Currency.com is an exchange for cryptocurrencies and tokenized exchange assets. A complete review of the Currency exchange cryptocurrency exchange: registration on the official website, reviews, verification, entry, deposit and withdrawal, trading, advantages and disadvantages

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Currency.com is an exchange for cryptocurrencies and tokenized exchange assets. It is the first officially regulated trading platform, a bridge between cryptocurrencies and financial markets. The crypto exchange complies with the world AML and KYC standards. Investing, purchasing and trading cryptocurrencies Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple is available; DeFi tokens; tokens of world indices, company shares, raw materials, ETF instruments. Deposit or withdrawal of funds is carried out using Visa / MasterCard, YuMani, bank transfers, cryptocurrency. Fiat currencies are available: US dollar, euro, Russian and Belarusian ruble, British pound sterling. Trading on the Currency exchange is available both without borrowed funds and using up to 500x leverage for traditional markets and up to 100x for cryptocurrencies. There is a possibility of limiting losses (stop loss) and fixing profits (take profit).

Official website of the exchange: currency.com.

The “Welcome Bonus” promotion is now underway. If the conditions are met, you can get 50 USD to your Currency exchange account. See the website for details.

Official website of the crypto exchange Currency.com

From the start, 2000 + tokenized assets are available, which are tied to the market price of the underlying instrument. There are plans to increase their number to 10,000 by 2023. Investors have a real opportunity to invest in popular financial instruments using cryptocurrencies and fiat money. Currency trading terminal is represented by the partner company Capital Com, which is regulated by the financial regulators of Great Britain (FCA) and Cyprus (CySEC). Technologically, it allows servicing 50 million transactions per second. The servers are located on Equinix LD4 host servers.

In 2020, Currency.com cryptocurrency exchange received an award in the category “Breakthrough in Cryptocurrency Trading” from the ADVFN International Financial Awards and was added to the ratings of Coinmarketcap and Coingecko services.

crypto exchange awards Currency.com

The editorial staff of Btcnewsweb.com made a complete review of this trading platform and tested it in operation.

Currency.com exchange for cryptocurrency trading

Currency Exchange (Currency Com Bel LLC) is registered in Belarus and operates in the legal field of the current legislation, in particular in accordance with the decree “On the Development of the Digital Economy”. The company received a license from the Park of High Technologies to carry out activities in accordance with the regulations of the decree. Leadership: CEO Ivan Gowan; COO (Currency Com Limited) Mark Berger; General Manager (Director) (Currency Com Bel LLC) Alexander Shevchenko and others. Investors: Victor Prokopenya and Said Gutseriev.

