🔥 Ternion Test 2021: Broker Experience & Rating
Disclaimer: This post is a sponsored article.
If you want to trade in cryptocurrencies, you will relatively quickly come to the conclusion that there are numerous exchanges here that allow you to easily exchange fiat money - i.e. euros and US dollars - into digital currencies. One such provider is Ternion. Although still a bit unknown in German-speaking countries, it may be a very interesting crypto exchange that you can take a closer look at.
What is Ternion?
The Ternion crypto exchange offers registered users a digital currency exchange. The licensed company is based in Estonia. High-quality financial solutions are offered in order to be able to transfer fiat money into digital coins (and vice versa). But there is also the possibility to exchange the cryptocurrencies with each other.
Due to the fact that Ternion has a license for crypto currencies, it is a platform that is fully integrated in the market and that could well be used as an alternative to the well-known exchanges.
Who Owns Ternion?
The team behind Ternion consists of Founder & CEO Rudolf Medvedev, Marketing & PR Lead Valeria Cealic, Creative Content Writer Eugene Petrov as well as Lead Web Designer Artem Shabanov and Blockchain Development Lead Anatolii Lytvynenko.
Ternion put to the test
If you have an interest in Ternion, it may be advisable to get an idea of the provider in advance. In other words, the question here is which services are offered at all. As a result, safety and conditions naturally also play a role. It is therefore important to take a look behind the curtain in order to find out at an early stage what to look out for if necessary. This is the only way to ultimately avoid nasty surprises.
Ternion is an extremely versatile exchange platform. The main goal pursued by the operators here? As a crypto exchange, you want to create and facilitate further access to the crypto market. That means, you want to give beginners the chance to work with digital currencies without any problems.
Ternion is a regulated, centralized and licensed exchange. Fiat to crypto trading, crypto to fiat trading and crypto to crypto trading are made possible. So you can exchange your euro or US dollar for (for example) Bitcoin, Bitcoin for euro or US dollar or Bitcoin for (for example) Litecoin.
So-called margin trading is offered here. This involves trading without an actual delivery of an asset. Trading is done with leverage and ultimately on how the course continues. That means, it is about the correct assessment of the market development. This means that money can also be made when the courses go downhill - and of course you have recognized this in advance. It should be noted that the risk involved in trading cryptocurrencies should not be ignored. Because the crypto market is extremely volatile. This means that price movements, which can often move in the three-digit US dollar range, are absolutely not uncommon. Anyone who misjudges the market and ultimately acts with high levers can sometimes experience painful financial losses.
Due to the fact that trading in cryptocurrencies is risky enough, one at least wants to be certain that there is no danger from the provider. So you want to know right from the start that this is a reputable provider who also strives to use the latest security precautions to ensure that you do not fall victim to a hacker attack.
If new deposits are made, they flow directly into the cold wallet, which is completely isolated in the online system. It should be noted that only those coins are kept in the hot wallets that are required for daily liquidity. This means that even if there is a hacker attack, the entire amount of coins cannot be accessed.
Ternion works with two-factor authentication. It is important that this authentication is activated by each dealer himself. This is the only way to provide the best possible protection against possible attacks.
In addition, Ternion works with a very secure system when documents for account verification are uploaded and then transmitted. Furthermore, the provider also points out that the server network is always upgraded with the latest security programs. This means that Ternion is, at least according to its own information, always up to date in terms of security.
Is Ternion serious?
Due to the fact that more and more providers for crypto trading have come onto the market in recent years, it simply cannot be ruled out that there are also a few black sheep among them. For this reason, it is particularly important to take a look behind the scenes in advance and check whether the provider in question is really serious.
Ternion may still be rather unknown in German-speaking countries, which is why it is by no means so easy to say whether it is a serious or questionable provider. However, if you take into account the first contact, deal with the background as well as the fact that it is a licensed provider, one may come to the conclusion that it can be a reputable provider.
Costs, Fees and Interest
Another point that is also important in addition to security and reliability may be the fee model followed by the provider. Because the fees incurred always gnaw at the returns. In order not to have to experience any nasty surprises, it is therefore advisable to know how high any fees can be before registering.
The trader can look forward to a bonus of 0,03 percent for executed limit orders. For executed stop and market orders, 0,08 percent is charged.
