The gradual evolution of the digital age has brought about changes in every aspect of our life. Individuals and businesses have also evolved with technological advancement and the widespread use of the internet. There have been major changes in a number of industries and the financial sector is no different in this regard. The world of finance has also undergone significant change in this digital age, with numerous advancements being made to facilitate people. One of the biggest waves that have occurred in the finance industry is the introduction of cryptocurrencies and crypto exchanges like Pinance (which we will be talking about today in our Pinance.io review). The concept of this digital currency was first introduced in 2009 by Satoshi Nakamoto in the form of Bitcoin.
It is a digital currency that is now being regarded as the future of modern transactions and banking. The decentralized and volatile nature of cryptocurrencies initially made people skeptical about their reliability, but over the years, Bitcoin and the other altcoins have proven to be a worthwhile investment. Nonetheless, they still remain highly unregulated due to which it can be difficult for people to figure out how to invest in them in a safe and secure manner. This has become a major concern because their non-regulation gave cybercriminals the perfect opportunity to take advantage.
Therefore, the cryptocurrency market is now flooded with these hackers and scammers and they come up with different ways to exploit people. Since it is still a relatively new area and is in its evolving stage, those who don’t have a lot of knowledge often end up being victimized. If you do some research, you can easily find stories of people getting scammed while trying to buy or trade cryptocurrencies. In fact, these criminals have gone as far as creating their own crypto exchanges or brokerages through which they lure traders and investors and then make away with their funds.
Suffice it to say, you need to learn to navigate the cryptocurrency market very cautiously if you want to be able to invest in this digital currency. Thousands of people all over the globe want to invest their funds in cryptocurrencies because their volatile nature also gives them the potential of generating substantial profits for their clients. Moreover, a number of other cryptocurrencies have also been introduced after Bitcoin and the market has become a very strong one. You can find numerous other crypto coins, such as Ethereum and Litecoin. In fact, the total number of coins in the market has now surpassed 5,000.
Nevertheless, the pioneer cryptocurrency Bitcoin is still the most demanded one in the market because it has the highest market capitalization and boasts a cap of 21 million. There will be no more Bitcoins after it has reached that cap, which has automatically made this cryptocurrency quite valuable. The only problem is that buying Bitcoin or any other cryptocurrency has been made too complicated. The demand for cryptocurrencies led to the creation of cryptocurrency exchanges where people could convert their fiat currencies into crypto. But, these exchanges have made this process too complicated and time consuming.
Therefore, it is not surprising to know that crypto enthusiasts are faced with a pressing challenge; finding a cryptocurrency exchange that is fraud free, easy to navigate, transparent and can simplify the process of buying cryptocurrencies. A quick look will tell you that there are hundreds of crypto exchanges to be found in the market, with each claiming to be the best at what they do. But, it is important for you to remember that no two exchanges are the same. It is very easy to be tempted by some of the offerings because they deliberately offer low fees to attract investors and traders.
However, the key to finding the right cryptocurrency exchange is to do your due diligence. This decision should not be made without doing proper research into the cryptocurrency exchange you are considering. Only after you have checked the different offerings and aspects of an exchange should you think about signing up with them. Pinance is one of the cryptocurrency exchanges that you will discover when you begin your search for a reliable and comprehensive solution for your crypto investment and trading needs. Some people may not pay much attention to this exchange because it is relatively new.
But, the fact is that Pinance is one of the few cryptocurrency exchanges that have been at the forefront of the digitization of cryptocurrencies. This cryptocurrency exchange platform is owned and operated by Pinance OU, a company that is incorporated and located in Estonia and is registered by the Financial Intelligence Unit. This means that the exchange is properly regulated and is authorized to provide services of exchanging digital currencies against fiat. Hence, users of this cryptocurrency exchange can benefit from a trusted environment when they are purchasing or selling their cryptocurrencies. Before you make your final decision, you can check what makes Pinance different from the other cryptocurrency exchanges out there.
Overview of Pinance
As mentioned above, Pinance is a customer-centric cryptocurrency exchange platform and is regarded as the epitome of reliability and innovation. The exchange is dedicated to providing the best possible service to their clients due to which they have created a safe and secure environment for buying and selling cryptocurrencies and also charge the most affordable rates.
Furthermore, they have added all possible features, such as OTC trading, wallet for storing cryptocurrencies and two-factor authentication to ensure that they can meet the needs of every single individual who signs up on their platform for crypto investing or trading. Purchasing digital assets has never been easier than it is on Pinance and it will only take you a couple of minutes to execute your transactions.
