Every so often a new crypto exchange enters the fray. With new and more trading options, and a bundle of new features to simplify the lives of its users. This gives the user a lot more versatility when trading the crypto market, but for new users, an abundance of advanced features might have
the adverse effect of intimidating them.
Today we would like to focus on the Bitcoin.com Exchange, an alternate platform that we value as one of the best options for newcomers. Its high accessibility, simplicity, and set of highly considerate features make it the perfect place to start for every new trader.
What sets the Bitcoin.com Exchange apart from the others, is not only a certain group of key features but a wide variety of BCH-pairs as well as integrated support for Simple-Ledger-Protocol tokens (SLP). The Simple-Ledger-Protocol is a token protocol running on the Bitcoin Cash
Blockchain enabling fast and cheap transactions. The Bitcoin.com
Exchange is the first bigger platform to support SLP tokens.
Another key characteristic of the platform is the ability to customize your layout to personalize your trading set up. In the Reports Tab, you can find and compare your trading stats to always be on top of your progress and, or with the system monitor the exchange provides a sense of transparency and control to the user.
All of this on its own is not something groundbreaking. But having them in one platform that excels in UX is something noteworthy.
High layout customization
It provides users the ability to resize and reposition the different components giving the user a sense of ownership. As traders make the space their own, they feel more compelled to come back to it later on.
By making the system monitor accessible to everyone, the developers
behind the exchange show their alignment with the values of openness
This section of the platform provides the user with frequently updated information about performance and availability, including live statistics of incoming/outgoing transactions.
Deposits: Check on the number of users’ deposits in the queue and the pay-in status before you make one.
Online/Offline for Transfers displays whether the funds can be transferred between Main and Trading accounts.
Online/Offline for Trading indicates availability of making orders in the system.
Withdrawals: Helps to track the pay-out online/offline status, number of withdrawals in the mempool, number of withdrawals in the system, when the last pay-out was done and average time required to process 100 transactions for each of the currencies.
Maintenance status indicates when any maintenance operation is being performed.
Now, this is the place where you can easily track all your trades: how much profit you made, what you are holding, and your trading volume. You can even see each of these fields in detail per trading pair, and by dates. You can analyze your PnL daily or overall if you wish to do so.
This is not only a really powerful tool for people that are trying to learn, but also for seasoned traders. As you can see where your weak points in your trading style may be, analyzing the specific trades that made you huge profits or put a dent in your portfolio.
As we’ve analyzed, the Bitcoin.com Exchange brings forth some key features that make traders life such as customizable UI and the “reports tab”, It’s a marketplace that is just starting as it’s only been operational since September 2019. Only to get better from here.
This is the platform where new traders should start, as the UI is as user-friendly as it gets.