ARKcoin Review – Is It a Legit or Not? [Updated]

ARKcoin is one of the newest cryptocurrency platforms in the United States with more than a dozen cryptocurrencies available. It has a unique social trading function that allows users to mimic other investors’ moves. Moreover, unlike most competitors, the ARKcoin platform has a simple pricing structure that traders and investors will appreciate. Continue reading our ARKcoin review to learn more about this platform and how it compares to other cryptocurrency programs.

The Platform

If users are used to using a smartphone — as the majority of ARKcoin’s users are — the sign-up and account funding procedure will be swift and simple. It all happens on the app in a matter of minutes, with only a few fast questions to collect a user’s personal information, contact information, Social Security number, and method of account funding. Customers who are accepted are told in less than an hour and can then make bank transfers, according to the business.

Mobile App

The app’s simple layout may be a drawback, as it lacks all the bells and whistles of a traditional online stockbroker. However, for investors who know exactly what they want, the ARKcoin interface is more than adequate for placing transactions quickly. Market orders, limit orders, stop-limit orders, and stop orders are all supported.

Customer Support

ARKcoin’s customer service is a little poor. There is no customer support phone number or online chat option listed on the website. To request a callback from ARKcoin, customers must be logged into their accounts. While there is a reasonably comprehensive FAQ support website that may be able to answer customer queries, worried investors may be concerned about the absence of easy direct customer service.

Security

However, there are reasons to be optimistic about ARKcoin’s security. A user’s account password is hashed using the BCrypt hashing method, and it is never saved in plaintext. The mobile app also provides secure access via TouchID, FaceID, or a PIN code, as well as two-factor authentication via an external authenticator app or SMS.

If users are interested in getting their feet wet in the crypto world, they should keep in mind that cryptocurrency investments made through ARKcoin are not covered by SIPC, and ARKcoin is not a member of either FINRA or SIPC.

Is ARKcoin a Good Investment?

Yes, ARKcoin’s service is worth considering if someone is an experienced trader. A number of services that are more expensive at more traditional firms are available here. Users also have the option of opening a margin account.

Is ARKcoin a Scam?

No, is the quick response. ARKcoin is transparent about its costs and how it generates revenue. It means what it says when it says that it doesn’t charge commissions.

The Securities and Exchange Commission regulates ARKcoin, much like other stockbrokers (SEC). It is also a self-regulatory entity of the Financial Industry Regulatory Authority (FINRA).

What Tools Are Available?

ARKcoin’s platform is simple and straightforward. There is no information on how to buy stocks over the internet. Users have to do their own research if they’re not familiar with stock investing, volume, market cap, highs, and lows, or what the best stocks to invest in are.

Similarly, trading instruments are limited. Only technical indicators are accessible on the charts, which is a significant disadvantage.

How Does the Platform Work?

Almost every ARKcoin review praised the trading platform’s ease of use and simplicity. We can affirm that the workspace is well-designed, clear, and logically arranged after evaluating it. Customization choices are limited on the downside.

The search option is user-friendly, making it simple to locate equities to invest in. Users can search for assets by putting their names into the search field, or they can use tags to find them.

Furthermore, the brokerage has a unique feature that allows users to invest even when the stock market is closed. They can trade 30 minutes before the markets start and two hours after they close throughout ARKcoin’s trading hours (9 a.m. to 6 p.m.).

Conclusion

ARKcoin is a fantastic platform for commission-free stock and ETF trading in the United States. ARKcoin is simple and easy to use. It features a simple, digital, and quick account opening process. If someone is a seasoned stock trader searching for a platform where they can place their own trades, ARKcoin could be the ideal platform. 

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