Why is CoinMetro Trusted?
Fraud is the plague of the fintech industry. There are certain signs and recommendations on how to spot and avoid it. Instead, we’d like to focus on why CoinMetro is a trusted and secure exchange platform. Is CoinMetro legit?
If you’ve been asking yourself the question, the answer is positive. Indeed, CoinMetro is safe to invest and trade crypto with.
This article will give you a clear overview of the ways that make us a legit exchange.
Why Regulation Defines Us
Regulation is crypto’s future. CoinMetro never stops emphasizing that regulation is good news for the industry.
The lucrative crypto market is still young… and rife with scam and fraud. How so? One of the main problems of the virtual currency sector is anonymity, which leads to many users feeling unpunished.
True, anonymity and decentralization are at the core of the crypto industry. However, saying yes to the unregulated approach is supporting illicit activity.
We believe that regulation will give cryptocurrencies an air of legitimacy. In turn, it will open many doors that for now remain closed.
What Makes Us Trusted and Safe?
How is CoinMetro legit?
CoinMetro has obtained two crucial licenses. The one from the Estonian Financial Intelligence Unit allows us to provide digital currency to fiat exchange services as well as digital currency wallet services.
Most recently, CoinMetro has also been granted an Electronic Money Institution license by the Bank of Lithuania.
To put licensing into more perspective, it’s worth noting that obtaining a license for a fintech company is a time-consuming and a resource-intensive process. It can take up months of detailed paperwork and auditing.
CoinMetro is a legit, regulated exchange. To explain, we follow regulations and are in line with the required regulations’ amendments.
Here at CoinMetro we apply very important verification practices to keep the funds of our customers from unclear or unwanted risk exposure. AML, CTF, KYC, and KYT. Do these abbreviations sound like an alien language?
Anti-Money Laundering (AML)
The practice of ensuring that no money is being laundered or washed through our products and services, or used to hide criminal origins and providence or to avoid taxation.
Counter-Terrorism Funding (CTF)
A set of regulations and procedures that will guarantee to make it nearly impossible to use assets from transactions to fund terrorism or other illegal activities.
A set of internal rules and procedures set up to make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship.
As a matter of fact, KYC is a widely applied practice. Feel free to learn more about it in our article Why is KYC Important? or Why is KYC Your Friend?
A set of internal rules and procedures set up to have a clear point of reference on where the transaction came from or where it is going.
Is CoinMetro legit?
CoinMetro is a fully regulated, licensed, and compliant crypto exchange platform that follows the law as closely as possible.
At the same time, our fees are lower and products, far more innovative as compared to the majority of crypto exchanges in the market.
Join the regulated crypto revolution today by signing up for your very own trading account – with peace of mind.