user, Zengo provides a versatile, convenient, and most importantly secure experience.

If you are on the lookout for a wallet that offers robust security, is simple to use, and has cross-device access, Zengo Wallet is worth looking into. Try it out today and discover all that this wallet has to offer.

Our Methodology

We focus on providing unbiased, up-to-date, and accurate information about wallets like Zengo. For our Zengo review, we took into account different factors such as user experience, security features, assets and functions, user opinions, and comparison with the competition. This multi-pronged approach allows our content to remain helpful, reliable, and appropriate.

FAQs

The post Zengo Wallet Review 2024: Secure and User-Friendly Wallet Now on Desktop appeared first on ReadWrite.

With Bitcoin trading near $100,000 and altcoin prices enjoying a significant rally, everyone wants a piece of this ‘up-only’ market. However, with the market in a sustained bull mania since the beginning of this year, the prices have already jumped considerably.

There simply isn’t an opportunity that allows an investor to be truly early—at least not in the coins already widely available on exchanges. The way to such an early opportunity lies in presales.

A cryptocurrency presale is a chance for an investor to realize the potential of an idea early on before many people have either caught on to it or can dare to invest at such an early stage. However, it is this uncertainty that can yield positive results when taken advantage of.

The LuckHunter Metaverse Casino is currently offering that chance to invest in a project during its early stages. It is holding a presale for its native token, LHUNT, which powers its virtual casino. This combines blockchain technology and virtual reality (VR) to deliver a fully immersive casino environment.

With LuckHunter set to lead the way with its mixed-reality casino, its LHUNT presale offers a massive opportunity. However, to understand the worth of a project, having a bold mission and a massive target market isn’t enough—it must also have sound tokenomics.

The fact is hundreds of new tokens get launched every day, and not all are the same. Some are more valuable than others, and tokenomics helps you understand the difference.

Tokenomics are simply economic models behind a crypto asset, covering factors like total supply, distribution, utility, and economic stability. These factors help you assess the potential value of a token and identify the true gems while avoiding those with no substance. 

 When it comes to LHUNT, LuckHunter has designed really solid tokenomics, starting with capping the supply at 8,066,087,838 $LHUNT tokens. Of this total supply, LuckHunter has allocated a substantial 50% to the presale.

This means that the majority of LHUNT holders will be those who believe in the coin right from the beginning, potentially encouraging long-term holding. Since the presale offers investors the lowest possible entry point, these holders are more likely to hold for the long term, as they tend to remain profitable.

In LuckHunter’s case, this trend is further supported by the scheduled price increases. This means LHUNT prices go through small increases at regular intervals, even during presale.

 For instance, at the time of writing, one LHUNT is worth $0.00112, and the next increase will push it to $0.00124 per LHUNT. This increment will be triggered once the goal of $600K for stage two is reached. It is already more than halfway completed. LuckHunter has also set the listing price for its token at $0.005.

In addition to securing the best entry point for future growth, LHUNT presale buyers benefit from staking rewards. By locking up their tokens, they can earn rewards that grow along with the platform. Other benefits include free lottery tickets, up to 100% credit in their casino account to start playing immediately, priority in promotional campaigns, and bonus tokens every week.

LuckHunter has also allocated 5% of its token supply to the presale bonus, making it another win for early investors. This shows LHUNT’s distribution is skewed towards those who believe in the project and support its growth.

Of the remaining supply, the project has set aside a significant portion—20%—to facilitate LHUNT’s trading on decentralized exchanges (DEXs) and centralized exchanges (CEXs) once it gets listed. Major exchange listings are critical for a token’s price discovery.

5% of the supply is allocated to marketing efforts, including partnering with leading figures in the crypto, gaming, and VR industries to boost the project’s visibility, engaging affiliates to drive user acquisition, and running highly focused ad campaigns across major social media platforms for maximum outreach.

The third-largest allocation is for staking rewards at 15%, while 1% of the supply is assigned to airdrops and referrals, respectively. For the team and advisors, LuckHunter has allocated 4% of LHUNT token supply to recognize their involvement in the project.

Now, when it comes to token utility, it is yet another thing working in LHUNT’s favor, as LuckHunter’s entire ecosystem revolves around it.

The token serves as the primary utility currency, used for gameplay, staking rewards, referral bonuses, and accessing exclusive features. Holding LHUNT tokens also reduces one’s transaction fees and provides access to Metaverse Casino tables.

With a combination of fixed supply, increased token utility, smart incentives, and an ambitious goal of capturing the massive online gambling market through cutting-edge VR technology, exclusive games, and a community-driven approach, LHUNT is well-positioned to seize market demand. This can drive its price skyward amidst the growing crypto adoption and ongoing bull run!

The post LHUNT Tokenomics Unlocked: Understanding the LuckHunter Ecosystem appeared first on ReadWrite.

One of the most disruptive technological advances of this decade has been blockchain, which has given rise to a multi-trillion-dollar cryptocurrency industry. While crypto assets have captured the attention of the masses and capital, the underlying technology has far greater potential that goes beyond the crypto market.

By enabling the secure sharing of information, blockchain has proven to be beneficial in many sectors, including finance, healthcare, supply chain, real estate, cybersecurity, and gaming.

In online gambling, this distributed ledger of immutable records stored across a network of computers particularly showcases the potential to revolutionize the industry by offering increased transparency, trust, and security.

This is why LuckHunter has adopted blockchain technology as the foundation for its metaverse casino. By integrating cutting-edge blockchain tech, LuckHunter is offering an engaging, secure, and transparent gaming environment where users can enjoy unique traditional casino games such as blockchain poker.

Blockchain poker is a decentralized game of poker with provably fair mechanics. Traditionally, online casinos rely on Random Number Generators (RNGs) to guarantee fairness, requiring players to depend on third-party audits for verification.

With its unique blockchain poker, LuckHunter guarantees transparency and fairness by providing verifiable proof of the game’s integrity.

However, this is just one of the many in-house developed games LuckHunter has in store for its users that they won’t find anywhere else. With the likes of crypto slots, customizable blackjack, and VR-based gaming, the metaverse casino aims to deliver a novel and action-packed experience for players.

Ensuring a Safe and Satisfying User Experience

Known for its openness, permissionlessness, and decentralization, blockchain technology is having a significant impact on how online casinos run, offer fair gaming, and improve security for their users. 

Unlike traditional online casinos, which utilize centralized systems, where operators monitor the entire gaming experience and put the integrity of the games in question, the decentralized nature of blockchain removes the need for a central authority. 

Each transaction and game result is actually validated by a network of users and recorded on the blockchain, which anyone can go to and verify. This way, LuckHunter is able to offer provably fair gaming that helps it gain user trust and confidence.

Then there’s the matter of security. Given the involvement of financial transactions and personal data, security is of critical importance at online casinos. By eliminating single points of failure through decentralization, the use of blockchain further enables LuckHunter Casino to reduce the risk of fraud and offer enhanced security and privacy. 

Besides utilizing the permanent record of blockchain, LuckHunter also makes use of encryption protocols to protect user data and assets. 24/7 monitoring meanwhile helps it detect any potential threats while bug bounty programs are put in place to identify and patch any issues before they can be exploited.

In addition to it all, LuckHunter’s smart contracts and blockchain integration go through third-party audits from reputable firms like SolidProof that further ensure the safety of the platform. Smart contracts, which are self-executing contracts, actually help with the automation of transactions like payouts and lower the possibility of error or delay by removing the involvement of humans. 

The LuckHunter casino also uses cryptocurrencies to offer players the advantages of increased transaction speed and reduced fees, along with a degree of anonymity that conventional payment systems simply can’t. 

So, while blockchain technology is helping make LuckHunter a trustworthy and secure casino, it is just one aspect of it. The casino also utilizes VR and mixed reality to spice up the entire experience for its players. 

The use of VR enables the casino to build a virtual world featuring popular casino cities but with a twist. In these virtual cities like Hyper Macau, players can have a thrilling experience, much like they would in the real world. There are also casino tables that players can buy, rent, or lease and utilize to generate income.

At the same time, LuckHunter makes sure that its users won’t have to deal with regulatory risks. A player can enjoy all these technological benefits while remaining safe in the regulatory environment. Being a fully licensed platform means LuckHunter has to follow strict rules to ensure legal compliance and a secure gaming environment.

However, this doesn’t mean users have to go through a lengthy KYC verification process. In fact, its onboarding is pretty smooth. On top of it all, LuckHunter offers several lucrative opportunities, which include presale investment, staking rewards, and affiliate and referral programs. There’s even a skill-based gaming app for players to enhance their gaming abilities while earning rewards.

So, this way, LuckHunter is able to make sure that it always remains secure and operational, providing a safe and legal environment for all of its users while ensuring their satisfaction through new exciting casino games and reward-earning opportunities.

The post LuckHunter’s Blockchain Poker: Setting a New Standard for Provably Fair Gaming appeared first on ReadWrite.

Best Wallet recently launched its presale event, allowing investors to purchase $BEST tokens before the first exchange listing.

This guide explains how to buy Best Wallet Token at presale prices. We also explore how Best Wallet works, and what the future holds for the $BEST price.

How to Invest in Best Wallet Token ($BEST)- Beginner’s Guide

We’ve covered the basics, so let’s move on to our step-by-step investing guide.

Read on to invest in the Best Wallet Token presale in under five minutes.

Step 1 – Download Best Wallet

All presale steps can be completed within the Best Wallet ecosystem. Therefore, the first step is to download the Best Wallet app.

Ensure you click the download link from the Best Wallet website rather than search for it manually. This ensures you’re using the official app.

Step 2 – Buy Some Crypto 

The Best Token presale accepts $ETH and $USDT on the Ethereum network. You can easily deposit these coins into Best Wallet. Just click “Ethereum” and copy the wallet address. Proceed to transfer the respective coin to this address and wait about a minute for confirmation.

Alternatively, those without $ETH or $USDT can buy some coins on Best Wallet. It has partnered with reputable fiat on-ramp providers, so you can instantly purchase coins with a debit/credit card or e-wallet. Some providers require KYC while others don’t, so check this before proceeding.

Step 3 – Go to the Upcoming Tokens Tab 

As mentioned, the presale is accessible directly in the Best Wallet app. You need to click the “Upcoming Tokens” tab.

You will see a list of available presales; click “Best Wallet.”

Step 4 – Buy $BEST Token 

The final step is to enter the presale investment requirements.

This requires:

• Purchase Coin: Choose from $ETH or $USDT, depending on what’s currently stored in Best Wallet.
• Amount: Type in the number of coins to invest (e.g., 0.3 $ETH).

You can now confirm the purchase. The $ETH or $USDT coins will be deducted from the Best Wallet balance. This means you can close the app, as the presale investment is confirmed on the blockchain.

You will receive your $BEST tokens after the presale ends, which will be in May 2025.

What Is Best Wallet?

Best Wallet is considered one of the best decentralized crypto wallets. It supports self-custody storage, so only wallet users control the private keys and backup passphrases. However, Best Wallet – which is available as a mobile app for iOS and Android, is more than just a self-custody wallet.

It has built a diverse ecosystem that comes packed with products and services. All of which can be accessed without leaving the Best Wallet app. This includes a decentralized exchange that supports over 60 networks, including Ethereum, Solana, BNB Chain, and Polygon.

This enables Best Wallet users to swap thousands of tokens almost instantly. Best Wallet also supports fiat purchases, so investors can buy coins with everyday payment methods. It also has an iGaming hub, which connects users to the best Bitcoin casinos and sportsbooks.

Another feature is the presale aggregator, providing access to pre-vetted crypto launches. That said, some Best Wallet services are still being developed, including the browser extension, derivatives trading, advanced order types, analytics, MEV protection, and an NFT gallery.

These roadmap objectives are built into the project’s low valuation, meaning presale buyers have a first-mover advantage. We should also note that $BEST is a utility token, so people have legitimate reasons to hold it. This includes lower wallet fees, early access to new presales, and enhanced staking payouts.

Reasons Why Best Wallet Token Is a Strong Buy

Summarized below is the Best Wallet Token investment thesis:

• Huge Wallet Ecosystem: Best Wallet offers an extensive all-in-one ecosystem, meaning users no longer need to rely on external providers. Whether users want to buy or swap tokens, invest in presales, or trade derivative products, everything can be accessed within the Best Wallet app. These features are in addition to its self-custody storage and decentralized transactions.
• Wallet-Backed Tokens Are an Undervalued Market: According to CoinMarketCap, the total value of all wallet-backed tokens is currently $3.3 billion. This niche industry has exploded in recent weeks, with many tokens outperforming the broader markets. This shows that the narrative’s current valuation could be worth a small fraction of its true potential.
• BEST Is Utility-Driven: Buying $BEST tokens not only offers an attractive upside but also benefits holders from multiple use cases. As mentioned, those holding $BEST get discounted fees when sending funds. They also get early access to new token launches, meaning the best price possible. Holders also receive governance rights, so they’re eligible to vote on important project proposals.
• Presale Discounts: The presale runs across 100 stages, with each increasing the cost price. This incentive ensures that early investors are rewarded. For example, the current presale price is $0.02275 per $BEST token. This will have increased to $0.024975 when the final stage arrives. As such, an immediate upside of 9.7% is available for those investing today.

The Verdict

We’ve explained how to buy Best Wallet Token via the recently launched presale. Investing early provides the lowest cost basis, with the presale price increasing as each stage ends.

Ultimately, holding $BEST provides exposure to the broader wallet industry, which is increasingly shifting toward self-custody solutions.

Those proceeding can invest directly in the Best Wallet app. Supported coins include $ETH and $USDT, and there are no minimum investment requirements.

FAQs

The post How to Buy Best Wallet Token ($BEST) – Detailed Guide appeared first on ReadWrite.

The Tangem wallet offers a fresh take on hardware wallets, steering clear of additional devices and complex interfaces. In this Tangem wallet review, we explore how it combines the ease of an app with the simplicity of NFC-enabled cards, making crypto storage feel both secure and seamless. For those who want the advantages of a hardware wallet without the learning curve, Tangem provides a refreshingly straightforward solution.

Let’s dive into Tangem’s features, security measures, and why it stands out as a convenient choice for both newcomers and experienced users.

What Is Tangem Hardware Wallet?

The Tangem wallet is a unique crypto storage solution combining the security of cold storage with the convenience of an app and card-based system. Ever since its launch, Tangem aims to make self-custody simple, user-friendly, and easily accessible.

The Tangem hardware crypto wallet protects your crypto assets by using secure NFC-enabled cards that pair with a mobile app, eliminating the need for a traditional hardware device. This design keeps your assets secure offline, away from online threats and vulnerabilities.

The wallet supports over 70 networks and thousands of cryptocurrencies, all of which can be managed, sent, or received directly through its mobile app. The app also allows users to access various Web3 applications through WalletConnect, bringing added functionality to Tangem’s ecosystem.

Key Features of Tangem Wallet

Let’s look at the key features of Tangem wallet:

• NFC-enabled card design: Simplifies crypto storage with NFC cards that work by tapping on a smartphone, avoiding the need for a traditional hardware device.
• Mobile device integration: Pairs your mobile device seamlessly with the Tangem wallet app for easy asset management, sending, and receiving.
• Cold storage security: Each Tangem card has an embedded secure element chip that keeps assets safe in an offline environment, protecting them from online threats.
• Support for 6,000+ cryptocurrencies: Offers broad compatibility, supporting over 2,000 digital assets, all managed through the app. Whether it’s Bitcoin or your favorite meme coin from the best meme coins list, Tangem supports it.
• Tangem Ring: Adds an elegant, wearable option for secure crypto management on the go.
• Cost-Effective Pricing: Positioned at a favorable price point compared to other hardware wallets, making secure storage accessible to a wider range of users.

Tangem Wallet Pros and Cons

Let’s look at the pros and cons of this hardware wallet.

Tangem Wallet UI and UX (User Interface & User Experience)

Let’s see what makes this cold wallet unique from the perspective of the end-user.

Quick Tap-to-Use System

Tangem’s quick tap-to-use system is a standout feature that enhances convenience and usability. Unlike traditional hardware wallets that often require a lengthy setup with USB connections or Bluetooth pairing, Tangem allows users to access and manage their crypto assets with a simple tap of their NFC-enabled Tangem card on a smartphone. This tap-to-use functionality is particularly appealing for users who prioritize speed and simplicity, as it eliminates the hassle of dealing with additional cables or tech configurations.

With this system, users only need their smartphone and the Tangem card to securely sign transactions, check balances, or access other wallet features. The technology behind this system not only adds to the wallet’s ease of use but also strengthens security by minimizing points of potential vulnerability, keeping the card offline except for brief, NFC-enabled interactions.

No Devices, No Batteries

Tangem’s design eliminates the need for any extra device, meaning users can securely store and access their assets without the hassle of managing a bulky gadget with screens, buttons, or cables. With only the Tangem NFC card and a smartphone, users have everything they need to manage their crypto. This “no device” approach not only enhances portability and convenience but also removes the need for battery management or device upkeep, which are common requirements with traditional hardware wallets.

The simplicity of this system caters to users who want reliable crypto storage without worrying about charging, updating, or replacing hardware. By reducing maintenance needs, Tangem provides a minimalist, user-friendly solution that allows users to securely store their assets with confidence and ease.

Multi-Card Backup System

Tangem’s multi-card backup system offers an extra layer of security and redundancy, allowing users to create backup cards that work seamlessly with the main Tangem card. This feature eliminates the need for traditional seed phrases, which can be complex to store securely and risky if lost. Instead, users can set up multiple Tangem cards as backups, ensuring they have secure access to their assets if the primary card is ever lost or damaged.

This system makes the backup process far more user-friendly and less intimidating. Each card functions as a duplicate, providing users with an intuitive way to manage redundancy without compromising on security. By keeping all backup cards offline, Tangem maintains the cold storage security model while simplifying asset recovery, making it an ideal solution for users who value ease of use without sacrificing robust protection for their assets.

Stylish Tangem Ring Option

Tangem takes crypto storage a step further with the Tangem Ring, a stylish and innovative wearable that combines convenience with elegance. Designed for users who prefer their tech integrated into their lifestyle, the Tangem Ring functions similarly to the Tangem card, allowing secure tap-to-use access directly from the ring. This wearable option means users can manage their crypto on the go with just a tap of their ring to their smartphone, blending security and accessibility with a unique, modern look.

The Tangem Ring is also a statement piece, adding an element of style to the functionality of secure crypto storage. It offers the same security as the Tangem card but in a form factor that appeals to those who appreciate refined, wearable tech. For users who want to take their crypto management beyond traditional devices and into an everyday accessory, the Tangem Ring stands out as an elegant, discreet, and secure option.

How to Use Tangem Wallet

Now that you know what Tangem wallet offers in terms of features and usability, it’s time to put it to use. If you are concerned about the complexity of using a hardware wallet, don’t be— just be patient and always double-check all the data and details. So, let’s go!

Step-by-Step Guide to Setting Up Tangem Wallet

1. Get Started: Make sure you have an NFC-enabled smartphone and your Tangem card.
2. Tap to Download the App: Place your first Tangem card close to your phone’s NFC module and follow the link to download the Tangem app.
   
3. Open the App and Scan: Launch the Tangem app, tap the “Scan” button, and hold the card near your phone to scan it.
4. Create Wallet: Select “Create Wallet” in the app and scan the card once more to generate your private and public keys within the secure chip.
5. Add a Backup Card: The app will prompt you to create a backup. Tap “Add a Backup Card,” then scan your second Tangem card to link it.
   
6. Optional Third Card or Ring: If you have a third Tangem card or a Tangem Ring, scan it as well to add an additional backup.
7. Finalize Backup: Tap “Finalize” to complete the backup process, adding extra security to your wallet.
8. Set an Access Code: Choose an access code to protect your wallet from brute-force attacks. Tap “Continue” and enter a code using any word, phrase, or number.
   
9. Confirm Access Code: Enter the access code again for confirmation, then tap “Submit.”
10. Scan Cards and Ring Again: To complete the setup, scan all your cards one by one.
    

The Tangem app wallet enables you to buy, sell, swap, or transfer your crypto assets seamlessly, as well as access decentralized finance apps through WalletConnect, allowing you to access all the high-APY platforms.

Tangem Wallet Customer Reviews and Feedback

Tangem wallet has received outstanding reviews across major platforms, reflecting its popularity and reliability among users.

On the Google Play Store, Tangem boasts an impressive average rating of 5.0 from over 12,400 reviews and over 100,000 downloads, highlighting its exceptional user satisfaction. Similarly, on the iOS App Store, it holds a 4.9 rating based on 5,600 reviews, underscoring its appeal among iPhone users. On Trustpilot, Tangem maintains a strong 4.5 rating from nearly 400 reviewers, showcasing consistent approval from a broad user base.

These high ratings across platforms speak to Tangem’s commitment to providing a secure, user-friendly, and highly-rated crypto wallet solution.

How Tangem Wallet Compares to Other Hardware Wallets

When choosing a hardware wallet, it’s essential to consider factors like price, hardware design, asset support, additional features, and security. Here’s how the Tangem wallet stacks up against popular options:

• Price: Tangem offers an affordable entry point at around $50, making it one of the most budget-friendly options. By comparison, other wallets like the premium Ledger Stax go for $399, though they offer numerous additional features like wireless charging and a curved screen.
• Hardware: Tangem’s NFC-enabled card design is unique, requires no battery or physical maintenance, and pairs easily with a smartphone. In contrast, Ledger and Trezor rely on USB-connected devices with screens and buttons, which may feel more traditional but require periodic charging and updates.
• Digital Asset Support: Most wallets, including Tangem, support thousands of digital assets. When it comes to choosing a wallet, most people go by what they will use it for, rather than the number of cryptos it supports. Tangem offers support to numerous coins and tokens, access to Web3 through WalletConnect. However, NFT holders will have to manage their digital art through NFT marketplaces, as Tangem does not support them natively.
• Additional Features: Tangem distinguishes itself with the Tangem Ring, a wearable NFC option, and a multi-card backup that doesn’t require a seed phrase. The latest Ledger devices have touchscreens for NFT display, while Trezor’s lineup offers unique features for key recovery.
• Safety and Security: While all cold wallet manufacturers approach security slightly differently, the end goal is the same — security for customers. Tangem has never been hacked, which is a great testament to its security features.

Is Tangem Hardware Wallet the Best Option for You?

Tangem Wallet is a highly attractive option for those seeking a cost-effective, secure, and easy-to-use solution for crypto storage. With its unique NFC-enabled card design and sleek Tangem Ring, it stands out as one of the most stylish and portable choices on the market, perfect for users who prioritize simplicity without compromising on security.

Priced significantly lower than other high-end hardware wallets, Tangem provides excellent value, especially for users who don’t need advanced features or native NFT support. While it may lack some specialized options that other wallets offer at a much higher price, Tangem’s accessibility and straightforward design make it a strong contender for anyone looking for practical, reliable crypto storage.

