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The ultimate guide: How to buy and sell cryptocurrency the same day?
Bitcoin's exponential growth exposed the world to a new form of trading and exchange system. Different cryptocurrencies have since sprung up, offering other use cases.
We've seen the explosion of smart contracts, decentralized finance, and governance platforms.
However, one of the main reasons for cryptocurrency's mass adoption is the market's profitability.
Buying and selling cryptocurrencies is a new way to make money. And with the market's high volatility, it's easy to maximize profit.
That said, it's also easy to lose all your money if you don't know when to sell a cryptocurrency.
With so many options out there and new crypto platforms springing up every day, things can quickly become overwhelming for casual enthusiasts who want to buy and sell bitcoin and other crypto tokens safely.
With the proper knowledge and a good understanding of buying-and-selling mechanisms, holders and traders can navigate the system more efficiently. Knowing what coins to buy and when and where to sell them will enable you to react to the market accordingly.
In this article, you'll learn how to buy and sell cryptocurrency easily.
Understanding cryptocurrencies and how they work
You need to have a fundamental knowledge of cryptocurrencies before diving into trading them.
A cryptocurrency is cash that lives on digital devices. Just like physical cash, cryptocurrencies are designed to settle bills and make payments. Also, you can send them to friends and family anywhere in the world.
In reality, crypto payments work the same way bank transfers do. But cryptos offer more privacy, security, and ease.
Bitcoin was created in 2009 by Satoshi Nakamoto. The project's whitepaper promised a digital currency that allows secure, anonymous peer-to-peer transactions.
Bitcoin is based on blockchain technology, a publicly available database that functions as a distributed ledger. It uses cryptography to record transactions and protect user data. Thousands of cryptocurrencies are based on this technology.
You can add new transactions to the blockchain (blocks) but can't delete anything, and it's easy to see every transaction that has occurred on the chain.
Blockchain technology has been used in different ground-breaking applications, not just crypto transactions. For example, the introduction of smart contracts made it possible to leverage blockchain technology in gaming, decentralized finance, and governance, among many other real-world use cases.
Why cryptocurrencies are popular
While you need to go through a financial organization such as a bank to send money to anyone or make payments, cryptocurrency transactions are done peer to peer. That means there's no middle man: just you and the recipient.
What's more, you don't have to hand over any personal information or sign up to any service to send and receive cryptocurrencies. All you need is a wallet. Cryptocurrencies are also not limited by international borders. You pay the same transaction fees (which are very low) to send tokens anywhere.
However, buying and selling cryptocurrencies is another kettle of fish. While the goal is to, one day, use cryptocurrencies to settle and finalize payments, we're still at a time where the easiest way to own cryptos is using fiat currencies to purchase them.
That's where trading comes in.
Cryptocurrency trading
Just like fiat currencies and stocks, you can buy and sell cryptocurrencies and make profits and losses. They both involve price movement speculation.
However, unlike fiat currencies and stocks, cryptocurrency prices are highly volatile. For example, daily percentage changes can spike or plunge in double digits.
So, you have to take your time to understand the market before trying your hand.
You can buy actual cryptocurrency assets via exchanges or use a CFD trading account to speculate price movements.
CFD trading
With CFDs (Contract for Difference), you're betting your money on a cryptocurrency's future price without buying the actual token. This type of trading is purely aimed at making a profit.
You can open a short position ("sell" or "go short") if you think a token's price will fall in the future or open a long position ("buy" or "go long") if you think it will rise.
You'll be leveraging a small deposit, known as a margin, to expose yourself to the real cryptocurrency market. Whatever amount of deposit you make, the total size of your position will determine your profits and losses, which amplifies how much you stand to gain or lose.
For example, if you open a $50,000 long position and use a 10:1 (10x) leverage, you'll have to commit a $5,000 deposit, which is your margin.
Exchange trading
Going through a cryptocurrency exchange means you're purchasing the real crypto asset, which you can then transfer to a private wallet or sell at a later time. This is the best way to go about things if you're looking at keeping crypto assets long-term.
This form of trading is called Spot Trading. Each trade is settled when there's a price match between a buyer and a seller.
People regularly place buy and sell orders (more on that later) on exchanges, which are filled when the conditions are met. So, for example, a buyer's order of price X will be matched with that of a seller who placed a sell order at the same price.
Can you buy and sell cryptocurrency on the same day?
