Currency.com

Bitcoin · Feb 26, 2021, 05:05 pm

General Info
Currency.com is not only a crypto exchange, it is what they call a "tokenised securities exchange". So what is a tokenised securities exchange? Well, put simply, a tokenised security is a non-crypto asset that has been tokenised, i.e., made into a crypto. For example, at Currency.com, you can trade the tokenised shares of Tesla, Facebook, Netflix and Apple (or even share indices) without having to withdraw cryptos and convert them into fiat Currency. This can be good for you in many ways, in particular from a tax perspective.

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Currency.com is an online tokenized assets trading platform designed to make complex trading of cryptos and fiat money fast and easy. The Currency.com platform not facilitates the trading of cryptocurrencies and tokens but also other asset classes. These include some of the largest blue-chip companies, such as Apple and Amazon.com, as well as key commodities, including gold and crude oil.

As an online multi-asset class trading platform, the platform gives investors access to more than 1,500 top-traded tokenized assets, fiat money and cryptos. The platform allows investors and traders to trade directly in cryptos and to profit in cryptos, without having to exchange back into fiat Currency.

The platform ultimately bridges the emerging world of cryptocurrencies with more traditional financial assets.

It's essentially a one-stop-shop, where both novice and more experienced traders can access the broader global financial markets and cryptos on a single platform.

Launched in 2019, Currency.com is headquartered in Belarus and is regulated under the legislation of the Republic of Belarus. Since launch, Currency.com has expanded its service within the EU on behalf of DLT by GFSC.

As a fully regulated exchange, Currency.com is compliant with all AML and KYC laws.

Currency.com not only facilitates the trading of cryptos and tokenized assets but also provides leverage of up to 1:500.

Unlike many crypto market exchanges, Currency.com not only facilitates the trading of cryptos and tokenized assets but also provides leverage of up to 1:500.

On the date of last updating this review (18 January 2021), the platform had 125 tokenised Currency pairs, 15 most popular tokenised commodities, 14 tokenised indices and 1,410 equities from the United States, the United Kingdom, Germany, France, Hong Kong, Japan, Italy, Spain, Netherlands, n Federation and Canada. As for regular cryptos, you can trade nine of them here: BTC, USDT, Ethereum, Litecoin, Bitcoin Cash, Compound, Chainlink, Uniswap and Ripple.

Currency.com is from Belarus and is actually the only exchange in our Exchange List from that country. The platform is regulated by the High Technology Park of Belarus, which is a European blockchain regulator. The platform broadened their presence worldwide from 2019 to 2020, with clients from 69 countries in 2019, to 152 countries in 2020.

This exchange is not open to people from the United States of America. It is not open to people from any of the following countries either: Botswana, Bahamas, Cambodia, Ghana, Democratic People's Republic of Korea (DPRK), Ethiopia, Iran, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Yemen, Pakistan and Bermuda. If you are a resident or citizen of any of the above countries and you're looking for the trading platform that is just right for you, don't worry. Use our Exchange Finder to find an exchange accepting investors such as yourself.

Currency.com Trading View
Different exchanges have different trading views. And there is no "this overview is the best"-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at Currency.com:

We can't imagine anything that someone would feel is "missing" from this trading view, with all of its advanced functions

Leveraged Trading
At this trading platform, you can also trade with leverage. Trading with leverage means that you take positions that you would otherwise not be able to take. For instance, if you have USD 1,000 and you trade with 10x leverage, this means that you can place USD 10,000 on something. On Currency.com, you can trade with up to the following leverage levels:

Tokenised stocks: up to 20x
Crypto: up to 20x
Tokenised commodities: up to 200x
Tokenised indices (ETFs): up to 20x
Tokenisd currencies: up to 500x (!)

For ETH/USD, BTC/USD, ETH/EUR and BTC/EUR you can set a 1:50, 1:100 leverage only with a guaranteed stop-loss embedded.

