(www.alfa.cash review) Alfa Cash Review – Pros and Cons of AlfaCash Exchange
Alfacash is an incredible exchange platform offering traders a smooth passage into the cryptocurrency world
Introduction
When cryptocurrencies first came into the financial space, there were lots of speculations flying around. Most believed it was all a bubble waiting to explode but that explosion never came. The cryptocurrency market has since then established itself in the financial market while greatly influencing how we do business.
Apart from transactional purposes, making investments in cryptocurrencies is now seen as a very promising means of gaining financial success. This is evident in the recent major bull run experienced in the cryptocurrency market seeing lots of investors make huge returns. The bull run saw the majority of the top 20 cryptocurrencies attaining all-time highs which further attracted lots of investors to join the bandwagon. It’s important to note that as much as the cryptocurrency market is alluring, it comes with great risks as the market is highly volatile and unpredictable.
As a trader looking to invest and have access to the cryptocurrency market, it is obligatory to go through an exchange platform. A decent exchange platform is there to provide for its clients quick and accurate information, standard trading tools, rapid and reliable support whenever needed. As an investor, the information made available is the most important element; a trader is only as good as the information he has. And this is why choosing the right exchange platform is crucial to your growth as a trader.
You might think choosing an exchange platform is a simple task until you see the infinite number of exchange platforms available in the cryptocurrency market. The daily influx of new traders has resulted in an influx of trading platforms both scams and legitimate leaving traders confused on which exchange platform to go for.
Finding a suitable exchange platform that addresses your trading needs requires some work. Research into the services, features, and workings of several exchange platforms must be carried out before finally choosing. We understand that these researches can be frustrating and as such, we’ll be doing that for you, so you can direct your time into knowing more about the ins and outs of the cryptocurrency market.
We are all about making honest reviews of the features, benefits, and services of legitimate and credible exchange platforms present in the cryptocurrency market. And one of the legitimate exchange platforms that come to mind is the Alfacash.
This is a review of the Alfacash exchange platform explaining in detail the exceptional services it offers its clients. The review is directed to reveal to you the pros and cons of this exchange platform so you decide if the good outweighs the bad for your trading needs.
An Overview of Alfacash
| Exchange | Alfacash |
| Website | http://www.alfa.cash |
| Location | Estonia |
| Minimum deposit | $50 |
| Number of Assets | 28 cryptocurrencies |
| Deposit and Withdrawal | Debit and credit card, Fiat and Bank wire transfers |
| Customer Support | 24 hours a day except for weekends, 7 days a week, Telephone, Email, and FAQ section |
| Referral Bonus | Yes |
AlfaCash Exchange Review
Alfacash is an electronic cryptocurrency platform established in 2012 and registered in Estonia. The exchange platform has a flexible user-friendly interface developed to serve the trading needs of all traders be it a beginner, intermediate, or expert. Alfacash is best for traders that understand the value of trading in a stimulating environment with various advanced trading tools.
As mentioned earlier we’ll be looking at the pros and cons of this exchange platform to see if it is best for investors. Let’s begin with the positive aspects of the Alfacash exchange platform. Alfacash offers some great advantages that see it to be exceptional so we’ll be taking it from the top, starting from its main strengths.
A non-custodial exchange platform
The idea of decentralization in the world of cryptocurrency is one that is highly discussed and debated; it is a controversial idea.
The things are, during the foundation of cryptocurrencies, the aim has always been for digital coins to be decentralized. This implies that no major authority will have autonomous regulating power over them. And while that is fine and good, most exchange platforms fail to follow this principle, making themselves custodians of clients’ cryptocurrencies.
A custodial exchange platform holds clients’ cryptocurrencies in a wallet during or after an exchange process and this defies the idea of decentralization. This isn’t the only issue that comes with a custodial exchange platform.
Using a custodial exchange platform disallows traders to perform pair to pair transactions without having to first deposit funds into the platform. Also, security is the biggest concern when it comes to a custodial exchange platform; a successful cyberattack on a custodial exchange platform sees clients losing all of their investments.
With all that being said, it is promising to know that the Alfacash exchange platform is a non-custodial one. What this implies is that the platform will not at any point keep your digital coins while you perform your trading. This simply makes you responsible for your security, giving you the option to use one of the safest wallets present in the market.
