Cryptocurrency has been on the rise for a few years now, and it’s becoming increasingly popular as people realize the benefits of a more straightforward currency. This popularity has led to an explosion of cryptocurrency exchange platforms.
While all of these exchanges are undoubtedly convenient, not all of them are created equally. One such exchange, Profitrade247, has a lot to offer in terms of diversification, security, and ease of use.
What if you want to trade your BTC to stocks or gold? Introducing Profitrade247, a trading platform that lets you trade crypto, fiats, precious metals, and equities all in one place.
What is Profitrade247?
Profitrade247 exchange has been around since 2020 and is one of the platforms to offer trading digital money and other securities. In addition to cryptocurrencies, you can purchase different assets such as fiat currencies or precious metals alongside equities.
Its unique “Anything-to-Anything” trading experience is convenient for users since they can exchange any item for another.
Profitrade247 certainly offers features that are not available with other exchanges. One of its most valuable benefits is the ability to convert fiat currency into cryptocurrency instantly for free. Other exchanges would usually charge a fee for the same service.
The exchange offers 27 different national currencies, 65 cryptocurrencies, and 50 U.S. stocks that it can instantly convert to any supported assets.
In addition, Profitrade247 guarantees currency conversion at the best possible rates since it uses an internal system that connects over 80 legacy financial institutions and payment networks worldwide.
Is Profitrade247 safe?
Yes. Profitrade247 exchange is safe for its users as it has an intricate encryption system that’s fully compliant with banking standards. Penetration testing and security audits are performed regularly by security professionals.
For added safety, the company also has a dedicated cybersecurity team that constantly monitors accounts and transactions to make sure everything is safe.
Profitrade247 is regulated by the U.S. Securities and Exchange Commission (SEC) and multiple European agencies. This means users’ digital assets are fully protected against hackers and human error.
Platform & Features
Profitrade247 exchange is available in a web-based version and a mobile app, boasting a minimalistic design for beginners and advanced crypto-traders.
The exchange has straightforward trading options. You can buy or sell any supported asset, set price alerts, and send money to other members instantly using their online address system for free.
One of Profitrade247 best features is that it offers automated trading through an API program. Developers, small business owners, and financial experts can program their bots to automatically make trades under certain conditions. The platform also has integrations with various software, including third-party crypto wallets.
Profitrade247 Fees & Commissions
Profitrade247 exchange offers an all-inclusive pricing model. When you trade, the price you see is the price you pay. Unlike many competitors, Profitrade247 exchange fees are fixed pre-trade.
Profitrade247’ spread on BTC and Ethereum is usually up to 1.2% in the U.S. and Europe. In other areas of the world, it is generally around 1.8%. Spreads can be significantly larger for lower liquidity cryptos and tokens like OXT, ADA, OXT, DOGE, AXS, and others.
In addition, there is a 3% spread on top of the bid-ask price for precious metals and a 0.2% spread for major currencies like the EUR, USD, and GBP. For U.S. equities, the spread is usually 1.0% which can further increase when trading outside market hours.
Some things to remember:
Profitrade247 uses real-time data from many exchanges to create its charts and show its current mid-market price. When you trade, you get the current bid or ask price depending on whether you’re buying or selling.
There is always a tiny discrepancy between the mid-market and the bid/ask prices. This is how order books on exchanges function.
Profitrade247 does not charge any deposit fees, withdrawal fees, or trading commissions. It offers no inactivity or maintenance charges. However, it does charge a spread.
Charges for withdrawal to an external cryptocurrency wallet are passed on at cost and may be altered depending on network congestion.
Conclusion
Is Profitrade247 a good exchange? Definitely!
It’s a simple, straightforward platform with unique features, including its debit card program and “Anything-to-Anything” system.
If you’re looking for an easy-to-use platform that allows you to convert between fiat currencies, stocks, precious metals, and cryptocurrencies all in one place, then this may be the platform for you.
Whether your biggest concern is security or fees, Profitrade247 is the winner above most others as it does not have any hidden costs whatsoever. Plus, if your current bank doesn’t offer services in the crypto sphere but still insists on charging you hefty fees on international transactions, then this could be the perfect solution.