It should be noted though that while leveraged trading can lead to massive returns, it can also lead to massive losses. For instance, let's say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD (without leverage), you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal).

On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, there is potential for huge upside but also for huge downside. At this specific trading platform, the risk for huge losses is limited by two things: stop-loss orders and "negative balance protection". So this does indeed provide some extra level of comfort for the leveraged traders, but there are naturally still risks involved with trading with leverage.

Currency.com Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders, and makers are the ones placing those orders. The main alternative to this is to simply charge "flat" fees. Flat fees mean that the exchange charges the taker and the maker the same fee.

Currency.com offers flat fees. The platform charges both takers and makers 0.20%. The global industry average has for a long time been around 0.25%. Many exchanges have now started reducing their trading fees even lower, but we think it's fair to say that Currency.com's trading fees still are in line with the global industry average.

With respect to the leveraged trading of cryptocurrencies, Currency.com has another fee structure. In this area, they charge takers 0.075%, whereas makers get paid to trade (meaning that their trading fee in leveraged trades are -0.025%). This is a competitive fee structure. The fees are further set out in the below fee overview:

Deposit Methods
Currency.com accepts deposits through both wire transfer and credit cards (VISA, and - since 13 June 2019 - also Mastercard). The minimum deposit amount for credit card deposits is only USD 10, BYN 25, EUR 10, or RUB 750. Many crypto investors view this as very positive of course. Seeing as Currency.com accepts deposits of fiat Currency, the exchange qualifies as a so called "entry-level exchange", at which new crypto investors can take their first steps into the exciting crypto world.

Regardless of whether you want to deposit fiat Currency or crypto, the minimum deposit is 0.002 BTC (which at the date of last updating this review, 18 January 2021, was approx. USD 72.50) or 0.03 ETH (which at the same date was approx. USD 37).

Currency.com Security
On the aspect of security, Currency.com states on its website that:

it has highly vetted employees, and every decision concerning even remotely sensitive data passes through strict approval protocol;
it stores user data in servers protected by military-grade physical security measures;
PGP/GPG is used for email verification, a discrete system for secure document upload and the highest level of global encryption that prevents tampering with any aspect of the client information and holdings. To the best of publicy available information, there is no known method which would allow an individual or group to break PGP encryption through cryptographic or computational means;
it is subject to the strictest scrutiny from the High Technology Park of Belarus; and (maybe most importantly)
it will always maintain full reserves, meaning a bank run will never occur. Your funds are stored in a bank account entirely separate from our operations account and cannot be borrowed or lent - even for margin trading - to fund operations on our platform.

The Pros and Cons
Pros
Competitively low fees: Currency.com charges competitive fees and there are no hidden costs.
Deposits and Withdrawals: The platform facilitates the deposit and withdrawal of fiat money and cryptos.
Demo Account: The feel is no different to the live account, giving users an opportunity to learn to navigate before going live.
Execution Speed: Exceptional speed limits slippage, which is particularly important in the crypto sphere.
Leverage: Allows 1:500 leverage, enabling traders and investors to enhance returns. It is important to note, however, that leverage can lead to substantial loss.
Multi-Asset Class Offering: The exchange not only offers access to cryptos but also exposure to commodities, ETFs, fiat money, indices, government bonds, and shares.
Security: Currency.com has a strong emphasis on security, with its servers stored in data centers used by the world's lead exchanges.
Other positives include

Audited: Currency.com is audited by big four Ernst & Young.
Free Coins: Users are able to earn coins via the contests page.
Mobile Compatible: investors and traders can go mobile by downloading the Currency.com app from Google Play and AppStore.
Risk Management: In addition to more than 75 technical indicators and array of drawing tools, investors can also take advantage of stop loss and take profit capabilities. Currency.com also offers negative balance protection.
Cons
Currency.com is regulated and is KYC and AML compliant, removing any option for anonymity.
There is only a limited number of cryptos for those looking for access to smaller cryptos.
The Details
Currency.com supports the investing and trading of more than 1,500 tokenized assets, fiat money, and cryptos.

