Cryptopoint72 Broker Review
Cryptopoint72 Review
With numerous cryptocurrency brokers in the market, it is difficult for people to sort through all the options and find the right fit. You can go through this Cryptopoint72 review to decide if this broker can work out for you.
There was a time when access to the financial markets was not that easy and there were a number of barriers to entry that people had to overcome if they wanted to enter any of these. You had to have a substantial amount of capital, a great deal of knowledge about the financial markets and skills as well. It wasn’t something people could do on the side, or part-time, unless they had a lot of money and knowledge. So, people could only dream about making fortunes in these markets, as many others were known to do. With the advent of the internet and technological advancement, it became possible for people to turn this dream into a reality.
It became easy for people to jump into the financial markets, as barriers to entry were eliminated for the most part. It remains one of the biggest trends, even today, but it hadn’t experienced such hype until now, primarily due to cryptocurrencies. This market was introduced in 2009 when Satoshi Nakamoto launched Bitcoin, the first cryptocurrency. Most people were skeptical about its success and did not believe it would be able to pull through in the long run because the concept of a decentralized currency seemed alien at that time.
But, Bitcoin persisted and gained a loyal following over the years. Some other cryptocurrencies were also gradually added to the mix and the market grew slowly. The real change came in 2017 when the cryptocurrency market experienced an unexpected surge and the price of Bitcoin reached a value of $20,000. It was something no one could have anticipated and those who had stuck to the coin were able to make astronomical returns within days.
The interest in digital currencies increased twofold after this increase and people flocked towards the crypto space in droves. This was the time when the demand for cryptocurrency brokers began to go up and a number of them were founded. New cryptocurrencies were also being added and 2020 saw an even greater increase in the adoption of these virtual currencies, once more pushing up the need for crypto brokers. With Bitcoin reaching a price of more than $60,000 in 2021, more people than ever have made their way into this market.
Signing up on a cryptocurrency broker is a necessary step to complete because they are the ones that will facilitate the entire buying and selling process. With interest and demand for these digital currencies growing rapidly, the number of these brokers has also risen and you will find an array of options to choose from. Some of the platforms offer different financial instruments and have also added cryptocurrencies to their index, while others are solely dedicated to the crypto market and don’t offer any other instruments.
It should be understood that the latter kind of broker would be more useful because it will offer services, features and tools that are especially developed for the cryptocurrency space. As this financial market is different from the rest, this will come in handy and will allow you to make the most of your investment. But, it is imperative to remember that not all cryptocurrency brokers will do so. There are some genuine and reliable brokers that do exist, but there are shoddy ones as well. Similarly, there are also some scam and fraudulent cryptocurrency brokers in the market.
Thus, you have to exercise caution when you are looking at the horde of cryptocurrency brokers. You do need an authentic broker, but this shouldn’t be your only focus because it doesn’t guarantee quality services. You should do your due diligence and determine if an broker is the right fit for you or not. You can come to a conclusion after you have taken a look at their offerings and tools. The same needs to be done in the case of Cryptopoint72, one of the cryptocurrency brokers you will find.
Available Cryptocurrencies
The first thing you need to look at in a cryptocurrency broker in order to find out if it is the right fit or not is their asset index. You should check which cryptocurrencies are available for investment purposes, as this will have a direct impact on the return you can expect to make. Some people have specific cryptocurrencies in mind when they want to invest in the cryptocurrency market, while others just want to invest and are willing to do it in whatever options they can find. Of course, the whole purpose of cryptocurrency brokers is to give their clients access to the crypto market, but their offerings will vary.
Even though Bitcoin is the pioneer cryptocurrency and is still leading the market, it is no longer the only one that exists. Over the years, thousands of others have joined the mix and many of them have proven to be profitable and stable investments. More than 5,000 cryptocurrencies exist and more are being introduced regularly, as the market continues to grow. It is not possible for a cryptocurrency broker to give access to all the options in the market, but they can and do provide a range of options to their clients.
