In 2009, BitCoin came into existence and brought with it a handful of skepticism about online currencies. As the years went on, people never considered the possibilities of what could be, including me. But in 2016 and 2017, BitCoin made headlines for its incredible growth over a short span, reaching a peak of $25,000 per coin.
Today, the crypto market is a powerhouse in investing, and a safe haven for most investors during the pandemic. Despite the stock market seeing record lows, the crypto market is doing better than ever. And with the help of Wynn-Ex, you can easily start your career in crypto trading.
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Implementing the Full KYC Policy
The KYC policy is a set of rules that banks and various financial institutions have to follow to operate. However, most crypto exchanges do not qualify for a financial institution. Therefore, there are certain parts of the policy that they can skip entirely. This lack of clarity often works in an exchange’s favor, as they can exploit certain provisions.
Regardless of the benefits, some exchanges decide to implement the entirety of the KYC policy. Among these many companies accepting responsibility is Wynn-Ex. This fact about the company took me by surprise. Since they are following the KYC policy down to the letter, they are turning down a lot of profit.
Moreover, as they are implementing the full policy, they are offering their customers a safe trading environment. They offer better security and have more safety measures in place that avoid any possible issues.
Another advantage that comes with implementing the policy is that they can single out users that may pose a threat. Whether they are using fake initials or faker documents, Wynn-Ex can find out and keep them away.
Since cryptocurrencies skyrocketed in fame in 2017, the number of cryptocurrency exchanges also grew significantly. So you can say that the market is a little oversaturated. Despite trading for many years now, I was still taken aback by the sheer number of exchanges you can find.
Therefore, to stand, exchanges have tried various tactics. From bonuses to features and perks, anything that would bring in more traders they tried. So it may not come as a surprise that Wynn-Ex also offers unique features.
These features include a dedicated OTC desk as well as a free wallet.
OTC Desk Trading
Over-the-counter desk trading allows clients to purchase large quantities of any cryptocurrency. Usually, there is a short waiting period if you want to invest in a cryptocurrency as popular as BitCoin. Even if it is a small amount you will have to wait first.
However, with the help of OTC desk trading, clients can bypass the wait time entirely. This is for people who are looking to buy a lot of BitCoin in a short time. By trading through an OTC desk, they are able to offer competitive prices and keep the buyer’s anonymity intact.
A Free Wallet
Other than offering over-the-counter trading to their customers they also provide a free wallet to help you store your crypto. Online wallets are necessary to help store your cryptocurrencies. But you might have trouble trusting a specific wallet provider, as they are responsible for your assets.
Therefore, instead of going to another crypto wallet provider, Wynn-Ex offers you one for free. While I do lack some features, it still serves its purpose of storing cryptocurrencies very well. The wallet will place all of your funds in cold storage, which only gives you access to the funds inside.
Trade with Multiple Currencies
Most crypto exchanges operate from within the US, and therefore only use US dollars when investing. This is a major barrier to entry for traders that are not in the US. Traders will first have to convert their currency into US dollars and then trade.
Other than being a barrier to entry, it also has more steps than necessary. First, they will have to find an exchange, then convert their currency, and then finally come back to trade. If only exchanges offered their traders the ability to invest through multiple currencies. I for one have found myself at the receiving end of the aforementioned converting journey and trading.
Wynn-ex allows their traders to trade in both US dollars as well as Euros. Now people that are living in Europe do not have to first convert their currency into US dollars to trade. Moreover, other traders will have more versatility when choosing their preferred currency to trade-in.
Traders will always want to trade in the currency that they use in their daily lives. And if they are not able to do that, they will look for another exchange that allows them to use their preferred currency.
Easy and Quick Registration Process
Registration can often be a tiring process. Traders have to fill out the various forms and give their personal information to brokers. While that is stressful enough, exchanges can take multiple days or weeks before responding to their new traders. This is a long time that traders have to wait before they can start trading.
However, most exchanges are understanding that a slow registration process can be detrimental to a trader’s morale. Therefore, exchanges like Wynn-Ex work hard to ensure that their registration process is quick and seamless. They will try to reply in one or two days, but at most they will reply in three days.
Take Your Trading Journey Slow
Trading is quite difficult. Despite what most gurus will have you believe, trading can be very difficult. It can be especially difficult when you do not have the knowledge or training necessary to trade. Therefore, when you start trading you should always take it one step at a time. Understand the rules of the trade, and learn to read trends and patterns in a market. Then use this knowledge to make an educated and calculated risk. This is how you will slowly improve your trading skills and make the most of your investment.
The one thing that I might wish to mention here is that Wynn-EX should do more and put some training material on the website to show new traders and investors what cryptocurrencies are all about. These people are hugely curious about trading digital coins. However, in most cases, they don’t know what cryptocurrencies are and the way they’re different from fiat currencies. thereupon information on the website alongside another training material, I feel Wynn-EX can become one among the simplest exchanges in coming days. As for now, if you’re curious about trading digital coins safely on the web, I like to recommend Wynn-EX.