FAQs

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BloFin is a transparent and secure cryptocurrency trading exchange that caters to both beginner and experienced traders. With features such as KYC-free withdrawals of up to $20,000, a 1:1 reserve policy, and advanced trading bots, BloFin is positioning itself as a top trading exchange to use in 2024. 

 This BloFin review covers everything you need to know about the platform, from security protocols to fees and additional features. 

Pros and Cons

What is BloFin?

BloFin is a digital asset investment platform that aims to offer accessible, reliable, and high-security trading options for cryptocurrency and other digital assets. 

Since its inception, BloFin has built a reputation as a trusted platform for global users. It supports secure transactions in various cryptocurrencies and focuses on regulatory compliance. BloFin serves users worldwide, though it has certain regional restrictions.

The platform offers a mix of self-custody solutions and partnerships with insured custodians to protect client assets. BloFin is committed to regulatory standards and transparency in asset management, using protocols like Proof of Reserves. Since transparency is crucial for maintaining and building trust among users, BloFin wants to ensure it caters to the best interest of its community. 

BloFin offers a range of investment solutions tailored to both individual and institutional investors. Its primary focus is on risk management, which can help mitigate potential losses and protect trading capital.

 The platform provides users with portfolio optimization tools and automated risk strategies, suitable for both newcomers to the crypto space and seasoned investors. 

With multi-layered security, staking opportunities, and low trading fees, BloFin offers crypto enthusiasts an all-in-one investment tool. Established with privacy in mind, it allows users to trade and withdraw without KYC verification up to a specific limit, making it an ideal option for those prioritizing anonymity.

Additionally, BloFin offers advanced account protections and an insured wallet option, though this coverage may vary by region and asset type.

Available Cryptocurrencies on BloFin

BloFin offers a curated selection of more than 120 popular cryptocurrencies. 

This includes some of the best cryptos to buy and sell, such as Bitcoin (BTC) and Ethereum (ETH), as well as a diverse range of altcoins and stablecoins. The platform regularly adds new tokens in response to market trends, providing users with access to up-and-coming assets in addition to established digital currencies.

The platform’s straightforward interface allows users to easily swap assets without the need for complex cross-chain transactions. For instance, BloFin facilitates one-step exchanges between compatible assets, making it a user-friendly choice for individuals seeking to build a diversified crypto portfolio without needing to manage multiple wallets or exchange intermediaries.

Other Assets Available on BloFin

Currently, BloFin primarily offers cryptocurrency futures trading services, with its focus on both spot and futures markets. Spot trading allows users to buy and hold assets directly, while futures trading provides opportunities for leveraging asset price fluctuations.

Available Trading Markets on BloFin

Alongside a strong asset variety, BloFin supports multiple trading markets to cater to different investment strategies. 

Users can trade on Spot markets for direct asset purchases and exchanges, as well as Futures markets to speculate on asset price movements with leverage. Additionally, BloFin offers margin trading, enabling users to trade with higher capital than their initial investments, which appeals to advanced traders looking to amplify gains.

Finally, Copy trading markers are also available for users looking to replicate the trades of experienced traders. BloFin’s mix of spot, futures, and leverage markets, combined with a diverse asset selection, positions it as one of the best crypto exchanges right now. 

BloFin Fees & Commissions

BloFin offers competitive fees and a transparent trading environment for both beginners and high-frequency traders, emphasizing transparent pricing without hidden charges. Here’s a closer look at the BloFin fees for with trading, deposits, and withdrawals.

Trading Fees
BloFin applies low trading fees, offering the following rates for popular asset categories:

• Stablecoins: 0.1%
• BTC and ETH: 0.1%
• Altcoins: Up to 0.2% (based on asset liquidity)

For most trades, BloFin maintains consistent pricing, and there are no extra fees for preview or confirmation stages, ensuring transparency in trade costs. Therefore, investors can easily buy Bitcoin and other assets without having to pay hidden or additional fees. 

Deposit and Withdrawal Fees
While deposits are mostly free on BloFin, withdrawals incur variable fees based on asset type:

• Bank transfers: Free for deposits
• Crypto withdrawals: These are typically fixed per crypto, e.g., 0.00001 BTC for Bitcoin withdrawals, subject to network fees.

Withdrawals for fiat options, like bank transfers, may vary but are usually competitive, with standard timelines for processing.

BloFin’s transparent fee structure, absence of hidden charges, and fair rates for both crypto and fiat transactions also match a list of the deeds termed as ‘good practices’ according to the FCA (Financial Conduct Authority). 

Is BloFin User-Friendly?

So far, our BloFin exchange review has examined the tradable assets and different types of fees and commissions. Now, we shall analyze the accessibility and user-friendliness of this trading platform. 

Here are a few key features that make BloFin a user-friendly web platform:

• Highly accessible – BloFin features an intuitive layout, allowing for seamless user navigation. Thus, users can easily switch between the different trading markets and interfaces in mere seconds. 
• Educational resources—Through the ‘BloFin Academy,’ one can increase one’s knowledge of the crypto space by learning about bull markets, leverage trading, and technical analysis. The available courses on BloFin cover various options. 
• Copy Trading – The Copy trading tool is a preferred way for beginner traders to enter the volatile crypto markets by learning from other experienced traders. 
• Trading bots – Advanced traders can access BloFin’s trading bots to automate trading strategies. This feature benefits users who value time and efficiency – as trading bots can analyze real-time market data in milliseconds. 

BloFin Desktop Experience

The desktop version of BloFin offers an enhanced trading experience. It features an optimized interface that provides a more in-depth view of market charts and trends. Users can seamlessly navigate between a variety of trading options, including automated bots and copy trading, allowing them to mimic the trades of experienced investors. 

Comprehensive tools for technical analysis, such as customizable indicators and multiple chart layouts, are available, making it easier for traders to analyze market movements and optimize their strategies more thoroughly.

BloFin Mobile App 

Mobile users can start trading digital assets on BloFin through the mobile app, which is available on Google Play and the App Store. 

The mobile app is designed for on-the-go trading with real-time notifications, asset management, and trading tools accessible from any location. 

The tradable assets on the desktop version are all available on the BloFin wallet app, which includes a list of the best altcoins in the market, such as Solana (SOL), Ripple (XRP), and Cardano (ADA). Users can also access 24/7 customer support directly through the app.

BloFin: Available Trading Tools & Resources

Our review of BloFin will now take a closer look at the several trading tools and resources designed to help traders make informed decisions:

BloFin is equipped with several advanced tools designed to help traders make informed decisions: 

Trading Bots

BloFin has introduced a trading bots feature, allowing users to automate their trading strategies for perpetual futures contracts. 

Through strategies such as the ‘Signal Bot’ – BloFin automatically executes trades based on strategies generated from TradingView signals. By handling trades based on these signals, the bot allows users to focus more on refining their total trading volume and developing their trading strategies instead of manually managing every trade.

The signal bot is freely available to all users, removing access restrictions and allowing everyone to experiment with their trading approaches without additional costs. The automation provided by this bot saves users time, eliminating the need for extensive research and in-depth analysis, as trades are executed in alignment with predefined strategies. 

Additionally, it offers users valuable market insights, assisting them in making more informed decisions and enhancing their risk management practices for better long-term trading outcomes. 

Copy Trading

A great feature for traders who lack the confidence to trade independently during the beginning of their trading journey – Copy Trading allows one to copy the exact trades of more experienced investors.

The experienced investors are known as ‘Master Traders’, a group consisting of hundreds of professional members who have demonstrated proficiency in trading and have garnered thousands of followers on the platform. 

On the BloFin website, you can access information related to each Master Trader’s history – including their overall win percentage and 90-day returns. 

Educational Resources

Through the BloFin Academy, users can access various wealth management education resources, extensive tutorials and market insights that will support them in their trading journey.

Specialized courses on topics such as bullish trends, technical analysis, and token price predictions are also offered. 

Is BloFin a Secure Exchange? 

As a leading cryptocurrency exchange, BloFin prioritizes security and implements several safeguards to ensure compliance with regulatory requirements. 

Firstly, BloFin upholds a commitment to secure customer assets by maintaining a 1:1 reserve ratio, ensuring that every user’s funds on the platform are backed in full. To promote transparency, the exchange offers users access to its proof of reserves, providing peace of mind that their assets are securely held.

In partnership with Fireblocks, a top-tier asset custodian, BloFin leverages advanced security measures and comprehensive insurance to protect user assets and funds from risks, including cyber threats and operational errors. This enhances asset safety, making BloFin a reliable choice for users concerned about the security of their holdings.

Additionally, BloFin has strengthened its compliance capabilities with a Know-Your-Transaction (KYT) system from AnChain.AI. This AI-powered system enables real-time monitoring and analysis of transactions, which enhances the platform’s ability to detect suspicious activity. Moreover, BloFin’s integration with Chainalysis adds another layer of oversight by providing blockchain data insights to help detect illicit activities, including money laundering.

A significant benefit for potential users is BloFin’s track record of security. It has maintained a clean history with no past breaches, a rare claim among exchanges.

BloFin Customer Support

BloFin offers 24/7 customer support via live chat, email, and a dedicated help center, ensuring that users have readily available assistance. The platform’s customer service has been well-reviewed for its responsiveness and expertise.

How to Start Trading with BloFin

Our BloFin review will now provide potential customers with a step-by-step guide on how to start trading with the BloFin exchange:

Step 1: Visit the BloFin website and sign up for an account.

To begin, head over to the official BloFin website. On the homepage, look for the “Sign Up” button and click on it to access the registration page.

You’ll need to fill out the required fields, including a valid email address, and create a secure password.

To increase account security, consider enabling two-factor authentication (2FA) during registration, which adds an additional layer of protection for your funds and personal information.

Step 2: Activate Your Account

After signing up, BloFin will send an email confirmation link to the email address you registered with. Check your inbox and click on the link to activate your account.

Email confirmation is essential as it verifies the ownership of your account and helps prevent unauthorized access. Once confirmed, you can log into your account with your registered credentials.

Step 3: Deposit Funds

To start trading, you’ll need to deposit funds into your BloFin wallet. Navigate to the “Wallet” or “Deposit” section, and select the cryptocurrency or fiat currency you’d like to deposit.

BloFin provides various deposit options depending on your region, such as crypto transfers from external wallets or direct bank transfers. Choose your preferred payment method, and make a deposit on BloFin. 

Step 4: Start Trading

With funds in your wallet, you’re ready to explore BloFin’s trading options. BloFin offers both spot trading, where you can buy or sell cryptocurrencies directly, and futures trading, which allows you to speculate on the future price of an asset using leverage.

For spot trading, head to the “Spot Trading” section, select your preferred trading pair (e.g., BTC/USD or ETH/USDT), and place a buy or sell order based on your trading strategy.

For futures trading, navigate to the “Futures” section. Be cautious when trading with leverage, as it can heighten both potential profits and risks. If desired, you can also use trading bots provided by BloFin to automate your trading strategy. 

Conclusion

BloFin is a secure and flexible cryptocurrency trading platform that provides the tools and security features necessary for successful trading. Through this BloFin review, we have covered the trading fees, tools, and 

With low fees, a transparent approach, and high-level security protocols, BloFin is an ideal choice for those looking to trade cryptocurrency efficiently.

Our Review Methodology

Readwrite is dedicated to supporting cryptocurrency investors in making informed and secure trading decisions. We strive to offer unbiased reviews that are catered to investors of all experience levels. 

This BloFin review was compiled using extensive research, including both direct testing of platform features and analysis of comprehensive market data sourced from customer feedback. We strive to offer accurate, honest insights to guide users in choosing the right trading platform.

FAQs

The post BloFin Crypto Exchange Review 2024: Full Features & Fees Breakdown appeared first on ReadWrite.

Hundreds of online exchanges list altcoins, meaning traders must consider their priorities when selecting a provider. The most important factors include low fees, support for a wide range of markets, and a safe trading experience.

Read on to discover the best altcoin exchange in 2024. We’ve researched the top platforms for cryptocurrency traders, covering everything from security and commissions to account minimums and leverage.

Comparing the Best Altcoin Exchanges for 2024:

Consider these platforms when choosing the best altcoin exchange:

Reviewing the Top Altcoin Exchanges

Read on for more information about the top altcoin trading platforms. Discover how each provider compares for available altcoins, fees, tools, safety, and more.

1. Margex – The Overall Best Altcoin Exchange

• Supported Altcoins: 48
• Trading Fees: 0.019% (limit orders), 0.06% (market orders)
• Fiat Payments: Yes
• Founded: 2019

Margex is the overall best option when trading altcoins. It offers perpetual futures on 48 altcoin markets, including Solana, BNB, Ethereum, Dogecoin, XRP, and Toncoin. Traders can go long or short on all available pairs, and leverage of up to 100x is available.

For example, suppose you’re long on Ethereum with a $200 stake and 100x leverage. This means you’re trading with $20,000, even though your Margex account only has $200.

Margex is also a good option for low trading commissions. It charges just 0.019% per slide on limit orders. Market orders are charged 0.06%. However, unlike other altcoin exchanges, Margex doesn’t offer discounts when trading larger volumes.

Nevertheless, Margex is also popular with traders who prefer privacy and anonymity. No KYC procedures are needed; just provide an email address when joining. Do note that Margex doesn’t offer spot trading markets, which will be a drawback for some. It does, however, offer copy trading tools. Not to mention staking pools with APYS of up to 5%.

2. MEXC – Buy and Sell Over 2,900 Altcoin Markets 

• Supported Altcoins: 2,900+
• Trading Fees: 0% (limit orders), 0.02% (market orders)
• Fiat Payments: Yes
• Founded: 2018

MEXC is the best altcoin exchange for available markets. It lists more than 2,900 altcoins, including the best meme coins. This covers everything from Dogecoin and Samoyedcoin to Dogelon Mars, Tamadoge, and Pepe. Other popular markets include Solana, Toncoin, Ethereum, XRP, and TRON.

MEXC charges low trading fees, with market takers paying just 0.02% per slide. Market makers pay no commissions at all. In addition to thousands of spot trading markets, MEXC offers hundreds of perpetual futures. These come with leverage of up to 200x. Futures can be settled in USDT or the underlying altcoin. MEXC is another good option for anonymous trading, with only an email address or mobile needed when joining.

MEXC users can deposit funds in multiple currencies, including GBP, USD, and EUR. Debit/credit cards and other popular payment methods are accepted. Deposit fees are built into the quoted exchange rate, which lacks transparency. That said, our research shows this averages 3-5%. MEXC can be accessed on desktop browsers or an Android/iOS app.

3. Coinbase – One of the Best Altcoin Exchanges for Beginners

• Supported Altcoins: 257
• Trading Fees: 1.49% (standard conversion fees)
• Fiat Payments: Yes
• Founded: 2012

Coinbase is a tier-one altcoin exchange with a strong licensing framework. Launched in 2012, it has regulatory approval in multiple countries, including the US, Singapore, Australia, and the UK. Our research shows that Coinbase is a good option for beginners.

It enables users to buy altcoins instantly with a debit/credit card. PayPal is supported too. The investment process is simple; just choose which altcoin to buy, type in the amount, and enter the payment details. Coinbase supports 257 altcoins, covering popular markets like Ethereum, Dogecoin, Shiba Inu, XRP, Cardano, and Solana. It also offers perpetual futures trading but only in selected countries.

Coinbase offers multiple options when storing altcoin investments. This includes a centralized web wallet with two-factor authentication. 98% of client-owned cryptocurrencies are held in cold storage when selecting this option. Alternatively, it also offers a decentralized wallet app. Available on Android and iOS, only the user controls their private keys.

4. Binance – A Great Option for Advanced Altcoin Traders Seeking Charting Tools

• Supported Altcoins: 426
• Trading Fees: 0.1%
• Fiat Payments: Yes
• Founded: 2017

Founded in 2017, Binance is the largest altcoin exchange with over 237 million registered users. It’s one of the best options for advanced traders seeking charting tools. It offers in-depth order books for buy and sell positions and custom charting screens ranging from 1 second to 1 month. Drawing tools and technical indicators are also available. TradingView integration is supported for even more charting features.

Binance can be accessed via desktop software, with Windows, Mac, and Linux supported. A mobile app for Android and iOS is also available. Alternatively, some traders opt for the desktop browser. Either way, Binance lists 426 altcoins, with new additions added regularly.

It charges competitive trading commissions, starting at 0.1% per slide for makers and takers. Commissions are reduced when trading higher amounts, or holding Binance’s native altcoin, BNB. Binance also offers derivative products, including options, delivery futures, and perpetual futures. It also supports earning tools with high APYs.

5. Exodus – Swap Over 100,000 Altcoins via a Non-Custodial Wallet

• Supported Altcoins: 100,000+
• Trading Fees: Built into the quoted exchange rate
• Fiat Payments: Yes
• Founded: 2015

Exodus is an established wallet provider that offers non-custodial storage. The wallet’s private keys are encrypted on the user’s device. Nobody can access them but the user. Exodus also provides an in-built exchange, allowing users to swap over 100,000 altcoins. It connects to decentralized liquidity pools, so swaps are executed at the best market price. However, traders must assess fees manually, as they’re built into the quoted rate.

Although Exodus only enables crypto-to-crypto swaps, users can buy altcoins with a debit/credit card. The purchased altcoins can then be traded 24/7. Crucially, Exodus doesn’t have an account opening process, so KYC isn’t needed when swapping cryptocurrencies.

Exodus is available on most device types, including desktops, mobiles, and browsers. Supported operating systems include Android, iOS, Windows, Mac, and Linux. Exodus also offers staking rewards on select altcoins, including Aptos, Solana, Cardano, Tezos, Ontology, and Kava. The main drawback is Exodus’ lack of analysis tools, such as indicators and order books.

6. OKX – Low-Fee Trading for Spot Markets and Derivatives

• Supported Altcoins: 295
• Trading Fees: 0.08% (limit orders), 0.1% (market orders)
• Fiat Payments: Yes
• Founded: 2017

OKX offers a safe trading environment for millions of cryptocurrency traders. Launched in 2017, it lists 295 markets, including the best altcoins. This covers everything from BNB, Ethereum, and XRP to Shiba Inu, Polkadot, and Uniswap. OKX supports fiat purchases from just $5, making it a good choice for newbies.

Standard trading commissions are just 0.08% for market makers and 0.1% for market takers. Like many altcoin trading exchanges, discounts are available for larger volumes. Traders also get reduced commissions when holding OKX’s native altcoin, OKB.

In addition to spot trading, OKX also offers derivative products. This includes perpetual futures settled in USDT, USDC, or the underlying altcoin. Delivery futures are also available, alongside cryptocurrency options. OKX offers leverage of up to 100x when trading derivatives. However, limits are lower when trading smaller-cap altcoins. OKX also offers earning tools, including on-chain Ethereum staking.

7. BloFin – Diverse Altcoin Exchange With Spot Trading, Futures, and Automation Tools

• Supported Altcoins: 300+
• Trading Fees: 0.1%
• Fiat Payments: Yes
• Founded: 2019

BloFin is a popular cryptocurrency exchange that was founded in 2019. It offers a diverse range of investment products, ensuring traders of all skill sets are catered for. This includes a spot trading exchange with over 300 altcoin markets. Trading commissions are just 0.1% per slide for both market makers and takers.

Lower commissions are offered when hitting 30-day trading milestones. BloFin is also a good option for trading perpetual futures. Popular markets include Ethereum, Render, Dogecoin, and Solana. BloFin offers leverage of up to 150x when trading futures, depending on the altcoin. Futures commissions are also competitive, with market takers paying 0.06%. Market makers get a lower commission of 0.02%.

BloFin is also popular for its automation tools. This includes copy trading and cryptocurrency bots. The latter currently only includes signal bots, but other strategies will be added soon. BloFin is a no-KYC exchange, so new users can register with an email address or mobile number.

8. Kraken – One of the Original Altcoin Exchanges With Industry-Leading Security

• Supported Altcoins: 200+
• Trading Fees: 0.25% (limit orders), 0.4% (market orders)
• Fiat Payments: Yes
• Founded: 2011

Kraken was founded in 2011, making it one of the original altcoin exchanges. It boasts industry-leading security protocols, ensuring client-owned altcoins are kept safe. This includes advanced cold storage wallets with 24/7 armed surveillance and verifiable proof of reserves. It also has multi-factor authentication when logging in and requesting withdrawals.

Kraken lists over 200 altcoins, which is a great starting point for beginners. Cryptocurrencies can be purchased with fiat money; supported payment methods include local bank transfers and debit/credit cards. Fees are built into the quoted exchange range when buying altcoins instantly. The cheaper option is to use Kraken Pro.

This is Kraken’s advanced trading suite aimed at experienced investors. The entry-level commission on Kraken Pro is 0.4% for market takers. This is reduced to 0.25% for market makers. Further discounts are available when trading higher amounts. Kraken also offers one of the top altcoin trading apps for Android and iOS. These come with full functionality. Kraken also stands out from other exchanges in many ways, which can be seen in our Kraken vs. Coinbase review. 

What is an Altcoin Exchange? The Basics

Altcoin exchanges enable traders to buy and sell popular altcoins, such as Ethereum, XRP, Litecoin, and Solana. Exchanges make money from trading commissions, which are typically charged against the total position size, per slide.

For example, suppose you buy $1,000 worth of altcoins at a 0.1% commission. You’d pay just $1 to enter the market. You’d pay 0.1% again when closing the trade. Some crypto exchanges enable users to buy altcoins with fiat money, such as USD, EUR, and GBP.

Payment methods often include debit/credit cards and local bank transfers. Altcoin markets will vary depending on the exchange. Some offer spot trading markets, with trades executed ‘on the spot’. Others specialize in derivative products like perpetual futures.

These products offer more flexibility, such as short-selling and leverage. Nonetheless, most altcoin exchanges are centralized, which invites counterparty risks. This is why seasoned traders only keep small amounts on exchanges, with the majority of funds withdrawn to a private wallet.

Key Criteria When Selecting The Best Altcoin Exchange

Over 700 altcoin exchanges are listed on CoinMarketCap, meaning a significant number of providers to choose from. The best practice for traders is to assess key priorities, such as fees, supported markets, and payment methods.

Read on for the most important considerations when selecting an exchange.

Available Altcoin Markets

Some traders prefer cryptocurrency exchanges with a substantial number of altcoins, ensuring market opportunities can be capitalized on with ease. Otherwise, you’d need accounts with multiple exchanges. You’d also need capital available on each platform.

Our research shows that the best altcoin exchange for available markets is MEXC. It currently lists over 2,900 altcoins, with new markets being added almost daily. It’s particularly popular for trading new cryptocurrencies, including those that have recently completed their ICO/presale campaigns.

Low Trading Commissions

Trading commissions must be paid when trading altcoins. This is charged as a percentage against the total trade size. The only exception is MEXC, which offers commission-free trading when placing limit orders. Those preferring the simplicity of market orders might like Margex.

It charges 0.06% per slide, meaning commissions of just $0.60 for every $1,000 traded. Do note that some altcoin exchanges charge fees based on the monthly trading volume. This means lower commissions when trading higher amounts.

