What to Look for in an Exchange?

In a world filled with crypto exchanges, choosing the right one for you is not something you should do without careful thought. We at Bitnomics believe that an exchange should keep things simple and manage to keep the customers’ interests a top priority at all times, meaning it should facilitate fiat-to-crypto and crypto-to-fiat transactions at attractive rates, using a friendly interface and with strong security. 

Another critical factor sometimes ignored by crypto users is regulatory compliance and unfortunately, there are still many people who use exchanges that operate in an untransparent manner. Bitnomics changes the optics in that sense. We are headquartered in Estonia and licensed by local authorities to provide these services.

Due to regulation, all customers signing up with us must pass the verification process, which has different requirements depending on the amount each customer wants to exchange. This is a natural and instinctual process, so you don’t need to worry about it, but in order to start exchanging crypto, it is mandatory (regardless of country of residence). 

The exchange operation itself must be quick and hassle-free, something that can be ensured via a simple platform, with no over-complicated tools and features. When you buy crypto with us, all you have to do is to provide the required KYC documents, make the fiat deposit, provide your wallet address, agree to our terms and conditions policy, and then our team will process the transaction as soon as possible. 

It also depends on what cryptocurrencies you would like to buy or sell. Exchanges are different based on crypto coverage, so you need to make sure that the exchange you choose supports the token you’re interested in. Bitnomics facilitates buying/selling of Bitcoin and Ethereum currently, the two largest cryptocurrencies in the world by daily volumes. Needless to say, we are always on a quest to expand, and the list of tokens can grow periodically as new currencies emerge. 

A reliable exchange considers convenience when it comes to payment options. You should be able to deposit fiat or crypto via popular and secure channels, so your financial security isn’t compromised. We currently accept fiat payments via credit or debit card, as well as wire transfers or e-transfers, both of which have costs attached. 

Some people prefer the larger and more popular exchanges in the market, but smaller exchanges are usually able to offer better value. We at Bitnomics are aware that there are some larger brands in the market, but at the same time, we promise a personal touch and care put into every interaction with our customers – something others can’t seem to deliver. The exchange serves as a guide for anyone interested in the cryptocurrency realm, being a friendly gateway to the fascinating world of digital assets. 

One of the last qualities of a promising exchange is the customer support service. We have made this a top priority for us, and our clients can engage with representatives via phone, email, and the responsive live chat feature on the website. Anytime you have a question, there is someone ready and able to answer in a reasonable time. This is not conditioned by the amount you want to exchange, as we treat all our customers equally.

Risk disclosure

You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. The exchange of digital currency is considered a risky transaction with highly speculative outcomes. Bitnomics does not guarantee any profit from any activity associated with its services.

  • You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. You confirm that you understand and agree that the risks associated with the Services are acceptable by you, taking into account your objectives and financial capabilities.
  • You acknowledge that purchasing or selling Cryptocurrency carry significant risk. Prices can fluctuate on any given day. Because of such fluctuations, Cryptocurrency may gain or lose value at any time. Cryptocurrency may be subject to large swings in value and may even become absolutely worthless. Cryptocurrency trading has special risks not generally shared with official currencies, goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or commodities such as gold or silver, Cryptocurrency is a unique kind of currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrency in a crisis or issue more currency.
  • You should carefully consider if holding digital currency is suitable for you depending on your financial circumstances. Dealing and exchanging in cryptocurrencies involves significant risk. The value of virtual assets / currencies has high volatility (value can increase and decrease significantly in a very short period of time and at any given moment). Such price fluctuations bring uncertainty. The value of a virtual currency and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the currency, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers and news and hacker-attacks.
  • Your virtual assets may be lost by losing your password, private key or other security code. Virtual currencies have special risks that are not generally shared with the official currencies, because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Virtual currencies are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of virtual currency. Virtual currencies are autonomous and largely unregulated system of firms and individuals issuing currencies. The risk of loss in buying, selling or holding virtual assets / currencies can be substantial. You should therefore carefully consider whether exchanging virtual assets is suitable for you in light of your financial condition. Be careful to keep your private keys, passwords, security codes and words for yourself and change them on a regular basis. Bitnomics uses payment providers for transfers of fiat money for rendering exchange services and operating with the fiat money, whereas assisting banks do not, by any means, represent a medium of exchange, transfer, withdrawal, deposit or other transaction in connection to virtual currencies.
  • You acknowledge and agree that Bitnomics does not act as a financial advisor, does not provide investment advice services or guidance, and any communication between you and Bitnomics cannot be considered as an investment advice. Without prejudice to our foregoing obligations, in asking us to enter into any transaction, you represent that you have been solely responsible for making your own independent appraisal and investigations into the risks of the transaction. You represent that you have sufficient knowledge, market sophistication and experience to make your own evaluation of the merits and risks of any transaction and that you received professional advice thereon. We give you no warranty as to the suitability of the Services and assume no fiduciary duty in our relations with you. We may provide information on the price, range, volatility of digital currency and events that have affected the price of digital currency, but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell digital currency is your exclusive decision at your own risk and Bitnomics will not be liable for any loss suffered.
  • To the full extent permitted by the applicable law, you hereby agree to indemnify Bitnomics and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of our website, your use of the service or from your violation of our terms and conditions.
  • Bitnomics is not liable for any price fluctuations in Cryptocurrency. In the event of a market disruption, Bitnomics may, at its discretion and in addition to any other right and remedy, suspend the Services. Bitnomics will not be liable for any loss suffered by you resulting from such action. Following any such event, when Services resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
  • Internet transmission risks. Client acknowledges that there are risks associated with using the Software and Services including, but not limited to, the failure of hardware, software, and internet connections. Client acknowledges that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays client may experience when using the Software and Services, howsoever caused.