All crypto exchange reviews

Gate.io is a cryptocurrency exchange that witnessed its foundation towards the end of 2017. The platform operates without an official license but does require identity verification for transactions that exceed the sum of a thousand dollars.

Gate.io located in Virginia(United States of America)

Gate.io is a cryptocurrency exchange that has its headquarters situated in Virginia, USA. The main centre of operations for the company has been in Virginia ever since its first days. No changes have been made in the location of Gate.io’s headquarters until now. Users have the option to view the website in three languages i.e. English, Chinese, and Japanese. What makes Gate.io stand out in this era of cryptocurrencies is the size of the exchange. It is among the top 20 crypto exchanges out there. The fact that Gate.io undergoes a heavy trading volume of over $40 million every single day is enough to give you an idea of its scale and position in the market. The low fees associated with the company’s services add to its list of pros. Customer support is available in Chinese as well as English.

History on Gate.io

Gate.io does have a series of major events decorating its life cycle. Well, it is because Gate.io is a relatively new crypto exchange that emerged in late 2017. It originated in Virginia, United States, and has its central building in that city. The ID verification gets increasingly stringent with increasing transactional amount. It is available for traders in website format and offers an alternative to the already popular platform out there. The information accessible to customers on Gate.io is subject to their personal interest in the currencies they want to deal in.

However, a lack of a concrete historical background should not be taken as a reason to discount the credibility of Gate.io. In its short yet focused run as a digital currency trading platform, Gate.io has garnered a huge customer base. The volume of trades flowing through Gate.io on a daily basis is massive. Well, it would not be far-fetched to say that despite its lack of a long track-record, Gate.io might just create history in the long run. The option to view information about preferred digital coins does not eliminate the power to look at general market trends. This crypto exchange is based on the crypto-to-crypto model of trading. The supported currency pairings are that of ETH, EOS, BTM, BTC, ONT, and USDT.

Gate.io’s team

the team working on the website for Gate.io is a group of dedicated professionals trying to bring out a great user experience without compromising on functionality. Gate.io made its entrance into the market in 2017, and in this relatively short span of time, the company has done pretty well for itself. The numbers speak for themselves, and the whole credit for this crypto platform’s monumental growth goes to its core team.

No clear information is available about the credentials of the team members, but the efficiency of the trading platform does say a lot about their capabilities. The support section on the website provides all relevant information that new users might need to get their trading journey started. All relevant topics have been covered with attention paid to conciseness and clarity. Customers can even submit tickets detailing about their problems. The support staff thereafter works on the resolution of the reported issues. The inculcation of a complaint redressal system is one of the reasons that Gate.io has evolved at such a rapid rate.

How to trade on Gate.io

Trading on Gate.io is a simple affair. Your journey would begin by getting a hang of the website’s user interface. Once you understand the basic commands, your subsequent steps would depend heavily on your personal knowledge of cryptocurrencies and trading in general. Another thing that you would like to know is that Gate.io specifies no minimum deposit level for its customers. You’re to begin as low as you want. Furthermore, selecting trading pairs can be accomplished simply by making use of a drop-down menu. You can access the option by using the ‘markets’ button on the top area of the website.

After selecting appropriate trading pairs, you’ll be required to analyze relevant information on the trading screen. However, before you dive into your analysis, take a second to let all the information sink in. Looking at so many different statistical representations at once can be overwhelming for first-timers. Placing an order is a simple ordeal, and happens according to the amount you fill. Any matching orders to your open order will be displayed on the screen itself. You also need to know that there is no fee for deposits, but a 0.2% fee for trading does exist. However, you can get access to discounts if your trades move to a higher tier.

Apps

Gate.io is a crypto exchange platform that not only offers its customers the ability to trade using a mobile website but also provides mobile apps for Android as well as iOS. Installing the applications is simple. All you need to do is the find the app on the respective store, and download it. The installation will happen itself, and as soon as it finishes, you can make trades on your smartphone.

The application can be installed on Android devices using the Play Store, and the same outcome can be achieved on iPhones or iPads using the App Store.

Create an account on Gate.io

Creating an account on Gate.io is as easy as signing up for a social media platform. All you need to do is visit the website and fill up the form associated with the sign-up process. The ‘New User Signup’ button will be the place to start. You’ll also need to fill up a captcha to prove that you’re not an automated bot. Once you agree to the user agreement on the website, the account creation process will be complete. You can thereafter begin trading using your credentials.

KYC

When Gate.io came into the picture, it did not require any KYC verification at all. However, the company has changed its direction, and it is now required to complete Know Your Customer norms in order to streamline withdrawal requests.

Well, Gate.io’s new approach to KYC norms is one that needs appreciation. Identity verification helps in reducing the number of illegal activities that plague the cryptocurrency market. Identity fraud on the internet has resulted in huge losses for many people. Even though cryptocurrencies exhibit transparency at their core, a few layers of security don’t do any harm. In fact, they help further bolster the functioning and credibility of a digital currency exchange.

