Pxycoin Review (2023)

About Pxycoin

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

Legal Notice

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.

Privacy policy

this privacy policy will be effective for all customers on may 18, 2020.

last updated: july 19, 2020

we respect and protect the privacy of Pxycoin visitors, websites and customers. this privacy policy describes when you visit our services, including when we are on the site or any other website, page, feature or content we own or operate (collectively, the "site"), or when you use mobile applications, card applications, any third-party applications that rely on such apis, and services (collectively, the "services").

please read this privacy policy carefully.

accept this privacy policy

by accessing and using our services, you accept the terms of this privacy policy. if we need your consent to process your personal information, we will require your consent to collect, use and disclose your personal information, as described below. we can provide additional "timely" disclosure or information on data processing practices for specific services. these notices may supplement or clarify our privacy practices or provide you with more options on how we process your data.

if you do not agree or are not satisfied with any aspect of this privacy policy, you should immediately stop accessing or using our service.

Pxycoin  Review: Pros, Cons, and More

Pros

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.
 

Cons

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).

pxycoin's Disadvantages

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.

pxycoin Features

User Agreement

this agreement is made between you (hereinafter referred to as "you" or "your") and Pxycoin. you visit, use or click "i agree" Pxycoin or any of its websites（Pxycoin in ）、api（ Pxycoin in ）, any services provided by mobile applications or other related services provided by Pxycoin or any of its affiliated organizations (hereinafter referred to as "the services") as further described in paragraph 4 below, means that you have read them , understand and accept all the terms and conditions set forth in this terms of use agreement (hereinafter referred to as the "terms of use"), and that we Pxycoin in published privacy statement. in addition, you may be subject to additional terms and conditions that apply to some of the features of the service. please read these terms and conditions to regulate the use of services. these terms of use contain important provisions, including arbitration provisions requiring all claims to be settled by binding arbitration. the arbitration clause is set out in the following paragraph 14, "dispute resolution: place of arbitration, arbitration, waiver of class action, applicable law.". like any asset, the value of digital currency may fluctuate and there is a huge risk that you may incur economic losses when you buy, sell, hold or invest in digital currency. by using this service, you confirm and agree that: (1) you understand the risks associated with digital currency transactions; (2) you bear all risks associated with the use of the service and the conduct of digital currency transactions; (3)Pxycoin assumes no responsibility for such risks or adverse results. by accessing, using or attempting to use the service in any capacity, you confirm that you accept and agree to be bound by these terms of use. if you do not agree, do not visit or use this product.

1. conditions of agreement

Pxycoin reserves the right to decide, modify or change these terms of use at any time.Pxycoin will update the web page by（Pxycoin in ）the last amendment clause and the [latest revision date] notice changes shown on this page. any terms and conditions of use or modification of this website will be sent to the user immediately after they become effective. therefore, if you continue to use Pxycoin s services, you accept the modified protocol and rules. if you do not agree to any changes to the terms of use, please stop using the service immediately. Pxycoin xpects you to review these terms of use frequently to ensure that you understand the terms and conditions that apply to your access to and use of this product.

2. qualification

by registering to use the Pxycoin account (as defined in section 5 below), you represent and warrant that you: (a) have reached the age of 18 or reached the legal age for entering into binding contracts in accordance with applicable law; (b) are individuals, legal persons or other organizations with full legal capacity and authority to enter into these terms of use; (c) you have not previously been suspended or disqualified from using the service; (d) you do not currently have a Pxycoin account. if you are an employee or agent of a legal entity and in this capacity sign these terms of use on its behalf, you represent and warrant that you have all the necessary rights and authorities to bind the legal entity.

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

Pxycoin provides an online digital asset trading platform (encryption to encryption) for products commonly known as crypto tokens, digital tokens or cryptocurrencies (collectively referred to as "digital currencies"). Pxycoin does not provide legal tender transaction function as part of this service.Pxycoin is only a trading platform provider, not a buyer or seller of both parties.Pxycoin is not a market maker either. as further detailed in paragraph 5 below, users are required to register and open an account with Pxycoin and deposit digital assets before trading begins. traders may apply for withdrawal of digital assets subject to the restrictions specified in these terms of use. although Pxycoin is committed to maintaining the accuracy of the information published on this service, Pxycoin cannot and does not guarantee the accuracy, applicability, reliability, integrity, enforceability or suitability of the content provided through the service, and it will not be liable for any loss or damage that may be caused directly or indirectly by your use of the content. information about the service may change without notice and is provided primarily to assist users in making their own decisions. Pxycoin does not provide investment or advisory advice and is not responsible for the use or interpretation of information on this service or other communication media. all users of the service must be aware of the risks of digital currency transactions. Pxycoin expects all users to act with caution and deal responsibly within their means.

5.Pxycoin account registration and requirements

a. registration

all users of this service (hereinafter referred to as "user") must use the（Pxycoin in ）apply for a Pxycoin account. when registering your account, you must provide your real name, email address and password, and accept these terms of use, privacy statement and consent form. Pxycoin may refuse to open an account for you at its discretion. you agree to provide complete and accurate information when opening an account, and

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.

pxycoin Ratings

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.