You can check out the available cryptocurrencies before making your decision. But, you should also keep in mind that some brokers may mislead customers about their asset offerings. They may not be able to deliver what they have promised. Likewise, there are also crypto brokers that don’t offer more than a couple of options and choosing an broker like this is not considered a wise move. The cryptocurrency market is highly volatile and carries a lot of risk. You should balance this risk through diversification, which involves investing your capital across different cryptocurrencies.
For accomplishing this goal, you need access to a variety of cryptocurrencies and this is what Cryptopoint72 offers to its clients. They have promised access to more than 15 of the prominent, popular and profitable cryptocurrencies and fulfill it for certain. You can find options, such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Monero available and they are working on adding some other options as well. You will be able to diversify your investment as much as you want and get the returns you want.
Account Opening Process
Before you can use a cryptocurrency broker for buying and selling cryptocurrencies, you will be required to open an account with them. There are some steps that have to be followed here, but these can be different for every broker. As a matter of fact, most people find this procedure to be daunting and stressful because a number of platforms tend to over complicate it. Having to fill out several forms, submitting numerous documents, signing contracts and waiting for approval of your request can be exhausting and frustrating.
While all of this is happening, you are missing out on the opportunities in the crypto market and this only adds to your annoyance. Furthermore, a lot of people are not comfortable with having to provide extensive personal information when opening an account, especially when they are signing up for the first time with the broker. What if the broker turns out to be shady? What if they share your information with a third party? These are all concerns that will be running through your mind and you want to avoid all this hassle altogether.
You want to find a cryptocurrency broker that doesn’t have any such complications and allows you to sign up without jumping through hoops. This is where Cryptopoint72 is a solid option and can be the right fit for you because their account opening process is straightforward and easy. You don’t have to worry about dealing with an endless number of steps or having to wait for your application to be approved. They don’t ask you to share a lot of personal information from the get go either. They do have an account verification process, but this can be completed later on.
You can initiate the account opening process at Cryptopoint72 by going to their website and filling out the form that will appear when you click on the ‘Join Now’ option. The form doesn’t ask for more than your email address and a password. You also have to enter a mobile phone number, which is then used for authentication purposes. Once you have done so, you are asked to agree to the Terms & Conditions of the broker, which you can find on their website. As long as you agree and click on ‘Accept’, your account will be created.
However, it is important to note that you have to be at least 18 to be able to create an account on this broker, as this is the only prerequisite Cryptopoint72 has established for its clients.
Data and Fund Security
The convenience, ease and other benefits of being able to trade and invest online are quite well-known. It is because of these that most people are driven to join the crowd, but there are some risks involved as well. No, these are not just the risk of investing in the financial markets because of their volatility, but the security and privacy risks associated with the internet. Ever since the internet’s use became widespread, cybercriminals found it as an opportunity to exploit people. There have been countless cyberattacks over the years in which people have had their personal information stolen and misused, or their money was taken over.
Therefore, people are constantly warned about sharing their personal information online, or depositing their money anywhere. The problem is that when you are signing up on a cryptocurrency broker, you have to do both. How else will you buy and sell cryptocurrencies, if you don’t deposit your money? You are required to share personal and confidential information for opening and verifying your account with crypto brokers as well. Doing so means that you are making yourself vulnerable and you definitely don’t want to do that.
In this case, it is the job of the cryptocurrency broker to protect the money entrusted with them, along with the data they accumulate. This sounds reasonable, but the issue is that not every broker will be able to deliver in this regard. Some opt for very basic security measures, or not at all, and this is one of the reasons why you will find various reports of brokers getting hacked and digital and fiat assets, as well as customer data stolen. No one wants to be exposed like that and the only way to ensure it doesn’t happen is to find an broker that prioritizes the protection of your data and money.
Indeed, such cryptocurrency brokers do exist and Cryptopoint72 is one of them. The first thing you should know about the broker is that it is registered and regulated in Estonia, something you can verify through the registration number of their website. Due to this status, they comply with the AML (Anti-Money Laundering) and KYC (Know-Your-Customer) policies. These require anyone signing up on the broker to provide proof of identity and proof of address.