Security

In terms of community trust, Gate.io does not fare as well as some of its companions. Despite the presence of customer support, the response garnered by grieved customers has not been up to the mark. Pending complaints and unexplained disappearance of coins from certain accounts plague Gate.io till date. However, you must not perceive that Gate.io doesn’t implement any security protocols.

All the coins of the company’s users are stored in cold storage. Till date, the website has not been the victim of any hackers. No such reports have made it to the surface. Furthermore, Gate.io has an active social media presence. So, it’s not difficult to contact them on different platforms. The usage of the hot wallet also adds to the security of the platform.

Conclusion on Gate.io’s review

Gate.io shines because it has created a platform similar to most cryptocurrency exchanges in a very short span of time. In terms of functionality, there aren’t a lot of issues to be had with this cryptocurrency exchange. Despite the average community trust, Gate.io more or less delivers what it promises. All the charts and trade histories available for traders to look at are crisp and appropriately detailed. The user-interface itself is easy to understand with time. All of that means more because of the fees associated with the services of Gate.io. It is a lot cheaper than some of the premium alternatives in the market.

Changelly is a platform where traders can conduct seamless exchanges of digital assets. The service deals in the exchange that happens among cryptocurrencies.

Changelly located in Prague (Czech Republic)

Chagelly has emerged as one of the most popular cryptocurrency exchanges that facilitate the transfer of one cryptocurrency to another. The availability of the service is worldwide, and the headquarters of the company have been in Prague ever since the get-go. Despite the lack of fiat currency conversions, Changelly has garnered a loyal user-base. The efficiency incorporated in the exchange of cryptocurrencies is commendable. Furthermore, the website design is yet another aspect of Changelly that puts it above its competition. Another thing potential customers of Changelly would be glad to know is that even though the exchange of fiat currencies isn’t facilitated by the platforms, there isn’t any hindrance when it comes to purchasing cryptocurrencies using fiat currencies. The supported fiat currencies for the above-mentioned purpose are US dollar and Euro. Regardless, payments in more than 30 cryptocurrencies are accepted by this cryptocurrency exchange platform.

History on Changelly

Changelly is an organization that experienced its first steps as a startup. The whole adventure began in the year 2013. The people at the helm of the organization were the members of MinerGate. Later in 2014, Changelly developed into a full-fledged cryptocurrency exchange. A new team of talented individuals took the reins and continued the work that the world knows of today. Changelly has had an interesting journey during which it developed from a prototype developed by people from a mining pool to a renowned cryptocurrency exchange service. Konstantin Gladych has been the Chief Operating Officer of the company ever since Changelly’s transition to a standalone cryptocurrency exchange.

In the year 2016, the technological core of Changelly underwent critical updates. The redesigned version of the crypto exchange service was launched on the eve of International Day of Human Space Flight in 2016 itself. As of now, has no ties with MinerGate. The current version of Changelly has amassed a user base of about 2 million people all across the globe. Given the duration in which Changelly has been operational, the above-mentioned achievement deserves recognition and applause.

Changelly’s team

Changelly is an organization that has not been the same ever since its emergence. The primary ideation behind Changelly thought of it as a startup, but with the intervention of CEO Konstantin Gladych, it transformed into a full-scale cryptocurrency exchange. The team associated with the mining pool responsible for the creation of Changelly’s prototype is no longer a part of the company. A new team steered by CEO Konstantin Gladych is responsible for the functioning of Changelly.

Another thing to note about Changelly that it provides its customers with the ability to reach out to customer support as and when required. Any queries or suggestions regarding anything related to the company can be posted at support@changelly.com. Furthermore, due to partnerships with other exchanges, the team of Changelly extends to the respective teams of the partnered portals as well. However, a fair assessment can be made based on the fact that the streamlined design of Changelly’s website. Also, the exchange service’s efficiency speaks volumes about the capabilities of the people running everything.

How to trade on Changelly

Changelly gives you the option to convert over a 100 cryptocurrencies. The simple and intuitive interface makes it easy to execute transfers even for a layman. Before beginning the trading process, you must have an account on Changelly. Once you make your way to the site’s trader home screen, look for the dashboard. After discovering where the dashboard is, you need to make your preferred coin selection for withdrawal purposes. You can accomplish that by simply pressing the withdraw button visible right alongside the coin you select. You need not fill the address section at this point of the transaction. The same thing applies to the payment ID section as well. Thereafter, you’ll need to enter the amount you intend to convert using Changelly. You’ll also need to enter the address where you wish for the funds to go. Before going on with your transaction, make sure that you have thoroughly verified all the details. Once you do that, clicking on the confirm button will set you straight.

