Technology has taken over the world, and it has taken over the world of finance as well. Blockchain technology, digital currencies, and Fintech have changed the way people look at money and funds and have realized the role technology is going to play in finance in the years to come. There are plenty of significant advantages of digital currencies over fiat currencies – the lack of governmental oversight and reduced costs are two of the most important and significant advantages that it brings. Not only does this make this a currency managed by the people and for the people, but it also means that there is no scope for political influences affecting the value of the currency. Apart from being an interesting new avenue of tech, cryptocurrencies provide an easy, reliable, transparent, and anon solution to the problems that traditional fiat currency has. It is also a tremendously interesting source of trade and investment, allowing traders to leverage the differences between fluctuating prices.
An aspect that has kept the layman away from digital currencies, blockchain and fintech is how seemingly complex it is. However, with a reliable broker and a brokerage firm that fits your needs, you can not only trade with relative ease but also understand the process behind cryptocurrencies and blockchain easily through practical experience. However, it is important to choose a reliable and trustworthy broker given that the market oversight on digital currencies in most countries today is negligible.
Meaning Of A Cryptocurrency Brokerage
Before understanding what a cryptocurrency brokerage is, it will help to understand what cryptocurrency is. Simply put, cryptocurrency is a digital currency. It is a digital currency without a single issuing or regulating authority, which is its primary difference from traditional currencies. A cryptocurrency exchange is similar to that of a stock exchange where buyers and sellers of cryptocurrencies meet (in a virtual setting) to exchange the asset based on the present-day market value of it. An exchange can also be termed as a middle man of sorts, and usually levies a commission or a fee for their services. A cryptocurrency broker allows you to trade your digital currency Over the Counter or on an OTC market. The difference between an exchange and a broker is that a broker matches interested buyers of cryptocurrency with interested sellers, bridging the gap between buyers and sellers of the currency. This is extremely helpful, as the interested parties do not have to take an effort in finding each other but can use the help of the brokerage to trade their cryptos.
FinexArena – Is it reliable?
The safety of your financial information is of the utmost importance when dealing with a cryptocurrency brokerage. It should be reliable, authentic, and transparent, and must not engage in fraudulent activities such as withholding deposits and functioning without a license. An ideal way of deciding whether a particular brokerage is the right one for you is to run a quick internet search about it and check the ratings and the testimonials of previous users of that brokerage. There is a sea of choice between different cryptocurrency brokerages, and you must keep in mind that not only should it fit your needs and requirements, but should also be safe and reliable.
Overall, FinexArena seems to be a reputable and authentic option for those who wish to engage in the trade of cryptocurrencies. It deals with various digital currencies, as well as foreign exchange. So for those who want to either trade in cryptocurrencies or foreign exchange, or trade-in both (to increase the diversity of their portfolios), FinexArena is an ideal option. FinexArena provides an easy to use, simple, and reliable interface for its traders. Since its advent, it has also positioned itself as a first to market option and a market leader in the field of blockchain, and as a reliable cryptocurrency broker. Furthermore, one of the most important considerations that people have before selecting or deciding on a broker is to determine whether the said broker is licensed or not. Licensing is important because, in a heavily unregulated market, licensing reduces the scope of fraud or scams. Overall, the license of FinexArena appears to be legitimate and accepted by a recognized authority. Therefore, you can go forward with your trade and investment activities with relative ease and peace of mind.
Main features – FinexArena
FinexArena offers a variety of features to its clients. Here is a review of what the features are, how functional they are, and whether they are useful in the context of cryptocurrency trading.
- Multiple trading platforms: this useful feature allows traders to trade cryptocurrencies both on their computers as well as mobile platforms
- Offers multiple deposit/payment methods, and cash-out options
- Seems to meet the industrial standards required for security
- Has excellent and communicative customer service
- Has a simple, intuitive and easy to understand interface