You can trade cryptocurrency easily on the same day through exchanges.
Firstly, you have to sign up on the exchange and set up your wallet.
After signing up, you'll have to go through the exchange's process of depositing money. Some exchanges require some form of identity verification before you can deposit and start trading.
After depositing your fiat currency, such as Euro, Pounds, or Dollars, you can quickly go to the trading platform's spot market to buy a token.
However, some platforms allow you to buy crypto assets such as Bitcoin, Ethereum, and Ripple using your credit card.
Once bought, the token is transferred to your wallet. After that, you can withdraw the cryptocurrency to any other digital wallet or sell it whenever you choose to on the exchange.
How to exchange crypto
Exchanges work with trading pairs. Each cryptocurrency has its unique abbreviation, known as a ticker. For example, Bitcoin trades with the "BTC" ticker while Ripple trades with the "XRP" ticker.
Trading pairs
Trading pairs help you identify how you buy a token. They are assets that can be exchanged for each other.
When you open an exchange's spot market, you'll see many different trading pairs.
A typical example of a trading pair is BTC/USD. You buy the asset on the left with the asset on the right.
So, for example, to buy Bitcoin using the USD (US Dollar) you deposited, you'll have to select the BTC/USD trading pair, enter the amount of Bitcoin you want to purchase, and click on Buy.
To sell, select the trading pair, enter the amount of Bitcoin you want to sell, and click on Sell.
As we mentioned, there are many different trading pairs. You can exchange one cryptocurrency for another. For example, the ETH/BTC trading pair allows you to exchange ETH for BTC and vice versa.
Stablecoins
Stablecoins are crypto tokens that are pegged to the value of a fiat currency. A well-known example is Tether (USDT), which is pegged to the US dollar. Other examples include USDC and USDT. You'll find that trading with stablecoins helps simplify things as you're exposed to more USDT and USDC pairs.
So, after depositing your fiat to the exchange, you can convert your funds to a stablecoin without worrying about its value dropping.
Understanding limit, stop, and market orders
As we mentioned earlier, you have to go through spot trading to buy or sell a crypto asset in a centralized exchange, and spot trades involve setting buy and sell orders.
There are different types of orders that allow you to buy and sell cryptocurrencies at a specific price.
These orders serve as tools to help you manage risk, maximize profit, and minimize your loss.
What is a market order?
Placing a market order allows you to sell or purchase a token instantly. It tells the exchange to fill your order at the best available price.
When you check your order detail, you might notice that your coin was sold in batches at different prices.
This order type works for people who want to buy or sell as quickly as possible without waiting for a specific price.
While the market order is the fastest way to buy or sell crypto assets, it's not always the best option. Depending on the market's volatility, the trade could be filled at a much worse price than what you anticipated.
A limit order instructs the exchange to buy or sell a crypto asset at a specific price. The asset won't be bought or sold until its price falls or rises to the price you entered.
Suppose you want to buy a token at $9,000, but it's currently trading at $9,500. Then, you can set a limit order of $9,000. This way, your order will only be filled whenever the cryptocurrency's price falls to $9,000.
To set the order, you have to enter the amount of Bitcoin you want to buy. In most cases, the exchange will automatically fill in the price in USD (if you're buying with USD).
You can't set a limit order above a token's current market price since a better price is already available. However, in most exchanges, the cryptocurrency will be bought immediately after you set such an order.
The same goes for setting a sell limit order. Your asset won't be sold until its price reaches the specific price you set, and if you place a limit order at a lower price than the current market price, it will sell immediately.
You should note that there's no guarantee that the exchange will fill your limit order. For example, the limit order will not be executed if the token's price never falls or rises to your set price. Also, in some cases, the exchange might fill the order partially or not at all if the token's price grows too fast and there are no matching orders to execute your buy or sell order.
What is a stop order?
A stop order instructs the exchange to set a limit or market order when a specific price is met.
There are two types of stop orders: stop-loss order and stop-limit order.
Stop-loss order
When you set a stop-loss order, a market order is triggered. That means, when the token reaches a specific price, the exchange is allowed to sell or buy it at the best available price.
For example, if you set a sell stop-loss order for Bitcoin at $9,000, the exchange will fill the order at the current market price whenever Bitcoin reaches or crosses $9,000. Note that the order will be filled whether the price goes up or down.
The downside of using a stop-loss order is that the order could be filled at a worse price than you expected.
