Read our Cryptopoint72 review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is Cryptopoint72 scam or legit” and much more! We have checked all the aspects of this broker and we recommend Cryptopoint72 for online trading. It is NOT a scam. You can sign up with Cryptopoint72 in the link below, or continue reading the full review.
One of the cryptocurrency brokers that are providing their services in the crypto universe is Cryptopoint72. As there are doubts about the legitimacy of many brokers, this Cryptopoint72 review is aimed at helping eliminate any regarding this one.
The financial markets have always been considered profitable, even if a bit risky, and over the decades, many people have accumulated a great deal of wealth from them. You can find plenty of success stories of people from the forex market, stock market and others. While these have enjoyed a great degree of popularity, none of them ever experienced the same hype as seen regarding the cryptocurrency market. Unless you have been living under a rock for the past decade, chances are that you have heard about cryptocurrencies in general, or Bitcoin at the very least.
It is the pioneer cryptocurrency that was introduced in 2009 and did not make much waves at that time. As a matter of fact, there were many who believed it was insignificant due to its low value and didn’t pay much heed to it because of its decentralized nature. Its anonymity did not earn Bitcoin any favors and only made it a useful tool for cybercriminals. As it was used in a number of cybercrimes initially, Bitcoin developed somewhat of a controversial reputation. Nonetheless, it did have a loyal following that comprised of people who saw and believed in its potential.
Their belief ended up paying off in 2017 when Bitcoin, which has a limited supply of 21 million coins, saw its value go up to $20,000. This price increase happened within a matter of weeks, allowing people to make fortunes overnight and enjoying impossibly high rate of returns that no other financial market had been able to offer before. With the spotlight now turned on Bitcoin, more people began to move into this market and this is where cryptocurrency brokers were first launched.
These referred to platforms that were designed to help people in buying and selling the cryptocurrencies of their choice. Indeed, Bitcoin was no longer the other cryptocurrency that existed in the market and had been joined by a number of others that had also shown a lot of potential. Fast forward a decade and the cryptocurrency market has more than five thousand of these digital currencies and a number of them have managed to deliver high returns to their investors. Bitcoin is still leading the market in 2021 and has surpassed the $60,000 threshold.
In fact, 2020 and 2021 saw Bitcoin and the cryptocurrency market move towards the mainstream, as it isn’t just retail traders that are now entering this space, but institutional investors have also joined the crowd. There has been an astronomical increase in the investment in the crypto space, with Bitcoin predicted to rival gold as a store of value at some point in the future. Suffice it to say, the cryptocurrency market is not going anywhere and there is a lot of money to be made here, as indicated by its climb during the COVID-19 pandemic when every other market was suffering.
As stated earlier, you require a cryptocurrency broker to dive in and this is a challenging process in itself. Why? Due to the level of activity in this market, it was understood that many brokers would be established and they have increased tenfold by now. When you start looking, you will be overwhelmed by the sheer number of brokers that can be found and with each touting their services and offerings, it can be difficult to choose one. Opting for the first crypto broker is not a smart move because there is no way to guarantee that it would be legitimate.
Since the cryptocurrency market is unregulated, not every crypto broker that exists is genuine and you have to determine its authenticity on your own in order to avoid any rude surprises. Even though not all unregistered platforms are unreliable, you really cannot take the risk of using them because they can shut down overnight and leave you hanging. Also, they are more vulnerable to security risks than an authentic and legitimate cryptocurrency broker. There are a number of these that operate in the market and you need to find one for yourself.
AML and KYC Policies
When Bitcoin was launched and its anonymous and decentralized nature came to light, there were a lot of discussions about how it could facilitate numerous criminal activities. The crypto transactions are irreversible and it is not possible to track them, which means it could be used for money laundering, terrorist financing and even financial fraud. As a matter of fact, it did become a common practice of cybercriminals to use Bitcoin in their activities and they were able to get away with a lot of things, increasing the criticism surrounding the first cryptocurrency.
