Are bitcoins legal in India?

Agenda

Are bitcoins legal in India?

Bitcoin was provided as independent of the state (meaning political power / certain territory) data exchange system. In simple words it is crypto money. And such a systemreally was independent of the states of the whole world, until bitcoin gained great popularity in the worldwide markets.

The beginning of a significant increase in popularity can be considered the 2013. Thus, only in the first 4 months the rate increased from $ 20 to $ 200. Then large investors began to pay attention on bitcoin. It was Brothers Winklevoss, Andreessen Horowitz, who invested $ 25 million in Coinbase. Little by little, more and more people were involved in the cryptocurrency system and many of them started to buy bitcoin. At the end of 2013, the rapid growth in the Bitcoin price attracted a lot of attention from the whole world. The number of network users began to grow at a much more rapid pace. And the rulers of different states could no longer ignore the phenomenon of cryptocurrency.

Bitcoin and law

The legal regulation of cryptocurrencies, in particular, the Bitcoin system, varies considerably from country to country. In a number of countries, operations with cryptocurrencies are officially authorized. Usually, they are treated as a commodity or investment asset and for tax purposes are subject to the relevant legislation. And while some countries like Japan introduce Bitcoin as a means of making payments, other countries pursue crypto traders and imprison them for crypto operations. Why authorities may declare bitcoin outlawed? How do they counteract blockchain technology and in which countries can you get a prison sentence for btc? Read on below.

Why cryptocurrency become illegal?

Are bitcoins legal in India?

The reason hides in the speculative nature and lack of intrinsic value. It means that bitcoin ethereum is not material. However, the latter is not quite true, as other assets can have a speculative nature of pricing. Also Muslim countries have banned cryptocurrency partly because of religion laws,while some even actively promote them. For example, The United Arab Emirates is often referred to as one of the advanced Middle Eastern countries for a crypto community.

Bitcoin can be disadvantageous for the state is for the following main reasons:

  • The threat to a national currency
  • Loss of cash flow control
  • BTC creates the best conditions for the circulation of illegal goods

Only these effects of cryptocurrency have a negative impact on the national currency (for example, the rupee). As you know, state authorities control many spheres of society through cryptocurrency. And state control is reduced with the growing popularity of crypto markets .

  1. Loss of cash flow control. Bitcoin is somewhat anonymous, which prevents the state from controlling the movement of finances. This makes it possible to freely withdraw money from the country.
  2. Turnover of illegal goods. Finding from whom exactly and to whom bitcoins were transferred is very difficult. Therefore, trading prohibited goods inside the country becomes much easier. It should be borne in mind that not only drugs and weapons can be banned, but also quite ordinary goods – technical means, literature, and much more, which do not fit into the country’s ongoing policy.

Such an example was the “underground” site on the Tor Silk Road network, which was mainly trading in prohibited substances but also had various literature and technical equipment on sale.

In this regard, the existence of a cryptocurrency system is unprofitable for the state, and any country will try to either prohibit bitcoin or look for methods to regulate cryptocurrency.

The main causes of the war with bitcoins

As you see, the main reasons of the fighting with crypto coin lies on the surface. In addition, calculations in a currency other than the national one lead to a decrease in economic indicators, including one of the main ones is GDP. So in the poor country is easier to launder money or take out capital abroad. Banks will not receive interest and payment operators fees.

In fact, the ruling elite forcibly deprived citizens not only of their rights but also of the opportunity to trade in cryptocurrencies. It is not obvious that the prohibitions have improved or at least left in balance the economic indicators, not to mention loyalty to the authorities. Still, at the moment Bitcoin does not constitute a threat to any economy.

Market capitalization is low and, more importantly, settlements within and between countries are still conducted in national or reserve currencies, but not in bitcoin or blockchain capitals. Bitcoin is popular with libertarians, and, of course, crypto-anarchists, but people still pay taxes and utilities in USD, euros, and rupees etc.

Countries where bitcoin is illegal: a brief overview

In general, there are quite a lot of risks, so some countries completely or partially prohibit cryptocurrency. For example, Nepal: the authorities have already put several cryptotraders behind bars and are not going to stop yet.

In addition to Nepal, Bolivia, Ecuador, and Kyrgyzstan spoke out sharply against bitcoin.

