Finding a cryptocurrency broker is the first step you need to take in order to buy and sell cryptocurrencies.
StoxDC is one of the brokers you will come across, but you have to assess their offerings before you opt to use their services. Are they any good? You can read the following StoxDC review to find out.
When the global coronavirus pandemic hit last year, no one could have imagined the havoc it would wreak on the economy. With lockdowns imposed all over the globe, many businesses were shut down, causing millions of people to lose their job and not have a source of income.
Others had to face reduction in their salaries, and even work without pay. Suffice it to say, there were a lot of financial problems and countless people were searching for a way to earn money.
This is when the financial markets saw an influx of traders and investors because they were providing the perfect opportunity of making money from home.
Online trading of different financial assets is nothing new and many people have been doing it for years. There have been many fortunes made and lost in these markets and the best part is that trading online doesn’t come with the same barriers to entry as you would see in the traditional form of trading.
You don’t have to have years of experience, a massive amount of capital or even a financial background to get started. This was also a factor in the increase in traffic in these markets, but the most activity was seen in the cryptocurrency market.
While the other financial markets were doing quite reasonably, considering the condition of the economy, but none of them came close to how the cryptocurrency market flourished. After stumbling initially when the pandemic hit, the cryptocurrency market gained back its footing and began climbing it.
As a matter of fact, it saw a surge of gigantic proportions, particularly where the first cryptocurrency, Bitcoin is concerned. After its introduction in 2009 by Satoshi Nakamoto, Bitcoin had become rather controversial because of its anonymous nature that appealed to some and attracted criticism from others.
Other cryptocurrencies were also introduced during this time, but Bitcoin remained the leader of the pack. It first became the talk of town in 2017 when its price tag reached $20,000, an all-time high it wouldn’t break for the next three years.
The end of 2020 saw Bitcoin move past this previous high and in 2021, it reached a new one that took it beyond the $60,000 mark. Considering this meteoric rise, it is no wonder that people began diving into the cryptocurrency market in droves. Who wouldn’t want a share of the profits?
The interest and demand of cryptocurrencies resulted in the need for additional cryptocurrency brokers. These are the platforms that are established for the purpose of buying and selling cryptocurrencies.
Sure, there were some that already existed, but the demand had gone up after 2017 and so, there was an introduction of a number of other cryptocurrency brokers as well.
Thus, when you start looking for one, you will find the market overflowing with options. Yes, this is beneficial because it means that these brokers are competing against each other to offer their clients the best.
This ensures that you will be able to find some really good options and begin your crypto investment journey. But, this will require a great deal of time and effort.
You cannot just pick an broker randomly because, if you haven’t kept up the market, you will soon find out that there have been some frauds and scams as well.
Also, some cryptocurrency brokers are shady or offer low quality services that you don’t want. You should do your research and assess the offerings of an broker before you decide to use their services.
The Cryptocurrencies Available for Investment
You are obviously searching for a cryptocurrency broker to invest in cryptocurrencies, but in your hurry to sign up and get started, you shouldn’t forget to take a look at which ones are being offered. As stated above, the pioneer cryptocurrency is none other than Bitcoin and it flew solo for some time.
However, it was launched more than a decade ago and since then, a horde of others have joined the mix. Today, there are more than five thousand different cryptocurrencies that you can find in the market and new ones are being introduced on a regular basis.
Even though not all of these cryptocurrencies are may survive in the long run, but there are many others that have shown true potential. Investors in the crypto market haven’t just made fortunes through Bitcoin, but a number of other cryptocurrencies as well.
In fact, some of them have managed to generate a much better rate of return because they are not as expensive as Bitcoin. Thus, when you are jumping in the cryptocurrency market, you can take advantage of a lot more than just the leading cryptocurrency.
In addition, financial markets are quite risky and the crypto market is no exception. In fact, it is riskier than most because of its high volatility. You would certainly want to mitigate this risk as much as possible, while also boosting your returns.