Stop-limit order
The exchange will set a limit price order once your stop-limit order is triggered. That means you have to put a stop price and a limit price separately. While you can use the same price for both orders, setting the limit price slightly above or below the stop price increases your chance of filling the order.
For example, if Bitcoin is currently trading at $9,500 and you want to buy it at $9,000, you can set a stop price of $9,100 and a limit price of $9,000. Then, when Bitcoin's price falls to $9,100, the exchange will automatically place the $9,000 limit order.
Can you buy and sell crypto all day?
Unlike the stock market, the crypto market trades 24 hours a day, seven days a week. As a result, you can buy and sell crypto at any time.
That said, your exchange might suspend spot or margin trading due to maintenance or upgrade. Server downtimes can also affect trading.
So, if you've been asking the question, "Does Bitcoin trade 24 hours a day?" you now have your answer.
Does day trading apply to cryptocurrency?
Day trading is a convenient way to buy and sell crypto for profit. As long as you know the best time of day to sell Bitcoin after buying, you can easily make a lucrative career out of trading cryptocurrencies on the same day.
Crypto prices are highly volatile. Price movements within one hour can make a huge difference in profits and losses. That is why the cryptocurrency market is a fertile ground for those who know what to do.
Day trading allows you to take advantage of the substantial price changes of any crypto asset. That said, you have to be careful as you could also incur huge losses if the market takes a different turn from what you anticipated.
How to know when to sell crypto
Since you want to profit from cryptocurrency price movements, the best time to sell is when the token rises above your entry price. You have to determine how much profit you want to make and stick with it.
Now that you know how to use the different order types, you can easily set your entry and exit prices.
If you're day trading, make sure you monitor price movements closely. You could also delve into learning Fundamental Analysis and Technical Analysis, tools that advanced traders use to understand and speculate the state of the crypto markets.
Another way to determine when to sell your cryptocurrency is by following the news. First, learn everything there is to know about a token and its project development. Then, follow updates about new changes coming to the project, especially collaborations, that could sway a token's price.
News about government regulations, crypto comments from influential individuals, and security breaches can significantly impact the cryptocurrency market.
So, take all these into account when trading cryptocurrencies.
Summing up
Cryptocurrency trading is risky. Trade carefully and make sure you're ready to bear the risk of losing your entire deposit.
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What are Crypto Gaming Coins?
Crypto in gaming remains one of the most innovative blockchain application use cases. Since its introduction, developers have come up with more creative ways to boost user appreciation of the crypto industry and improve the convenience of earning money. Game coins are among the most popular cryptos, going head-to-head with NFTs in terms of appeal.
To effectively utilize these gaming crypto coins, you should understand what they are, how they work, and the best ones available at the moment.
What is Crypto Gaming?
Crypto gaming is the fundamental application of cryptocurrencies in online gaming. It encompasses everything that connects gaming with cryptocurrencies, including the valuation of gaming assets and how these assets encourage a more profitable approach to gaming activities.
Crypto gaming involves the creation of digital assets that represent in-game items such as items, characters, and even user experiences. It allows users to exchange some of these assets for specific crypto coins created for each game.
Through crypto gaming, users can access a wider range of opportunities to utilize cryptocurrencies directly or indirectly. Direct crypto usage refers to immersive experiences for the user, such as engaging in virtual missions, competing with other users, and more. Indirect crypto usage involves purchasing in-game assets from active crypto gamers and selling these assets to other gamers.
Types of Crypto Gaming
Crypto gaming operates on game finance (GameFi), which is a subset of decentralized finance (DeFi) focused on virtual gaming. As the applications of crypto gaming continue to evolve with the introduction of various types of crypto gaming, understanding each type has become an asset in itself.
Among the most popular of the different types of crypto gaming are adventure gaming, social trading, and crypto gambling.
1. Adventure Crypto Gaming
Adventure gaming is the most common type of crypto gaming. As the name suggests, users create game avatars that become part of a virtual narrative and embark on missions, participate in tournaments, and engage in various activities found in traditional adventure games. The exciting aspect of this type of crypto gaming is the ability to compete with other users and even form teams with friends.
Adventure-type crypto gaming usually relies heavily on NFTs. By acquiring in-game items such as medals and role-playing game coins, users can accumulate enough game coins in the form of tokens. Each token can be sold on specified NFT marketplaces or exchanged via peer-to-peer (P2P) trading, depending on the sophistication of the gaming platform.