Attempts to ban the unregulated are ambiguous and have already led to the victims and the loss of money of ordinary citizens. Among the victims are also listed the creators, co-owners and others involved in cryptocurrency exchanges, exchangers and just owners of cryptocurrency, which fell under the ban.

Currently, there are four countries in the world in which for any transactions with cryptocurrency you can go to prison for several years:

  • Nepal
  • Bolivia
  • Bangladesh
  • Algeria.

Below are the countries where there are restrictions on certain types of transactions. Among them are:

  • China
  • India
  • Russia
  • Vietnam
  • Indonesia
  • Thailand
  • Kyrgyzstan
  • Ecuador
  • Iceland
  • Morocco
  • Malaysia

The absence of a regulatory framework around the cryptocurrency world leaves room for legal speculation and maneuvers. Unfortunately, this especially apply to countries governed by monarchs or religious fanatics, so not all supporters of cryptocurrency can hope for loyalty and understanding.

Indian market of cryptocurrency

India has long been a country that takes a tough stance against cryptocurrencies. The risks associated with digital currencies, such as money laundering and the financing of terrorism, have long nourished the Indian government’s approach to working with digital assets. A group of senior officials charged with the task of developing a newregulatory framework for cryptocurrency for India is now concerned about its impact on the rupee.

How it was started

Almost immediately after the statement of the Prime Minister of India Narendra Modi on the demonetization of rupees 500 and 1000 each, on November 9, the demand for Bitcoin sharply increased on the main Indian exchangers. Nevertheless, experts say that Bitcoin began to go up before the monetary reform.

Tight capital controls in India, as well as financial legislation, prohibit individuals or companies from taking money out of the country. Thus, in the Indian bitcoin market, arbitration has always existed.

The leading media in India, including The Times of India and India Today, began to widely cover the topic of Bitcoin, amid continued confiscation of gold reserves, and the use of tough measures against imports. Some news publications have expressed optimism in social media about the increase in demand for Bitcoin. But this only confirms the failure of the government program.

To the credit of the Indian government, all these measures as:

  • the confiscation
  • restriction
  • prohibition of the import of gold
  • demonetization of banknotes;

All of it were introduced to reduce criminal activity in India. Initially, it was supposed to tighten control over the movement of capital, the bottom line was that if the authorities restrict the flow of money for fraudsters, then this will lead to a decrease in criminal activity inside the country.

However, the Modi government has forgotten one important detail. The thing is the population as a whole, in the country, uses the same form of money as the criminals.

Currently, the Indian government is working on cryptocurrency regulation. According to the secretary of the Ministry of Economy of the country, the draft of the new law was planned to be prepared back in July. However, at the beginning of this month, the government announced that the new legislation would be ready until the end of 2019.

Bitcoin and blockchain technologies

Are bitcoins legal in India?

In the end, despite the strict regulations imposed by the law, blockchain technologies are still relevant.

So, According to The Korea Times on Sunday, April 14, Samsung SDS agreed to cooperate with the largest Indian IT giant Tech Mahindra in an attempt to enter the foreign blockchain market.

It is assumed that SDS, a division of the system integration of the Korean technical giant Samsung, plans to expand the use of its blockchain platform Nexledger in India, the USA, and Europe.

According to the agreement, the two companies will look for more business opportunities in the region. In addition, Samsung SDS will partner with Tech Mahindra in further updates of Nexledger.

In March, the parent company, Mahindra, reportedly trained 70% of its employees to work with new technologies, including the blockchain, AI, Internet of Things and cybersecurity.

Moreover, Mahindra had previously used IBM blockchain technology to create an invoice discounting solution between its automotive division and suppliers. According to IBM, the company is also exploring the possibility of using the blockchain to track details and improve automatic recall.

The attitude of the authorities to cryptocurrency

After all, several years of uncertainty needed for the Indian government. They decided to prepare a legislative framework for regulating the cryptosphere in the country anyway.

The country’s Ministry of Finance has punished the legislative commission to prepare a proper bill that will legally express the position of the state on the issue of cryptocurrency trade and blockchain industry.

What is the current situation in India?

Now it is exactly known that the government of India is renewing its attempts to completely ban public cryptocurrencies.

A report by press, including The Economic Times, says a number of government departments in the country supported the idea of ​​a total ban on the production and sale of cryptocurrencies.

