TradeIO, one of the best cryptocurrency exchanges, has now opened its doors to fiat deposits. Without a doubt, this will be a game changer for many traders in the arena who are looking towards multiple entry points and investment options.
It can be a task-and-a-half to get your fiat money into an exchange and ready for trading. I've been there, and I'm sure many regular traders have as well:
Every so often, you find your favourite coins on the exchange dipping to a reasonable price and you want to take advantage, but there are no liquid funds to trade with. So you transfer some of your fiat from your bank to your BTC wallet. Then you wait... and wait... and wait. Though it's faster than a usual overseas banking transfer, in the modern digital world, it seems endless. Sometimes the window of opportunity has passed by the time your Fiat funds have been transferred to the exchange of your choice and exchanged into the cryptocurrency you had in mind. This costs time, it can cost you your profit, and it's annoying, to say the least. Well, not anymore when you trade at Trade.io!
What is Trade.io?
First things first: of course in order to make a well-informed decision about trading with them, you'd need to know the company a little. In their own words: "Trade.io is an exchange that offers lightning-fast execution and a fully-customizable interface." When opening an account, you'll be asked to fill out the KYC (Know your Customer) form, add some documents like proof of address and proof of ID, and within a short time, you'll be ready to deposit funds, trade and/or withdraw cryptocurrency or fiat. My account verification took less than 24 hours.
Current State of Fiat Deposits
Trade.io has come up with some new solutions for their customers to deposit and withdraw their money. After the verification process, you can deposit fiat currency using instant bank transfer or international bank wire transfer (SWIFT). These transfers are usually instant, as the name implies, so this way you won't lose valuable time. Initially, fiat deposits will only be possible in EUR or GBP, but more will be added in time.
You can now trade in the following pairs of fiat currencies and cryptocurrency:
ETH/EUR
BTC/EUR
ETH/GBP
BTC/GBP
LTC/EUR
LTC/GBP
XLM/EUR
XLM/GBP
USDT/EUR
USDT/GBP
This is quite something. There may be other exchanges who offer fiat bank transfers, however trading is usually limited to one Fiat option to BTC so you'd still have to do a few trades to get any other coin. With the extensive list above it's, of course, possible to trade into any other coin offered by the exchange.
The costs of bank transfers are charged by your bank and will be displayed clearly before making a transaction. These charges may vary as per the bank and country.
Customers who joined the liquidity pool have an even better deal: they don't have to pay any fees because Trade.io will take care of the service provider (PSP) fee for them. If you're planning to transfer and exchange larger amounts of fiat and more often, this could be something to look into. The liquidity pool can be joined by locking 2,500 TIOx (approximately $220.00) in the pool while you share in the profits.
Depositing fiat by using a credit card is already possible at Trade.io, but only while exchanging into BTC or ETH. Now there are plans to make this easier as well, by offering these deposits directly to the customers' fiat balance. The customer can then decide for themselves which coin to buy from the list above.
Below you will find the list of costs and fees displayed, you can also find the full list here.
Countries excluded from trading in the Trade.io exchange can be found here.
Conclusion
By opening up their doors to fiat deposits and withdrawals, Trade.io is making it easier for people to deposit, trade, exchange and withdraw their funds. While this used to be quite a complicated and tedious task that took a lot of time, the decision to implement these changes will undoubtedly be a game changer for many active traders, while also lowering the threshold for interested parties who would otherwise be lost in the everchanging world of cryptocurrency trading. This will in its turn result in more people buying, trading and selling cryptocurrencies, which is great news for all parties involved. While Trade.io seems to be the trend-setter exchange in the fiat-crypto trade, I am sure that others will soon follow suit.
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Disclaimer: This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.
not aware of this exchange
Well, who would have thought, that I could teach the King something new? 😉
Very well written article @misslasvegas!
I remember filling in the KYC for trade.io and it was indeed super fast. Normally it takes at least a day (or more), is my experience.
So far I've been only using one platform to withdrawal my earnings, not because they are the cheapest, but because they are fast, it's on my bank account within hours. But I'm now going to explore what it will cost me using Trade.io, as it's a feature I'm using several times a month. When this service can be delivered with less costs, I will gladly make the transfer to Trade.io for deposits and withdrawals!
