Pxycoin was founded in 2015 and obtained the msb license in the united states. it provides a wide range of blockchain asset services to global users. it focuses on finding high-quality innovative blockchain asset investment opportunities and is headquartered in the united states. Pxycoin is a one-stop blockchain asset service provider with global innovation and competitiveness. since its establishment, its products have been repeated, its operation has been continuously innovative, and its ecology has been steadily advancing, providing millions of users from all over the world with a safe and efficient open service platform. Pxycoin has stable innovation ability in public chain development, cross-chain technical support, business development, security risk control system, customer service system and other aspects, and has a competitive advantage in the development of globalization
since its operation in 2015, it has provided secure and reliable digital asset trading and asset management services to millions of users in more than 60 countries around the world, and has obtained the msb license in the united states. the platform currently has 5,000 new registered users every day. the average daily turnover was $3 billion, with peaks exceeding $10 billion. cumulative trading volume exceeded us $5 trillion
1. all decisions related to the services provided by the company shall be approved by the user. the company shall not be responsible for the damage caused by the transaction. by accepting this agreement, user acknowledges that it has fully read and understood the possible risks associated with the implementation of trade in the financial markets and the risks of any form of investment activities available to users using the company's appropriate services.
2. the user confirms that the risks associated with the transaction and execution of the trading application are acceptable in the system, taking into account the user's objectives and financial capabilities.
3. users acknowledge that transaction operations, real or virtual, and virtual currencies involve significant risks. interest rates can fluctuate on any day. due to the fluctuation of exchange rate, users may gain or lose the value of assets at any time. any currency can be affected by large fluctuations in its value, or even become worthless. cryptocurrency transactions have special risks and are not usually shared with official currencies or commodities or commodities on the market. unlike most currencies backed by governments or other legal entities or commodities such as gold or silver, cryptocurrency is a unique currency backed by technology and trust. in a crisis, no central bank can take corrective measures to protect the value of cryptocurrency or issue more money.
4. the user acknowledges and agrees that the company does not act as a financial consultant and does not provide investment consulting services, and any communication between users and the company can not be regarded as suggestions.
5. any unsupported cryptocurrency, token or by-product of hard fork, soft fork or any other type of abnormal network function, without an explicit acceptance agreement, will become the property of the company, and any and all rights, claims or causes of action of any kind are hereby waived by maintaining an account in the system customer.
6. the user understands and acknowledges that, for various reasons, the user account and the balance in the account may be suspended and the user may not be able to access it. user agrees to treat company as harmless and waives any right, claim or cause of action in connection with any damage caused by such action.
7. the user acknowledges and agrees to bear the risk of accessing and using Pxycoin there may be additional risks which have not been disclosed in this agreement. each user must carefully assess whether his financial status and risk tolerance are suitable for purchasing, selling or trading cryptocurrencies.
last updated: july 19, 2020
Pxycoin Review: Pros, Cons, and More
Broad Selection of Tradable Cryptocurrencies: pxycoin offers a wide variety of cryptocurrencies for trading. Competitive Trading Fees: The exchange provides competitive trading fees. Volume Discounts on Fees: Traders can benefit from fee discounts based on their trading volume or holdings of pxycoin's native token, PXY. Advanced Features: pxycoin offers advanced trading features like margin trading and futures trading.
Not Licensed in the U.S.: pxycoin is not licensed to operate in the United States, limiting certain functionalities and adding complexity for U.S. users. Uninsured Funds: Funds held on the platform are not insured, which can pose a risk to investors. Hacking Incident in 2020: In 2020, pxycoin suffered a major hacking incident where over $280 million in assets were stolen. While most of the stolen assets were recovered, it's a reminder of the security risks associated with crypto exchanges.
Who Is pxycoin Good For?
Before considering pxycoin, it's crucial to understand that this exchange is not licensed to operate within the United States. This limitation makes the platform challenging and risky for U.S.-based users. Here's a breakdown of who pxycoin might be suitable for:
What Makes pxycoin a Good Choice
pxycoin has several features that make it an attractive choice for certain investors:
Low Fees: pxycoin charges competitive fees, which can be further reduced by using the pxycoin Token (PXY). Wide Range of Cryptocurrencies: With over 700 supported cryptocurrencies, pxycoin caters to both new and experienced investors. Margin Trading: It's one of the few platforms where U.S. users can access margin trading for cryptocurrencies. Discounts with PXY: Users can enjoy a 20% discount on trading fees by using the pxycoin Token (PXY).
There are significant disadvantages associated with pxycoin, particularly for U.S. users:
Not Licensed in the U.S.: U.S. users cannot complete standard Know Your Customer (KYC) disclosures on pxycoin, limiting access to various features. Security Risks: Like many crypto exchanges, pxycoin is susceptible to hacking incidents, as evidenced by a major breach in 2020. Limited Security for U.S. Users: U.S.-based users who cannot complete KYC verification do not receive the same level of security and fraud protection as international accounts.
1. conditions of agreement
3. prohibition of use
by accessing and using this service, you represent and warrant that you are not on any trade or economic sanctions list (such as the un security council sanctions list). Pxycoin reserves the right to choose markets and jurisdictions to conduct its business and may, at its discretion, restrict or refuse to provide the service in certain countries.
4. service description
5.Pxycoin account registration and requirements
Opening a pxycoin Account
Opening a pxycoin account is a straightforward process:
Visit the pxycoin website and click the sign-up button. Enter your email or phone number and receive a verification code. Set up your password and configure your security settings, including identity verification and anti-phishing phrases. Once your security settings are in place, you can start trading. However, U.S. users should be aware that they cannot complete the KYC process, which restricts access to certain features and may impact security.
Cryptocurrencies Available on pxycoin pxycoin offers access to a vast array of cryptocurrencies, with over 700 coins available. Some of the popular options include:
Bitcoin (BTC) Ethereum (ETH) XRP (XRP) Cardano (ADA) Solana (SOL) Dogecoin (DOGE) Polkadot (DOT) Polygon (MATIC) TRON (TRX) A comprehensive list of pxycoin's coin offerings can be found on their website.
Let's summarize pxycoin's key features and ratings:
Trading: pxycoin offers a wide range of cryptocurrencies and competitive trading fees. Advanced Trading Features: The platform supports margin trading, lending, and staking. Security & Storage: Security measures are in place, with custody provided by Onchain Custodian and backing by Lockton. Crypto Wallet: Users can store their cryptocurrencies on the platform. What pxycoin Can Do to Improve The primary area where pxycoin can enhance its service is in obtaining U.S. licensure. U.S. users face challenges due to the inability to complete KYC verification, limiting their access and security. Gaining U.S. licensure would open up the full range of pxycoin's offerings to American customers and provide them with better protections.
In summary, pxycoin may be a better fit for international users, while U.S. users should be cautious due to the limitations associated with the lack of U.S. licensure.