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  • Phemex Exchange Review

    Phemex Exchange Review

    Phemex is a professional-grade Cryptocurrency exchange offering both Bitcoin spot and options trading. The exchange offers an innovative zero-fee trading model where fees are not charged per transaction. Phemex also offers Bitcoin, Ethereum, and Chainlink Perpetual futures. The exchange is built by ex-Morgan Stanley executives, aiming at providing institutional-grade trading tools and security. Derivatives trading allows traders to increase their exposure to certain assets and the ability to “short”.

    Phemex Exchange Review

    Key Features of Phemex

    • Free trades on Spot Exchange (Premium account)
    • Institutional grade trading and security
    • Robust trading insurance
    • Free deposit fees
    • Ability to Leverage up to 100X margin

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    Phemex Spot Exchange & Free trades

    One of the key advantages of Phemex exchange is the ability to have free zero fee trades. This concept is groundbreaking for the cryptocurrency exchange industry because the previous model charged trading fees for both buying and selling crypto. These fees would add up over time, with many traders paying thousands of dollars to cryptocurrency exchanges. With Phemex, these traders can take advantage of the zero fee trading model and only pay a monthly premium of $9.99 USD per month. This is a huge game changer for cryptocurrency daytraders and technical analysts.

    Phemex is also offering a US$6,050 sign up bonus, as well as 2 BTC and 10,000 USDT in trial funds! Sign up here.

    I think that this is a trend and responsibility of exchange is to reduce fees for small capital users And, for the institutional clients, they willing to pay more fees, but to have a better service, like data-wise, analysis wise, right? So that’s two different groups. So we, and we announced our zero fee permission, they just to benefit our retail customers.

    Jack Tao, CEO of Phemex

    Bitcoin Perpetual Futures

    The core trading product offered by Phemex is cryptocurrency derivatives trading such as Bitcoin Perpetual Futures. Derivatives are financial tools that derive value from the underlying product – in this case cryptocurrencies such as Bitcoin. Phemexexchange trades contracts based on the underlying asset instead of the asset themselves – this allows higher leverage and more types of products. Phemexallows up to a 101X max leverage on derivative products. This means a 1% change in the price of Bitcoin could result in 100% change in the funding amount – potentially allowing traders to double or nothing on the exchange. This type of leverage is popularized by the BitMEX exchange which also allows 100X leverage.

    Supported Countries

    Phemex exchange does not offer its services to the following countries: US, UK, Canada, Cuba, Crimea, Sevastopol, Iraq, Yemen, Iran, Syria, North Korea, South Korea, Sudan, China, Hong Kong, Republic of Seychelles, and Bermuda.

    Supported Cryptocurrencies

    Phemex only 6 cryptocurrencies for the time being: Bitcoin, Ethereum, Ripple, ChainLink, Tezos, Litecoin. Though for contracts, Phemex also does offer a GOLD/USD trading pair.

    Phemex Trading take profit orders and stop-losses

    Take Profit and Stop loss triggers on Phemex

    One of the key advantages of Phemex is use of stop-loss and take profit orders. These orders allow professional traders to fine-tune their trading strategies and set up opportunities to take profit or stop-loss. By default, Phemex has quick options to take profit at 25%, 50%, 75% and 100% profit. These can be set when the initial position is established with a clear indication the mark price and estimated profit or loss. It’s important to remember that when take profit or stop losses are triggered, the position will be sold as a market order – meaning that the algorithm will automatically match a trade even if it’s not at the same price.

    Phemex Fees

    Trading Fees

    The standard contract trading fees on Phemex is set at 0.01% for makers and 0.05% for takers. Whilst standard spot trading fees are 0.1% for makers and 0.1% for takers. Phemex offers trading fee discounts for VIP users i.e. those with high trading volume on their Exchange. Users can also enjoy trading fee discounts by staking Phemex’s native $PT token in return for $vePT, enough $vePT tokens.

    There is no addition transaction fee for the exchange, so users can trade even small quantities without fear of having overwhelming fees. Taker fees are higher as the exchange promotes users to fill the order books and establish higher liquidity for the exchange.

