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Bitcoin Trading Platform Review – Paxful.
Buying Bitcoin remains one of the biggest hurdles to mainstream consumers. Luckily, it appears more and more platforms are coming to the market. Paxful is becoming a rather popular Bitcoin trading platform, as it allows users to instantly purchase cryptocurrency. Let’s take a closer look at what makes this platform so unique.
Paxful Is An Appealing Choice to buy Bitcoin.
The business mission of Paxful is all about creating a secure and fair platform to trade cryptocurrencies. The company likes to portray itself as being the PayPal and Uber of Wall Street for the average person. That is a bold statement, but the Wilmington-based company feels they can become such a driving force in the future.
As one would come to expect from a platform such as Paxful, the main objective is to let users buy Bitcoin. This is made possible by accepting several hundred payment methods around the world. Some of their popular payment solutions include Amazon Gift Cards, PayPal, Credit and Debit Cards, and Western Union. On paper, the platform has all of the right tools to provide as a way to instantly purchase Bitcoin anywhere in the world. Do keep in mind there is a 1% fee for sellers, though.
However, Paxful is not just about buying Bitcoin, as users can also sell cryptocurrency through the platform. Vendors are more than welcome to join the platform, as there is always a growing demand for cryptocurrency. All traders are held in escrow until the payment is made and verified by the seller. Additionally, Paxful also has its own reputation system, which allows both buyers and sellers to make a name for themselves.
Paxful also has an affiliate program in place. This feature is known as the Bitcoin Virtual Kiosk offer. Any affiliate who refers people to Paxful to buy Bitcoin will earn 2% of their purchase. A similar program exists on LocalBitcoins, another popular peer-to-peer Bitcoin trading platform.
Unfortunately, it appears the platform has to deal with its fair share of scammers. That is not entirely surprising, considering buyers and sellers are directly dealing with other human beings when conducting a trade. This does not mean Paxful is not legitimate though, as the company does everything they can to prevent scammers from defrauding other users. Buyers and sellers always need to do their own research before agreeing to a trade with a stranger on the Internet, regardless of what payment method is used.
All things considered, Paxful is quite a powerful platform. There is no real reason to use it over LocalBitcoins necessarily, although their wide range of accepted payment methods gives Paxful a competitive edge. Users need to take the necessary precautions to ensure they are not scammed by another person. The secure escrow system by Paxful will help in this regard, yet it is not a perfect solution. In fact, no platform has a perfect solution when it comes to converting irreversible cryptocurrency to and from reversible payment methods.
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About The Author.
JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.
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Coinigy Review – Multi-Exchange Bitcoin Trading Platform.
Though a relatively late starter in the world of virtual currencies, Coinigy.com is a legitimate site, which passes the first few criteria of our “scam filter” almost at first glance. It’s easy to view the operation as a legitimate one, since it doesn’t offer anything that’s too good to be true, and it doesn’t dangle the possibility of making fabulous sums of money with a minor cash investment, like cryptocurrency scams usually do. Indeed, Coinigy is not about cloud mining or Bitcoin mining in any shape or form, nor does it feature a high-yield investment pyramid, or auto-trading. It brings a legitimate service to bear, one that – according to its own motto – people will wonder how they ever lived without.
What exactly does Coinigy offer?
Launched in early 2015, the service was essentially a multi-trading platform, which offered access to some 15 crypto currency exchanges. It centralized data, and it laid it all out in an easy-to-digest format, through a visually appealing dashboard, which offered superb charting and equally impressive order-execution. The reason why we speak of the above in past tense is that since, Coinigy’s capabilities have been substantially upgraded. Now, digital currency traders can access more than 45 exchanges, and the platform has been updated in several other regards as well.
An Android version has been launched too, allowing Bitcoin traders to have a 360 degree view of all their exchange accounts and access to a variety of charting/trading solutions in the palm of their hands. The Coinigy platform is a cloud-based one, and it never holds any of the users’ funds, so its security is bullet-proof. Just to be on the safe-side, it also uses two-factor authentication.
All that sounds reassuring and impressive, but what exactly does Coinigy deliver to you, the small-time, retail Bitcoin trader? To start with, it makes trading possible directly off the chart, a feature the true virtues of which are brought into full effect by the fact that Coinigy features some 75+ technical indicators too. Such indicators are great for short-term trading, and they work for all the exchanges supported by Coinigy.
