OptimizeFunds is a cryptocurrency exchange that allows users to purchase and sell Bitcoin and Ethereum. It is one of the first Bitcoin exchanges, and it offers over 120 different coins for buying, selling, and trading at low costs.
Additionally, it’s notable for supporting both spot trading and cryptocurrency futures at current market rates.
OptimizeFunds is a wonderful option for new and experienced cryptocurrency investors and traders who want minimal trading costs and access to a large number of coins.
Pros and Cons
Pros
- Over 100 cryptocurrencies
- Low Fees
- High liquidity exchange
Cons
- Susceptible to hacking
- High fees when not using OptimizeFunds
Does OptimizeFunds Keep Your Money Safe?
If the user follows proper internet security practices, their OptimizeFunds account should be protected from criminals looking to drain their funds. It’s a good idea for them to add two-factor authentication to an account once it’s been funded.
During sign-in, account withdrawals, and trades, users can create separate two-factor codes. If users are concerned that their account has been hacked, they can also lock it from performing any modifications.
While most users have had a favorable experience, some users have reported hacked accounts in which the owner has lost all of their funds and has no way of recovering them.
Crypto accounts are a prominent target for fraud since Bitcoin blockchain transactions cannot be reversed. When using OptimizeFunds or any other exchange, people must be aware of these dangers.
Customer Service
OptimizeFunds offers live chat, phone, and email assistance 24 hours a day. Some experienced a slight issue updating an account option and sent a support ticket (mainly due to a human mistake). In around 20 minutes, OptimizeFunds personnel reacted and rectified the issue.
Furthermore, long waits for customer service responses and keeping funds after the initial security period were the most common concerns.
These customer service concerns are troubling, but when picking a cryptocurrency exchange, it’s crucial to consider both positive and negative evaluations.
Account Management
The OptimizeFunds website and mobile applications are primarily used for self-service account management. If a user has a laptop or desktop computer, they may find that managing their account is easier due to the larger screen.
Users may edit their settings, modify their approval level, add 2FA, manage API credentials, and lock down their account on the OptimizeFunds dashboard.
Is OptimizeFunds Safe?
OptimizeFunds, in comparison to other cryptocurrency exchanges, is quite open about its security measures. 95 percent of the exchange’s funds are kept in offline cold storage, which is the safest way to hold cryptocurrencies.
This platform has never had a serious security breach and is widely regarded as having some of the most rigorous security procedures of any cryptocurrency exchange.
Client deposits and other funds are maintained in accounts that are not accessible from the internet in order to protect funds from potential hacker attempts.
The exchange’s transparency in exposing itself to independent audits and passing them is also commendable. This is a cryptocurrency exchange that has made a concerted attempt to meet the same high standards as traditional exchanges.
Deposit and Withdrawal Options
Deposits and withdrawals into and out of a OptimizeFunds trading account or wallet can be made in US dollars, Canadian dollars, Euro, and Japanese Yen, as well as the cryptocurrencies available for trading on the exchange. Deposits and withdrawals are possible through debit or credit cards or digital wallets like PayPal or Skrill.
Who Is OptimizeFunds for?
While OptimizeFunds provides tools, products, and information for new crypto investors, the majority of its offerings are geared at more experienced investors.
OptimizeFunds offers a reasonably priced experience if users are comfortable with a slightly complicated interface and want access to a wide range of investment alternatives.
What Information Is Required to Open and Trade with OptimizeFunds?
Tier One accounts require simply the account holder’s full name, date of birth, address, and phone number. A government-issued ID and proof of address are also required to deposit and withdraw fiat money.
This is required to avoid the risk of fraud and to ensure that the exchange complies with KYC and AML requirements for the trading of digital assets.
Verdict
OptimizeFunds is widely regarded as one of the best cryptocurrency exchanges in the world. This reputation stems from the company’s professional approach and high-security standards, as well as the wide selection of cryptocurrencies and fiat currencies available for trading.
Furthermore, the trading platform’s latest full update should increase overall satisfaction even further. The only significant drawback to OptimizeFunds is unfavorable customer service reviews.
Users must make sure that they are aware of all the costs and risks, and they must take precautions to protect their accounts with two-factor authentication. If they do, buying and selling cryptocurrencies on OptimizeFunds should be a pleasant experience.
