Wynn-EX Exchange Review
It doesn’t come off as a big surprise that cryptocurrencies have experienced immense growth in the last few years. From their meteoric rise to the top in 2017, the crypto space has been growing. In 2009, when Satoshi Nakamoto had first introduced Bitcoin and the crypto industry, no one could have predicted that this space would become such a major game-changer in the financial space. Yet, this is exactly what these digital currencies have accomplished nowadays. There was a time when people didn’t believe these currencies could go anywhere because of their nature and the fact that they had become a tool for criminals.
However, things truly changed for the industry in 2017 when Bitcoin and the rest of the cryptocurrencies experienced their rise and thousands of people were able to make whole fortunes from their investment. People became millionaires within a matter of weeks, something they hadn’t achieved in any other market. The same kind of success was once more seen by investors in 2020 when the coronavirus pandemic caused every industry to suffer, yet the cryptocurrency market moved in the opposite direction. As a matter of fact, Bitcoin surpassed its previous all-time high and sky-rocketed, allowing many people to enjoy massive returns yet again.
Due to such promising returns and an equally promising future, it is not surprising that many others are also looking to jump the crypto bandwagon in order to reap in the profits. But, the question most people ask is where to start? The crypto market is not like the forex market or the stock market and you have to look for a cryptocurrency exchange in order to make your way into this space. This is where a lot of people can get stuck because they don’t know how to choose an exchange. It just takes you a simple search to discover that there are plenty of crypto exchanges that exist.
Considering the popularity and demand of cryptocurrencies, the number of exchanges for helping people invest in these digital currencies has also gone up. Thus, you will certainly not be running short of options any time soon. But, if you do some research, you will come to know that not all exchanges have a good reputation. The crypto market has had its share of scams and frauds and exchanges are at the heart of it. There have been some shady platforms that have existed in this market and you definitely do not want to end up with one such platform when you have decided to invest in the crypto market.
So, how do you find a reliable and legitimate cryptocurrency exchange? The best way to do this is by checking an exchange thoroughly in order to figure out what makes it a good option. This is what you need to do when you come across the Estonian-based exchange, Wynn-EX. It is a relatively new option in the market, which might be a cause for concern for some, but you will come to know that they have developed a good reputation in the market fairly quickly.
How has the exchange managed to do so? What makes it a good option? Let’s take a close look at their offerings and features in order to find out:
An Introduction to Wynn-EX
|Trading Accounts||One account|
|Assets Coverage||Cryptocurrencies; Bitcoin, Ethereum and More|
|Trading Tools||Trading Indicators, Trends, Live Charts, Technical Analysis Tools and Price Alerts|
|Education and Training||Yes; , Glossary, e-books, online video courses, webinars, tutorials and expert sessions|
|Customer Support||24/5 through email and phone number|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
|Parent Company||Xrg3olb OU|
Safety of Information
One of the most prominent concerns that people have when they are using an exchange’s services is the safety and integrity of their personal information. It is understood that you will be required to share some confidential and private data in order to register with a crypto exchange and to buy and sell your chosen cryptocurrencies. But, you are also probably familiar with the risks of your information being stolen by hackers and cybercriminals. Information has become just as valuable as money and can be misused if it ends up in the wrong hands.
Hence, this makes it a very valid concern for people and Wynn-EX has taken proper steps to reduce the risks and to provide a safe environment for buying and selling cryptocurrencies. They are aware of how sensitive the information they collect is and so, they have used advanced SSL (Secure Socket Layer) encryption on their website to protect the information. No outsiders are given access to the data and it is encrypted right away to keep it safe. You can find the SSL certificate on the exchange’s website for your peace of mind.
Implementation of KYC and AML Measures
Two of the most renowned and recognized security policies in the world are AML (Anti-Money Laundering) and KYC (Know-Your-Customer). These policies were developed for trading services and cryptocurrency exchanges to reduce the risk of these platforms being used for terrorist financing, money laundering, and financial fraud and identity theft. Considering the anonymous nature of cryptocurrencies, these risks are very high due to which Wynn-EX has also chosen to implement these measures on their platform. This is undoubtedly reassuring because you don’t have to worry about any shady individuals gaining access to the platform.
