Cryptocurrency, very simply put is a digital currency that utilizes blockchain technology. It is different from the traditional currency in the sense that it does not have any central authority (such as a government or a bank) regulating it. Foreign exchange, as the name suggests is the currency of various sovereign economies of the world. The fluctuating prices between different currencies (whether floating or fixed) enable its tradable component.
A cryptocurrency exchange is similar to a stock exchange where buyers and sellers meet to exchange the currency depending on the market value of the same. The exchange adopts the position of the so-called middle man and usually charge a small fee for their services. On the other hand, a cryptocurrency broker trades your crypto via a dealer network termed as an Over the Counter or OTC market. Brokers usually source buyers or sellers who hold a large amount of cryptocurrency and match them with each other. Cryptocurrencies and FX have several advantages. Some of them are as follows:
The main advantages of using Cryptocurrency are as follows:
- Free from governmental oversight and control: Cryptocurrency allows the two parties to the transaction to directly interact with each other and does not involve a third party. This ensures transparency and total control over the transaction for the parties involved.
- Low processing fees: Unlike traditional currency or even online banking transactions (including your ATM processes, debit, and credit cards), cryptocurrency transactions directly involve only the parties to the transaction making the processing fees minimal compared to traditional currency processes.
- Global Phenomenon: In the short time (at least compared to the existence of traditional currency and banking processes that have existed since times immemorial), blockchain tech and cryptocurrency have gained global traction since the short time that it has been introduced. Albeit confusing for the average person due to the intricate processes behind crypto, enlisting the help of a cryptocurrency broker such as Royalstox can be tremendously useful for those looking to expand their knowledge of Cryptocurrency and diversify their investment portfolios.
What Are The Main Features Of RoyalStox That Make It An Ideal Trading Platform?
RoyalStox offers a wide range of assets that can be traded: As it so happens, people while engaging with a cryptocurrency broker want a wide range of options and assets that they can trade in, in a single platform. They do not want to go from one website to another looking to trade in various components. RoyalStox offers both FX (Foreign Exchange) trading as well as trading cryptocurrencies. RoyalStox offers over 15 currency pairs that traders can choose from, as well as a wide range of other assets. They also offer cryptocurrencies, CFDs, and stocks, making it a comprehensive and ideal solution for those involved in trading cryptocurrencies.
Ensuring the financial safety of their clients: RoyalStox is a registered cryptocurrency broker that is regulated by the Cyprus Securities and Exchange Commission in the country of Cyprus. One of the most important things, if not the most important thing while dealing with a cryptocurrency broker is ensuring that the said broker is free from scams and other fraudulent practices. This brokerage overall seems to be a reputable and authentic brokerage dealing with cryptocurrencies, given that it is regulated by the Cyprus Securities and Exchange Commission and the FCA. It also follows the international requirements of KYC (Know Your Customer) policies and possesses high-level encryption to ensure that the financial information of the traders remains safe from hackers, malware and other types of threats. Therefore, given that the security measures are robust and free from threats, the trader can engage in his investment and trading activities without worry.
Wide range of payment and account options: It is unlikely that everyone has the same amount of money to invest in trading, and is also unlikely that everyone uses the same homogenous payment methods. RoyalStox ensures that these issues are adequately and effectively dealt with. They have a wide range of payment options, that allow for easy cash out and deposits as well as a wide range of account options. Depending on how much you are planning to trade, and the extent of your investment plans, you can choose the type of account that is most ideal for you. The various types of accounts are as follows:
- Micro Account
- Standard Account
- Platinum Account
- Premium Account
- VIP Account
Therefore, for all those who are confused as to whether to delve into trading cryptocurrencies or FX, they can consider RoyalStox as an ideal option for their trade. Apart from the features mentioned above, RoyalStox also seems to have great customer support and provides access to educational resources for the investors making it an ideal choice. Cryptocurrency trading can be complex for the uninitiated, and RoyalStox can simplify things a great deal.