The officials said that all support this ban:

  • the Department of Economic Affairs (DEA)
  • the Central Council on Direct Taxes
  • the Central Council on Indirect Taxes and Customs
  • Office of the Education and Investor Protection Fund .

Sources indicate that the final bill is expected to be proposed to the next government in May after national elections.

The country’s ministry of corporate affairs reportedly provided feedback to the DEA, arguing that most cryptocurrencies are used as Ponzi schemes for investors deception. In this regard, the Ministry recommended at the moment to prosecute the cryptocurrency in accordance with the Law on the Prevention of Money Laundering, since the adoption of the law on cryptocurrency will take some time.

Back in April 2017, the government created an interdisciplinary committee to investigate this issue, which was said to have discussed the issue of imposing a ban on “private cryptocurrencies” in October last year. However, at that time the committee was not in favor of a direct ban, but rather considered the possibility of legalizing cryptocurrencies with strict rules.

Until a final decision is made, the country’s crypto industry is in limbo. Since last year, banks in India have banned the central bank, the Reserve Bank of India, from servicing cryptocurrency firms and exchanges.

Scammers and cheaters as the reason of illegality

The scam is an investment project that for some reason stopped paying investors or was not even going to pay anyone. The concept of scam is often used among investors in HYIP projects. When HYIP ceases to pay, investors say that it has banned itself and call it a scam or deseption. High Yield Investment Program is a project with high profitability for investors, in most cases, sooner or later becomes a scam.

In poor countries with a low standard of living and underdeveloped legislation, the reason for the ban is often mass deceptions of the population and scam. But such breachonly indirectly related to cryptocurrency. For example, it happened in Bolivia in May 2017, when about 60 people involved in the creation of a cryptocurrency pyramid were arrested. Or in Thailand. The another reason breach, as a rule, concerns mining and increased electricity consumption, including illegally used to create cryptocurrency

Just in Mumbai, India, law enforcement agencies arrested four suspects allegedly involved in cryptocurrency fraud, which is estimated at 1 billion rupees (over $ 14 million). English-language daily newspaper The Times of India reported arrests on March.

In addition, the Indian police also arrested an employee of a separate group accused of conducting crypto fraud involving 5 billion rupees (about 71.6 million dollars).

Thus, scam and deception can be happened on different ways. But in poor country like India it’s going on not exactly because of crypto.

Ways of Bitcoin Scam

Are bitcoins legal in India?

The overview main types of scam projects

  1. A project that was not going to pay at all. This is pure fraud. Often these are peer-to-peer sites that collect money from investors and are not going to pay them later. Such sites either close at all with or manage to continue working and extort money from new users.
  2. The project that paid, but stopped paying for some reason, often it “error trader or project employee”. After the scam, a message (t is false, of course) appears on the site stating that as a result of an “error of some person, the company lost part of the deposit”.
  3. Hacking administration accounts. In case of huck a notice appears on the site that the accounts of one or all administrators have been hacked. And essentialy, the money has been stolen. This is the one of the most popular ways of deseption, which is still not possible to prove.
  4. Problems with the bank or some partner. You will learn that there “have been some problems on the part of the partner of this site” at once after stopping payments.
  5. The project is suddenly closed. Again, there may be an ordinary fraud, when traders were pay to splurge them, and then this company is closed.

How to identify a scam? Pay attention on this signs:

  • Constant technical problems with the site.When the administrator realizes that soon scam, he ceases to develop the site and spend money on its maintenance.
  • Technical support ignores you. A sharp deterioration in the work of technical support. Or they have stopped responding to you at all.
  • A sharp increase in income on the site scam. We talk about unreasonable growth of your incomes on the site. After that you most likely want to invest even more of your money. But in the end, you will lose everything. In such way scam wants to squeeze the last juices out of you.
  • Problems with the withdrawal of money. Read the rules of withdrawal of money from the site. If you expect much more than is required for withdrawal, then most likely you will not see your money.
  • Advertising project can be met everywhere. But on the other side it happens that a large amount of advertising is simply due to the desire to beat the competition.
  • Trust from users falls. And there is a growing number of negative comments on various resources.
  • Drop in project attendance. Often you can find an attendance counter on the site, and if the number of visits has fallen markedly, then something is wrong with the project.