After pressing the confirm button, you’ll be asked to enter your payment ID as well as your Address. You can find both the details from the top section of the transaction page. Copy them to the minergate dashboard, and wait for the system to process your request. You’ll have to be patient with the website as some unanticipated reasons can cause delays. Server overload can be one such reason, but you need worry as the occurrence of such delays is extremely rare. As soon as the transaction finishes itself, you’ll be in possession of the requested coins. One important thing to note is that the above guide depicts the basic layout of a transaction on Changelly. You’ll need to keep yourself up to date with the website’s interface in order to be aware of technological changes.

Apps

Changelly does not provide its customers with specialized mobile applications. If you wish to use the service on your mobile, using the mobile website or viewing it in desktop mode is your best bet. However, some third-party apps offer Changelly integration and can be downloaded at the user’s own risk.

Smartphone apps for Changelly exist neither for Android nor for iOS. This means that if you try to find Changelly on either the android play store or the Apple app store, you won’t be able to find officials apps. However, the butter-smooth user experience of Changelly on a computer screen more than makes up for the company’s lack of dedicated mobile applications.

Create an account on Changelly

Creating an account on Changelly doesn’t require you to be a genius. Well, it wouldn’t hurt either if you are one. But, the bottom line is that creating an account on Changelly is a very easy ordeal. All you need to do is open the website, and click on the sign-up button at the top right corner. The green coloured hyperlink pops out among all the other white coloured hyperlinks. Once you click on the sign-up button, all you need to do is provide an email address. Alternatively, you can use either Google+, Facebook, or Twitter to register yourself on Changelly. However, the simple sign up process does not indicate that Changelly isn’t a secure cryptocurrency exchange.

KYC

Almost every business entity out there uses some kind of KYC norms to validate their customers. The Know-Your-Customer aren’t as stringent on Changelly as some of its competitors, but they exist nonetheless. The company’s terms of use clearly indicate that a customer must be willing to undergo KYC verification as and when required.

In simpler words, Changelly requires KYC when it suspects a particular account of fishy activities. Shady transactions definitely fall under the purview of KYC norms implanted by Changelly. However, despite the lack of malice on the part of Changelly, some users get unnecessarily scrutinized because of Changelly’s slightly undefined KYC policy.

Security

In terms of customer security and credibility, Changelly fares quite well. Every customer of Changelly enjoys 2-factor authentication facilitated by the company. Google Authenticator is also part of the security protocols embedded in Changelly’’s algorithm.

The company takes customer privacy very seriously, and thereby invalidates the sharing of client info. Things that are meant to be private are respectfully kept private. Furthermore, this cryptocurrency exchange does not store the customer’s cryptocurrencies. All the dues are transferred to the customer’s wallet in real time. The huge user-base of Changelly reinforces the fact that it is a very secure cryptocurrency exchange.

Conclusion on Changelly’s review

Changelly is a cryptocurrency exchange that has its fair share of pros. However, it cannot be said that the service provided by Changelly is perfect. Let’s sum up the good first. In terms of safety and credibility, Changelly wins the game. The easy-to-use interface provides for a seamless user experience. The highly flexible transfer limits further add to the impressiveness of Changelly. The 1st transaction does have a limit of $50, but limits only go upwards from there. In fact, after a month of using Changelly, you’re free to go as high as you want. Another good thing about Changelly is that it is a globally available service. An enormous reach like that reinforces the credibility of the platform. That is because blunders easily come to the surface when a service is available on a global scale. However, Changelly hasn’t been called out for anything corrosive to the company’s image. Now, let’s talk about the cons. The fees charged by Changelly is most definitely higher than some of its rivals out there. Another thing that can put off prospective customers from using Changelly is its lack of support for fiat money.

In today’s day and age, cryptocurrencies are having a major impact on the world of finance. Timely investments in Bitcoin have created many millionaires. Changelly stands out by providing integration with already established trading platforms. The associated platforms are Bittrex, Poloniex, and Binance. Rate suggestion happens in real time, thereby providing users with an experience where they can make the most out of the intelligent algorithm of Changelly. Accordingly, bid orders and ask orders are placed on various platforms. Customers are always provided with the best rate that is available. Another reason for Changelly to have a presence in the market is its partnerships. The core partners include Coin payments, Poloniex, Mycelium, Coinomi, Jaxx, Coinmarketcap, Binance, and Bittrex. Changelly also acts as a service that acts as an outsourced API for other wallets and cryptocurrency exchanges.

Bancor works similar to a cryptocurrency exchange, but some differences in its token exchange mechanics make it unique. It came into being in 2016 with an interesting take on the whole process of cryptocurrency exchange. Bancor introduced a new standard called Smart Tokens.