Available Altcoin Liquidity

Liquidity is another important factor when choosing the best exchange for altcoins. In a nutshell, liquidity is the amount of funds available when trading specific markets. High liquidity ensures traders can enter and exit positions seamlessly, without needing to accept sub-par prices.

In contrast, low liquidity increases the trading cost, as less favorable prices must be accepted to push orders through. Tier-one exchanges with the most active traders provide the highest liquidity. This includes Binance, OKX, Kraken, and Coinbase.

Available Payment Methods and Fees

First-time traders will need to choose an altcoin exchange that accepts their preferred currency and payment method. Fees should also be reviewed, as fiat deposits can be costly. For example, those wishing to buy altcoins instantly will prefer a debit/credit card payment.

Margex and MEXC are good options here, with both Visa and MasterCard supported. However, the average fee will be 3-5%, depending on the fiat partner.

The cheaper option is to deposit funds via a local bank transfer. Popular networks include ACH (US) and SEPA (EU). These banking methods are often processed free of charge. Coinbase and Kraken are the best options for bank transfers, as payments are usually instant.

Safety and Security

While fees, available markets, and liquidity are key factors, these shouldn’t be at the expense of safety. Altcoin traders preferring a regulated environment will like Coinbase, considering it’s licensed in the US, Singapore, Australia, Europe, and other locations.

However, Coinbase has strict KYC procedures, which won’t appeal to everyone. Alternatively, no-KYC exchanges like Margex also offer a safe experience but without a regulatory framework. Security measures include proof of reserves, cold storage wallets, and two-factor authentication.

Fees to Consider When Using an Altcoin Exchange

Let’s take a closer look at the different fee types when using altcoin exchanges.

Deposits

Depending on the altcoin exchange, you can often deposit fiat money directly into the account. The funds can then be used to buy altcoins manually. For example, Coinbase offers free deposits on local bank transfers, including USD, EUR, and GBP. This is also the case with Kraken.

It’s also possible to directly deposit altcoins. You won’t be charged by the exchange, but network fees apply when executing the transfer. The deposited altcoins can then be used to trade.

Instant Purchases

Instant purchases are slightly different from traditional deposits. You’ll be using a debit/credit card or e-wallet to buy altcoins immediately. The transaction is settled in real-time and the cryptocurrencies are instantly added to your exchange wallet.

This option is ideal for first-time investors with limited trading experience. However, instant purchases are also the most expensive. As mentioned, expect to pay around 3-5% of the transaction size.

Trading Commissions

Trading commissions are charged when buying and selling altcoins. They’re almost always charged as a percentage. Meaning, the more traded the higher the commission. What’s more, commissions are charged ‘per slide’. This means traders pay commissions when entering and exiting the market.

Here’s an example:

• Let’s say your chosen altcoin trading platform charges 0.2% per slide
• You buy $4,000 worth of Ethereum, so pay a commission of $8 (0.2% x $4,000)
• Ethereum has increased by 50%, so your position is now worth $6,000
• You cash out, again paying a 0.2% commission. This amounts to $12 (0.2% x $6,000)

However, do note that commissions can vary depending on whether you’re a market maker or taker:

• Market makers place limit orders. They provide liquidity to altcoin exchanges so generally get lower commissions.
• Market takers place market orders. They use liquidity that’s already been provided, so generally pay higher commissions.

Other factors can also impact trading commissions. For example, exchanges like MEXC and OKX offer discounts when holding their respective tokens. Additionally, discounts are often available when meeting 30-day volume targets.

Altcoin Conversions (Swaps)

Most altcoin exchanges charge fees when converting (swapping) cryptocurrencies. This enables users to exchange one altcoin for another without using the spot trading exchange. For example, swapping Litecoin for Dogecoin or Ethereum for Uniswap.

Conversion fees are often built into the exchange rate. This means manual calculations are a must. Otherwise, you won’t know whether you’re getting a good rate. That said, Margex offers free conversions on nine popular altcoins, swapped at the real-time spot price.

Withdrawals

Even the best altcoin exchanges charge withdrawal fees. Cryptocurrency withdrawals often come with a fixed fee, which can include a markup. For example, suppose the Solana network fee is 1 SOL, but your chosen exchange charges 3 SOL. This means you’re paying a 2 SOL premium.

Fiat withdrawals often attract fees too, although local bank transfers can be free. It’s important to assess these fees from the get-go.

Conclusion

We’ve ranked the best altcoin exchanges for the most important factors, including fees, safety, and available markets. Margex is our top pick; it offers super-low commissions and leverage of up to 100x.

It also offers a KYC-free experience, advanced security protocols, and instant altcoin purchases with Visa and MasterCard. There’s also a copy trading feature aimed at beginners, meaning altcoins can be traded passively.

FAQs

The post 12 Best Altcoin Exchanges With The Most Coins in 2024 appeared first on ReadWrite.

FreeDum Fighters ($DUM) is a new meme coin offering a satirical take on the 2024 US presidential election. In place of Trump vs. Harris, token holders can vote on two mechanized candidates: MAGATron and Kamacop 9000.

The project offers generous token rewards and big returns for presale investors—but can it be the next meme coin to explode? Keep reading our FreeDum Fighters price prediction to find out how high the $DUM token could go.

FreeDum Fighters Token ($DUM) Price History

FreeDum Fighters is a new meme coin currently available only through a presale. The $DUM token isn’t expected to list on crypto exchanges until the end of the presale, sometime after the November 5 election.

The presale consists of 4 stages, with the following price at each stage:

• Stage 1: $0.00005
• Stage 2: $0.000075
• Stage 3: $0.00010
• Stage 4: $0.000125

That’s a 150% price increase from the first stage to the last, meaning early investors can lock in significant unrealized gains. The presale has a hard cap of $9.72 million.

During the presale, investors can swap ETH, USDT, USDC, BNB, SOL, or BASE for $DUM tokens. Check out our guide to how to buy FreeDum Fighters for a step-by-step walkthrough.

FreeDum Fighters Token ($DUM) Price Prediction 2024

FreeDum Fighters is expected to move through its presale quickly and launch its $DUM token shortly after the November 5 presidential election. While that doesn’t leave much time for trading $DUM in 2024, the token’s price action could be very volatile in November and December.

We expect $DUM to get a big boost in price regardless of whether Trump or Harris wins, but the token’s rise could be bigger if Trump wins. That’s because the crypto community is largely in favor of Trump, and he is expected to loosen rules around cryptocurrency more than Harris.

We also think a contested election outcome—which many political analysts and the stock market think is likely—could be positive for $DUM. The longer the election remains in the spotlight, the more likely crypto investors are to stay engaged with FreeDum Fighters. It’s even possible the project could adapt its storyline and token rewards to align with events in the post-election competition for the presidency.

The biggest unknown in our analysis is how $DUM will reserve tokens for distribution after its presale ends. If the project announces an airdrop or uses more of its tokens to amplify staking rewards, we expect demand for $DUM after its listing to shoot up. On the other hand, if the project’s rewards decline after the election, excitement around $DUM might be more muted.

With all of this in mind, we’re very bullish on FreeDum Fighters. We predict the $DUM token can jump to $0.00105 by the end of the year, with a potential high of $0.00168 in the most explosive scenario. This high estimate reflects a 33x gain from the current presale price.

FreeDum Fighters Token ($DUM) Price Prediction 2025

We think FreeDum Fighters’ momentum could continue into 2025. The inauguration of the new president in January could provide a temporary bump, but the real growth in $DUM price will be driven by underlying trends in the crypto market.

Analysts widely expect that Bitcoin will climb to $200,000 in 2025, kicking off a new crypto bull market. While the breadth of this predicted bull run remains to be seen, it’s likely to throw weight behind $DUM and many other top meme coins. Investors who missed $DUM’s run in the aftermath of the election could pile in, hoping for a second chance, putting upward pressure on the coin’s price.

More lenient regulation of the cryptocurrency industry—and possibly the removal of Gary Gensler as SEC chair—could also pave the way for a more favorable environment for meme coins. With less fear of lawsuits, it’s possible that Binance, Coinbase, and other major US crypto exchanges could list $DUM and other meme coins. This would make $DUM available to a much wider audience of traders and investors, helping to further push up its price.

There is a risk that $DUM could lose engagement since its focus is on the 2024 election, which will be long past by late 2025. However, the FreeDum Fighters roadmap makes clear that the project plans to develop new storylines for post-2024 development. So, we think that the project will remain relevant and viral throughout the year.

With that in mind, we predict an average $DUM price of $0.00162 by the end of 2025, with a potential high of $0.00203. That high represents a 40x gain from the token’s initial presale price.

FreeDum Fighters Token ($DUM) Price Prediction 2030 – Long-Term Outlook

Our long-term outlook for FreeDum Fighters is slightly more bearish than ours through the end of 2025. The reason for this is that the 2024 election will likely be far from most crypto investors’ minds in 2026 and 2027. $DUM could get a boost in 2028 when a new election rolls around, but by 2029, both Trump and Harris could be completely gone from the US political scene.

While it’s possible that FreeDum Fighters can adapt to these changes, that’s a relatively tall order. We expect the project to develop new storylines and offer voting in 2028, but the election is unlikely to hold the same stakes or excitement as the 2024 election.

In addition, it appears likely that FreeDum Fighters will exhaust its supply of tokens for staking rewards by 2026-2027. The end of staking rewards eliminates a major incentive $DUM token holders have to hold onto their coins, which could lead to a large sell-off. $DUM may be able to issue a new token to keep users engaged, but this is impossible to know several years in advance.

Because of these changes, we predict the $DUM token’s price will fall to around $0.000954 by the end of 2030. This is still significantly above the expected launch price, so investors who buy today don’t have to worry too much about selling when $DUM is at its peak.

Likely Highs & Lows of FreeDum Fighters Token ($DUM)

FreeDum Fighters is a volatile meme coin that could experience significant swings in price, especially in late 2024 and early 2025. To ensure investors know what to expect, we’ve forecasted potential highs and lows of the $DUM token.

What Is FreeDum Fighters Token ($DUM)?

FreeDum Fighters is a new type of meme coin known as a PolitiFi token. It satirizes the US political scene, poking fun at the 2024 presidential election. The coin is designed to help anxious voters engage with the election in a fun, low-stakes way while earning token rewards.

Presale investors can stake their $DUM tokens by voting for either MAGATron, the Trump-inspired mock candidate, or Kamacop 9000, the Harris-inspired candidate. Each candidate has their own staking pool with different reward rates, which adjust automatically to encourage investors to vote for the underdog candidate and keep the race close, just like the real presidential race.

Participants can also earn token rewards by participating in weekly debates. Whichever candidate wins the debate, their side will receive an airdrop of $DUM tokens.

FreeDum Fighters has set aside 40% of its 270 billion token supply for the presale and another 20% for staking. The remaining supply is divided between exchange liquidity (20%), debate rewards (10%), and a general-use token pool (10%).

Check out our how-to-buy FreeDum Fighters guide for a step-by-step walkthrough on how to join the presale.

What Factors Influence the Price of FreeDum Fighters Token ($DUM)?

The FreeDum Fighters token could see volatile price swings after it launches due to several factors. Here are some of the most important things to watch.

• Presale Success: The amount of money FreeDum Fighters raises during its presale is a great indicator of how the token will perform after launch. If it gets close to—or even sells out—the project’s $9.72 million hard cap, look for the price of $DUM to rocket higher after launch as demand outstrips the available token supply.
• US Election Outcome: The outcome of the US election on November 5 is likely to have a big impact on $DUM. We expect a bigger upward price movement if Trump wins since the $DUM community has clearly lined up behind the mock MAGATron candidate.
• Exchange Listings: It’s unclear which exchanges $DUM will list on at launch. Listing on more prominent exchanges could help the token pump by making it accessible to more crypto traders. If $DUM is the next Binance listing, the token’s pump could even exceed our predicted highs in 2024 and 2025.
• Staking Rates: The rates that the MAGATron and Kamacop 9000 staking pools offer will change over time. Higher rates are likely to drive more demand for $DUM and encourage existing investors to hold onto their tokens rather than sell. As staking rates fall, selling activity could increase, causing the price of $DUM to fall as well.

Conclusion

According to our FreeDum Fighters price prediction, this hot PolitiFi meme coin could jump 33x or more by the end of the year as excitement around the US election reaches a fever pitch. $DUM’s winning streak could continue into 2025 as the new president takes office, with the token hitting a potential high of $0.00203.

Investors can join the FreeDum Fighters token presale now to lock in the lowest price for $DUM and start earning rewards. The presale accepts ETH, USDT, USDC, BNB, SOL, and BASE.

FAQs

The post FreeDum Fighters Token ($DUM) Price Prediction 2024 – 2030 appeared first on ReadWrite.

FreeDum Fighters is the latest meme coin taking the crypto market by storm. It makes light of the US presidential race while giving token holders a chance to vote for their favorite candidates, engage in mock political debates, and earn rewards.

FreeDum Fighters is holding a presale of its new $DUM token right now, and anyone can join. We’ll explain how to buy FreeDum Fighters tokens and take a closer look at why this is one of the best tokens to buy today.

How to Invest in FreeDum Fighters Token – Beginner’s Guide

Investing in the best crypto presales can seem complicated, but it’s actually very easy. We’ll walk through how to buy FreeDum Fighters tokens in 5 simple steps.

Step 1: Download Best Wallet

You’ll need a crypto wallet that supports Ethereum-based ERC-20 tokens in order to buy $DUM during the FreeDum Fighters presale. We recommend using Best Wallet, because it’s highly secure and very user-friendly. It’s also completely free.

Visit Best Wallet’s website and download the wallet for your device. Open the app and create a strong password. Make sure to write your wallet’s seed phrase down on paper and store it somewhere secure. Never store a copy of your seed phrase online or in a cloud storage account.

Step 2: Buy Crypto

In order to buy $DUM tokens during the presale, you’ll need to already own tokens that the presale site accepts for payment. These include $ETH, $BNB, $USDT, $USDC, $BASE, and $SOL.

You can easily buy these through Best Wallet using a credit or debit card. Just search for the coin’s ticker, select the ‘buy’ option, and choose ‘credit card’ or ‘debit card’ as your payment method. Your purchased tokens will be available in your wallet immediately.

Step 3: Connect to the FreeDum Fighters Presale Site

Visit the FreeDum Fighters presale site and click ‘Connect Wallet.’ Select Best Wallet from the pop-up and follow the prompts to connect your wallet. Open the Best Wallet app on your smartphone and authorize the connection.

Step 4: Select Investment Amount

Choose which cryptocurrency you want to swap for $DUM tokens—this should be the same crypto that you purchased in Step 2. Then decide how much you want to swap. The FreeDum Fighters presale dashboard will automatically calculate the corresponding amount of $DUM tokens you’ll receive.

Keep in mind that crypto presales are high-risk, high-reward investments. Only invest money that you’re willing to lose in the FreeDum Fighter presale. It’s also a good idea to invest in other cryptocurrencies and other assets to diversify your portfolio.

Step 5: Vote and Purchase $DUM

Before you complete your purchase, you must vote for either MAGATron or Kamacop 9000 in order to stake your $DUM tokens and start earning rewards. You can see the current staking rates for each candidate on the FreeDum Fighters website.

Once you cast your vote, click ‘Buy $DUM’ to complete your purchase. Purchased tokens will be available to claim and add to your wallet at the end of the presale.

Reasons Why FreeDum Fighters Is a Strong Buy

Here are some of the key reasons why we consider FreeDum Fighters to be among the best meme coins to buy today:

• PolitiFi Theme: FreeDum Fighters isn’t just a meme coin—it’s a PolitiFi token with a focus on the upcoming US election. Other tokens in this category include $TREMP, $BODEN, $BOBBY, and others, all of which have been massively successful. Crypto election prediction markets have also raked in billions in wagers, showing how much interest there is in US politics in the crypto market right now.
• Potential Presale Upside: $DUM is priced at $0.00005 during the first stage of the presale and is expected to climb to $0.000125 by the fourth and final stage. That means early investors can expect to see 150% unrealized gains before $DUM hits exchanges.
• Staking and Debate Rewards: $DUM investors can earn staking rewards by voting for their preferred candidate. They can also earn airdropped $DUM for winning weekly debates, increasing their holdings ahead of the coin’s launch.
• Explosive Exchange Listings: FreeDum Fighters is expected to list shortly after the November 5 election, and the timing of this launch could help the token explode higher in price. We may not know the outcome of the election, which would encourage the crypto community to stay engaged through tokens like $DUM.

The Verdict

FreeDum Fighters is an exciting new PolitiFi token that gives investors a chance to vote on a mock US presidential election and earn rewards through staking and debates. Its $DUM token offers the potential for big gains, with a 150% price increase over the course of the presale and potentially even more after launch.

Right now, investors can join the FreeDum Fighters token presale with ETH, BNB, USDT, USDC, BASE, or SOL. Don’t miss this chance to lock in $DUM at the lowest price and start earning rewards.

FAQs

The post How to Buy FreeDum Fighters Token ($DUM) – Detailed Guide appeared first on ReadWrite.

There’s a lot to consider when selecting a platform, such as lock-up terms, interest rates, supported coins, and safety.

Read on to discover the best crypto staking platforms; we rank and review the leading providers for 2024.

Reviewing the Top Crypto Staking Platforms

Let’s take a closer look at the top crypto staking platforms. The following reviews cover everything investors need to know. Read on to choose the right staking provider.

1. Margex – Use Staking Balances as Collateral When Trading Perpetual Futures

• Coins available for staking: 5
• Ethereum staking? Yes
• Staking custodianship: Custodial
• Highest staking rate: 5% on Ethereum, USD Coin, Tether, and Binance USD

Margex is an unconventional staking platform, considering it specializes in perpetual futures. Nonetheless, it offers competitive staking rewards on five cryptocurrencies. Those staking Ethereum, USD Coin, Tether, or Binance USD will earn interest rates of 5%. This is reduced to 4% when staking Bitcoin. Crucially, staking balances can be used as collateral.

For example, suppose you’re staking $1,000 worth of Bitcoin. Margex offers 100x leverage on Bitcoin futures, converting to a 1% margin requirement. This means the $1,000 being staked can open a futures position worth up to $100,000. Even so, the staking coins will continue to earn interest, even when utilized as collateral.

Margex also offers a user-friendly staking calculator. Just select the coin and amount to see the estimated rewards. We also like that staking payouts are made daily, so you can fast-track the earning potential via compound interest. Other popular features on Margex include a free demo platform, copy trading, and a user-friendly app for iOS and Android.

2. MEXC – Flexible and Fixed Staking Plans With APYs of up to 25%

• Coins available for staking: 18
• Ethereum staking? Yes
• Staking custodianship: Custodial
• Highest staking rate: 25% on Core DAO

MEXC is not only one of the best no KYC exchanges but it’s also a great option for staking. It supports 18 staking cryptocurrencies; many offer competitive APYs. For example, MEXC pays 4.8% and 6% on Ethereum and XRP, respectively. Stablecoins like Tether and USD Coin both pay 5%. The best crypto staking rewards are available on Core DAO, which yields 25%.

However, Bitcoin comes with an APY of just 1.8%. Most staking plans are flexible, meaning the coins can be withdrawn at a moment’s notice. Others come with stricter terms, which also impacts the APY. For example, Toncoin offers an APY of 5% on a 30-day period. This increases to 7.5% when holding for 60 days, and 10% for 120 days.

MEXC is also a top option if you’re planning to buy and sell cryptocurrencies. It supports over 2,800 markets, including the best meme coins like Dogecoin and dogwifhat. It also offers 200x leverage when trading perpetual futures. MEXC is also a great option for trading passively. Simply choose a trader and automatically mirror their positions.

3. OKX – Decentralized Wallet With Thousands of Aggregated Staking Pools

• Coins available for staking: 535
• Ethereum staking? Yes
• Staking custodianship: Non-custodial
• Highest staking rate: 35.06% on Aero

OKX is a popular crypto exchange that also offers a decentralized wallet. The latter has an in-built staking aggregator that connects with thousands of external pools. Simply choose the staking coin and OKX obtains the best rates. You can also select specific liquidity providers, or use a combination for increased efficiency.

OKX is particularly attractive for staking stablecoins. It offers APYs of up to 14.45% and 10% on USD Coin and Tether, respectively. You can also get 10.9% when staking DAI. Other popular options include Ethereum, Solana, and Wrapped Bitcoin. These currently yield 8.25%, 8.25%, and 9.12%, respectively. Unlike many staking platforms, OKX’s decentralized wallet is 100% non-custodial.

This means only the user controls their private keys. And that counterparty risks are avoided. Moreover, OKX’s wallet comes with proprietary software. It supports iOS/Android mobiles, Windows/Mac desktops, and Chrome browsers. Alternatively, you can connect another wallet to OKX while remaining on-chain. OKX also supports crypto swaps and an NFT marketplace.

4. Bybit – A Great Option for Ethereum Liquid Staking With Zero Gas Fees

• Coins available for staking: 171
• Ethereum staking? Yes
• Staking custodianship: Custodial
• Highest staking rate: Multiple coins offer three-figure APYs

Bybit is also one of the best crypto staking platforms. It currently supports 171 coins and tokens, making it a great choice for diversified portfolios. It’s also a solid choice for staking Ethereum. While the APY is currently just 2.82%, Bybit offers ‘liquid’ staking rewards. This means the staked coins can instantly be put to good use, potentially increasing the yield.

Here’s how it works; you receive 1 stETH for every 1 ETH staked. That stETH can be used on other Bybit products, such as spot trading or perpetual futures. The ETH is returned to the Bybit wallet once the stETH is repaid. Although Bybit offers custodial staking, everything is on-chain. This means the staking rewards are determined by the Ethereum blockchain.

Moreover, no Ethereum gas fees are charged when staking and unstaking. Those seeking higher staking returns might consider a short-term stablecoin plan. For example, Tether yields up to 300% on a three-day term. Bybit has partnered with fiat on-ramp providers, so you can also buy staking coins directly. Accepted payment methods include debit/credit cards and bank transfers.

5. Binance – Competitive Crypto Staking Pools With Principal Protection

• Coins available for staking: 17
• Ethereum staking? Yes
• Staking custodianship: Custodial
• Highest staking rate: 19.9% on MANTRA

The world’s biggest exchange, Binance, is also worth considering when exploring staking sites. It offers ‘principal protection’ on multiple cryptocurrencies, giving investors peace of mind. This means Binance will honor the original investment, plus the stated returns, irrespective of broader market conditions. Binance has significant proof of reserves, so should have no issue meeting these promises.

17 staking cryptocurrencies are supported; terms and APYs vary depending on the pool. For example, Binance pays 3.13% and 4.98% on Ethereum and Solana staking on fixed terms, respectively. It also offers 4.98% on BNSOL. This is a liquid staking coin developed for Solana. However, we found that stablecoin yields are less competitive than other staking platforms.

