Cryptocurrencies have enjoyed massive acceptance within just a few years of their existence. One thing that has influenced the global adoption of cryptocurrencies is how the technology behind it has helped various users across the world to seamlessly conduct financial transactions on the internet. Also, the proceeds from trading in cryptocurrencies can be surprisingly rewarding.
Also regarded as digital assets, cryptocurrencies can be described as virtual currencies developed on the security system of cryptography, which makes them very safe to hold and difficult to replicate. Major Cryptocurrencies include: Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Stellar Lumen (XLM).
As it stands, major businesses around the world are beginning to use cryptocurrencies for numerous transactions that have been previously carried out by the conventional method of payment. Major retailers and services now accept different cryptocurrencies as a means of payment.
What you should know about cryptocurrency exchanges
For most individuals, there is always the need to trade cryptocurrencies ostensibly for cash. Several platforms are available to make this trading possible, and they are referred to as cryptocurrency exchanges. Before you make a decision on the best exchange for you, there are some factors you should consider:
Firstly, you should consider choosing an exchange that will allow you to store your digital assets wherever you please. Also, you should choose an exchange promotes a transparent withdrawal process. Another important step is to choose an exchange that is clear about the type of crypto it sells and what it accepts in return. Typically, an exchange should provide this basic information on their website.
Reputation is crucial. You should assess the reputation of the exchange of your choice before you make your final decision. Be sure to consider all of the exchange’s security protocols and be wary of exaggerated reviews about them which may give overblown review of the exchange. If the exchange is hard to use, you should discard it.
Common issues associated with cryptocurrency exchanges
Like is applicable with any form of technology, there are certain drawbacks associated with using some major cryptocurrency exchanges; these include:
• Faking payment information and phishing
This issue still prevails with the conventional method of payments. Even major exchanges have been affected by this prevalent issue.
• Hacking a payment gateway
In June 2017, a popular cryptocurrency exchange was a victim of malicious attacks where hackers used social-engineering means to convince the hosting provider that they were the real domain owners. After gaining access to accounts, they started diverting cash flows.
• User address error
This is a risk that is very specific to some existing cryptocurrency exchanges. There have been reports of loss of money due to an error in the address to which money transfer is made.
• Loss of a wallet file
Cryptocurrency exchanges are always trying to combat loss or theft of a wallet.
• Unreliable ICOs
Owing to the fact that the cryptocurrency market still isn’t regulated, there is no provision in place for a risk assessment mechanism, and there is no guarantee of return on investments. Sometimes, users find insecure offerings on these exchanges and lose hard earned money.
Bityard has a major goal of “promoting research and development of significant forward-looking technology, global market expansion, and ecological construction of their brand name”. Presently, bityard allows the use of about six conventional cryptocurrencies as a method of toping up a user’s account. Bityard was developed to attend to the needs of cryptocurrency enthusiasts who are aware of the concept of contract trading and expect to use it to magnify their benefits, without unnecessary complications. Bityard always observes to the product concept of “complex contracts, simple transactions”, and intends to bring customers the supreme simple operation experience. They have also set up a highly efficient team to ensure that new users can get started with trading as soon as they sign up.
Step-by-step guide for opening an account on Bityard
Opening an account on Bityard is simple and stress free. New users can set up their accounts in less than 30 seconds following these simple steps:
• Open your browser
• Type in the official website address
• Register with your valid email address or phone number
• Viola! You are a user!
Advantages of Bityard compared to other cryptocurrency exchanges:
- Greatly reduced risk of disruption.
On Bityard, there is very little toleration for disruption of transactions. As long as users have a decent internet connection, there is no limit to the amount of transactions that can be carried out on the network.
- Authenticity and security.
Security is top priority for Bityard. Users are assured that their private information as well as their digital tokens are properly secured from third party access.
- Multiple Payment methods and low fees.
Bityard employs a flexible payment method to pay users. Also, their services are decently priced compared to what is applicable with most exchanges available.
- Supported tokens.
Regardless of your risk appetite, Bityard holds coins that are suitable for all kinds of users. As expressed earlier, Bityard allows the use of about six conventional cryptocurrencies as a method of toping up a user’s account.
- Juicy incentives on signing up
After each user registration, users can get free digital currencies including the most established ones like Bitcoin, Ethereum, EOS, Tron, and more conventional digital currencies for a value of up to 258 USDT. In addition, users are also gifted with Bityard’s first platform currency BYD.
- Community Interaction
An exchange is only as strong as its community of users. Bityard has an active community that shows the extent of their transparency with the members of the public. They are totally open about their policies and offers which is a major contributing factor to the rapidly growing community of users.
- Reliable Customer Service
For Bityard, customer is always king. They have an impressive response to the queries of users which shows their intent towards providing value. Another thing worthy of mention is the speed at which they respond which shows their thirst to serve.
Here you can take a look at explainer video:
In conclusion, although several cryptocurrency exchanges exist, these traits are rarely seen in the market which makes Bityard an exchange of choice for crypto enthusiasts all over the world.
Telegram Group: https://t.me/BityardExchange