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Introducing Kyrrex, the New Coinbase Alternative
If you're looking to join the cryptocurrency craze, an exchange will likely be your primary gateway. Decentralized exchanges let you buy and sell crypto anonymously, but most of them have a steep learning curve. Centralized exchanges, on the other hand, require some form of verification but are more user-friendly.
By several metrics, Coinbase is regarded as the best cryptocurrency exchange in the world. Over the years, the platform has certainly done its bit to make digital currencies more accessible. A few platforms have sprung up to give Coinbase a good challenge. As the industry matures and the space becomes more competitive, the drawbacks of Coinbase become more apparent.
This article focuses on one of the newer alternatives to Coinbase—the Kyrrex exchange. We look at why some users might want to switch from Coinbase/Coinbase Pro. We will also explain about the advantages of the Kyrrex crypto exchange over Coinbase and extra features that users can enjoy on the platform.
The Centralized Exchange
A cryptocurrency exchange works similarly to your local brokerage. These platforms provide easy access to the tools of cryptocurrency trading. You can buy and sell a wide selection of digital currencies like Bitcoin, Ether, Cardano and Dogecoin. You can make purchases with your credit card and select from a range of trading pairs.
There are dozens of cryptocurrency exchanges but not all of them will suit your needs. The best ones combine ease of use and strong user protection with low fees and a sizable number of supported currencies.
A centralized exchange is a middleman that matches verified buyers with verified sellers and allows cryptocurrency trades to take place. It is a trusted third party and somewhat similar to how a bank operates as a repository and broker of fiat transactions.
These exchanges are important to the cryptocurrency industry because they bring a pool of willing traders together. They also hold digital tokens on behalf of the customer, who no longer needs to worry about forgetting their private keys. They are also the primary access points to the cryptosphere.
Aside from these primary functions, centralized exchanges have other features that vary by platform. Thus, the exchange you settle for should ideally offer the kind of products you want.
How to Choose the Right Exchange
If you want to move on from Coinbase, your next steps are very important. New exchanges spring up all the time. However, there's zero guarantee of prolonged success. In fact, a few celebrated exchanges ended up folding up after some years.
With this in mind, you should look out for certain features when you check out an exchange. These features will help you decide whether the platform is right for you.
1. Security
How secure is the platform? How does it react to hacks and other attacks? Checking the history of an exchange's response to security breaches will tell you a lot.
No matter how big an exchange is, it is not totally immune to hack attempts. Some exchanges are more successful than others in managing the aftermath. A few have insured customer funds against successful breaches. Some refunded users, others weren't able to; and others went out of business altogether.
2. Trading Volume
Trading volume provides a measure of an exchange's popularity in the crypto world. A high trading volume means more active users on the platform and signifies a strong exchange. You should also check the volume of transactions in the currencies you're most invested in. If the volume is low compared to other platforms, it might be evidence of community distrust in the exchange.
3. User Experience
There's no point in using an exchange if its features are too complicated for you to use. Before taking the leap, read reviews and watch videos to get a general idea of how the exchange works. Then decide if it's too complicated or just perfect for you.
4. Supported Currencies
If you just want to invest in Bitcoin and Ethereum, you may as well choose your exchange at random. Most platforms have those two as the major tradable currencies.
However, if you're looking to buy and sell low-cap altcoins, your choice of exchange will impact the coins you can trade for. You should find major alts like Cardano, Litecoin, XRP, Solana and Dogecoin on most platforms. Beyond those, check that the platform has what you want before you sign up.
Exchanges are always adding new and old tokens all the time. Even so, not every exchange will support every asset. Peruse the list of coin offerings first. Naturally, you can broaden the range of coins you can buy by signing up to multiple exchanges.
5. Legal Status in Your Region
Sadly, Coinbase isn't available in my country. This can happen with the exchange you like so be sure of its status in your legal jurisdiction before you sign up. Sometimes, this happens because of regulatory requirements. Sometimes, the exchange simply hasn't expanded to the area (yet).