For example, Tether and USD Coin yield just 3.43% and 3.91%, respectively. Nonetheless, the highest crypto staking rewards are offered on MANTRA, currently at 19.9%. Binance also runs promotional rates on newly listed markets. For instance, it’s offering an APY of 18.9% on Self Chain for a limited time. In addition to staking, Binance offers spot, futures, and options trading across hundreds of pairs.

6. BingX – Stake 52 Popular Coins With Short and Medium-Term Plans Available

• Coins available for staking: 52
• Ethereum staking? Yes
• Staking custodianship: Custodial
• Highest staking rate: 21.03% on Tether

BingX is a popular crypto exchange supporting spot trading and leveraged futures. It also offers staking pools for 52 cryptocurrencies. Some pools support multiple plans, ranging from a day to several months. For example, BingX offers APYs of 21.03% on Tether on 1-7 day plans. However, this is reduced to 6.01% when holding for 90 days.

Bitcoin comes with an attractive APY of 5% on flexible terms, meaning withdrawals are allowed at any time. BingX is also a great option for staking meme coins. For example, Dogecoin, BOOK OF MEME, Pepe, and dogwifhat each yield 10% on flexible plans.

Another way to earn passive income on BingX is via copy trading. Verified traders can be filtered by past performance, cumulative earnings, number of copiers, and other important metrics.

BingX will also appeal to investors who prioritize privacy. It offers a KYC-free experience; only an email address or mobile number is collected. BingX is offering a generous welcome package to new customers. This is worth up to 6,000 USDT depending on the deposit size.

How To Choose a Crypto Staking Site

Many providers offer staking rewards, but picking the right option can be challenging. This section discusses the key criteria when choosing the best crypto staking platform.

Safety and Security

The most important factor is that you’re using a safe staking platform. Additionally, it’s wise to explore internal security tools. At a minimum, the majority of client-owned cryptocurrencies should be stored in cold wallets, preferably with multi-signature technology and 24/7 surveillance. Two-factor authentication and device whitelisting are also notable. These security features protect staking accounts from unauthorized access.

Available Coins

The best crypto staking platforms support a wide range of coins. This often includes Ethereum, Solana, and BNB. Some platforms also offer passive rewards on non-staking coins, such as Bitcoin and XRP.

The rewards are often generated through loans or by providing exchange liquidity. Either way, ensure your preferred coins are available before proceeding.

Interest Rates

It makes sense to focus on staking platforms offering the best interest rates. Just remember that APYs are often variable. For instance, they’ll likely be reduced during more volatile market conditions. Additionally, rates can be determined by the selected term.

For example, BingX offers 21.03% when staking Tether for up to a week. However, you’ll get just 6.01% on a 90-day term. The same concept can also happen in reverse. For instance, you might get higher staking rates on longer terms.

Payout Frequency

The payout frequency is another important factor to assess. This determines how often the staking rewards are distributed. Ideally, you’ll receive daily payouts. This will enable you to immediately reinvest the rewards into other staking pools.

In doing so, you’ll benefit from compound interest. That said, don’t forget that the original investment (principal) won’t be returned until the staking term is over.

Custodianship

Most staking platforms offer a custodial service. This means you don’t own the private keys to the provided wallet. This invites counterparty risk, considering you need to trust the platform will honor staking payouts and withdrawals.

Those preferring a non-custodial service might like OKX. It offers a self-custody wallet that doubles up as a staking platform. The OKX wallet never touches client-owned funds and the user controls their private keys. However, this isn’t the case with OKX’s main exchange, so ensure you’re using the right platform.

Liquid Staking

Traditional staking can result in opportunity costs. This is because the staked cryptocurrencies can’t be used for other investment prospects. However, some platforms offer liquid staking. This means you’re lent another coin until you unstake.

For example, those staking Ethereum on Bybit receive an equivalent number of stETH coins. stETH can be used for other Bybit products, such as trading. Similarly, Margex clients can use staked cryptocurrencies as collateral. This offers trading capital of up to $100 for every $1 staked.

Limits

Some staking platforms have limits on the best-paying products. The APY is automatically reduced once these limits are reached.

For example, BingX offers 5% interest when staking Ethereum on flexible terms. However, anything over 1 ETH receives just 1.3%.

How Does Crypto Staking Work?

Staking is a passive income tool, enabling investors to earn yields on crypto holdings. Traditional staking is available for cryptocurrencies on the proof-of-stake (PoS) mechanism. This includes Ethereum, Solana, and Cardano, among others. The staked coins are locked in the respective blockchain for a minimum number of days.

This keeps the blockchain secure and ensures participants are rewarded. Participants receive their staking coins, plus interest, once the term has finished. This is similar to holding bonds, where the principal is paid on maturity. However, traditional staking often comes with high minimum requirements. For example, solo Ethereum staking requires at least 32 ETH, currently worth about $80,000.

This is why many investors use third-party platforms like Margex, and MEXC. Minimums are often just a few dollars, so investors of all budgets are welcome. This is because staked coins are grouped and rewards are distributed proportionally. Do note that staking yields are in addition to price appreciation. Meaning – you still benefit if the staking coins increase in value.

How to Choose Which Cryptos to Stake

Staking tools not only support proprietary coins but secondary tokens too. Some investors will buy cryptocurrencies specifically for staking rewards, so it’s wise to know what factors to consider.

This section explains how to choose cryptocurrencies to stake.

Available APYs

Some staking cryptocurrencies attract higher APYs than others. This is often down to the project’s reputation and market capitalization. For example, established coins like Ethereum and Solana typically offer the lowest rewards.

Conversely, new cryptocurrencies provide much bigger payouts. This is because demand is weaker, so projects must incentivize investors to stake their holdings.

Upside Potential

It’s best to buy staking coins that have the greatest upside potential. After all, price appreciation can be significantly higher than staking APYs. For instance, Ethereum staking averages 2-5% annually, depending on the platform.

However, the Ethereum price has increased by over 65% in the past year. Similarly, Solana staking offers average payouts of about 4-8% per year. The Solana price has increased by almost 590% over the same period. Therefore, consider the longer-term picture when selecting staking coins.

Sustainability

Staking rewards must be offered sustainably. Understanding how the rewards are generated is crucial. This is often through inflationary practices. For example, approximately 2 ETH is added to the circulating supply per verified block.

This increases the supply, meaning existing holders are diluted. However, Ethereum has implemented a burning mechanism, where a percentage of gas fees are removed from the supply. This reduces the inflation constraints and makes Ethereum staking viable.

Liquidity

Liquidity is crucial when selecting the best cryptocurrencies to buy. This should also be considered when staking. Crucially, you don’t want to be left with cryptocurrencies you’re unable to sell. For example, suppose you earn APYs of 500% on a small-cap token.

However, the token has limited liquidity on crypto exchanges. As such, you can only sell a small percentage of those holdings. This won’t be an issue when staking large-cap coins like Ethereum and Cardano, with billions of dollars worth of liquidity available around the clock.

How Profitable Can Crypto Staking Be?

Staking profitability depends on two key factors:

• The staking APY obtained
• Whether the coin’s value rises or falls, and by how much

Ideally, you’ll be staking coins offering a high APY and high growth potential. These two metrics will enable you to maximize the returns.

For example:

• Let’s say you buy 100 SOL, each valued at $150. This brings the total investment to $15,000.
• You immediately stake that 100 SOL on a 12-month basis, with an interest rate of 7%.
• After the term passes, you’ve earned staking rewards of 7 SOL(7% of 100 SOL).
• You also receive the original 100 SOL principal.
• This takes your total holdings to 107 SOL.
• The SOL price has since increased to $250.
• The 7 SOL staking rewards are worth $1,750 (7 x $250).
• The original 100 SOL is worth $25,000 (100 x $250).
• Your total investment is now worth $26,750.

Do note that the above returns can be compounded when receiving more frequent payouts. This is because you can reinvest those payouts into the same staking pool. This compounds the returns, as you earn interest on the newly deposited coins.

Additionally, there’s no guarantee that the staked coins will increase in value. If they don’t, you could lose money if the generated staking rewards aren’t sufficient. In the above example, we mentioned that SOL offered a 7% interest rate. If SOL declined by over 7% after 12 months, the investor would be at a loss.

How to Start Staking Crypto

We’ll now explain how to stake crypto at Margex, our top-rated pick for 2024.

• Step 1: Open a Margex Account – Visit the Margex website to register an account. Tap on ‘Register’ then open the registration confirmation email and tap the confirm link to complete the account registration process.
• Step 2: Deposit Funds – Margex supports a wide range of payment methods, including direct crypto deposits or buying crypto with a bank card via Changelly or ChangeNOW.
• Step 3: Buy Staking Coin – Now search for the staking coin you want to purchase by clicking on the ‘Buy Crypto’ option and follow the instructions to purchase the cryptos of your choice via Changelly or ChangeNOW.
• Step 4: Head Over to the Wallet Page – Navigate your way to the ‘wallet’ page and tap on the stake/unstake slider to stake your wallet balance for the specific crypto.
• Step 5: Earn Staking Rewards—Once you’ve activated staking for tokens within your account, staking payouts are measured and allocated to the wallet balance daily. According to the Margex website: “Staking yield is calculated based on the lowest value of the balance since the previous yield payout for the corresponding coin/token.”

Conclusion

We’ve ranked the best crypto staking platforms, with Margex being our top choice. Margex stands out for its low fees, user-friendly dashboard, and simple staking process.

It’s also possible to buy staking coins with convenient payment methods, and automatically earn rewards once the grace period passes.

FAQs

The post Best Crypto Staking Platforms in December 2024 appeared first on ReadWrite.

12% of the UK population have purchased cryptocurrencies at least once, with most opting for Bitcoin. This is up four-fold from 2019 figures. Bitcoin is the original cryptocurrency and the largest by market capitalization.

It has produced life-changing gains since launching in 2009, going from a fraction of a penny to tens of thousands of pounds. This beginner’s guide explains how to buy Bitcoin in the UK. Discover FCA-regulated exchanges with the lowest fees, and what risks to consider before proceeding.

Where to Buy Bitcoin in the UK

Millions of people own cryptocurrency in the UK. But where is the best place to buy Bitcoin? Read on to discover different investing methods and platforms.

Cryptocurrency Exchanges

The safest and most convenient way of investing in Bitcoin is via cryptocurrency exchanges. These are trading platforms that specialize in cryptocurrencies, whether that’s Bitcoin, Ethereum, or Solana. Many exchanges accept GBP deposits, including debit/credit cards and e-wallets.

Most cryptocurrency exchanges are unregulated, so it’s important to conduct due diligence before proceeding. The best option is to use an exchange that’s approved and licensed by the FCA. This ensures a safe investing experience.

Let’s explore the best Bitcoin exchanges for UK investors in 2024:

1. eToro – The Overall Best Place to Invest in Bitcoin in the UK

eToro is a regulated trading platform with over 35 million clients. It holds licenses from multiple regulatory bodies, including the UK’s FCA. It also offers two-factor authentication (2FA) and keeps client-owned cryptocurrencies in cold storage. It takes less than five minutes to buy Bitcoin on eToro. UK investors can instantly deposit funds with a debit/credit card, PayPal, Skrill, and Neteller.

The minimum first-time deposit is $100. After that, UK investors can deposit just $10. This is also the minimum when placing Bitcoin orders. eToro offers a custodial wallet service, so you won’t need to manage the private keys. However, it also permits withdrawals, so you can transfer the purchased Bitcoins to a private wallet.

eToro also offers other cryptocurrencies, including some of the best meme coins. This includes Dogecoin, Pepe, and Shiba Inu. UK investors also have access to shares, forex, indices, and other asset classes. eToro also offers passive investment tools, including copy trading. Not to mention cryptocurrency smart portfolios, which are hand-picked and managed by eToro.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

2. MEXC – Diversify by Buying Bitcoin and Thousands of Other Cryptocurrencies  

MEXC is the go-to cryptocurrency exchange for diversification. It’s one of the largest exchanges for daily trading volume and liquidity and boasts over 15 million clients.

In addition to Bitcoin, UK investors will find over 2,800 other cryptocurrencies. This ensures you’re not over-exposed to Bitcoin and that you avoid missing out on other market opportunities. Some of the best cryptocurrencies listed by MEXC include Ethereum, Dogecoin, Solana, Chainlink, and Bitcoin Cash.

Going back to Bitcoin, MEXC has a minimum purchase requirement of £22 when using a debit/credit card. This is an ‘instant buy’ feature, meaning the Bitcoins are instantly added to your account when the transaction is confirmed.

MEXC isn’t regulated by the FCA, which will be a drawback for some users. That said, you can immediately withdraw the purchased Bitcoins to a private wallet. The withdrawal should be approved in seconds. MEXC is available on multiple devices, including web browsers and an app for iOS and Android. Other features at MEXC include copy trading, savings accounts, and perpetual futures.

No KYC Exchanges

Some crypto trading platforms double up as ‘no KYC’ exchanges. In a nutshell, this means users aren’t asked for personal information or ID verification when opening an account.

This is particularly attractive to traders seeking products that aren’t available in the UK. For instance, Bitcoin futures, which offer leverage.

However, no KYC exchanges are rarely regulated. They’re also based outside of the UK, so no investor protections are in place. Nonetheless, they remain a popular option, so let’s explore the best no KYC exchanges for 2024.

1. Margex – Instantly Buy Popular Cryptocurrencies With a Debit/Credit Card   

Margex is a solid choice for Bitcoin investors seeking a KYC-free experience. It takes seconds to open an account; Margex only needs an email address. You can then buy Bitcoin from just £4. Over 150 payment methods are supported, ranging from Visa and MasterCard to Apple and Google Pay.

Margex also offers staking rewards, so you can earn interest on your Bitcoin holdings. The APY is currently 3%.

Alternatively, you can withdraw the Bitcoins to a private wallet if you’re not comfortable keeping them on an unregulated exchange. Withdrawal requests are approved daily between 12 pm and 2 pm (UK time). It will then take about 10-15 minutes for the Bitcoins to arrive in your private wallet.

Another option is to use the purchased Bitcoins for collateral. This provides access to perpetual futures with 100x leverage. For example, suppose you bought £50 worth of Bitcoin. You could place a futures order worth £5,000. However, leverage is risky, as the position could be liquidated. Margex also supports popular altcoins, including Ethereum, Solana, and Polygon.

2. BloFin – Trade Bitcoin at Super-Low Commissions of 0.1% per Slide   

BloFin is a great option for keeping Bitcoin trading costs to a minimum. It charges just 0.1% per slide, meaning investors are charged when buying and selling Bitcoin. For example, suppose you buy £2,000 worth of Bitcoin – you’d pay commissions of just £2. Then, suppose you sell that Bitcoin when it’s worth £5,000. The sale commission would be just £5.

Before trading, you’ll need to purchase some Bitcoin with GBP. BloFin has partnered with reputable fiat gateways like Simplex and Unlimit. This means you can use a credit or debit card. BloFin is also a great option for trading perpetual futures. It enables users to go long or short and the maximum leverage limit is 150x. This converts a £100 balance into £15,000 in trading capital.

Other cryptocurrencies available on BloFin include Ethereum, Toncoin, FLOKI, Solana, and hundreds more. BloFin also offers advanced analysis, including technical indicators like the MACD. However, these features are aimed at seasoned traders. Beginners will like the BloFin app for iOS and Android, which offers a simple interface.

Bitcoin Wallets

You might also consider buying Bitcoin from a wallet. This adds an extra layer of convenience, considering the wallet can also be used to store Bitcoin.

Some crypto wallets offer custodial storage, meaning you won’t need to manage the private keys (this is the password to the wallet). Other wallets are non-custodial, giving you full control of the private keys and thus, the Bitcoin holdings. However, misplacing the private keys can lead to a loss of funds.

Let’s explore the best options when buying Bitcoin via a wallet.

1. eToro Money Crypto Wallet – User-Friendly Bitcoin Wallet With Unloseable Private Keys

eToro Money Wallet is a mobile app for iOS and Android. It covers everything investors need when buying and storing Bitcoin. This includes depositing GBP with local bank transfers and debit/credit cards. No deposit fees are charged to UK investors. Additionally, you can also buy other cryptocurrencies, including Ethereum and Litecoin.

This means you can build a diversified portfolio and keep all coins in one safe place. eToro Money Wallet also enables users to sell Bitcoin for GBP. This prevents the need to use a third-party exchange. The wallet is custodial, so eToro is responsible for security. It offers an unloseable private key, so access can be recovered even if you forget the PIN or lose the smartphone.

eToro Money Wallet also supports transactions. For example, you can receive cryptocurrencies from another location. Or send them to a different wallet address. Cryptocurrencies can also be transferred to and from the main eToro platform. This provides additional opportunities, such as copy trading, smart portfolios, and staking.

eToro is a multi-asset platform which offers both investing in stocks and crypto assets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

2. Exodus – Decentralized Bitcoin Wallet Supporting GBP Payments and Instant Swaps 

Exodus is one of the best decentralized cryptocurrency wallets. It offers non-custodial storage, so nobody but you can access the private keys. The wallet is secured by a PIN or password, depending on whether you’re using the mobile app or desktop software. There’s also a browser extension for Google Chrome.

Exodus doesn’t have a registration process, so you can store cryptocurrencies privately. The wallet also supports GBP payments, meaning you can buy Bitcoin in the UK with a debit card. Credit cards are also accepted. No transfers are needed; the Bitcoin bought will be added to the Exodus wallet balance. Exodus also supports ‘instant swaps’.

This means you can swap Bitcoin for another digital asset. Thousands of cryptocurrencies are available across over 50 blockchains, including Solana, XRP, Ethereum, and Bitcoin Cash. Exodus is free and there aren’t any markups when transferring coins. Importantly, Exodus has a great reputation and has been operating since 2015. However, unlike many wallets, Exodus is only partially open-source.

How to Invest in Bitcoin UK – Detailed Tutorial

We’ll now explain how to buy Bitcoin in the UK. This step-by-step walkthrough takes less than five minutes to complete. Read on to enter the Bitcoin space for the first time.

Step 1: Choose a Bitcoin Exchange

The first step is to choose a Bitcoin exchange. According to CoinMarketCap, more than 750 exchanges list Bitcoin. Most are unregulated, and only a few are licensed by the FCA. We’d strongly suggest using a platform with FCA approval, considering it’s the UK’s financial watchdog.

As such, we’re using eToro for this Bitcoin investing tutorial. While eToro charges higher commissions than most exchanges, it’s the safest way to invest. Moreover, eToro is ideal for first-time investors, considering its clean and beginner-friendly interface.

Step 2: Open a Bitcoin Exchange Account

eToro offers just one account type, which takes less than a minute to open. Just visit the eToro website and complete the registration form.

Information required:

• Full name
• UK residential address
• Mobile number
• Email address
• Date of birth
• Chosen username and password
• National insurance number

A KYC process will be required at some point, but it’s best to quickly complete it now. Simply upload a proof of address, such as a bank statement. Plus, either a passport or driver’s license for ID verification.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

Step 3: Make a Deposit

You can now deposit some funds. The account balance will then be used to buy Bitcoin.

Popular deposit methods supported by eToro include:

• Debit/credit cards (Visa, Visa Electron, MasterCard, Maestro)
• PayPal
• Skrill
• Neteller
• Bank transfer

We’d suggest avoiding bank transfers as a payment method if possible. Not only is the minimum deposit $500 (about £380) but it can take a few days to arrive. Instead, consider a debit/credit card or e-wallet. The minimum deposit is just $100 and the payment will be approved immediately.

Step 5: Search for Bitcoin

eToro lists almost 100 cryptocurrencies and thousands of other assets. Use the search bar to find Bitcoin rather than scrolling through thousands of investments.

Just type in ‘Bitcoin’ and click ‘Trade’ to load the order form.

Step 6: Buy Bitcoin

The order form below highlights how user-friendly eToro is. All you need to do is state the investment size.

The number of Bitcoins updates automatically. For instance, we’ve typed in $200 (about £152), which gets us 0.0031 BTC units.

Finally, hit the ‘Buy’ button to confirm the Bitcoin purchase. And that’s it – you’ve just bought Bitcoin for the first time.

Step 7: Choose a Bitcoin Storage Method

This step is optional. Millions of eToro clients buy Bitcoin and keep the coins in their accounts. This is because the account doubles up as a custodial wallet.

This means:

• eToro takes custody of the Bitcoins like a bank safeguards your savings
• Robust security features are employed, including cold storage and analytic behavior machine learning
• Users can also add 2FA to their eToro accounts (highly recommended)
• eToro is authorized and regulated by the FCA, including other bodies

However, eToro is a centralized platform, meaning you must consider the counterparty risk. For a start, while eToro is an FSCS member, this doesn’t cover cryptocurrency investments. Moreover, you need authorization from eToro when transferring cryptocurrencies to another location.

This doesn’t sit right with many cryptocurrency investors. As such, you might consider a non-custodial wallet like Exodus. Once the Bitcoin cryptocurrency is received, nobody but you can make wallet decisions. Not even Exodus can see the private keys, so the Bitcoins are ‘off the grid’.

What is Bitcoin?

Bitcoin is the world’s original cryptocurrency. It’s a digital asset, so it doesn’t exist in tangible form like pounds, dollars, and other currencies. Instead, it operates on the blockchain; a decentralized network that supports peer-to-peer payments. This means transactions are verified without third parties, like banks and brokers.

Bitcoin was launched in 2009 by ‘Satoshi Nakamoto’, a pseudonymous cryptographic developer. The total Bitcoin supply is 21 million BTC, but this won’t be reached until 2140. In the meantime, 3.125 BTC enters the circulating supply every 10 minutes. This is reduced by 50% approximately every four years. Bitcoin transactions also take 10 minutes, no matter where the sender and receiver are located.

However, only a small percentage of Bitcoin holders use their coins for transactions. The majority of people buy Bitcoin to make money, just like investing in shares or ETFs. This is because Bitcoin has produced unprecedented gains since its inception. It wasn’t even worth a penny in 2009 but has since hit all-time highs of over $74,000 (about £56,000).

What to Consider When Buying Bitcoin

Consider the following points if you’re buying Bitcoin for the first time:

• Get Comfortable With USD Prices: Bitcoin can be purchased with GBP. However, similar to gold, oil, and other global assets, Bitcoin is typically quoted in USD. Therefore, it’s a good idea to get comfortable with USD price movements before investing. We’ll use USD denominations for the remainder of this guide to give you a head start.
• Bitcoin is Volatile: Bitcoin prices change depending on buying and selling pressure. This is no different from traditional assets. However, Bitcoin price movements can be super-volatile. For instance, Bitcoin has a 52-week high and low of $26,558 and $73,750, respectively. That’s a significant swing in just a year of trading.
• You Don’t Need to Buy a Full Bitcoin: Beginners often assume that you must buy 1 full Bitcoin. This would cost about $62,000 right now, a significant amount to risk on a speculative asset. Bitcoin can be divided into 100 million units, with the lowest denomination (a Satoshi) being 0.00000001 BTC. That’s worth about $0.00062.
• Most Bitcoin Exchanges are Unregulated: From the 750+ Bitcoin exchanges listed on CoinMarketCap, only a handful are regulated. An even smaller number have approval from the FCA. As such, UK investors should be cautious when choosing an exchange. Reputable crypto exchanges with FCA regulation include eToro and Gemini.
• You Can Cash Out 24/7: Bitcoin can be cashed out for GBP at any time. Unlike shares, which trade during standard market hours, Bitcoin can be bought and sold 24/7. What’s more, Bitcoin is highly liquid. Billions of pounds worth of Bitcoin change hands every day. This means you’ll have no issues when it’s time to sell.

