eKrona Cryptocurrency Review 2021 – Is it Legit?
Sveriges Riksbank, Sweden’s central bank, is investigating whether it’s possible to roll out a digital alternative to traditional cash, a cryptocurrency called e-krona. But could eKrona give Bitcoin a run for its money? Read this eKrona cryptocurrency Review 2021 to find out.
In this eKrona cryptocurrency review 2021, we’ll cover everything you need to know about this new cryptocurrency, from how to buy e-Krona to the potential impacts of such a bold project.
eKrona Cryptocurrency Overview
What is eKrona Cryptocurrency?
As the use of physical banknotes and coins continues to decline in society, blockchain technology is coming on leaps and bounds, shining a new light on digital currencies and payment methods. Sweden officially backs a cryptocurrency, making it one of the first major economies to take up the uncertain and untrodden terrain of crypto assets.
As more households and businesses turn to digital currencies as a viable payment method, the Riksbank has the task to develop and roll out a safe payment system. This is where eKrona comes in. e-Krona would offer the public continued access to state funds, issued by the country’s central bank, but in the form of a cryptocurrency.
According to the Riskbank.se official website, “an e-Krona would act together with the existing payment system and one e-krona would be worth as much as a physical 1-krona coin or one krona in a private bank account.”
Explainer: Why is the Sveriges Riksbank developing a cryptocurrency?
The Riksbank launched the e-Krona initiative back in 2017 as a way of evaluating the demand and potential need for a digital currency – e-Krona. The project team has held discussions with various international agents to get their perspective on an e-Krona digital currency, as well as assess proposals for suitable blockchain technology, and review all the legal issues that need to be addressed to give the Swedish Central Bank a clear path to issuing an e-Krona.
Last year, the Sveriges Riksbank transitioned into a more practical stage of the e-krona pilot. With the help of the IT services and consulting firm Accenture, Riksbank started to build a technology platform for the new digital currency. The goal of the e-krona project is to test potential technical solutions to see which one would be best for the e-krona currency.
What will the e-krona project focus on during 2021?
Throughout the rest of 2021, the Riksbank will carry on:
- Evaluating the demand for and implications of an e-krona on Sweden’s economy
- Reviewing and trailing the technical solution for the e-krona
- Assessing what impact an e-krona would have on Swedish monetary policy and legislation
- Contrasting various technical solutions for a possible e-krona digital currency.
First and foremost, the ekrona.com website claims to be the only crypto exchange where you can buy e-krona. Once you’ve opened an account, you’ll be redirected to one of its affiliate brokers such as Daxiron. Upon further investigation, it appears that Daxiron is an unregulated trading platform so we advise that you proceed with caution if you have already decided to open an account and deposit funds with this broker. This is because unregulated brokers do not comply with standardized regulations set by top-tier financial authorities, and therefore do not offer client fund protections.
According to coinmarketcap.com, the current e krona price is $0.00009399 and it has a circulating supply of 5,512,840 KRN coins.
Minimum deposits and trading fees
The minimum deposit is €250, and the ekrona.com website clearly states that there are zero trading fees. The website also claims to be fully regulated and holds an official crypto license. According to the ekrona.com website, “For every 1 € you invest in September expect potential
profits of 4963 € within a few months!” This suggests that a 1 EUR investment could rise by 496,200% in a couple of months.
Is ekrona cryptocurrency legit or a scam?
The ekrona cryptocurrency project is legitimate and was launched by the Riksbank in 2017. You can find clear information about the new cryptocurrency pilot on the Riksbank.se official website.
However, when it comes to online cryptocurrency exchanges like ekrona.com, it’s important to do thorough research given the volatility and vulnerabilities of the crypto realm.
Everything You Need To Know About ekrona cryptocurrency
The eKrona cryptocurrency exchange comes with a range of trading tools and features. With that said, in this section of our ekrona cryptocurrency review we’ll be diving into some of the key metrics of the crypto exchange.
The eKrona crypto exchange is built primarily for the ekrona coin. You can buy, sell, and swap ekrona coin using the intuitive crypto exchange. This means that if you’re looking to buy Bitcoin and other popular altcoins, you’ll need to look elsewhere.
The company does not charge any fees for trading activities as its main objective is to promote the global adoption of e-krona. This means that there are no commissions, account fees, or inactivity fees to worry about.
Our eKrona cryptocurrency review found that ekrona.com processes all withdrawals within 24 business hours, as opposed to a couple of days as is the case with other crypto exchanges.
According to the website, “any brokers that you may get connected to using our website (ekrona.com) are audited and checked to hold a valid license, allowing them to distribute eKrona. During our research, we were redirected to the online broker Daxiron, which upon further inspection is not regulated by a financial authority and has rather mixed reviews on Trustpilot.
When it comes to contacting customer services this will depend on the affiliate broker that you’re using. In the case of Daxiron, you can reach customer support via telephone or email.
How To Get Started With the EKrona Cryptocurrency Exchange
Are you interested in eKrona cryptocurrency trading? The onboarding process is fully digital and can be done in four simple steps:
Step 1: Open an eKrona Account
To open an account simply head over to the ekrona.com website and click on the button marked ‘Sign Up’ at the top right corner of the screen.
You’ll need to fill in the form with your details including your full name, email address, and mobile phone number. Once you’ve entered your credentials tap on the ‘open account’ button.
Step 2: Make a Deposit
By filling in the online registration form you’ll be redirected to one of the partner brokers such as Daxiron. From there you will need to fund your trading account with a minimum deposit of 250 EUR. According to our ekrona cryptocurrency review, you can use bank wire transfers, e-wallets and credit/debit cards to make a deposit.
Step 3: Demo Trading
Now that you have opened an account with the ekrona crypto exchange, you can practice with the demo account.