How to protect against deception projects? If you have already reached the site, then, to begin with, evaluate its quality. Is the site well made, are there any noticeable errors or lags?

  • Read well about this project and learn the rules.
  • Be sure to look for reviews on the Internet about this company.
  • Be careful, because very good reviews, in which they write how much they earned, etc., can leave bots.

Try to find a rating of similar projects. Is there a given site there, what is its assessment there, how much trust?

Where can you buy and sell bitcoins legal?

Everyone who plunges into the world of digital currencies sooner or later faces the need to choose an exchange. There are a huge number of cryptocurrency exchanges, and each has its own advantages and disadvantages. For example, some trading platforms have a large selection of currency pairs, others with a user-friendly interface. Some are with expanded functionality and a variety of technical and graphical analysis tools, others of them add new tokens immediately according ICO calendar, others offer advanced security settings, etc.

Do not forget that choosing a stock exchange, the trader has to trust the funds to a third party. Decentralized exchanges that give the full control over the private key and, accordingly, the user’s means, are still only at an early stage of development.

8 Criteria of safety

Choosing a reliable crypto exchange to buy or sell bitcoins is a very difficult task. Often, traders stumble upon cheaters just because they have not carefully approached the choice of platform. Let’s understand the qualities of a reliable online platform:

  1. Coordination with countries. A good exchange that serves several residents is always coordinated with other countries. It means that if, for example, it allows serving residents in India, then it has no problems with Indian law.
  2. The founders of the exchange. Usually, a reliable platform provides some data about those who founded it.
  3. What is the reputation of the exchange and its teams in the market? To do this, we google information about the company, check employees through LinkedIn, look for references in the media.
  4. Registration documents of the exchange and its money-laundering policy (AML / KYC). Watch how cash transactions occur in this platform.
  5. Liquidity exchange. Try to see the daily trading volume of the exchange.
  6. Does the list of pairs suit you? The principle, the more steam the better, does not always work. If you have specific currency preferences, look for exchanges that offer a maximum of pairs with your chosen currency.
  7. System security and user verification. It is high liquidity that distinguishes a good stock exchange. Liquidity depends on the ability of the exchange to find a large number of sellers and buyers for transactions. The higher it is, the more likely to realize the order.
  8. The size of the fees. It is important to examine the site fees for operations. With each transaction in favor of the exchange will be charged a small amount. Make sure that it suits you, compare it with several other services.

Tokenexus: reliable cryptocurrency platform

Tokenexus (https://tokenexus.com) is a new cryptocurrency platform. If you are looking for a reliable platform to start in crypto-trading, then this service is what you need. The service works with two types of cryptocurrency: Ethereum and Bitcoin. In the near future, they are going to expand their capabilities to 20 types of cryptocurrency.

Advantages and policy

Tokenexus offers the trader the best conditions and complete security. The platform offers all the standards for high-quality work with crypto coins:

  • safe operations
  • confirmation and verification
  • round-the-clock assistance
  • top currencies
  • fixed prices
  • low transaction fee
  • banking systems service
  • prompt registration process

Not to mention the protection of privacy and user data.

Reliable crypto exchange for India and other countries

The platform sells and buys crypto coins at a fixed price. Tokenexus works mainly with the Euro and is available to many countries around the world.

As long as the legal status of cryptocurrencies is not yet fully regulated, Indian traders can also register and conduct trading operations here.

The platform has several language interfaces and is constantly evolving. For registration, you need your phone number and mail. If you want to buy a cryptocurrency, then you will have to upload your documents.

On the other hand, this only suggests that Token exus is not a scammer and only works with trusted traders.

Tokenexus Quotes and Reviews

1.In general, not so bad, very easy to learn, despite the lack of some languages. There is a minimum of tools, some even if honestly not enough. I would say that it is gaining more pluses than minuses. Well, whether to use it, you decide. Advantages of the exchange: easy registration, reliable verification, ease of use, a large number of shopping pairs. Disadvantages: as such, I did not find.

2. I like Tokenexus – https://tokenexus.com. This is a simple and convenient platform. Despite the lack of many professional tools, traders will appreciate the simplicity and convenience of the terminal. Firstly, there is a very simple registration. In order to become a client, you must fill out a simple form and pass the verification of your email address. Credit cards are supported and traders’ interests are protected. And of course, the average market commissions. The company offers competitive commission payments, which makes working with the platform profitable for customers.