Potential Rewards & Risks of Investing in Bitcoin

We’ll now take a closer look at the potential rewards and risks of Bitcoin investing. We’ll also explore the pros and cons, so read on to make an informed decision.

Bitcoin’s Potential Upside

Bitcoin is a decentralized asset that enables people to store wealth away from centralized institutions. It’s also ideal as a store of value, considering its predictable and finite supply. It’s also ideal for local and cross-border payments. Bitcoin transfers take just 10 minutes no matter where the transacting parties are based.

All that said, Bitcoin’s most attractive aspect is its price potential. Especially when considering its past performance. CoinMarketCap data shows that Bitcoin has risen by over 101 million percent since its first recorded price in 2011.

Bitcoin has also generated significant gains in recent years. For example, you could have bought Bitcoin for under $17,000 in late 2022. It has since increased by 333%, based on a 52-week high of $73,750. However, Bitcoin’s volatility means that today, you can enter the market 15% below its all-time high.

In the longer-term horizon, Standard Chartered believes Bitcoin could hit $250,000 in 2025. This would offer gains of over 300% based on current prices. Cathie Wood of ARK Invest is aiming for at least $1 million by 2030. This would represent an upside of 1,500% from existing valuations.

Bitcoin’s Risks

The above predictions are merely speculative. Nobody can predict Bitcoin prices with any certainty, even financial powerhouses like Standard Chartered and ARK Invest. What’s more, Bitcoin’s past performance isn’t guaranteed to repeat itself. Therefore, you must understand the investment risks before proceeding. 

• The main risk is that Bitcoin’s price can decline.
• If it does, and you cash out, you’d get less than you started with.
• For example, consider an investor who bought Bitcoin when it hit a 52-week high of over $73,000
• Bitcoin dropped to about $54,000 early this month.
• Had the investor cashed out, they would have lost 26%. That’s £260 for every £1,000 invested.

You should also consider external risks, especially those linked to unregulated exchanges and wallet hacks. In addition, keep tabs on regulatory developments that could impact your Bitcoin investment. you should also remember your tax obligations.

How to Invest in Bitcoin Safely

Let’s summarize some key safety tips when learning how to buy Bitcoin in the UK:

• Start Small: It can be tempting to invest large amounts into Bitcoin, especially considering its past performance. However, the Bitcoin market is still only 15 years old. In contrast, the UK stock market has been active for over two centuries. Consider investing small and steady amounts until you get more comfortable.
• Only Use FCA-Approved Platforms: Another best practice is only to use cryptocurrency platforms that are approved by the FCA. You can double-check the platform’s regulatory status via the FCA register. This will confirm that the provider’s license is still valid.
• Consider Getting a Hardware Wallet: In the long run, it’s best to store Bitcoin in a hardware wallet. Multiple options are available, each offering cold storage. This means the wallet can’t be hacked remotely, as it’s always offline. Bitcoin can only leave a hardware wallet when a PIN is entered on the device. Or the device is used to scan a QR code.
• Don’t Share Your Bitcoin Wallet Address: Wallet addresses can’t be used by hackers, as they’re simply a way to receive Bitcoin (similar to a bank account number and sort code). However, unlike bank accounts, wallet addresses are transparent. This means people can see how many Bitcoins you have and which addresses you’ve transacted with. Therefore, it’s best to avoid sharing your Bitcoin address with others.

Conclusion

In summary, we’ve explained where and how to invest in Bitcoin in the UK. This high-growth asset has outperformed most financial markets in recent years. However, it’s important to consider the risks; Bitcoin is volatile and speculative.

The next step is to choose a safe Bitcoin exchange. eToro is a popular option for UK investors. It offers a user-friendly interface, small trading minimums, and an all-important FCA license. eToro also enables users to deposit funds with a debit/credit card or e-wallet, making it a convenient choice.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

FAQs

The post How to Buy Bitcoin UK: A Comprehensive Guide for Beginners appeared first on ReadWrite.

UK residents have many options when buying Bitcoin online, including debit cards issued by Visa and MasterCard. This is the fastest and most convenient way of investing in cryptocurrencies.

This guide explains the process of buying crypto in simple terms. Read on to buy Bitcoin with a debit card in the UK in under five minutes. Learn how fees work, what risks to consider, and how to stay safe.

Best Place to Buy Bitcoin With Debit Card UK

Still not sure where to buy Bitcoin with a debit card? We’ll now discuss the three best options for UK residents, covering eToro, Best Wallet, and Margex.

1. eToro – The Overall Best Place to Invest in Bitcoin in the UK

UK residents will find that eToro is the best place to buy Bitcoin. It supports debit cards issued by Visa and MasterCard, plus e-wallets and bank transfers. Most importantly, eToro is authorized and regulated by the FCA. This ensures UK traders can buy Bitcoin on eToro in a safe and secure environment. eToro also offers two-factor authentication and cold storage solutions.

eToro offers fee-free deposits when using a debit card issued in the UK. The minimum first-time deposit is $100 or about £76. That said, the minimum trade requirement is just $10, or about £7. This means you can easily diversify into other markets. For instance, eToro not only supports the best altcoins but also stocks, ETFs, forex, commodities, and indices.

eToro charges a 1% commission when buying and selling cryptocurrencies. While this is higher than other exchanges, it’s a competitive price to pay for regulated trading services. eToro also offers smart portfolios and copy trading. These tools enable users to invest passively. eToro offers live chat support, but only during standard market hours.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

2. Best Wallet – Buy, Store, and Swap Cryptocurrencies in a Self-Custody Wallet

Best Wallet’s user-friendly app offers an entire cryptocurrency ecosystem. Available on iOS and Android, users have access to a self-custody wallet and a decentralized exchange. Put otherwise, UK residents can buy Bitcoin with a debit card and safely store their digital currencies away from centralized platforms.

This removes counterparty risk and ensures investors own and control their purchased Bitcoins. Debit card payments are processed by third parties, so fees will often exceed 3%. That said, the Bitcoins are immediately added to the Best Wallet balance. This makes the process fast and convenient, considering you won’t need to make a transfer from an exchange.

Best Wallet is also a great option for building a diversified portfolio. It supports the best cryptocurrencies from multiple blockchains, including Solana, XRP, BNB, Ethereum, Arbitrum, and Polygon. Best Wallet also offers an instant conversion tool, which connects to the wallet balance. This means you can swap Bitcoin for thousands of other cryptocurrencies.

3. Margex – Buy Bitcoin From Just £4 and Earn Staking APYs of 3%   

Margex is a futures trading platform that supports Bitcoin, Ethereum, and other popular cryptocurrencies. It also enables users to buy BTC with a debit card. The minimum payment requirement is just £4, making Margex an ideal choice for beginners. Purchases are also executed and settled instantly. Fees are built into the exchange rate, and quoted based on real-time market conditions.

Margex offers two options once the Bitcoins have been purchased. First, users can withdraw their Bitcoins to a private bitcoin wallet address. Withdrawals are approved daily for enhanced security. Second, users can stake Bitcoin on Margex, with interest rates currently at 3%. This provides passive income in a safe environment, considering Margex utilizes institutional-grade security.

It also offers that all-important two-factor authentication. Margex also offers copy trading services, allowing users to mirror experienced investors. It also offers a user-friendly mobile app for iOS and Android. This supports Bitcoin price alerts, ensuring you’re always aware of key market developments. Although Margex also offers cryptocurrency derivatives, these aren’t available to UK residents.

Should I Use a Debit Card When Buying Bitcoin Online?

Most UK residents use debit cards for everyday spending. They can also be used to buy Bitcoin, as well as invest in other assets like stocks and ETFs. The main benefit is speed; debit card deposits are processed by Bitcoin exchanges instantly. This means you can immediately swap GBP for BTC at current market prices.

What’s more, you won’t be charged any fees by the issuing bank. And, when using a cost-effective exchange like eToro, you can also avoid deposit charges. This isn’t the case with other UK crypto exchanges like Coinbase and Gemini, which charge 3.99% and 3.49%, respectively.

Choosing Between a Debit Card and Credit Card When Buying Bitcoin

We’ve established the benefits of buying Bitcoin with a debit card in the UK. But what about using a credit card? In a nutshell, credit cards can also be used. And, just like debit cards, users benefit from an instant deposit process.

However, depositing money into a Bitcoin exchange will be viewed as a cash advance. This means that, just like withdrawing funds from an ATM, fees of 3-5% will be added to the amount. Not only that but interest will be added to the transaction immediately.

Another drawback of using a credit card is risk. This is because the full amount will be due when the next statement arrives.

• For instance, suppose you use a credit card to buy £500 worth of Bitcoin.
• That Bitcoin investment is only worth £300 when the statement balance is due.
• You’d need to cover that £500 even though the investment value has declined to £300.
• In addition to the cash advance, additional interest will be charged if the statement isn’t cleared in full.
• This adds to the investment cost basis, making it increasingly more difficult to make a profit.

Therefore, using a debit card is the better option. After all, you’ll reduce fees and only be using the money you have in the account.

Other Ways to Buy Bitcoin in the UK

Here are some other ways to purchase Bitcoin as a UK resident:

• Bank Transfer: Some Bitcoin exchanges accept UK bank transfers. The payment should go through the Faster Payments network, meaning it could arrive almost instantly. Just ensure the reference (provided by the exchange) is added to the payment. Otherwise, the exchange will need to manually credit the deposit.
• E-Wallets: It’s also possible to use e-wallets when buying Bitcoin in the UK. eToro, for instance, accepts PayPal, Skrill, and Neteller. These popular e-wallet providers offer instant payment and a secure experience. Just make sure the e-wallet account is verified, as this is often a minimum requirement when investing in cryptocurrencies.
• P2P Exchange: You might also consider using a peer-to-peer (P2P) exchange when buying Bitcoin. This means you directly transfer funds to the seller. And the seller directly transfers Bitcoin to your wallet. P2P transactions are usually protected by an escrow service but aren’t 100% risk-free.
• Bitcoin ETFs: UK residents can also invest in Bitcoin via traditional ETFs. The iShares Bitcoin Trust (IBIT) by BlackRock, for instance, is physically backed by Bitcoin. This means the ETF closely tracks the Bitcoin price. UK residents can buy IBIT on eToro without paying any commissions.
• Bitcoin Stocks: You can also buy traditional stocks that specifically operate in the Bitcoin sector. Coinbase – one of the largest Bitcoin exchanges globally, is listed on the NASDAQ. However, there could be a big disparity between Coinbase stock and the Bitcoin price. This is because internal factors, such as profitability, should also be considered. Nonetheless, UK traders can buy Coinbase stock on eToro without paying a commission.

Safety Considerations When Buying Bitcoin With Debit Card

Buying Bitcoin with a debit card in the UK requires some safety considerations. At the forefront is using a Bitcoin exchange that’s authorized and regulated by the FCA. Otherwise, you can’t be sure that you’re investing in a safe environment. You can search for the exchange on the FCA register to evaluate its regulatory status.

However, just remember that even FCA-regulated exchanges still prevent counterparty risk. This is because you’re trusting the exchange to safeguard your Bitcoins. If the exchange goes bust, the FSCS doesn’t cover digital assets, which include Bitcoin. As such, you might consider withdrawing the Bitcoins from the exchange to a private wallet.

More specifically, use a self-custody wallet like Best Wallet. Only the wallet owner has access to the private keys and backup passphrases, ensuring 100% ownership of crypto assets and no reliance on third-party custodians. Additionally, don’t forget about tax liabilities. Selling Bitcoin for a profit will trigger capital gains tax when you exceed your annual tax-free limits.

The Verdict?

We’ve explained how to buy Bitcoin with a debit card in the UK. There are plenty of good options in the market, but eToro is our overall top pick. It’s authorized and regulated by the FCA and offers fee-free deposits when using a debit card.

Payments are credited instantly, and you’ll also have access to almost 100 other cryptocurrencies. However, the minimum first-time deposit is $100, or about £76.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

FAQs

The post How to Buy Bitcoin in the UK With a Debit Card: Simple Guide for 2024 appeared first on ReadWrite.

Margex is a Seychelles-based crypto exchange. It is known for offering a robust and secure crypto trading platform to trade crypto on leverage and maximize profitability through ultra-convenient copy trading.

The exchange, available for both Android and iOS devices, has now unveiled a full mobile app redesign to change the world of crypto trading.

Margex App 3.0 is packed with new features aimed at enhancing user convenience, improving trading skills, and increasing the probability of financial gains. The exchange also plans to release its ultra-modern wallet in the near future, giving users asset control and enabling copy trading with just a few clicks.

Here are all the latest features that will help you elevate your trading experience:

New Login Feature for Convenience

The complete redesign of Margex’s mobile crypto trading app, dubbed Margex App 3.0, offers a fresh look that significantly boosts the user experience. Its desktop usability has already received a lot of praise, and now, with Margex App 3.0, the exchange is ready to elevate its mobile app further as well.

One of the simple yet important features introduced in this overhaul is the ability to log in through Google and Apple ID. With this functionality, you can sign in and start using the Margex app with your existing account.

This not only adds convenience, as you don’t have to create and remember yet another password, but it also boosts security, given that Google and Apple have strong security measures as well as teams dedicated to this endeavor.

Convert Crypto Easily & Cost-effectively

If you’ve been enjoying the ‘Convert’ feature on Margex, then you’ll love what the exchange has done to its crypto trading app. The improvements focus on ease of use and faster exchanges between crypto assets. Margex offers hundreds of tokens for you to swap.

Additionally, crypto conversion has been made cheaper—in fact, it involves no cost at all. The app now supports a zero-fee converter, allowing users to seamlessly swap between all the listed tokens without incurring any additional costs.

Using this feature, crypto traders and investors can easily diversify their portfolios and efficiently manage their positions in real-time. Moreover, it significantly improves the copy trading experience on the mobile app, enabling you to follow multiple traders focused on different tokens, rebalance your assets, and maximize your strategies.

Guided Onboarding for both Beginners & Experienced Traders 

Margex knows the importance of a helping hand and how much of a difference it can make in smoothing the onboarding process, especially when it comes to finance.

So, using an onboarding approach, the exchange is simplifying the process for beginners. It provides a walkthrough for signing up and security of the account, while educational articles explain everything about depositing funds, trading pairs, and order types. Additionally, its demo trading mode allows newcomers to practice with virtual funds before risking real money in live trading.

For more experienced traders, the Margex app offers advanced tools and flexibility. From margin trading, staking, copy trading, and zero-fee token converters, Margex provides many features to enhance your trading experience. On top of all this, the exchange also offers incentives, real-time customer support, and best security practices.

Quick Wallet Updates

The Margex App 3.0 now comes with real-time crypto wallet updates, keeping you synced with your balances in real time. This feature helps you avoid mistakes due to a distorted view of your funds.

Up-to-date information about your available funds also ensures that you are making quick, accurate, and informed decisions. Real-time wallet updates further allow you to copy trade more effectively, as synced wallet balance ensures your trades match those of the selected traders without errors or delays.

Overall, this feature helps you manage your portfolio more effectively, capitalize on market opportunities, and boost your confidence in the platform.

Stay Informed with Direct Access to Crypto Market Insights

The rapidly evolving world of cryptocurrency is complex, and with hundreds of thousands of tokens in existence today, staying on top of all that’s going on in this space can be challenging.

By providing users access to the latest crypto market insights right within the app, Margex allows them to stay informed at all times. For this, the exchange utilizes crypto price alerts, which automatically notify you of any changes in price, volume, market cap, and ETH gas.

This feature of Margex App 3.0 enables a crypto trader and investors to make timely trades and optimize strategies and investment opportunities, helping them navigate the market more effectively and increase their chances of success.

Unlock New Opportunities with Ongoing Promotions

One of the most alluring features of crypto exchanges is the attractive promotions they run, offering several ways for crypto enthusiast to earn free coins, improve their skills, gain experience, explore new strategies, and get juicy rewards. 

Margex, for instance, offers registration bonuses, deposit bonuses, airdrops, discounts on trade fees, referral programs, and many other campaigns to attract new users and retain its most loyal ones.

In its latest app upgrade, Margex will display all the ongoing events on the home screen with distinctive icons to make it easy for you to spot exciting opportunities and take advantage of them before they expire. Additionally, helpful articles will also be showcased on the main screen so that you can get timely assistance. 

Margex App 3.0: The Best App for Crypto Traders

As the crypto market and adoption continue to grow substantially, it’s essential to leverage a trading platform that offers ease of use, tools, and profit-making options. Margex offers all that and more. With one-tap login access, improved crypto conversions, guided onboarding, and a hub of market insights and exclusive promotions, Margex app 3.0 helps traders make the most of crypto’s volatility and opportunities.

So, if you want to up your crypto trading game, be sure to create an account on Margex!

References

• Number of cryptocurrencies 2013-2024 (Statista)
• What is Copy Trading? (Binance)
• Margin Trading Guide (Forbes)

The post Margex App 3.0 to Redefine Mobile Crypto Trading with New Features and Enhanced User Experience appeared first on ReadWrite.

One great way to earn crypto without buying any is to take advantage of promotional campaigns offered by crypto platforms.

Bybit, a leading cryptocurrency exchange with 49 million users, is well-known for hosting several competitions that offer its users opportunities not only to win big prizes but also to refine their trading skills, gain more Web3 awareness, and level up their crypto game.

The exchange has created a popular global trading competition called the World Series of Trading (WSOT), which is returning this year with even more enthusiasm, bigger rewards, and far greater excitement.

The renowned WSOT offers the chance to get your hands on a Rolex watch, world travel tickets, a yacht, and a prize pool of up to 10,000,000 USDT. The Bybit WSOT DEX Wave is already underway and will run the entire month of October—so get ready to dive in!

Earning Voting Points to Boost Your Winning Odds

Before you begin competing for a hefty share of the big prize pool, know that there are a couple of ways to amplify your chances of winning.

The first is to trade crypto on DEX Pro daily. Your voting points depend on your trading volume, so the more you trade on its decentralized exchange, the more points you’ll earn.

According to the tiered structure, a trading volume of up to 10 USDT earns you 1 Voting Point. A trading volume between 10 to 50 USDT meanwhile increases your points to 5, with the highest being 200 points for a volume above 500 USDT. Given that Bybit’s DEX offers ease of use, a wide range of tokens, and advanced tools, you’ll have fun trading while earning additional points.

Another way is to complete daily tasks. These tasks involve visiting the project’s social channels, following the project on X (Twitter), and spreading the word around. By doing simple activities, you can earn extra points.

How to Get Your Hands on the Grand Prize Pool of 800,000 MNT

The WSOT DEX Wave’s Grand Prize pool of 800,000 MNT will be distributed to traders based on the best Web3 projects they vote for and the number of Voting Points they have.

A significant portion of this pool—600,000 MNT—will be shared by the top 500 supporters of the project that finishes in the top 10. Essentially, you’re voting to back the next Web3 superstar.

For instance, in the ongoing first wave, DEX AGNI Finance is in the leading, with infra project Orbiter Finance in 2nd place and derivative protocol Merkel Trade in the 3rd. There are a total of four waves, with each one lasting for a week.

The rest of the 200,000 MNT will be distributed among the project supporters with over 1000 Voting Points. So, the more voting points you have, the more MNT rewards you’ll receive.

Spot Listing Bonus and Bounty Quests for Extra Points

We’ve already talked about how users can significantly boost their chances of winning by earning more Voting Points. But what about the projects? Bybit gives Web3 projects several ways to earn Voting Points and emerge a winner.

For starters, projects receive the same number of Voting Points as their supporters earn each day.

Then comes the power of social media for promotion by supporters. Here, the ecosystem of a project can recommend the project by posting about it on platforms like X, Medium, blogs, and more while tagging WSOT. The project can earn up to 200,000 additional Voting Points.

Another way is by participating in a special surprise challenge that will run throughout the event, allowing projects to win Bounty Quests and earn more points. Climbing the Spot Trading Volume Leaderboard for your listed token will also earn you additional Voting Points. The higher your rank on the leaderboard, the more points you earn, and the better your chances to win.

Why Crypto Traders Are Rushing to Get Involved

Crypto trading competitions, simply put, are a fun way of earning money through a gamified experience. By participating in high-value competitions like Bybit’s WSOT DEX Wave, a crypto trader can put their skills to the test and earn incredible rewards.

So, don’t miss this opportunity to get a share of the 1,000,000 MNT prize pool. Head over to Bybit and start trading and voting now!

Explore Bybit:

• Website
• Telegram
• X (Twitter)
• Facebook

The post How to Unlock Your Share of 1,000,000 MNT in Bybit’s WSOT DEX Wave Competition appeared first on ReadWrite.

If you don’t want to miss the lucrative, profitable opportunities that the crypto market offers, you should get your hands on the crypto price alert tool.

The thing is, crypto has come a long way since its early days when the market was small and relatively easy to keep up with. That’s no longer the case.

The crypto market has grown significantly since then. It’s worth trillions of dollars, and the sheer number of categories and tokens within it has grown exponentially, making it hard for one person—or even a group of enthusiasts—to keep up with what’s hot, trending, and attracting market attention.

That’s where Margex price alerts come into the picture. It helps keep you informed and track the crypto market’s biggest trends without being overwhelmed.

What are Margex Crypto Price Alerts?

Much like setting an alarm clock to wake you up at a designated time, price alerts notify you when an asset reaches a price you’re interested in.

With Margex’s crypto price alert tool, you can set an alarm for a desired crypto price and receive push notifications when it’s reached.

This way, you don’t have to constantly monitor the crypto market that operates around the clock, freeing you to focus on improving your trading strategy and making profitable trades.

Margex’s crypto price alert will automatically notify you of price movements beyond a specific point, allowing you to make better use of your time and prevent overtrading, which can negatively affect your profitability. It’s particularly beneficial in the fast-paced crypto market, where just a few trades can significantly impact your portfolio.

Trading crypto shouldn’t be stressful. With Margex’s crypto price alerts, you can lock in profits when the timing is right and most rewarding.

What Makes Margex Crypto Price Alerts So Powerful?

If you’re looking for financial freedom through successful crypto trading and security, Margex crypto price alerts are the best choice.

For starters, this cryptocurrency alerts app supports a wide range of crypto assets, including BTC, ETH, XRP, ADA, SOL, and BNB, as well as USDT, USDC, DOGE, TON, SHIB, NEAR, STX, AAVE, ATOM, and more.

Then, there’s the variety of criteria you can set alerts for. Besides the most obvious—price—you can also set alerts for a cryptocurrency’s market cap, volume (which comes in handy in determining the trend), and gas fees to make the most of the market conditions.