Different governments have different rules regarding cryptocurrency exchanges. Not every exchange will meet these rules in every country. Some create country-specific versions of the platform that comply with government regulation in that country.
Rules can even differ within a country so be sure of the facts before you start using a platform. Nothing hurts more than signing up and then discovering that you can't buy and sell within the jurisdiction.
In rare instances, a certain digital currency has a disputed legal status and so isn't available. For example, XRP, the token from Ripple labs, is currently banned on US-based exchanges because of an ongoing legal case.
Why Switch From Coinbase?
Coinbase always features among the top cryptocurrency trading platforms. If you're in it for the experience, Coinbase is a good place to begin and slowly learn about digital token trading. Its simple interface and robust security mechanisms make it attractive for beginners. Moreover, you can directly link your bank account to the platform and transfer money directly from fiat to crypto. If that isn't your cup of tea, you can use any of credit card, PayPal, and wire transfer.
Despite these stellar features, Coinbase can be a frustrating experience in other aspects. Here's a rundown of some issues that have caused some users to stay away from the platform.
1. Service Disruptions
Coinbase has had its fair share of service disruptions in times of extreme price movements. This makes it less than ideal for those who wish to quickly exit the market or convert their holdings to less volatile assets.
During the 2017 bitcoin boom, and again when the coin reached ATH in April 2020, Coinbase hit some unexpected downtime. The difference between boom and bust in the crypto space is often measured in seconds. No wonder many investors have gone to other platforms for more reliable services.
2. High Fees
The transaction fees on Coinbase are less than encouraging for many users, especially beginners and big investors. According to the fee schedule, trades less than $10 in value attract a flat fee of $0.99. Trades between $10-25 net the exchange $1.49 in fees per transaction. Trades of $50-200 attract a $3 charge and higher trades will cost the trader 1.5% of the total transaction value. Many people regard the fees as on the high side and hunt for cheaper alternatives.
3. Stringent Verification
Many crypto investors who prefer anonymity are put off by the platform's strict verification and security protocols. Coinbase's KYC is perhaps the strictest among popular exchanges and not everyone is happy about the increased surveillance.
There is a multi-day delay when moving funds from Coinbase to an external wallet. There's also a waiting time when moving sold funds to a bank account. This goes against the crypto ideal of fast transactions and has rubbed many day traders the wrong way.
4. Limited Number of Tokens
For those who just want to buy some popular coins, Coinbase is fine. Otherwise, you might be disappointed. Despite its prominence as a leading exchange, the platform has a limited range of tradable assets.
If you love to hunt for lower-cap coins, Coinbase is probably not your cup of tea. There are less than 150 cryptocurrencies you can buy on Coinbase right now. That's a disappointing number, given that there are at least half a thousand good crypto tokenized crypto projects in existence.
Kyrrex, the Coinbase Alternative
Any new exchange inevitably claims to be the next best thing since sliced bread. But Kyrrex exchange has a genuine chance to reinvent cryptocurrency buying and selling. Imagine a digital token platform that serves as a one-stop shop for cryptocurrency trading, fiat-to-crypto exchanges, crypto-based shopping, and online banking.
These are lofty goals. Ultimately, the platform will be judged by its main product—offering centralized exchange services.
Kyrrex inserts itself in the gap between the world of traditional finance and crypto-based products. It offers a comprehensive set of attractive features that crypto beginners and veterans alike will love. On the Kyrrex platform, there's something for everyone.
Top Perks of Kyrrex
Positioning a platform as a competitor to Coinbase and other established cryptocurrency platforms is a pretty big deal. Kyrrex exchange wants to simplify cryptocurrency trading for everyone, everywhere.
It aims to do this by providing a platform where fiat transfer, crypto buying and selling, crypto storage, and converting crypto back to fiat money takes place. This cuts out some annoying steps from the cryptocurrency process and saves the user time, money and convenience.