But, how can you accomplish that? This can be done when you have access to a variety of cryptocurrencies and invest in them to spread out your capital. To be able to do so, you need a crypto broker that can provide you access to the variety you are after.
Not all brokers are going to be able to offer you that, so you have to dig in and find one that does. Assessing the offerings of StoxDC means looking at the cryptocurrencies they are offering on their platform.
Even though there are a lot of brokers out there that may promise to offer you a wide array of digital currencies, you will find out soon enough that most don’t really fulfill these. It can be very frustrating to discover this after you have signed up, so it is best to check beforehand.
You will not have to face this with StoxDC because they offer you more than 15 of the top and most profitable cryptocurrencies in the market and deliver exactly that.
You can choose from Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Monero and Ripple, amongst others and diversify your crypto investment portfolio as per your preference. This will ensure that you are able to keep your risks under control and increase your profits as much as possible.
The cryptocurrency broker needs to make sure the platform is able to keep up with the crypto market because this tends to move quickly.
Hence, if the platform is slow or breaks down, it can cause you to miss opportunities or make bad decisions. Due to its vital role, it would be smart for you to assess the platform offered by an broker before you move ahead with them.
This means you also need to take a look at what kind of platform StoxDC is offering because your experience with them will depend a great deal on it. They are fully aware of the essential role it plays in their clients’ experience, so they have not made any compromises in this regard.
To keep up with the crypto markets, the trading platform developed by StoxDC uses sophisticated and cutting-edge technology that shows all open positions and the market movements in real-time.
Despite its advanced technology, you will come to see that they have used a highly intuitive user-interface because their goal is to ensure that anyone, whether they are entering the cryptocurrency market for the first time, or have done this before, will be able to use it without any problem.
You don’t have to worry about any challenges in figuring things out, as everything is straightforward and navigation is easy.
Most importantly, some of the best tools have also been added by StoxDC for allowing their clients to make the most of their investment.
One of the most unique and popular tool amongst their traders is the cryptocurrency converter, which can come in handy for calculating the buying and selling price of a digital currency in your chosen fiat currency.
Of course, when you are catering to customers in different parts of the world, you can expect them to use their local fiat currency for making their purchases. Keeping that in mind, this tool has been developed and added to the broker’s offerings.
The good thing is that it is not the only tool you will find here, as there are plenty of others that StoxDC has integrated for the ease and convenience of its clients. You will be able to access a range of charts and graphs, indicators, alerts and the latest news and prices that can all have an impact on your decision and strategies.
The platform itself doesn’t require you to do any downloading or installation because it is to be accessed through the StoxDC website. But, the broker does offer its clients flexibility by keeping up with modern trends.
They have developed mobile apps for iOS and Android ecosystems that can be downloaded on the respective mobile phones, or tablets, and can be used from anywhere.
The apps are easy to download and use and StoxDC has equipped them with helpful and interactive features. With these apps, you will be able to access your account on the broker from anywhere and at any time, thereby making favorable decisions.
The Process of Registering with the Broker
What do you do when you are signing up for any online service nowadays? It is the norm for people to register themselves on a platform when they want to use it and this is no different for a cryptocurrency broker either.
You will be asked to complete the process of registering themselves as a customer and this can often make people a bit apprehensive. It is natural to wonder what you will be asked to do, as there have been stories of crypto brokers and other online platforms having long and complicated registration procedures.
Having to fill out multiple forms, signing a contract, or waiting for your registration request to be approved can be taxing and annoying. You may be eager to jump into the crypto market and all of these will only result in additional delays.
Plus, if the broker asks for a lot of personal and detailed information from the get go, it can be concerning because you don’t want to trust just anyone with your sensitive data.
It takes time to build trust, so a legitimate broker would usually ask for the details later. Thus, the point of assessing the offerings of StoxDC is to ensure that their registration requirements are reasonable and that you are prepared to meet them.
