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Sahara Coins is a new cryptocurrency that gives its users different features. Some of these features are the ability for traders to trade simple and complex arbitrage opportunities; it also offers discounted trading fees and allows its traders to trade in all major markets.
It provides its users with a highly secure, offers excellent customer service, and includes six different cryptocurrencies that people can trade on its platform. It has been around since early 2015, and it's still going strong, showing that they're a reputable and trustworthy company.
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Pros & Cons of Sahara Coins
PROS
➕ Highly Secure
Sahara Coins is very secure since they employ a multi-layered security system. The first layer being using military-grade encryption that is not easily crackable. They also use banking-grade encryption during the verification process.
The second layer of security is through their private key management that employs a combination of cold wallets and hot wallets on all their servers to ensure the safety of their users' assets and funds. Their multi-layer system also prevents them from being hacked and stolen by other companies, hackers, and thieves.
➕ Decentralized
Sahara Coins is decentralized, meaning the trading platform is run by its users, not by a central authority, government, or organization. It allows its traders to access its trading platform anywhere around the world, thus making it very easy for those who travel worldwide to access it while they're away for business or pleasure.
➕ Liquidity
Sahara Coins is highly liquid since it can easily trade in all significant markets; this allows them to access the arbitrage opportunities available at any time. Through their liquidity, they're also able to make trades fast, thus allowing their users the chance to make a profit more and faster when compared to less liquid traders.
➕ Discounted Trading Fees
Sahara Coins allows its users to trade at a discounted fee compared to other companies with the same features and operations. Their discounted trading fees are also often advertised on their website and social media, which allows their users to take advantage of their discount trading fees. It also helps attract new users and traders who want to trade with them to get a discount trading fee. Thus helping them grow even more in terms of their assets, user base, traders, and technology.
➕ Simple and Complex Arbitrage Opportunities
Sahara Coins allows its traders to trade both complex and straightforward arbitrage opportunities, allowing them to take advantage of the opportunities that are given while they're trading. It helps their traders to be able to get a great profit out of the trade, and it also helps them gain more experience in the field of arbitraging.
➕ No Deposit Fees
Sahara Coins does not have any deposit fees for the first and second deposits, which allows its traders to start trading with their assets and funds as soon as possible. It also helps attract new traders since they can start with a broader array of coins, thus allowing them to profit more. It is mainly because of the low deposit fees, and it saves the trader's time, which can be more profitably spent trading on the platform.
➕ Multi-platform Functionality
Sahara Coins offers its users multi-platform functionality that allows them to trade on their website and through the android and IOS mobile applications. It allows them to have more flexibility in trading and to make trades with other traders who are on the go or have their hands busy at a particular time while trading with Sahara Coins.
➕ Cheap and Fast Transactions
Sahara Coins has low trading fees, which allows them a cheap transfer fee compared to other companies with the same features and operations. It saves its users from the more considerable transaction fees they could face if they were using a company such as Bittrex due to the longer time it takes for trades to complete and less liquidity. Their trade fee can be as low as 0.01%, with a lower trading volume when compared to other companies.
➕ Lots of Coins and Assets to Trade With
Sahara Coins offers six different cryptocurrencies that people can trade on its platform: Bitcoin, Litecoin, USD Coin, BitShares, Dogecoin, and GAS. These six cryptocurrencies offer a wide array of opportunities for traders to trade with new and different traders interested in those coins. It also has around ten fiat currencies, such as USD, EUR, GBP, and CAD. It allows Sahara Coins to offer traders a greater variety of coins to suit the needs of the trader and their preferred currencies.
➕ Great Customer Service
Sahara Coins has excellent customer service available 24/7 to answer any questions or concerns that its traders may have concerning their accounts. They also provide a live feed that allows traders to watch the records of their transactions and activity. It helps them to be able to know their account activity and how the trading platform works.
CONS
➖ Poor Mobile Accessibility
Sahara Coins does not allow its users to access its trading platform from their mobile phones to do trading when they are away for business or pleasure. It is because they do not have a mobile application that allows traders to access the trades they make while away from their phones.
➖ No Margin Trading
Sahara Coins does not allow its traders to margin trade while they're trading on their platform; this means that they cannot loan extra funds from other traders to trade more significant amounts of cryptocurrencies. Although they allow them to trade a variety of cryptocurrencies and fiat currencies, it doesn't allow them to use those extra funds on top of their assets and bitcoin that they already have.
➖ No Trading Analytics
Sahara Coins does not offer any trading analytics to its users, which could be a big problem for those new to trading and who only have a limited amount of experience when it comes to trading. It is because they may be unable to make the most out of their trades without the help of trading analytics, which traders use with more experience in trading.
➖ Poor Support Response
Sahara Coins has poor support response regarding the speed of their support team, and this is because they provide an average response time of 20 minutes when it comes to their support chat. It causes a problem for traders who are in a hurry or need their questions answered as quickly as possible. They should look for a more reliable and quick support platform with a faster response time.
➖ High Nitrogen Famine
Sahara Coins has a high risk of withholding coins from its users' accounts without explaining why they are doing so. It can cause users to lose out on their assets and bitcoin because they cannot withdraw their funds or trade because of the problem that is occurring with their account. It should be fixed as soon as possible so that users can withdraw their funds at all times.
Final Verdict
Sahara Coins is a decent cryptocurrency trading platform with many things going for it, but some drawbacks are also present on the platform. The main focus of the platform is to help its users make profits from their trades rather than have its traders be able to sit on their assets. It can become more of a problem in the long term as traders can only be able to profit from their assets for so long before they lose them.
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