Crypto Exchanges

Trezor Model T: Features, security, pros and cons

“Information stored online can be copied and stolen,” that’s Trezor’s unique selling point. 

Trezor is a hardware wallet – a car-key-sized device that you can use to store, send, and receive most of the major cryptocurrencies. If you’ve not used a hardware wallet before, you might be wondering how you are supposed to view your balances and even transact on such a mini dongle. Stick around to the end as we discuss this and much more.

For starters, a hardware wallet is a physical device that stores private keys used for signing cryptocurrency transactions. Contrary to potential misconception, it does not store the actual funds, just the keys. 

Trezor claims superior security and comes in a variety of flavors with different descriptive code names. For example, you will hear Trezor Model T, Trezor One Metallic, Trezor Ultimate Pack, and so on. Trezor Model T is the flagship wallet that was released by SatoshiLabs, the makers of this wallet. 

This review is all about Trezor. We will look at how to acquire one and get it up and running. We will also look at its security, ease of use, customer support, and other aspects that constitute a balanced cryptocurrency wallet evaluation. Stay tuned!

Key Features

  • Hardware wallet – You use a dedicated physical device for storing your private keys.
  • Multi-currency support – Trezor supports most of the major currencies.
  • Excellent customer support – The product is supported round the clock by a team of specialists.
  • U2F (universal second factor) account reinforcement – This feature works just like two-factor authentication, only that the second factor, in this case, is a hardware device you possess. Trezor’s U2F kicks in when authorizing transactions. This ensures that you never authorize an unknown transaction request.
  • Good reputation – Getting yourself a hardware wallet from a reputable vendor is critical. Imagine buying a cheap device only to find that it slowly siphons your coins to a secret address. Trezor’s reputation among its users will let you rest assured that your money is safe and will always be.

Security Features

Trezor is a hardware wallet, and for this, it boasts of unmatched security. Hardware wallets protect your funds with far greater security than their software counterparts, and it’s easy to understand why – when using these gadgets, your private keys and their associated data never have to see the internet. It’s technically impossible for cryptocurrency hackers to lay their hands on your private keys. 

“But software cold wallets do the same,” some will argue. Well, if you are operating a hot wallet and your computer is compromised by malware, you might be fast running out of luck.  But with a hardware wallet like Trezor, crypto-malware stands no chance.

However, like any other hardware wallet, it is important to take note of the following potential risks:

  • Hardware wallets are usually the target of high-value heists. It is believed that owners of these premium facilities need them because they have too much to store in ordinary software wallets. With more perceived value comes greater risks.
  • Possible product tampering during shipping – Since you are unlikely to fetch the gadget from the manufacturer, the risk that someone along the fulfillment line will alter the device lingers. That goes without saying that you should not purchase a used Trezor wallet, or would you?

Acquiring and Setting up the Wallet

The first step in setting up Trezor is purchasing one, of course! The Model T goes for €149 on, its official store. You can also find it on Amazon,, and probably a few other online shops. Weigh your options then decide. 

Your order has arrived, and you can’t wait to set up your literally shiny new wallet. Follow this quick guide:

  • Unbox the product. You should see the dongle, a USB cable, and two sheets for storing your recovery seeds (this is what you will need to recover your account if you ever lose your Trezor).
  • Connect one end of the USB cable to Trezor and the other to your computer.
  • Once plugged in, the device’s display turns on, and it will ask you to visit
  • Visit the web link above. The page has simple instructions on configuring the device. One of the key tasks at this stage is updating the firmware. Click on the “done” button on the page and the “continue” button on the device. Wait for the update to finish, then remove the device and plug it back in. Meanwhile, don’t close the webpage.
  • You will see a “Welcome to TREZOR” message on the web page and an input box for configuring your device’s name. Add a name and save.
  • The next step is setting up your PIN. You will do this on the web page as well. However, the keypad on the web page is a little weird – it is a matrix of dots instead of numbers! The actual keys will be on your Trezor’s mini display. Please note that the keys are not arranged sequentially as you would find on a traditional keypad, and their arrangement changes every time you open it. To set the PIN, tap the dots on the web page – they correspond to the keys on the Trezor display.
  • Confirm your PIN. Note that the keypad arrangement has already changed!
  • Next, you need to set up your recovery seed – very important. This mysterious recovery tool is a set of 24 words that Trezor will display, one at a time and in a specific order. You need to write them down in the order they are presented. There were two sheets of paper in the original box, which are to be used for this purpose. Now, after writing down the words on the first sheet and duplicating, then on the second, you need to store the papers in different locations – that’s how disaster recovery works, different locations.

Just like that, Trezor is set up, and you’re ready to transact. So, let’s see if that too is easy.

Sending Funds

As you might be aware by now, you will be operating your Trezor mostly from your computer. To send funds, 

  • Go to and click on the Wallet menu. It will ask you to plug in to continue. So, plug in your Trezor.
  • Enter your PIN on the keypad on the web page.
  • Confirm login on your Trezor.
  • Once you log in successfully, you will see your dashboard with a summary of your transactions.
  • Since Trezor supports different currencies, there’s an option to select which coins you want to send. The option for changing the currency is at the top right corner of the dashboard. Select the appropriate currency and click on the Send menu.
  • Provide the recipient’s address and amount to send in the screen that appears next.
  • Select the network fee. Typically, higher fees result in faster transaction completion. However, the network fee and amount of time it takes to complete a transaction depend on the coin you are sending.
  • Confirm the transaction on your device.

Receiving Funds

  • Go to and log in as above.
  • Change to the appropriate currency if necessary and click on the Receive menu. Your deposit address will be generated. Right-click to copy the address and share it with the sender.

NB: Trezor provides immunity against address swapping (which may occur if you have crypto malware on your computer) by allowing you to confirm the address on its mini display.

Supported Currencies

You can deposit it send the following coins using Trezor:

  • Bitcoin
  • Bitcoin Cash
  • Litecoin
  • Dash
  • Zcash
  • Bitcoin Gold
  • Ethereum
  • Ethereum Classic

Customer Care

SatoshiLabs’ customer service is pretty much reliable. You can raise support issues through the contact form on the website, and they will contact you back.


  • Highly secure
  • Easy to set up and use
  • Reliable customer service


  • The initial cost is high considering software wallets are free

Final Thoughts 

Trezor is undoubtedly an outstanding hardware wallet. It looks good. It’s secure, it’s easy to use and is supported by reliable customer care. These benefits come at a cost – Trezor Model T is €149 more expensive than it’s free software counterparts. Nevertheless, you can bet that this small investment will be worth every cent in the long run.

Crypto Exchanges

Samourai Wallet Review 2020: Is This The Safest Bitcoin Software Wallet?

Samourai is a bitcoin-only crypto wallet app for android smartphones. It takes pride in incorporating the broadest range of security and privacy features on its mobile app. On their website, Samourai is described as a “modern wallet hand forged to keep your transactions private and identity masked.” It was created by privacy activists who describe it as the “Bitcoin wallet for the streets.” They also hail it as the wallet that “Bitcoin deserves.”

The wallet integrates more security and privacy features than the average Bitcoin storage app. But have these translated to making Samourai the safest Bitcoin wallet? Importantly, how have they impacted its effectiveness? In this Samourai review, we highlight and detail the wallet’s key operational, security, and privacy features before telling you if it really is the safest bitcoin wallet out there.

Samourai wallet key features:

  • Segwit support: Samourai was one of the earliest Bitcoin wallet apps to embrace the SegWit Bitcoin blockchain upgrade. The protocol upgrade has played a key role in pushing down the blockchain network transaction fees and speeding up transaction speeds.
  • SMS commands: You can also control the app remotely with SMS commands. Send SMS codes to the wallet to retrieve either the public address or wipe the data therein.
  • Android-based: Samourai wallet app is only available for smartphones that use the Android operating system. The app developers claim that Apple iOS doesn’t welcome most of the customizable privacy and anonymity features of the Samourai wallet.
  • Multi-account support: Samourai wallet will only host Bitcoins. Though it is not multi-sig, there is no limit to the number of user accounts you can create.
  • Bitcoin health monitoring: The Samourai wallet is regularly monitoring the blockchain network. It will alert you when transaction processing speeds are relatively low and inform you of the current miner fees.
  • Batch processing: You can aggregate multiple crypto transactions and send them out as one. This, plus the reduce-by-fee feature, play a key role in pushing down the bitcoin transaction fees.

Samourai wallet security features:

  • Passcode: A 5 to 8 digit passcode secures the mobile wallet app. To evade keyloggers and screen recording spy apps, its PIN screen is randomized during every login.
  • Open source: The Samourai wallet app technology is also open-sourced. Anyone can view and audit its transparency.
  • AES-256 encryption: Samourai wallet app uses the AES 256 encryption tool to encrypt all its data. This military-grade encryption applies to all data held within the app, especially your private keys and password. Interestingly, you can also encrypt your email communications with the Samourai customer support to avoid possible man-in-the-middle attacks.
  • Recovery seed: You will also be furnished with 12 random phrases when installing the wallet app. These form your wallet’s recovery seed and are needed to recover your private keys.
  • Tor and VPN support: You can also access your wallet app using an anonymous IP not tied to your location or phone. Similarly, you can also open the app while masking your IP Address with a VPN or Tor.
  • No address reuse: The Samourai bitcoin wallet app is hierarchically deterministic and will not use the same address twice. It auto-generates a new wallet address for each transaction. It also randomizes change outputs, making it impossible for crypto transaction trackers to link a crypto activity to your wallet.

How to set up a Samourai software wallet

Step 1: Search for the Samourai bitcoin wallet on your Google Play Store. Download and install the app. Alternatively, use the F-Droid repository to download the Samourai wallet APK if you don’t want Google to keep a record of the download.

Step 2: On launching the app, click on ‘Create Account,’

Step 3: You will be required to set up a 5 to 8 digit to secure the wallet.

Step 4: The app will provide you with the recovery seed. Write it down and keep it safe.

Step 5: The app installation process is now complete and you can now start using the Samourai wallet

How to add/receive bitcoins to your Samourai wallet

Step 1: Launch the wallet app and click on the ‘Receive’ tab

Step 2: Copy the wallet address and send it to the party sending you Bitcoins

Step 3: Wait for the Bitcoins to reflect on your app

How to send Bitcoin from your Samourai wallet

Step 1: Launch the wallet and click on the ‘Send’ tab

Step 2: Enter the recipient’s wallet address as well as the number of Bitcoins you want to send

Step 3: Chose the transaction fee level you would like to use in funding the transaction

Step 4: Confirm that the transaction details are correct and hit send

Samourai wallet ease of use

Setting up the Samourai Bitcoin wallet app is quick and straightforward. The wallet can also be considered simplistic and features a highly intuitive user interface. These make it easy to use for both expert and beginner bitcoin traders.