You want to know whether there is an eligibility criteria and how you can complete the registration process. If you are nervous, then you will be pleased to know that StoxDC has chosen to keep everything simple, quick and straightforward.
You just need to be 18 to sign up on their platform and start buying and selling cryptocurrencies. As far as the procedure is concerned, there is no contract or approval involved and there is just a single form for you to complete. Even that will surprise you because the form doesn’t really ask for much.
To access it, you will have to visit the StoxDC website first and find the ‘Join Now’ button. Upon doing so, you will find a form that asks for an email address and a password. These are to be used for logging into your account later.
You also need to provide a real phone number, as it will be used for authenticating your account. The next step is to agree to the Terms & Conditions that you can easily find on the broker’s website. As long as you are in agreement with them, you can click on ‘Accept’ and the process will be complete.
There is nothing else you need to do at this point and can begin the trading process at StoxDC without any hassle.
The Banking Methods that are Supported
You are assessing the offerings of a crypto broker for the purpose of investing in the cryptocurrency market. Obviously, money will be involved here, but the key is to figure out how you will deposit this money.
After you have completed the registration process on any broker and opened an account, you will be required to make a deposit, or else you will not be able to buy any cryptocurrency. Likewise, you will also sell cryptocurrencies in the future and receive money in return, which means you will also be making a withdrawal.
In order to do both, you need to know what banking methods are supported and can be used for making deposits as well as withdrawals. It should be noted that no two crypto brokers are going to provide you with the same choice of methods, so it is best to know what will be offered.
Not everyone wants to use the same method and some options are just more convenient than others. You should look into the choices available because you want to be able to make deposits and withdrawals quickly and smoothly.
A look at the banking methods that are supported by StoxDC will tell you that they are truly customer-oriented. As their crypto broker is designed to cater to investors of all skill levels and backgrounds, they have added an array of methods.
This ensures that everyone can find a method that’s easy for them to use and can buy and sell cryptocurrencies seamlessly. A combination of traditional and modern methods have been made available and they start with a bank account, bank wire transfers or a debit and credit card like VISA or MasterCard.
If not, you can also choose to use Bitcoin, or take advantage of a crypto mobile app. What else could anyone want? The processing time taken by the transaction will vary, depending on the method you choose.
For instance, bank wire transfers usually take a couple of days and may also incur some charges. These methods are provided by StoxDC for both deposits and withdrawals.
As a matter of fact, businesses can also receive crypto payments from their clients and use the broker’s services to convert them into fiat currency for easy withdrawal.
Nevertheless, you should note that the KYC (Know-Your-Customer) and AML (Anti-Money Laundering) policies are followed on the StoxDC platform, which means that there are certain requirements to be fulfilled before you can conduct transactions.
These include verifying your account by submitting documents for proof of identity and proof of address. You can confirm your identity by providing any form of government-issued ID, such as your driver’s license, an international passport, or a national ID card. Just make sure they are not expired or near expiry.
As for confirming your residence, you can submit any utility bill at StoxDC, such as water, gas or electricity, or provide a bank statement. You should ensure they are recent and not more than three months old.
This can help in keeping away cybercriminals, who may try to make fake accounts in order to access the broker. Furthermore, it is a way to ensure that the broker cannot be used for any illegal activities like money laundering, financial fraud, terrorist financing or identity theft.
These are definitely some of the offerings of StoxDC that need to be assessed, but they are not all. You can also look at the customer support offered by the crypto broker and will be surprised to see how responsive and prompt they are in assisting their customers.
You can also find the best buying and selling rates on this broker, which makes it a great option for maximizing your profits.
There is no need to worry about liquidity either because they have also added an OTC (Over-the-counter) desk for closing a rate within a short time period and providing you access to the assets you want.
The package is rounded with top-notch security of your funds and information, making it a great solution for crypto investment.