The former can be done by submitting a form of government-issued ID, such as a national ID card, driver’s license or an international passport. As for the latter, it requires a utility bill like water, electricity or gas, a credit card bill or a bank statement. These details are used for verifying your account on the Cryptopoint72 broker and prevent any fake accounts from being created. The risk of identity theft, financial fraud and money laundering is also minimized with this verification.
But, all of this is sensitive information and you don’t want it to end up in the wrong hands. So, how will it stay safe? This is where you will find that Cryptopoint72 uses advanced SSL (Secure Socket Layer) encryption on their website. Hence, all data is encrypted as soon as it is shared and this can keep it safe from any prying eyes. Furthermore, their Privacy Policy also indicates that no information is shared with any third-party without permission of the clients, so you don’t have to worry about it.
As for keeping your funds safe, customer account segregation is implemented by Cryptopoint72 where customer accounts are maintained separately from the broker’s own. This is a way of ensuring that the money cannot be used to pay for the broker’s obligations, thereby reducing the risk of misappropriation. If the broker were to go bankrupt, they would be returned to the clients. Thanks to these security measures, the broker can be the right fit for anyone.
Platform and Tools
One of the most prominent features of any cryptocurrency broker is the trading platform it offers to you for buying and selling cryptocurrencies. This is the software that connects to the cryptocurrency market, helps in executing your orders and provides the tools needed for making well-informed decisions. No two brokers are going to have the same platform and they use this feature to distinguish themselves from the others in the market. It needs to be up-to-date and should have the tools and technology needed for investing in the cryptocurrency market.
If you do some research, you will find that a lot of people have complaints regarding the trading platform offered by cryptocurrency brokers and this can lead to a poor experience. You certainly don’t want to go through that, so it is best to see beforehand if the broker offers a suitable platform for you. Once more, you will find Cryptopoint72 to be the right fit because their trading platform has been designed to facilitate everyone, no matter what their background or skill level may be. Even if you are a complete newbie, you will be able to use the platform and its features, without having to deal with a learning curve.
This is due to the fact that the platform has a highly intuitive user-interface, which makes it easy for anyone to navigate it. As the cryptocurrency market is extremely volatile, sophisticated and cutting-edge technology has been used by Cryptopoint72 for empowering the trading platform. Thanks to this technology, you can keep track of the movements in the market in real-time and see the outcome of your decisions. It works smoothly and you will not have any complain about lags, delays or any other similar problems.
The interface is also a lot more organized than you would see on other trading platforms. A horde of tools have been integrated with the trading platform by Cryptopoint72 in order to make it useful for their users. The crypto price converter is one tool that stands out, as it allows people to calculate exactly how much investment would be needed in their chosen fiat currency to purchase a specific cryptocurrency. It is not something you will find on many brokers and can be incredibly useful. Some of the other tools that have been added include live charts and graphs, price alerts, trading indicators and signals, analysis tools and the latest crypto market news as well.
Along with this trading platform, you will find that Cryptopoint72 has also added mobile apps for Android and iOS devices because their goal is to allow their users to tap into the benefits of the crypto market from anywhere. The app offers a great deal of flexibility because it helps you monitor your account on the move. Moreover, no sacrifices have to be made in terms of features because the app has also been equipped with all advanced tools and has a friendly user-interface.
Customer Care
It doesn’t matter what business it is; customer care is one of the most crucial aspects because it can determine whether you have a smooth or stressful experience with them. In the case of a crypto broker, it is even more important because the crypto market moves quickly and is a relatively new one, so people tend to have plenty of questions and concerns. Even a tiny delay can lead to disastrous consequences and this is something every investor would want to prevent. The customer care offered by Cryptopoint72 leaves no room for such worries because they have proven to be quite thorough.
You can visit the Contact Us section of the Cryptopoint72 website, where you will find an email address and two phone numbers that can be used for contacting their team. You can also choose to fill out the online contact form they provide on their website, if that seems more convenient to you. Their agents are available 24/5 and are fluent in English, which makes it easier to provide help and assistance to every client.
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