Thank you @anouk.nox! I didn't even know there was another exchange where fiat withdrawals are possible. I used one platform before, but I needed to transfer from another place first, and they both charged a lot. Then exchange to EURO and withdraw. This took 3 days! I am definitely looking into this feature at Trade.io!
This is good move by the exchange. Addition of fiat open doors for more traders and this good for us as a community. I know many people who are not much interested in trade format of crytpo to crytpo and even I don't use this method much. Since exchange has started fiat so I will giving it a try soon and hope my experience will be good.
Thanks @misslasvegas for a nice and thorough article about trade.io and this new feature addition. Appreciate your efforts to share more awareness.
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Thank you for your kinds words @alokkumar121! Yes, this is definitely good news for everyone who trades crypto or is otherwise interested. And I'm pretty sure now others will follow. They can't be left behind!
Surely, Trade.io is setting the pace in the crypto exchange world. With this development, it becomes very easy for the non "IT savvy" to trade crypto. The steps are quite easy and transactions are fast.
I know more awesome developments are on the way especially with Trade.io collaboration with @Oracle-d
Absolutely, and I'm proud to be part of that. The sky's the limit!
Absolutely, and
I'm proud to be part of that.
The sky's the limit!
- misslasvegas
I'm a bot. I detect haiku.
Wow! I'm thrilled to this update about @tradeio
Personally, depositing fiat to some exchanges has always been a problem for me as I have to pass through third parties to purchase bitcoin before transferring to my exchange wallet.
With @tradeio breaching this gap for me and many others, it is certain that the exchange has its costumers to heart. I'll check the exchange and see to try it out.
Thank you!
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Yes, it opens doors to people who would otherwise have to go through great lengths to begin to trade. I'm very much looking forward to what else they have in store in the future.
I haven't looked into trade.io yet but it looks a bit pricey to me, especially when you add in Bank Charges. But then I don't have much experience with this. Maybe this is fairly standard.
I think it's pretty standard. I've always used one platform to get my money on to a prepaid card, and the costs for that are outrageous.
This is a very optimistic move by Trade.io
The newly included Fiat deposit feature just sets the platform above all other trading platforms. Trade.io is indeed a revolution in the Crypto sphere. It deposit steps are quite easy and the transaction is fast. My take concerning this platform is just its Simplicity.
Yes, I think it's a great move to make. Something that's been due for a while. So for trade.io to be on top of things means great things for the future I think.
The brain behind this great service is something else. It is gradually climbing the ladder and turning/taking the Crypto/trading line to the next line. I am so happy been a partaker of this great service, could have been a bad one if I missed out.
Integrating the fiat deposit into the trade.io is a milestone achieved. I just cant wait to start flexing this service.
This is a great move @trade.io @oracle-d
Yes, great things are on the horizon!
This is good news, I not wish they added PayPal to the deposit list as I am big on PayPal. So how about fiat withdrawals? Can I sell my BTC for fiat ? Wasn’t sure about that part. I think that is what many new users of crypto need more of. All the same fiat deposits is s big move that will make things more convenient, let’s see what trade.io will do next. They always seem to have ongoing announcements.
Yes, they seem to be on top of things and are moving very fast. As far as I understand it, you can exchange BTC to EURO or Pounds and then withdraw to a bank account. Paypal, I'm not too sure if that will be implemented in the future. But we'll see.
Hi @misslasvegas. Ini adalah langkah yang sangat optimis oleh Trade.io
Fitur setoran Fiat yang baru dimasukkan hanya menetapkan platform di atas semua platform perdagangan lainnya. Trade.io memang sebuah revolusi di bidang Crypto. Langkah setorannya cukup mudah dan transaksinya cepat. Pandangan saya mengenai platform ini hanyalah Kesederhanaannya.
Hi @muhammadrizki96,
Terima kasih! Saya melihat masa depan yang baik bagi perusahaan dan semua orang yang terlibat.
Well, I can't wait for Naira to be added to the exchange. I've always transacted with other currencies, and trust me, having to calculate what my returns will be is hectic sometimes. It might be easy if everything I do is in Naira. Yes, I'm a Nigerian.
Nevertheless, this is a great move. I've been in the kind of situation mentioned up there. Crypto to Crypto can be frustrating a times, so introducing fiat is really an impressive improvement. I've registered already and I'm trying to get my KYC approved. I hope to give a better review on my user experience later.
