It is no secret that the currency exchange and trading industry is now heavily dependent on the internet, thanks to electronic payment systems and the emergence of cryptocurrencies. The evolution of the financial system from regular fiat currency to a combination of fiat and cryptocurrencies has also influenced traders around the world to revise their trading practices. This paradigm shift on the exchange market has shifted trader’s focus from relatively stable, familiar currency pairs to volatile ones such as Bitcoin and other cryptocurrencies.
The digital currency’s price is dependent on demand and supply. Each Bitcoin exchange or trading platform has its own exchange rate which is different from that of others and keeps fluctuating. This increases price fluctuation and volatility which makes Bitcoin an ideal trading asset. It is easier to make a fortune by buying Bitcoin from one exchange where the price is low and sell it on the other with a higher price.
There are currently a large number of Bitcoin exchanges on the internet, but traders usually prefer to go for the popular ones. Big exchanges are considered to be more reliable than their smaller counterparts and rightly so. These bigger exchanges, owing to their popularity are well regulated and are less likely to experience difficulties while processing orders. The sheer volume of trade handled by these exchanges also makes it possible for them to offer better rates.
Powerful international cryptocurrency exchanges like Bitfinex, Kraken, Bitstamp etc. allow their customers to top up their accounts and withdraw funds via bank transfer. Even though this is the most secure method, it has its own drawbacks. It requires personal verification which may take a week, not to mention the additional banking and transaction fees. These obstacles might deter some customers who are willing to trade but prefer not to go through the challenges associated with wire transfer.
Bitcoin exchanges can attract more customers by offering additional funding and withdrawal options. This will increase their turnover and strengthen their competitive position.
How Can Exchanges and Traders Benefit from Alternative Ways to Fund Their BTC Account?
Online exchanges can offer the user alternative ways to fund or withdraw BTC from their bitcoin accounts by cooperating with P2P exchange providers. It will not only enable additional alternative payment options, but will also make them more flexible, resulting in reduced costs and improved delivery speed of services.
Increasing flexibility is just one of the advantages of using online exchange services when trading digital currency. Few other advantages include:
- Security: All platforms care about their reputation and most of them follow stringent security policies applicable to both technical and financial aspects of the operation. Cooperating with such platforms will automatically ensure better security for the users.
- Reserves: By collaborating with multiple exchangers, the amount of transactions one can handle becomes practically limitless. A serious P2P exchange service provider holds a much larger reserve of digital currencies than any individual exchanger without a website can ever hold.
- Cost and Speed: The competitiveness of online exchange market constantly forces the players to make the best offers.
- Support: One of the advantages to cooperate with exchange services is the support team. People wish to receive high quality services, therefore qualified support of your partner’s service may even increase loyalty to yours.
The constant development of online financial markets instigates online exchangers to expand their reach as well as service offerings. For example, even a traditional bank can become more competitive if it allows its customers to withdraw e-currency and cryptocurrency funds directly to their card accounts using P2P exchange providers.
It is up to the individual and businesses to decide how they want to make a profitable business out of trading cryptocurrencies. Electronic money exchange services are the answer to the financial market’s demand and those who take advantage of these in time will strengthen their position in the industry.
Unichange.me is an innovative P2P exchange provider. The platform, dedicated to provide quality service is involved in developing a positive customer experience for the digital commerce ecosystem. The platform has a strong team with experienced players from the e-currency exchange market. Unichange.me supports multiple electronic currencies and offers a range of convenient withdrawal options to its customers.
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