But that’s not all; ease of use is another big advantage of Margex. You don’t need any special skills to use the tool. In just a few steps and within a matter of a couple of minutes, you can set up your alerts on Margex.

In addition to its user-friendliness and customizability, the crypto trading platform offers deep liquidity for making quick, large-volume trades efficiently and top-notch security to protect your funds, giving you peace of mind. 

Why Must Traders Use Margex Crypto Price Alerts?

For a crypto trader or investor, it’s important to stay on top of key market movements. But, constantly monitoring charts is simply not feasible. By customizing price or volume levels for a specific coin, you can receive timely notifications when your target is hit.

This allows you to make swift trading decisions, which is particularly significant in the crypto space, where prices change rapidly within a very brief period. You can also adjust your strategies accordingly, ensuring you never miss a market opportunity. The alert tool from Margex optimizes your trading performance and boosts your profit potential.

With Margex’s price alert feature, you can choose to receive alerts only once or every time the target is reached. You can also set it to go off at any hour, day or night. It’s all up to you to decide when and at what frequency you want to receive the email notification.

Take advantage of the Margex cryptocurrency price alert tool to manage your risk, save time and costs, and be at the top of your game. Just make sure to use price alerts wisely for the best results. 

How to Get Started with Margex Crypto Price Alerts?

Now, to start using the Margex cryptocurrency alerts app, here’s a step-by-step guide that you can follow:

Step 1: Search Your Desired Cryptocurrency

Go to the Margex platform and locate the alert feature. Then, use the search functionality to find the cryptocurrency that you’re interested in.

Step 2: Choose Parameters

Next, provide the target parameters for your chosen coin. Here, you have the option to receive alerts for market cap, price, volume, or ETH gas fees.

Step 3: Select Conditions

Now, choose the specific conditions for receiving alert notifications. This includes a price range or the price going above or below a particular threshold.

Step 4: Set the Price Trigger

The price trigger is the value at which the crypto price action will be activated. For instance, if you’ve set the condition for the price going above X, this is where you enter the value for X. You’ll also need to choose between USD and EUR for the exchange rate.

Step 5: Tap on “Set up”

Now that you have filled in all the details, it’s time to click on the ‘Set up’ option to get the ball rolling.  

Maximizing Crypto Profits with Margex’s Price Alerts

With crypto mania continuing to reach new heights, it’s important for crypto traders and investors to make use of tools like price alerts to make the most of the many opportunities that the crypto market has to offer. Margex’s crypto price alert tool particularly stands out for its accessibility, customizability, and security, allowing you to make informed and lucrative decisions. 

References

• Number of Cryptocurrencies 2013-2024 (Statista)
• What is Crypto Market Cap (Coinmarketcap)
• What are gas fees? (Coinbase)

The post Unlocking Profitable Trades with Margex Crypto Price Alerts appeared first on ReadWrite.

This guide explains how to buy Flockerz via the presale event. Learn how to get a presale discount and what the future holds for $FLOCK tokens.

How to Invest in Flockerz Token – Beginner’s Guide

Even the best crypto presales can be daunting for first-time buyers. Read on, we explain everything there is to know about investing in the Flockerz presale.

Step 1 – Download Best Wallet

Presale investors need a crypto wallet before getting started.

Here’s why:

• Presale payments are made on a wallet-to-wallet basis
• So, coins (e.g. ETH) are transferred to Flockerz’s wallet
• And, the purchased $FLOCK tokens are transferred back to the same wallet
• What’s more, a wallet is needed to safely store $FLOCK

Many wallets can be used for the Flockerz presale, but our top pick is Best Wallet. It’s a non-custodial wallet app for Android and iOS. Users have full control over their private keys, which are encrypted on the smartphone device. Secure access is granted via a PIN and/or biometrics, not to mention 2FA.

If you need a new crypto wallet, Best Wallet is free to download. Just visit the Best Wallet website and click on the iOS/Android logo. Open the app and follow the on-screen instructions to get the wallet set up.

Step 2 – Buy Some Crypto 

We’ve established that presale investments require crypto coins. Flockerz accepts ETH, USDT, and BNB. Any one of these coins can be added to Best Wallet. Just click the coin’s name and copy the unique wallet address displayed. Then transfer the coins from an external location (e.g. an exchange.).

You can also buy coins without leaving the Best Wallet app. This is a simple and convenient way to fund the wallet balance. Best Wallet accepts multiple payment methods, including Visa and MasterCard. Some ID will be needed, as per KYC requirements.

Step 3 – Connect Best Wallet to the Flockerz Token Presale 

You should now have ETH, USDT, or BNB coins stored in Best Wallet. Next, visit the Flockerz presale website.

Click ‘Connect Wallet’ and choose ‘Best Wallet’. Open the Best Wallet app and confirm the connection. This means Best Wallet is now securely connected to the presale dashboard.

Step 4 – Decide How Much to Invest in Flockerz 

Even the best cryptocurrencies come with high risk and uncertainty. These risks are amplified when investing in new meme coins like Flockerz. Therefore, consider the investment budget before proceeding.

Only consider investing amounts you’re comfortable losing. And never invest the entire portfolio in Flockerz. Instead, ensure the portfolio is diversified with lots of different cryptocurrencies, and perhaps, other asset classes too.

Once determined, complete the Flockerz presale form. Choose the investment coin from ETH, USDT, or BNB. Type in the number of coins to exchange for $FLOCK. We’ve typed in 0.04 ETH. The receiving amount automatically updates to 18,219 $FLOCK tokens. This is based on the current presale price.

Step 5 – Confirm Flockerz Investment 

A notification will appear from the Best Wallet app. This will ask you to review the presale transaction and confirm everything is correct.

This is required before the transaction is authorized, meaning the coins are sent to the Flockerz wallet. And that’s it; you’ve completed the presale investment.

What Is Flockerz?

Flockerz is a new meme coin that operates on the Ethereum blockchain. It’s a presale project, meaning it doesn’t trade on exchanges yet. This will happen after the presale ends. Flockerz has a unique use case; it has developed a vote-to-earn tool for token holders.

All holders of $FLOCK are members of The Flock, a DAO (Decentralized Autonomous Organization). This means they have a say in how the project is run, from marketing and listing applications to community-run events.

And, when voting in proposal decisions, holders earn voting rewards. These are paid in $FLOCK tokens, with 25% of the total supply allocated.

Flockerz also offers rewards via its generous staking framework. This is also available to presale buyers, with staking APYs currently at 7,480%. Crucially, investing in the Flockerz presale offers a first-mover advantage. Early buyers get the lowest rate and the highest staking payouts.

Reasons Why Flockerz Is a Strong Buy

These are some of the reasons why Flockerz could be one of the best new cryptocurrencies:

• Unique Meme Coin: Millions of meme coins are listed on exchanges. Most have no use cases or a unique value proposition. This is where Flockerz stands out. Its vote-to-earn mechanism is revolutionary. This means $FLOCK is truly a community-run meme project, unlike its competitors. This will help Flockerz stand out in this overcrowded market.
• Presale Discount: The Flockerz presale has 50 stages, with each selling 48 million $FLOCK tokens. Each stage increases the presale price. This means the earlier the investment the lower the cost basis. For instance, the current price is $0.0056785. The final presale stage will be priced at $0.00668830. That’s a 17% upside for those investing today.
• Presale Discount: 20% of the $FLOCK supply will be made available to presale buyers. The total funding target is approximately $14.5 million. This means the maximum market capitalization once $FLOCK is listed on exchanges is just $73 million. This offers unprecedented upside potential, especially considering the 2024 meme coin rally.
• Passive Rewards: $FLOCK is also one of the best meme coins for earning passive rewards. It enables holders to stake $FLOCK at huge APYs, with the current rate at 7,480%. This is in addition to the vote-to-earn framework, which also rewards holders.
• Audited Contract: Flockerz has had its smart contract audited by two leading security firms; SolidProof and Coinsult. This ensures integrity and legitimacy. It also protects presale buyers from scams, such as rug pulls and token dumps. The audit also verifies the stated token supply.

The Verdict

In summary, Flockerz will appeal to speculative traders searching for the next big meme coin. It’s currently in presale, with the lowest price available to early investors. The project’s unique offering is its vote-to-earn framework, which rewards holders when voting on key proposals.

The Flockerz presale accepts ETH, USDT, and BNB. Ensure adequate research is conducted before proceeding, considering the added risks that crypto presales invite

FAQs

The post How to Buy Flockerz Token ($FLOCK) – Detailed Guide appeared first on ReadWrite.

By now, you’ve probably seen the term RWA, but what is RWA in crypto? RWA stands for real-world assets and provides a way to tokenize financial assets or tangible assets on the blockchain. Some examples include BlackRock’s BUIDL fund, which uses the Ethereum blockchain to tokenize US treasuries or even real estate owned by thousands of token holders.

One promise of RWAs is to make fractional ownership easier to access, with transfers, yields, and rights documented on the blockchain. However, RWAs can take several forms, ranging from a fixed number of tokens circulating to a single NFT representing ownership of a home or car. RWAs make traditionally illiquid assets tradable, digitize asset management, and allow anyone to participate in markets usually reserved for high-net-worth investors.

Let’s learn how RWAs work and what the future holds for this new wave of digital assets.

Why do People Invest in RWAs?

Transparency and global reach are two key reasons why people invest in RWAs. Assets managed on a blockchain offer the ability to see where and when tokens are transferred as well as view positions in real time. Ultimately, RWAs also offer a much broader audience, spanning the entire world.

Several big names in traditional finance have placed their bets on tokenized assets, including BlackRock and Franklin Templeton, giving the fledgling RWA sector more than $5.65 billion in total locked value (TVL). BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) reached over $500 million in its first four months. However, BUIDL focuses on qualified investors, whereas funds like Blockchain Capital (BCAP) and Arca US Treasuries Fund (RCOIN) are open to retail investors.

Most Prominent RWA Assets on the Market

Gold and Treasury-backed tokens dominate the RWA market. As the market matures, the number and types of assets are expected to grow. Leaders in the space include MakerDAO, Tether Gold, and Ondo. MakerDAO alone boasts more than $1.1 billion in total value locked, although RWAs are limited to 25% of the protocol’s total collateral. Single-asset RWAs like Tether Gold boast as much as $620 million in TVL.

MakerDAO (MKR)

MakerDAO uses RWAs as part of the collateral for the DAI stablecoin, a token pegged to the value of the US dollar through over-collateralization. Maker added RWA to its portfolio, boosting the investment by $1 billion in 2024. Although the MKR token has seen a recent slump alongside the broader market, those who invested investors prior to Maker’s addition of treasuries in 2023 saw significant gains.

Up to 25% of the collateral held by MakerDao can be held in RWAs, with asset types divided into four categories.

Tether Gold (XAUt)

Due to its scarcity, gold has been used as money throughout history. Tether Gold now offers its XAUt backed by physical gold. Holdings can be redeemed for real gold and delivered to any Swiss location. Although Tether holds a significant amount of treasuries and Bitcoin, a detailed whitepaper explains the utility of gold-backed tokens compared to Bitcoin and traditional currencies.

Real gold comes with certain challenges, including storage, transport, and divisibility. Tokenized gold, however, allows you to take your gold’s value with you anywhere in the world, secured by your crypto wallet. You can also trade your XAUt tokens at any time on crypto exchanges that support the token.

Ondo Finance (ONDO)

Ondo combines tokenized assets with decentralized finance tools to put your RWA tokens to work. The ecosystem is governed by Know Your Customer (KYC) regulations. New buyers must complete identity verification. Purchases are also limited to accredited investors and qualified purchasers. Ondo’s yield-bearing USDY token currently pays 5.35% APY, and its OUSG token backed by US treasury bonds pays a 5.18% APY yield. US residents are restricted from the USDY token.

BlackRock BUIDL (BUIDL)

Similar to Ondo, BlackRock’s BlackRock USD Institutional Digital Liquidity (BUIDL) token uses US treasuries to back the token and utilizes ONDO as a provider. Investors can view all fund transactions on the Ethereum blockchain using Etherscan or a similar blockchain explorer. At press time, BUIDL’s market capitalization topped $500 billion.

Paxos Gold (PAXG)

The PAXG token mirrors the goals of Tether Gold, giving investors another way to invest in tokenized real-world assets. The Paxos token offers lower management fees than Gold ETFs and physical delivery options from secure vaults in London. Each token equals one troy ounce of gold.

Why Is Real-World Asset Tokenization Useful?

RWAs offer utility in several ways, including increased liquidity for financial assets and physical assets. For example, Tether Gold (XAUt) is one of the leading RWA tokens and allows people anywhere in the world to buy a gold-backed token on nearly 20 crypto exchanges.

These tokens can then be used in other ways, such as collateral for trades or lending markets. XAUt’s popularity has grown alongside its market cap, now approaching $700 million.

Investing in assets like physical gold can be cumbersome and inefficient. Spot prices may not reflect real acquisition costs, and secure storage becomes a concern or often an additional expense. The same market inefficiencies exist when selling. Tokens like XAUt offer an easy and transparent way to invest in physical assets without slippage challenges or storage issues.

As the RWA market evolves, more commodities may become tradable as tokens. Many RWAs are available to investors worldwide. XAUt launched on centralized exchanges but is also available through decentralized exchanges (DEXs) like Uniswap. As the market grows, the most popular RWA tokens will be tradable on DEXs or can be used as collateral in decentralized finance (DeFi) applications like lending markets. The token maintains its peg to physical gold because investors can redeem XAUt for physical gold.

RWAs can also tokenize real estate or other assets that have value but aren’t easy to trade. Tokens like XAUt make real-world assets divisible, allowing easy sales and transfers and the ability to trade 24/7.

Challenges of Real-World Asset Tokenization

RWAs still face some challenges in several areas, ranging from standards to regulation. Certain types of assets may still be gated communities, whereas others trade freely worldwide. BlackRock’s BUIDL, for example, isn’t available on exchanges and limits access to qualified investors.

Standards for Valuations

RWAs are still searching for a reliable way to match token values to real-world markets. Tether’s XAUt maintains a close peg to gold by offering redemptions in physical gold. However, real estate RWAs, for example, can’t be redeemed in the same way. Market capitalization for tokens representing real estate or similar assets could decouple from the real-world value.

Governance & Centralization

The current structure of RWAs places governance in the hands of off-chain custodians. While this aids regulatory compliance, it also prevents true decentralization. As a result, some RWA tokens don’t offer much functional advantage over traditional financial assets managed by firms and documented on paper and in databases.

Regulation

Due to their focus on assets that appreciate or bear yields, many RWAs will face regulatory hurdles with government agencies like the Securities and Exchange Commission (SEC). Arguably, many would be securities as defined by the Securities Act of 1933, and few would pass the Howey Test, which is the current method of determining whether an asset is a security. By contrast, a fair-launch, decentralized digital asset like Bitcoin is not a security subject to SEC regulation.

Thin Liquidity and Limited Markets

Tether’s XAUt isn’t available on Coinbase or Binance, two of the largest crypto exchanges. Trading markets are limited to smaller exchanges, and liquidity remains thin. The highest 24-hour trading volume among the exchanges that offer Tether Gold is $1.5 million, with most exchanges seeing less than $10,000 in daily volume. XAUt is one of the largest RWA tokens, but the liquidity remains thin.

Scams and Hacks

As RWAs launch, expect copycat tokens with the same ticker symbol. We found several listings for the BUIDL ticker on Uniswap, many of which were labeled as BlackRock’s token. However, only one of these tokens had the correct contract address, and there were no pools for the correct token contract. Investors could easily purchase a scam token instead of the RWA token.

Scams aside, RWAs face similar challenges to those seen with any smart contract or token. Code is written by humans and could have bugs or vulnerabilities. Hacks and glitches represent a risk in both traditional finance and digital assets. However, an RWA token or contract with vulnerabilities could cause a domino effect if the token is deployed across multiple protocols, possibly toppling other assets as we saw in 2022 with the Luna-led crypto crash.

RWA and DeFi

Tokenized real-world assets promise to bring the liquidity of traditional financial markets to the blockchain. For the most part, cryptocurrencies are contained ecosystems. While cross-chain tools exist, there isn’t yet a standard way to access the value of traditional financial assets on the blockchain. In the next section, we’ll discuss oracles, which may provide the key to accurate asset values for RWAs on the blockchain.

Once standards emerge, tokenized real-world assets may change the scope of decentralized finance (DeFi) forever. For example, in the current DeFi landscape, you might use ETH as collateral to borrow USDC, which you can then deploy in other areas while still holding your ETH. Tokenized RWAs open the possibility of borrowing against tokenized securities or real estate, potentially bringing massive amounts of liquidity to lending and swap protocols.

Conclusion

So, what is RWA in crypto? RWA stands for real-world assets, with real-world assets in crypto referring to tokenized versions of assets like bonds or gold. However, the market may evolve to provide tokenized versions of other assets, such as commodities, real estate, and much more.

RWAs allow greater accessibility and divisibility. They also promise to bring massive amounts of liquidity on-chain that had been isolated to traditional markets. Oracle providers like Chainlink will bring off-chain data to RWA protocols as standards emerge, allowing token values to align with real-world market values.

FAQs

What does RWA mean in crypto?

RWA stands for Real World Assets. RWA in crypto refers to tokenized versions of physical assets or financial assets, such as gold or treasuries.

Which RWA token is best?

Tether Gold offers one of the best examples of a successful RWA token. Currently, the XAUt enjoys a market capitalization of more than $600 million.

What are the pros of RWA?

RWAs offer a way to bring the value of real-world assets onto the blockchain and provide a way to access the value of less liquid assets and make real-world assets divisible. This allows people worldwide to buy asset-backed tokens for gold or other assets.

What are the cons of RWA?

Some RWA tokens are only available to accredited investors or may not be available in specific regions. This reflects some of the regulatory challenges RWAs face in countries like the US, where they may be labeled as securities in some cases.

Are real-world assets in crypto a good investment?

Real-world assets in crypto can be good investments if you’re bullish on the underlying asset. For example, if you plan to invest in gold, for example, an RWA token like Paxos or Tether Gold offers an easier way to do so compared to buying physical gold.

References

• NFT-Linked House Sells for $650K in Propy’s First US Sale (yahoo.com)
• RWA TVL Rankings (defillama.com)
• Real-World Assets (RWA) (makerdao.com)
• BlackRock USD Institutional Digital Liquidity Fund (BUIDL) (etherscan.io)
• SECURITIES ACT OF 1933 (govinfo.gov)
• Framework for “Investment Contract” Analysis of Digital Assets (sec.gov)
• Explainer: What makes a crypto asset a security in the US? (reuters.com)
• What Really Happened To LUNA Crypto? (forbes.com)
• Real-World Assets (RWAs) Explained (chain.link)

The post What Is Real-World Asset (RWA) Tokenization? appeared first on ReadWrite.

This guide ranks and reviews the 12 best cold wallets for security, user-friendliness, reputation, supported coins, and other important factors. Read on to choose the right cold wallet for your crypto storage requirements.

Detailed Reviews of the Best Crypto Hardware Wallets

We’ll now take a closer look at top cold wallets for crypto. Read on to make an informed decision.

 1. Cypherock X1 – The Overall Best Cold Crypto Wallet for 2024 

• Price: $159
• Supported Coins: 9,000+ crypto assets
• Storage Capacity: 1 MB
• Staking: ✅ (Staking can be done through third-party connections)
• Mobile App: TBA

We rate Cypherock X1 as the overall best option for cold wallet storage. The self-custody hardware wallet was developed by leading crypto startup Cypherock, which raised $1 million to create the uniquely designed X1 Vault and X1 Cards. This crypto cold wallet supports over 9,000 digital assets and can store up to 4 existing seed phrases.

Cypherock’s EAL6+ certified Secure Element (SE) chip ensures users’ crypto holdings are protected with one of the highest levels of security in the industry. Each X1 card is backed by this bank-grade security chip, making it just as safe as the top credit cards. Additionally, X1 cards send data through NFC with end-to-end encryption for safer transfers.

The Cypherock X1 comes bundled with the X1 Vault device, four X1 cards, and a hard protective case. Each can be purchased separately. Cypherock offers a one-year warranty for its crypto wallet, and the X1 cards are designed to last at least 20 years. Using Shamir Secret Sharing, the Cypherock X1 securely decentralizes crypto keys, making it an ideal hardware wallet for both new and seasoned crypto enthusiasts.

Use promo code “coldwallet” to get 17% off on the Cypherock X1.

2. Ledger Stax – Premium Hardware Wallet With 3.7-inch Touchscreen and NFT Support

• Price: $399
• Supported Coins: 500+
• Storage Capacity: 2 MB
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Ledger Stax is the latest and most advanced model from Ledger; an established wallet provider with over 5 million customers. The premium hardware wallet comes as a credit-card-sized device with a 3.7-inch touchscreen. This provides a great user experience, especially when setting up transactions.

The touchscreen aspect also enables users to check their portfolios seamlessly. Ledger Stax also offers rock-solid security features. Users must enter a PIN via the device when verifying outgoing transfers. It is always storing private keys offline; transactions are signed via Bluetooth or a USB-C cable. Users also receive a 24-word passphrase, enabling recovery from any device.

Ledger Stax supports over 500 crypto assets, including BTC, SOL, ETH, BNB, and XRP. Custom tokens and NFTs can also be added. Ledger Live, the wallet’s application for desktops and mobiles, supports staking and crypto swaps. Ledger Stax can also be connected to hot wallets without exposing its private keys. The wallet costs $399, including shipping.

3. Ellipal Titan 2.0 – Air-Gapped Security Features With Unlimited Crypto Storage 

• Price: $169
• Supported Coins: 40+ blockchains and 10,000+ tokens
• Storage Capacity: Unlimited
• Staking: ✅ (APYs of up to 10%)
• Mobile App: ✅

Voted the best crypto cold wallet for 2024 by Forbes, Ellipal Titan 2.0 is another great option. Its core security feature is air-gapped technology. This means outgoing transactions don’t require Bluetooth, USB cables, or other network connections. Instead, transfers are signed by scanning a unique QR code.

This is displayed on the Ellipal Titan 2.0 device, and scanned from its iOS/Android app. For additional security, the device comes with an in-built camera. This scans a QR code generated by the app, ensuring remote hacks are virtually impossible. The wallet is also protected by a PIN, password, and backup passphrase.

Ellipal Titan 2.0 supports over 40 blockchain standards, including some of the best altcoins. This includes ETH, BCH, LTC, BNB, SOL, and XRP. Custom tokens and NFTs on the Ethereum and Solana standards are also supported. Best of all, there are no storage limits, making it a great choice for diversified portfolios. The Ellipal Titan 2.0 retails for $169.

4. Trezor One – Trusted Hardware Wallet Available for Just $59  

• Price: $59
• Supported Coins: 1,000+ coins and tokens
• Storage Capacity: Not stated
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Trezor One is a budget-friendly yet highly secure cold wallet. It retails for just $59, making it one of the most affordable options in the market. Trezor One, which comes as a small two-button device, is open-source. This is a huge deal breaker for many crypto investors, considering its underlying code is open to public scrutiny.