Overview

Stock exchangeCurrency
Official site www.currency.com,
www.currencycom.by
Beginning of work15.01.2019
Legal address220030 Republic of Belarus, Minsk, st. International, 36-1, office 521.
CEOVictor Parchment
CompaniesLLC “Currency Com Bel” (LLC “Currency Com BEL”)
Manager of Currency Com Bel LLCAlexander Shevchenko
Payer account numberUNP 193130368
AuditorErnst&Young
contact number+375293757075
Supportsupport@currency.com
Registration in the Hi-Tech ParkMinutes No. 08 / НС-6пр dated December 19, 2018
RegulatorNational Bank of the Republic of Belarus, Hi-Tech Park of the Republic of Belarus
Governing LawsDecree of the President of the Republic of Belarus of December 21, 2017 No. 8, other legislation of the Republic of Belarus
SubsidiaryCURRENCY COM LIMITED
InvestorsLarnabel Ventures, VP Capital
Development planWhitePaper
Trading turnover in 24 hoursabout $ 7 million
Number of trading instrumentsmore than 1300
Margin trading (leverage)Yes
Leverage Cryptocurrencies: up to 100x. Commodities (oil, gold): up to 200x. FX pairs (EURUSD and others): up to 500x.
Initial marginfrom 1%
Input and outputbank cards, bank transfers, cryptocurrencies
Fiat money accountsEquivalent: currency tokens USD.cx, EUR.cx, RUB.cx, BYN.cx, GPB.cx
Commission on entryCards: 3.5%. Bank transfers: 0%. Cryptocurrencies and tokenized assets: 0%. More details about commissions and limits.
Minimum I / O limitsCards: 100 USD, EUR; 7000 RUB; 250 BYN. Bank transfers: 50 USD, EUR; 3500 RUB; 50 BYN. Cryptocurrency: 0.01 BTC (withdrawal – 0.005 BTC), 0.1 ETH (withdrawal – 0.05 ETH), 0.2 LTC (0.1 LTC). Tokenized assets: USD 100 equivalent
Maximum deposit amount24000 USD
Withdrawal commissionCards: Visa 2.4% (1.9% MasterCard) +3 USD (2.7 EUR; 150 RUB; 6.5 BYN). Bank transfers: for residents of the Republic of Belarus – 8 USD, 8 EUR, 300 RUB, 0% in BYN; for non-residents of the Republic of Belarus – 0.15% (min 20 USD, EUR), 300 RUB. Cryptocurrency: 0.0005 BTC, 0.02 ETH, 0.04 LTC. Tokenized assets: 1.5% (min 0.02)
Withdrawal regulationsup to 3 working days
Account verification (AML)Yes
Extended verificationYes
Checking qualifications for knowledge of blockchain technology and cryptocurrenciesmandatory upon registration for residents of the Republic of Belarus
Account security2FA Google Authenticator, PGP / GPG, discrete security, high encryption
Data center (server placement)LD4 Equinix
Copying datadaily
Storage method for cryptocurrenciescold
Leveraged Trading FeeCryptocurrency: 0.075% taker; -0.025% maker. Tokenized Assets: 0.05%. Details about trading commissions.
Exchange feeCryptocurrency: 0.2%. Tokenized Assets: 0.0125%. Tokenized bonds: 0.03% Tokenized currencies: 1%
Types of ordersmarket, limit
Stop loss and take profit functionforeseen
Technology partnerCapital Com (UK) Limited; Capital Com SV Investments Limited
CryptocurrenciesBitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple
Tokenized assetsstocks, indices, commodities, exchange-traded assets, ETFs
Language supportEnglish Russian
Currency Token PricesLMAX Exchange Group quotes
Cryptocurrency pricescrypto exchange quotes: Bitstamp, Bitfinex, Gaincapitals
Tokenized asset pricesThomson Reuters
Mobile application for tradingthere is
Multi-accountsprohibited
Social networksTelegram, VK, Twitter, Youtube, Facebook
APIin developing
Age restrictions for registrationfrom 18 years old
Assessment from Btcnewsweb.com8 out of 10

Available tools

Currently, more than 2000 tokenized financial assets are available for trading on the Currency.com exchange:

  1. Cryptocurrencies: Bitcoin, Ethereum, Litecoin, XRP, etc.
Cryptocurrencies on the Currency.com exchange
  1. Raw materials: Gold Spot, Brent Crude Oil, Spot, US Natural Gas Spot, US Crude Oil Spot, Silver Spot, Platinum Spot, Palladium Spot, etc.
Commodities on the Currency.com exchange
  1. Indices: US Tech 100, USA 30, USA 500, Germany 40, CBOE Volatility Index Futures, China A50, etc.
Indices on the Currency.com exchange
  1. Stocks: Tesla, Rivian Automotive, Alibaba, Lucid Group, Apple Gazprom and many others.
Shares on the Currency.com exchange

5. Foreign exchange markets.

Currency markets on the Currency.com exchange

6. Government bonds.

Bonds on the Currency.com exchange

In the future, their number is planned to be expanded to 10,000.

Registration on the website Сurrency.com

Registration on the official website currency.com is a prerequisite for trading. The account creation process is slightly different from other platforms. On the Currency crypto exchange, in addition to the standard form with an email and password, you need to confirm the country of residence and enter your personal data, and go through verification. Residents of the Republic of Belarus are also undergoing a test of knowledge of the basics of blockchain and cryptocurrencies (to confirm their qualifications). To create an account, the user must be over 18 years old, multi-accounts are prohibited. If the account is not used for more than 6 months, it is deactivated, a notification of this comes two months before this date. You will need to withdraw the remaining funds. Therefore, from time to time you need to go to your exchange office.

