Place/Date: Romania, Bucharest - September 15th, 2016 at 7:42 pm UTC · 4 min read
Contact: David Jr, Source: Unichange.me
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:
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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Disclaimer: Unichange.me is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.