At the core of the Kyrrex ecosystem is the Kyrrex Exchange, its flagship product. It is a relatively new crypto exchange with diverse trading features and positions itself as a flexibility-focused crypto platform with great UI/UX. Users can trade popular coins like Bitcoin, Ethereum and Dogecoin easily. Kyrrex offers improved services for private and institutional clients to get the best crypto experience.
Tokenized Exchange
As a top Coinbase Alternative, Kyrrex has something that the former doesn't have—a native token. As seen with the example of Binance and Binance Coin, a native coin with strong fundamentals can help to drive growth for the platform.
Having its own token automatically unlocks some advantages for Kyrrex. Users can pay transaction fees in the platform's KRRX tokens and enjoy reduced rates while doing so. Token holders are also eligible for a wide range of extra benefits.
Low Fees
Transaction fees on Kyrrex compare favorably among the top trading platforms. Compared to Coinbase, trading fees on Kyrrex are significantly cheap. Trading fees start at 0.15% for general trading and go as low as 0.08% for institutional trading. Furthermore, users who stake the native KRRX token get additional discounts of up to 60% depending on the staked quantity.
Robust Security
Kyrrex understands the importance of security to investors and has taken necessary steps to secure user funds. The platform features advanced anti-hacking mechanisms. The cutting-edge hybrid cryptographic encryption provides robust safeguards against malicious activity.
Holders Earn More Crypto
Investors can earn more bang for their crypto bucks in several ways on the Kyrrex platform. Holders of BTC, ETH, USDT or the native token KRRX can earn up to 14.5% APY through a fixed Exchange Deposit Program. The service holds crypto for private and institutional users for a fixed period and pays interest on the deposit.
Staking the native tokens is another way to earn more crypto on the Kyrrex exchange. Users who stake up to 500 KRRX tokens and refer at least 3 people to the platform are rewarded with a secret bonus.
Growing Portfolio of Tokens
Kyrrex figures to support a wide range of popular cryptocurrencies. You will be able to buy, sell and store all the well-known coins on this platform.
And if you want to explore fresh and underappreciated cryptocurrencies, the Kyrrex listing platform will promote additional tokens at regular intervals. This will be subject to rigorous analysis of each asset's underlying technology, adoption rate, market performance, and growth potential. Only the best and most promising coins will be added to the growing basket of supported assets.
Conclusion
As you can see, Kyrrex is one of the top Coinbase alternatives in 2021 and beyond. You can buy your favorite coins, store your tokens, enjoy significant trading discounts, and access lots of other features not mentioned here. So, should you decide to move on from Coinbase or find a supplementary exchange, the Kyrrex exchange is worth a look.
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Big Trading Opportunities with Kyrrex: How to Maximize Your Profits in Cryptocurrency Trading
The cryptocurrency market is a rapidly evolving landscape that offers big opportunities for profit. However, navigating this market can be challenging, particularly for those who are new to the space. In this article, we will explore how you can maximize your profitability in cryptocurrency trading by taking advantage of Kyrrex's wide range of trading opportunities.
The Relationship Between Open Crypto Trades and Profitability
Open trades are trades that have not yet been closed. These trades can have a significant impact on profitability, as they represent potential gains or losses. In general, having more open trades can increase profitability, as long as they are managed effectively.
One way to manage open trades is to use stop-loss orders. A stop-loss order is an order that automatically closes a trade when a certain price is reached. By using stop-loss orders, traders can limit their losses and protect their profits.
For example, if a trader buys a coin at $10,000 and sets a stop-loss order at $9,500, the trade will automatically close if the price falls to $9,500. This can help the trader get out of a bad trade before their loss becomes bigger.
Another way to manage open trades is to stay up-to-date with market trends. By staying informed on market trends and using technical analysis, traders can identify potential trading opportunities early and make informed trading decisions.