Cryptos supported by Currency.com include Bitcoin ("BTC"), Bitcoin Cash ("BCH"), Ethereum ("ETH"), Litecoin ("LTC"), Ripple ("XRP"), and Tether ("USDT").

While offering cryptos, the platform also offers the trading of more traditional asset classes. These include the trading of fiat money and also tokenized assets.

These tokenized assets include ETFs, shares listed across the major global indexes, commodities, and government bonds.

With the array of asset classes available, Currency.com provides investors and traders with a one-stop-shop platform.

Tokenized assets available on the Currency.com platform can be summarised as follows:

Commodities: Under the Oil Market category, oil-related tokenized stocks and commodities are available for trading. These include Brent Oil and companies such as Baker Hughes and Chesapeake Energy.

Exchange-Traded Funds: Amongst an array of ETFs, Currency.com offers the SPDR umbrella among others.

Indices: These include, but are not limited to the S&P500, NASDAQ100, FTSE China 50, DAX30, and CAC40.

Shares: Currency.com offers tokenized shares found across the world's major indexes, including Apple Inc. and Amazon.com.

Tokenized Bonds: Currency.com has recently tokenized and offers bonds issued by the Ministry of Finance of Belarus.

Investors trading tokenized assets on Currency.com do not own the actual asset class, for instance, Apple Inc. shares. Investors hold tokenized equivalents that track the actual asset. An added advantage is that investors are able to hold a fraction of the asset.

As a multi-asset class, regulated exchange, traders, and investors are able to make secure deposits and withdrawals, in both fiat money and crypto.

The platform also offers traders and investors with the option to trade on margin, with leverage of up 1:500.

Trading Platform
Currency.com provides an advanced but simple to use trading platform. (For demonstrative purposes, we are using the leverage platform and a demo account).

Investors and traders can place orders using the Leverage Platform or the Exchange Platform. You can place orders in one of two ways: Via the trade page or via the charts page.

Trade Page
By accessing the "Trade" page, users have access to cryptos, fiat money, and tokenized assets, including commodities, ETFs, shares, indices, and government bonds.

You may either select the asset or pairing from the categories show on the left-hand side of the trade page or use the "Search" option, as shown below.

For demonstrative purposes, we have chosen Bitcoin ("BTC"). You can then find Bitcoin pairings to the right-hand side.

Buy
In order to purchase Bitcoin with US Dollars:

Click "Buy" and complete the information requested.
The platform clearly shows the required margin for a leveraged trade and the fee to keep the trade open overnight.
You are able to see a breakdown of the fees and additional information by clicking the "Information" icon alongside Margin.
You can also specify the buy/sell price by placing a limit order.
Once you have clicked Buy, you will receive a notification that the order has been placed.

Key features of the Currency.com platform include:
Customizable Layouts: Investors and traders can customize charts to meet individual requirements.

Dedicated Learning to Trade page: A dedicated learning center gives users an opportunity to learn the ins and outs of the platform and trading before taking the plunge. There is also a full demo platform and an FAQ section to further familiarise with the platform.

Indicators: The platform offers investors and traders 75 indicators and plenty of chart drawing options.

Leverage Options: Leverage of up to 1:500 is on offer to investors and traders to enhance returns.

Mobile Trading: Currency.com is also available on Google Play and the AppStore for those who want to trade on the go.

Multi-Asset Class Platform: Investors and traders not only have access to cryptos, but also tokenized assets including commodities, ETFs, government bonds, indices, and shares. Investors are able to make fractional orders. Fiat Currency pairings are also available, as well as crypto-fiat money pairings.

Professional Charts: Users have access to professional charts than can be saved within the charts page for future access. This removes the need to rebuild charts with indicators and drawings.

Risk Management: Currency.com offers all-important risk management capabilities to mitigate market risk. These include stop loss, guaranteed stop-loss, and take profit order options.