Supported cryptocurrencies

Samourai crypto wallet app is Bitcoin-specific and will only support the legacy cryptocurrency.

Samourai wallet cost and fees

Samourai Bitcoin wallet app is free to download. Further, you wouldn’t be charged to receive or store your bitcoins in the wallet.

Transfers out will, however, be subjected to both the bitcoin blockchain network fee that goes to miners and an additional transaction fee charged by Samourai. It, however, employs the reduce-by-fee protocol to help you customize the wallet transaction fees. This supports three fee levels: AUTO uses the smart fee detection algorithm to determine the best transaction charge. PRIORITY translates to higher fees for faster transaction processing while CUSTOM lets you set your own fee.

Some premium security and privacy features available on the platform are only available on a subscription basis. If you, for instance, wish to use the app’s Ricochet service, you will have to pay an additional $2.50. Similar privacy features like staggered delivery or opening a private payment channel will also attract additional charges. 

Samourai wallet customer support

Samourai has an elaborate FAQ page that addresses all the most common challenges faced by the app users. It also features guides on how to use and interact with the Bitcoin-first wallet app.

More personalized support can, however, be sought via live chat on the Samourai website. You can also contact the Samourai wallet customer support team by messaging them on their different social media platforms, including Twitter, Reddit, and Telegram.

What are the pros and cons of the Samourai Wallet?


  • The Bitcoin wallet app integrates a wide range of both standard and premium security and privacy features
  • Samourai supports anonymous user registration and can also be accessed via VPN or TOR
  • The app is free and supports a dynamic transaction fee processing that allows for the customization of the blockchain network fees
  • Setting up the wallet app is easy and it also features a friendly interface
  • It is now possible to initiate private or offline bitcoin transaction when using Samourai wallet
  • Samourai has a highly responsive customer support team


  • The wallet app will only support the blockchain cryptocurrency
  • Samourai is a hot wallet app and therefore exposed to inherent risks associated with a mobile app
  • The app charges extra fees every time you use premium security and privacy features
  • The app doesn’t have an inbuilt exchange and neither does it integrate third-party exchanges

Verdict: Is Samourai the safest Bitcoin wallet app?

Well, the Samourai bitcoin wallet app has embraced more security and privacy features than most other crypto wallet apps. It, for instance, is one of the few crypto wallet apps that support offline transactions. The app will also help you establish private channels that you can use to send Bitcoins outside the trackable blockchain network.

It also lives true to bitcoins primary goal of anonymity by supporting anonymous wallet use and access via VPN and TOR. These make it one of the most secure and most private bitcoin wallet app. The only downside to using the Samourai wallet app is that it is a hot wallet. 

Crypto Exchanges Cryptocurrencies

Only 19% of Bitcoin’s Supply is Traded 

Only 3.5 million, an equivalent of 19% of Bitcoin’s circulating supply is moved around by traders, while the rest is being HODLed by investors, a new report by blockchain analysis company Chainalysis reveals. Another 20% of the total supply is considered ‘lost’ or in dead-end addresses and lost/forgotten wallets. And, of course, the millions of dollars worth of Bitcoin reserved by Bitcoin’s creator Satoshi Nakamoto.

Blockchain analysis is the art of examining, clustering, and modeling information on blockchains and distributed ledgers. We can draw useful market insights from blockchain analysis and see how cryptocurrencies such as Bitcoin are moving around, and what role various players are occupying in the ecosystem.

That said, let’s look at Chainalysis’s recent report and more of its revelations about the biggest cryptocurrency. First off, as of June 2020, around 18.6 million Bitcoins have been mined. But where is this Bitcoin? The report broke it down into three categories: 

  • About 60% is held by individuals or investor organizations. These entities have never sold more than 25% of their holdings. Chainalysis calls this Bitcoin ‘held for long-term investment.’
  • 20% more hasn’t moved from its current addresses in at least five years, or more. Chainalysis calls this ‘lost’ Bitcoin.
  • The remaining 19% – an equivalent of 3.5 million Bitcoin, is what’s currently being actively traded all over the world.

The company refers to the long-term held Bitcoin as ‘digital gold,’ saying: “The data shows that the majority of Bitcoin is held by those who treat it as digital gold: an asset to be held for the long term.” 

Further, the report established that so far this year, a total of 340,000 people are actively exchanging the currency every week. It identified two types of traders: retail and professional. Retail traders are those who deposit less than $10,000 worth of BTC in exchanges at a time. But these traders (retail) also account for 96% of all BTC inflows to exchanges on a weekly basis.

However, per the report, institutional investors control the biggest share of the crypto market’s liquidity – being responsible for almost 85% of the value in USD of Bitcoin transferred to exchanges. The researchers also believe these institutional investors are largely responsible for the dip in Bitcoin’s value in March 2020, before the COVID-19 crisis intensified in North America. This is because they are responsible for large market moves.

Four Exchanges Are Dominating Bitcoin’s Liquidity

The report also reveals that few exchanges are dominating the currency’s liquidity since 2018. These are the four biggest – Binance, Huobi, Coinbase, and Bitfinex – and they collectively make up nearly 40% of all Bitcoin received by exchanges in 2020. 36% went to the next ten largest exchanges, with the rest of the hundreds of exchanges getting 24%.

The study also looked into the three types of exchanges and how much Bitcoin was flowing through each. Among crypto-to-crypto (C2C), crypto-to-fiat (C2F), and fiat-to-crypto (F2C) exchanges. C2F exchanges accounted for 42% of all BTC moving through exchanges, while C2C made up 18%. The study surmised that C2F exchanges dominate because most new users first purchase crypto in these exchanges. Also, most traders usually trade Bitcoin for fiat in these exchanges. Even traders who prefer C2C exchanges have to cash out through C2F exchanges. 

Crypto Exchanges

Bitmex Vs. Deribit Vs. Bybit: Which one is the Best Crypto-derivative Exchange? 

Cryptocurrency derivatives are an ideal investment option for individuals looking to generate more returns from the crypto market. Although they appeal most to experienced traders, trading derivatives is the less risky alternative to the standard cryptocurrency trading. 

Derivatives are used to hedge against risks or to speculate the price of the underlying asset. Investors are, therefore, protected from price fluctuations since they only buy the asset at the fixed price stipulated in the derivative contract. Additionally, investors don’t have to worry about asset theft/loss as they aren’t required to hold the underlying asset itself. 

Given the intricacies of derivative trading, it’s highly recommended to choose a platform that’s uniquely designed to support this type of crypto trading. That said, Bitmex, Deribit, and Bybit are among the most preferred derivatives trading platforms by investors.

In this comparative guide, we pit them against each other and reviewed their ease of use, security, and liquidity to find out which one gets the job done efficiently:

Platform Stability and User Experience

When choosing a crypto derivatives trading platform, you will want to vet its ease of use and the complexity of its sign-up process. Avoid platforms with a complex user interface as they cam prove intimidating, especially to first time users. 

The sign-up process for the three platforms is rather simple since all you require is a username, password, and country of residence. Bitmex doesn’t, however, process registration requests from residents of such countries as the US, Seychelles, Cuba, Iran, Syria, among others. Of course, the geo-restriction can be bypassed using a strong VPN to hide the IP address. With the other two platforms, Deribit and Bybit, users from anywhere around the world can sign up without any restrictions. 

Bitmex is best operated on its official website thanks to its smart and simple layout. What’s better, users can customize the web layout and change such features as themes, text colors, and integrate different trading tools. The platform, however, has neither developed its own mobile app nor optimized its website for mobile use. Deribit, on the other hand, has a user-friendly mobile app, which is a good compensation for its relatively clunky website. 

Bybit wins on all fronts as far as user-friendliness is concerned. Their desktop user interface is easy to navigate and rarely experiences downtimes, which is a common case with Bitmex. Recently, Bybit released its own app available to both iOs and Android users.  


Liquidity in derivatives trading entails a lot more than just cash flow and the ability to sell options/futures in the shortest time possible. However, this is not to diminish the importance of these two factors. In fact, the two are an integral part of any trading platform since they are an indication of a healthy supply and demand. 

High liquidity for derivatives allows for ultra-tight bid-ask spreads and reduced risk of slippage when executing orders. For the derivatives market to achieve high liquidity, it must have high trading volumes and create room for intense price competition between sellers and buyers.  

Bitmex boasts of higher trading volumes compared to both Deribit and Bybit. In fact, as of this year, the exchange posted higher trading volumes than other top exchanges that process standard cryptocurrency trading. Due to its high liquidity, Bitmex has the tightest spread and least slippage, meaning your orders will always be filled just at the right amount. On top of that, the exchange offers a variety of futures contracts, including BTC futures, ETH futures, ETH perpetual, XRP futures, LTC futures, ADA futures, TRX futures, EOS, and Bitcash futures. This further increases its trading volume,  increasing liquidity. 

Deribit trades an upward of 0.5 billion daily, so its liquidity is relatively high. Perhaps if the exchange offered more trading options than just BTC futures and BTC perpetual, its liquidity would increase substantially. Launched two years ago, Bybit often struggles with liquidity issues. But the team behind this exchange, which comprises of leading crypto trading experts, is continually working to increase the trading volume and liquidity. Moreover, as the exchange gains traction in the market, it’s liquidity is bound to increase over time.


Exchanges often fall victim to cyber hacks resulting in loss of investors’ funds. When choosing an ideal derivatives trading platform, you want one that prioritizes the security of your funds. 

Since it was established in 2014, Bitmex has grown to become one of the largest exchanges in the market. Due to its size, the platform is arguably a more attractive target for hackers. Impressively though, the exchange has never been hacked for the six years the platform has been active, an achievement that can be attributed to its high-level security measures. 

The platform stores investor’s funds and crypto reserves in an offline and multi-signature wallet. About 95% of the funds are stored in a cold wallet to deter theft by cybercriminals. The remaining amount is stored on the platform’s hot wallet to facilitate daily transactions.

Additionally, Bitmex allows users to secure their accounts with the Google-powered two-factor authenticator. 

In its short life, Bybit has managed to meet the industry-standard security protocols. Similar to the other two, Bybit maintains cold wallets where the bulk of the clients’ funds are stored. The rest of the funds are stored in a hot wallet to facilitate daily transactions. A multi-signature system is employed every time the funds are moved between the cold wallet and a hot wallet. 

The three exchanges are arguably at par as far as security is concerned. But Bitmex takes the lead due to its once-per-day withdrawal policy, which reduces the risk of hackers’ interception. 


