Pure. Reviews 2022
As the crypto industry continues to grow and develop, many platforms do their best to provide users with one-stop solutions. For one, modern crypto wallets allow owners to exchange coins, earn via staking, etc. Another trend is a strive to cooperate with regulators and provide licensed services, as semi-legal platforms are slowly becoming a thing of the past.
In this article, we will review an European platform that follows both trends mentioned above. It is a multi-functional financial ecosystem called Pure. The platform, available for the EU residents, provides a wide array of features from fiat-to-crypto exchanges to cryptocurrency-topped cards. We will review the main features of Pure., figure out if it's safe to use Pure., and answer other crucial questions.
- What Is Pure.?
- Main Features
- Pure. Card
- Investing & Trading
- Costs and Fees
- How to Launch a Pure. Account?
- Is Pure. Safe?
- Conclusion
What Is Pure.?
Pure. is a user-friendly financial ecosystem that provides multiple features, including operations with fiat money and cryptocurrencies. The service is available in the form of an app with a desktop version as well as mobile versions for iOS- and Android-based devices.
The platform can be used only in EU countries, and KYC is obligatory for all users. Pure. holds three licenses. In Estonia, the platform is regulated by the Financial Intelligence Unit (FIU). In Cyprus, Pure. is a legit broker licensed by the Cyprus Securities and Exchange Commission (CySEC). In Germany, it has a retail asset manager license from the Federal Financial Supervisory Authority (BaFin). So, as you can see, in contrast to many crypto platforms, Pure. is far from being another unregulated crypto service.
Pure. was launched in 2021. The CEO of the platform is Daniele Casamassima, who started his career as a trader when he was 21. For years, he worked in banks and investment companies in Italy, the UK, and Cyprus, received a number of awards, developed several white label programs, etc. In 2016, Daniele decided to focus on the crypto industry, and — that’s when he came up with Pure.: a platform combining banking, investing, and trading functionality.
So, let's explore the main features provided by Pure.
Main Features
In short, Pure. allows users to perform the following actions:
- Make fiat-to-crypto, crypto-to-fiat, and crypto-to-crypto transactions;
- Do free Euro withdrawals;
- Earn via holding cryptocurrency;
- Open, manage, and use SEPA accounts;
- Order a credit/debit card which supports cryptocurrency storage/payments;
- PAMM investing in the fiat money market;
Now, let's review these features in detail. First, we should mention that the overall UI of Pure. is very user-friendly and aimed at a wide audience. Pure. wallet allows you to manage your funds. It supports several cryptocurrencies, including Bitcoin, Ether, Tether, XRP, Litecoin, Binance Coin, Dogecoin, Cardano, and other popular cryptocurrencies.
Pure. Card
Apart from sending, receiving, and storing money (fiat currencies and crypto coins), you can use Pure. to open a SEPA account. Pure. Card can be used as a salary card or for regular financial operations. You can pay with this card for goods, both in brick-and-mortar shops and on the online markets. Pure. guarantees that transfers across Europe won't take longer than one day.
The Pure. Credit Card brings the crypto adoption much closer, allowing users to spend their cryptos as easily as regular money. The conversion of currencies is immediate and automated: you just spend your money without having to convert crypto to fiat. Cardholders don't pay service fees. EUR can be withdrawn for free.
Transactions within the Pure. ecosystem (between Pure. accounts) are free of charge, which incentivizes users to invite their friends to join the network and build the community. Exchange operations take around 10 seconds on Pure. and are not subject to bank fees.
Investing and Trading
Apart from storing, spending, and transferring money, Pure. allows you to earn interest for holding your funds. There are several plans to choose from, and the longer you hold the money, the higher the rewards. The annual yield can reach up to 10%. The cryptocurrencies that can be used for earning an APY are Bitcoin, Ether, Binance Coin, Tether, XRP, USD Coin, and Polygon.
In terms of trading, Pure. provides an opportunity to trade both on crypto markets and traditional financial markets. Apart from dozens of cryptocurrencies, Pure. allows trading CFDs FX, CFDs on Indices, CFDs on Stocks, and CFDs on Commodities. Traders dealing in coding can trade via the FIX API. Pure. supports 9 order types, which allows traders to avoid losses. In general, the platform supports over 300 trading instruments.
Costs and Fees
Nothing comes for free, and even though Pure. doesn't collect most of the regular fees, it has paid features, too. You are charged with the fees when you withdraw cryptocurrencies (while EUR and GBP withdrawals are free). Withdrawal fees on Pure. are pretty average (and are close to the network fees). For instance, moving your BTC out will cost you a fixed fee of 0.0005 BTC. Withdrawal of USD-pegged stablecoins, USD Coin, and Tether costs 25 units. Exchanging cryptos is not free either the exchange fee is 1.5%. Deposits are free.
The Pure. card has its fees and limits, too. The debit card exchange fee is 2%; and when you withdraw via ATM, you are charged a flat fee of €2.50. Cash withdrawals are limited to 1000 units (GBP or EUR). The 24h spending is limited to 7250 units.
How to Launch a Pure. Account?
One can set their account in around 10 minutes. First off, you should dedicate around 3 minutes of your time to filling in the registration info and the questionnaire. The next (and the final) step, completing the KYC procedure, takes more time. First, you should send a picture of your ID and a selfie, and then authenticate yourself via a video call. When these steps are complete, you can start using Pure. and fully enjoy its benefits.
Is Pure. Safe?
Security of funds is one of the crucial factors when choosing a crypto platform. Chords of hackers and scams are stealing money from careless crypto investors day and night. If you choose a crypto platform with weak security, you risk losing everything you have earned. If the platform provides you with protection measures but you neglect them, your money may be stolen. Luckily, Pure. is one of the top platforms when it comes to security.
Only a few crypto platforms can boast bank-grade security of funds. On Pure., your money is guarded by the Central Bank of Lithuania, which makes it a trustworthy platform. If you put your money here, you can rest assured that it will have a high level of protection.
If you have any troubles, you can contact the support team via live chat. It works on business days, 11 hours per day. The average response time is 2 minutes, which is amazing considering how slow and overloaded the support teams of most crypto platforms are.
Conclusion
All in all, we can see that despite being a young platform, Pure. is a mature and versatile ecosystem that has the potential to bring cryptocurrencies into everyday lives in many countries. Effectively, its convenient bank-like app that widens people's opportunities by introducing crypto coins. There are many directions that Pure. can start exploring in the future. As of 2022, this platform seems to be a promising new player in the arena.
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