Examples of this type of crypto gaming include Fight Out, Axie Infinity, and Vireye. Users can earn cryptocurrencies through rewards.
2. Crypto Gambling
Crypto gambling operates similarly to traditional gambling, but the stakes are measured in cryptocurrencies. While the crypto projects in this market may not be as prominent as adventure gaming, they are equally appealing. The profits can be high and frequent, but so are the risks. However, crypto gambling is exciting and encompasses more than just the exchange of NFTs.
What sets crypto gambling apart is its low-entry barrier. Users can place bets on sports outcomes through P2P channels without having to go through centralized or decentralized platforms. Although platforms exist to ensure user convenience and the security of stakes, ethical considerations often limit their popularity.
Lucky Block, Wild.io, and Fairspin are some of the major players in the crypto gambling industry. They provide users with opportunities to ‘win’ cryptocurrencies by staking them instead of trading.
3. Social Trading
Social trading represents the inclusive aspect of crypto gaming. Instead of focusing on specific areas of gaming, such as virtual gambling or adventure-seeking, social trading brings everything together. Crypto gamers who are also social traders utilize innovative platforms to trade game tokens while benefiting from tournaments and platform liquidity.
Specialized gaming platforms serve as the core of social trading, acting as the main engines for integrating the user’s gaming interest with their interest in crypto trading.
LOTTRADE is an example of a social trading platform. It is designed as a universal NFT/DEX/CEX gaming tournament platform, providing users with access to a global community of enthusiastic gamers. Each user joins tournaments and receives prizes based on their ranking. Furthermore, the platform recognizes, rewards, and promotes trading skills.
Top Gaming Crypto Coins and Platforms
1# LOTTRADE
LOTTRADE is a top-ranking crypto gaming platform due to its extensive community, high-profit potential, and flexible architecture. The platform supports fair tournament smart contracts, attractive liquidity pools, and a transparent governance and staking protocol. Users appreciate the platform as it can be used for both crypto gaming and trading.
The LOTTRADE token, LOTT, serves multiple purposes. It can be used directly as tournament fees, as a commission for minting NFTs, for lending, or for governance and staking. Owning the token opens up a world of new crypto user communities, tournaments, and opportunities for lucrative gaming and trading.
2# Runiverse
Runiverse functions similarly to other crypto gaming platforms, but it challenges users to compete based on the performance of the crypto market. The platform’s selling point is its ability to enable cross-metaverse gaming, allowing users to compete with their rivals across virtual metaverses. Furthermore, users participate in an engaging racing narrative that is exciting, fun-filled, and immersive.
To participate in the platform, users need the Runiverse token (RUNY). With this token, they can take part in various racing tournaments and have a chance to win enticing prizes.
3# Vireye
Vireye is a well-designed crypto gaming platform focused on epic adventures and fantasy. It offers advanced and engaging world-building elements that allow users to fully immerse themselves in the narratives. With captivating adventures, character customization, and lifelike in-game dialogues, users have as much fun gaming as they do monetizing their experiences.
The Vireye Game Studio focuses on creating unforgettable experiences for the new generation. Once fully fledged, users will have their choice of blockchain games to play based on their unique predilections. Be it adventure, RPG, action, rogue or puzzle, everything can be found under the Vireye Games umbrella.
In time, the Vireye will implement a token which will serve as the entrance requirement for the platform and the primary exchange currency for in-game assets. With this token, users can enter the virtual magical world, featuring an engaging combat system and visually appealing graphics
Whether it is LOTT, RUNY, or the Vireye tokens, users can participate in captivating tournaments. These tournaments offer the best of crypto gaming, helping users maximize their gaming experience and profit-making potential.
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How to Identify Cryptocurrencies with High Growth Potential
Cryptocurrencies have taken the financial world by storm, with the market experiencing rapid growth and high volatility. With so many cryptocurrencies available, it can be challenging to identify those that have the best potential for high growth and profitability. However, with the right tools and knowledge, navigating the market and finding promising cryptocurrencies is possible.
This article will explore how to identify cryptocurrencies with high growth potential. We will discuss market trends, factors that affect cryptocurrency growth, how to analyze cryptocurrency performance, conducting due diligence, and identifying promising trading pairs.
Understanding Cryptocurrency Market Trends
To identify promising cryptocurrencies with high growth potential, it is crucial to understand market trends and cycles. Here are some key points to consider:
- The cryptocurrency market is a decentralized, global market for trading cryptocurrencies that is highly dynamic and volatile.