BANCOR NETWORK located in Zug (Switzerland)

Headquartered in Zug, Switzerland, the Bancor Network has been popularising the concept of Smart Tokens ever since 2016. In fact, the Bancor Protocol traces its origins back to 1944. It is an evolved version of an international trade balancing currency that was proposed at the Bretton Woods conference. All the global adoption initiative of the Bancor Protocol are managed by a team of professionals based in Zug, Switzerland. The headquarters of the Bancor Network haven’t transitioned to a new location ever since the organization’s emergence.

History on BANCOR NETWORK

The Bancor Network is a platform where users can convert between tokens. It has a rich and vivid historical background. The key idea behind the Bancor Protocol was formulated by E.F. Schumacher and John Maynard Keynes. As detailed above, it was presented as early as the year 1944. The announcement happened at the Bretton Woods Conference, and the same idea has taken the form of the BANCOR NETWORK today. There is zero involvement of a counterpart in token conversions that happen through the BANCOR NETWORK. Furthermore, conversion prices are automatically calculated by BANCOR. Another convenient feature is that of built-in liquidity. In layman terms, BANCOR NETWORK can be called an extension of the concept of a cryptocurrency exchange.

Bancor follows something called the Bancor Protocol. It enables the customers of the Bancor Network to convert different tokens on the website among themselves. As stated above, the conversion prices are automatically calculated. Therefore, the Bancor Network brings some interesting features to the table. Ever since the network’s launch in 2016, customers have been making use of the unique functionality provided at the company’s domain. www.bancor.network is readily accessible by all people who wish to make use of their services. The foundation council and the advisory board work in sync with each other to ensure the best possible functioning of the network.

BANCOR NETWORK’s team

A considerable chunk of the BANCOR NETWORK’s acclaim can be accredited to the team behind the initiative. Bernard Lietaer heads the foundation as its president. Eyal Hertzog, Guy Benartzi, and Guido Schmit-Krummacher are the other members of the foundation council.

The advisory board of the Bancor Network controls a ton if its multidisciplinary initiatives. The board consists of 13 members. The Venture Capital department is managed by Tim Draper. Elie Galam looks after the Financial division of the BANCOR NETWORK. Johny Henry Clippinger looks after the governance of the company. Brock Pierce manages the Blockchain division of the advisory board. Lee Linden gives his insights about all things related to mobile applications. The blockchain advisory wing also has Guy Corem to provide his expertise. Yoni Assia is responsible for making strategies related to social trading. The algo trading is headed by Yariv Gilat. Roel Wolfert is responsible for giving advise on community currency, and Justin Rosenstein looks after collaboration software.

How to trade on BANCOR NETWORK

The first and foremost thing you need to know before you start using the BANCOR NETWORK is that the platform doesn’t provide any support for fiat currencies. Before you can even begin converting one token into another, you’ll need to buy a cryptocurrency on your own. You can make use of Coinbase to get yourself sorted. Buying Bitcoin or Ethereum is not a tough task in this day and age. Coinbase is recommended for people who are just beginning their journey in the realm of cryptocurrencies and relevant trades. The reasoning behind the above recommendation is that Coinbase is completely regulated by the government of the United States and has an easy to use interface. However, you can make your own choices in this regard. The way you buy your cryptocurrency is up to you. All you need to use the BANCOR NETWORK is an ERC 20 token available at your disposal.

Now, after acquiring access to cryptocurrency, and making an account on the BANCOR NETWORK, you’re all set to make use of its unique features. Your job is to convert your token to BNT. BNT stands for Bancor Network Token. Any token that is available for conversion on the platform can be converted into BNT. The vice-versa can also take place with the usage of a simple click. The Bancor Network uses an inbuilt formula to regulate the prices of the token conversions that happen on the network.

Apps

The BANCOR NETWORK does not have any standalone apps for Android and iOS. However, the domain can be accessed via mobile devices with ease. The same functionality is also extended in the mobile website of BANCOR. However, the BANCOR NETWORK does have a desktop app for its users.

The most secure version to make token exchanges on the platform is via the website. www.bancor.network is the URL you can access to get your journey started. Bancor extends support for as many as 20 ERC 20 tokens.

Create an account on BANCOR NETWORK

Setting up a new account on the BANCOR NETWORK is an easy process. Once you open the landing page of the website, reach the button that says sign in. From there, you’ll be taken to a screen that has an option of registering as a new user. Follow the subsequent process which will begin by requiring you to verify yourself. You can either SMS, Facebook Messenger, or Telegram to do so. Along the process, you’ll be asked a few questions which you’ll need to answer. The most basic question that the BANCOR NETWORK asks new users is what they would like their display name to be. Eventually, you’ll be authenticated and required to set up a wallet. Follow the on-screen instructions to get yourself started with the services provided by the BANCOR NETWORK.