Here is a step-by-step instruction on how to create an exchange account on the Currency website:

  1. In the registration form, indicate your email and come up with a complex password for entering that meets three conditions: at least 8 characters and must contain numbers and letters. Accept the exchange rules and read the proposed documents.
  1. Confirm your country of residence. If vpn, proxy is used, then you need to select your country from the drop-down list. It is important to note that registration on the exchange is not available for US customers and is prohibited for the following countries: Botswana, Bahamas, Ghana, Democratic People’s Republic of Korea (DPRK), Ethiopia, Iran, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Yemen, Pakistan, Bermuda.
  1. Indicate the address of residence, which can then be confirmed.
  1. Indicate name, surname.
  1. Enable two-factor authentication. To do this, you need to download and install the Google Authenticator application on your phone. Then scan the QR code or enter the key manually. A six-digit code will be generated which is valid for 30 seconds. Enter the code in the line and confirm the inclusion of 2 FA. Important: keep the key in case you lose your phone or uninstall the GA application.
  1. Verify your identity. The Currency exchange complies with AML and KYC rules, so you will need to upload supporting documents. You can skip this option and continue creating an account, but fiat money or cryptocurrency entry will not be available.
  1. Download the scanned (photographed) passport page.
  1. Upload a document confirming the address of residence. This can be a notice for utilities, a bank statement, etc. The main thing is that they contain the data (name, surname and address) that are indicated at the beginning of registration.

List of documents that can be provided:

  1. During the registration process, an email will be sent to confirm it. You need to click “Confirm email”.
  1. Next, confirm your knowledge of cryptocurrencies and answer simple questions. Better to do it yourself without looking at the answers below.
  2. First question: “What is blockchain technology?” Answer: “A sequence of blocks with information about operations …”

Second question: “What is cryptocurrency?” Answer: “Bitcoin or other digital offer …”

Third question: “What is a cryptocurrency wallet?”

The fourth question is “What is a token?” Answer: “This is a blockchain entry …”

The fifth question: “Who guarantees the stability of the cryptocurrency rate?” Answer: “Nobody”.

Answer to the sixth question: “Investing in crypto tokens carries risks.”

  1. After passing all the stages, a notification will appear that you can start getting acquainted with the Currency platform trading terminal.

The verification process will take a little time, but before it is completed, the “In the process of verification” status will be displayed in your Currency account:

Verification completion notification will be sent to email:

In the personal account of the Currency crypto exchange, it will be possible to replenish the account and trade:

Login to your Currency exchange account

To enter the official website of the Currency exchange, you need to click “Login” in the top menu of the page.

Enter credentials, i.e. passwords and email:

Specify the 2FA code that is generated by the Google Authenticator app:

Site overview

Let’s consider the main sections of the site currency.com:

Top Menu:

  1. “Trading mode selection”: trading without leverage and trading with leverage (with leverage).
  2. “Wallets”. Selecting an account (currency tokens or cryptocurrency) and replenishing its balance.
  1. “Top up account”. A quick option for depositing money to a toned account selected from the list.
  1. “Balance display”.
  1. “Menu”. Sub-items: “Deposit money” and “Sign out of the account” “.

Sidebar:

  1. “Trade”. Go to the trading terminal of the Currency crypto exchange.
  2. “Charts”. View added graphs.
  3. “Portfolio”. Investments on the platform.
  4. “Reports”. History of transactions and deals.
  5. “Help”. Section for contacting support.
  6. “Settings”. Change various settings for a user account.

Cabinet settings

In the settings of the Currency.com exchange, you can change the following parameters:

  1. “Setting up the platform”. In this section, the language of the site is changed and the schedule is configured, the time interval and type are set.
  1. “Account”. The account verification status and detailed information about its owner are displayed. Here you can also deposit funds to the balance.
  1. “Change password”. The function is only available through contacting support.
  2. “Two-factor authentication”. Switching on and off. We recommend that you enable 2FA, this will protect your account on the Currency.com exchange from hacking by 99%.

Account replenishment

To replenish the balance of the Currency exchange, you first need to go through verification, that is, confirm the registration data. Only after that you can transfer fiat money or cryptocurrency to your personal account balance. In Currency, this procedure is called buying a token. For example, a dollar account is called a currency token USD.cx, etc.

You can make a deposit in the following ways:

  1. Click on the top menu of the site “Wallets”.
  2. Select “Menu” – “Deposit funds”.
  3. Click on the “Add funds” button.

