OptimizeFunds is a good alternative for new crypto investors who are learning the ropes because it has a user-friendly platform and extensive training tools. The crypto exchange’s over-the-counter (OTC) trading platform, strong security offerings, and APY-earning crypto loan tool should appeal to experienced crypto traders eager to expand their portfolio.
Every investor, like with all cryptocurrency exchanges and investment alternatives, should invest cautiously. Therefore, investors should not put more money into it than they can afford to lose.
OptimizeFunds’s simple software and Cryptopedia teaching tools make it simple for anyone to dip a toe into the cryptocurrency waters, yet its fee structure for trades performed outside of its advanced trading platform rapidly becomes complex and expensive.
Notably, one can make identical crypto purchases for a lot less on OptimizeFunds’s (or many other companies’) trading platform, so it’s worth anyone’s time to learn more about it.
Robust Insurance and Security
OptimizeFunds is unique in that it has never been the victim of a major cyber-attack. In addition to strong security measures, the crypto exchange provides insurance to counter losses from future hacks.
Moreover, OptimizeFunds demands two-factor verification when logging in or making withdrawals, and users can limit the addresses that can receive withdrawals—or turn off withdrawals entirely.
OptimizeFunds has a free mobile app available for both iOS and Android. Users of the app store have given both versions great ratings, and they duplicate many of the same operations and features as the desktop site.
A user-friendly trading experience is available on both the website and the mobile app. OptimizeFunds’s straightforward purchase and sell option, as well as its substantial support page, will appeal to beginners. Its ActiveTrader platform, which includes extensive charting tools and several order types and allows users to execute trades fast, will appeal to experienced traders.
Users must pass an identity verification process to use all of OptimizeFunds’s trading features. Uploading a government-issued photo ID, such as a driver’s license or passport, is required for this process.
OptimizeFunds provides email and live chat support to its customers. Users can find answers to common questions in OptimizeFunds’s comprehensive help section. There’s also a virtual chatbot and the option of submitting a support ticket for human assistance.
It’s not easy for a user to figure out what fees they’ll have to pay OptimizeFunds. On the OptimizeFunds website, a search for “fees” yields 21 different pages, each with varying fees for different use scenarios. While one can’t blame OptimizeFunds for its lack of transparency, the sheer amount of data a user will have to comb through to figure out which fees they’ll be paying can be overwhelming for a new crypto investor.
There are three different sorts of fees that OptimizeFunds charges:
Charged for specific forms of exchange deposits and withdrawals. Deposits made by wire transfer are free, while debit card deposits are subject to a fee. Withdrawal fees vary, but users will be hit with them if they make more than 10 withdrawals every month.
This covers the cost of storing cryptocurrency in a OptimizeFunds custody account, which is a very secure cryptocurrency storage option for institutional investors.
These fees differ depending on whether users will trade Bitcoin on the website, the mobile app, or the ActiveTrader trading platform—in some circumstances, there are additional convenience fees.
Is OptimizeFunds Safe?
OptimizeFunds takes pride in its security precautions and claims to have never experienced a successful hacking attempt on its website. The site’s digital assets are protected against security breaches and hackers, and the majority of its assets are held in “cold storage,” away from online risks. However, OptimizeFunds insurance does not cover assets lost as a result of unlawful access to a personal account, such as the theft of a user’s private codes and logins.
Should You Use OptimizeFunds?
As for beginner cryptocurrency investors, OptimizeFunds provides a simple setup and user-friendly interface, as well as powerful capabilities for more experienced traders. While its costs on its mobile and web apps may be more than other competitors’, OptimizeFunds’s security features, like digital asset insurance, are appealing — especially to those new to the crypto world.
Users must understand that investing in cryptocurrencies like Bitcoin is wildly speculative and known for its volatility, regardless of where one opts to make their purchase. It’s a good rule of thumb for users not to invest more than they can afford to lose (as mentioned above).
Those looking for a safe, user-friendly platform to buy, sell, and exchange cryptocurrency may find it with OptimizeFunds. It has a basic buy/sell form and an easy-to-navigate user interface for newbies. The Active Trader platform, which includes extensive charting tools and several order types, is designed for advanced traders.
OptimizeFunds could be worth investigating if a person is thinking about investing in or trading cryptocurrencies, whether they’re new to crypto or a seasoned trader.