TryTrade Review: A Reliable Crypto Exchange for Any Trader

TryTrade is a user-friendly platform for beginner traders. Also, it offers plenty of crypto trading options. Read more to know about this broker!

Cryptocurrencies have become popular over the last 10 years. Since more countries are adopting them as an alternative monetary system, traders have begun joining crypto exchanges. Although there are many trading platforms, some people need help deciding which to join since they offer similar services, for instance, providing real-time data.

Others do not know what to look for when joining a crypto exchange. To help such people to decide, we will focus on this platform; TryTrade.

This crypto exchange stands out from the rest due to its educational tools. TryTrade has short notes and videos introducing users to crypto and its platform. The information is meant to help traders study cryptocurrency trends before investing.

There is still a lot to talk about TryTrade. This review will help traders understand the platform and why it could be one of the best ones for trading.

What Does TryTrade Offer Its Users?

The platform allows traders to trade with more than 250 cryptocurrencies. Besides crypto, people can trade other cryptocurrency products such as NFTs, utility tokens, and security tokens.

Another thing beginner traders will enjoy about TryTrade is its ease of use on the website and mobile app. Its layout allows traders to spot any feature in no time easily.

Is TryTrade Right for Me?

Some traders, especially beginners, want a place to only buy and sell cryptocurrencies. That means they are not worried about other activities like decentralized exchanges. If that is the case, this platform may be right for them.

People who need a tax reporting service can consider this platform. It generates income reports, capital gain/loss reports, and various IRS forms. Users who want to file their TryTrade taxes can do that via Koinly.

What Are the Pros of TryTrade?

This is one of the best platforms for traders at any skill level. Besides allowing people to trade with multiple cryptocurrencies, it has several trading options, such as spot trading, margin trading, and peer-to-peer trading.

Overall, this platform keeps trading accounts safe through the two-step verification method. This security measure happens after the user tries to log in with an unfamiliar number or from a different location. In that case, TryTrade will ask the trader to verify their account with a verification code that the platform will send via email or text.

Another advantage of the platform is how fast traders can withdraw crypto exchanges. This usually works for people who do transactions via fiat currency. Instead of waiting for several days, users can complete a transaction within a day. This is a benefit, especially to traders who want to use crypto in decentralized apps or other external services.

What Are the Cons of TryTrade?

The broker site is still unavailable in some countries due to licensing issues. Traders from such places can only hope that they will get these issues resolved.

This platform only accepts a few fiat currencies. Traders who want to know which currencies it accepts can visit its website.

Another disadvantage is the platform’s withdrawal limits. Traders cannot withdraw funds until they have at least $100 in their account. The amount may be challenging for some traders to get.

What Fees Will Traders Incur in TryTrade?

The platform does not charge any entry fees. Instead, users pay more fees when they do transactions that involve maker fees and taker fees. Additionally, there is an extra percentage cost for credit card purchases.

How Do You Create an Account With TryTrade?

The steps for joining this platform are quite easy. Before joining this platform, people must be at least 18 years old and have a government-issued ID. Once traders have these requirements, they can join through the website or mobile app.

There will be a section titled “Get Started,” where users must submit their names, email addresses, passwords, and residential areas. After submitting the details, users will have to agree to TryTrade’s terms and conditions by ticking the box. It takes about two minutes for the account to get created.

Conclusion

In short, TryTrade is a user-friendly platform for beginner traders. Also, it offers plenty of crypto trading options, which means traders do not need to make trades with a popular cryptocurrency if they don’t want to.

We hope this review has helped you determine if this trading platform is the right one for you.

(Disclaimer: This is sponsored marketing content. Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)