    Phemex trading fees

    Funding fee is feature that is extremely important to take into consideration on Phemex. Funding rate is paid directly to holders of either long or short positions depending if its “negative funding” or “positive funding” rate. On Phemex, the fee is charged every 8 hours and can be negative or positive – meaning it’s possible to gain or lose money every 8 hours. If funding rate is negative, shorts holders will pay longs a percentage of their position. In the example above, the funding rate is -0.0094%, so short holders will be charged 0.0094% of their entire position. This also means that long holders will gain interest on their position.

    Click HERE to learn more about crypto funding rates and how to earn passive income from them.

    Deposit/Wtihdrawal fees

    Phemex does not charge a deposit fee, but there are minimum deposit requirements. As for withdrawals, there is also a minimum withdrawal limit and the fee charged depends on the cryptocurrency. For example, Phemex charges 0.0005 BTC for BTC withdrawals, and 1 USDT for USDT withdrawals.

    Deposit/withdrawal fees on Phemex
    Deposit/withdrawal fees on Phemex

    Find out more about Phemex’s fees and conditions.

    What is the Phemex Token ($PT)?

    Phemex has a utility token known as Phemex Token ($PT). $PT gives holders various benefits including staking yields, trading fee discounts, VIP privileges, cashback airdrops, DAO governance, as well as launchpad and launchpool access. Phemex Token cab be purchased on the Exchange, and it can be staked to obtain Vote Escrow PT ($vePT). $vePT grants exclusive voting rights in the PhemexDAO, staking yields and buy crypto airdrops privilege.

    Payment methods

    Phemex only accepts the following cryptocurrency deposits onto the Exchange: Bitcoin, Ethereum, ChainLink, Tether and Ripple. Due to the Exchange not having any KYC procedures in place, traditional payment methods such as credit or debit cards and PayPal are not accepted.

    Sub-accounts feature

    Phemex sub accounts

    Phemex offers an easy method to create sub-accounts – each with their own individual account balances and permissions. This feature allows traders to isolate their different trading strategies from each other – as it is possible to set a limited balance to each sub-account. Balance can be transferred freely between the accounts via the sub-account system. Traders can create new accounts for each new strategy they want to test out. In addition, sub-accounts can be used for trading bots – so automated trading can be done within controlled limits.

    Is Phemex Exchange Safe?

    Phemex has never been the subject of a significant hack. They also have the following practices to keep user funds safe:

    • Cold wallets: Phemex assigns separate cold wallet deposit addresses to each user and keeps 100% of user funds in reserve. It also uses offline signature and Merkle-tree Proof-of-Reserves so users can see where their funds are in Phemex’s system.
    • Risk controls: Phemex uses a two-factor authentication mechanism, an anti-phishing code, and a double-entry bookkeeping system to protect user accounts from tampering and malicious actions.
    • Firewall and network management: Phemex deploys its system on the AWS Cloud and uses several firewalls to separate different zones and machines for different trading purposes. It also applies restrictions on system and instance accessibility.
    • Trading platform:Phemex uses C++ engines that are fast, reliable, and customized to provide high performance and seamless disaster recovery for 24×7 trading.

    Phemex Team

    The core of Phemex team is comprised of ex-Morgan Stanley executives and developers. CEO Jack Tao has worked at Morgan Stanley for 11 years with experience developing Equity trading algorithms in the US. This work is pivotal to Phemex’s long term growth strategy and mission to bring professional trading tools to the cryptocurrency space.

    Phemex Core Team

    Conclusion: Phemex Exchange Pros and Cons

    Pros

    • Developed by ex-Morgan Stanley Executives
    • Industry trend-setting Zero Fee Trading
    • Sub Accounts and easy to use APIs
    • Top tier exchange and wallet security
    • No KYC for small withdraws

    Cons

    • Relatively new.
    • Regional restrictions without providing alternatives for users from those jurisdictions.
    Phemex Exchange Review

    References:

    AltcoinBuzz – Phemex Exchange Highlights.
    CoinExchangeReviews- Phemex Review

    Frequently Asked Questions (FAQs)

    Is Phemex Exchange Regulated?