3. The exchange is not quite suitable for the classic purchase and sale of tokens for real money. You have to confirm your documents to buy BTC. And you need to wait for 5 days until it comes to your wallet. This is not particularly bad for traders, someone might like to use the exchange like an ordinary exchanger, but there’s nothing you can do – this is a platform for trading. From here it is necessary to withdraw the crypt to your wallet, and if necessary, to any exchanger that will be cashed in fiat. Choosing an exchanger is a simple affair, the same best change can be monitored more often, it is easy to find a suitable one there. I don’t use any utilities at all in my work with this exchange anymore, I’ve got enough functionality from this.

 It is very convenient to play courses. The spread in sales is good, the liquidity of swaps and futures at height, if I’m not mistaken, the volume of a bitcoin/dollar pair – they are leaders in the world. They have a good API, the interface is only complicated, but this is a matter of habit and time. The crypt here is completely anonymous trade, it is possible to fight under any name, no docks are needed, there is no verification. Plus is some warrants encourage anonymity. With reliability, too, everything is in order. There are no hot wallets, a crypt is issued once in 5 days for a multi-signature – what else is needed for trust, I do not know. It’s a pity, that it’s hard to get into the listing of coins, it’s necessary that the market cap exceeds a billion bucks.

4. I can highlight such advantages of the exchange, as:

– a simple start to work. Here only registration is needed when verification is neede to buy BTC. Between the start of registration and trading takes a few minutes. On other exchanges, admission to trade lasts for weeks while data is being checked;

– It is pleasant to work with a serious exchange, where high liquidity is guaranteed;

– good opportunities for margin trading. The exact size depends on the asset, but for example, Bitcoin is trading up to x100;

– work with short positions and the game for a fall;

– simple interface for a beginner.

Disadvantages:

– too few tokens, work only in leading areas;

– transactions only in the Bitcoin Ethereum network.

5. I can say that experienced traders have to adapt and tune the platform for themselves for some time, while newbies get lost while working with futures and swaps. At the moment, the exchange is like, you can trade without knowing English, I just turned on the mode of the language that I need. The trading interface is created by the type of other exchanges, the procedure for creating an order, the placement of the main interface elements are similar to the generally accepted. In general, if you have experience with other crypto sites, then there will be no problems.

I liked the listing in the stock exchange: they did not scatter on a bunch of altcoins, they collected the most popular ones. This is mainly Bitcoin and Epherium. Types of deals are standard: limit and market, I would like to see more complex orders, such as stop-loss. There are no problems with their performance. Profit is displayed easily. I earn here for six months. There was an unpleasant moment associated with the account, but tech support quickly came to the rescue and solved my problem.

Beginners, I advise you to try to trade on different exchanges, so you can compare. Tokenexus is an excellent platform to start among other things. It is very convenient and clearly explained everything. I also like the fact that couples are constantly shown. The screen already at the entrance to the site you see what the state of the same Bitcoin: what you can buy, and how much to sell. The only thing I have to say is that the cryptocurrency comes to the wallet within 5 days. So if you didn’t find the currency right away, it’s not a problem, you cannot be full. In the end, you can simply ask customer service if something is wrong.

6. Before coming to Tokenexus, I read a lot of reviews. I was alarmed by the crypto industry in general, because I often came across reviews of cheaters, scammers, and theft of money. I even hoped that in due course the authorities of our country would take the right decision and ban these damn bitcoins so as not to fool people. But as you know, everything comes with experience. My attitude toward bitcoin has changed. I consulted with my financial advisor and registered for Tokenexus. This is a good platform for the first steps in the world of cryptocurrency. Simple interface, easy registration. And all two running cryptocurrencies: Bitcoin and Etherium. More generally, it is not necessary, because many crypto coins are just fiction and no more. Another plus of this exchange is a very low commission. Even in comparison with the majority of such crypto exchanges. And of course, the company inspired great confidence.

About disadvantages: there are no complex orders, such as stop-loss. Given that the company is very young, very little is known about its reliability and merits. Bitcoin comes to the wallet for 5 days. To purchase crypto, you need to download verified documents.

