Kyber Network Review
The broker Kyber Network is an ambitious and versatile project that ensures hassle-free conversion of a variety of ERC20 tokens. It is a decentralised exchange build on an Ethereum network. It is also can be easily integrated into cross-platform trading and payments. However, the broker does not show trading fees and transaction fees on it’s the official website. In this Kyber Network review, we will shed light on the possible advantages and disadvantages of this unique service provider. Stay with us to be informed.
About Kyber Network:
The broker Kyber Network does not hold its traders’ funds to itself not tracks any transactions. It offers minimum risk from any cyber-attack. Traders can directly access the provided platform and perform transactions via their own wallets. The trading at Kyber Network is a hassle-free affair. The broker provides exchange rates from many market APIs. Traders trade request is placed and the broker shows the best conversion rates. Then a smart contract is executed and the automatic transaction is done. The trader receives the token to its own wallet. More than 20 different types of ERC20 tokens are there in the offerings of Kyber Network. The cost of trading is very low at Kyber Network. It charges only 0.0005% per trade. At Kyber Network no registration is required. It works on all of the Wallet Enabled Browsers. The white paper of Kyber Network provides information about the company’s corporate status. Loi Luu and Yaron Velner are the founders of Kyber Network and its adviser is Vitalik Buterin a creator of Ethereum cryptocurrency.
The broker does not support fiat currencies like USD, EUR, GBP, and others. It means traders must convert their fiat money into supported cryptocurrencies before start trading with Kyber Network. As mentioned above the only ERC20 tokens can be traded against Ethereum. The services of Kyber Network are so advanced that no beginner trader can avail them at the first place. The broker does not provide a real trading account instead broker provides exchange rates derived from the third party. There leverage is not available at this broker. The overall offerings are dependent on the Ethereum-based network.
Is Kyber Network scam or legit?
The broker does not hide its corporate status and it is a legit broker. However, crypto trading does not fall under any regulator and this avenue is risky. The leverages are not provided and only Ethereum based cryptos are traded. Kyber Network may or may not be a scam cryptocurrency broker. However, being wise while crypto trading is advised.