For example, if a trader notices that the price of a particular cryptocurrency is trending upwards, they may decide to open a long position (i.e. buy the cryptocurrency) with the expectation that the price will continue to rise.
However, it is important to remember that open trades are never risk-free. If the market moves against the trader, they may end up losing money on the trade. To minimize this risk, it is important to use appropriate risk management strategies, such as setting stop-loss orders and diversifying your portfolio. Stop-loss on a winning trade locks in your profits while a diversified portfolio helps to spread risk around.
The Importance of Trading a Wide Range of Cryptocurrencies
Trading several cryptocurrencies, instead of just one or a few, is essential for maximizing profitability. By limiting yourself to a small number of cryptocurrencies, you are potentially missing out on gains that could be made by trading in other coins. Additionally, trading more cryptocurrencies can help to minimize risk, as losses in one coin can be offset by gains in another.
Here are some benefits of a diverse cryptocurrency portfolio:
- Increased exposure to potential gains: By trading in a diverse range of cryptocurrencies, traders can increase their exposure to potential gains in the market.
- Minimized risk: By trading in a diverse range of cryptocurrencies, traders can minimize their risk by offsetting losses in one coin with gains in another.
- More opportunities for profit: Traders can open more orders in more cryptocurrency pairs, which increases the potential for profits.
Wide Crypto Trading Opportunities with Kyrrex
Kyrrex is a leading crypto-fiat platform that offers comprehensive services for individuals and institutional clients alike. With its advanced trading, storage, and payment technologies, Kyrrex is designed to meet the needs of modern cryptocurrency enthusiasts.
One of the main advantages of Kyrrex is its wide range of trading opportunities. Users can access the built-in trading terminal, which allows for seamless transactions in cryptocurrency pairs. Currently, Kyrrex offers a total of 20 currency pairs, including popular options such as AVAX/USDT, ETH/USDT, and XRP/BTC. By offering a diverse range of currency pairs, Kyrrex enables users to trade in a way that best suits their needs and preferences.
The Kyrrex trading platform boasts flexible functionality. Users can easily analyze and track quotes around the clock, select limit and market orders, and enjoy reduced trading commissions. These features make it easy for users to make more trades and analyze market trends, thereby increasing the chances for gains.
In addition to its trading capabilities, Kyrrex offers a comprehensive set of features to help users manage their cryptocurrency assets. With its state-of-the-art storage technologies, Kyrrex ensures the safety and security of user funds. Users can also take advantage of the platform's advanced payment technologies, which enable them to make and receive payments in a variety of currencies.
Conclusion
Maximizing profitability in cryptocurrency trading requires a combination of trading in a wide range of cryptocurrencies and effectively managing open trades. Kyrrex's wide range of trading opportunities, advanced trading tools, low trading fees, and real-time market data make it an ideal platform for those looking to engage with the cryptocurrency market.
5min reads
BTCUSDT: Analyzing Bitcoin's Performance on TradingView
Bitcoin (BTC) has emerged as one of the most popular cryptocurrencies in the world, and its value has skyrocketed in recent years. As a result, traders and investors have become increasingly interested in BTCUSDT trading on platforms like TradingView.
TradingView is a popular charting platform that allows users to analyze and trade financial markets. With BTCUSDT trading, traders can track the performance of Bitcoin against Tether (USDT), a stablecoin that is pegged to the US dollar. This pairing is commonly used on crypto exchanges, and TradingView provides comprehensive BTCUSDT charts and indicators for traders to make informed decisions.
BTCUSDT Price Action
BTCUSDT's price action has been volatile, with sharp price swings and fluctuations. However, the overall trend for BTC has been bullish, with the cryptocurrency hitting all-time highs in recent years. TradingView's BTCUSDT charts provide traders with the ability to track BTC's price movements in real-time, as well as view historical price data.