KYC

KYC stands for Know Your Customer. Nowadays, all major services on the internet require customers to authenticate their identity. It is a measure that leads to minimization of serious crimes like identity misappropriation and online theft. However, since BANCOR is a decentralized agency, there are no KYC requirements for availing the company’s services. This has its own set of pros and cons. Having no KYC norms does speed up the process of token conversion, but diminishes the security of the portal by a small margin. However, the BANCOR NETWORK has other security protocols in place for ensuring that its customers don’t end up being defrauded.

Security

BACNOR follows the decentralized model of cryptocurrency conversion. It means that there is no counterparty involved in the any of the transactions that happen on the BANCOR NETWORK. This completely eliminates the risk of BANCOR running with all the trader’s coin. A storage where the coins of a customer are stored simply doesn’t exist. This concept exists in some crypto exchange platforms as well. However, the fact that BANCOR operates on the core principles of cryptocurrencies makes the whole concept of the platform even more unique.

Due to the fact that there is no centralized record of token exchanges on BANCOR, the concept of KYC isn’t incorporated into this platform. Given the huge amount of token available for exchange, one has to be appreciative of the website’s security. Even though hackers have stolen from the platform before, it’s reputation in the crypto-community is still that of a safe and secure company.

Conclusion on BANCOR NETWORK’s review

BACNOR is not like all the other cryptocurrency exchange platforms out there. The Bancor Protocol makes its different from the rest. The uniqueness of BANCOR comes with its fair share of pros and cons. The model of BANCOR is not for everyone. You must be at least acquainted with the nuances of the Ethereum system in order to make judicious use of the powers deployed to you at the BANCOR NETWORK. The lack of flat currency support can be yet another problem for some prospective customers. One more disadvantage to using BANCOR is that customers aren’t provided with a powerful platform to deal in cryptocurrencies.

Users looking for a platform that provides some advanced tools to further tweak their experience should stray away from the BANCOR NETWORK. However, the vast number of token that one can exchange and zero counterparty risk make BANCOR a preferable system. The pre-calculated token exchange prices also make for a pretty convenient experience. All in all, the Bancor Protocol works pretty well for token conversions. BANCOR’s team is even pushing this protocol as a global framework for all such service providers on the web.

Short review:

LiteBit.eu is one of the most established and dedicated crypto platform which is widely used for crypto-related trading. A user can get access to almost every major crypto coin such as Bitcoin (BTC), Ethereum (ETH), Monero (XMR), DASH, BlackCoin (BLK), Peercoin (PPC), Crown (CRW) and many more.

LiteBit.eu located in Zoetermeer (Netherlands)

LiteBit.eu maintains its headquarter at 740, Weena, 3014 DA Rotterdam, Netherlands. The portal was made life in the fiscal year 2013 and the headquarters were situated in the Netherlands. Apart from the founder, the website was founded by his students. LiteBit.eu today has a staff of 21 individuals. When it comes to commercial registration number of LiteBit.eu, the Dutch registration number is 63661438.

History on LiteBit.eu

The LiteBit.eu is a European exchange which is currently handling a little over 46 cryptos. What comes as an important fact is that LiteBit.eu is offering dedicated and diverse payment methods which further unlocks opportunities for users. LiteBit.eu is a trademark from LiteGroup B.V. One should understand that only users which are hailing from Europe can make use of LiteBit.eu. Outsiders are simply forbidden from using the trading services on this platform. A user has the option to trade the listed cryptocurrency against the Euro. Talking about the speed of the transactions, the same solely depends upon the payment method you pick. Some of the transactions are immediately processed such as Credit or Debit card transfers. When it comes to bank or wire transfers, they are processes in a few days of time. The other payment options available at LiteBit.eu are iDel, Giropay, SEPA, Sofort, Mister cash and more.

Further commenting upon the trading limits applicable on LiteBit.eu. The limit depends on the verification status of your account. If you make an account and don’t verify the same, you’re entitled to a daily transaction limit of 75 Euros, a weekly limit of 225 Euros and a monthly limit of 2100 Euros, respectively. Let’s say you get your account verified which is further divided into three tiers. The first tier has the daily transaction limit of 350 Euros. When it comes to the weekly and monthly limit, the values rests at 1050 Euros and 4200 Euros, respectively. If you have a tier two verification status, your can transact 500 Euros daily. While the weekly and monthly limit is 3500 Euros and 14000 Euros. Now comes the last and third tier security verification type. If you’re through this, then you’re entitled to transact 35000 Euros daily. The weekly and monthly limits rest at 245000 Euros and 500000 Euros.