Key attributes of the Currency.com platform include:
Provides investors and traders with access to more than 1,500 tokenized assets, fiat money, and cryptos.
Powerful charts and 75 technical indicators.
Offers a leverage of up to 1:500, with leverage limits varying by asset class. (See additional information section)
Investors and traders are able to deposit and withdraw compatible cryptos and supported fiat money.
Mobile friendly with a mobile app compatible with android and iOS.
Tight market spreads of $0.05 for BTC.
Regulated by the Belarusian 8th Decree on Development of Digital Economy.
Competitive commissions and no hidden fees.
Fully regulated and AML and KYC compliant.
An impressive trade matching speed of 50m/sec.
Regulated by the UK FCA, Cyprus SEC, and Belarusian 8th Decree on Development of Digital Economy.
A very user-friendly interface, with plenty of tools to manage risk.
Demo account available to become familiar with the platform offerings.
Fast and easy registration process, with KYC and AML requirements for those looking for a regulated platform.
Global reach. Just 21 countries fall under the list of prohibited jurisdictions. As at 21.02.20, prohibited jurisdictions include Cambodia, Iran, Myanmar, Panama, Syria, and the U.S. Click here for the full list.
24/7 - Customer support - 24 hours per day support is available via email, Facebook, Livechat, Telegram, Viber, and Whatsapp.
An impressive "Learn to Trade" section for the more novice investor and comprehensive FAQ section to support users.
Deposit & Withdrawal Options
Currency.com facilitates the deposit and withdrawal of funds in either crypto or fiat money.

Fiat Money: Users can make fiat money deposits and withdrawals by debit and credit card, bank transfer, or online banking. Currency.com also supports SEPA and eWallets.

Cryptocurrencies: Currency.com also supports the deposit and withdrawal of cryptos. Investors and traders are able to withdraw and deposit cryptos supported by the Currency.com platform. These include Bitcoin ("BTC"), Bitcoin Cash ("BCH"), Ethereum ("ETH"), Litecoin ("LTC"), Ripple ("XPR"), and Tether ("USDT").

Deposits
Do note that, while you are can make deposits, you can only trade for up to 15-days until you have completed the verification process. (See Registration Process for details).

Investors and traders are able to:

Make fiat money deposits by bank transfer, online banking, and credit and debit card.
Investors and traders who already hold Currency.com supported cryptos can make a wallet to wallet transfer.
In the case of transferring already held cryptocurrencies, select the appropriate crypto wallet listed on the "Wallets" page and click the deposit option. For demonstrative purposes, we have chosen Bitcoin ("BTC").

Currency.com Wallets
Currency.com has a dedicated page availing existing crypto and fiat money compatible wallets to facilitate the deposit, withdrawal, and storing of assets.

Wallets are available for fiat currencies that include the Belarusian Ruble, EURO, Pound Sterling, n Ruble, and U.S Dollar.

Crypto wallets include Bitcoin ("BTC"), Bitcoin Cash ("BCH"), Ethereum ("ETH"), Litecoin ("LTC"), Ripple ("XRP"), and Tether ("USDT").

Simply click the Wallet's icon at the top of your screen to gain access to your wallets, as shown below.

The Affiliate Program
Currency.com also provides an attractive affiliate program. Affiliates receive 50% of trading commissions paid by their clients in the first 6-months. Additionally, they can also receive 10% of sub-affiliate commission.

Affiliates also receive a 12% discount on trading commissions. For more information please visit

Additional Information
Contests and Commissions
Currency.com has a number of offerings whereby users are able to earn free crypto coins. These include Bulls Race and Commissions from Friends

These are advertising campaigns that are launched by Currency.com, with each campaign running for a specified period of time.