    Phemex is currently looking for regulation via the Monetary Authority of Singapore (MAS) and SEBA for custody of customer assets. Similar to other derivatives exchanges such as BitMEX, PheMEX is currently not regulated.

    Is Phemex allowed in the US?

    Phemex does not offer services to the following countries: US, UK, Canada, Cuba, Crimea, Sevastopol, Iraq, Yemen, Iran, Syria, North Korea, South Korea, Sudan, China, Hong Kong, Republic of Seychelles, and Bermuda

    Does Phemex have a token?

    Phemex has a token known as Phemex Token or $PT. It is a utility token that provides benefits such as staking yields, fee discounts, and Phemex DAO governance.

    What is the difference between PT and vePT

    PT is Phemex Token, the native token of Phemex Exchange. Users stake PT in order to get vePT (vote escrow PT).

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Binance vs FTX Exchange Comparison Overview: Which is the Better Exchange?

    Binance vs FTX Exchange Comparison Overview: Which is the Better Exchange?

    Which Cryptocurrency Exchange is the “Best”?

    There is a lot to consider when it comes to cryptocurrency investment and trading, and crypto exchanges are a great way to start. It is a good platform for beginners to familiarize themselves with the market as well as for experienced traders to make use of the various products the exchanges offer.

    There are hundreds of crypto exchanges, and everyone is asking. “which crypto exchange is the best?” Everyone wants to get the best bang for their buck, whether it be low trading fees or lucrative products. We will be comparing two of the top and most talked about crypto exchanges in the world: Binance and FTX Exchange.

    FTX EXCHANGE (INCLUDING FTX INTERNATIONAL AND FTX.US) ARE NO LONGER IN OPERATION

    Both exchanges have filed for bankruptcy. Subsequently, the exchange was “hacked” and more than US$600 million worth of cryptocurrencies drained. The hacker is strongly rumoured to be a former FTX employee. For more about how this story unfolded and the latest news, check out these articles:

    What is FTX Exchange?

    Founded in 2019, FTX Exchange is a cryptocurrency trading platform that was built by Alameda Research, a quantitative trading firm that develops specialized algorithms for trading crypto. It has topped many trading charts by volume and is responsible for 30% of the market trading volume on major exchanges.

    The strong trading background of FTX shows that they live up to their claim of being an exchange “built by traders, for traders.”

    FTX is largely focused on the derivative and prediction market, offering a wide array of futures, options, and volatility products with competitive trading rates and discounts for specific users.

    FTX Exchange has been growing significantly over the past year, exploding past the likes of KuCoin and Kraken. They even managed to take market share away from Coinbase as well, which is the number one crypto exchange in the U.S. This is in part thanks to huge venture capital funding that is backing FTX.

    Check out FTX Exchange Guide for a full review and tutorial on how to use FTX Exchange. 

    What is Binance Exchange?

    Binance was founded in 2017 by Chengpeng Zhao (CZ), former Chief Technology Officer of OKCoin who has years of experience developing high-frequency trading software.

    Binance is, by a large margin, the world’s most popular cryptocurrency exchange. It has more than than $25 billion in organic trading volume per day and millions of users worldwide.

    Binance is largely focused on the spot market and has one of the most cryptocurrencies available to trade. It also has powerful trading tools such as leveraged trading, options trading and lending platform.

    For the longest time, the trading platform scene is dominated by Binance, and is held in high regard for being smart and proactive in their planning and actions, not only for themselves but also for developing the crypto industry as a whole.

    Binance has been highly active in collaborating with international regulators to support the development of a regulatory framework and policies for cryptocurrencies. In 2022, Binance as well as FTX has received regulatory approval to set up shop in Dubai and Bahrain.

    This is a significant step since it enables both exchanges to function in accordance with international standards, and meet the criteria of major regulators like the Financial Action Task Force.

