Cryptocurrency is digital money created by certain algorithms with the use of cryptography (encryption). The word "cryptos" in Greek means "secret", hence the name of digital money. Encryption methods allow the cryptocurrency to be protected from fraud, while having such characteristics as audibility, i.e. transactions with cryptocurrency are publicly available for verification. Cryptocurrencies are stored and sent electronically from private wallets.
After you make a cash deposit from your bank account to your Crypto Arena account, you can order cryptocurrencies on the exchange. When your order is filled, you can withdraw your cryptocurrency to your wallet. You can buy crypto from either exchange or directly from other people via marketplaces. The best way you can pay for them is wire transfer.
By basic AML law, we are required to verify your account by asking who you are and where you live. When opening a basic account and starting to trade, we only ask a few things. This process is similar to a bank account creation and requires supporting documents. All personal information is stored inside an SSL Offline Vault; we require full identification i.e. passport or driver license, proof of residence such as a utility bill not older than 6 months and the proof of ownership of the payment method used.
Cryptocurrencies take every precaution to prevent fraud and be fully compliant with KYC and AML regulations for trading of digital assets.
We operate a 3D secure payment, guaranteed for your safety and security. We are able to accept Visa, MasterCard and wire transfers and transfers to a crypto wallet.
This depends on a number of factors. Usually, it is due to the difficulty of getting cash in or out of an exchange. If an exchange is having difficulty with their banks, and are unable to allow customers to withdraw cash easily, this leads to more cash at the exchange looking to buy fewer cryptocurrency - this pushes up the price of cryptocurrency at that exchange as more people look to buy crypto and then send them to another exchange where they can cash out.
Trading in cryptocurrency, or any other financial asset, offers many opportunities. However, it can be difficult to maneuver between brokers, spreads and management fees. That is why managing your own investments based on price variances is more relevant for trading beginners.
By using the financial tool called a CFD, or Contract for Difference, you are able to open a buy or sell position based on the current price of chosen cryptocurrency in a short amount of time. Increased leverage is also available for CFD trading, giving you caliber to increase the respective value of your investment. However, this means that the respective profits or losses of your investment will also be escalated.
Cryptocurrency investments are particularly volatile, making this type of trading very popular for investors looking for instantaneous results. However, most professional investors recommend expanding between several types of instruments; in order to manage risk levels correctly. At Crypto-Arena you can invest in currencies, cryptocurrency indices and CFDs on our user-friendly platform. If are unsure of the correct way to invest in a specific type of instrument, you can use our 24-hour Support Desk to find traders who specialize in that instrument and learn from them.