We use the first option. We have access to buy an account in currency tokens (fiat money) and cryptocurrency:

  1. US Dollar (denoted by USD.cx). Equivalent to US dollar.
  2. Euro (EUR.cx). European currency.
  3. Belarusian ruble (BYN.cx). Belarusian ruble.
  4. Russian ruble (RUB.cx). Russian ruble.
  5. Ethereum (ETH). Ethereum cryptocurrency.
  6. Bitcoin (BTC). Bitcoin cryptocurrency.

For example, a US Dollar wallet can be topped up (click “Deposit”):

  1. From a bank card. As of 02/07/2019, Visa cards are accepted.
  2. From a bank account.
  3. From another USD.cx wallet.

Let’s consider in more detail:

✅ When replenishing through a card, you will need to specify the amount (when replenishing a dollar account, the minimum amount is $ 250, the maximum is $ 25,000) and select the purchased currency token: 

Indicate card number, expiration date and CVV-code:

When buying a currency token BYN.cx (Belarusian ruble) from a card, the minimum amount is 100 BR, the maximum is 10,000. For the RUB.cx token (Russian ruble), 10,000 and 1,000,000 RUB, respectively.

✅ Bank transfer is carried out according to the specified details. They can be copied, printed or sent by email. With the details, you can go to any bank and make a payment. The Currency Exchange does not charge any commission for wire transfers. But the sending bank can withhold its commission for this operation. Before translating, you need to clarify this point.

✅ Using a virtual address (transfer from another wallet): 

Cryptocurrency deposit

To add Bitcoin or Ethereum cryptocurrencies to the Currency exchange, you need to transfer them to the generated wallet address. It is necessary to click “Deposit” in front of the desired coin and transfer the coins to the specified cryptocurrency address. After the required number of confirmations in the blockchain network, the funds will be displayed in the wallet of the exchange account.

Withdraw funds

Withdrawal of currency tokens is possible to a bank account or to a card. Regulation – up to three banking days.

You need to click in front of the token “Withdraw”, specify the amount and details of the bank account or card.

The withdrawal of cryptocurrency is carried out to the specified address of the cryptocurrency wallet:

The transaction must be approved:

You can track the process in the “Reports” section. At the first stage, the status is “Under review”:

Cryptoexchange fees and limits Currency

The following types of commissions are set on the Currency.com exchange:

  1. For exchange, for trade; for hedging; leverage for long-term transactions for each trading instrument:
  1. There is no fee for entering cryptocurrency and tokens. Payment for confirming a transaction in the blockchain network (for cryptocurrencies and tokens) when withdrawing from the exchange: for bitcoin – 0.0005 BTC; for Ethereum – 0.02 ETH; for a token – 1.5%.
  1. Fee for deposits or withdrawals when purchasing USD.cx currency tokens:

EUR.cx wallet:

RUB.cx wallet:

BYN.cx wallet:

In English:

As you can see, commissions on the Currency exchange are small. Cryptocurrency deposit is carried out without commission.

Trade, buy and sell cryptocurrency and tokens

To trade on the Currency exchange, you need to enter the site and go to the “Trade” section.

Further instructions:

  1. Select a tokenized asset: stocks, commodities, indices or cryptocurrency. You can view actively growing, falling, high volatility markets.
  2. For example, we are going to trade Bitcoin cryptocurrency. Select “Crypto”, currency pair and click on it. A chart of the asset of interest appears. Bitcoin to US Dollar means that Bitcoin is trading against the US dollar.
  1. You can add various technical analysis indicators, levels, channels, figures to the chart; change the display type; set the required timeframe; expand to full screen; increase, etc.
  1. Choose the type of trade: with or without leverage. In the first case, a deal can be made not only for the purchase, but also for the sale of the asset. The leverage for each instrument is different (maximum 100x): for Bitcoin 2x and 5x.

Trade without leverage

When trading without leverage, you need to specify the amount of the purchased asset (enter a number or click on the percentage scale) and click “Buy”. This will be a market buy. If you select “Buy when the price is”, it will be a limit purchase with the specified price. In a limit order, you can specify the date of its cancellation if it is not executed.

Leveraged trading

When using borrowed funds (leveraged trading), you can open deals with a larger volume than the account has. For example, the balance has 0.1 BTC. If you choose a maximum leverage of 5x, you can create an order with a volume of 0.5 BTC. This increases the size of the possible profit, but trading risks will also increase.