    Binance vs FTX Exchange Overview

    In this section, we will take a closer look at what Binance and FTX have to offer and compare them based on these features:

    • Products
    • Supported cryptocurrencies
    • Fees
    • Security

    Products

    Binance and FTX have quite a lot of similarities based on their general offering. But the major difference is that Binance is more focused on the spot market and has more cryptocurrencies to offer, whereas FTX is more focused on the derivative and prediction market and has more volatility products. Therefore, FTX is usually seen as the preferred choice for experienced traders who want a wider (and potentially higher risk/reward) range of products.

    Both exchanges offer products that are exclusive to them. Binance offers Crypto Loans, a P2P market, and Binance Earn, while FTX offers volatility and prediction markets. The addition of FTX stocks makes it the first domestic crypto exchange to provide stocks on its platform, enabling trading of stocks and ETFs by U.S. users.

    FTX’s crypto card is exclusively accessible to US residents via the FTX US platform, whereas Binance’s crypto debit card has gained enormous popularity. While FTX places a greater emphasis on specialized trading products, Binance has more to offer in terms of their Binance Earn, allowing users to earn passive income.

    Both Binance and FTX offers a mobile app for iPhone and Android so users can trade cryptocurrencies on the go.

    Supported cryptocurrencies

    Binance has the highest number of cryptocurrencies that any exchange offers to its users. It currently has 1,300 cryptocurrencies including its own native crypto, Binance Coin (BNB).

    Learn more about Binance Coin (BNB).

    Nevertheless, FTX offers a lot of cryptocurrencies for users to trade, though not as large as Binance’s. FTX supports over 460 cryptocurrencies including its own native crypto, FTX Token (FTT).

    Both exchanges however, are consistently adding to their lists of supported cryptocurrencies, including newly launched tokens.

    Fees

    The rates on both exchanges’ spot trade markets are extremely low, and they continue to decline as volume rises. However, FTX wins out since it assesses 0.02% as a maker fee and 0.07% as a taker fee for tier one accounts.

    This is significantly lower than Binance fees, i.e. 0.1% maker and taker fee. Even after using BNB for trading fees, the user will have to pay a 0.075% fee, which is higher than FTX.

    We can see that FTX is better for trading, and is clearly a winner in this category.

    Security

    One of the most important considerations when choosing an exchange is security. It’s safe to say that Binance and FTX are two of the most secure exchanges in the world.

    Both exchanges use two factor authentication, and they store account funds and data away from online platforms so that they cannot be hacked. They also insure their funds by putting a certain amount of fee away as an insurance fraud.

    Both platforms also employ round-the-clock monitoring and analysis, and in the case of a theft, user funds are protected by the reserves that both firms have in their treasuries.

    FTX is one of the few exchanges that have never been hacked, and while Binance has seen some hacking incidents in the past, both exchanges adhere to the strictest industry security guidelines, with the majority of funds being kept in cold storage. FTX also does third party transaction audits via Chainalysis, giving them a slight edge over Binance.

    However, we must also consider the fact that Binance has been around longer and has a much larger trading volume than FTX, making them a more attractive target to hackers. But Binance has managed to hold their ground and plan for the worst, and is still one of the top performing exchanges despite the bear market.

    Conclusion

    Binance and FTX have quite a lot of similarities based on their general offering. But the major difference is that Binance is more focused on the spot market and has more cryptocurrencies to offer, whereas FTX is more focused on the derivative and prediction market and has more volatility products.

    Binance offers the most cryptocurrencies to trade including new projects such as DeFi, NFT or metaverse gaming. If you are a beginner or looking for new tokens to trade, or even an experienced investor who prefers passive earnings, Binance would be a better option for you.

    If you are an experienced trader who strictly does day trading or skilled at volatility products, FTX would be the go-to for you as it offers all the products traders need, with significantly low fees.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Bybit Exchange Review – Top Exchange Platform of 2020?

    Bybit Exchange Review – Top Exchange Platform of 2020?