The fact that the three exchanges are exclusively designed for derivatives trading makes them ideal for any investors looking to get into crypto futures contracts. However, Bitmex has the upper hand, having laid a strong foundation on all fronts since it was established. At the same time, both Deribit and Bybit give Bitmex a good run for its money, an indication that they can be trusted by investors.

Crypto Exchanges

Bittrex Crypto Exchange Review 2020: Is The Exchange Legit Or Another Scam?

Bittrex has time and again been ranked among leading crypto exchange platforms across the world. And some of the factors that keep it ahead of competition include the fact that it embraces advanced technologies in guaranteeing system security as well as the wide range of cryptocurrencies one can trade on this platform. We attribute these to the fact that Bittrex is one of the few exchanges that haven’t lost its client assets to crypto hackers.

They offer three different types of accounts with the highest level (Enhanced account), giving total freedom to the trader. Several other perks come with trading in Bittrex exchange. But how safe are your crypto transactions on this platform? Is the platform even reliable?

With so many options available and stringent regulations that vary from state to state, it is essential to understand the exchange before investing your money. Below is a brief overview of the Bittrex crypto exchange platform, including its features, signup, accounts, pros, fees, and customer support, among others.

What is Bittrex?

Bittrex is one of the oldest exchange platforms founded back in 2014 by former Microsoft employees Richie Lai, Bill Shihara, and Rami Kawach. The exchange is headquartered in Seattle, Washington, but its reach extends well beyond the United States. Ideally, virtually anyone across the world can create a free trader or investor account with Bitmex exchange.

Both traders and investors on the platform are, however, advised to check their local regulations before they begin trading with any crypto exchange platform. Bittrex offers a familiar proposition for experienced traders. They provide various cryptocurrencies you can trade and also supports fiat currencies.

Their custom trading engine seamlessly combines various automated trading features such as GTC (good till canceled), stop loss, and instant sell or buy, among others. The interface also loads very first and is more beginner-friendly than most platforms. You will never experience any lags with this platform.

It, however, does not support margin trading. As such, Bittrex suits the traditional crypto trader looking for a wide variety of cryptos and standard spot trading orders. And you will like it here because the exchange supports over 234 different cryptocoins and doesn’t charge deposit fees.

How does Bittrex work?

Bittrex works like a classic cryptocurrency exchange, so those who have experience trading cryptos will find it quite familiar. The platform presents the trader with both standard technical and charting tools traders needed to manage their accounts. Once you have an account, you can deposit funds and begin trading.  Keeping in mind that the platform supports three types of accounts: unverified, basic, and enhanced.

Unverified accounts

These have various limitations, including a lower cap on the maximum withdrawal you can make (1 Bitcoin per day). When you sign up for Bittrex, you automatically create an unverified account. You will require the 2-factor verification to upgrade to the basic account. However, there are various tools you can use to help you learn more about the platform. Unverified accounts are most appealing to beginners looking to expand their crypto trading skills

Basic accounts

This option offers more tools and access with the possibility to withdraw up to 3 Bitcoin per day. You can upgrade to the basic account once you complete the 2FA verification process. The platform uses a strict verification process and collects more information about their clients. However, this ensures they provide trustworthy coins and keep the exchange secure.

Enhanced account

This is the premium option for prolific crypto exchange traders looking for total freedom. With enhanced accounts, you can withdraw up to 100 Bitcoin per day. In addition to the two-factor verification, enhanced accounts require you to provide a photo of your government-issued ID and a selfie portrait.

Once you have an account, trading is effortless with Bittrex. The platform is known for its sleek user-friendly features and fast-loading interfaces. You can easily access your dashboard, make trades, track your orders, and contact customer support.

Bittrex account registration

Registering for an account with Bittrex is an effortless and straightforward process. All you need is a valid email address and proof that you are 18 years or older. As aforementioned, you can sign up for any of the three account options available depending on your unique requirements. If you seek a robust platform with all the necessary trading tools and features, the enhanced account is more suitable. Conditions are also different for each account.

Unverified accounts are entry-level with minimum requirements. They also have limitations, since the platform has not verified user identity. You will need to complete the two-factor verification and provide your ID and portrait, among other necessary info to get full access to the exchange. As a global service headquartered in Washington, Bittrex allows registrations from anywhere in the world, provided you meet the minimum requirements.

Number of cryptocurrencies supported on Bittrex

As one of the older exchange platforms, Bittrex was initially designed to support Bitcoin. However, the exchange has since expanded to accommodate over 400 altcoins you can trade against Bitcoin, Ethereum, US dollar, and Tether (USDT). The platform also supports FIAT, although deposits are made using the cryptocurrency wire transfers.

Bittrex is known for its transparency when it comes to listing up and coming altcoins thanks to its strict source code vetting process. Plus, they also remove inactive coins from their listing to improve the overall quality of their offers. Currently, the only FIAT supported is the USD.

How to trade on Bittrex?

Bittrex offers an effortless way to trade cryptocurrency and manage your digital assets. Once you have signed up for an account and made a wire transfer deposit, you can start analyzing cryptos and making trades. There are various tools and features available from your dashboard to help you pick an option. Bittrex allows investors to buy, sell, or trade cryptos against other coins. You can also use automation features to stop you from generating losses past a preset limit. The platform also has charting tools you can use to track and analyze your trade.

Bittrex trading fees and charges

When it comes to trading fees, Bittrex commissions are slightly higher than the industry average. The platform charges a flat commission of 0.25% on all trades, which can translate into a lot, especially if you are making larger transactions. They do not have any high-volume trades, rebates, or incentives for markers and traders.

There are no fees charged for deposits and withdrawals. However, each coin has its unique transfer fee built into the trade. There are no hidden fees in the system, and the high margins are justified by the platform’s sleekness and premium status. Bittrex offers a decent opportunity to trade numerous cryptos and make a profit.

Deposit and withdrawal

Bittrex does not charge anything for deposits and withdrawals. There, however, is a cap on how much you can withdraw, depending on your type of account. The platform also has no support for direct purchases of crypto using credit, debit, or ACH bank accounts. Nonetheless, identity-verified customers operating outside the US are eligible for USD currency deposits and withdrawals.

About 40 US states, including Alaska, Alabama, California, Indiana, Georgia, Florida, Ohio, Texas, Washington, Michigan, and New Jersey, among others, also have access to this feature. However, you must first add Bitcoin to your e-wallet before you can start purchasing other coins.

Security and digital asset protection

Bittrex is known for its emphasis on all matters of safety. Their platform is one of the safest you will come across in the crypto world, and they use a strict verification process to ensure users are real and safe. The platform also scrutinizes all coin listings and has various security measures to fix all vulnerabilities. The founders of the platform are former security experts with over 40 years of combined experience.

This platform has never been hacked, and there are no cases of any insecurity, which is very impressive considering Bittrex has been around since 2013. Their elastic multi-stage wallet strategy also keeps 80%-90% of user funds in offline cold wallets. Withdrawals require 2-factor verification and API calls, making the platform impossible to breach.

Registration and regulation

Bittrex is a legitimate cryptocurrency exchange company headquartered in Seattle, Washington. While the service is not regulated under the US Securities laws, it abides by all compliance requirements in the places it is available. The company is also not FDIC insured, which presents a significant level of concern should the company go down. Nonetheless, it has been around for a while and boasts a large community of users.

Bittrex customer support

Bittrex offers 24/7 customer support with multiple communication channels. However, as a large platform with numerous users, their customer support is relatively weak compared to most alternatives. Several reviewers have also reported cases of unwarranted suspension pf trader accounts as well as Bittrex taking too long to reply to customer issues. This can be frustrating, but you eventually get a response from the team. 

Bittrex maintains that only 0.1% of its user accounts suffer suspensions and outright bans. Their low-tier requirements also make it appealing for the un-banked global population. But you are advised to first check your local laws on Crypto transactions before investing your money here.

Everything else you need to know about Bittrex

Bittrex is among the leading crypto exchange platforms with low minimum requirements and a sleek feature-rich platform. You can easily create an account, load your wallet, and make trade orders. Managing and monitoring the account is also not as daunting as with other platforms.

However, trading crypto involves a considerable amount of risk. The main benefit of Bittrex compared to alternatives like Binance is verified account owners can access USD deposits and withdrawals. Other than that, Bittrex offers the conventional exchange experience for anyone seeking robust platforms with all popular options.

Verdict: Is it safe to trade on Bittrex?

Other than the reported issues with customer service, Bittrex offers everything necessary to begin trading cryptocurrency. Registration is effortless, and there are several technologically advanced tools and features to help you complete trades. They have also invested in security and as evidenced by their exhaustive verification process. While the site is designed to be beginner-friendly, it has various elements that make it attractive for all kinds of crypto traders. It is also a legal business that boasts of close to five years of experience in the crypto exchange industry.

Crypto Exchanges

Poloniex Review 2020: A Safe Crypto Exchange Or Scam?

Poloniex crypto exchange started in 2014, and by 2016, it was one of the most popular and preferred bitcoin exchange. What happened after 2016 that saw the crypto exchange fall off the leader’s post into near-oblivion? More importantly, can we really trust Poloniex crypto exchange with our crypto assets and personal information?

To answer this and more questions regarding the effectiveness of Poloniex, we have come up with the Poloniex crypto exchange review. Here, we will be looking at all things Poloniex, from its mode of operation, trading fees, level of customer support, and everything in between.

We will also look at the amount of customer data the company collects and how it protects it to see if it has learned anything from its March 2014 hack that saw them lose 12.3% of Bitcoin held in their reserves. We will also be looking at its new Parent company – Circle – and the effectiveness of the strategies it is using to help Poloniex regain its market leader position.

We start by gaining a deeper understating of the crypto exchange.

What is Poloniex?

Poloniex is an unregulated crypto-to-crypto exchange that started in 2014. It remains one of the few unregulated exchanges operating in the United States and maintains its headquarters in Boston. Unlike most other-fiat to-crypto and crypto-to-crypto exchanges operating in the U.S, Poloniex doesn’t bar membership from international clients. Today, Poloniex is ranked among the top 100 exchanges in the world – a major fall from the top 10 list back in 2016 – with an estimated market capitalization of $14 million.

At the height of its crypto exchange market dominance, Poloniex was considered the most liquid platform. History even has it that it was the first crypto exchange to post more than $1 billion in daily trading volumes. And while it may have fallen short of the crypto market’s favor, Poloniex is still widely respected for its innovativeness. And all these explain why it attracted the interest of Circle – a Goldman Sachs owned social payment services provider – that acquired it early 2018.

