What is Cryptocurrency?
If you are a finance enthusiast, you would have definitely come across the term, “Cryptocurrency”. The term may sound complex, but it’s very simple. A new age digital or virtual currency that is secured by cryptography. The plus side is that it is nearly impossible to counterfeit or double spend. Bitcoin, launched in 2008, was the world’s first cryptocurrency and to date the most influential, widely accepted and widely known.
Over time, other cryptocurrencies have gained popularity, such as Ethereum, Litecoin, EOS and ZCash. They are not regulated by any banks or central government but blockchain technology ensures security.
Online Trade of Cryptocurrency
As you might be aware, stocks, indices, forex and commodities are widely traded via online trading platforms. As technology advances, Cryptocurrency also found its way to the online trading sphere.
Crypto is traded via two ways:
• CFD’s- you speculate on the price of the crypto on the market or
• Purchasing a particular crypto currency such as Bitcoin as a long-term investment hoping it increases in value.
Headquartered in Oslo, Norway, Terra Markets is no ordinary trading platform. They are an investment firm operating as a global cryptocurrency broker since 2009. They offer all the world’s cryptocurrencies combined under one trading account. They are regulated tightly by UK’s Joint Laundering Steering Group, which means they have to comply with strict guidelines for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT). They also have a corporate office in the UK, Ireland, Australia, Cyprus and Switzerland. They have quickly risen to become the world’s largest and most advanced crypto currency trading platform.
Terra Markets allow trading from your desktop, tablet or mobile. With a user-friendly web platform, access to crypto markets is smooth. Real time synchronization ensures your decision making is always accurate to the nearest second. Their mobile application is available for download on iOS and Android and rated 4.5 stars on the App store and 4.8 stars on the Google Play Store.
Types of Trading Accounts
With Terra Markets, they understand that every user journey is different. Therefore, within their trading platforms, they have five different types of accounts to cater to your crypto trading needs.
A minimum investment of £10,000 is necessary for account opening. And each account comes with guaranteed returns starting at 2%.
Benefits of Trading with Terra Markets
Even the most basic Terra Market account (Green) gets access to a wide range of trading tools, ICO access and a secured wallet. As you level up your account, you get access to insurance recovery, a personal broker and even a personal accountant starting with their Silver account. Once you level up to Gold, you get a personal financial advisor helping you with your crypto decision-making needs. And not just that, access to DAV project is available for Gold, VIP and One Million Club members. Not to mention ease of deposits and withdrawals. Terra Markets accepts Visa, Mastercard and wire transfers. Withdrawals are processed immediately thereby allowing clients access to their funds 24/7.
Downsides of Trading with Terra markets
Everything has its downsides. Since crypto investments based on speculation are risky, there is always a risk of loss. Unfortunately, Terra Markets does not have a STOP LOSS feature. Further, to set up an account, you require at least £10,000. Also, their personal broker and personal accountant facility is only available for customers with a Silver account, Gold account, VIP account or the One Million Club. This makes it difficult for small size investors to start their crypto trading journey.
Final Verdict on Terra Markets
Overall, they seem to be a well regulated, well established broker. They comply with Anti-Money laundering(AML), and combating financing of terrorism (CFT) regulations under UK’s Joint Laundering Steering Group. They have employed state of the art software in order to ensure lightning speeds of execution. They offer different trading platforms (web or mobile) for their clients based on individual preferences. On the whole, in terms of safety of customer data, security of funds and ease of withdrawals, they are a reliable broker in the crypto trading sphere.