Low-latency data feeds make sure that the prices featured by the platform are accurate. Traders can choose to receive a number of price-related alerts, in their browsers, as well as through email and SMS. To round out the offer, third-party app integration is also possible. Traders can add Google Sheets, as well as a number of Crypto tickers to their Coinigy accounts. The social scanner filters out crypto currency mentions from social media chatter and the chart scanner facilitates the quick and easy location of unique trading setups.
To make it all better, there’s a free trial feature too, that allows traders to slowly dip into this seemingly intimidating sea of trading features, which can indeed take a while to master.
Coinigy currently supports Bitcoin, Litecoin and Ripple.
Available cryptocurrency pairs on the Coinigy trading platform include LTC/BTC, XRP/BTC, BTC/EUR, LTC/EUR, XRP/EUR, BTC/USD, EUR/USD, LTC/USD and XRP/USD.
From Coinigy.com’s About Us page.
Based in Milwaukee, at 310 E Buffalo Street, Suite 120, Coinigy’s phone number is +1.414.301.2289. One of the founders, and the president of the operation is William Kehl. The other founder and CEO is Robert Borden. As you can see in the above image, the About Us page features photos of every one of the management team members, so there’s full transparency in this regard.
The community chatter regarding the services offered by Coinigy is overwhelmingly positive. We didn’t actually come across a single negative post regarding the operation.
At bitcointalk.org, the thread dedicated to Coinigy is mostly taken up by thanks from community members for the features brought about by the platform. Many have stated that they are simply addicted to the platform and they need to find ways to spend less time on it.
The first post in the said thread was made by a Coinigy spokesperson, who started off by listing the features offered by the platform, on February 2, 2015. Most of the bitcointalk posts about the platform seem to be limited to 2015 though.
Over at reddit, the community seems a tad more reserved regarding the advantages offered by Coinigy, but the bottom line over there too is that the service is useful. There have also been some complaints regarding the pairings used by Coinigy’s Arbmatrix feature, but nothing major, so it’s safe to conclude that Coinigy is well-regarded across the crypto community board.
Needless to say, the coinigy.com domain registration information is public. The registrant is William Kehl and the domain has been registered in December, 2013. The registrant’s address is the same as the above detailed corporate address. Phone numbers and other bits of information match as well.
The global Alexa rank of Coinigy.com was 14,320 at the time of writing, which is very impressive indeed. Most of the website traffic seems to come from the US, where the local Alexa rank of the page is 6,044. Australia, India, France and the UK seem to be where the rest of the Coinigy traffic is mostly drawn from.
The domain authority rank of the site is 31/100, which is indeed decent. It also carries a 2/17 spam ranking though. The page authority is 40/100. Several of the top industry participants link to the site, so its backlink profile is indeed natural and healthy.
The Coinigy reviews posted by various crypto currency portals are all positive. The point of debate in these reviews doesn’t concern legitimacy. It’s mostly about whether Coinigy is indeed the best such platform, or if there are better alternatives.
Coinigy Review Conclusion.
Coinigy is indeed a genuine, legitimate crypto currency trading application, which offers its users access to a wide selection of exchanges, trading tools, technical analysis indicators and third-party apps. Nothing about the Coinigy pitch is even remotely suspicious. There’s full transparency in regards to every single aspect of the operation. Is it the best such solution out there? That’s debatable, but it is very close to the top indeed.
What’s your opinion about Coinigy? Let us know by commenting below.
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Actually Coinigy is an excellent solution to use as a front end to trade on multiple exchanges all in one place.
The problem I was having had to do with adjusting the screen viewing size on my laptop. It was very frustrating until Coinigy tech support helped me figure it out. It was a combination of cockpit error on my part and peaks in the traffic volume that has affected everyone in the world of crypto.
Have you found other viable options?
On Jan 5, 2018 at 4:08 AM, wrote:
Did you found a better crypto trading platform ?
12:11 AM Friday Dec. 29, 2017.
I have not had a good experience at Coinigy so far. Sketchy AI based support. Confusing tutorials teach on screens and links that are not actually available to the subscribers.
A bit of a bait and switch in my opinion. Especially since they quote a month subscription rate but then clip for 12 months all front in advance.
I am still trying to get them explain the missing buttons and links which are on tutorials but nowhere to be found on the actual site.