Therefore, when cryptocurrency brokers were established, there was a possibility that such illegal activities would be conducted through them as well. In order to ensure it doesn’t happen, these brokers decided to implement appropriate measures that could help in combating the risk. Of course, it was only genuine and legitimate cryptocurrency brokers that took these steps, as frauds, scams and shady ones were not really concerned about any of it and were only interested in their own gain.
One of the best ways to minimize these risks was through the use of KYC (Know-Your-Customer) and AML (Anti-Money Laundering) security policies. These are widely used across other financial markets and cryptocurrency brokers also adopted them to ensure their platforms couldn’t be used for any illegal activities either. As Cryptopoint72 is also compliant with the AML and KYC policies, it is a clear indication that this crypto broker has no intention of being misused and is concerned about providing fair and transparent services to its clients.
In accordance with these security policies, users are required to provide Cryptopoint72 with proof of identity and residence. The purpose is to ensure that every account belongs to a legitimate individual or entity and no fake accounts are made by cybercriminals, which also reduces the risk of identity theft. The proof can only be provided by submitting a passport, driver’s license or a national ID card for identity and a home utility bill (gas, electricity or water) or a bank statement for residence. All registered and regulated brokers adopt these policies to reassure their clients.
Information and Fund Safety
Anyone who uses the internet is aware that there are security risks that you have to deal with when you do anything online. It wasn’t long after the advent of the internet that cybercriminals took advantage and stole personal information of people for use in illegal activities, or stole their money. People are asked to exercise caution when they are doing anything online to ensure they don’t become a victim to any such cyberattack. The problem is that signing up with a cryptocurrency broker actually exposes you to these risks.
As stated above, you have to share a great deal of personal details and information with a cryptocurrency broker like when you comply with AML and KYC policies. If the broker’s system is hacked, your information can end up in the wrong hands and you will be the one suffering the consequences. Similarly, you have to deposit money for buying and selling cryptocurrencies and it could also be stolen by hackers. Subsequently, it is the responsibility of the broker to keep your funds and information safe. Not all brokers are capable of doing so and the shady or scam ones will not bother at all, as this is what they are interested in.
But, a legitimate and dependable cryptocurrency broker like Cryptopoint72 most definitely doesn’t take them lightly. They have used advanced SSL (Secure Socket Layer) encryption on their website for encrypting all traffic, as well as all the data that’s shared by their clients. Even if their system is hacked into, the cybercriminals will not find any useful information because all of it will be encrypted. To keep your funds safe, account segregation rules are applicable. This means client accounts are kept separate from the broker’s own, thereby ensuring there is no mix up of any kind.
It is well-known that Bitcoin was the one that started the tide, but it is no longer the only player in the market. It has maintained its lead in the crypto space without a doubt, but a horde of other cryptocurrencies have been introduced over the years and have given it some very close competition. If you take a look at the numbers, you will find that many of them have offered a high return on investment (ROI) to their investors and are expected to continue doing so in the future. Therefore, people no longer invest only in Bitcoin and have moved towards other promising cryptocurrencies as well.
Obviously, a cryptocurrency broker is needed for them as well, but this doesn’t mean that you need to sign up with a different broker for every cryptocurrency. Every broker offers a list of cryptocurrencies to its clients and you can check their options to see which one has those that interest you. The problem here is that many of the unreliable and scam brokers promise the world to potential clients in order to lure them to the platform, but don’t really have anything to offer. Not only is it annoying, but can also be worrisome because you will be trapped and may end up suffering from disastrous consequences.
A legitimate cryptocurrency broker would never lie or mislead its clients in any way and will be upfront about their crypto offerings. This is what you will notice when you check out Cryptopoint72’s crypto index. They claim to provide their clients access to some of the leading and promising cryptocurrencies in the market and this is exactly what you will get. Some of the options at your disposal include Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin and Monero. The best thing about having such choices is that you will be able to diversify your crypto investment with ease.
It is one of the most effective ways of mitigating the risks of investing in such a volatile marketing and making high returns, exactly as you would want. Moreover, you will also get the best rates for your chosen cryptocurrencies at Cryptopoint72 and they have even added an OTC (over-the-counter) desk to make this happen.