- Cryptocurrency market trends can be classified into four stages: accumulation, markup, distribution, and markdown. Market cycles can last from several months to several years and tend to follow similar patterns.
- Analyzing market trends involves examining historical data and identifying patterns and trends. It is important to consider both short-term and long-term trends when assessing the potential of a cryptocurrency.
- Factors influencing market trends include news and events, investor sentiment, regulation, and technological developments.
- Technical analysis tools, such as charts and indicators, can help identify market trends and potential entry and exit points for trades.
By understanding market trends and cycles, you can make more informed decisions when investing in cryptocurrencies. Conducting research and using caution is important, as the market can be highly volatile and unpredictable.
Identifying Factors that Affect Cryptocurrency Growth
When evaluating the potential growth of a cryptocurrency, it is essential to consider several factors that can influence its performance. One such factor is the level of adoption and usage. The more widely a cryptocurrency is used for real-world applications, the greater its growth potential.
Another factor to consider is the technology behind the cryptocurrency. Innovative technology and a strong development team can contribute to a cryptocurrency's performance and growth. Look for projects that offer unique and valuable features and are continually developing new technology.
For example, the KRRX token is a cryptocurrency that shows good growth potential thanks to the organic development of Kyrrex's regulated crypto platform. The platform has attracted a growing user base and the team is constantly developing new technology to improve the platform's features and performance. Despite a bearish market, the KRRX token has remained stable and liquid, demonstrating the importance of technology and adoption to a cryptocurrency's growth.
Analyzing Performance
To identify promising cryptocurrencies with high growth potential, it is crucial to analyze their performance. Here are some key points to consider:
- Price history: Look for cryptocurrencies that have shown consistent growth over time and have weathered market volatility.
- Market capitalization: Market capitalization can give an idea of the size and value of a cryptocurrency. Look for cryptocurrencies with a high market capitalization, which can indicate investor confidence and potential for growth.
- Trading volume: High trading volume can be an indication of liquidity and demand for a cryptocurrency. Look for cryptocurrencies with high trading volume, which can indicate a strong community of investors and traders.
- Fundamental analysis: Conducting fundamental analysis involves examining the underlying factors that can influence a cryptocurrency's performance, such as adoption, technology, and regulation. Look for cryptocurrencies that have a strong value proposition and a solid development team.
By analyzing a cryptocurrency's performance using these factors, you can make informed investment decisions and identify promising cryptocurrencies with high growth potential.
Conducting Due Diligence
When investing in cryptocurrencies, conducting due diligence is essential to minimize your risks and make informed decisions.
Firstly, it's crucial to research the cryptocurrency you're interested in investing in. Take the time to read whitepapers, browse community forums, and follow news and social media channels to gain a better understanding of the project's technology, development team, community, and roadmap. By doing so, you'll be able to make a more informed decision about whether the cryptocurrency has potential for growth and profitability.
Secondly, look for red flags that may indicate a cryptocurrency is not worth investing in. Be wary of promises of guaranteed returns, high-pressure sales tactics, and vague or unrealistic claims. Also, look out for cryptocurrencies with limited information, lack of transparency, or a history of controversy or scams. These can be warning signs that the cryptocurrency is not worth investing in.
Finally, assessing the risks associated with investing in crypto is important. Consider the volatility of the cryptocurrency market, regulatory risks, and technological risks. Evaluate the risks associated with investing in the specific cryptocurrency you're interested in and determine whether it aligns with your investment goals and risk tolerance level.
Conclusion
Identifying promising cryptocurrencies with high growth potential can be a daunting task, but with the right tools and knowledge, it is possible. By understanding market trends, analyzing cryptocurrency performance, conducting due diligence, and identifying promising trading pairs, you can make informed investment decisions that can lead to significant profits.
Remember to always do your research and use caution when investing in cryptocurrencies. The market can be volatile and unpredictable, but with patience and diligence, you can navigate it successfully.
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Kyrrex: Still Transparent, Still Trustworthy
We know that a global economy driven by better models of financial management is possible. We also know that harnessing the power of blockchain technology creates endless possibilities for individual investment, dynamic control of finances, and much more.
In light of recent events, trust in crypto and the limitless opportunities it offers might seem more distant than ever. As serious stakeholders, we want to use this opportunity to reach out to our loyal customers and the general public and assure them that Kyrrex remains unaffected while standing strong as ever.
