Understanding what Cryptocurrency is
Cryptocurrency is an online medium of exchange to pursue financial transactions. It utilizes a new and burgeoning technological trend termed as blockchain technology that makes Cryptocurrency fast, reliable, transparent, and anonymous for the most part. Unlike your money, which is minted and printed by a central authority (usually government approved apex banking institutions), Cryptocurrencies are not under the control of any centralized authorities. This means that your investment is free from governmental and other authoritative interferences and meddling.
As there is no third party involved and no oversight of any centralized authority, Cryptocurrencies transactions can be directly handled by the two parties to the transaction.
Why Do Crypto Brokers Even Exist?
Cryptocurrency brokers are referred to as OTC trading services, since the services that a cryptocurrency broker offers are extremely similar and offer the same degree of functionality. One of the biggest advantages that an OTC based functionality offers (while enlisting the help of a cryptocurrency broker) is that it prevents the market from being alerted in case of a large volume transaction involving cryptocurrencies. If you are therefore looking to make a larger volume cryptocurrency transaction, the best way for you to move forward may be to enlist the help of a cryptocurrency broker. Similarly, another huge advantage that a crypto broker offers is not just for those pursuing large transactions, but also for those looking to purchase small amounts of cryptocurrencies. By preventing price volatility, and not needing to wait to be matched with a purchaser or a seller as necessary in case you are dealing with a crypto exchange, crypto brokers provide a huge advantage to those wanting to purchase cryptocurrencies in smaller volumes as well.
Furthermore, the extreme wait period involved in registering with a cryptocurrency exchange is also eliminated while using a cryptocurrency broker. Those who are not familiar with the process of cryptocurrencies also have a tremendous advantage, even if they are not fully acquainted with the concept of liquidity. Especially for those who are new to the process of blockchain technology and cryptocurrencies, enlisting the help of a broker such as BrightFinance can be tremendously useful, eliminate confusion, and reduce the time involved in the process.
To press on, those who are looking to deal in cryptocurrency in a convenient and time bound manner may be far more benefitted with the services of a cryptocurrency broker as opposed to registering on a traditional exchange. Another extremely significant advantage is also that often brokers provide additional services and avenues to make the process easier, such as additional payment methods (including the use of credit and debit cards). A greater liquidity pool is also witnessed by enlisting the services of a cryptocurrency broker such as BrightFinance online trading platform. Cryptocurrency brokers can also reduce slippage fees and reduce spread as sometimes, exchanges with low liquidity may result in higher spread and slippage fees that reduce your investment and drain your funds. Cryptocurrency brokers, on the other hand, are more easily able to identify the highest liquidity and thereinafter split the costs across the exchanges by obtaining the best market rates. Similarly, you do not have to wait to be paired with someone who wants to purchase or sell cryptocurrencies if you enlist the help of a broker, unlike in an exchange. By finding a reputable cryptocurrency broker, you can eliminate much of the confusion and tediousness associated with dealing in cryptocurrencies.
Furthermore, Bright Finance offers Multiple Account options. To start trading with a broker, one of the obvious requirements is to have an account with that broker. BrightFinance offers multiple types of accounts that you can choose from, depending on your needs and the volume of trade that you plan to conduct. They are:
- Basic Accounts
Importance of licensing of Cryptocurrency brokers
Is BrightFinance licensed?
Yes! The key consideration perhaps everyone has in mind before deciding on a cryptocurrency broker is as to whether that particular brokerage firm is licensed. Given that the cryptocurrency market is decentralized and not as heavily regulated, licensing becomes important to prevent fraud. However, you can rest assured that BrightFinance is licensed by a recognized authority enabling you to carry out your cryptocurrency and forex transactions with a peaceful mind and ease.
Another extremely significant advantage is also that often brokers provide additional services and avenues to make the process easier, such as additional payment methods (including the use of credit and debit cards). A greater liquidity pool is also witnessed by enlisting the services of a cryptocurrency broker such as BrightFinance. Furthermore, those who are looking to deal in cryptocurrency in a convenient and time bound manner may be far more benefitted with the services of a cryptocurrency broker as opposed to registering on a traditional exchange.
Therefore, due to all of the above reasons, if you are looking for a viable and reputable source to engage in cryptocurrencies, then head over to BrightFinance and your search is likely complete!