In order to comply with KYC and AML measures, people have to submit documents to Wynn-EX for proof of identity and proof of address. Their accounts will not be verified, which means that they will not be allowed to move forward with their buying and selling unless they submit these documents. To provide proof of identity, users have to submit a government-issued form of ID, which could be a national identity card, a driver’s license or an international passport. For proof of address, people can share any document showing their name and address. This could be a credit card bill, bank statement, or a utility bill, such as gas, water or electricity.
Availability of Multiple Payment Options
The whole point of signing up with a cryptocurrency exchange is because you want to be able to buy and sell cryptocurrencies. But, to be able to do that, you will obviously need to spend some money. Likewise, when you are selling, you will also receive money that you would like to withdraw. How do you make your deposits and withdrawals on a cryptocurrency exchange? The answer to this question means that you look at the payment options that are supported by the exchange you are considering. It is important to remember that no two exchanges may provide you the same options, so it is best to know what choices are available beforehand.
At Wynn-EX, you will discover that they have tried to add accommodating options to make it easy and convenient for everyone to deposit and withdraw their funds. First off, they have kept their payment procedures secure and compliant because they don’t want their clients to constantly be worried about the security of their funds. After all, there is a lot of money at risk and no one wants to suffer from heavy losses. They provide their clients the opportunity of using modern solutions like debit and credit cards. Support is available for both Visa and MasterCard options, so you can choose the card that seems convenient to you.
Secondly, they have also gone with the traditional choice of bank wire transfer, in case that’s the option you are more comfortable with. As far as the minimum deposit on Wynn-EX is concerned, it has been set at just $200, which makes it affordable for every individual. You don’t have to worry about making a hefty investment in the first go. Furthermore, you will also find that the exchange has been very forthcoming about the charges that people have to pay for deposits and withdrawals. They have mentioned that a 4.7% commission is charged, so you know exactly how much you will be expected to pay.
Intuitive Registration Process
Perhaps, one of the most vital steps that you have to complete in order to be able to buy and sell cryptocurrencies on any exchange is registration. This is true of any online service that you decide to use and the same is applicable in the case of a cryptocurrency exchange. You have to sign up with the exchange you choose, which means opening an account with them that you will use for making your purchases or selling your cryptocurrencies in the future. But, the thought of doing this can be very intimidating for people because they don’t know what to expect from the process.
Every exchange is different in this regard and you will come across some horror stories about some platforms having a lot of requirements and prerequisites, which are frustrating and time-consuming. The good news is that Wynn-EX is not like other exchanges in this regard. They have kept their registration process simple and intuitive, thereby making it easy even for beginners to sign up on their platform without any inconvenience or problems. As a matter of fact, the process is very quick and doesn’t take more than a few minutes for anyone to complete it.
To start the process of signing up on Wynn-EX, you have to first visit their website and click on the ‘Sign Up’ button that you can spot at the top. As soon as you do so, it will open up an online form that needs to be completed. This is fairly basic and doesn’t ask for any extensive or unnecessary information that might result in any problems for you. All you have to do to complete this form is to enter an email address and a password. These details will be used for logging into your account with the exchange later on.
Quick Customer Support
The kind of support you have available on a crypto exchange can have a big impact on your experience. Support is necessary because you never know when a problem or issue might spring up and having to wait for assistance can be quite frustrating. Sure, FAQs are helpful, but they may not necessarily provide you the answer you are seeking. It is better to be able to get in touch with their agents directly in order to get help. Wynn-EX has been proactive in this regard, as they have made sure that their clients can get in touch with their support team via email without any issues.
They have a form on their website that’s available under the Contact Us section and you can fill it out to communicate with their agents. They will respond to you quickly and professionally, resolving your problem and thereby ensuring that you can have a good experience with them.
Wynn-EX Exchange Score
Wynn-EX has taken proper steps to reduce the risks and to provide a safe environment for buying and selling cryptocurrencies. They have kept their registration process simple and intuitive, thereby making it easy even for beginners to sign up on their platform without any inconvenience or problems. As a matter of fact, the process is very quick and doesn’t take more than a few minutes for anyone to complete it.