Since its acquisition, Circle has initiated a raft of measures within the crypto exchange – all of which are aimed at helping restore the exchange to its former glory. These include adding a card and bank transfers to its deposit and withdrawal processing methods. Circle is also bending Poloniex towards compliance with different regulations as it hopes to make it the first fully regulated crypto exchange in the United States. This, according to Circle, would help give it more credibility, especially after the launch of a Poloniex based over the counter (OTC) platform that facilitates crypto trading and payments for hedge funds and big banks.

How does Poloniex crypto exchange work?

Poloniex is a pure crypto-to-crypto exchange where you can buy and sell different cryptocurrencies. Unlike most crypto-to-crypto exchanges, however, that will only accept crypto deposits, Poloniex makes it possible for their clients to make credit card and bank wire deposits. Once the fiat currency hits the Poloniex account, it converted into either the USDC or USDT stable coins. This helps the exchange maintain its integrity as a pure crypto-to-crypto exchange without locking out first-time crypto traders.

In addition to trading existing cryptocurrencies, Ploniex allows for the listing of new coins and tokens on its platform via Circle Invest and Circle Trade exchanges. Ideally, any verified Circle-Poloniex platform user can apply to list their tokens on the exchange.

Setting up a Poloniex trader account

We find it interesting that despite being a U.S based crypto exchange, Poloniex is still open to memberships from 100+ countries across the world. This implies that virtually anyone except China, Germany, and Pakistan residents can register on the platform. New York, New Hampshire, and Washington State residents are also barred from accessing Poloniex because the crypto exchange is yet to comply with the BitLicense regulations passed in these three states.

You will also want to note that despite being a crypto-to-crypto exchange, Poloniex doesn’t allow for anonymous trading. You will thus be required to verify your account by uploading identification documents, proof of address, and a selfie before you can deposit or transact on this platform.

Cryptocurrencies supported on Poloniex

Once you register and verify your identity on Poloniex, you will have access to 60+ cryptocurrencies and over 100 crypto trading pairs. These supported cryptocurrencies include all the popular cryptocurrencies like Bitcoin, Ethereum, and Monero against which most other altcoins and tokens are priced. There also are stable coins USDT and USDC.

We believe that the inclusion of the stable coins on this platform is advantageous to both the first time and expert traders in two primary ways. First, it helps attract newbies and by making it possible for them to make fiat currency deposits that are automatically converted into stable coins for use within the platform.

Secondly, they come in handy during periods of high market volatility. If you don’t wish to trade the highly volatile markets or simply aren’t sure of the trade decision you want to take, you only have to convert your assets to stable coins and wait for the best market entry point.

How to trade on Poloniex

We were especially drawn to Poloniex exchange’s well laid out and easy to use dashboard. Predominantly featured on this page are the price chart and graphical representation of the price history while on the right hand of the screen is the real-time market price of different coins. The buy and sell boxes are featured at the bottom of the page.

You will also have access to the exchange’s market order book that lists the selling and buying prices of different crypto coins. You will, therefore, have the option of trading at the prevailing market price or investing in the long term or short term through the limit order trading tool.

Poloniex exchange trading costs

Poloniex crypto exchange maintains some of the most affordable trading fees and commissions. The exchange maintains a graduated fee structure for different transactions based on traded volumes. Maker (buyer) fees start from 0.15% for orders below $25,000 and decrease gradually to zero fees for orders above $20 million. Taker (Seller) fees, on the other hand, start from 0.25% for orders below $25,000 and decline gradually to 0.10% for orders exceeding $20 million. Lenders will also be charged 15% on any interest accrued.

Deposits and withdrawals

For the longest time, traders and investors on Poloniex could only deposit and withdraw cryptocurrencies from the fund. The exchange has, however, added both credit card and bank wire transfers on to the list of deposit and withdrawal processing methods. Your deposits will, however, be automatically converted into either USDC OR USDT stable coins during the cash transfer while your stable coin withdrawals are automatically converted to your preferred fiat currency before hitting your bank account.

There are no deposit fees for both crypto and fiat deposit. Withdrawals will, however, vary from one cryptocurrency to another and the volume of the transactions.

Security and digital assets protection on Poloniex exchange

2FA and Email verification:

At Poloniex, crypto exchange, security starts on the signup page. Here, you are required to activate the two-factor authentication (2FA) by downloading the Authy or Google Authenticator apps. And in addition to these, you will also have email confirmations for new and suspicious trader account logins.

Cold storage:

You might want to note that Poloniex, unlike most other crypto exchange companies, doesn’t provide its clients with free crypto wallets. However, the exchange claims that all the client funds held in the trader accounts are securely held in cold storage with just a fraction of these funds available to facilitate the exchange’s day-to-day operations.


Poloniex also claims to have all their customer deposits invested with the FDIC for up to $250,000 per user. The need for insurance and all these other security measures seems to stem from the fact that Poloniex has already suffered one major hack that saw it lose more than 12% of its client Bitcoin deposits.

Registration and regulation

Poloniex is an unregulated pure crypto-to-crypto trader. Its parent company, Circle, is, however, heavily regulated both in the United States and in the United Kingdom. And while Circle has made public its intention of making Poloniex the first regulated crypto exchange in the United States, it is yet to embrace the different federal and state-based virtual currently regulations in place today, especially the BitLicense that originated in New York.

Poloniex customer support:

Poloniex crypto exchange’s dedication to quality customer support starts with a multilingual website that is currently available in five languages. You can also access the customer support team by raising a ticket on their website or directly via their twitter and Telegram handles.

We take fault in the Poloniex crypto exchange’s lack of an elaborate FAQ section that means that even the most basic customer queries have to be resolved via a customer care ticket. We also are disappointed by the fact that, despite their adoption of advanced technologies and innovativeness claims, the exchange doesn’t have a live chat option.

Everything else you need to know about Poloniex crypto exchange

Mobile apps:

Poloniex crypto exchange recently launched an app-based crypto trading platform that is available on both the Android and iOS versions. This is a mirror of the desktop trading app as it has all the trading features needed to execute a crypto trade.

Poloni DEX:

Poloniex is gradually edging towards decentralization and recently launched Poloni DEX for ICO. On this platform, Poloniex clients can request to have their tokens for different blockchain projects listed. One of the most significant tokens listed on Poloni DEX is ATOMS token for the COSMOS project that seeks to bridge the gap between different blockchains by encouraging interoperability.

Crypto lending:

Poloniex crypto exchange’s innovativeness manifest in its industry’s first lending platform. This makes it possible for Poloniex traders to lend their crypto assets to other traders who promise to refund the advanced coins and a predetermined interest.

Verdict: Is Poloniex crypto exchange a scam?

In this Poloniex crypto exchange review, you have seen that the platform can be a lot of things. It is a pioneer when it comes to innovativeness in the crypto space, as evidenced by the Poloni DEX, mobile trading app, and lending option. We, however, consider its customer support as inefficient, as evidenced by the long wait time when it comes to responding to client queries and lack of a live support feature. It may have fallen victim to the acts of cybercriminals and lost customer funds in the past, but it seems to have learned a lesson and strengthened their systems by embracing cold storage, 2FA, and such other browser-based security features as IP address whitelisting.

Crypto Exchanges

Coinbase: Is It Safe To Buy and Store Cryptocurrencies On This Exchange?

Coinbase, the American based crypto exchange, describes itself as the “easiest place to buy, sell, and manage your cryptocurrency portfolio.” While relying on some of its string features like insurance backed deposits, strong regulation by the SEC, and secure storage that has shielded it from hackers since establishment, Coinbase refers to itself as “the most trusted cryptocurrency platform.”

But how accurate are these claims, and is it really safe to buy and store your cryptocurrencies on the Coinbase exchange and wallet? We answer this and more questions about this exchange in this comprehensive Coinbase review. Here, we will try to bring to light everything you need to know about this major crypto exchange, its Coinbase wallet, and the security of its platform and mobile apps.

We start by gaining a little background information about the company

What is Coinbase?

Coinbase is a San Francisco based crypto exchange and one of the oldest – having started in 2012. Today, Coinbase is available in 100+ countries across the world and boasts of one of the broadest customer base. It is a hybrid exchange that supports both crypto-to-crypto as well as fiat to crypto transactions.

It also comes off as one of the most regulated crypto exchanges and one of the handful that’s licensed to operate in the United States. For the longest time, Coinbase concentrated on the U.S and the European markets. But, it has since opened itself up to the international market with the separation of Coinbase and Coinbase Pro. Ideally, Coinbase is a brokerage exchange where crypto traders interact with the Coinbase brokerage firm. Whereas, Coinbase Pro is specially conceived for the advanced traders who want to interact with the international crypto market directly.

Because of the highly regulated nature of the U.S crypto industry, Coinbase doesn’t allow for anonymous crypto trading. You, therefore, will be required to verify your user identity before you can make a deposit and initiate a transaction on Coinbase. Verification here involves supplying the crypto exchange with a copy of your government-issued identification document, proof of address, and a selfie.

How does Coinbase work?

To understand how Coinbase works, we first need to gain a deeper understanding of the two Coinbase exchanges


As I mentioned earlier, Coinbase is more of a brokerage. This means that when buying and selling on Coinbase, unlike in any other exchange, you will not be dealing with the international crypto market and the prevailing market rates. You will instead be selling to and buying from the Coinbase Company, whose trading prices try to mirror the real crypto market rates.

One of the upsides to this is that even the smallest or biggest gets filled near instantly. This is especially important for institutions and high volume investors who don’t wish to engage in multiple transactions to have their orders filled. The biggest downside, on the other hand, is that the company, and not the open crypto market, has near-absolute control over both the buying and selling prices.

Coinbase Pro:

According to Coinbase, Coinbase pro was established to help cater to the needs of advanced crypto traders. Coinbase Pro is, therefore, a true crypto exchange that grants its traders total access to the crypto markets. You, therefore, are free to set your buying and selling prices on the Coinbase pro order book or complete your transaction using the prevailing market rates.

The main benefit of trading on Coinbase Pro is the fact that you get to interact with the markets directly and buy or sell using the real market prices and not those set by a brokerage. Coinbase Pro, on the other hand, isn’t favorable to high volume traders who would have to rely on multiple transactions to fill their single order. This exposes them to the risk of price volatility where prices spike in between the order.

Coinbase account registration

With the creation of Coinbase pro, the crypto exchange expanded its global reach from 30 to 100+ countries. Note, however, that the main Coinbase platform is still biased towards North America, Europe, and a few Latin countries. While international clients can open an account there, the much they can do with the main exchange is to exchange currencies. This is based on the fact that the exchange doesn’t support card and bank transfers from the rest of the world.

The registration process on this exchange is nonetheless relatively straightforward. The only difference from the registration process on other exchanges is the fact that it requires you to first verify your Coinbase and most other crypto accounts before making a deposit.