One should note that LiteBit.eu is offering dedicated affiliate and referral programs. If you sign-up for that, one can get access to over 0.5% of the first order amount as commission for every referred customer. What comes as a noting fact is that if you’re a developer or miner, you can easily add your own cryptocurrency on this platform, thus unlocking the chances of commendable returns and exposure. If you’re looking forward to joining LiteBit.eu fo leverage trading, that might not be a wise choice. Exchanges like Poloniex, GDAX, Bitfinex are the ones offering the leverage trading type of service. LiteBit.eu is not regulated by anyone, the exchange neither falls in the financial jurisdiction of Dutch or Europeans. One should note that the Netherlands is one of the most crypto friendly countries at this very moment. LiteBit.eu offers its customers an around the clock wallet which can further be used with an array of e-wallets for merchandise shopping and payments. LiteBit.eu was twice a victim in hacking attempts in the fiscal year 2017. However, the company claimed that no client data was leaked or compromised.

LiteBit.eu’s team

When it comes to LiteBit.eu’s founder, the crypto platform was founded by Rogier Fischer. He’s an alumnus of the Delft University of Technology and previously was a programmer at 42bits. Rogier has also worked with Xanedo as a junior programmer. LiteBit.eu has been listed under United Bitcoin companies the Netherlands and the above-mentioned transaction limits have been kept to strictly comply with Anti Money Laundering (AML) rue.

How to trade on LiteBit.eu?

Before strolling over to how to actually trade on LiteBit.eu, let’s first know about the fee structure of the platform. Fees here solely varies on the type of coin you’re trading with. Apart from the asking price, a user is liable to pay both, the transaction cost as well as the blockchain charges. If your order is below 500 Euros, the fees can be slightly higher. The mining fees of LiteBit.eu is applicable on every transaction a user makes, this type of fee is paid directly to the servers once the transaction has been verified. If the fees are unpaid, the transaction will be failed as well.

The service fee rests at 0.42 Euros per buying process. Thus, in a nutshell, LiteBit.eu has a higher transaction fee when compared with rest of the European or other major crypto exchanges. One should take utmost importance as a user while trading on LiteBit.eu, you’re strictly required to be over 18 years of age. The user interface of the website is fairly simple. If you’re a new user you might find this portal very overwhelming. However, if you’re an experienced trader, you can start trading in a matter of a few minutes after the account setup.

Talking about how to actually buy a crypto on LiteBit.eu, you should be in possession of a working and funded LiteBit.eu account. Once you have it, you can easily make a transaction. If a user is looking forward to buying a crypto let’s say Bitcoin, you can simply stroll over to Buy section of the dashboard. Further, you’re required to input details such as amount needed and the prices will be shown automatically in Euros. The next step is to pick your payment address. One can also make use of cold wallets available in the market such as Exodus and more. Once you’re through terms and conditions, you can certainly click on next. A customer will be able to see order summary as well. What comes as an important fact is that, you can also apply coupon codes for added discounts.

There might be a case when you’re required to sell your cryptocurrency. The process is robust and fast. First, a user should stroll over to Sell section and select the crypto they’re currently holding. The next step is to pick the favoured amount which is shown next to the price. Also, you should note that don’t forget to enter your payment address as well. Why? Well, if your transaction fails, your refund will be processed to that address. Also, you’re required to state the name of the account holder as well as the IBAN. After you’re through terms and conditions, you can confirm the complete order request. Frequent traders can observe that there is a difference of a little over 5% between the offered buy-price and transferred sell-price, this is what LiteBit.eu earns.

Apps

According to official sources LiteBit.eu doesn’t offer any smartphone application support for neither iOS, nor Android of any kind.

Create an account on LiteBit.eu

First comes first, you’re supposed to sign-up on the website. Well, signing up on LiteBit.eu is pretty easy. On the form, you’re required to fill details like real name, email id and the desired password. One is also required to select the country of origin. After successful compliance with terms and policy, you can click on sign-up. One of the dedicated security features is two-factor authentication.

You can easily enable it under the security section of your LiteBit.eu account. For that simply stroll over to My Account, then stroll over to the upper right corner and you’ll find settings tab. Then you can proceed to security. Two-factor authentication is advised for securing crypto accounts as the 6 digit generated code changes every 15 seconds. Hence, you simply provide an added shield to your LiteBit.eu account.

KYC

LiteBit.eu strictly complies with the rules and regulations, LiteBit.eu has dedicated three separate tiers of security. As mentioned above, a user can verify their account with desired documents and their daily transaction limit will be updated accordingly. The tier one verification is done through smartphone only which involves entering of a one time password on the verification page.

Now, if you’re looking forward to tier two verification, you will have to provide documents such as bank statement, invoice, government-issues id card, rental agreements etc. When we talk about the third tier of security which enables the maximum transaction limit, you’re required to provide front as well as a back copy of your passport or government id card which bears a photograph of you.