    Bybit is a powerful cryptocurrency derivatives exchange suitable for many traders, with products such as Bitcoin Perpetual futures with leverage. The exchange offers the ability to Long or Short cryptocurrency assets, giving traders to profit from both the rise or fall of Bitcoin prices.

    Sign-up

    Bybit exchange is popular due to social media as it is frequently featured on different YouTube and Social Media Channels. The exchange offers generous signup bonuses and trading bonuses, enticing users to join the exchange for up to $90 in trading credit – but there is a catch. Bybit requires users to trade on the exchange where fees are based on the amount traded – hence trading fees can rack up to thousands of dollars (similar to other crypto derivatives exchanges). In this article we’ll look at what is derivatives tradings and features of Bybit to ultimately answer – is Bybit a good exchange

    Key Features

    • Leveraged Trading
    • Perpetual futures contract
    • Trading activities

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    What is Derivatives Trading

    The core trading product offered by ByBit is cryptocurrency derivatives trading. Derivatives are financial tools that derive value from the underlying product – in this case cryptocurrencies such as Bitcoin. ByBit exchange trades contracts based on the underlying asset instead of the asset themselves – this allows higher leverage and more types of products. Derivative products are by institutions, companies, miners and traders to gain advantage of market conditions. For example, Bitcoin miners who know they will receive Bitcoin in the future may choose to short Bitcoin at current prices to protect themselves from future price volatility.

    Derivative products allows traders to speculate on the future value of various digital assets and trade their corresponding futures. This is different from regular trading as there are “shorting” options where traders benefit from an asset falling in price (without initially owning the asset). Traders can also take averaged positions where they can drastically increase their exposure to an asset with 5, 10 or even 50x leverage.

    Bybit Popularity

    Bybit is the 7th most popular futures platform by volume (source: https://www.coingecko.com/en/exchanges/derivatives)

    Bybit is currently the 7th most popular derivatives platform by volume. As of the 14th of April, the exchange handles $874 Million USD per day on the platform. This is a huge amount of trade volume as users can easily trade large amounts due to leveraged assets.

    Types of Derivatives Products on ByBit:

    • Futures – Futures is a type of standardized forward contract, a legal agreement to buy or sell an asset at a predetermined price.
    • Options – Options are a special form of futures contract that gives the holder the right but not the obligation to sell at a future strike price. These are common used to protect against price volatility.

    Supported countries

    Bybit Services are not available to clients located or residing in the United States, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Antigua or Barbuda.

    Bybit Offers and Coupons

    Bybit Trading Coupons and Offers

    Bybit offers a vast amount of coupons and initial funding offers for new users. This includes a $50 dollar bonus for funding the account, along with offers for following their social media account. The exchange also offers weekly trading rewards for active traders on the exchange.

    Bybit Testnet

    You can also test transactions on the Bybit Testnet. This allows users who are unfamiliar with features to trade without using real Bitcoin.

    Bybit Controversy and Affiliate Programs

    Bybit gained notoriety due to users losing money on leveraged trades on the exchange. Leveraged trading is extremely dangerous due to the volatile nature of cryptocurrencies. It is important to remember these advanced trading tools are for advanced users only, and the risks associated with trading must be fully understood.

    Frequently Asked Questions (FAQs)

    Does Bybit Allow US traders?

    The exchange does not allow US Citizens to trade on its platform for regulatory reasons. This rule is enforced by I.P. verification, where traders with a US I.P. address will not be able to trade. It is possible to trade on the exchange without KYC (passport verification) verification.

    Does Bybit require KYC?

    Currently, Bybit does not require a passport or ID verification to trade on the exchange. There are currently no withdrawal limits. However, not completing the KYC procedures when using a cryptocurrency exchange carries risks. This is because if the exchange is hacked or it collapses, there would be no way of identifying and proving what funds you had there, which would make recovery extremely difficult, if not impossible.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • The PIT Exchange Review: Blockchain.com’s secret weapon

    The PIT Exchange Review: Blockchain.com’s secret weapon

    The PIT is a high performance cryptocurrency exchange which supports extremely high performance, security and access to a network of banks for fiat trades. The PIT is made by Blockchain.com, a cryptocurrency industry veteran who’s blockchain explorer and wallet is used by millions. To build the exchange, Blockchain.com hired trading veterans from NYSE, Google, Goldman Sachs, UBS and TD Ameritrade. The key selling point for The PIT is the efficiency and fairness of the custom “Mercury” trading engine coupled with the large 40M audience Blockchain.com already has.

