How did your journey in the world of cryptocurrencies begin? I avoided cryptocurrency exchanges because many of their features seemed to be redundant, and their huge number only scared me off. However, as time went by, all these features turned out to be very necessary for me, but I remained a connoisseur of the BTC futures exchange sites for novice and advanced users, where each of them could feel comfortable.
Therefore, I began to think about what indicators such a cryptocurrency exchange platform could have to help other traders and investors find it for themselves.
Cryptology is a high-quality crypto exchange platform that is equally friendly for beginners and convenient for professionals. By its example, we will consider how important it is for the platform to be oriented for beginners too, and how exactly it should be.
I’ve highlighted a list of six parameters that should be evaluated to see how well the platform is suitable for beginners and how good it is, in general, for trading futures without commissions. Also, I will cover many of the features of Cryptology in this discussion.
- 1 Six Important Points When Choosing a Cryptocurrency Exchange
- 2 Cryptology Review: Exchange with no Fees for Everyone
- 3 Cryptology Earn Review: Some New Feature
- 4 Cryptology Registration
- 5 Verification
- 6 Exchange Functions
- 7 Fees, Deposits, and Withdrawals
- 8 Countries
- 9 Available Pairs
- 10 Spot Exchange
- 11 Pros and Cons
- 12 Verdict
Six Important Points When Choosing a Cryptocurrency Exchange
If the platform is too big, crowded with different functions and operations on the way to the exchange, you can lose the benefit of the exchange literally in front of your eyes. Therefore, the exchange process should be designed as fast and simple as possible.
If the service charges for each operation and the price is high, then you spend a huge part of your profit to serve the service, while the service should serve you and do it for a reasonable fee.
Trading is the same kind of financial activity as any other job, so it is taxed by the state. However, the BTC futures platform cannot accept account verification of the documents of those persons in whose countries they do not have a license to operate. Therefore, the more countries that support the platform, the better.
Leverage is very important for any trader because it minimizes risk and allows multiple people to win at once.
Number of Pairs Available
Only major currencies or all possible currencies? It’s a matter of what you like to work with. For one, all currencies are unnecessary, and for someone else, it’s a necessity. There is no unequivocal opinion here.
Quick and easy withdrawal of funds is one of the main reasons why cryptocurrencies are superior to fiat money. If an exchanger complicates this process, it contradicts the very basis of cryptocurrency and that is a very serious disadvantage.
Cryptology Review: Exchange with no Fees for Everyone
Cryptology offers services to buy crypto without commission. From August 1 to September 30, 2021, the fee is 0%, and you can get a $100 bonus on the first deposit of $100. In addition to this benefit, we will look at some others, as well as some cons and some other specials.
Cryptology Earn Review: Some New Feature
In September, Cryptology offers a service for passive income that allows investment with bank cards permanently. Of course, users can reinvest in another currency if they wish.
The service allows you to invest in different currencies and the annual percentage will depend on that. For example, in the case of bitcoins, this is 8%, and with other stablecoins, 15%.
Registration goes by filling out a form on the site by entering your name, address, and e-mail. Also, it can go by using sign-in with a Google account.
You can create a Trading Account, or you can create a Global Account as well.
Trading Account lets you deposit fiat money and cryptocurrencies, but withdraw only cryptocurrencies. You can also use bank cards for the European Union to deposit fiat money, but to withdraw fiat money you will need a Global Account.
Global Account allows you to deposit and withdraw fiat money and cryptocurrencies using bank transfers and cards. You can withdraw fiat money only to the same account you deposited it.
On Cryptology, you have two options to verify your account. Basic and Full.
The basic one only requires you to upload a scan of your ID card and take a selfie with it in hand. This can be a passport, driver’s license, or another state-issued id. This will raise your trading limit to $10,000
The full also requires confirmation of your address and then removes all limits, because now there will be no questions about taxation from the state to the service.
For the exchange, you can find a convenient order book, the trade history, a chart by TradingView, and a form of order, which are implemented simple and understandable.
For the futures, it’s the same, except you have the leverage.
Fees, Deposits, and Withdrawals
The fees are the same for makers and takers and are 0.002 for cryptocurrency. Regarding fiat funds, the commission is 2.65% on deposits from debit and credit cards, and the minimum deposit amount is $20.
For Brazilian users, the minimum deposit is $1 and the commission can range from 1.7% to 3.6%.
EUR SEPA minimum deposit is €1 and commission 0.45%.
For the users who passed the full verification and used bank transfer, there is no commission.
Withdrawal of fiat money is available only for full verified accounts using SEPA and the commission is €7, and the minimum withdrawal is €50.
Cryptology BTC futures trading site is available all over the world except the USA and Japan. It is especially popular in Germany, Holland, and Italy.
You can exchange BTC, ETH, EOS, MKR, SNX, TRX, XLM, YFI, BCH, LTC, ZEC to USD.
BTC, ETH, XRP, XLM, BCH, LTC, ZEC, USDT, USDC, DAI, BAT, and TRX.
Pros and Cons
- Support. Great support service, which helped me especially a lot at the beginning of my registration and activity on the platform.
- Bonus. A $100 bonus on your first deposit.
- No fees. No fees for fully verified accounts and no fees until September 30, 2021.
- Futures Trading. Leverage of x100.
- Minimum order. The minimum order is only $0.10.
- Worldwide Available. Except for the U.S. and Japan, this is truly a global exchanger.
You can only withdraw fiat funds from a global account, not a personal account.
There is no margin trading on spot exchanges, forcing some to look for this feature on other platforms.
By the example of Cryptology, you can make sure that there are simple and high-quality exchangers to buy crypto online that offer a lot of financial instruments and create attractive conditions for traders with any goals and experience. Pay attention to each aspect. Be careful when choosing a trading platform, because it can greatly affect the time and quality of your work with finance.