Yuan Chain Coin Review 2024: Is It a Legit Trading Software?
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Cryptocurrency is now widely accepted as a digital payment alternative and trading asset in many locations around the world. Although regulation is still being debated by governing bodies and will vary depending on where you hope to trade, it’s no secret that adoption is growing every year. To support this, even China has entered the niche with its very own trading platform, Yuan Chain Coin – but there is a lot to consider before signing up. With this in mind, let’s take a look at everything you need to know with our comprehensive review.
Yuan Chain Coin – Key Points
In 2014, the Yuan Pay Group was created in partnership with the Chinese government to be the leading facilitator for cryptocurrencies in China – and Yuan Chain Coin was later developed to connect traders with brokerages and automated trading software.
Endeavours are typically undertaken on the platform using the Yuan coin (also known as e-Yuan) and industry insiders believe that this will soon become the country’s only state-backed digital currency. Whether this will happen or not, the Yuan Chain Coin platform currently has a lot to offer traders across the globe. Users can expect:
- AI technology and advanced algorithms are used to automatically find and execute trades with the most potential with little human input
- Software integration with brokerages to facilitate leveraged trading via CFDs
- A reported win rate of 99%
- Zero sign-up costs
- Free demo trading account
- Suitable for new and more experienced traders alike
Yuan Chain Coin has cross-device compatibility for ease of use but currently doesn’t have its own mobile app.
What does Yuan Chain Coin do?
Yuan Chain Coin is the only crypto trading platform to be endorsed by the Yuan Pay Group and provides a secure trading environment. Users are assured that all brokerages are pre-verified and as e-Yuan is accepted worldwide, traders from a host of locations will be able to make trades using this crypto. The platform claims to use AI software, algorithms, trading insights and machine learning to scour the financial markets and determine trades that are likely to be profitable.
When user-set parameters are met, the software will either automatically execute the trades or pass them on to the necessary broker or exchange, who will do so instead. All users will need to do is set the initial markers that the tech will follow and check in (and adjust) these from time to time to ensure that everything functions in alignment with their trading needs. This level of customization is a good feature for a trading platform to have and can allow for strategies to be implemented and budgets to be met with little worry.
While the Yuan Chain Coin trading robot works to collect and analyse vast amounts of data to bring nothing short of the top predictions and execute trades with profit potential, it also facilitates trading via brokerages and exchanges. These will offer trading products known as CFDs – and these contracts for difference can be used by traders to enhance their overall experience via leverage.
How to start trading with Yuan Chain Coin
Step 1
The Yuan Chain Coin website has a simple sign-up form that requires no more than your name, phone number and email address. You will then be contacted by an account manager who will talk you through the next steps (this will typically include KYC verification and any extra requirements when using a partnered broker).
Step 2
Unlike many sites in the crypto niche, all features will be accessible after registration is complete (many ask for the initial deposit first), so you can go straight to the demo trading account to gain some experience, connect with your broker, or set some trading parameters.
Step 3
When you are ready to trade using real funds, make your first deposit of $250 and get started.
The Pros and Cons of Yuan Chain Coin
As there are so many trading platforms out there, it can be a worthwhile idea to take a look at both the pros and cons of Yuan Chain Coin to make an educated decision before signing up.
Advantages:
- Automated trading using advanced AI and deep market insights for fast, intuitive execution
- Software integration for leveraged trading
- Free sign-up and demo trading
- Simple, user-friendly UI
- Quick registration
- 24 hour customer service
- Support for e-Yuan alongside Bitcoin, Bitcoin Cash, Ethereum, Litecoin and XRP
- KYC verification upon signup for added security
- Access to a personal account manager upon signup
Disadvantages:
- No proprietary mobile app
- Leverage trading comes with additional risks
It may be worthwhile to keep in mind that Yuan Chain Coin doesn’t give much information on its website outside of an FAQ and a blurb about its role in the Chinese crypto market, so there is little for new signups to go on before creating an account.
Yuan Chain Coin’s main features
Taking a look at the features on offer at Yuan Chain Coin can help you to determine whether the site is legit or a scam, as well as to see if it aligns with your trading needs. As the niche is still widely unregulated, it can be especially important to know what’s available and potential red flags before putting your money on the line. At the same time, some tools and options will work better for one trader over another, so here’s a closer look at what Yuan Chain Coin provides.
Demo trading
This is a great feature for a trading platform to have as it allows users to get to grips with the site and software before putting any real money at risk. This is advisable for both beginner and more experienced traders, as they will be able to test out strategies, different parameters, and more to see what works. Trading can be a very personal experience, so it’s important to undertake your endeavours as you see fit.