    In this review we’ll take a deep dive a the trading features on the PIT, trading and withdraw fees, security and an assessment on liquidity.

     “We decided to take matters into our own hands, and built an exchange that puts users first, including the 40M wallets on our platform.”

    Peter Smith, CEO of Blockchain.com

    Buy Crypto directly with USD or EUR

    One of the biggest selling points of The PIT is the ability to buy cryptocurrencies with USD or EUR. As a regulated exchange, The PIT has bank accounts in good standing in both the US and European Union. This customers can buy Bitcoin without paying expensive credit card fees (Binance’s Credit card issuer charges 5% to buy cryptocurrencies). Being regulated also means The PIT has already obtained the necessary audits and permits necessary for operating an exchange.

    Daily Clearing to Fiat

    A big selling feature for the PIT is the daily clearing of fiat to a network of top banks in Europe and US. This drastically prevents liquidity issues when it comes to fiat, such as failures to withdraw Fiat. This feature will be most attractive to institutional investors (Supported by the PIT Pro) who need direct access to large quantities of fiat.

    About Blockchain.com

    Blockchain.com allows users to access the PIT exchange directly in their wallet.

    The PIT is created by Blockchain.com, the first company to establish a blockchain explorer for Bitcoin. Blockchain.com was launched in 2011, with the website blockchain.info and blockchain.com. In 2013, they launched a Bitcoin wallet for iOS and Android. In 2014 Blockchain.com closed the second biggest digital currency financing around of $30.5 Million fundraising from Lightspeed Venture Partners and Moasiac Ventures.

    Simple trading interface

    The PIT trading interface

    The PIT offers a simple, ease to read trading interface. Trading history, order book and price history is very cleanly presented on the trading interface. The front-end also supports a large degree of customization, allow users to use TradingView to draw patterns and trends.

    The PIT exchange fees

    The PIT charges trading fees using a tiered system based on the amount of USD traded. In the starter tier, fees start at 0.14% for makers and 0.24% for takers. Maker fees decrease substantially as trade volume increases, with the lowest maker fee at 0.02% for trade volumes above $1 Billion USD.

    TierVolume in 30 DaysMakerTaker
    1$0.00 – $99,999.99 0.14% 0.24%
    5 $2,500,000.00 – $4,999,999.99
    0.04%     		0.18%
    10$20,000,000.00 – $24,999,999.99 0.03%0.14%
    15 $1,000,000,000.00+ 0.02%0.05%

    Is The PIT secure

    Whilst the PIT is a new cryptocurrency exchange, Blockchain.com has been in the cryptocurrency industry since the beginner. Blockchain.com has been providing wallets to millions of cryptocurrency users with an excellent security record. This gives Blockchain.com a strong reputation and presence in the industry. This puts Blockchain at the top of the list for security (however, we always recommend users to take funds off exchanges for long term storage and into their own wallet, such as the Ledger Nano X).

    As an added security measure, there is an optional feature to bind The PIT account with the Blockchain mobile wallet. This will provide additional account security.

    What coins can you trade on The PIT

    Currently the PIT supports the trading of Bitcoin (BTC), Ethereum (ETH), USD, Bitcoin Cash (BCH), Stellar (XLM), Paxos Standard (PAX), Litecoin (LTC) and USDT.

    The PIT Exchange Review

    Review Score: 4.5/5

    The PIT has three major advantages – abundance of users, access to a network of bank accounts in US & EU, and long term reputation in the crypto space. Whilst 2019 saw a sudden influx of exchanges, most don’t have licenses to work with banks or passed audits. With a simple to use, yet highly customization interface, the PIT is easy to use for new traders and also feature rich for experts.

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    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.