Invity Review – Is Invity Legit & Safe To Use?
When this article was written, Coinmarketcap reported a total of 502 crypto exchanges registered on its platform. Each of these exchanges has its peculiarities, but they all serve the similar purpose of allowing users to buy, sell, and trade cryptocurrencies.
As a user, it might be confusing for you to make your pick among these many exchanges. If only you had a tool that would compare these exchanges for you and help you pick out the one with the best rate?!
This article will expose you to one of such tools, Invity. Follow me as I take you through.
WHAT IS INVITY.IO
Invity was created in 2019 by SatoshiLabs, a manufacturer of the famous Bitcoin hardware wallet Trezor. It is based in the Czech Republic and serves as a comparison tool that helps users compare the best exchange rates across the cryptocurrency world and make purchases accordingly.
It is the perfect tool for newbies just starting out in the world of cryptocurrencies as it makes the process of purchase and comparison entirely streamlined. It is also fully integrated with Trezor, one of the world’s leading hardware wallets.
The following features stand out about Invity and will be discussed further in this article:
- Crypto Purchases with fiat
- Crypto exchanges with other cryptos
Also, there are some exciting upcoming features that we will mention as this article progresses.
HOW TO USE INVITY TO BUY CRYPTO
Invity has partnered with about eight payment processors to ensure that the process of buying crypto is as simple as it can be. The payment processors are Banxa, Simplex, BTC Direct, Wyre, CEX.IO, Coinify, and MercuryO.
To buy crypto on the platform, select ‘Buy Crypto‘ from the website and follow the prompts as indicated. It’s a pretty straightforward process that also involves a few warning messages popping up occasionally.
You can currently buy about 14 different cryptocurrencies on Invity with 38 fiat currencies. You can also exchange cryptocurrencies with each other and sell crypto for fiat whenever you deem fit.
HOW TO INVEST IN CRYPTO VIA INVITY.IO
This is another feature of Invity, one that still awaits a launch date. How will it go? Simply put, this feature will help you make dollar-cost averaging purchases.
More information will surface when this feature is released, but what we know now is that it’ll involve regular purchases of crypto using fiat from your bank and depositing it in a crypto wallet of your choosing.
WHAT IS COINMAP?
Coinmap is a sponsored project by the Invity team that shows crypto enthusiasts the real-life applications of cryptocurrencies in the fintech and commerce world.
It does this by linking you up with over 20,000 different ATMs and businesses worldwide that accept and pay out cryptocurrencies. It’s like an index of sorts and is ever-growing as anyone can add a listing for free.
This feature runs on a different website, coinmap.org, and also offers a way to buy and exchange crypto using various payment service providers.
Invity has a transparent fee structure, showing you all you will have to pay in one transaction; there are no hidden fees. The fees charged differ with each payment processor and are showed in the table below:
|PROVIDER||TOTAL USER FEE|
|Wyre||1.2%-4.9% + $0.3(minimum total should be $5)|
There are also other fees associated with exchanging cryptocurrencies with one another. The fees are:
- ChangeHero – 1.5%
- Changelly – 1.5%
- ChangeNow – 1.5%
- FoxExchange – 1.5%
- LetsExchange – 1.5-1.9%
- SideShift.ai – 1.25%
INVITY.IO REVIEW: SAFETY AND PRIVACY
Being backed by a platform as reputable as SatoshiLabs, Invity strives to protect its customers by vigorously verifying the authenticity of its payment processing partners. Thus, users can be certain that they won’t be scammed when they buy through Invity.
DOES INVITY HAVE A MOBILE APP?
At the moment, Invity does not have a mobile app. All transactions on the platform are done through its website.
The following features are expected to be launched on Invity later in 2022:
With this feature, users can systematically invest in Bitcoin and other cryptocurrencies. It only needs to be set up once, and then it becomes automatic from there.
As the name suggests, this will be the place for crypto newbies to be introduced into the world of cryptocurrencies. It will be presented in a multimedia format and will be structured from beginner to intermediate to advanced levels.
INVITY.IO VS COMPETITORS
Invity trumps most of its competitors because it’s rare to find a platform that combines all its properties. Its ease of use and direct crypto services make it a notch above the rest. However, Changelly, Coinbase, Coinmarketcap, and a few other crypto platforms may be considered as worthy alternatives.
INVITY.IO REVIEW: CONCLUSION
Invity is a one-of-a-kind service that aims to make it seamless to buy, sell, exchange, and use crypto. With its user-friendly interface and innovative features, even crypto newbies can make sense of the crypto world.
To cap it off, it provides a non-custodial service, making it a trusted platform since it doesn’t hold your coins. Therefore, you don’t really have much to lose, do you? Why not try it out? Remember, though, that you are in charge of your own decisions in the crypto world. Therefore, look before you leap.
- It allows you to choose the crypto exchange with the best rate at any given time.
- It has a transparent fee structure.
- The website design makes it easy for even newbies to purchase crypto.
- It has a few innovative features, like Coinmap, Invity Academy, etc.
- It has a physical office, which lends further to its authenticity.
- It fully integrates with the Trezor wallet through the Trezor Suite.
- Some of the features are still currently undeveloped.
- A limited number of cryptocurrencies.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com