On the other hand, the platform is developing and promises access to more than 20 cryptocurrencies. Let’s see how it will be.

My first transaction was six months ago and I invested about 5,000 euros. The support service convinced me and I didn’t tricked by cheaters. I was in no hurry to sell the purchased Bitcoin because I knew how unstable the cryptocurrency market was. But in the end, when Bitcoin rose in price, I was able to earn money on it.

Now I trade Bitcoins and Ethereum. I decided that for now, I don’t want to change the platform, because I am only mastering crypto players and I want Tokenexus for the timebeing convenient for me.

About your data and money can not worry. Here is a good privacy policy and a refund policy. Payment is possible through credit cards, debit cards and bank payments.

I advise you not to worry if something wrong happened in your account. This sometimes happens and they will help you in any case. And of course, try to study the trends of the crypto market and its behavior. So you will not only avoid cheaters but also save your money, earn more profit and experience. Good luck to you!

Are bitcoins legal in India?

Summary overview

Bitcoin is the currency of the future. However, as world practice shows, not all countries are ready to accept innovations in the world economy. And while Japan or Germany are already using Bitcoin, other countries are ready to put the trader in jail. Bangladesh, Algeria, Bolivia, and Nepal are particularly aggressive about cryptocurrency. There are also other countries where Bitcoin is not yet outlawed, but strict restrictions apply to it. The reasons for the fight against cryptocurrency can be many. Most often it is:

  • fighting hackers and scammers
  • preventing the collapse of the national economy
  • religious reasons

However, it cannot be said that this helps in the fight against economic chaos. In general, with regard to cheaters, you just need to be able to identify them. How to find a reliable exchange for buying and selling bitcoin. If you study the basic criteria, you can protect yourself from unreliable companies. Particular difficulties occur in those countries where the situation with crypto coins is unstable. Like for example in India. The authorities are going to share the opinion of the government of Algeria and outlaw Bitcoin too. But so far, Blockchain technology is actively developing in the country of the Ganges River, and Indian traders can still use the platforms. Tokenexus is one of the exchanges where many traders in many countries can trade with cryptocurrency. The platform offers reliable services with full scam protection. The exchange works only with two types of cryptocurrencies Bitcoin and Etherium. Fiat currency is Euro. In the future, Tokenexus is going to expand its capabilities and work with several types of cryptocurrencies.

Therefore, choose only reliable brokers, be careful when working with exchanges and follow the economic events of your country. After all, who knows, maybe tomorrow it will be possible to buy goods for bitcoins all over the world.

6 comments

Аватар admin
token nexus
2020-09-10 11:59:13

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Аватар admin
Sharon
2019-07-03 12:10:26

Tokenexus is a cool cryptocurrency exchange platform. I tried differently, but this one attracted me the most. First of all, it’s safe here. For the last year, I have not lost anything, and the money is kept securely. Secondly here is simple. I have never shipped a platform for cryptocurrencies with such a user-friendly interface. Thirdly, technical support. She is worthy of praise. I had glitches in my account and wallet, but the guys immediately helped me and solved my problem.I noticed that the fewer experience traders have, the more they will be outraged and call this or that platform fraudsters. And it is quite natural. An experienced trader must always rely on himself. No exchange can solve your problem, as well as take care of your profits only you. I was like that too. When I first started working with cryptocurrency and something did not work for me, I immediately blamed the whole exchange: deceivers, cheaters, scammers! Only over time, I learned to analyze the situation and be attentive to finance.So, Tokenexus will be useful for as a novice trader and professional. Registration here is simple, no requirements for documents, just a phone number at the initial stages. Among the shortcomings, I would single out the fact that the platform is rather new, so, for now, it is difficult to say anything about it. Not all countries are served here and this is understandable. Many authorities are trying to control the cryptocurrency. I liked the fact that you can trade here even from India since I live here at the moment. It is not yet known what the government will decide in the future, but it seems to me that the cryptocurrency will not leave the market anyway since it is self-interest for the economy. Look at the country: the richer the country, the loyal the conditions for investing in cryptocurrency, right? It’s also bad that the law practice doesn’t want to protect crypto traders, because of this, there are so many deceived people. In the end, if you do not want to face scammers, just choose a reliable exchange. I have already shown an example, the only thing that I don’t like is here: there are only a few languages, a small ping site, and very few currencies that can be traded. Otherwise, I’m happy with everything and very recommend this platform. I wish you a successful trading and reliable transactions.