When placing an application, you must indicate the number and size of the leverage. It is worth clicking “Prepayment” to find out the trading commission and the necessary funds on the balance to open a deal with the specified volume. For example, when buying 0.5 BTC with 5x leverage, you need to have 0.09950752 BTC on your account, and the commission will be 0.00049754 BTC.

To protect against risks, it is proposed to set a stop loss (“Sell if the loss is”) and a take profit (“Sell if a profit is”). Specify the amount of profit or loss, upon reaching which the transaction will be closed.

To exchange a currency token (fiat money) or cryptocurrency for a tokenized exchange asset, click “Buy”.

Currency trading example

Leveraged Limit Trade

For example, limit buy bitcoin (Bitcoin / USD):

  1. The application will be executed when the rate reaches $ 10,600. If the slider opposite the “Buy when the price is” line is not activated, the order will be triggered at the current market rate, ie $ 10661.
  2. The leverage used in the example is 2x. Prepayment (funds that must be on the balance of the Currency account for a given leverage) – $ 53.
  3. You can set stop loss and take profit according to the trading strategy, while taking into account the trading commission. When finished, click “Place a request”.
  4. In the “Portfolio” section, open orders “Deals” and limit “Orders” are available for viewing.
  1. A limit order can be canceled until the price reaches the specified level.
  2. As you can see, funds are reserved for the deal – $ 53. This is commonly referred to as maintenance margin on exchanges. It acts as a pledge and will be withheld if the position is liquidated. The higher the leverage, the lower the collateral.

Market trade with margin leverage

An example of opening a position with margin leverage on the market (instantly) to buy Bitcoin:

  1. The size of a buy order is 0.02 BTC (10% on a scale of the available margin).
  2. The order is executed at the market price, since the “Buy when the price is” parameter is not activated.
  3. Prepayment – $ 42.77. This means: to buy bitcoin in the amount of 0.02 BTC with 5x leverage, you need to have at least $ 42.77 on your balance as collateral.
  4. We have set the stop loss parameters: if the asset price drops to $ 10473, the trade will be closed with a small loss.
  5. Going to the “Portfolio” section, we see that the position is active. In our example, the unrecorded (unrealized) P&L profit is + $ 0.38.
  1. For your information, on the Currency exchange, take and stop values can be set after opening an order.

How to close a trade position

There are two ways to close a position on the Currency exchange:

  1. Stop and take parameters.
  2. By market.

An example of closing an order by the market:

✅ Click on the “cross”:

✅ Click “Buy” or “Sell”. The deal will be closed by opening an opposite order.

✅ Trading results are presented in the “Reports” section. The commission for trading with a leverage of 0.2% is deducted when placing a position and closing a deal.

Advantages and disadvantages

Crypto-exchange Currency is fundamentally different from all other existing platforms. Let’s note the main advantages:

  1. Officially regulated by the National Bank of the Republic of Belarus and the Hi-Tech Park. Accordingly, low non-trading risks.
  1. Works in accordance with the Decree of the President of the Republic of Belarus No. 8 “On the Development of the Digital Economy” dated December 21, 2017, according to which funds received from the exchange (for citizens of the Republic of Belarus) are not subject to taxation.
  2. Trade in tokenized assets: stocks, indices, commodities.
  3. Official purchase of cryptocurrency.
  1. A large number of available financial instruments 150+. By the beginning of 2020, their number is planned to increase to 1,200, and by 2022 – 10,000 assets.
  2. Investing in tokenized exchange-traded assets using cryptocurrencies and fiat money.
  3. High level of protection of customer data.
  4. Deposit / withdrawal of funds from a bank card, bank transfer.
  5. High speed of data processing.
  6. Compliance with AML and KYC.
  7. Low fees. There are no fees for entering fiat money and cryptocurrency.
  8. Margin trading with up to 100x leverage.
  9. Stop loss and take profit.
  10. High liquidity.
  11. Advanced trading terminal.
  1. Competitive offer on the market.

Testimonials

Currency is the first regulated crypto exchange to invest in exchange markets using cryptocurrencies and fiat money. It has an increased level of security and data protection. Clients are maximally protected from non-trading risks. In April 2019, the exchange left beta mode, and registration became available to everyone. Users note a convenient and logical trading terminal, a wide selection of instruments and markets, as well as low commission fees.

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