Ternion Test & Experience ▷ All about the trading platform
Disclaimer: This post is a sponsored article.
If one wants to trade with crypto currencies, one will relatively quickly come to the conclusion that there are numerous stock exchanges here that make it possible to exchange fiat money - i.e. euros as well as US dollars - into digital currencies without any problems. One such provider is Ternion. Although it is still somewhat unknown in the German-speaking world, it may be a very interesting crypto exchange, which you can take a closer look at.
The Ternion Crypto Exchange offers registered users a digital money exchange service. The registered office of the licensed company is located in Estonia. It offers high quality financial solutions to transfer fiat money into digital coins (and vice versa). There is also the possibility to exchange the crypto currencies among each other.
The fact that Ternion has a licence for crypto-currencies makes it a fully integrated platform in the market, which 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, Lead Web Designer Artem Shabanov and Blockchain Development Lead Anatolii Lytvynenko.
Ternion in test
If you have an interest in Ternion, it may be advisable to get an idea of the supplier in advance. That means, here it is once about the question, which services are offered at all. In the further consequence naturally also the security as well as the conditions play a role. It is therefore important to take a look behind the curtain in order to find out at an early stage what you should pay attention to. This is the only way to avoid unpleasant surprises in the end.
Ternion is an extremely versatile exchange platform. The main objective pursued by the operators here? They want to create and facilitate further access to the crypto market as a crypto exchange. In other words, they want to give even beginners the chance to work with digital currencies without any problems.
Ternion is a regulated, centralized and licensed exchange. It enables the Fiat to crypto trade, the crypto to Fiat trade and the crypto to crypto trade. 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.
The so-called margin trading is offered here. This is trading without an actual delivery of an asset. Trading is done with leverage and ultimately on how to proceed with the price. In other words, it is about the correct assessment of the market development. This means that money can be made when prices go downhill - and of course you have recognized this in good time. It should be noted that the danger that exists when trading with crypto currencies should not be ignored. The crypto market is extremely volatile. This means that price movements, which can often be in the three-digit US dollar range, are absolutely not uncommon. Anyone who misjudges the market and ultimately operates with high leverage will sometimes have to incur painful financial losses.
Due to the fact that trading crypto currencies is risky enough, one would at least like to have the certainty 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 measures to ensure that you do not fall victim to hacker attacks.
When new deposits are made, they flow directly into the Cold Wallet, which is completely isolated in the online system. It is important to note that only those coins that are needed for daily liquidity are stored in the Hot Wallets. 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 also activated by each dealer himself. This is the only way to provide the best possible protection against possible attacks.
In addition, Ternion uses a very secure system when documents are uploaded for account confirmation 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 reputable?
Due to the fact that more and more providers of crypto-trading have entered the market in recent years, it simply cannot be ruled out that there are a few black sheep among them. For this reason, it is particularly important to take a look behind the scenes and check whether the provider in question is really serious.
Ternion may still be rather unknown in the German-speaking world, which is why it is not at all easy to say whether it is a reputable or questionable supplier. If one considers however the first establishment of contact, is concerned with the background as well as also with the circumstance that it concerns a licensed offerer, then one may come nevertheless to the result that it can concern a respectable offerer.
Costs, charges and interest
Another point that is important in addition to security and reliability may be the fee model pursued by the provider. Because the resulting fees always gnaw at the returns. In order not to have to experience bad surprises in the long run, it is therefore advisable to know already before the registration, how highly any fees can become.
For executed limit orders, the trader can look forward to a bonus in the amount of 0.03 percent. For executed stop and market orders 0.08 percent will be charged.
Due to the fact that shares are not traded through Ternion, no dividends are paid and therefore no dividend fee is payable.
Swaps are permitted. Please note that here 9 percent per year as well as a calculation taking place four times a day (0.0062 percent of the position volume) are used.
Fees are always incurred during trading. In order to avoid unpleasant surprises, one should therefore deal with the fee model in advance, which was created by the provider for trading with crypto currencies.
with crypto currencies
The minimum amount for Bitcoin is BTC 0,15 - if a small amount is deposited, the fee is BTC 0,0004.
For ethereum, the minimum amount is 4 ethers, and if this amount is not paid, the fee is 0.01 ether.
EOS has a minimum deposit of 120 coins; the fee for a small deposit is 0.2 coins.
Ethereum Classic also has a minimum deposit of 120 coins - here too, the fee is 0.2 coins if the minimum deposit is not paid.
Bitcoin Gold is subject to a minimum deposit of 40 coins, with a fee of 0.1 BTG if the minimum deposit is not reached.
Are there any hidden costs at Ternion?
Ternion will only charge those costs that are listed on the homepage.
Ternion experiences and customer reviews
"I have been dealing with crypto-currencies for quite some time, but have always been unsure about which platform to work with. With Ternion, I finally found a way to change the euro to Bitcoin." Adrian, 33 years old.
"Ternion is a highly recommendable platform through which crypto currencies can be traded without any problems. It also offers the possibility of exchanging digital currencies among each other." Herbert, 42 years old.
"I've only had good experience with Ternion so far. Therefore, anyone interested in the crypto market should definitely take a look at this platform." Yanik, age 22.
"If you want to make money with the Bitcoin or any other crypto currency, Ternion is very much a stable platform. I've never had any problems with Ternion." Maximilian, age 39.
How good is the customer support?
If you have a problem or a question, you would naturally like to get help from a member of staff. To contact the Ternion team, a contact form is available on the homepage. There are no other contact possibilities (yet).
How to open your Ternion account
If you think that you want to work with crypto currencies via Ternion, you have to open an account at the beginning.
fill in the blanks
On the homepage you will find the form to register with Ternion. Please note 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 be challenged here.
Legitimation and possible credit assessment
Nowadays such legitimation procedures are carried out in the course of the VideoIdent procedure. This means that the customer does not even have to leave his own four walls if he wants to prove his identity to the provider.
After registration, trading can begin immediately.
How long does it take to open an account?
Opening an account takes a few moments. On average, it takes only a few minutes from the time you enter the home page to the completion of the registration process.
Is there a minimum deposit at Ternion
It should be noted that the minimum deposit is 10 euros.
Trading on Ternion
Ternion may well have a promising offer, but of course there are some points that could be improved.
- Low trading fees
- Fast and easy registration process
- Clearly structured platform
- Contact is only possible via contact form
- Deposit Fees
- In the German-speaking area still a rather blank sheet
Ternion and taxes
Profits made through Ternion are of course taxable. This means that in the course of the tax certification that takes place in the following year, the profits that were booked with the crypto trade must be declared.
Deposits on 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. If you make a deposit with a credit card, such as VISA or MasterCard, the fee is 4.5 percent.
Our experience with the broker Ternion
If one deals with the crypto trade, one will not inevitably come across Ternion's offer in the German-speaking world. Here it concerns a still rather unknown supplier. But this does not mean that it is not recommendable. Ternion may well have strengths and weaknesses, but these should definitely be compared in advance with your own ideas. Very well there are providers who are more popular and sometimes have a better offer. Due to the lack of popularity Ternion is more of an insider tip - and that can very well be seen as a positive thing.
Ternion is a very interesting platform for working 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 what you want from such a platform. Only if you come to the conclusion that Ternion meets all your self-imposed requirements should you decide to open an account.