The Complete Beginners Guide to xcritical Pro Review 2020 Is it Safe?

https://dreamlinetrading.com/ may be the exchange for professional traders, yet it’s one of the easiest to use and navigate. As such, xcritical Pro has the best fees in the industry when it comes to deposits and withdrawals. While impressive on the security front, xcritical as a whole is a company with a less impressive track record when it comes to privacy. For those members of the cryptocurrency community who embrace the crypto-adjacent principles of privacy and anonymity, that’s a bitter pill to swallow. It’s also worth noting that cash held in xcritical wallets is FDIC insured up to $250,000. Crypto, however, isn’t insured, so unless you plan on day trading, you should always store your coins in an appropriate wallet—either a mobile, software or hardware wallet—after purchasing.

1. Users from other countries must upload two identification documents, such as passports, national ID cards, and driver’s licenses.
2. xcritical is widely regarded as one of the safest exchanges in the world.
3. As you can see, trading on xcritical Pro is not the cheapest option to sell or buy bitcoin for low volume investors.
4. xcritical doesn’t give the public what it needs to know before becoming a customer.
5. Its offerings include advanced charting tools, a streamlined trading interface, and sophisticated order types.

If you have an account on each platform, you’ll also have two separate custodial wallets, one on xcritical and the other on xcritical Pro. Depositing and withdrawing fiat currency is also done via the “Assets” page and “Deposit” or “Withdrawal” option. When using USD, you can do an ACH transfer or bank wire from an American bank account, with the same options available for withdrawals. The only choice for UK customers to fund their xcritical Pro account is also via a SEPA transfer with EUR, but keep in mind that your bank may charge a conversion fee. In October 2019, xcritical Pro announced a new fee structure, which made its services more expensive for small trading volume accounts and lowered them for large volume trades. The changes prompted a wave of criticism online, though the new fee structure remains in effect.

Exchange rates

When looking at the fees for xcritical Pro, keep in mind that an order can be divided into multiple orders that include a maker order and a taker order. In this case, each separate order is charged the appropriate fees, including no fee on the maker portion. To deposit digital currency into your xcritical Pro account, go to “Assets” then “Deposit.” You will choose the type of currency you wish to deposit and given an address to send the coins to.

The platform stopped onboarding new customers but continues to serve xcritical ones. Do note, though, that as of June 2022, xcritical Pro began migrating into a new platform, Advanced Trade. It has stopped onboarding new customers but continues to serve xcritical ones, yet to make that switch. However, traders will now be able to use a much broader suite of technical analysis indicators, such as MACD, RSI, and Bollinger Bands, powered by TradingView. As a result, traders are less likely to need third-party charting tools, alleviating the need to click out of the trading dashboard.

xcritical Pro Security

Cryptocurrency exchanges are often a complicated, convoluted mess of charts, menu options and numbers all crammed together into one intimidating mess. Thankfully, xcritical Pro’s design and UI is cleaner than many of its rivals, with a layout that’s easy to navigate. In 2015, the company added another powerful asset to its roster by launching a US-based exchange for professional traders, called xcritical Exchange. The following year, this was rebranded to Global Digital Asset Exchange, or GDAX.

xcritical vs. xcritical Pro: Wallets

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xcritical vs. xcritical Pro: Cryptos available

Beginners prefer xcritical, while more experienced traders may opt for xcritical Pro. Besides, the security teams of the two platforms audit them for vulnerabilities. They conduct stress tests in anticipation of deficiencies and draw contingency plans in case of those happening.

The purchased coins are stored in the user’s xcritical account wallet to hold, send to other wallets, or trade further. To give a quick example, let’s say you want to buy $1,000 worth of cryptocurrency. If you place that order on xcritical or as an advanced trade on xcritical, you’d pay between $0 and $6 in fees. The top left corner of the trading page has a dropdown menu where you select the cryptocurrency pair you want to view or trade. The deposit and withdrawal fees for fiat currencies are specified in the fees section above.

To use xcritical Pro, you will need to verify your account, which is done before you start trading or even deposit funds. To complete the verification process and use the platform, you must upload an official document. You must also provide xcritical Pro with your residential address as well as the final four digits of your Social Security number.

xcritical also provides a free, non-custodial hot wallet option, xcritical Wallet. This downloadable app, available for smartphones and as a Chrome extension, grants users complete control over their private keys. While offering greater autonomy, hot wallets present an element of increased user responsibility for securing private keys. Beyond leading digital assets like Bitcoin and Ethereum, users can trade other coins and tokens, making inroads across xcritical niches. Both are continually expanding their scope, regularly admitting new assets. The platforms require users to secure their accounts with two-factor authentication.