Users must enter a PIN when confirming transactions, executed via a USB-C cable. That said, unlike most cold wallets, Trezor One doesn’t support Bluetooth. Nonetheless, over 1,000 cryptocurrencies are supported, including BTC, ETH, USDT, BNB, DOGE, MATIC, and AVAX. There are, however, some notable exceptions, including SOL and ADA.

Trezor also offers native applications for desktops and mobiles. Not only for sending and receiving coins but also for accessing staking and crypto swaps. iOS, however, only supports view-only mode. This will be a major drawback for some users. Moreover, unlike other Trezor models, the One comes without a Certified Chip EAL6+.

5. Ledger Flex – Pocked-Sized Cold Wallet With an E Ink Touchscreen  

• Price: $249
• Supported Coins: 500+
• Storage Capacity: 2 MB
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Ledger Flex is also one of the best cold wallets in the market. It offers security features and specifications similar to those of Stax. Albeit, with a slightly smaller screen and lower cost price – with Flex retailing for $249. Ledger Flex comes with a 2.84-inch E Ink touchscreen. This is large enough for most users and still offers a solid experience.

Users can seamlessly approve funds and view portfolio balances without needing the Ledger Live application. What’s more, Ledger Flex supports NFT visualizations. This can also be used as the device’s lock screen image. However, unlike the Stax, Ledger Flex doesn’t support wireless Qi charging.

That said, this premium feature won’t be a dealbreaker for most users. Outgoing transactions can be verified via Bluetooth or a USB-C cable. This is in addition to a PIN, selected by the user when getting started. The secret phrase comes as 24 randomly generated words. Over 500 cryptocurrencies are supported and staking and crypto swaps are available via Ledger Live.

6. Tangem – Slick Cold Wallet With an EAL6+ Certified Chip, Never Been Hacked

• Price: $54.90 for 2-card set, $69.90 for 3-card set
• Supported Coins: Thousands of cryptos
• Storage Capacity: N/A
• Staking: ✅
• Mobile App: ✅

Tangem is a new cold wallet that provides complete autonomy when trading thousands of cryptos with just a simple tap. It provides up to three wallet cards – which are as slim as a bank card, and as secure as a bank vault. 

Each wallet card contains a powerful EAL6+ certified chip – the highest chip security standard, protecting it from invasive and non-invasive attacks. The card’s chip automatically generates a private key which is never exposed. 

Notably, out of the 2 million Tangem Wallets created, not a single one has ever been hacked. This is also down to Tangem’s dual security provision – offering biometric security along with passcode protection. 

To conduct transactions, users can simply tap their card on their phones. Through the Tangem app – one can buy, sell, swap, and stake thousands of digital assets. The app also provides users with insights into valuable data that help drive smarter decisions and analyze market trends. To learn more about this hardware wallet, check out our Tangem Wallet review.

Interested users can buy the 2-card set for $54.90, or opt for the 3-card set which costs $69.90. Use our link below to get a 10% discount on your purchase. 

7. Trezor T – Affordable Cold Storage Solutions for Diversified Portfolios   

• Price: $149
• Supported Coins: 1,000+ coins and tokens
• Storage Capacity: Not stated
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Retailing for just $149, Trezor T is another budget-friendly cold wallet. This is a great option for those with diversified portfolios across multiple chains. It supports over 1,000 cryptocurrencies, including BTC, DOGE, SHIB, AVAX, LINK, BCH, XLM, CRO, APE, ARB, and EOS. And, unlike the Trezor One, there’s also support for SOL and ADA.

What’s more, users can add custom tokens on multiple blockchain standards. This is ideal for storing high-risk high-reward cryptocurrencies with micro-cap valuations. Users simply need to paste the token’s contract address and the balance will be displayed immediately. Trezor T also connects to popular hot wallets like MetaMask and MyEtherWallet.

This is a good solution when holding cryptocurrencies that aren’t initially supported. Or when connecting to decentralized applications. In terms of specifications, Trezor T comes with a 1.54-inch color LCD touchscreen. Transfers are signed via a USB-C cable. There’s no support for Bluetooth or air-gapped technology.

8. Blockstream Jade – Top-Rated Bitcoin Hardware Wallet With an In-Built Camera   

• Price: $64.99
• Supported Coins: Bitcoin
• Storage Capacity: 4 MB
• Staking: ❌
• Mobile App: ✅

Blockstream Jade is a highly-rated cold wallet designed exclusively for Bitcoin. It doesn’t support altcoins, so another option will need to be considered when storing altcoins. Nonetheless, Blockstream Jade retails for just $64.99 and it comes packed with advanced security features. This includes air-gapped technology.

Meaning – the wallet is never exposed to the internet, let alone Bluetooth and other network connections. Blockstream Jade has an in-built camera. This is used to scan a unique QR code when funds. The QR code is generated by the Blockchain Green app, supporting iOS and Android devices.

Blockstream Jade also offers open-source code and users can choose from a 12 or 24-word backup passphrase. Available in multiple colors – those based in the US will receive their device in 3-7 business days. However, international shipments can take up to 4 weeks. Shipping fees are calculated during the checkout process.

9. Ngrave – Premium Crypto and NFT Cold Wallet With a 4-Inch Touchscreen    

• Price: $398
• Supported Coins: 3,500+ coins and tokens
• Storage Capacity: Unlimited
• Staking: ❌
• Mobile App: ✅

Ngrave is a premium crypto wallet offering cold storage solutions. It supports more than 3,500 coins and tokens, including some of the best cryptocurrencies to buy. This covers everything from BTC, DOGE, and SAND to BNB, SOL, and MATIC. Users can create up to 100 wallet accounts, streamlining the portfolio-building process.

Ngrave also supports NFTs, although only those on the Ethereum standard. Nevertheless, Ngrave is another option that comes with air-gapped security. The in-built camera scans a QR code when signing transactions. This is generated on the mobile app after setting up the transfer.

The Ngrave wallet – which has received EAL7 certification, is also ideal for beginners. It offers a 4-inch color touchscreen, making it seamless to view transaction details and existing balances. However, there are some drawbacks. It retails for $398, making it one of the most expensive in the market. What’s more, Ngrave doesn’t support staking.

10. Coldcard – Secure Bitcoin Wallet With an In-Built Keyboard for Transaction Signing    

• Price: $219.99
• Supported Coins: Bitcoin
• Storage Capacity: Unlimited
• Staking: ❌
• Mobile App: ❌

Coldcard claims to be the most secure cold wallet in the industry. It comes as a calculator-style device with a 3.2-inch LCD screen. Not to mention a fully-fledged keyboard and air-gapped technology. This makes transaction signing super-secure. The keyboard can also be used to enter the 24-word backup passphrase.

Coldcard also supports the BIP39 passphrase, allowing users to choose the 25th word. However, this cold wallet might not be suitable for active traders. This is because it doesn’t come with a native application. Meaning – users must connect Coldcard with a hot wallet like Electrum whenever sending and receiving funds.

Users can then scan the generated QR code with the in-built camera. Do note that Coldcard only supports Bitcoin, so altcoins must be stored in another wallet. Moreover, the wallet costs $219.99, which might be too pricey for budget-conscious users. Coldcard also frequently uses technical language, making it more suitable for seasoned pros.

11. Safepal S1 Pro – Combine Cold Storage With a Fully-Fledged Crypto Debit Card    

• Price: $89.99
• Supported Coins: 100+ blockchains
• Storage Capacity: Unlimited
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Safepal S1 Pro is one of the best options for combining cold storage solutions with active spending. It comes with a crypto-backed debit card issued by Visa. This enables users to spend balances in the real world without exposing their private keys. What’s more, transactions go through the Arbitrum network, ensuring cost-effective fees.

Those using the Safepal card earn crypto rewards on eligible purchases. Rewards can also be earned when staking cryptocurrencies. Safepal S1 Pro is also highly secure. It offers 100% air-gapped transactions via QR scanning. This is facilitated by an in-built camera and the Safepal app.

Safepal S1 Pro is also great for building diversified crypto portfolios. It supports over 100 blockchain networks, including Bitcoin, Ethereum, and Solana. Custom tokens can also be added and there is unlimited storage capacity. Safepal S1 Pro retails for an affordable $89.99. Cheaper models are also available, albeit, with fewer features.

12. Bitbox – A Great Wallet Option When Engaging With Decentralized Applications    

• Price: $166
• Supported Coins: 9 blockchain standards + ERC Tokens
• Storage Capacity: 16 GB
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅ (Android only)

Last on this list of cold wallets is Bitbox. This open-source wallet comes as a USB-C device. It has tiny specifications of just 54.5 x 25.4 x 9.6 mm, making it a solid choice for frequent travelers. What’s more, it has a storage capacity of 16 GB and a dual-chip design for enhanced security.

We found that Bitbox is also a top option for those wishing to engage with Web 3.0 products. It connects with all Ethereum-based applications, including NFT marketplaces and decentralized exchanges. Connections are made via WalletConnect, ensuring the private keys never leave the device.

Bitbox is also EVM-compatible, meaning it supports Polygon, BNB Chain, Arbitrum, Optimism, and Fantom. However, custom tokens can only be added when using the ERC-20 standard. In terms of pricing, Bitbox retails for $166. However, do note that one-on-one support costs $110, which will be a major drawback for most users.

What Is a Cold Wallet: The Basics

Put simply, cold wallets store cryptocurrencies without exposing private keys to the internet. Unlike hot wallets, this ensures remote hacks are avoided. Crucially, most cold wallets come as a hardware device. A PIN is typically entered on the device when signing transactions. This means only the wallet holder can authorize movements.

Some cold storage wallets take things one step further via air-gapped security. Not only does this avoid live internet servers but also other connection types, such as Bluetooth and USB-C cables. Instead, transactions are confirmed by scanning a QR code via the wallet’s in-built camera. Either way, cold wallets are a must-have when holding large amounts of crypto.

They’re the safest and most secure storage method available. Importantly, recovery is still possible if the device is lost, damaged, or stolen. This is because cold wallets come with a backup passphrase, which only the user has access to. However, cold wallets aren’t free, with most retailing for over $100.

While some people use hot wallets for short-term trading, a cold wallet is always better for holding crypto long term.

A Closer Look at How Hardware Wallets Work

Read on for a more detailed explanation of how hardware wallets work, and why they’re a must-have for most crypto investors.

Cold Storage

The main premise of hardware wallets is that they offer cold storage. As we’ve established, this means the wallet is never connected to the internet. This safeguard protects investors from online threats, such as hacks, viruses, and malware. The private keys – which provide remote access to the wallet’s contents – are encrypted on a hardware device.

So that begs the question; if hardware wallets can’t connect to the internet, how are transactions processed?

In some cases, hardware wallets use Bluetooth or a USB-C cable. This coincides with a PIN function. The user chooses a PIN when setting the wallet up, and it must be entered on the device whenever transfers are requested. Put otherwise, funds can’t leave the wallet without having physical access to the device.

The best hardware wallets offer air-gapped security. This increases security, as Bluetooth and USB-C connections aren’t completely risk-free. Air-gapped wallets usually come with an in-built camera. This is used to scan a QR code, generated from the wallet’s native app. This is considered the most secure way to authorize transactions.

Backup Passphrase

Beginners might be concerned about relying solely on a hardware device when storing cryptocurrencies. After all, the device could be lost, stolen, or damaged. The wallet’s contents can be recovered in all instances via the backup passphrase.

This is provided when setting up the wallet and it’s often 12 or 24 words. It’s imperative that the backup passphrase is written down in the correct order, stored somewhere safe, and never shared with anyone. Crucially, it provides immediate access to the wallet from any location.

Here’s how it works:

• Let’s say you lose the hardware device
• You immediately download a free software wallet (e.g. MetaMask)
• When opening the application, elect to restore a wallet from another location
• You’ll then be asked for the backup passphrase
• Once entered, the cryptocurrencies stored in the hardware wallet can be accessed from the software wallet
• You can keep them there or transfer them to another hardware device

The backup passphrase is also needed if you forget the wallet’s PIN. This can be entered directly on the device, meaning you won’t need to download a software wallet.

Key Advantages of Cold Storage Crypto Wallets

The key benefits of cold wallets are summarized below:

• Self-Custody: Cold wallets offer self-custody storage. Only the wallet owner can access its private keys and thus – authorize transactions. This ensures investors truly own the cryptocurrencies they buy.
• Avoid Internet Threats: Hot wallets are prone to internet hacks and other crypto scams. This isn’t the case with cold wallets, considering they’re never exposed to live servers. Instead, transactions are signed offline via Bluetooth, USB-C cables, or QR scanning.
• Easy Recovery: Hardware wallets can be lost, stolen, or damaged, like any other device type. Fortunately, recovery is seamless. Users can regain access to their cryptocurrencies from any device by entering their backup passphrase.
• Multi-Asset Storage: The best crypto cold wallets support multiple blockchain networks. This often includes Bitcoin, Solana, Ethereum, BNB Chain, and XRP. As such, investors can store their entire crypto portfolios in one safe place.
• Highly Transportable: Another benefit is that hardware wallets are highly transportable. They come as a small, pocket-sized device, often appearing like a USB stick or calculator.
• Partially Anonymous: Hardware wallets are partially anonymous, which will be a benefit for some investors. Incoming and outgoing transactions are tied to blockchain addresses rather than the user’s identity. However, do remember that shipping details and payment details must be provided when ordering a device.

Our Methodology When Picking the Best Cold Wallets

Picking the best cold wallets was no easy feat, considering the number of options available. We created a methodology when ranking the top providers.

Here’s a summary of our key research methods:

• Robust Security and Non-Custodianship: Security is the key reason to purchase a cold storage wallet. Therefore, we only considered wallets with robust safety features. This is in addition to non-custodianship, ensuring only the wallet owner has access to the private keys.
• Price: Cold wallets come at a cost, so we ensured that all budgets were covered. The cheapest option is Trezor One at $59. At the other end of the scale is Ledger Stax, retailing for $399.
• Supported Coins: We prioritized cold wallets supporting a wide selection of coins. This allows users to store all of their cryptocurrencies in one place. Custom tokens should also be supported.
• Compatibility: Most cold wallets develop a native application. This is needed when setting up outgoing transfers or portfolio management tools. We assessed which devices and operating systems the application supports.
• Shipping: Shipping fees and times were also included in our research methods. Providers were prioritized when offering fast shipment times with reasonable fees.
• Additional Features: The best cold wallets support additional features, such as staking, crypto swaps, and fiat purchases. These features should be highly accessible, user-friendly, and come with competitive fees.

Difference Between Cold Wallets and Hot Wallets

Both cold and hot wallets have a purpose in the crypto ecosystem. Understanding the benefits and drawbacks of each is imperative.

The table below highlights the key differences between cold and hot wallets:

Conclusion

In summary, long-term investors, or those holding large balances, should store cryptocurrencies in a cold wallet. Doing so offers the highest level of security and protection against online hackers.

While our overall top pick is Cypherock X1, as it offers institutional-grade security via NFC-powered X1 cards and a smooth yet highly safe user experience, everyone’s needs are different, and only you can decide what device suits you best. However, we are sure that you will find a great match for your needs within this list.

FAQs

The post 12 Best Cold Wallets for 2024 – Safest Cold Wallets Compared appeared first on ReadWrite.

The Margex crypto trading platform is quickly becoming one of the leading destinations for crypto traders across the globe. The platform offers perpetual futures trading for top cryptocurrencies like BTC and ETH as well as support for 48 other crypto assets. Available leverage of up to 100x and an easy-to-use trading interface help make Margex a top pick.

In this Margex review, we take the trading platform for a spin, sharing the pros and cons we find along the way. We’ll also review the mobile app, highlighting features and testing usability. Let’s get started.

Pros & Cons of Margex

No trading platform is perfect, and that’s also true of Margex. However, we found more pros than cons in our testing. For example, signup took mere seconds. By comparison, similar platforms often take 10 minutes to days in some cases. A simple futures-only interface also makes Margex much easier to navigate than full-featured platforms like Binance.

While the platform is impressive, there are some drawbacks, however. For instance, Margex doesn’t support traders in the US and several other countries. It’s also better suited to larger trades due to the minimum withdrawal limits. More on that in a bit.

What is Margex?

Margex is a perpetual futures exchange founded in 2019 that supports trading for 50 crypto trading pairs with leverage of up to 100x as well as forex trading. The platform was built for speed and boasts a 100,000 transaction per second capacity. Margex’s worldwide popularity provides a deep $50 million order book to ensure liquidity, enabling efficient trades.

The company is headquartered in Seychelles, a common crypto-friendly location for growth-minded exchanges.

Perpetual futures let you bet on the price direction of a cryptocurrency and keep the position open indefinitely. Leverage means using a collateral asset to make larger trades. For example, a $100 trade with 100X leverage lets you control a $10,000 position. Margex focuses exclusively on this market and does not support spot trading. Additionally, the platform supports most of the leading cryptocurrencies for perpetual futures, including BTC, ETH, and even some meme coins, such as PEPE and FLOKI.

Our Methodology for Reviewing Margex

For our Margex review, we used the platform to make trades and evaluate the user experience. We also looked for answers to new users’ questions, such as bonuses and how they can be used. While this Margex review focuses on the web app, we also tested the mobile app evaluating many of the same criteria. Our reviews draw from a wealth of experience and we present our unbiased opinion. We share the good, as well as areas in which Margex can improve from a user perspective.

Features of the platform we evaluated include the following:

• Trading pairs
• Available leverage by pair
• Trading and carrying fees
• Overall user experience
• Supported payment methods
• Withdrawal time
• Customer support
• Wallet and security

We also evaluated Margex as compared to similar trading platforms, meaning platforms focused on perpetual futures trading.

Which Cryptos Does Margex Offer?

As expected, Margex supports perpetual swaps for top-tier cryptos like BTC and ETH. However, you’ll also find a wide range of other assets, including some top meme coins like PEPE, BONK, and FLOKI. Margex’s selection of perpetual contracts far exceeds those found on Coinbase, for example, which only offers six cryptocurrencies in its perpetual futures.

Margex offers fewer futures trading options than larger platforms like Binance, which offers more than 600 futures markets, including delivery futures. On the other hand, Margex provides a much cleaner interface if the coins you want to trade are supported.

Margex Supported Trading Pairs / Max Leverage

Max leverage varies by asset, with blue-chip cryptocurrencies like BTC and ETH supporting up to 100x leverage. Assets with more price volatility and lower liquidity have lower leverage limits, such as FLOKI, which only supports up to 15% leverage.

Margex’s Top Features

The Margex platform centers on a handful of key features, clearing the clutter often found on busier, full-featured platforms like Binance.

Copy Trading

If you’re a newer trader or just don’t have time to watch the tick-by-tick chart movements, copy trading might be the solution for you. Copy trading lets you follow the moves of successful traders on the platform, some of which boast a truly impressive return on equity.

Margex uses a system they call Smart Follow, which allows followers’ trades to occur simultaneously with the trader (called a manager) you choose to follow. This no-lag measure levels the playing field for followers, making them more like coincident traders.

Copy trading comes with no additional upfront fees. However, the manager and copy trading platform earn a percentage of the revenue from the trade. You just choose a fund manager to follow and allocate a trading balance to that trader. Each trade uses a specific base currency.

Leverage Trades

All trades on Margex use leverage. While the maximum leverage varies by asset (15x up to 100x), the minimum you can choose is 5%. Newer traders may wish to favor the lower end of this scale to preserve trading capital. Higher leverage trades run the risk of liquidation during daily volatility. Be sure to check the slider. We found the default leverage for cross-margin trades at 60% for BTC and ETH.

Staking

Margex also offers staking for key cryptocurrencies like BTC, ETH, and stablecoins. The platform’s extensive help pages explain that staking puts your crypto to work in a mix of centralized finance (CeFi) and decentralized finance (DeFi) applications, including proof-of-stake protocols and yield farming. Yields range from 4% to 5% APY.

Margex doesn’t elaborate on how BTC (which doesn’t support proof of stake) is used but offers a nebulous “Other” category for staking, which may or may not refer to lending. We reached out through chat but didn’t get a clear answer regarding BTC specifically, although our chat agent was very responsive.

While yields from Margex staking are solid, you may find better opportunities on your own, particularly for Ethereum staking and stablecoins.

Demo Account

The Margex demo didn’t work during our review testing. While you can find a link to the live demo on the Margex homepage, we were prompted for a login, which took us back to live trades requiring real crypto as collateral. This feature may or may not work if you choose to test it yourself at a later date.

However, we did find a promo code for $100 in Airdrop USDT (AUSDT), which allowed us to make risk-free trades. This airdropped balance was much easier to access on mobile.

Margex Fees & Commissions

The fees for trading on Margex compare well with those on other platforms. The platform charges two types of fees: trading fees that follow a fixed schedule and variable funding fees.

• Trading fees: Trading fees on Margex are either 0.06% for market orders or 0.019% for limit orders. In both cases, trading fees are based on the size of the leveraged trade. As these trades can be considerably larger than the margin you offer up for the trade, competitive fees are important
• Funding fees: Funding fees vary based on the ratio of short sellers to long trades on the platform. Every eight hours, Margex charges a funding fee to traders on one side of the trade to help keep contract prices close to market prices. Trades held beyond the cutoff times of 00:00, 08:00, and 16:00 UTC are subject to funding fees.

Trading fees for maker orders are competitive with Binance and a bit cheaper, assuming you don’t pay Binance fees with BNB to earn an additional discount.

• Margex Maker (Limit) Orders: 0.019%
• Binance Maker (Limit) Orders: 0.020%

A $50,000 limit-order trade using $1,000 worth of crypto as collateral with 50x leverage would cost $9.50 in trading fees. By comparison, the same trade on Binance would cost $10.00. The seemingly small difference in fees can add up quickly for frequent traders and high-value trades.

Taker orders, also called market orders, execute at market prices and cost more on most platforms.

• Margex Taker (Market) Orders: 0.060%
• Binance Taker (Market) Orders: 0.050%

Market orders are costlier on Margex compared to Binance. The same $50,000 trade would cost $30, whereas the trade costs $25 on Binance. The Binance platform also offers additional discounts based on the 30-day trading volume and the amount of BNB you hold on the platform.

However, fee comparisons should also consider Margex bonuses. New users receive generous bonuses, a percentage of which are automatically applied to trading fees on the platform. This subsidizes trading costs until the bonuses are depleted. We’ll cover bonuses in more detail in a later section. Margex also stands at the top of our list of best crypto affiliate programs, enabling you to monetize your audience with high commissions.

User Experience on Margex

Overall, we found the user experience on Margex to be pleasant, with a clean trading UI lending itself to fast, error-free trades.

Account settings and additional features like copy trading are all within easy reach on both the web app and mobile, making navigation a breeze. In the few instances in which we had a question, Margex’s Help Center and Live Chat proved to be valuable research and got us back to trading in seconds.