Security

One of the best thing about LiteBit.eu is the abundance of security measures deployed to support the users. Apart from regular two-factor authentication and captcha codes, LiteBit.eu makes use of special website certificate which can help users identify whether the website is really of a copy. As a matter of fact, if you are able to see “2525 Ventures BV [NL]” after a lock icon at the place of the certificate in your URL, then only you’re visiting the official LiteBit.eu website. Thus, we can say that LiteBit.eu is a secured and a trusted trading platform for cryptos. In short, a user is always required to pass through the global identification verification process, which in turn verify the physical, operational and legal existence of the LiteBit.eu.

Conclusion on LiteBit.eu’s review

If you’re looking forward to a fast registration process, a wide variety of crypto coins, the maximum level of security, an intuitive user-interface and abundance of payment methods for fiat currency support, LiteBit.eu can be your out of the box pick. However, the website features a tough verification process which might take several days as well. The exchange fees are relatively higher as compared to others and you can’t make any payment solely in cryptos. Also, when it comes to European countries such as Norway, UK, Sweden and more, they have their own currency conversion charges and thus, conversion rates might not be favourable in a case of a withdrawal. However, when it comes to transaction time, LiteBit.eu offers state of the art service to Dutch clients through the iDeal payment system.

Operated by Payward Inc., Kraken is a cryptocurrency exchange which not under any direct regulation from any government or private agency. Kraken houses a maximum of its coins in cold storage and only keeps a handful of the same for the regular trading course.

Kraken located in San Francisco, California (United States)

Kraken is one of the most respected and established a crypto trading platform in the United States. The exchange claims to be the biggest exchange in the world when we talk about Euro volume as well as liquidity. The crypto platform operates across the United States, Canada, Japan as well as the European Union. One should note that New York is an exception for trading at Kraken. If you’re a crypto enthusiast, you can purchase famous cryptos like Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), EOS, Dash, Ripple (XRP), Monero (XMR), Zcash (ZEC), Gnosis (GNO), Dogecoin (DOGE) as well as other cryptocurrencies. One can also get your hands on fiat currencies like the US dollar, Euros as well as Japanese Yen. What comes as an important fact is that unlike other crypto exchanges, one can do margin trading on Kraken. This is a great news for experienced traders.

History on Kraken

In the year 2011, the founder of Kraken had visited the office of Mt. Gox which was at that time one of the biggest exchange for crypto trading. Jesse Powell is the founder of the Kraken when he was at Mt. Gox, he was stunned how Mt. Gox was hacked and was brought to ground in no time. The reasons were clear to him, Mt. Gox was poorly run and lack of verified accounts, less compliance with laws made customers lose their money. Now, the founder decided to establish a crypto trading platform which was not only safe but more fast and convenient. Moving ahead, Kraken became an established crypto trading exchange in the fiscal year 2014 and during the same time Mt. Gox was hacked again and the losses were in $460 million USD. It was then Jesse further understood that customer trust is necessary to run the crypto trading platform. Kraken the established dedicated links with banks of Japan as well as Germany. Kraken was the first ever crypto trading platform which was listed on the Bloomberg Terminal. If you don’t know what that is, Bloomberg terminal is more like a tool which is currently used by banks and financial institutions around the world.

Kraken garnered the trust of the customers. However, in the fiscal year 2018, there were problems reported at Kraken. The crypto trading platform closed the trades for over seven days in lieu of implementing the updates. However, Kraken has maintained a solid reputation till date and was never being subjected to any major hack. One should also know that Kraken was picked up as the platform which was responsible for transferring claims to the ill-fated customers of Mt. Gox. When the hacks at Mt. Gox occurred, the company went on filing for bankruptcy, it was then Kraken was chosen as a reliable partner for the purpose of facilitating the payments. What makes Kraken unique is the fact that Kraken is one of the very few crypto exchanges which offers trading Bitcoin against the fiat currencies like CAD & GBP. Thus, liquidity is not an issue for Kraken unlike other big players in the market.

Talking about one of the most intuitive features at Kraken, leverage trading is available and it varies from 1:2 to 1:5. It can be said that if you’re a forex trader, you might see the ratio very small. Further moving the transaction fees stated by Kraken on leverage trade, a user is liable to pay a variable 0.01% to 0.02% based on the type of instrument used and the fees is applied once in every four hours. Talking about the fees kept for markers and traders, Kraken charges a different sum from both the categories. If you’re a maker, you are required to pay 0.16% on your every trade & if you’re a taker, a user is required to shell-out 0.26% on every respective trade. If you’re confused with the terms makers and traders, let’s know about it. The taker fee is the bigger fee which is a type of aggressive entry in which a particular instrument is directly bought at the lowest available ask price. In taker fee, a user takes away the liquidity of the market. On the other hand, a user can also place his/her own bid in the order book. The same is then triggered by a different trader who might be willing to lend his asset to you. In this fashion, the original user providers market with liquidity and ends-up paying a lower fee, which is the maker fee.