Аватар admin
Mike
2019-06-30 08:52:11

A good cryptocurrency exchange. Although it has been working not so long, it is a strong enough player. Stable. It is interesting to work.Of the benefits, this is favorable conditions for trading. Low fees for operations, which is very good. Not everywere it can be possible. High transaction speed. Of the minuses, I don’t really like what you need to display whole monetary values. And the rest is a stable cryptocurrency exchange, albeit a young one. It is interesting and pleasant to workwith. And most importantly, you really make money without cheating.Here is a cool implementation of technical capabilities. Especially in the execution of orders for peak network loads, which provides a multi-level architecture of the networkitself. In short, if other exchanges are slowly bent on active trading, orders start to slip with execution, as a result, traders lose profits, everything is executed in a fraction of seconds, so a high number of orders with sharp fluctuations does not affect their execution.

Аватар admin
Jared
2019-06-26 10:39:28

I have been working on the exchange for a year, while there has never been a case of hacking an account, protection seems to be quite good. I think that the exchange itself is often subjected to attacks since its volumes and the number of traders is very attractive. Although, I occasionally observe system branking when trading in a highly active market. I don’t know if this indicates an attack or is it a standard load for traders.In addition, there are standard remedies. For example, 2FA. It is now for many, it uses the frequently encountered google authenticator. In addition, you can put yourself a few additional protection systems, but not all of them are justified. For example, blocking the withdrawal of funds from new IPs is not suitable for those who trade at different points and from another Internet. Although, the protection is good, with a binding to the same IP. Also, for the withdrawal of funds, you need to confirm your documents, this is already a more reasonable measure. At the very worth, convenience almost does not reduce, but the extra protection does not hurt. There is also mail encryption, access restriction in sessions, etc., but these measures seem excessive to me.

Аватар admin
Alex
2019-06-15 20:19:48

Finally, brokerage, or more correctly, investing in the provision of its funds for trading to other players. I get my percentage from this, this is the safest, but the least profitable type of work here. Margin trading can be considered as the most profitable, and then only because the return on equity is very high, but the risks are exorbitant, there is every chance of going bankrupt. But everyone is free to choose his own strategy of work on the stock exchange, this platform offers all possible options.

Аватар admin
Tabitha
2019-06-08 19:40:57

A distinctive feature of the Tokenexus crypto exchange is the fastest trading operations. To be honest, I have never met an exchange at which all trading operations are carried out with the same speed and smoothness. Even after working on other crypto exchanges, there is not much to get used to this platform. It has a clear and easy interface. I was also surprised by a large amount of trading volume per day on this platform. It seems to me that if traders choose this platform, then most likely because of the speed and low commissions.For me, the question of the commission is also very tangible. Since when working at other crypto exchanges for several times, I almost went at a loss. Nevertheless, a very flexible policy of crypto coin rates is implemented on this platform. I mean that after making a deal and conducting a trade operation, the course is fixed for some time. That is why the risk that the rate drops sharply and you lose money is zero.It is a pity that I did not know about this exchange before. Perhaps, in this case, my previous results would be much better. Now I trade in a total of about 10,000 dollars. On this exchange, I sell mostly Bitcoin, since its course is very profitable in relation to the average market rates.Moreover, for investors like me who trade large sums at the exchange, there is a separate platform for trading. This is very convenient since, on this site, the volume and offers for the purchase of selling cryptocurrency are enormous. And like other traders, it is elementary for me to find an offer that is profitable for myself. It is also worth noting that, in addition to Bitcoin, this crypto exchange trades twenty more top crypto coins. Due to this, you do not have to switch between different crypto exchanges and transfer money from one account to another, which in turn makes you pay an additional fee for these transactions.As for the security of work on this exchange, according to other traders who have been working here for quite a long time, during the entire history of this crypto exchange, there hasn’t been a single failure or freezing of the system and hacker attacks. All this suggests that the company is seriously working on the issue of security.I think this exchange has an excellent prospect to become the best crypto exchange on the cryptocurrency market. Although now it occupies one of the top positions because that is how I could find this crypto exchange and learn more information about it and then earn excellent money using its potential.

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