Bonuses make the platform fun to use (everyone likes free crypto) and help cut trading fees down to size when making larger leverage trades. Additionally, newbie-friendly features like training videos make it a breeze for new users to get started. As a caveat, take advantage of the tutorials if you’re new to leverage trading. Leverage can wreak havoc on your portfolio if not used carefully in volatile markets.

Margex Wallet

Assets you hold on the platform are stored in Margex Wallet. This dashboard provides an overview of your holdings as well as tools to stake specific assets to earn a yield.

While the wallet supports staking, staking is subject to minimums and availability. For example, while you can stake Bitcoin to earn 4%, the staking pool was full when we tried to use it. Check back frequently for availability. ETH staking requires a minimum of 0.1 ETH.

Staking on Margex does not require lock-up periods or evident withdrawal restrictions. Additionally, staked balances can be used for the initial margin in a trade.

Margex staking is currently available for two cryptocurrencies:

• BTC: 4% APY
• ETH: 5% APY

In addition, Margex offers a 5% yield on USDC and USDT. However, we only saw this offer on the mobile app, which we’ll discuss next.

Does Margex Have a Mobile App?

The Margex app lets you access most of the features available on the desktop browser app. A handful of features aren’t directly supported in the app; instead, tapping these buttons opens a mobile browser.

Much like the desktop experience, Margex delivers a clean user interface well-suited for new and experienced traders. Upon opening the app, you’re greeted with a welcome screen linking to a beginner’s tutorial.

A single click takes users to the app’s main features, including prominent buttons for deposits, buying crypto, copy trading, and staking. Trading pairs appear below in a scrollable list. One more tap takes you to the trading screen.

Arguably, Margex’s mobile app is even easier to use than the desktop web app. Tradeoffs include smaller charts (although mobile charts can use full-screen) with fewer technical indicators. Certain features, such as stablecoin staking, open in a separate browser.

We experienced some lag on the mobile app at times, during which the trade button became a spinning circle. Closing the app remedied the issue.

Margex’s Accepted Payment Methods

Margex doesn’t support direct purchases of spot crypto. Instead, it offers third-party providers who can automatically deposit the crypto you purchase into your Margex trading account.

When purchasing crypto through a third-party provider, you’ll need to make a $10 minimum deposit; fees vary depending on the provider you choose. All providers support Visa and MasterCard purchases. However, Change Now offers a wider range of payment options, including SEPA, Revolut, Swift, and FasterPay.

Payment Providers

Be aware that not all cryptocurrencies supported by Margex are available from all providers. For example, we could not purchase Kaspa from any of the three providers. This means that Kaspa trades on the platform must use cross margin unless you can send Kaspa acquired elsewhere.

• Change Now: Visa, Mastercard, SEPA, Apple Pay, Google Pay, Revolut, Swift, FasterPay
• Changelly: Visa, Mastercard, Google Pay
• Uniramp: Visa, Mastercard, Apple Pay, Google Pay, Cash App

Crypto Deposits

Likely the preferred funding method for most traders, Margex offers broad support for crypto deposits. For example, you can send BTC or ETH to your account from a self-custody crypto wallet by withdrawing from another exchange. The process is straightforward and relatively fast, although deposited funds become available after a specific number of blockchain confirmations, which varies by asset.

We found Ethereum deposits a bit confusing because the option was labeled as ERC-20 rather than Ethereum. However, Ethereum chain deposits do support ERC-20 coins like USDC.

Withdrawals

Margex doesn’t directly support cash withdrawals to a bank account. However, third-party payment providers allow you to convert your crypto to cash and send it to your bank account in supported regions.

Crypto withdrawals to a self-custody wallet provide the best withdrawal method. Margex does not charge a withdrawal fee. Network fees apply, however.

Crypto withdrawals are sent from a cold wallet once per day at approximately 13:00 UTC. To make a withdrawal, Margex requires a PIN code, which they send by email.

Margex Account Types

Margex only offers one type of account: standard.

All trades on the platform require leverage, with the lowest leverage allowed being 5x using isolated margin. Cross-margin trades are limited to maximum leverage for the trading pair. Cross-margin trades use eligible assets as trade collateral, whereas isolated margin uses just balance for the asset you’re trading.

While Margex only offers one type of account, if you choose to use copy trading, your balances are split between your main account and copy trading account.

Margex Bonuses & Promos

Sign-up bonuses act as a discount on trading fees. When you sign up for Margex, you’ll receive BTC and ETH bonuses automatically. Several other types of crypto bonuses are available to claim, adding about $1,800 to our account balance in total.

However, these bonuses are automatically applied to trading fees and funding fee for trades and can’t be withdrawn. Think of it as a low-cost way to get started. Bonuses balances automatically pay up to 50% of trading fees.

Margex also provides a $100 one-time deposit bonus. First, make a qualifying deposit, and then Margex automatically provides a $100 equivalent in the deposited token. Unlike

In addition to new account bonuses, Margex also offers referral bonuses for sending new users to the platform. This is a link that you can share on social media or elsewhere. When someone uses your referral link to sign up for Margex, you’ll earn a percentage of the fees generated by the new user. Currently, Margex pays 40% as a referral bonus.

Is Margex Safe?

Generally speaking, Margex provides good security options. However, the exchange isn’t licensed by any notable licensing authorities. Crypto is largely unregulated, so this isn’t uncommon.

Licensing

Margex is headquartered in Seychelles. However, we were unable to find a registration with the Financial Services Authority of Seychelles. We also didn’t find any regulatory listing on Margex’s website. While regulatory oversight doesn’t guarantee safety on crypto trading platforms, users should consider the potential risk before investing. Crypto exchanges have been known to close their doors suddenly.

Security

Account security offers many of the protections traders expect. At a basic level, you account is secured by a email adress and password. However, Margex also offers two-factor authentication (2FA) using an authenticator app like Google Authenticator. The mobile app for Android or iOS also supports face ID or fingerprint login.

Withdrawals require a PIN code sent by email.

Fund Protection

Margex uses cold storage for balances held on the platform, meaning the wallet keys are stored offline. This measure helps protect user funds but also delays withdrawals, which occur once daily.

Margex Customer Support & Service

Nearly every question you might have is covered in Margex’s extensive Help Center. In addition, a chat icon found on both the web app and mobile app puts answers to top questions at your fingertips. If your specific question isn’t among the FAQ topics, a live agent answers quickly. We used this feature a few time, finding the live agent to be responsive and friendly. Chat history is saved across devices, making it easy to resume the conversation on other devices.

Margex scores comparatively well based on user reviews on Trustpilot, where the exchange earns a 3.7 out of 5-star score. By comparison, some well-known exchanges, such as Coinbase and Kraken, earn considerably lower Trustpilot scores.

How to Open a Margex Account

Opening an account with Margex is a simple process. Initial signup took mere seconds.

• Step 1: Visit the Margex website and tap the Sign Up button.
• Step 2: Provide your email address and choose a secure password.
• Step 3: Check your email for a confirmation.
  Enable 2FA. Go to any trading screen and tap on the account icon to view settings and enable 2FA.
• Step 4: Make a deposit. You can either purchase crypto through one of Margex’s partners or deposit crypto you already own directly into your Margex Wallet.
• Step 5: Claim your bonuses. Deposit bonuses are automatically applied. However, most sign-up bonuses require a button tap to claim.

Conclusion

Margex has quickly become a top destination for crypto traders worldwide. The platform’s popularity benefits from fast signups without identity verification, an award-winning interface, and generous bonuses. With 50 trading pairs, all major market categories are well represented, with leverage trading limits of up to 100x. Both mobile and desktop users are well-supported, and the Help Center and Live Chat provide fast answers to most of the questions users might have.

Overall, we enjoyed using Margex, and the low trading fees for limit orders will keep us coming back for more when there’s a good trade to be had.

FAQs

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If you are looking for a KYC-free exchange to trade a wide range of crypto assets at competitive fees while enjoying various rewards and bonuses, then this Zoomex review is just for you!

Zoomex Exchange – Pros & Cons

In the world of crypto exchanges, Zoomex stands out with its regulated yet KYC-free platform. This setup allows traders to invest in a wide range of altcoins with solid Zoomex exchange liquidity and high leverage, enabling them to take advantage of varied and lucrative market narratives. Moreover, Zoomex offers the convenience of copy trading, enabling users to replicate the strategies of skilled traders with just a click or through a customizable option.

Beyond its user-friendliness, Zoomex distinguishes itself with enticing rewards, including airdrops, giveaways, competitions, and games, making trading on it both a lucrative and worthwhile experience. While simplicity makes it a great choice for beginners, Zoomex could benefit by working on adding features like staking, direct fiat onboarding, and trading bots to enhance the trading experience further.

Our Methodology for Reviewing Zoomex

When reviewing crypto exchanges, we maintain the highest standards of quality by analyzing each platform based on various factors, including compliance, features, costs, user-friendliness, customer support, and security. Our team of experts further takes an unbiased approach to assessing and testing these platforms to offer updated and actionable insights so that our readers can make informed decisions and have the best possible experience.

Zoomex’s Key Features

Now, let’s take a look at the unique Zoomex features that make it worth your time.

Trade Both Spot and Futures Markets

Now, in this Zoomex futures cryptocurrency exchange review, we’ll start with its trading capabilities. On Zoomex, you can trade both spot and futures markets. This dual offering allows you to shield your capital from sudden, significant market movements or dial up the leverage and maximize your profit potential.

Speaking of leverage, Zoomex lets you ramp it up to an impressive 150x—though not for all cryptocurrencies. The leverage varies by asset, which makes sense as trading already highly volatile meme coins or lesser-known coins on such high leverage is a sure-shot way to end up with nothing.

Zoomex also boasts solid liquidity, with daily trading volumes of $1.65 billion and $2.66 billion in the spot and futures markets, respectively. This deep Zoomex liquidity stems from the platform’s seasoned team, whose expertise in market-making (MM) capabilities ensures a smooth and efficient trading experience.

The spread on Zoomex is also pretty tight with the difference between the bid and ask price extremely small. This means you can execute your trades quickly and at desired prices.

Now, if we look at the crypto selection, Zoomex’s newly launched spot market offers significantly fewer cryptocurrencies for trading compared to its futures market. While over 300 perpetual contracts are offered in derivatives, only about 65 crypto assets are available for spot trading.

There’s another feature we would like to point out here. In the derivatives market, Zoomex also offers inverse perpetuals, which, unlike USDT contracts, are traded and settled with the underlying asset. Hence, traders are extremely susceptible to market fluctuations, which boost both profit and losses. This is why Zoomex only offers inverse perpetuals for BTC, ETH, XRP, and EOS, with leverage caps of 100x for BTC and ETH and 50x for EOS and XRP.

Complete Anonymity Guaranteed

If you value your privacy and have been looking for a platform that doesn’t require your full background information, your search ends right here. In the decentralized and permissionless world of crypto, which is full of crypto exchanges insisting on full-fledged Know-Your-Customer (KYC) verification, Zoomex emerges as a breath of fresh air.

With no need for KYC verification, Zoomex ensures user anonymity and maintains the privacy and security of your data. Such a feature provides both new and experienced traders with peace of mind, sparing them from a complex and lengthy verification process.

Identity verification is only necessary if you need to significantly increase your withdrawal limit, which is already high. For the average user not dealing with sums like 100 BTC—equivalent to about $6.5 million—there’s rarely a need for a KYC update.

However, Zoomex’s lack of KYC requirements doesn’t compromise its commitment to regulatory compliance. The exchange maintains strict security measures and adheres to regulatory standards, boasting an impeccable security record with no incidents reported to date.

Copy Trading to Learn, Earn, & Perform Better

As the name suggests, copy trading allows you to mimic the trades of other traders with positive track records. This feature enables you to replicate the success of more skilled traders. It’s not just about making profitable trades; beginners can also use copy trading to learn from the experience of veteran traders.

On Zoomex, you’ll find a vast number of professional traders—hundreds, in fact—to choose from. Selection can be based on different factors, including weekly win rate, profit over the last seven days, and weekly followers’ profit gain.

For each trader available for copying, Zoomex provides a detailed profile of their trading performance. This includes cumulative gain, total gain for followers, number of profits and losses, number of followers, contracts with orders, and more. Graphical representations make it easy to assess how effectively a trader is performing.

Once you’ve chosen a trader whose metrics appeal to you, it takes just a click to start following them and replicate their success to make profitable trades yourself. Besides the one-click follow option, which copies everything from trade direction, trading pair, leverage, stop loss, take profit, and more, you also have the option to customize. With customization, you can set your own parameters, including leverage and margin.

This feature is available without needing KYC and applies to all USDT futures trading pairs. However, leverage is capped at 30x, and the maximum allowable amount is $50,000. The fees are the same as those applied to futures trading.

While we’ve discussed the benefits of the copy trading feature for those looking to emulate successful traders, what about the skilled traders themselves? If you possess trading expertise and want to earn up to 10% of the profits made by someone who follows and copy-trades you, you can apply to become a trader on Zoomex. Simply create a profile, detail your trading strategy, and start trading—and earning—daily.

Rewards & Bonuses Offered

Now, let’s explore Zoomex’s enticing rewards. This crypto exchange provides earning opportunities through two main avenues: its gaming center and conventional promotional campaigns.

In the Gaming section, you have three exciting options. There’s an online multiplayer crypto game called “To The Moon,” which offers thrills and excitement; a “Treasure Hunt” with entry barriers as low as 1 USDT and rewards up to 0.1 BTC; and a “Lucky Draw” with a maximum prize of 1,000 USDT.

Zoomex also runs various promotional campaigns, including welcome bonuses, global trading competitions (ZWTC), and special events tied to major sports events like the Olympics, World Cup, and Euro Cup. While these promotions are similar to those offered by competitors, Zoomex stands out by offering additional exciting giveaways, such as Tesla cars and signed athlete jerseys.

For new users, Zoomex’s Rewards Hub provides a comprehensive view of the tasks they must complete to claim their exclusive rewards. These tasks primarily revolve around achieving a certain trading volume.

Another highlight of Zoomex is its VIP Club. To access benefits such as reduced fees, 24/7 exclusive customer service, exciting monthly bonus rewards, custom gifts, event invitations, and ultra-high wealth management returns, you can become a VIP by surpassing a certain monthly trading volume and providing your social media accounts. Interestingly, if you hold VIP status on other exchanges and can prove it, Zoomex will automatically upgrade your VIP level on its platform.

Zoomex also features a Whale Affiliate Program, which offers affiliates special token allocations, airdrops, networking opportunities, and dedicated support. Additionally, there’s a referral program that allows you to earn up to $300 by inviting friends, though certain conditions apply. So, make sure to read the terms of not just this promotion but all the campaigns carefully before participating.

Which Cryptos Does Zoomex Offer?

Given that it’s a crypto exchange, we must look into the range of crypto assets available for trading on this platform.

Now, in this Zoomex spot crypto exchange review, we will look at its spot market. Zoomex offers a relatively limited selection, with about 65 cryptocurrencies available. This is modest compared to major crypto market providers like Binance, Coinbase, and Bybit, which list hundreds of coins. Despite this, Zoomex’s offerings include majors, meme coins, and DeFi tokens, such as BTC, ETH, SOL, DOGE, PEPE, ARKM, ONDO, ARB, BRETT, BLUR, BNB, CAKE, ENS, MEME, PEOPLE, PLANET, SUSHIS, SHIB, WIF, ZRO, WOO, and WLD. It’s important to note that the spot market at Zoomex is a new feature, so the smaller number of listings is understandable.

In contrast, the futures market on Zoomex is more robust, supporting over 300 perpetual contracts. This allows you to long and short a wide variety of altcoins with leverage. Beyond BTC and ETH, available options include SOL, DOP, ORDI, TON, WLD, NEAR, TRB, XEM, INJ, ONDO, TIA, KAS, LINK, FTM, ADA, MATIC, JUP, JTO, STX, LDO, POLYX, JOE, RENDER, SUI, RADIUM, BLAST, and ETHFI. This diversity enables Zoomex users to capitalize on various market narratives, ensuring they don’t miss out on potential opportunities.

In its futures coin collection, Zoomex stands out for its eclectic mix of meme coin choices. You can not only trade oldies like DOGE and SHIB but also popular newbies like PEPE, POPCAT, WIF, BONK, MOG, MEW, and NOT. The platform also supports a variety of other meme coins, including RATS, BRETT, FLOKI, BANANA, BEER, GME, and many more, providing a broad spectrum in this category.

Zoomex’s expansive futures coin selection holds its own against competitors like Binance, OKX, and KuCoin, but it still pales against Bybit and MEXC, which are more aggressive in listing new coins. Nonetheless, Zoomex is proactive in adding new coins and does an effective job of covering altcoins, especially trending and low-cap meme coins. Truth be told, retail is far more interested in meme coins, so you’ll get plenty of action.

Understanding Zoomex’s Fees

Starting with the basics, Zoomex implements trading fees structured around maker and taker fees. Maker fees are charged when you place limit orders that add liquidity to the market, and taker fees apply when orders are filled instantly, thereby removing liquidity.

For spot market trades, Zoomex charges a flat rate of 0.1% for both maker and taker fees. In the futures market, the fees differ slightly: the maker fee is set at 0.02%, and the taker fee is 0.06% for traders with a monthly trading volume under $5 million.

These rates align with industry standards, similar to what platforms like Binance and OKX charge, though Zoomex fees generally decrease as trading volumes increase.

For Zoomex VIP members, the fees are even more competitive. At VIP level 1, the taker fee is reduced by 40% to 0.036% and 0.033% at VIP level 2. For those trading exceptionally high volumes—greater than $30 million a month—both maker and taker fees are halved to 0.01% and 0.03%, respectively. At the highest tier, VIP level 5, which requires a trading volume of at least $100 million, maker fees are slashed by 90%.

Zoomex’s funding rates are 0.01% on BTC/USDT futures at the time of writing. This rate matches that of Binance, while it is slightly lower than rates offered by other platforms: 0.0036% on OKX, 0.0040% on Bybit, and 0.0112% on BingX, according to data from Coinglass.

Now, let’s look into non-trading fees. As is the norm in the industry, there are no fees applied by Zoomex on deposits. However, the platform uses third-party providers like OnlinePay, Onramper, LegendTrading, Onramp, and TransG for Express. While these third-party providers enable Zoomex to support bank transfer, Wire, ACH, Visa, Mastercard, Google Pay, Apple Pay, Topper, MoonPay, and Alchemy Pay to offer fiat-crypto service, these providers charge hefty fees.

Now, fees to withdraw crypto depend on the network. However, on Zoomex, you’ll find these fees to be higher than on other platforms, which is due to the exchange charging a fixed fee. Zoomex sets its miner fees a bit high to ensure faster withdrawals. And no, you can’t yet fix withdrawal fees as you like, for now. The exchange is actually considering making this option available sometime in the future.

What Puts Zoomex in a League of its Own?

For starters, Zoomex’s native token introduction was strategically timed to bolster the platform’s growth and innovation. Rather than launching it early, Zoomex opted to establish and expand its platform first. This year, users will have the opportunity to discover and trade with the new token, aligning its release with a more mature ecosystem.

Now, here’s how Zoomex compares to other popular options:

What’s the User Experience Like?

When it comes to user experience, Zoomex has received positive feedback for its competitive fee structure, applicable to both trading and non-trading activities. Users also appreciate the high-leverage options available.

However, Zoomex’s generous rewards are what make it a favorite among its users. The platform notably offers a $45,115 USDT reward for new users and consistently runs attractive campaigns and competitions. Despite this, there have been concerns regarding the distribution of these rewards, which Zoomex needs to address. Additionally, users have expressed a desire for features like staking services, NFT support, and automated trading bots. Incorporating these could further enhance the platform’s offerings.

Zoomex Mobile App

Zoomex has made its mobile app available for both Android and Apple devices, which can be downloaded from Google Play and the App Store, respectively. This mobile support enables you to trade from anywhere at any time.

The app features a clean and intuitive interface, making it easy for beginners to get started. By maintaining a straightforward layout and limiting functionalities to the essentials, novice traders will find the app user-friendly and easy to navigate—unlike many popular crypto exchange apps that can be overwhelming.

Much like its desktop counterpart, the Zoomex app offers a fast and reliable trading experience with minimal lag and high-speed order execution, ensuring that you can capitalize on market opportunities efficiently.

Is Zoomex Secure?

While conducting our Zoomex review 2024, we found that it is a regulated crypto exchange holding a Canada MSB license from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Additionally, the exchange has applied for further licenses in various countries to bolster its compliance.

For asset protection, Zoomex ensures a secure trading environment equipped with top-tier security systems certified by blockchain security auditor Hacken. The platform also supports two-factor authentication (2FA), enabling users to enhance the security of their accounts.

The exchange regularly updates its security measures to guard against attacks and uses multi-sig cold wallets to protect user funds securely. According to Zoomex’s website, VIP status holders benefit from 100% loss compensation in the event of any incidents on the platform.

Zoomex Customer Service

If you encounter any issues, Zoomex provides multilingual, 24/7 customer support. You can reach customer service via live chat or by emailing support@zoomex.com. Additionally, there are social media channels for support, including X, Telegram, and Discord.

For general inquiries, Zoomex has a Help Center where you can find answers related to trading and account management. The website and FAQ section are accessible in eight languages: English, Spanish, Russian, Korean, Japanese, German, Chinese, and Vietnamese.

If you have feedback about Zoomex, be sure to share it with the exchange. Zoomex’s customer-centric approach ensures that user suggestions and complaints are addressed promptly.

How to Get Started With Zoomex

First, visit the Zoomex website and click on the “sign up” button located at the top right corner of the page.

You can begin creating your account by using your email address or mobile number and setting a strong password. Next, enter the verification code that you receive via email or SMS. Alternatively, you can sign up using your Google or Apple account.

In just a couple of steps, you should be ready to start trading your favorite cryptocurrencies within minutes.

The registration process on the Zoomex app is equally straightforward and quick. First, download and install the app. Then, open it and select ‘Assets’ from the bottom right corner. Begin creating your account by entering your email ID or phone number, country code, and a strong password. Input the verification code you receive, and you’re all set. Now, you can start trading immediately.

Our Verdict on Zoomex

Zoomex is a global crypto exchange designed to cultivate a stable and secure investment environment for users worldwide. With a user-centric approach, Zoomex has developed both a spot and futures exchange, enabling trading in an extensive range of cryptocurrencies at fees competitive with leading firms. This ensures that users never miss an opportunity and can amplify their profits effectively.

Offering a comprehensive suite of products and services, Zoomex equips its users with robust market-making capabilities, options to buy crypto with fiat, a native token, USDT, and inverse perpetual contracts, and copy trading. Additionally, Zoomex provides lucrative reward opportunities, including treasure hunts, lucky draws, futures trading challenges, referral and affiliate programs, and exclusive VIP rewards, all designed to help users boost their capital, increase profits, and grow their wealth.

So, start your crypto trading journey by signing up on Zoomex today!

FAQs

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