It is no longer news that the cryptocurrency market has seen a surge in the past weeks. And this progression has definitely proved so many doubters wrong who considered the cryptocurrency market a bubble.
Everyone can now see that cryptocurrencies will be here for a long time and their present influence is so great that it is transforming how we carry out our businesses. Apart from business purposes, a lot of people now look to invest in the cryptocurrency market as its investment returns are quite attractive.
Investors now tend to think the greatest opportunities now lie in the cryptocurrency market. Digital coins have since then gained more general acceptability seeing more coins being traded on various exchange platforms. These exchange platforms give access to investors and traders into the cryptocurrency market, hence, traders are required to choose an exchange platform to work with on their financial journey.
Every trader’s goal is to achieve financial success in the cryptocurrency market and that is why it is important that they choose a decent exchange platform to help them realize their trading goals. As a trader, to achieve financial success, you must then be equipped with the right information. The information you have at your disposal determines how much success you accomplish in the cryptocurrency market.
Exchange platforms are the primary source of information in the cryptocurrency market, hence traders look to them to provide timely and accurate information on market trends. The information provided gives an informed understanding of the current happenings in the cryptocurrency market. For this reason, getting bad information is seriously terrible for business as you will always execute trades based on the information; bad information, wrong trade execution. To ensure you get the right information, you must then carefully choose a decent exchange platform that is invested in offering quality services to see you grow as a trader.
Choosing the right exchange platform today, now feels like work as there are numerous options out there. And this high number of exchange platforms can be attributed to the much progress the cryptocurrency market has made. Not all exchange platforms found in the cryptocurrency market are to be trusted, as many are scams and so many others not decent enough to meet the trading needs of traders.
To find a decent and legitimate exchange platform for yourself, a well-informed, and deliberate study of the services, benefits, and features provided by numerous exchange platforms must be done before you can finally choose the one that best suits your trading needs.
To be honest with you, the research to be carried out before choosing an exchange platform can be burdensome, and as such, we have decided to do that for you; we carry out the research and all you have to do is pick a choice from our findings.
We’ll be putting together several reviews about the features, services, and benefits of several legitimate and decent exchange platforms in the cryptocurrency market. And one that easily comes to mind is the Paritex exchange platform.
|Security||Cold Wallet and Secure Socket Layer (SSL) technology|
|Trading platform||Web-based platform|
|Trading assets||Bitcoin, Ethereum, Litecoin, Ripple and so on|
|Payment method||Wire transfer and cryptocurrency|
The Paritex cryptocurrency exchange platform was established in 2019, having its headquarters located in Turkey. The exchange platform offers its clients major cryptocurrencies such as Ripple, Bitcoin, Tether, and Ethereum in the market. Paritex has also listed some foreign altcoins for their clients to trade on their platform.
Paritex was established by a group of professionals to build a creative and simple strategy for trading in the cryptocurrency world. The exchange platform aims to offer its services to traders and investors around the world. However, It is uncertain if Paritex allows US traders to invest in their platform because of SEC regulations. But having gone through the platform’s Terms and Conditions, we could not find any detailed refusal of US traders.
Let’s have a proper look into the services, feature, and benefits the Paritex exchange platform offers its clients that makes it extraordinary.
The business of security is a very serious one and this has come to be so because of the numerous hacks from cyberattacks clearing out investments and stealing sensitive personal information.
In light of this reality, traders and investors have themselves become extra careful in choosing exchange platforms that can provide them the best security measures against these attacks. The Paritex exchange platform has done so well in providing the latest and adequate security measures you can find in the cryptocurrency market.
It has established the Secure Socket Layer (SSL) technology to protect all data and delicate information provided by its clients on its websites. Furthermore, Paritex makes use of cold wallets to store approximately 95% of all its assets. This means that assets are stored offline in secure locations and require manual procedures before anyone can access them.
All exchange platforms have a specialized trading platform. The trading platform is a section of an exchange’s platform where traders can read and analyze market trends of specific cryptocurrencies while monitoring their prices. It is not uncommon to find sell and buy boxes on platforms that alloallowders to execute market orders. Furthermore, traders can also go through their transaction history on trading platforms if the need arises. All these aren’t quite different when it comes to the Paritex exchange platform.
Paritex exchange, having the best interest of all traders, developed a trading platform that has the option of two different interfaces; the advanced and simple trading interface for its clients. The primary difference between the simple and advanced trading interface is that a more comprehensive technical analysis of various digital coins is made available on the advanced interface.
Talking about ease of use, both the advanced and simple trading interface are user friendly and easy to navigate by both amateurs and professional investors. The simple trading interface also provides various charts and graphs, order books of traded digital currencies.
It is also important to note that Paritex only offers a web-based platform to its clients and as such, no downloads or installation is required before clients can trade. This implies that all trading activities are carried out on the Paritex exchange website.
Commission and Fees
Traders are always conscious of commissions and fees charged by exchange platforms. High commissions and fees are a turn off to investors as this cut into the expected profits they look to make. Traders then look to sign up with exchanges that offer low commissions.
The fees charged by cryptocurrency exchanges are mostly of 3 types; trading fees spread withdrawal and deposit fees. Paritex as an exchange platform charges its clients relatively low, charging its clients only the trading and withdrawal fees.
Paritex, just like every other platform charges its clients a trading fee on every order executed. The trading fee is usually a specific percentage (as decided by the exchange platform) of the price of the executed order. For most exchanges, the trading fee is usually divided between the makers and takers.
However, Paritex charges a flat rate not separating the trading fee into makers and takers. The exchange platform charges a constant rate of 0.15% which is quite lower than most exchanges charging a trading fee of 0.20%- 0.25%.
Withdrawal and Deposit fees
The withdrawal fee charged by the Paritex exchange platform is very competitive. For each BTC withdrawal, Paritex charges 0.0005 BTC which is below the average BTC withdrawal fee of 0.0006 charged in the crypto market. Also, the withdrawal fee for other digital coins includes Ripple at 0.5 XRP per withdrawal, Litecoin at 0.001LTC per withdrawal, and Ethereum at 0.01ETH per withdrawal.
With the Paritex exchange platform, you can deposit both cryptocurrency and fiat currency into your account. However, depositing fiat can only be done via wire transfer. Since fiat deposits can be made on this trading platform, it gives intending investors easy access to the cryptocurrency works so they can begin their trading journey.
The Paritex exchange platform delivers incredible and quick support to all its customers. In the situation where clients have some complaints and questions to ask, they can always contact the exchange’s representatives as they are available 7 days a week and 24 hours a day. You can always find their contact information on the platform’s website.
So much has been said about the offerings and features of the Paritex exchange platform and it is now left to you to choose whether or not you will make this exchange platform your trading partner.
It is now clear the Paritex is an extraordinary exchange platform deeming the numerous services and features it is providing. Its customer-based exposure motivates the exchange platform to always be on the lookout for customers’ needs, offering the best support they could ask for.
So if what you really need is an exchange platform that is ready to meet all your trading needs then Paritex is one you should consider. Since it is a new platform, more outstanding features are still expected to be dished out by this platform as they move forward.