Is Buda a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Buda is a good crypto exchange to start trading with. In this article you will learn whether Buda is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Buda
The Buda cryptocurrency exchange is among the largest exchanges in South America and works with traders worldwide. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Bitcoin Cash, and USDC are traded here. There are four fiats represented and they are the Chilean, Colombian, and Argentine pesos, as well as the Peruvian sol. There are several major options for depositing and withdrawing funds, including direct transfers from bank accounts. The website has no solutions for investors. However, active traders can use the referral program and earn 20% of the amount of invited users’ trading fees. The platform operates stably and is characterized by a modern security system, large trading volumes, and high liquidity. Traders can trade using both the terminal in a browser (standard TradingView) and the website's proprietary mobile application.
| 💰 Account currency: | BTC, ETH, LTC, BCH, USDC, CLP, COP, PEN, and ARS |
| 🚀 Minimum deposit: | $1 or its equivalent in pesos or sols |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiats |
| 💹 Margin Call / Stop Out: | No |
Buda Pros and Cons
👍 Advantages of trading with Buda:
•the most popular cryptocurrencies and four South American fiat currencies are traded here;
•the exchange offers a convenient, intuitive trading terminal and its proprietary application for mobile trading;
•the profitable referral program allows you to earn 20% of the trading commissions of invited users;
•90% of users' funds are stored using the cold method; the exchange has a modern security system;
•no restrictions on trading strategies, impressive limits, and integration of API solutions are possible.
👎 Disadvantages of Buda:
•trading with leading world fiat currencies isn’t available;
•lack of offers for investors, demo accounts, and tutorials for novice traders.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Buda Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Buda offers traders the following conditions.
| 💻 Trading platform: | TradingView, in browser |
| 📊 Accounts: | Standard |
| 💰 Account currency: | BTC, ETH, LTC, BCH, USDC, CLP, COP, PEN, and ARS |
| 💵 Replenishment / Withdrawal: | Bank accounts, and electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 or its equivalent in pesos or sols |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiats |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | n/a |
| ⭐ Trading features: | The most popular cryptocurrencies, four South American fiats, high speeds for transactions, large trading volumes, no investment, profitable referral program, the indirect contribution of traders to environmental protection |
| 🎁 Contests and bonuses: | n/a |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Buda commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The Buda cryptocurrency exchange has two types of trading commissions – the initial commission and the level commission. The initial commission for all users is the same – 1.2% for all trading operations, regardless of the currency, direction, and volume of the transaction. As soon as you verify and start actively trading, you get the first trading level, and the commission will be reduced.
There are seven trading levels on the site. The trading level is determined by the volume of trades over the last 30 days. For example, at the first level (with a trading volume of up to $2,000), the commission is 0.8% for market orders and 0.4% for limit orders. At the highest, seventh level, trading commissions are already 0.2% and 0.1%, respectively, which is well below the market average.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | up to 1.2% per application | Yes |
Investment programs of Buda
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Buda offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
This cryptocurrency exchange doesn’t have investment programs. It is designed for active trading. You can earn by buying and selling cryptocurrencies, coins, and national currencies. Only the referral program is available from passive earnings.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Buda’s affiliate programs
The Buda cryptocurrency exchange offers a referral program that allows you to earn extra income without trading. Any verified user can participate in the program. To do this, find a personal link in your personal account. You can post it on any site or send private messages.
Each user who comes to the exchange using your referral link, registers, and undergoes verification, becomes your referral. And he will bring you 20% profit of the commissions on all his trading operations.
The referral program is valid for 1 year from the date of registration of the referral. You will not get income from his trades after the expiration of this period. The number of referrals is not limited, the exchange client can invite any number of users to the site using your link. Statistics are presented in the personal account. Find more details about the terms in the "Referral program" section on the official website of the exchange.
Conclusion. Is Buda good for beginners?
The Buda cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Buda could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.