Fiat to Digital Currency Exchange Services – Enabling Investor to Buy Crypto with Debit Card
Other than ethereum, dogecoin, tether, and bitcoin thousands of other digital currencies are skyrocketing in terms of the market cap each year. No doubt, digital crypto money is providing a minimal level of empowerment to the financial firms, the public, and the government sector. Since the emergence of cryptocurrencies, investors, and traders across the world are eager to become part of this continually evolving crypto space. To facilitate the mass audience crypto exchanges have emerged to fulfill consumers as well as infrastructure requirements. Since its inception in 2017, the $1.7 trillion crypto market’s traction has been significantly increased as most of the businesses are now adopting digital currencies as payment gateway. Hence, money trading with digital currency is becoming a new norm.
However, cryptocurrencies are a new form of exchange, yet only a decade old, that is based on blockchain technology and secured by cryptography. This technology revolutionized the way of encrypting digital money details making it impossible for criminals to scam individuals along with overcoming the chance of spending twice. Like paper-based currency, digital crypto money is used to purchase items or pay for services. Moreover, many businesses, as well as governments, have come up with their own digital coins. For instance, gambling chips that customers can buy from fiat money in order to access the services.
Digital Currency Trading Platform and Exchange
Today, there are around 200 digital crypto money exchanges across the world that are providing 24-hour cryptocurrency trading services along with enhanced customer support channels. These digital currency trading platforms enable crypto enthusiasts to purchase, sell and trade digital assets or coins either with other cryptocurrencies or fiat money like dollars. In addition to this, buying digital currency with credit card is also now becoming easy with fiat to digital currency exchange and platform. However, not every digital platform or exchange allows customers to use coins other than Bitcoin or ether, thus the investors always use multiple platforms to fulfill their needs.
Moreover, the quality along with the types of services varies from exchange to exchange, some are best for the beginners that are new in this industry, while on another handsome are mature enough that are facilitating businesses as well as experienced traders. Based on the type of service and the jurisdiction in which the businesses are operating, exchanges are governed by the local government as well as financial watchdogs. In addition to this, some exchanges are not regulated due to which they are inaccessible to global customers, and also are vulnerable to financial criminals.
However, after China conducted a cryptocurrency crackdown in November 2017, the digital currency trading platform and exchange were forced to transfer their operation out of China or terminate them. In addition to this, some other exchanges were also suspended that were providing services to Japanese clients as per Japanese Financial Services Agency regulations. Moreover, the exchange operating in the US is also subject to federal as well as state regulations.
Furthermore, there is a significant increase in the number of digital assets global exchange. Thus, the crypto market is becoming hyper-competitive, every exchange operates on its terms with different fee structures, trading features, accessible coins, security measures, and insurance coverages. Most digital crypto money exchanges operate on a maker-taker model to charge trading fees, in which takers are the entities that place the orders on behalf of the investors, removing market liquidity. Whereas makers place orders below the ticker price of crypto to buy and once it’s above sells them out. Makers increase the market liquidity and are rewarded with lower fees.
Onboarding Fiat to Digital Exchange Step by Step Procedure
To avail fiat to digital currency exchange services, the user needs to create an account on their desired cryptocurrency exchange, it then allows you to buy, sell and trade digital crypto coins or tokens like Dogecoin, Litecoin, Polkadot, ether, bitcoin, and so on, the array never ends. Depending on the type of exchange, there is an option that allows one to use fiat currency to buy coins and later to trade them with other cryptocurrencies.
The more mature and well-established exchanges can provide more services and access to a large range of digital currencies and tokens. Still, you need to comprehensively check the platform whether it is providing the cryptocurrency that you are in search of, before setting up an account.
Lastly, once the account is created, you can simply buy digital currency with a credit card, so that you can trade them with other digital coins to gain instant profits. Other than this, you can also convert back the cryptocurrencies into fiat money, hold them as cryptocurrency itself, or withdraw them. However, the available services vary from the exchange you are using. For instance, many digital currency trading platforms and exchanges do not permit you to move the assets placed on the platform to your own virtual assets wallets.
Fiat to Digital Currency Exchange Services- Trading Procedure
To start with cryptocurrency trading, you need to top up the exchange digital currency online or link your crypto wallet with the platform. For security reasons, it’s considered crucial as well as suggested that you set up the exchange account with personal wallets.
You can check the trading prices of the different digital coins as it varies from coin to token. However, the digital currency exchanges and platforms do not set the trading process, they are set from the market findings, and most platforms come with continuous changes in the pricing. Moreover, having in mind the fact that the cryptocurrencies are decentralized in nature, a slight price variance takes place.
Now, once the third-party wallets are integrated into the platform, you can buy the cryptocurrencies, for both holding and trading purposes. Depending on the nature and type of the cryptocurrency exchange, the online cryptocurrency brokers charge an extra fee for trading services. Unlike conventional stock markets, where the trading fee has reduced in past years, digital coin debit card trading cost is increasing. However, the fee charges may go high as 5% or more.
With global digitization, cryptocurrencies and virtual assets are becoming significantly important, due to which the global investors are routing towards this industry. Moreover, with the advent of cryptocurrencies and the increase in their demand, digital currency trading platform and exchange are also emerging that are enabling investors to buy digital currency with credit card. However, there are heaps of cryptocurrency exchanges that make it hard to make decisions, on which platform you need to get on board. Coinlager is marketing leading digital crypto money trading platform that permits buying digital currency with fiat. Moreover, you can also integrate your own digital wallets to experience a seamless trading experience with utmost security.