A cryptocurrency exchange is required to trade cryptocurrencies. However, there are many reports of exchange hacks. It is scary to think that the money a user puts into an exchange could be stolen.
Additionally, many exchanges are located outside of the United States. Also, depending on the countries where the exchanges are located, they may have freer laws and security, which makes them vulnerable to hacking.
ARKcoin (https://arkcoin.cc/), on the other hand, is an exchange that is actively trying to address these security issues. It is based in the United States and claims to have never been hacked. The platform is also simple to use and offers reasonable costs. Many cryptocurrencies available on ARKcoin can be purchased directly in USD. This review will take a deeper look at the ARKcoin cryptocurrency exchange platform.
What does ARKcoin offer?
ARKcoin’s popularity stems from the fact that it has one of the easiest and fastest purchase processes. It also helps that it is a US regulated company.
A user can trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin on the ARKcoin platform without first converting their base currency to another cryptocurrency.
ARKcoin, like other cryptocurrency exchanges, provides a digital wallet to hold a user’s digital assets. They can keep all their cryptos on a smartphone using the ARKcoin wallet.
ARKcoin Wallet apps are available on both the Apple App Store and the Google Play Store and are decentralized. It uses the most advanced security technology, such as Secure Enclave and biometric authentication.
Is my money safe with ARKcoin?
Cryptocurrency exchanges are a common target for cybercriminals. ARKcoin, on the other hand, prides itself on being one of the few exchanges that has never been hacked. It also claims to keep less than 2% of its customers’ money online.
When a user accesses their ARKcoin account and deposits/withdraws money, they can use two-step verification. Its Universal Second Factor (U2F) uses a security key or time-based one-time password (TOTP) to authenticate users using mobile authentication software like Duo or Google Authenticator.
ARKcoin is a custody service, so keep that in mind. This means users don’t have direct access to their money or the private keys that go with it. They should remember that ARKcoin can and has frozen user accounts without warning, although this has only happened in serious circumstances.
Is ARKcoin good for beginners?
This platform is often considered one of the best cryptocurrency exchanges for beginners due to its user-friendly web and app interfaces. Experienced traders, on the other hand, may want to look for a platform with more charting capabilities or lower trading fees.
How to open an account
A verification email will be sent to a user when they complete the initial registration form on the website. After that, they will be asked to choose whether they are an “Individual” or a “Company”. If a user wants to set up two-factor authentication, they will also need to provide their phone number.
Using a photo ID, driver’s license or passport, ARKcoin will ask the user to verify their identity. Finally, the user must associate a payment method with their account, such as a bank account, debit card or credit card.
Features of ARKcoin
Ease of use
ARKcoin is really simple to use. Registration takes no time, and then users can link their bank account to their account using the Plaid data transfer network, which is the recommended approach to reduce trading fees.
The user interface is dynamic and easy to use. Users can use a search bar to browse the myriad crypto options available, from Bitcoin to Tellor, and they can schedule purchases to recur on a regular basis.
As for those who want to go a little more technically, ARKcoin allows users to exchange certain cryptos for other cryptos, so they can convert their Litecoins to Augur, for example.
Those who have particular coins in their ARKcoin accounts can receive rewards by allowing ARKcoin to stake them or use them as collateral to validate transactions for proof-of-stake cryptocurrencies, such as Ethereum.
Don’t worry too much about customer service. They can contact customer service at any time of the day as it is open 24/7. Moreover, the presence of a 24-hour customer service center is also quite important to note.
User-friendliness of the interface is guaranteed by features such as the ability to use a demo account before engaging in live trading, customization, and responsive customer support. Moreover, it has been proven to generate income; however, it is not guaranteed.
Basically, to learn more about ARKcoin, be sure to contact the team for more answers!
(Devdiscourse journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse claims no responsibility for them.)