Number of cryptocurrencies supported on Coinbase

Another notable Coinbase feature that sets it apart from most other crypto exchanges is its conservative approach to cryptocurrencies. We note that while the rest of the industry players are welcoming to virtually every credible cryptocoin out there, the main Coinbase platform will only support 17 cryptocurrencies. Coinbase Pro adds eight more cryptos to this list to feature 25 cryptocurrencies that are tradable on its platform.

How to trade on Coinbase

To buy or sell cryptocurrencies on Coinbase and Coinbase Pro, you will first need to create a user account. Then start the verification process by confirming your phone number. You will then be directed to the identity verification page that requests you to upload such details as your identification documents, proof of address, and selfie.

Proceed to set up your preferred payment processing method from the choice of bank transfers, credit cards, Swift accounts, and even PayPal. Note, however, that PayPal is only available for withdrawals and not account deposits. Confirm the payment method, after which you are well on your way to making your first sale or purchase.

Coinbase trading fees and charges

Coinbase has one of the most complex trading fees and commissions structures we have come across. Here, trading fees are a mix of variable and fixed rates that will also depend on your preferred payment processing method and the transaction amounts. For instance, the buy and sell orders of amounts below $200 attract a fixed fee. Orders below $10 have a fixed fee of $0.99, while those between $50 and $200 are charged a maximum of $2.99.

Transactions above $200 are charged a fixed percentage that varies from one payment method to another. If you already have enough deposits in your Coinbase account to fund your crypto purchases, you will be charged 1.49%. Debit and credit card funded transactions are, however, higher at 4.99% the transaction amounts. We consider this way expensive in an industry where its competitors like Binance charge a mere 0.1% of the transaction amounts.

Deposit and withdrawal

Deposit and withdrawal methods supported by the crypto exchange include bank wire transfer, PayPal, credit, and debit cards. You will, however, do well to remember that PayPal will only support withdrawals from Coinbase and not deposits.

Additionally, credit and Debit cards can only be used to make direct purchases and not to load cash that sits idly on your Coinbase trader account. Bank Wire deposits in the UK are free while withdrawals cost £1. In the U.S, bank wire deposits and withdrawals cost $10 and $20, respectively.

Security and digital asset protection:

Granted, Coinbase has put in place some of the most formidable security and crypto assets protection measures we have come across. These include:

Two-Factor Authentication and IP whitelisting:

The foremost security safeguard employed by Coinbase is a must-have 2FA feature for all accounts. Additionally, the company embraces IP and Device whitelisting requiring new additional verification every time you log into your account from a new device or IP address.

Coinbase wallet and cold storage:

Each Coinbase and Coinbase Pro trader account comes with a free Coinbase wallet. The company goes on to claim that as much as 98% of the cryptos in these wallets are kept in cold storage while the easily accessible 2% is used to fund the exchange’s day-to-day operations.

Coinbase Vault:

The Coinbase wallet has an additional security feature dubbed the Vault. This requires you to set up a 48-hour lock-up for large balance transactions. This ensures that should anyone gain illegitimate access to your account and initiate a large balance transfer, you will have 48 hours to review and cancel the transaction before the balances leave your account.

FDIC insurance:

In an industry first, all your deposits with Coinbase are insured with the Federal Deposit Insurance Corporation (FDIC). This implies that should the company go down, you will be indemnified for deposits of up to $250,000.

Registration and regulation

Coinbase and Coinbase Pro are highly regulated and licensed by key American finance industry regulatory agencies like the SEC and Fin CEN. We, therefore, consider it one of the highly regulated crypto exchange companies in the world.

Coinbase customer support

Coinbase maintains a highly responsive and readily accessible customer support team. You can get in touch with one of their representatives via email, live chat, on social media, and even on the phone – that’s toll-free for U.S and UK Coinbase clients.

Everything else you need to know about Coinbase

Launched USDC stable coin:

Coinbase recently participated in the development and launch of the USDC stable coin. The token developed on the Ethereum blockchain will, according to Coinbase, always be valued $1 and backed by hard cash deposits into a US bank.

Launched crypto custody for institutions:

While relying on its rich history of securing client deposits and being one of the handful exchanges that have never been hacked, Coinbase launched the crypto custody for institutions. This is a standalone business operating outside the exchange that provides institutions with a safe keep for their crypto assets. It is highly secured and has the backing of a world-leading insurance policy.

Verdict: Is it safe to buy and sell on Coinbase?

We all have to agree that Coinbase has put in place more hardy security measures around their company and their client’s deposits than any other crypto exchange. From two-factor authentication to cold storages and crypto vaults. And with the integrity of these features is also regularly tested by different independent third parties, Coinbase isn’t leaving anything to chance. 

We also are alive to the fact that the company is adequately regulated by some of the most stringent financial regulatory agencies in the world and has the backing of the FDIC. And this informs our verdict that it is safe to buy and store cryptocurrencies on this exchange.


Crypto Exchanges

Binance Exchange Review: Is it legit?

Is Binance crypto exchange an industry leader or just another hoax? Well, launched in China but expelled during the Chinese Crypto ban and forced to find a new home overseas, Binance has gone on to become one of the most popular crypto exchanges today. This popularity can largely be attributed to the impressive number of cryptos supported here, professionalism in customer support, low trading fees, and a friendly CEO – CZ.

But does Binance has a valid claim to the global crypto leaders post? Read on as we look at its contributions to the industry and everything else you need to know about this crypto exchange.

What is Binance?

Binance is a cryptocurrency exchange founded by Changpeng Zhao (CZ) in China in late 2017 before moving it to Europe’s Malta in 2018. Initially, Binance was a crypto-to-crypto exchange but has since started accepting fiat credit card and bank deposits. And during its less than two years of operation, Binance has become synonymous with highly competitive trading fees, most innovative exchange platform features, championing futuristic crypto policies, and spearheading charitable projects. Its strategic position in Malta outside the strict E.U and U.S. markets makes it a favorite for the rest of the world.

How does Binance work?

First off, Binance is a crypto exchange that allows you to buy, sell, and trade both the leading and other micro digital currencies. Their exchange is available in both the basic and advanced views ideal for both beginner and expert traders, respectively. On either trading chart view, you are exposed to 450+ crypto trading pairs with most of these priced against Bitcoin, Ethereum, and the crypto exchange’s native coin – Binance coin.

In addition to this, Binance trading exchange charts promise some of the most comprehensive as both basic and advanced views capture all the important details needed to push a trade on one page. From trading charts and price graphs to a coin’s trade history and latest prices in the order book to the buy/sell boxes.

How to set up a Binance account

Another of Binance’s endearing features is that it is easy to join and draws its membership from virtually every corner of the world. We found the account creation process on Binance quite straightforward whereupon admission you become tier 1 trader. Here, you can transact and withdraw up to 2BTC per day anonymously.

You will, however, need to pass the company’s KYC and AML policies if you wish to expand your transactional and withdrawal limit to 100 BTC per day as a tier 2 trader. This requires that you send the company a copy of your government-issued identification document and proof of address. Interestingly, there also exist higher levels that allow for even higher trade limits, but you will need to contact the company directly for that.

What cryptocurrencies does Binance support?

The Binance website claims that its exchange supports 150+ cryptocurrencies. But taking into account both the popular currencies and micro tokens launched daily on their Initial Exchange Offering (IEO) platform, we estimate that the exchange supports 300+ tradeable crypto coins, tokens, and stable coins.

How to trade on Binance

Based on our experience on both the basic and advanced versions of Binance crypto exchange, we can comfortably say that you don’t need special skills to trade on the platform. Not when it has one of the most straightforward buy/sell processes. On their website, you will find the exchange tab that provides you with the option to trade on the Basic or Advanced platforms.

Choose basic (it is simpler), and on its left-hand side of the screen, you will have the order book with your preferred coin’s list price and the buy/sell order prices. You can then select or search for the coin you wish to trade on the right-hand side of the screen and use the buy/sell boxes on the bottom center to complete the transaction.

Binance trading fees

Binance will not impose any additional charges or fees on your deposits. You, however, will be charged an average of 0.1% of the transaction volume to trade on their platform. But this trading fee is slashed by 25% if you chose to pay via the native Binance coins. And this essentially makes it the most affordable crypto exchange we have come across so far and probably the secret behind their $2 billion transaction volumes. 

Binance further maintains highly competitive withdrawal charges for different cryptos. Bitcoin and Ethereum withdrawals are, for instance, charged 0.0005 and 0.005, respectively.

Deposit and withdrawal

You will also be interested to note that there are no transfer limits into your Binance account for both anonymous and verified traders. There, however, is a limit as to how much you can withdrawal without verifying your trader account – currently set at 2BTC per day. The company is nonetheless open to both individual and corporate traders and therefore maintains a discretionally daily withdrawal limit that you can always agree on with the Binance management.

Supported payment processing methods

For the longest time, Binance was pure crypto to crypto exchange, implying that you could only deposit and withdraw into your crypto wallet. It, however, is gradually welcoming fiat to crypto transactions and also started processing fiat deposits. At the time of writing this Binance review, however, the exchange will only accept cards (both Visa and MasterCard’s) and bank transfers only. Binance card transactions support swift transfers where cash takes 10-30 minutes to reflect in your binance trader account plus has the lowest processing fees of $10 or 3.5% per transaction – whichever is higher.

Note, however, that the fiat deposits transactions are also limited to traders from specific regions, especially the UK and the larger European Union. Additionally, the platform will only accept USD and EUR currencies meaning that you will incur currency conversion fees for individuals holding other global currencies.

Security and digital asset protection

Binance maintains an online crypto wallet (Trust Wallet) that’s given freely alongside your trader account. You are free to choose between storing your digital assets here or transfer them to any other crypto wallet address. According to Binance, the larger percentage of the digital coins with Binance are held in cold storage, with only a few maintained in online lenders to facilitate the exchanges day-to-day operations.

Despite these cold room claims, however, Binance suffered their first and only successful hacking where someone withdrew over $40 million worth of cryptocurrencies from the exchange in May 2019. The hacker, according to Binance, succeeded with the heist by manipulating key user information like API keys used by bots and managers. The exchange, however, promised to cover the loss and reimburse users using their reserve funds.

Registration and regulation

Binance cryptocurrency exchange is regulated in Malta and operates under the country’s Virtual Financial Assets (VFA) policies. Unlike most other exchanges registered and regulated in two or more countries and under the scrutiny of several financial conduct authorities, Binance is not licensed by any other regulatory body.

Binance customer support

Binance has one of the most active and highly responsive customer support team we have come across in the crypto space. And it all starts with their multi-lingual website that supports up to 16 languages. Their customer support team is accessible 24/7 via email, live chat on the website, and all popular social media pages like Telegram, Twitter, Facebook, and Instagram.

