Albeit having been founded relatively recently, Profitrade247 quickly became one of the most popular cryptocurrency exchange platforms. Today, it offers futures, staking, fiat-to-crypto, crypto-to-crypto, borrowing, token launch, and other financial services to its customers, which exceed five million worldwide in number. The company is based in the United States. It accepts users from hundreds of countries with a few exceptions. Profitrade247 reports daily trading volume of just under $380,349,874. The centralized exchange boasts a confidence score of 54.48% and offers 192 currencies to choose from, which we’ll look at in more detail later. Its real trading volume is $252,255,000 according to estimates.
Products: What Can You Trade on Profitrade247?
Few exchanges in the sector have as many crypto assets available for trading as Profitrade247. The exchange is adding more and more coins over time. If you count the other assets, there are more than 500 you can choose from. This is a great deal considering the support for fiat currencies across the globe, which Profitrade247 offers. Your options are far from limited to spot markets. Profitrade247 also lets customers trade a large number of futures. You can use margin trading with leverage or trade short or long positions and exchange cryptocurrencies directly with other vendors through the Profitrade247 P2P trading desk. Payments in USD and other fiat currencies are accepted. The exchange’s available investment products are evidence of its renown in the industry.
Profitrade247 Review: Is It Simple To Use?
Profitrade247is a good fit for beginners because there is a demo account, where novices can test their skills in a simulated environment. Signup is relatively easy. You simply go to the exchange’s website and click on Sign up at the top right. Then, you choose a username and password and enter your email address. To set your password, you must use a combination of numbers and upper- and lower-case letters. You will receive an email after registering. You need to click on the link in the email to activate your account.
Profitrade247 Review: Platform Security
Is Profitrade247 safe? The short answer is yes, but the program’s trading platform doesn't have quite as much protection in place as some of its larger rivals.
Like most major exchanges, the majority of cryptocurrencies stored on Profitrade247 platform are kept in cold storage, meaning the majority of crypto is kept on servers not connected to the internet. The company maintains some crypto in «hot wallets» for liquidity purposes.
It's unclear if U.S. customers are insured against platform breaches. However, its European insurance policies specifically exclude crypto assets.
It's also worth noting that cash balances are insured for U.S. customers. Profitrade247 holds funds for U.S. residents in FDIC-insured custodial accounts and therefore are insured for up to $250,000.
Finally, like all other cryptocurrency platforms, there's no protection in place if your account gets breached. So it's extremely important to protect your passwords and other authentication measures.