Demo trading, otherwise known as paper trading, is ideal for beginner investors and advanced traders as you can test the waters without the added risks of losing your hard-earned money.
Step 4: Live Trading
When you feel confident enough you can easily switch between the demo and live trading accounts with the click of a button. The Daxiron dashboard offers fully customizable charts, as well as the option to palace Stop-Loss and Take-Profit orders seamlessly. You can also access fundamental data by clicking on the information tab at the top of the trading chart, and incorporate a wide range of technical indicators to help build charts that suit your trading strategies and time horizons.
Why Choose the ekrona cryptocurrency exchange?
The answer to this question lies with the fact that the ekrona coin has yet to be rolled out publicly. This has attracted the attention of crypto enthusiasts and traders looking to capitalize on the best upcoming cryptos in 2021.
According to the ekrona.com website, it aims to serve clients on a global scale with a secure and regulated method of buying and selling ekrona crypto.
In this section of our ekrona cryptocurrency review let’s examine some of the key features that could make this crypto exchange worth your consideration.
ekrona cryptocurrency has high targets for 2021
By the end of this fiscal year, ekrona cryptocurrency aims to have achieved the following:
- Execute 65% of all transactions
- 200 million investors worldwide
- E krona price to reach $5,000
These high aspirations suggest that ekrona cryptocurrency wants to overtake Bitcoin. But this may be easier said than done as Bitcoin currently has a market cap of $813 billion and dominates 42.3% of the market.
Another key metric that all experienced traders and beginners look for is low trading and non-trading fees. During our ekrona cryptocurrency review, we found that the ekrona.com website claims to facilitate commission-free trading, albeit that you can only trade ekrone crypto.
Low minimum deposit
You can deposit a minimum amount of 250 EUR using a range of payment methods including the popular Visa and Mastercard debit/credit cards.
State of the art trading software
Once you open a trading account you’ll have unfettered access to all the trading tools and features. These include customizable charts and investment advisors to help you maximize your potential returns.
Ekrona cryptocurrency claims to work with all major financial institutions. This is ideal for traders who want to transfer their funds directly into their bank accounts quickly.
Bold assertions – ekrona.com claims high success rates
The company claims that for every one euro you invest you could make potential profits of over 4,000 EUR within several months.
eKrona Pros and Cons
What Countries is eKrona Crypto Available in?
You can access the ekrona crypto exchange internationally. This means that clients from the UK, US, Australia, Canada, European Union, and Sweden can all buy, sell, and swap ekrona crypto on the cryptocurrency exchange.
How Much Money Can I Make With ekrona Crypto?
Your return on investment depends on a whole range of factors. This includes market trends and investor sentiment to the amount you invest and the type of trading strategy you adopt. So, putting a finger on the exact amount you could make with ekrona crypto is like trying to find a needle in a haystack. Near impossible.
With that said, the developers at ekrona.com suggest that “for every €1 you invest in September expect potential profits of €4,247 within a few months!” This is a bold statement and should only be taken at face value because these claims are not backed by any concrete evidence or strategies, making them unreliable.
Alternatively, you could use the demo trading account to gauge how much money you could make with ekrona crypto. This way you can practice your trading strategies in a risk-free environment to experiment and see what sort of returns you generate before you buy ekrona cryptocurrency.
Why Should I Use A Crypto Exchange?
A decentralized exchange or DEX never takes custody of your funds. While the underlying fundamentals of a DEX can vary, typically speaking there is always an order matching protocol. This means that funds are sent between independent crypto wallets that use smart contracts to execute transactions autonomously.
When compared to centralized exchanges, DEXs are better in terms of security as there have been multiple occasions during the last decade in which thousands of Bitcoins have been stolen out of operational hot wallets.
Greater control over your assets and funds
The non-custodial makeup of a DEX means that your funds are under your custody and no centralized authorities can interfere with your account. Should a decentralized exchange go into insolvency tomorrow, your funds will be safe in your cold wallet.
Greater anonymity and privacy
This seems to be a double-edged sword, with hackers and money launderers seeking out DEXs that provide 100% anonymity. On the other hand, for some crypto traders having no registration requirements and verification processes to worry about is a huge advantage. All you need is your private crypto wallet address and you’re ready to gain exposure to the volatile cryptocurrency market.
Is ekrona cryptocurrency right for me?
While Sweden officially backs a cryptocurrency dubbed the e-krona pilot, this is still very much in the research and development stage of its evolution. Furthermore, ekrona crypto is a new digital asset and it’s mainly speculative at this point.
There have also been reports of e-krona fraudsters and fake news circulating claiming that the Riksbank is selling e-kronas. As such, you should take due diligence when investing in new cryptocurrencies, especially from unregulated brokers and decentralized crypto exchanges.
On the other hand, if you have a strong risk tolerance and want to invest in an upcoming crypto it could be worth considering ekrona cryptocurrency.
Testimonials: What do users on Reddit have to say about eKrona?
According to the Reddit group r/CryptoCurrency, the consensus amongst users is that ekrona.com is a scam. They even point out that Riksbank has issued a warning for e-krona fraudsters which states that ‘it has not yet been decided yet whether the Riksbank will issue an e-krona and it is not possible to buy them.’
e-krona Cryptocurrency Review: Expert Verdict
While the ekrona crypto exchange claims to offer 0.00% fees and a user-friendly interface with high success rates, it’s still too early to tell whether e-krona could give Bitcoin a run for its money. The crypto market is extremely volatile and price movements can fluctuate dramatically within 24 hours.
All in all, if you want to check out the ekrona crypto exchange follow the link below and give the demo account a try before moving on to real live investments.
Where can I buy e-krona?
What is e-krona?
Is ekrona legit?
How much is one krona worth?
What is the current market price of e-krona?