Versatile Trading Platform
One of the most crucial features of any cryptocurrency broker is the trading platform that’s used for buying and selling cryptocurrencies. It is the feature that users have to engage with the most, due to which it has a huge impact on your overall experience with the broker. If the platform is difficult to navigate, you may not be able to use it properly. If it is too slow or outdated, it will not be able to keep up with the fast-paced digital currency market and if it doesn’t have the right tools, you will have trouble in making good and profitable decisions.
You will come across a lot of people complaining about the trading platform of one broker or the other, which later turned out to be scams or were shady brokers. A registered and legitimate cryptocurrency broker would know the role of the trading platform and wouldn’t make any compromises in its technology, user-interface or tools. Otherwise, they would end up losing customers and develop a bad reputation in the market. A quick look at the trading platform at Cryptopoint72 shows that they have definitely not made this blunder.
A versatile trading platform has been developed by Cryptopoint72 for facilitating all its clients in buying and selling the cryptocurrencies of their choice. They have used state-of-the-art technology for developing this feature-rich platform, but have kept the user-interface simple and friendly to avoid a learning curve. This has made the platform a suitable one for everyone, regardless of whether they are just starting out, or have used a crypto broker before. The platform is easy to navigate and offers access to everything that may be required during the trading process.
All you have to do is log onto the Cryptopoint72 website and you will be able to use the trading platform, which makes the process hassle-free. Keeping up with the latest trends, mobile apps have also been incorporated for iOS and Android devices that can be used for trading and monitoring your account on the go. It doesn’t matter where you are, you will be able to access your account via your smartphone and tablet and stay up-to-date with what is happening in the market.
No matter which platform you decide to use, it will not just operate seamlessly, but Cryptopoint72 has also ensured that it will show you everything in real-time and keep up with the volatile market with ease. They have also added a plethora of tools that people will find useful when it comes to making investment decisions. You cannot just buy and sell crypto on a whim, as there are a lot of factors to be taken into account and these tools just make it easy for people to do so.
One of the tools that Cryptopoint72 has added and has proven to be utterly unique is a crypto price converter. It can be used for converting the price of any cryptocurrency of your choice into any fiat currency for figuring out how much you need to buy it, or what you can get if you sell it. Similarly, there are other tools that can also be found, such as a variety of charts and graphs, the latest crypto market news, trading indicators and signals and price alerts as well. These all play a vital role in making well-informed investment decisions.
Round the Clock Support
One of the best ways of identifying scam and fraud platforms is to take a look at the company background, or any other information they provide and the channels they offer for getting in touch, if any. Scam and shady cryptocurrency brokers are either vague about their history, or offer no information at all. As for reaching out, they don’t provide any channels that their clients can use, or the ones available are not functional because they obviously don’t want to be traced. Reliable and legitimate cryptocurrency brokers, on the other hand, understand the importance of support and ensure their clients don’t have to face any problems in this regard.
Therefore, taking a look at the support section is one of the easiest ways to determine whether a crypto broker is legitimate or not. The background information about Cryptopoint72 has already been mentioned above and when it comes to the support they provide, you will certainly not find them lacking in this area. They have a Contact Us page on their website, where you can find all the related information. You will notice that they have added several channels that their clients can use for getting in touch with their agents.
The customer support team at Cryptopoint72 is fluent in English for catering to their users in different parts of the world. They have shared their full office address, if anyone wants to make use of it. Apart from that, an email address is provided on the website for making contact. If that doesn’t seem feasible, you have the option of giving them a call.
They have also added a web contact form on the same page that you can fill out and Cryptopoint72 representatives will contact you themselves for resolving your problem, or answering your queries. They are available 24/5 for your ease and the staff is knowledge about the cryptocurrency market. This enables them to offer viable solutions, rather than providing vague answers. They are very prompt and friendly as well, so you will not have any issues with their service.
When you have gone through all these offerings by Cryptopoint72 and also taken a look at their quick registration process and easy deposit and withdrawal process, you will come to the realization that it is undoubtedly a legitimate crypto broker.