Everything else you need to know about Binance:

Launched Blockchain academy:

In an industry first, the Malta-based crypto exchange company recently launched the Binance academy that it says brings “The World Of Blockchain” to your fingertips. It is ideally supposed to help introduce most individuals to the crypto world by teaching them about cryptocurrency and blockchain for free. This academy covers everything from basic blockchain and crypto terms to emerging trends and tutorials on different blockchain-related topics.

Binance Launchpad:

Binance refers to their Launchpad as “a token launch platform for transformative projects.” It ideally is a modern form of initial coin offering where different blockchain projects launch their tokens. Unlike traditional ICOs that were largely unregulated, projects on Launchpad have to apply for listing, after which they are vetted for such traits as transparency, security, reliability, sustainability, and the professionalism of its developers. This has gone a long way in curbing the runaway scams plaguing the crypto industry.

Margin trading:

Binance crypto exchange is also a margin trading champion and an industry leader in advocating for leveraged crypto trades. Crypto traders on Binance can, therefore, margin trade different crypto assets with leverages of up to 20X.

Binance DEX:

Binance has also been a front-runner in championing decentralized exchanges (DEX). This involves setting up several satellite exchanges around the world that complement the primary Binance exchange in a bid to improve efficiency. In actualizing the DEX, Binance has already come up with Binace Jersey and Binance Uganda – two independent crypto exchange outposts of Binance. It should also be noted that it is through these DEX that Binance has introduced fiat to crypto transactions.

Verdict: Is Binance legit?

Despite joining the crypto exchange industry relatively late, Binance has gone to become one of the most popular exchanges. This is evidenced by its massive following and significantly high daily transaction volumes posted on the exchange – averaging $2 billion daily. And a few factors endear it to the crypto world. Key among this is its straightforward signup trading processes, its support for anonymous trading for low-volume crypto traders, and pursuance of the lowest trading fees in the industry.

These plus the innovativeness that has seen it welcome more crypto trading pairs on board and come up with transformational tools like decentralized exchanges (DEX) and Binance Launchpad, and these plus the fact that it is licensed and regulated in Malta don’t just prove its legitimacy but also go a long way in establishing affirming its market leaders position.


Crypto Exchanges

BitMex Crypto Exchange Review 2020: Is BitMex Legit or Scam?

When looking for cryptocurrency exchange platforms, BitMex is one of the first names you will come across. Also known as Bitcoin mercantile Exchange, this platform boasts of “industry-leading security,” offers 100X leverage, and has no expiry dates for trading. They are also one of the handful of exchanges yet to lose any Bitcoin through hacking and fraud.

Thanks to its robust security and advanced APIs, BitMex has established itself as one of the most reliable exchanges for seasoned crypto traders. But how true are these claims? More importantly, is it safe to trade crypto through BitMex?

In this guide, we take a broad perspective into BitMex, including their exchange platform features, mobile platform, registration, trading, leverage, margin levels, and everything else you need to know before you start trading with the exchange. First, let’s take a brief look at the platform’s background.

What is BitMex?

BitMex was established back in 2014 by HDR Global Trading Limited, which was found by former banking experts Arthur Hayes, Samuel Reed, and Ben Delo. Since its inception, BitMex has morphed into one of the most significant platforms for trading Bitcoin. The Seychelles-based exchange offers a non-conventional crypto trading p platform in that you do not deal with actual cryptocurrencies.

In their stead, investors get to margin trade cryptocurrencies CFDs. Here, you can leverage your trades up to 100 times. However, because of the stringent crypto trading rules in the US, BitMex is not open to US-based traders. The upside of using the Bitmex Platform and its and its margin trading features is that it allows you to make large profits from relatively small investments.

The downside to these leveraged trades nevertheless is the fact that you can quickly lose everything in a relatively short time. BitMex suits traders that know what they are doing. Registration is also straightforward with signup only requiring a valid email address, proof that you are at least 18 years of age.

How does BitMex work?

BitMex offers a derivative crypto trading platform, meaning you will not directly trade the cryptocurrency. To understand how the platform works, we need to review the available contracts:

Futures contract

This is an agreement to buy or sell cryptocurrency at a specified date in the future. The contract also has a predetermined price.

Perpetual contracts

Perpetual contracts are relatively similar to the traditional future agreements. However, there is no expiry date with such agreements.

Upside profit contracts

This contract allows you to participate in the potential upside of a cryptocurrency. You pay a premium on a trade date, which you will receive the profit if the crypto price goes up. Otherwise, no payment occurs.

Downside profit contracts

This is the opposite of upside profit contracts as you get paid if the crypto’s price falls.

The BitMex exchange platform offers various functionalities and widgets you can use to manage your orders and change your viewing preferences. It also allows charting, with the TradingView feature that provides better visibility than virtually all exchanges. Once you make an order, you can view, track, and manage it through Active Orders. BitMex platform is solely available for desktop use, which is understandable considering its complicated interface.

You can trade contracts for different types of cryptocurrencies against other FIAT currencies, including the Japanese Yen, US Dollar, and Chinese Yuan. However, all deposits are to be made using Bitcoin, which also the currency used to represent your profits and losses even when trading altcoins. Once you have loaded your e-wallet, you can then use Bitcoin to purchase other cryptos.

BitMex account registration

BitMex, like many other crypto exchange platforms, has a straightforward registration process. Provided you are 18 years and above and have a valid email address, you can create a free account. BitMex offers two separate accounts: the live trading option – which is available to experienced traders – and a demo account (BitMex Testnet) – a sandbox version of the live trading account – that allows you to try the platform without going live.

Testnet demo account is ideal if you want to learn more about how the exchange works before you begin trading real currency. BitMex is registered in the Republic of Seychelles and offers a global service accessible to everyone who meets their minimum requirements. However, the service is not available in some places, including the USA, Quebec Province (Canada), Crimea, Cuba, Iran, Syria, Sudan, and North Korea. The site does not limit location, but your local laws may affect how you use BitMex services. 

Number of cryptocurrencies supported on BitMex

BitMex was founded to give priority to Bitcoin, which was the only trusted cryptocurrency back in 2014. To date, all deposits and withdrawals are only available in Bitcoin. However, the platform supports several other cryptos and FIAT currencies.

This includes Bitcoin and Bitcoin Cash, Ethereum and Ethereum Classic, Dash, Tron, Cardano, Litecoin, Monero, Ripple, Zcash, and Tezos. Bitcoin trades allow both spot and futures trading options. Other cryptocurrencies only provide futures. BitMex focuses on these few options to suit traders looking for highly specific niche platforms that offer leverage on trade. 

How to trade on BitMex?

Trading with BitMex is quite effortless once you get the hand of their unique interface. You first need to sign up for an account and make deposits. The minimum deposit you can make is 0.0001BT. There are no other limits on the maximum you can deposit or withdraw. Once you have loaded your account, you can use the dashboard to find the contracts that match your investment needs. There are various features to help you make an order and manage your trades. 

BitMex trading fees and charges

BitMex offers some of the most competitive trading fees in the market, considering the chunky profits you can make as a seasoned crypto investor. With a -0.025% marker fee, you can quickly grab little rebates. The taker fee is 0.075%, while the settlement fee is 0.05%.

There are no other fees charged in the platform, apart from the regular Bitcoin network fees calculated from the blockchain load. It is one of the benefits of using this platform compared to others where fees can go as high as 0.25%. Fees for Bitcoin are slightly different from other cryptocurrencies. They charge 1% for the initial margin and 0.5% for maintenance. 

Deposit and withdrawal

Deposits and withdrawals are free of charge. You deposit from as low as 0.001 BTC, and there are no other limits. Withdrawals are also pretty fast and available 24 hours a day. What’s more, withdrawals are processed in person at a specific time, which adds an extra layer of security.

You can only make deposits or withdrawals in Bitcoin. Your account balances are also reported in Bitcoin, but you can leverage trades in several cryptocurrencies mentioned above. Unfortunately, BitMex does not allow bank transfers and credit cards.

Security and digital asset protection

BitMex characterizes an exceptional level of security and asset protection with its in-house hand-checked withdrawal system. They also use the underlying index price (not final price) to calculate their margins, making it impossible for frauds to manipulate order books or cause liquidation. They are yet to suffer any hacks or losses since inception.

bitMex partners with Amazon Web Services provide two-factor authentication and trading engine security that can shut down the system whenever the deposit address and private keys don’t match. The platform’s credibility is further guaranteed by the fact that BitMex is an insured exchange that protects your investment even if the site goes down. What’s more, the platform was developed using kdb+, the coding language used by the world’s biggest banks.

Registration and regulation

BitMex is a legal exchange owned by HDR Global Trading Limited, a company that was incorporated under the International Business Company Act of 1994. It is a legit crypto exchange platform that operates under the stringent regulations of existing laws. The service is global but adapts to the unique rules in different places, so you should always review your local laws to know what you can achieve. Since the system has no comprehensive verification process to prove location, it is easy to sign up from anywhere.

BitMex customer support

BitMex uses a standard industry customer support offered through an email ticket. Their site is also packed with resourceful information and an announcement box. There also are a lot of live updates going on in the platform, including a live stream of trader chats. A dedicated support desk answers to your urgent inquiries 24/7 so you are always in good hands. Various exchanges offer better customer support, but you should be able to find any help you seek. 

Everything else you need to know about BitMex

BitMex is the most reputable platform offering margin trading options. You can set your desired leverages manually or automatically using the Leverage Slider. Plus, you can also cancel orders at will or choose an iceberg and fill or kill orders.

If you are looking for an easy to use exchange for margin trading, BitMex is definitely one of the best options. Here, you gain access to the leverages as soon as you are done with account creation. Plus, BitMex allows traders to interact with each other via live chat. Not to mention that there are several widgets and tools to help you manage and visualize your trades. 

Verdict: Is it safe to trade on BitMex?

BitMex is probably one of the best crypto exchange platforms for those seeking margin trading options. The company has invested a lot towards security and focuses on satisfying a unique niche. They offer a transparent operation with extremely low fees and up to 100 times leverage.

While there are no FIAT deposits or withdrawals, the platform is unique and very secure. It is ideal for seasoned traders who are experienced and know how to navigate margin trading options. With that said, BitMex is a legal, licensed exchange company with real human customer support and viable opportunities for making huge profits.


Crypto Exchanges

What Is OmiseGO (OMG)?

From being centralized to being expensive, today’s crypto exchanges come with their own share of issues. Besides, they often have a limit on how many transactions they can handle, a factor that has led to downtimes in times of high traffic.

