Crypto Boom Review: Is It a Scam? Online Broker

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The following is a brief introduction to the topic:

The financial industry has been swept up by the concept of cryptocurrency trading, which is relatively new. More and more online brokerages are now offering cryptocurrency trading due to the growing popularity of digital currency. Crypto Boom is one of the online brokers who have become popular in recent years. This article is a review of Crypto Boom. It will cover its features, legality, trading strategies and fees, as well as security measures.

What is Crypto Boom?

Crypto Boom is a cryptocurrency trading platform online that gives traders access to many digital currencies. Launched in 2017, the platform has gained a reputation as being reliable and user-friendly. Crypto Boom’s trading platform allows traders to purchase and sell cryptocurrency.

Crypto Boom: Features

Crypto Boom has a number of features which make it different from other online brokers. These features include:

• Platform that is user-friendly: Crypto Boom’s trading platform can be used by beginners.
• Crypto Boom provides a variety of digital currencies including Bitcoin, Ethereum Ripple and Litecoin.
• Demo account: Crypto Boom provides a demo account for traders to practice trading strategies without risking real money.
• Crypto Boom offers some of the lowest fees within the industry.

Trading Platform

The trading platform of Crypto Boom is easy to use and navigate. The platform can be accessed through a web browser and no software is required. Traders can view live prices, charts and news on the platform.

Account Types

Crypto Boom provides three different types of trading account: Basic, VIP, and Gold. The Basic account is designed for new traders, while Gold and VIP are better suited for experienced traders. The VIP account has the most benefits. It offers higher leverage, as well as access to a personal manager.

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Is Crypto boom a scam?

Online brokers are a major concern for traders. Financial scams are common, so it is important to research the industry before investing. Here are some ways to spot a scam.

• Lack of regulation. Legitimate online broker are regulated in their countries by the financial authorities.
• Online reviews can be a good way to find out what other traders think about the broker.
• Brokers who promise high returns without risk are likely to be scammers.

Research on Crypto Boom’s Legitimacy

Crypto Boom is a regulated online broker by the International Financial Market Relations Regulation Center. The broker is well-respected and has been given positive feedback by traders.

Customer Reviews

Crypto Boom has received positive reviews online. Traders praise the platform for its user-friendliness, and also for its low fees. Some traders have complained that the customer support options are limited.

Compare with other online brokers

Crypto Boom has some of the lowest commissions in the online broker industry. The platform is known for its ease of use and wide selection of digital currencies.

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Crypto Boom: How to Use it

Crypto Boom makes it easy to use. This is a step by step guide:

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Click on the “Register button” to sign up with Crypto Boom. You will be asked to enter some personal details, including your name, phone number, email address and other contact information.

Verification Process

You will be asked to verify your account after signing up by providing additional information such as a copy of your ID or proof of your address.

Depositing Funds

Crypto Boom accepts a variety of payment methods for depositing funds to your account.

Place trades

You can place a trade by selecting the digital currency that you wish to trade. Enter the amount of money you would like to invest and then choose to either buy or sell.

Withdrawing Funds

Select “Withdrawal”, on the trading platform, and select your preferred withdrawal method.

Trading Strategies

Trading strategies are a crucial part of cryptocurrency trading. Here are some of most common trading strategies.

Risk management is important

Trading cryptocurrencies requires a good understanding of risk management. The trader should not invest more money than they are willing to lose. They should also always have a Stop-Loss set up.

Technical Analysis

Technical analysis is the study of charts and data on the market to predict future price changes.

Fundamental Analysis

Fundamental analysis is the process of analyzing the factors that influence the price of digital currencies, such as economic and news data.

Crypto Boom Fees

Crypto Boom charges some of the lowest rates in the industry. The broker charges 0.1% commission on every trade, and there are no fees for deposits or withdrawals.

Compare with other online brokers

Crypto Boom charges significantly less than other online brokers. Some brokers charge up to 5% commission on every trade.

How to reduce fees

If you want to minimize fees, traders can either choose a VIP account that offers lower fees or trade more.

Security Measures

Crypto Boom places security as a priority. Here are some security measures that the broker has put in place:

Two-factor authentication

Crypto Boom’s two-factor authentication ensures that only authorized users can access their accounts.

SSL encryption

SSL encryption is used to encrypt all data sent between Crypto Boom servers and the users’ devices.

Insurance

Crypto Boom offers insurance to cover traders’ funds if there is a breach of security.

Crypto boom: Pros and Cons

Crypto Boom has many advantages:

• Platform that is easy to use
• A wide range of cryptocurrency
• Demo account available
• Low Fees

Cons of Crypto-Boom

Crypto Boom has some cons:

• Limited customer support
• No mobile app
• Payment Options

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The conclusion of the article is:

Crypto Boom is an online broker with a number of features, and the lowest commissions in the business. The platform is easy to use and provides a variety of digital currencies. The platform is user-friendly, but traders should be aware that there are limited options for customer support and no mobile app.

FAQs

Crypto Boom is regulated or not?

Crypto Boom is regulated under the International Financial Market Relations Regulation Center.

What crypto currencies can I trade with Crypto Boom?

Crypto Boom provides a variety of digital currencies including Bitcoin, Ethereum Ripple and Litecoin.

How long will it take for me to be able to withdraw my funds from Crypto Boom?

The withdrawal time depends on the method of payment. While bank transfers can take as long as five business days, e-wallets usually process within 24 hours.

Can I get a Crypto Boom demo account?

Yes, Crypto Boom provides a demo account which allows traders to test their trading strategies before risking real money.

What are the payment methods accepted by Crypto Boom?

Crypto Boom accepts many payment methods including credit/debit card, bank transfer, and electronic wallets.

What are the customer service options available at Crypto Boom?

Crypto Boom provides customer support by email and live chat. Customer support is available only during business hours.

Can I use Crypto Boom on my mobile device?

Crypto Boom currently does not offer a mobile application.

Is there any hidden fee charged by Crypto Boom?

Crypto Boom doesn’t charge hidden fees.

My personal information is secure on CryptoBoom?

Crypto Boom does use SSL encryption for the protection of users’ financial and personal information.

How can I contact Crypto Boom Customer Support?

Contact Crypto Boom Customer Support via email or Live Chat during business hours.