The Assets Available for Purchasing and Trading
The purpose of a cryptocurrency exchange is to enable people in buying and selling cryptocurrency and this is exactly what Pinance does. Currently, you can buy and sell Bitcoin and Litecoin through the cryptocurrency exchange. You can easily switch between the digital currencies available and easily make your purchase without any hassle and at the best possible prices. The exchange is committed to providing competitive rates to its clients to help them make the most of their crypto investments.
In the event that you do not want to buy cryptocurrencies, you can use the Pinance Over The Counter (OTC) trading desk for trading Bitcoin or Ethereum. The concept of trading is introduced for those who don’t want to hold onto cryptocurrencies and prefer to take advantage of their price movements to earn profits. Cryptocurrency exchanges usually offer low or volatile liquidity, which doesn’t appeal to some traders or they do not want to wait for long for their order to be fulfilled when they buy a large amount of Bitcoin or Ethereum.
Purchasing a large quantity of any cryptocurrency via an exchange also causes the market price of the crypto to change. With OTC trading, you are granted a certain degree of anonymity and a large trade doesn’t give rise to any unwanted price movements, which adds to the appeal of this option. If you want high liquidity or want to place a large trade, you can use the Pinance OTC trading desk for this purpose. This saves you from wasting your time trying to find a reputable cryptocurrency broker and signing up with them to make your trade.
A Straightforward and Easy Signup Process
The process of signing up with a cryptocurrency exchange or broker is often a daunting one for people because there are too many requirements that they have to fulfill. There are multiple forms and lots of documents to be submitted, which can make the procedure extremely difficult. As a matter of fact, a number of people tend to quit halfway and don’t bother completing it because it seems like a waste of time. Pinance is fully aware of the complaints and issues that people have had regarding this process. In order to facilitate their clients, they have kept the procedure easy to follow and haven’t dragged it out unnecessarily.
To register yourself with this cryptocurrency exchange, you need to visit the Pinance website. There, you will come across the form that needs to be filled. It is a single form that asks for some basic information about you. Documentation is required for verification purposes, as made mandatory due to international regulations, but even those are not extensive and can be submitted as per your convenience. Nonetheless, it should be noted that you will not be able to make purchases or withdrawals if your documents are not verified.
The form asks you to provide your first and last name, phone number and your location. Make sure the phone number you enter is a mobile number or a landline number. Prepaid numbers or VOIP numbers are not accepted by the exchange. You also have to enter your email address and choose a password for log-in purposes. A confirmation email will be sent to your email address for its verification. When your email has been verified, you can use the exchange for sending, receiving or exchanging your cryptocurrencies without any problems.
However, further verification is needed to be able to purchase cryptocurrencies. Back to registration, you also need to choose an account currency. A total of four options are provided by Pinance, which are EUR, GBP, USD and South African Rand. You can opt for a currency that’s convenient for you. Next, you have to agree to the exchange’s terms and conditions, which are relatively straightforward and provide information about the different policies that you will be subjected to while using their services. The age criteria that you have to fulfill to be eligible for sign up is 18 years. As long as you are above 18, you can easily create an account with Pinance.
Your registration process will be complete here and your account will be created immediately. Document verification is typically immediate and even if time is needed, it is not longer than 24 hours. Hence, you don’t need to worry about long waiting periods before you can buy cryptocurrency.
Excellent and Comprehensive Security Protocols
One of biggest concerns of people venturing into the cryptocurrency market is security. The number of frauds, scams and other fake schemes has increased exponentially with the popularity of these digital assets and thousands of people have suffered as a result. As a matter of fact, various cryptocurrency exchanges have also been hacked and people had their assets stolen and even their personal information ended up in the wrong hands. This is undoubtedly worrisome due to which people are often apprehensive when signing up with any exchange.
With the rising concerns, Pinance took appropriate measures to reassure its clients about its services. Their customer dedication and support is evident from the fact that they have implemented the best security protocols to give peace of mind to their clients. First and foremost, you don’t have to worry about the safety of the personal information and document that you share with the exchange. They have used the highest standard of encryption technology for protecting every single piece of information that’s entrusted to them by their clients. You don’t have to worry about your information being compromised.