Multiple listed cryptocurrencies
Traders and investors have acquired vast knowledge about the cryptocurrency market, giving them the edge to trade more digital coins. Hence, to make the best out of the cryptocurrency market, you shouldn’t trade just only Bitcoin.
Even newbies now go into the cryptocurrency market looking to trade, purchase, and hold varieties of cryptocurrencies. With this development, it becomes crucial for investors to choose an exchange platform that overs a great variety of cryptocurrency.
Alfacash exchange platform does well in its cryptocurrency offerings. It offers a total of 28 different cryptocurrency assets on its website. Frankly, this isn’t a “huge” variety but in comparison to most exchange platforms, 28 digital found is still incredible.
With Alfacash, traders have access to major cryptocurrencies like Ethereum, Litecoin, Bitcoin, Ripple, and so on. Asides from that, more-niche assets such as OmiseGO, Basic Attention Token, and Chainlink are also made available. Honestly, the assets provided are enough to cover most investors’ trading needs and wants.
A Completely Automatic Exchange
The Alfacash is fully automated allowing traders and investors to execute trades automatically. This implies that there is no hand-operated involvement in the overall process of exchange.
A fully automated system translates to high speed; traders get to execute trades instantaneously not needing to wait for any human intervention to process the transaction order. An automated system also promotes smooth trade execution which can be a determining factor between making huge profits or losing.
For instance, after analyzing the BTC market trend, ready to enter a favorable position, with an automated system, the execution is instant. However, if it were to be manual it might take some time causing the market to change position seeing you miss out on the opportunity or even execute late causing you to eventually lose the trade.
Cryptocurrency can be bought using a credit card
New investors face lots of struggles at the beginning of their trading career. Some find it difficult to choose a decent coin to invest in, while others find it hard to calculate trading fees. However, a common struggle among new investors is the process involved in purchasing a chosen crypto assets that they would like to trade or hold.
In all honestly, it is difficult to buy some trading assets even as an expert trader. And one such asset is MIOTA, however, with the digital coin now having its Ledger support, it is now easier to make a purchase.
To be frank, most of the top-rated exchange platforms allow their clients to make payments using credit cards and bank wire transfers.
Let’s now have a look at some of the flaws of this exchange platform;
Doesn’t accommodate US-Based Investors
One of the biggest flaws of the Alfacash exchange platform is the fact that it doesn’t operate in the US. These might look a little bit suspicious for newbie traders and investors but there’s nothing to worry about as there a simple justification for this.
There’s an institution in the US, called the Securities Exchange Commission SEC responsible for the regulation and legislation of various cryptocurrency exchange platforms located within the United States. Alfacash is located in Estonia and this is what causes the problem.
Alfacash is not affiliated with the SEC and as such is prohibited from having US investors. In a situation where Alfacash accommodates a US investor, SEC has the right to sue Alfacash. This is why Alfacash had to stay off the US. So for US investors, Alfacash is off-limit. There are other exchange platforms in the US that offer similar services.
Fees
Another crucial factor traders look into before choosing an exchange platform is the commission and fees charged. However, it isn’t a straightforward thing when it comes to crypto exchange platforms. To make an exchange, a trader must always deal with a maker and a taker.
A maker is an individual who brings in offers to sell or buy specific crypto assets when it gets to a particular limit. On the other hand, a taker is an individual willing to buy crypto assets immediately at the current market price. It shouldn’t be surprising that the fees from both will be rather different.
The Alfacash exchange platform charges a commission ranging from 1% to 5% depending on the crypto asset the trader wants to sell or buy and the time at which the transaction is being performed.
This is on the high side. The majority of top-performing crypto exchange platforms across the globe charge an average commission between 0.1% to 0.5%.
Final Thoughts
Alfacash is an incredible exchange platform offering traders a smooth passage into the cryptocurrency world. The incredible features and services it offers already speak for themselves. However, you will find out they have a low overall rating which is simply a reflection of them being an off-shore trading company and nothing else. So if you’re looking to choose an exchange partner, Alfacash is ideal for you.
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