Kraken’s team

The Chief Executive Officer and co-founder of Kraken is Jesse Powell. He is a crypto evangelist and has over 15 years of experience in virtual goods and investment domains. Jesse is also working on an open-source Gmail script called the “Elephant Grass”. The script is being developed for the purpose of gaining control over Gmail Bitcoin-powered spams.

How to trade on Kraken?

Before knowing how to start trading on Kraken, let’s first know about the payment methods which can be used to fund your account. Kraken is accepting both, cryptocurrency and fiat currency as payments to fund accounts. One can easily fund their Kraken account by simply logging into the funding section in My Account and then clicking on the deposit button.

If you’re looking forward to making a wire transfer, you should note that the service is only available for users who hold a tier 3 or tier 4 security clearance by Kraken. You can know more about the KYC process by referring to the below section. When you have a verified and running Kraken account, you can access the trade interface by simply referring to Trade section in your account and then clicking on the Cryptowatch in New Order.

If you wish to enter an order, you’re required to fill the order form which can be accessed on the top-right corner of the screen. If you’re looking forward to viewing your old orders, positions or trades of any kind, you can simply stroll over to the lower screen and can view the same. There comes a time when you’re required to select the currency pair, this can be achieved by selecting the Currency pair option on the upper left portion of the screen, just below the Kraken’s logo.

Deposits can be made under the Funding section which is available under the Menu tab. If a user wishes to make a trade, they can simply click on the Trade tab in the Menu and further stroll over to New Order option. Then, you’ll be required to enter details such as quantity, preferred payment currency and more, then click on confirm.

Apps

There is an official mobile application available by Kraken for iOS users. The app was launched in the fiscal year 2014 and since then, it’s enabling easier trades and news access to users. The interface is state of the art. You can simply enter your Kraken API for the purpose of viewing your balance and running orders. Market data can also be accessed on the application. Functions like, pair selection, trade execution and more can also be done through Kraken official iOS application.

Create an account on Kraken

Setting up a dedicated Kraken trading account is easy. One should also know that Kraken has featured extra features on the sign-up page itself for the purpose of securing the user account and protecting the data. Kraken complies fully with Know Your Customer as well as Anti-Money Laundering guidelines stated by the US regulators. After you visit the Kraken website, the first step is to provide your email id and create a password. One can even enable the option to share a PGP public key which can be used by Kraken for additional protection of your account.

PGP is pretty good privacy and is used by Kraken while they are sending you any emails. Further, you’re prompted to establish a master key and this provides another level of security to your account. The second step during the account setup is to verify your email address. Kraken will mail you a link as soon as you sign-up with them. Upon a successful email verification, your account will be available for an access and you’ll be provided with tier 0 security status. Signing up at Kraken can take anywhere from 5 to 10 minutes.

KYC

There are several tiers available for accounts at Kraken. Tier 0 is the default tier which is obtained as soon as you confirm your email address with Kraken. A user at this level can move around the platform and can experience the interface. But, you can’t make any deposit or withdrawal at this level of security. Further moving, Kraken only asks for basic detail about a user while he/she is setting up a tier 1 or tier 2 account type. For tier one verification, you’re required to provide details such as full name, country of origin, date of birth and even your contact details. After this, a user can deposit and withdraw only digital currency at Kraken. Tier 2 provides exclusive features and enables a user to start trading in digital currency.

Also, depending upon your country, you might be eligible for fiat currency funding as well. This level of security is achieved when you submit the address proof. The tier 3 level of security involves higher funding limits. If you’re an experienced trader and are looking forward to higher limits than tier 2, then you can simply upload your identity proof as well as address proof. The last and highest level of security account is tier 4, best suited for corporate trader or individuals with high-volume, the privileges can be granted by simply signing up a physical application form to Kraken as well as supported KYC documents.

Security

Kraken is known best for the array of security procedures deployed. The crypto is stored in cold storage wallets which are further air-gapped. In simpler terms, the funds are kept in the type of wallets which are not connected to the internet and are further kept at a physically secured location. Commenting on the system security, Kraken makes use of locked servers as well as the locked racks which are further protected by armed guards. The data on the system is encrypted on a regular basis. Kraken also keeps their internal network and client upload data separated. This, in turn, means that people working at Kraken can only access your account for the purpose of account verification and customer support, nothing else. One should note that Kraken keeps extensive reserves in the bank accounts for the purpose of catering against the liquidity shortfalls in the fiat currency which might happen.

Conclusion on Kraken’s review

Offering around the clock customer support backed by extensive support guide, Kraken also offer technical assistance through support tickets. Apart from that, the security measures are rigorous and are meant to keep the accounts secured at any cost. The user interface is pretty intuitive and the trading process is simple as well. Thus, for beginners as well as the experienced crypto enthusiasts, Kraken can be an out of the box pick for them. The applicable fees for regular as well as leverage trading are pretty reasonable as well.