A solution is thus needed for instant, peer-to-peer transactions on a scalable platform. With its game-changing Plasma technology, OmiseGO promises to be the frontier for such a solution. What is this Plasma technology, and what exactly is OmiseGO? We answer this question together with detailing how you can acquire some OMG coins and more.

What is OmiseGO?

Founded in 2017, OmiseGO (OMG) is a decentralized crypto exchange and a bank that runs on the Ethereum blockchain.  The project describes itself as “the answer to a fundamental coordination problem among payment processors, gateways, and financial institutions.” 

OmiseGO is the brainchild of Omise, a payments company based in Thailand. The team comprises CEO Jun Hasegawa, Vitalik Buterin, Joseph Poon, Dr. Gavin Wood, Vlad Zamfir, and Roger Ver.

The project’s mission is to enable people to have secure access to financial services, including the ability to invest, exchange, and spend digital assets anywhere.

OmiseGO has two products: the white label eWallet and the decentralized OmiseGO network. The OmiseGO network uses Plasma architecture to achieve scalability. (A white label product is one that can be used by many different brands. That means developers can create their own wallets based on OmiseGO’s eWallet.)

OmiseGO’s Core Components

The OmiseGO platform has five core components: a decentralized exchange, a developer kit, eWallet Suite, OmiseGO coin (OMG), and Plasma technology. Let’s look at these technologies in more detail below:

Decentralized Exchange

OmiseGO’s decentralized exchange allows cross-chains transactions to take place, meaning users can trade cryptos directly across blockchain networks. These transactions are verified through a proof-of-stake consensus mechanism in a process where OmiseGO users stake their tokens to vote on the validity of transactions.

A Software Developer Kit

OmiseGO’s platform provides a set of tools to developers with the hope that they will use these tools to create high-quality, user-friendly wallets for users on the platform. The kit is designed in such a way that developers do not have to have an in-depth understanding of blockchain to create wallets. With the kit, developers can also integrate debit and credit card account transfers through which users can deposit, withdraw, and convert fiat money into digital currency.

OMG Token

The OmiseGO Network relies on a Proof-of-Stake mechanism to validate transactions. Coin holders leverage their stake to have a say in the running and protocols of the network in a decentralized manner. 

Users also pay for transactions on the network via OMG coin.

eWallet Suite

OMG’s eWallet suite is a bridge that allows users to connect seamlessly to the OmiseGO network.

It allows users to interact seamlessly with the OmiseGO network. The wallet is customizable, meaning you can tweak and develop it to suit your own needs. You can also use it to store loyalty points, game tokens, both crypto and fiat money, and more.


Plasma is a blockchain scaling solution created by Joseph Poon and Vitalik Buterin.  Plasma’s white paper states that “Plasma is a proposed framework for incentivized and enforced execution of smart contracts which is scalable to a significant amount of state updates per second (potentially billions) enabling the blockchain to be able to represent a significant amount of decentralized financial applications worldwide.”

In essence, Plasma is blockchains on top of a root chain. Think of plasma being the branches to the root, i.e., the main blockchain, e.g., the Ethereum blockchain.

Here are the design goals of the project

One main blockchain and child chains – The main blockchain is the root blockchain, and every other child chain is derived from it. Both types of blockchains run independently of each other.

Minimization of the need for trust – The system is as trustless as possible. None of the child chains is dependent on the actions of particular actors.

Ledger scalability – The blockchains need to hold a lot of data. The ‘branch’ chains should be able to accommodate the data that would be normally held by the main blockchain. 

Scalability The child chain ought to be able to implement various scaling solutions, e.g., sharding and the lightning network.

Localized computations – Each child chain should be able to perform their own calculations and provide updates to the main blockchain at regular intervals.

Fraud proofsIn the event of a dispute, the concerned party should be able to send proof to the root chain. The root chain can then roll back the state of the child chain and penalize the signers of the block of the child chain.

Uniqueness for every chainThe child chains should have their own governance procedures, provided they are reporting back to the main chain at the required intervals

What’s So Special with OmiseGO?

OmiseGO differentiates itself from standard exchanges by two qualities: decentralization and being currency agnostic.

Decentralized. Today’s exchanges are centralized, meaning they are owned by an exchange that makes all the decisions and owns users’ data. On the contrary, OmiseGO is completely decentralized, so users retain ownership of their data. Data is also secure on the blockchain such that it’s impossible to tamper with.

Currency Agnostic. The majority of exchanges only allow users to obtain a particular crypto after converting fiat money to another crypto, mostly Bitcoin or Ether. This process is inconvenient and also expensive as users are charged fees at every stage.

OmiseGO circumvents this process by charging a small flat fee for all conversions, whether from fiat to crypto or from crypto to crypto.  

OMG Statistics

OmiseGO is currently trading at 0.652534 (December 23, 2019) while ranking at number 47 in terms of market capitalization. Its all-time high was $28.35 on January 08, 20, while its all-time low was $0.319695 on July 16, 2017. OMG’s total supply is 140, 245, 398.

How to Buy and Store OmiseGO

You can buy OMG coins from exchanges such as Binance, Kucoin, HitBTC, and more. Most exchanges will require you to purchase BTC, Ether, or Litecoin so as to exchange it for OMG. Some exchanges also accept Litecoin.

You can use any ERC 20 compatible wallet to store OMG. Hardware wallets such as Trezor, Ledger Nano, Cobo Vault, and Cool Wallet S are also recommended.


OmiseGO promises to change the crypto exchange landscape with cheaper fees, a decentralized function, and creative, user-friendly wallets. The company behind it is an established player in the Asian market, boasting a massive base of users. The project is also supported by leading players in the blockchain and crypto space, putting it in a competitive spot. Its Plasma technology has capabilities that could see OmiseGO disrupt the crypto exchange industry. It should be interesting to watch how the OMG evolves in the coming years.

Crypto Exchanges

Kucoin Review And Analysis 2020: Is It A Safe And Reliable Crypto Exchange?

Would you like to buy or sell cryptos but aren’t sure of the exchange platform’s safety and reliability? Well, if you have looked at different lists of most popular crypto exchanges today, chances are KuCoin has been a prominent feature. And we believe that this huge popularity can, to a large extent, be attributed to its wide global reach, massive client base, super-low trading fees, and commissions as well as its support for a considerably high number of coins.

If you still aren’t sure about registering with KuCoin or transacting cryptocurrencies on the exchange, we advise that you read on. This comprehensive KuCoin review will help you understand such aspects of KuCoin as supported currencies, and trading pairs, trading costs, level of customer support, security, and everything else we feel is important in helping inform your decisions.

We start by gaining a deeper understanding of the exchange platform.

What is Kucoin?

First off, it is important to appreciate that KuCoin is a pure crypto-to-crypto exchange. You, therefore, can only engage in cryptocurrency transactions only – from deposit to withdrawal. It started in late 2017 as an online marketplace for leading cryptocurrencies like Bitcoin and Ethereum but currently supports virtually every other popular crypto, including the ERC 20 tokens.

How does KuCoin work?

Like we mentioned earlier, KuCoin is a pure crypto-to-crypto exchange and will, therefore, not process fiat payments. The upside of this is that KuCoin lives true to the blockchain and crypto industry’s mission of anonymity through anonymous transactions. On the flip side, however, it makes entry into the crypto space relatively harder for newbies. Since KuCoin won’t process fiat deposits, you will need to first engage a fiat-to-crypto exchange like Coinbase or Kraken, exchange it for your preferred crypto and withdraw them into your crypto wallet before redepositing the newly acquired cryptos in the KuCoin platform.

You will agree that this entire process is rather tedious. The fact most of this fiat to crypto exchanges where you will need first to convert the cash into crypto requires that you verify your trader account defeats KuCoin’s push for customer data protection.

Who can trade on KuCoin?

What we liked most about KuCoin is its diversity. It accepts memberships from residents of 200+ countries and territories across the world. KuCoin, however, doesn’t process membership requests from U.S residents.

Registering an account with KuCoin is relatively easy and starts with accepting the exchange’s terms and conditions. You are then directed to the signup page that only requires you to fill in a valid email address and password. Unlike most other exchanges that ask for such personal details as your phone number, you only need to verify your email when registering for a trade account with KuCoin.

Cryptocurrencies supported on KuCoin

Just like in the number of countries supported by KuCoin, we were equally impressed by the sheer number of cryptocurrencies and crypto trading pairs that you can transact with here. Their list of supported cryptos extends well beyond popular cryptos like Bitcoin, Ethereum, and LiteCoin to cover the obscure ERC 20 tokens as well as a host of other little known cryptos.

What we particularly like about such a vast number of cryptocurrencies and trading pairs is the fact that you never run out of trading or investment choice. The huge number of cryptos and crypto pairs also presents long-term investors with a real chance of stretching their portfolio. On the flip side, however, we are concerned that it might be impossible to adequately vet the legitimacy and sustainability of most of the listed digital coins. This exposes KuCpoin investors to massive losses should a listed coin turn out to be a scam.

How to trade on KuCoin

KuCoin also has one of the most straightforward and easy “buying and selling processes.” And it all starts with registering for a crypto trader account on the platform. Upon confirming the validity of the email address, you are free to access the KuCoin markets and start buying or selling.

A few points, however, stand out about KuCoin’s crypto market. First, it gives you the option of choosing between 4 to 8 decimal prices on the order book. It also is quite simplistic and easy to interact with as it only features the order book on the left, the price of your preferred trading pair on the right, and the buy and sell buttons at the bottom. You also don’t have to worry about the order book as the buy and sell options always present you with the best price option for your preferred trades, which is more often than not the price of the last order.

KuCoin trading fees and commissions

We also have already mentioned that the KuCoin trading fees are one of the factors that drew us to the exchange. It, for instance, is free to deposit cryptos into the KuCoin exchange. Transactions charges are set at a flat rate of 0.10% – where KuCoin Share (the native token on the KuCoin exchange holders get to enjoy up to 30% in discounts. Withdrawal fees, on the other hand, vary from one coin to another where NEO Coin withdrawals are free while BTC and ETH carry a fixed rate charge of 0.0005% and 0.01%, respectively.

Note: How much discount you receive depends on how many KuCoin Share coins you have by the end of the day. For every 1,000 KCS you hold, you will receive a 1% transaction fee discount with maximum discount currently set at 30% for individuals with 30,000 KCS coins and above.

Deposit and withdrawal

By virtue of being pure crypto to crypto exchange, KuCoin will only process crypto to crypto transactions. If you are new to the crypto scene, you will need to first convert the cash at hand to your preferred crypto on such exchanges as Coinbase – it supports fiat to crypto exchanges.

Security and digital assets protection

We start by noting that KuCoin has never been hacked, and this in itself is enough proof that they have put in place adequate security measures around their client funds and their exchange systems.

