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Site Score

5.6

Good: Fast, and Secure, Exchange Bitcoins

Bad: Doesn't Accept Cash, No Bitcoin Debit Card

User Score

7.0

(1 votes)

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Rating: 7.0/10 (1 vote cast)

Bitcoin mining popularity has been gradually increasing with the introduction of many companies that now fancy this investment. Nonetheless, there exist several factors that should be considered when choosing a Bitcoin company mainly due to the uncertainties associated with the digital currency. Among them is the fluid nature of currency status and buying power, security, customer service, hardware costs among others. Cryptsy is one of the companies that have now introduced a new focus into the Bitcoin world.

What is Cryptsy?

Since its inception in 2013, Cryptsy has grown to become the largest platform for trading cryptocoin. It introduced a Bitcoin mining plan that allows customers to trade internet mining GHS among each other in the online market. It offers a lifetime mining contract (MN1) for Bitcoin mining to traders (clients and customers) who are allowed to sell it at will. This Bitcoin mining company is structured towards offering traders a variety of services to enable them gain benefits in the torrid market.

Cryptsy features and benefits

Besides being the largest recognized institution in this sector, Cryptsy has many features and services that distinguish it from other providers. They may be considered a more expensive option when compared with other companies, but their services are also superior. It maintains ultimate adherence towards statutory financial regulations and also plans on incorporating fiat currencies. Besides, Cryptsy enjoys an excellent relationship and reputation with the Bitcoin community. Their features include the following;

Customer service

Cryptsy is a very professional establishment and this is manifested across the entire system and workforce, including their technical support and records. They provide fast responses to tickets which are usually answered not later than 24 hours unless it is a special situation. They are strict to the defined policies which all clients are subjected to clearly understand before involvement.

Processing of payouts

The payouts for Bitcoin mining are added to clients account balances once in a day and requests for withdrawal receive prompt processing. This speedy processing ensures clients are flexible within the unpredictable market where currency values can experience significant fluctuations. Since Cryptsy usually deals with large money transactions, there are various security measures taken to ensure safe Bitcoin withdrawals to personal accounts.

Safety and security

This is Cryptsy’s greatest advantage. Secure transaction is the epicenter of any Bitcoin venture since processed requests are irrevocable. Cryptsy utilized a 2FA security technology in approving all activated withdrawal requests. The security encryption is very strong and has never been hacked with users encouraged to change their passwords regularly. This should however be done after the days withdrawals have been completed since automatic 24 hour holds are placed on changed passwords. This is used as an additional security measure to protect clients and customers.

USD markets

Cryptsy is has already started adding US dollar markets within their system which is a very tremendous achievement. With the heavy regulations associated with the government regulated currency, incorporating it with crypto currencies, which are fully deregulated is ambitious. However, this is a possibility witnessed in this company and is set to elicit positive improvements in terms of security as well as acceptance. This option is however only available for verified accounts.

MN1 lifetime shares

Many negative critics surround the lifetime contract leasing that Cryptsy is currently issuing. This is based on many assumptions that will remain to be proven and the most important thing right now is the opportunity presented. Bitcoin world is often reliant on momentous opportunities to fetch profit and future prospects of 1Gh value do not seem an apparent concern. There is a hot market, which is ready to be exploited and shares can be sold at any given time.

Conclusion

It is no doubt that Cryptsy is indeed expensive as compared to other mining avenues. However, the level of security and strategic focus of the company provides assurance over future benefits. The inclusion of fiat currencies also opens up many opportunities and crypto currency may become the next global phenomenon. This company also offers efficient customer support to ensure coin transfers, tickets and withdrawals are timely processed. The lifetime contract ownership allows traders to buy or sell whenever they wish without any restriction. In an overall rating, Cryptsy is benevolent to professional miners who deal with large money investments in trading rather than reward benefits. It offers opportunity to make grand profits from trading the currencies, although Bitcoin benefits can also be fetched.