Moving on, since Pinance is regulated internationally, there are some guidelines and policies that it has to follow. In accordance with international regulations, the crypto exchange is required to comply with the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. This means that when you sign up to use their services, you also have to follow these guidelines. What do they entail? They require clients to provide some necessary documentation to prove their identity and their residence. The aim is to prevent criminals from using the platform for any illegal activity. As for AML, it is designed to prevent money laundering or any other such financial crime from being conducted.
To give proof of identity, you have the choice of providing Pinance with your national ID card, driver’s license or your passport. These documents should be valid and there should be at least six months until their expiration. Any one of these three documents can be provided to prove your identity. To give proof of address, users can provide the exchange with any utility bill, whether it is electricity, cable, gas or water, or a bank statement. No matter which document you submit, it shouldn’t be more than 3 months old and should clearly show your name and address. Cell phone bills are not acceptable for this purpose.
Proof of payment is also a requirement at Pinance. A clear image or scan of the debit or credit card used for funding the account has to be provided. The front side of the card should be clearly visible and a selfie is also required for completing the verification process. All of these documents are checked and verified by the exchange before your account is approved. An email will be sent to inform the clients that their account has been unlocked. In addition, the exchange also prompts the users to secure their accounts with 2FA (two-factor authentication) after they have logged in. This adds another layer of security for reassuring the clients.
A Free Wallet for Storing your Cryptocurrency
When you have decided to purchase cryptocurrencies like Bitcoin and Litecoin, then you should know that you will have to get a wallet for storing your digital assets. Where else will you keep them? There are a wide array of crypto wallets that you can find nowadays, but it is important to remember that not all of them are secure. If the wallet you choose doesn’t offer strong security, it is possible that someone can hack into it and steal your virtual funds. Obviously, you don’t want anything like that happening to you, which means you have to look for a secure wallet.
But, why look for one when Pinance is offering you a cryptocurrency wallet for free? When you sign up with this exchange, you will be granted access to a free wallet for storing your Bitcoin and Litecoin investments. This is undoubtedly convenient because it saves you from the hassle of having to go around searching for a wallet. You don’t have to waste your time because you can store your assets right there on the exchange and not have to worry about them. Just like with their exchange, Pinance has taken the security of their wallet very seriously.
The first thing you should know is that the wallet is insured for $100 million, which means even if the security is compromised, you will be compensated. The exchange has also kept client funds segregated, as per the regulatory requirements, in order to prevent them from being used by the exchange itself. Moreover, when it comes to storage of the digital assets, Pinance has opted for efficient and secure cold storage options to reduce the chances of them being stolen or compromised. They have used the most cutting edge technology to assist people in accessing their digital funds safely from anywhere.
It should also be noted that your wallet address is changed every time there is any movement in funds. This is done for security purposes and prevents cybercriminals from being able to track your wallet address in order to take advantage of it. However, you should always check the address before making a transaction in order to ensure it is done right.
Reliable and Smooth Deposit and Withdrawal Policy
It is a given that to buy and sell cryptocurrency on a cryptocurrency exchange, you have to deposit funds and withdraw them. How will you do that? Pinance provides its clients with several methods to choose for deposits and withdrawals. You can either use the traditional bank wire transfer option or can opt for debit and credit cards, including Visa and MasterCard. The choice of method depends on you.
You will have no problems in doing so if your account is verified. To initiate a withdrawal, a form has to be filled out and it is processed within 72 hours to allow clients to access their funds as quickly as possible. Refunds can also be made if the transaction has not been confirmed, but charges will be deducted in this case, which are to be borne by the user.
Top-Notch Customer Support
The availability of customer support at a cryptocurrency exchange is a must because you might encounter a number of issues that need assistance. If there is no support, you will be stuck and this can lead to heavy losses, as you will be unable to buy or sell cryptocurrency. Pinance has gone to great lengths to make sure that its clients do not have to suffer. They have created an FAQ section on their website where they have provided answers to numerous questions. If you still have a problem that requires assistance, then they have provided several channels to reach out to their staff.
You can find an email address under the Contact Us section on the Pinance website that can be used. A phone number is also provided that can be used if the problem is immediate. Also, there is a contact form provided on the exchange’s website that you can fill out and send to them. They will get back to you as soon as possible to resolve your issues.
Pinance has paid attention to every single aspect of customer experience, from pricing to security, to ensure that anyone who chooses their cryptocurrency exchange will not have to face any unwanted challenges. You can use their platform to purchase digital assets with minimum fuss and at a reasonable price.