KuCoin attributes its success in keeping their client’s crypto assets safe to two key factors. First, KuCoin claims that it collects minimal personal information regarding their clients. Just enough to keep their clients safe and little enough to not aid hackers in compromising their security. Secondly, even though the exchange doesn’t give out free crypto wallets, KuCoins has still invested heavily in cold storages where most of the client crypto deposits are held, safely away from hackers.

Regulation and reputation

KuCoin prides itself on being one of the most popular unregulated exchanges. It is a champion of self-regulation within the crypto world and will therefore not submit to the conventional finance regulatory agencies like U.K’s FCA or Australia’s ASIC.

KuCoin customer support

KuCoin’s exemplary customer support starts with the comprehensive FAQs page on their website. You can also easily access the support team via the live chat on the KuCoin website.

Additionally, there exist several other ways in which you can access this support team, including opening a ticket on the website, via email, or by following the different KuCoin social media pages.

We, however, weren’t impressed with the fact that this customer support team takes forever to answer live chat and email queries. We feel that this goes against their claim of running the “exchange of choice” for the global crypto community.

Everything else you need to know about KuCoin

☑️ Share in the company profits:

We like the fact that KuCoin presents you with more than one income generating streams. Here, you don’t stand to make profits from just trades, but the company will also share with you 50% of their profits when you invest in the KuCoin Share coins. Moreover, you also get to earn more rewards if you stake your KCS coins with the exchange.

☑️ Margin trades:

KuCoin has also, though conservatively, embraced margin trading where crypto traders are treated to leverages of up to 10X their stated amounts. Additionally, KuCoin supports contract trading where contracts attract leverages of up to 20X.

☑️ KuCoin mobile app:

In appreciating KuCoin’s uptake of advanced technologies, we point to their feature-rich KuCoin app that is available in both android and iOS versions. These apps are easy to use and give KuCoin clients access to all the features contained on the KuCoin desktop dashboard.

Verdict: Is KuCoin a safe and reliable crypto exchange?

The fact that it was launched in late 2017 hasn’t stopped KuCoin from going on to become one of the most popular crypto exchanges around today. And having gone through the company website and tested out some of its key features like the buy/sell process and customer support, we are satisfied with such aspects of their operations as the competitive fees.

We especially are appreciative of the fact that KuCoin has never been hacked and its commitment to securing its client’s personal information both by not collecting sensitive information and keeping whatever little they have safe. And it is on the basis of this that we consider KuCoin safe and reliable crypto to crypto exchange. You might, however, want to be a little patient with their customer support team.

Crypto Exchanges

Kraken Review: Is Kraken A Trustworthy Crypto Exchange?

Looking at Kraken crypto exchange and its operating history, you can’t help but notice a few of its unique features. It is, for instance, one of the oldest crypto exchanges around having been established in 2013. It also has never been hacked. More importantly, Kraken was also the first crypto exchange to feature on the Bloomberg Terminal. Not to mention that it was the first crypto exchange to publish cryptographic proof of reserve audits – a great show of transparency towards its clients that even some of the leading exchanges haven’t matched yet.

Kraken’s path hasn’t, however, been free of challenges. Its greatest test came about in the last quarter of 2017. At this time, it was considered a market leader and the most sought after crypto exchange for safety and low trading fees. This not only had everyone wanting to join the exchange but also made it a target for cybercriminals that rammed it with numerous cyberattacks.

Unable to process its membership requests, keep off cyberattacks, and carry out crypto exchange duties optimally, Kraken had to shut down for one week in January 2018 to review its buggy systems. It has since come back to life and is still on its path to recapturing its market leader position.

But how trustworthy, safe, and reliable is the Kraken crypto exchange? We answer this and tell you everything else you need to know about Kraken in this review. And we start with a little background check.

What is Kraken?

Kraken is crypto to crypto and fiat to crypto exchange founded by Jesse Powell in 2013. It has its headquarters in San Francisco, California, and was born of the idea of providing a safer crypto exchange after the fall of Mt. Gox. It started off as a Bitcoin exchange but has since expanded its reach and currently hosts all the leading and emerging cryptocurrencies in the market.

Kraken is also constantly leveraging its impressive security record to attract the attention of high volume and institutional crypto traders. It has, for instance, created a secure over the counter exchange service where these high volume traders like banks and major crypto investors get to trade with each other directly.

How does Kraken Work?

Kraken is a pure crypto exchange. This implies that you won’t find most of the features that have become synonymous with other crypto exchanges. For instance, Kraken doesn’t have a crypto wallet, and you will, therefore, need to invest in one before trading here. Additionally, Kraken limits itself to the amount of personal data collected about its clients.

This, according to Kraken CEO – Jesse Powell, makes Kraken less susceptible to hacking. He goes on to encourage his exchange clients to consider investing in standalone offline crypto wallets and only have what they can afford to lose in their Kraken trader accounts.

Who can trade Kraken?

Kraken is a U.S based crypto exchange with a global reach. Virtually anyone from any part of the world can, therefore, open a trader account safe for the residents of Japan, Iran, Iraq, Cuba, and a few other countries. New York and Washington state residents are also unable to access Kraken crypto exchange due to BitLicense regulations. Registration is nonetheless quite straightforward as the exchange will only require your email, preferred username, and password for account activation.

Currencies supported by Kraken

Kraken is both a fiat to crypto and crypto-to-crypto exchange and will, therefore, support both fiat and cryptocurrencies trading pairs. Fiat currencies supported here include:

  • Euros
  • USD
  • GBP
  • JPY
  • Canadian Dollar

Cryptocurrencies supported on the Kraken crypto exchange include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Stellar Lumens (XLM)
  • EOS (EOS)
  • Cardano (ADA)
  • Ethereum Classic (ETC)
  • Gnosis (GNO)
  • Iconomi (ICN)
  • Augur (REP)
  • Dash (DASH)
  • Monero (XMR)
  • Ripple (XRP)
  • Zcash (ZEC)
  • Cosmos (ATOM)
  • Melon (MLN)
  • Qtum (QTUM)
  • Tezos (XTZ)
  • Tether (USDT)

These are then paired into 70+ trade fiat to crypto and crypto to crypto trading pairs.

How to trade on Kraken?

We found trading on Kraken relatively straightforward. You start by creating a trader account. Proceed to fund your account via either a bank transfer or a bitcoin deposit. You can then proceed to initiate a trade using the three different order forms available. With the simple buy or sell order form, you will only find the market and limit price features.

The advanced buy/sell order form is, however, more and ideally meant for expert traders. In addition to the market and limit orders, you will also find such additional crypto trading features as the stop loss and trailing stop loss. Additionally, these advanced traders are exposed to margin trading.

Kraken trading fees and commissions

Kraken maintains two primary crypto trading charges – the maker and taker fees. These are charged on a sliding scale where makers fees range from 0.16% for amounts of $1 to $50,000  to 0.02% for trades between $5 million and $10 million while purchases above $10 million are free. Taker fees, on the other hand, start from 0.26% for sales of between $1 and $50,000 and gradually decrease to 0.10% for sales above $10 million

Deposit and withdrawal

There are two primary ways in which you can deposit or withdraw money from Kraken crypto exchange. For fiat deposits, you can use bank wire transfer, given that the company doesn’t process credit and debit cards or online wallet payments. These deposits attract a fixed fee of $5. Cryptocurrency deposits, on the other hand, are primarily free while both fiat and crypto withdrawal charges are volume-based.

Security and crypto asset protection features

☑️ 2FA and Master Key:

We notice that Security at Kraken starts on the account registration page whereby upon registration, you will be presented with the option to create a Master Key and a PGP public key. You will also have the option of embracing two-factor authentication. However, unlike most other crypto exchanges whose 2FA is mobile phone-based, Kraken makes it possible to use the authenticator app or YubiKey hardware tool.

☑️ Cold storage:

Like most other crypto exchanges, Kraken holds a significant portion of the funds in their client trading accounts in cold storage. And we believe that this goes along in discouraging cyberattacks and minimizing their impact if they ever succeed.

☑️ Proof of Reserves:

We started by mentioning that Kraken was the first big crypto exchange to share their proof of reserves with their clients. This refers to a cryptographic audit of the company’s finances in an attempt to show the exchange clients that their money is not misappropriated. We would, however, consider this more of transparency and less of security issues.

Regulation and reputation

Kraken is a highly deregulated exchange that has time and again dissociated itself from the traditional financial industry regulator. The exchange founder and CEO Jesse Powell have been particularly vocal in championing the deregulation of the blockchain and crypto industries and emphasizing the need for self-regulation. His company has shown open defiance to legislations and agencies perceived to be out to control the industry.

Kraken, for instance, has – at the time of writing this – ceased operation in New York and Washington because it failed to renew the required BitLicenses. Launching the proof of reserves, therefore, goes to prove that the crypto industry can still turn on its technologies to self regulate.

Kraken customer support

Kraken’s website features a comprehensive FAQ section that addresses some of the most common queries and challenges you will most likely face when interacting with the platform.

You are, however, free to raise any additional queries with the Kraken customer support team that is available 24/7 via live chat. Alternatively, you can raise a ticket, send them an email, or engage them on the different social media pages.

Kraken’s customer support team isn’t the fastest we have come across in the crypto exchange industry. We have noted that while the exchange holds on to the claim that live chats will be responded to in an hour, it sometimes takes longer with identification documents taking even longer (more than a week) to get verified and the trader account activated. We attribute this to growing Kraken support and condensed manpower.

Everything else you need to know about Kraken

☑️ No app or wallet:

Interestingly Kraken doesn’t maintain a Kraken exchange app or some other form of mobile trading. Just like they don’t provide their clients with free crypto wallets. This is unlike the rest of industry players that have gone out their ways to make crypto exchanges on their platforms as seamless as possible.

☑️ Supports margin trading:

Kraken exchange was one of the earliest adopters of leverage and margin trading for crypto transactions.

☑️ Facilitates the trade of crypto futures and indices:

Kraken is also one of the few crypto exchange industry players that process both crypto futures and indices trades.

Verdict: Is Kraken trustworthy?

Yes, we consider Kraken not just trustworthy but a reliable crypto exchange for the purchasing and sale of crypto assets. Our decision is informed by the fact that since its establishment in 2013, Kraken has not had any reported case of hacking or misuse of customer funds. Additionally, Kraken has voluntarily expressed transparency in its operations with the launch of the proof of reserves.

We also consider the fact that the company did cease operations for more than a week when they felt like they were putting client funds and data in danger – at the expense of the exchange’s reputation and possible loss of credibility in the face of the crypto community quite impressive. The only reservation we might harbor against Kraken would only result from their relatively sluggish customer support services.