Due to the fact that shares are not traded via Ternion, no dividends are paid out at all, so there can be no dividend fee.
Swaps are permitted. It should be noted that this is 9 percent / year and a calculation that takes place four times a day (0,0062 percent of the position volume).
There are always fees involved in trading. In order not to experience any nasty surprises here, you should therefore deal in advance with the fee model that was created by the provider for trading in crypto currencies.
The minimum amount for Bitcoin is 0,15 BTC - if a small amount is deposited, the fee is 0,0004 BTC.
With Ethereum, the minimum amount is 4 ethers, whereby the fee, if this amount is not paid in, is 0,01 ethers.
EOS has a minimum amount of 120 coins; the fee for a small deposit is 0,2 coins.
Ethereum Classic also has a minimum amount of 120 coins - here, too, the fee if the minimum amount is not paid is 0,2 coins.
A minimum amount of 40 coins applies to Bitcoin Gold, whereby the fee if the minimum deposit limit is not reached is 0,1 BTG.
Are there any hidden costs at Ternion?
Ternion only incurs those costs that are also listed on the homepage.
Ternion experiences and customer reviews
“I have been dealing with cryptocurrencies for a long time, but I was always unsure which platform to use with them. With Ternion I finally found a way to exchange the euro for Bitcoin. ”Adrian, 33 years old.
“Ternion is a highly recommended platform that can be used to trade cryptocurrencies without any problems. There is also the possibility of exchanging digital currencies with one another. ”Herbert, 42 years old.
“So far, I've only had good experiences with Ternion. Anyone interested in the crypto market should definitely take a look at this platform. ”Yanik, 22 years old.
“If you want to make money with Bitcoin or another cryptocurrency, then Ternion is very much a stable platform. I've never had problems with Ternion. ”Maximilian, 39 years old.
How good is the customer support?
If you have a problem or a question, you would of course like to get help from an employee. In order to be able to contact the Ternion team, a contact form is available on the homepage. There are no other contact options (yet).
How to open your depot with Ternion
If you are of the opinion that you want to work with cryptocurrencies via Ternion, an account must be opened at the beginning.
fill out Form
The form to register with Ternion can be found on the homepage. It should be noted that the registration is self-explanatory. This means that even beginners who have never had anything to do with crypto currencies or a comparable platform will not face any challenges here.
Legitimation and possibly credit check
Nowadays, such authentication processes are carried out in the course of the VideoIdent process. This means that the customer no longer even has to leave their own four walls if they want to prove their identity to the provider.
Trading can be started immediately after registration.
How long does it take to open an account?
The account opening takes a few moments. It only takes a few minutes on average from calling up the homepage to completing the registration.
There is a minimum deposit at Ternion
It should be noted that there is a minimum deposit of 10 euros.
Trading on Ternion
Ternion may well have a very promising offer, although of course it must be taken into account that there are also a few points that could very well be improved.
- Low trading fees
- Fast and easy registration process
- Clear platform
- Contact can only be made using the contact form
- Deposit fees
- In the German-speaking area, it is still a rather blank slate
Ternion and Taxes
Profits made through Ternion are of course taxable. This means that in the course of the tax certificates that take place in the following year, the profits that were booked with the crypto trade must be stated.
Payments to Ternion cause additional costs. If you make a deposit of 10 euros with Wire Transfer, you have to pay a fee of 0,1 percent. When paying with a credit card, for example with VISA or MasterCard, the fee is 4,5 percent.
Our experience with the broker Ternion
If you deal with crypto trading, you will not inevitably come across Ternion's offer in German-speaking countries. This is a rather unknown provider. But that does not mean that this is not recommended. Ternion may well have strengths and weaknesses, but these should definitely be compared with your own ideas in advance. There are certainly providers who are more popular and sometimes also have better offers. Due to its lack of popularity, Ternion is more than an insider tip - and that can very well be seen as a positive.
Ternion is a very interesting platform that can be used to work with digital currencies. Ultimately, however, you have to take a look behind the scenes yourself and compare the various services with your own ideas about such a platform. You should only decide to open an account if you come to the conclusion for yourself that Ternion has met all of the self-imposed requirements.