The FTX Issue
To summarize the problem, FTX mishandled investor funds by using user deposits to make investments of their own. FTX did not inform users before proceeding on this course of action. The funds were used without client consent, meaning that FTX’s ‘side’ investments were unauthorized and therefore illegal.
Gaps and Leakages in the Crypto Industry
The recent spate of crypto setbacks reveal a number of gaps and leakages in decentralized finance. The biggest of these gaps is supervision: what guarantee can you, a crypto trader and investor, have that your preferred trading platform will not mishandle your funds?
In the decentralized market, you have a firmer grasp of your crypto assets and greater freedom to trade and invest without someone looking over your shoulder every time. But this comes with the risk of losing all your money if you entrust it to unsupervised third parties.
Solution with Kyrrex: Crypto-Fiat Banking
Crypto exchange platforms provide you a stage to trade and manage your crypto assets. But who/what keeps an eye on these platforms? Without strict oversight by a powerful body, you're essentially giving your money to an exchange do with as they wish.
Where there is no regulation, there is likely to be mismanagement and exploitation. Even if you can wager your life that an exchange platform is honest and will not mishandle your money, you have to admit that having the platform accountable to a higher authority increases your trust in it.
Turning to a centralized exchange like Kyrrex offers you the rewards of crypto without its major risk.
We believe that it is only when the crypto market is reasonably regulated that the crypto industry can flourish. Then, you will no longer have to deal with rugpull projects, fake developers selling you imaginary bridges in imaginary clouds, or situations like FTX that inevitably cause you to lose trust in every crypto exchange platform.
Kyrrex is Still Trustworthy
Kyrrex, as you know, is the first crypto-fiat bank. The same way we pride ourselves in being the first global bank, we pride ourselves in playing by the rules. There are several governmental and government-backed institutions that oversee our operations, and so we are licensed to operate in good faith. All of this is so that you can rest easy and continue to trust us.
We would like to place on record that Kyrrex Exchange has no dealing with FTX and its FTT token. Our exposure to FTX is zero. The exposure of our customers' funds to FTX is zero.
Here are a handful of reasons you should continue to trust Kyrrex as your crypto and fiat asset partner:
1- Kyrrex has the highest level of operational license in the crypto industry
Kyrrex operates under the Class 4 virtual Finance asset (VFA) License from the Malta Financial service authority (MFA). We obtained this license in November 2021, reinforcing our intentions to comply with every legal requirement and audit condition.
This class of license comes with implicit confidence by the regulatory authority in the licensee. It means that Kyrrex has been thoroughly scrutinized and found to comply with all regulatory rules regarding user deposits and operation models. It means that you can trust us to keep your money safe and secure because Big Brother is watching all our moves.
2- Kyrrex stores and backs your tokens with tangible assets like the dollar
As a crypto-fiat bank, Kyrrex allows you to use crypto tokens as easily as you use fiat currency. So, with Kyrrex you will be able exchange fiat currencies against digital assets and vice versa. This is because your tokens are safely stored and backed with valuable assets.
3- Kyrrex relies on its organic growth model for profitability rather than investors’ funds
At Kyrrex, we promote and use an organic growth model. This means that apart from the charges that our clients are aware of, we don’t touch their deposits or funds. This is another reason we have regulators overseeing our operations. They keep us on our toes and make sure our operations are always prudent and compliant with all legal provisions.
4- Kyrrex has a straightforward user withdrawal protocol
Kyrrex has always favored an uncomplicated and user-friendly operating protocol. Our withdrawal system is like this also. So, our clients do not need to read and sign thousands of pages of T&A before they can withdraw their funds from Kyrrex. Everything is clear and transparent. Your funds are your funds and you can withdraw them at anytime.
5- Kyrrex is not exposed to FTX, Alameda, or any institution implicated in the current FTX fiasco
Kyrrex is not exposed to FTX, Alameda Research, or any other crypto-related institution that has been implicated in the recent mess. So you can trust us unreservedly, we only build relationships with time-tested, reliable, and/or regulated exchanges.
So, Kyrrex remains worthy of your trust. However, we advise that when you use other exchange platforms, ensure that they are licensed and are committed to playing by the rules. Also, do not invest money that is not your own or spend more than you earn. If you can, avoid tokens that are not backed by tangible assets.
4min reads