Technical Analysis on BTCUSDT TradingView
Technical analysis is a popular method for traders to analyze financial markets, and BTCUSDT trading is no exception. TradingView provides a wide range of technical indicators and charting tools to help traders analyze BTC's performance.
One popular indicator used in BTCUSDT trading is the Moving Average Convergence Divergence (MACD) indicator. This indicator can help traders identify trend reversals, as well as potential entry and exit points. Additionally, traders can use other technical indicators like Relative Strength Index (RSI), Bollinger Bands, and Fibonacci retracement levels to gain further insight into BTC's price action.
Fundamental Analysis on BTCUSDT TradingView
In addition to technical analysis, fundamental analysis is also important in BTCUSDT trading. Fundamental analysis involves analyzing the underlying factors that affect BTC's price, such as adoption rates, regulatory changes, and economic events.
TradingView provides traders with access to news feeds and economic calendars, which can help traders stay up-to-date on the latest developments that may affect BTC's price. Additionally, traders can use TradingView's social networking features to discuss and share information with other traders and investors.
Final Thoughts
BTCUSDT trading on TradingView offers traders a comprehensive set of tools and indicators to analyze Bitcoin's performance. With both technical and fundamental analysis options available, traders can make informed decisions about when to enter and exit the market. However, as with any financial market, BTCUSDT trading carries risks and traders should exercise caution and conduct their own research before making any investment decisions.
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Top 5 Crypto Charities
There are two sides to everything, though humans tend to focus on one side of the coin. The latest weapons can help through deterrence, not just destruction. Artificial intelligence is an incredibly useful tool despite its dangers. And cryptocurrency, just like everything else, can be a force for good in the world.
Crypto is about PnLs, market and limit orders, DeFi and staking, coin offerings and L1s. It is also about borderless payments which can facilitate goodwill donations by anyone from anywhere to any organization that works towards a noble cause.
The philanthropic space, just like health, finance and sports, has realized the benefits of adopting crypto. Some of the best known global and regional charities have created channels for crypto donations.
Bitcoin, Ethereum and stables like USDT are the most popular coins supported by charities accepting crypto. Depending on the type of crypto charity, other popular digital coins like Dogecoin, Monero, Bitcoin Cash and Litecoin may also be accepted.
So if you're moved to reserve some of your cryptocurrency holdings or trading gains for a worthy cause, there are lots of charity crypto projects that would be happy to receive your donation
These crypto-affiliated charities vary by mission. Some are dedicated to helping oppressed peoples in war-torn areas like Ukraine to stand up to the aggressors. Others utilize blockchain technology to support next-gen ideas and technology like effective altruism and AI.
These organizations all have noble goals and have thrived through the benevolence of citizens who use some of their crypto for charity. This article presents 5 reliable and dependable crypto charity projects. So if you're looking for charities that accept crypto, you've come to the right place.
1. Electronic Freedom Foundation
The Electronic Freedom Foundation (EFF) is a U.S. 501(c)(3) nonprofit that has a mission to defend civil liberties and human rights both online and offline, but especially online. It supports outreach and legislation that protect digital rights and provides funding for projects that promote the rights of the individual to free expression in the digital space.
The EFF sees increased legislation and user restrictions in the digital age as a wall that stifles creativity and infringes on the rights to liberty. Thus, it campaigns hard against moves that seek to restrict people's rights and freedoms, especially online. The organization has a long and proud history of canvassing change and is one of the best charity crypto projects around. It accepts Bitcoin, Bitcoin Cash and Ethereum from individual donors and you can also elect to receive some cool swag if you donate at least $100.
2. Kyrrex Charity
The start of the war in Ukraine has led to a groundswell of governmental, institutional and individual support for the beleaguered country which continues to maintain its independence in the face of overwhelming odds. The Kyrrex Charity is the social arm of Kyrrex, a regulated crypto-fiat ecosystem. Its goal is to work towards the war's end and victory for Ukraine by supporting the country's civilians, volunteers and defenders through financial aid.
