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TryTrade Review: The New Way of Trading

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TryTrade Review: The New Way of Trading - Gadgets Africa

TryTrade is a cryptocurrency exchange that allows traders to purchase and sell assets like Ethereum and Bitcoin. The platform is among the earliest Bitcoin exchanges, offering over 120 coins for buying, selling, and trading at affordable exchange rates. 

It stands out for supporting both cryptocurrency futures and spot trading at the current rate of the market. Additionally, TryTrade is an excellent choice for novice and experienced crypto investors and traders seeking minimal trading costs and access to a diverse range of coins.

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Pros and Cons

TryTrade is a well-known cryptocurrency exchange that has been in business for about a decade. It’s a strong choice with several advantages for traders. Here are its pros and cons:

Pros

  • Over 120 coins are supported;
  • High liquidity exchange;
  • Simple user interface;

Cons

  • The mobile version might be buggy;
  • It might not be accessible from some states.

Company Overview

TryTrade is an excellent cryptocurrency exchange that allows users to trade dozens of cryptocurrencies. Regarding buying and selling cryptocurrency at market rates, the platform provides users with futures trading and margin accounts, riskier products that can be advantageous for specific trading techniques.

It serves consumers in the majority of countries, along with the United States. Moreover, TryTrade provides competitively priced crypto trading to individual and institutional investors. 

Beginners should use the standard TryTrade platform, while experienced and expert crypto lovers should use TryTrade Pro and the sophisticated margin and futures capabilities. Novice and experienced users alike can earn interest benefits by staking coins. Because of the mixture of tools and services, TryTrade is likely to be able to meet users’ cryptocurrency needs.

Cryptocurrencies Available on TryTrade

TryTrade supports around 110 cryptocurrencies, including well-known ones such as: 

  • Ethereum (ETH)
  • Bitcoin (BTC)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Polkadot (DOT)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Polygon (MATIC)
  • Solana (SOL)
  • Stellar Lumens (XLM)
  • Uniswap (UNI)
  • Sushi (SUSHI)

USD Coin, Tether, and Dai are among the stablecoins supported by TryTrade. Traders can exchange US dollars for Japanese yen, Canadian dollars, or Swiss francs. Furthermore, users should note that not every currency is available in all countries.

Fees

Other platforms have different pricing and fees depending on the platform that traders use and their trade. Spread fees apply to pricing in both scenarios.

The cost for most cryptocurrencies is 1.5% for instant purchases and 0.9% for stablecoins purchased with US dollars or some other stablecoin.

Additional fees may apply depending on how members pay for the purchase. The price varies from 0.5% for bank funding to over 3.75% and 25 cents for digital wallet, credit card, or debit card funding.

Security

Traders can generate two-factor codes for account withdrawals, sign-in, and trading. Moreover, if users are worried about account hacking, they can also lock it from any changes.

Crypto has proven especially vulnerable to hackers over the years, responsible for millions of dollars in missing coins. While most compromised exchanges have repaid their customers for any lost money, users don’t want to finish at a cryptocurrency exchange platform with poor cybersecurity, which could leave their coins vulnerable to theft.

Notably, TryTrade has not experienced any major hacking incidents. Despite this, there are customer complaints about TryTrade on web forums for compromised personal accounts.

In addition to physical protection, TryTrade encrypts all of the traders’ important contact details at the data and system levels and periodically checks the vulnerability of its system.

Customer Service

TryTrade customer service is open 24 hours a day, seven days a week, via live chat, email, and phone. We discovered a minor problem updating an account setting (due primarily to human error) and submitted a service ticket. In around 20 minutes, TryTrade employees replied and resolved the problem.

Final Thoughts

TryTrade offers an extensive range of options for trading, from standard limit and stop-loss trades to margin trading and dark pool. It supports trading between crypto pairs and traditional(fiat) currencies (such as euros and pounds), making it a fantastic fiat-to-crypto doorway.

Furthermore, TryTrade is an established and trustworthy trading platform for traders seeking cash on and off-ramps. The platform provides various features, including complicated trading options for seasoned traders and basic trading alternatives for new crypto fans.

If users want to learn more about the platform, they should visit the TryTrade official website.

Cover photo by Wance Paleri on Unsplash

DISCLAIMER: This article is sponsored and does not substitute for professional advice or help. Any action you take upon the information presented in this article is strictly at your own risk and responsibility.

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