Bull's Run: Points are allocated to participants based on trading commissions paid by a participant and by a participant's friend under the referral scheme.
Commission from Friends: Finally, Currency.com also offers 50% of all trading commissions user referees pay for the first 6-months of trading. The referral link can be found in the contests page, under 'Commissions from Friends.'
Charts
The Currency.com platform provides investors and traders with interactive charts to support trading and investment activity

Investors and traders have an array of indicators and drawing tools on offer, as well as chart types, price types, and intervals. Users also have the option to include "Layers" that shows trades and orders.

Indicators are split into the following categories to choose from: Popular; Oscillator; Trend; Volatility; Volume; and Other.

As an interactive chart, investors and traders are also able to make buy and sell orders directly from the chart.

On the left-hand side, there is an added feature under charts, where users are able to have quick access to previously saved charts.

In order to include the chart of a particular pairing or asset class, simply click "Add to Charts". All indicators and other drawings are retained and this removes the need to search for a pairing and to recreate the chart at a future time.

You can then select the chart you wish to view from the options at the top of the Charts page as shown below

Balances and Trading History
The platform also provides traders and investors with a history of transactions and activity and a snapshot of open trades and orders made.

In order to view your transaction and activity history, simply select the "Reports" from the index located on the left-hand side of the platform.

You can then narrow down the content of the report by type, status, and by time period.

In order to view your portfolio, simply select "Portfolio" from the index on the left-hand-side:

Here you are able to show the portfolio by Trades or by Orders.

Do also note that, at the top of your screen, you are also provided with your available balance; equity; funds; P&L; and Reserved amount in U.S Dollars. You also have the option to change from U.S Dollars to Bitcoin ("BTC") or Ethereum ("ETH") from the dropdown menu at the top of the page.

FAQ
Some of the more frequently asked questions available on Currency.com include:

Can I deposit funds and trade before my account is verified?

Yes, most of our clients have an opportunity to conduct a deposit (up to 1000 EUR in equivalent) and trade up to 15 days without full verification to be held.
Please note that the Belarusian residents should have their accounts verified prior to depositing funds and start trading.

What are the maximum leverage sizes?

ETF 1:20;
Indices 1:100;
Commodities 1:200;
Shares 1:20;
Cryptos 1;100 for major crypto pairs and 1:20 for others (1:50 and 1:100 leverage requires a guaranteed stop loss);
FX 1:500.
For ETH/USD, BTC/USD, ETH/EUR, and BTC/EUR you can set a 1:50, 1:100 leverage only with a guaranteed stop-loss embedded.
Is my personal data safe?

We have taken extreme care to ensure that all of our clients' data remains safe and secure. The Currency.com crypto platform is a trustworthy place to store your crypto assets and make them work.

We have developed a robust technical infrastructure to prevent fraudulent activity and to keep both your personal data and money safe. We use encryption to protect personal data of our customers, as required by the European GDPR.
We offer top-notch user-account security, the strongest 2FA verifications, activity logging and the whitelisting of IP addresses and devices. Your payments and withdrawals are effectively protected.
Equipped with an advanced coin-tracking platform we verify all transactions that take place on the blockchain. We guarantee the highest level of security for clients' accounts, payments and assets.
Our servers are hosted by the world's foremost professional server host, UK-based LD4 Equinix, used by many of the world's leading exchanges including the Dow Jones and Nasdaq.
Are there any hidden charges?

No, Currency.com is entirely transparent about its charges. All charges and fees can be found here.
Nevertheless, we kindly ask you to note that some extra commissions may be charged by your bank.

Conclusion
Currency.com is a one-stop-shop exchange that provides investors and traders with access to more than 1,500 tokenized assets, fiat money, and cryptos.

The platform is very user friendly supporting both the seasoned and more novice investor.

Coupled with professional charts, leverage, and competitive fees, Currency.com is a platform for investors and traders looking for speed of execution and emphasis on security in a regulated environment.

With its global reach and speed of execution, the platform also provides investors with a liquid environment. This is important for the trading of more volatile asset classes.

As the team looks to ramp up the number of tokenized assets and cryptos to more than 10,000, Currency.com is an attractive option for traders and investors.