The foundation organizes charity events and fundraisers all over the western world to raise money which it then distributes to various agencies across Ukraine.
Because of the difficulties caused by the war, crypto donations to Ukraine is one of the best ways to get money across to those who need it on the ground. That is why the Kyrrex Charity's main vehicle is a crypto charity fund. Benevolent individuals and organizations can directly donate Bitcoin, Ether and USDT through the foundation's Ukraine crypto donations wallets and be rest assured the money will be used for a worthy cause.
So if you have excess coins gathering dust in your wallet or cold storage and wondering how to donate crypto to Ukraine, you can send your coins to a Kyrrex Charity wallet and sleep easy knowing you've just done a great deed for humankind.
3. UNICEF Cryptocurrency Fund
Unicef, or the United Nations Children Fund, works in 190 countries across six continents to help children overcome developmental and geographical challenges and achieve their full potential from early childhood to adolescence. It's long been one of the most visible agencies of the UN and its impact has been felt in every corner of the globe for decades.
In 2019, UNICEF launched a crypto fund to simplify fundraising and grants distribution and reach their networks of donors and beneficiaries faster than the complicated web of traditional finance would allow. Donors can send BTC and ETH directly to the UNICEF CryptoFund. To date, the fund has received 8 BTC and 2527 ETH which is distributed to open-source frontier tech solutions showing promising results.
All donations made by the funds are done in BTC and ETH only and capped to $100k. Through this scheme, UNICEF has invested 52 ETH in a digital cash and voucher transfer platform in Nigeria, 43.5 ETH in a platform for digital healthcare savings in DR Congo, and 21 ETH in a tool for visual eye tests to detect vision disorders among children in the UAE.
4. The Giving Block
Would you like more control and flexibility over your charity crypto donations? Then you can check out The Giving Block. This donations service is like a crypto charity marketplace that allows you to give crypto to a nonprofit, charity, university, faith organization, environmental NGO or any other mission-driven agency of your choice.
The Giving Block emphasizes choice and flexibility. Donors are free to choose any of the 100+ organizations that accept crypto donations through the service. You can use their search tool to filter available organizations. For example, a "crypto donations Ukraine" search brings up the Ukrainian American Coordinating Council, the US-Ukraine Foundation and similar organizations. You can also switch to "Impact index funds" and donate crypto to a particular cause, such as the war in Ukraine, women and girls empowerment, or arts and culture.
Another big draw of The Giving Block is the versatility provided for those who use the platform to donate crypto to charity. Most blockchain-positive philanthropic platforms support just a few cryptocurrencies. But on The Giving Block, you have your pick of more than 70 crypto options to donate with such BTC, ETH, USDC, USDT, DAI, MAKER, AVAX, SOL, and many more.
5. The Tor Project
Tor, or The Onion Router, is the free and open-source browser that enables anonymous communication through a network of volunteer nodes spread across the world. The Tor project and its browser allow users to bypass censorship and restrictions on internet usage. It generates a semblance of digital privacy and independence in an environment rife with governmental policy.
The Tor Project accepts donations in crypto and other avenues to keep the Tor network running and protected against intrusion by global institutions and governments. Tor accepts crypto donations in 9 currencies including Bitcoin, Ethereum, Dogecoin, Augur, Dash, Litecoin, Monero, Stellar Lumen, and ZCash.
Donating Crypto to Charity
If you'd love to donate crypto to charity, you can try one of the organizations on this list or another one that accepts digital currencies. You can donate your crypto directly—no need to convert into a stablecoin or fiat money first. Moreover, if you have a stablecoin in your portfolio, you can donate that. The price of a stable fluctuates less compared to traditional cryptocurrencies, which can benefit the charity of your choice more than a volatile coin would.
Making donations to a charity actually helps fulfill one of the founding principles of cryptocurrencies—anonymity. By donating through crypto, you show that you truly care about a cause and aren't donating just to look good in the news or on social media.
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