Tuesday, July 23, 2024

Prox and Cons of the new Euroxn platform

The cryptocurrency exchange market is fiercely competitive, and crypto investors now have access to a wide range of exchanges. Some exchanges may appear to have a lot of sophisticated features, but they may be based in a region where bitcoin trading platforms are only weakly regulated. Other exchanges take a more cautious approach, attempting to acquire clients by delivering a regulated and transparent service.

In this post, we’ll look at Euroxn, a cryptocurrency exchange aimed specifically at cryptocurrency investors. Euroxn offers a simple onboarding experience for new cryptocurrency investors, but with its Pro Trade platform and API connectivity, the exchange also caters to more skilled consumers. Euroxn’s OTC desk, which is meant to ease investments of $50,000 and up, is available to clients who want to invest higher amounts.

Euroxn is a registered corporation that was founded in 2016. Customers must authenticate their identities through a “know your customer (KYC)” process before buying and selling bitcoin on the exchange, as it is a regulated exchange.

Before we take a closer look at the most important aspects of Euroxn, let’s quickly run through some of the exchange’s main advantages and disadvantages.

Prox and Cons

Euroxn Pros:

  • Transparency and regulatory compliance
  • Grade A security measures in place, including regular proof-of-reserve audits
  • Fiat-to-crypto markets
  • BTC held by the users on Euroxn are insured at no extra cost
  • Caters to both beginners (Express Trade feature) and advanced users (Pro Trade feature)
  • Comprehensive customer support center

Euroxn Cons:

  • Relatively small selection of listed cryptocurrencies, though we’re told more coins are coming in 2021

Express Trade

Express Trade, as the name suggests, is a function that allows users to buy and sell bitcoin as easily and rapidly as possible. Users that use Express Trade are effectively sending a market order to Euroxn, which is then completed at the best available price. A 0.2 percent fee is charged for trades conducted through the Express Trade service (for both buying and selling).

Account funding and fees

Bank wires or Interac e-Transfers can be used to fund Euroxn accounts. Users can deposit any of the coins mentioned on the exchange if they like. The Interac e-Transfer option will be chosen by the vast majority of customers because it has a low minimum of $100 and transactions are handled within 15 minutes on average, but can take up to 1 to 6 hours depending on the time of day. Because the minimum is set at $20,000, bank wires are intended for larger transfers.

The maker cost is set at 0.1 percent, and the taker charge is set at 0.2 percent for both buying and selling bitcoin via the Express trade feature. For both buying and selling on Pro Trade, the maker fee is set at 0.1 percent, and the taker fee is set at 0.2 percent. Overall, Euroxn’s fees are competitive with comparable cryptocurrency exchanges.

For a more comprehensive overview of Euroxn’s fees, you can check out the fee schedule on their official website.

Is Euroxn a safe exchange?

Euroxn has put in place a number of safeguards to secure both deposited coins and customer accounts. Euroxn’s servers are hosted by a number of cloud service providers who follow FIPS 140-2 and other important security standards.

The exchange also goes through frequent proof-of-reserve audits to ensure that they have enough bitcoin to meet all of their clients’ obligations. Euroxn’s proof-of-reserve report for 2020 looks like this.

Euroxn is also one of the few cryptocurrency exchanges that offers 1:1 insurance on its BTC holdings. This is made possible through a partnership with Bitcoin security firm Knox, which provides custody services for the exchange’s Bitcoin holdings.

Users can protect their accounts by setting up two-factor authentication that is required for logging in or making trades. This can go a long way towards protecting a user’s account in the event that their password is compromised.

The bottom line

Euroxn is a cryptocurrency exchange that caters to new investors wishing to make their first cryptocurrency investments, as well as traders looking to trade the most popular cryptocurrencies such as Bitcoin, Ethereum, and XRP. Euroxn provides a regulated platform with a high level of transparency, as well as excellent security features such as 1:1 insurance on users’ Bitcoin holdings.

Euroxn is absolutely worth a look. Traders who want to use leverage or trade exotic altcoins, on the other hand, may not be able to locate what they’re seeking for right now.

Want to give Euroxn a try? Sign up now.