Software capabilities
Yuan Chain Coin uses advanced AI software and algorithms to chart historical data, market trends and more to identify the most profitable trades and execute them quicker than a trader could manually. This also removes the human element of emotional trading that can be a pitfall for traders of all calibers. When trading via a partnered brokerage or exchange, remember that they will have their own technology and rates of performance in terms of software, so be sure to do additional research on these where you can.
Customer service team
There is a well-appointed customer support team that can be reached through live chat, email and phone; 24 hours a day, 7 days a week. This means that users will be able to use multiple avenues to get their questions answered and issues addressed. Upon creating an account, users will be awarded a personal account manager and these will be an additional port of call for support. This level of peace of mind could be a deal breaker for some users when considering reputability.
CFD trading
While users can automate their trades with the software and use strategies such as arbitrage trading and news trading, the ability to trade using leverage through brokerages and exchanges is an attractive feature. CDFs allow traders to put forward a small portion of their funds against a leveraged sum and reap the rewards from across the spread. Of course, this will also be the same for losses, so it can be a risky endeavour that will need caution and research to execute with little financial threat.
Site Security
When it comes to site security, users can expect SSL certification and encryption, with additional safety with BitGo, Norton, and McAfee. Also, partnered brokerages are said to be fully regulated, but doing your own checks can still be a good idea.
Key information about Yuan Chain Coin
Supported countries
Yuan Chain Coin is the only trading platform in China, but it can be accessed in Australia, New Zealand, South Africa, Nigeria, the UAE, the Philippines, Singapore, Italy, France, Spain, Germany and Mexico.
Payment methods
Users can make deposits and withdrawals using bank transfers, SEPA transfers, debit and credit cards, Skrill and PayPal.
Win rate
The platform claims a 99% win rate, which seems especially attractive, but this can be a red flag when considering legitimacy, as it is on the high side. As there are many scam trading websites out there, additional research will need to be done to determine reputability before signing up.
Fees and transaction costs
As far as we can find around the web, there are no fees when using Yuan Chain Coin. As it partners with brokers and exchanges, there may be fees associated with these. This means that you will need to do some additional research to ensure that you don’t end up paying out more than you expected (and this can apply to deposits and withdrawals, as well as commissions on trades themselves).
Yuan Chain Coin’s developers
Some review sites state that Yuan Chain Coin was created by an expert called Li Fang, but this hasn’t been verified. There is also mention of a team of software specialists and industry experts, but no names have been given. It isn’t uncommon for the creators of such software to be anonymous, so this shouldn’t be taken as a red flag.
Celebrity endorsements
Almost every trading robot out there has its fair share of reports regarding celebrity support, but there is often little credence to these. Yuan Chain Coin has been rumored to be used by Ryan Reynolds, Elon Musk, Bill Gates, Martin Lewis, Jeremy Clarkson and more, but none have been verified. It also hasn’t been mentioned on TV shows like Shark Tank or This Morning either.
Is Yuan Chain Coin a scam or a legit trading platform?
During our research and considering the features and tools on offer, there seem to be a lot of positive attributes for Yuan Chain Coin, especially when comparing it to other trading platforms. One of the top plus points is that the platform is accessible after sign-up, as many now require the initial $250 deposit to even access the demo account feature. The fact that it has connections to the Yuan Pay Group and the Chinese government is a level of security that other platforms simply don’t have.
Third-party testimonials and reviews on social media can be a great place to find out what real users actually think about the site and its software, so be sure to look around and build your own picture. In general, this trading platform does seem to be legit, but you may still want to practice caution just in case.
Yuan Chain Coin FAQ
Can you delete your Yuan Chain Coin account?
The good news is that yes, you can delete your Yuan Chain Coin account if you want to. All you’ll need to do is contact your personal account manager and follow the steps they provide.
Can you automate crypto trading with Yuan Chain Coin with no experience?
Yes. The purpose of a crypto trading platform is to facilitate automated trading so you can sit back and let the software work for you. This means that you can get started with little to no experience. As Yuan Chain Coin also connects users with brokers and exchanges to further enhance the overall trading experience and maximise profit potential, both new and experienced traders can stand to benefit from using the site.
Is leveraged trading worthwhile and can I make a profit from crypto trading on Yuan Chain Coin?
Leveraged trading has its pros and cons and these should be carefully considered before you use your money or digital assets to perform trades. It can suit a host of traders with differing needs, but it does come with risks and won’t be for everyone. Having said this, there is profit potential when using a trading platform like Yuan Chain Coin - and as it has a reported win rate of 99%, it does look like it could be a worthwhile site to use.