I'm looking forward to hear about your user experience! Who knows, they are planning to add more currencies, it might just be yours. But it's a good start!
This is good information to know. i need to start looking at ways that I can go both ways with out any hassles. I have used an app for deposits but haven't tried withdrawals yet and this could be an option. Thank you for doing such a thorough post on trade.io
You're welcome! Yes, it can be a hassle to withdraw. Personally, I've always used a cryptocurrency wallet with a card, but they charge crazy amounts of exchange rates and the fees for withdrawing. If you'd try to withdraw $100,- it'd probably cost around $15,- to get it out. Thats's a lot of money to pay for withdrawing your own funds, especially if you add it all up when withdrawing regularily.
Thank you for stopping by @cryptoandcoffee!
Haha, so fantastic. I have been talking about this in tweets and also community groups. Our people in Indonesia welcome this renewal. Hope that the USD will also be listed soon until we do that.
Or maybe now exchange IDR to EUR, but it's rather difficult.
Hopefully trade.io can be the latest revolution for crypto trading.
Yes, Indonesia has such a large crypto community, I'd say it won't be long till IDR becomes available somewhere for trading. Would be amazing if trade.io is the first!
It is very interesting for us to look forward to that.
I'll be moving to Indonesia when that becomes the case! (or maybe sooner)
😀 good...
I've been a user of Trade.io and I must say that the idea to incorporate fiat deposits into their platform is a milestone achievement. I believe this will increase the adoption of Trade.io
Absolutely. I agree! This is amazing news for all traders.
Absolutely. I
Agree! This is amazing
News for all traders.
- misslasvegas
I'm a bot. I detect haiku.
Not sure I've seen something as fantastic as this in my little experience of cryptocurrency exchange. Tradeio is quite new from my little research and they seems to have achieve a lot within the short period of their existence. This fiats trading pair will not only provide options for traders but will also serve as avenues to bring a lot of new investors/traders into cryptocurrency. An awesome development by the exchange team.
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Yes, great news for all of us! I'm now looking into their liquidity pool, because I think their token will surely rise once more people know about this.
This is such a milestone for Trade.io. I love that those who joined the pool do not get any fees. I think that is one of the qualities that make it attractive.
Yes, that is absolutely a smart move and great selling point. I think it's a milestone for us all!
I have been following TradeIO from few weeks, it's definitely amazing us with each update. Depositing fiat for exchange gives great opportunity to invest immediately before loosing the chance. Awesome feature that it is.
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Yes, I am loving every new thing they come up with. It wouldn't surprise me if they become the new Binance.
Do you offer any rewards for people who delegate?
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I'm not sure who you're referring to? This article is about an exchange, Trade.io. :)
Very interesting project..!
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It sure is! And one with a great future I think.
Traideio has been one of the best exchange platform for fast, reliable and seamless transactions site. The interface is very easy and transaction is very fast than no other. Kudos to you
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Yes, they really seem to be on top of things.
Thank you for stopping by!
Yes, they really seem
To be on top of things. Thank
You for stopping by!
- misslasvegas
I'm a bot. I detect haiku.
You are welcome
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Thank you so much :)
Congratulations @misslasvegas!
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Thank you @arcange!
You're welcome @misslasvegas
This is what we crave for, and it's here. This would surely make Trade.io a space for many skins.
I believe it's very good news!
I have been really impressed with Trade.io. It seems like they are coming out with some great things every time I turn around. Now they just need to be available where I live. Silly SEC rules and regulations...
I know!!! It's ridiculous really and still all about control.
I really hope that changes in the near future.
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Wow!
This is a good move by trade.io,ive been expecting something like this, additional Addition of fiat open doors for more traders and this good for us as a community. Even many traders are not more interested to crypto to crypto, rather they want a fiat crypto and crypto to fiat in which trade.io can offer that, this is a great movement
Yes, it's definitely great news. Thanks for stopping by!
Have being making use of the tradelo since some days now and it proof amazing but I can't wait for them to list naira into there exchange. Am looking forward for the day.
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That would be amazing. It would open even more doors to more people.
What a lovely article!! Thank you so much for your support!
Interesting!
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Yes it is! Thanks for stopping by.
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It seems very interesting.
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I think it is. Thanks for stopping by!
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