Cryptology is a cryptocurrency exchange that we’ll cover in detail in this article. We’ve written this article with the help of insight directly from the Cryptology team.
General risk warning when trading cryptocurrencies: The FCA advises that you should not trade cryptocurrencies with money you cannot afford to lose as your capital is at risk and even the best cryptocurrencies to invest in can be highly volatile and traders can lose money when trading.
There are specific characteristics to consider when choosing a cryptocurrency exchange. Below are the features or factors that the Cryptology team pride itself on:
- Ease of use of the platform
Users can expect fast operations since the platform is simple. You do not need any knowledge to know how to trade. As a result, processes take place fast, saving you time.
2. No high fees
Cryptocurrency exchange platform fees can discourage users. If the entry, rollover, and exit charges are high, you will hesitate to use the site and look for alternatives.
At the Cryptology website, you have nothing to worry about as far as fees are concerned. The platform is currently offering fee-free services.
Availability of the service is the main thing to consider before joining a crypto exchange. It will save you from wasting time opening an account on a website that does not operate in your region. The service is unavailable in the US and Japan.
4. Cryptocurrency exchange pairs.
Cryptology supports many pairs. Thanks to that, users can analyze a lot of markets.
5. How simple it is to acquire funds.
The cryptocurrency exchange also offers quick and straightforward withdrawal services.
After learning about the characteristics, you need to know the registration process, how to get verified, the advantages and disadvantages, and everything else regarding the platform.
The crypto exchange overview
The online platform is for cryptocurrency futures and exchanges. The site is among the trading places whose fees are low. New users even receive a bonus upon making their first deposit.
Currently, traders are using the platform for free. However, they receive one hundred dollars when they make their first payment of the same amount. After that, everything leverages up to 100x.
In 2021, the best app for cryptocurrency exchange came up with the Earn feature. The passive income tool allows people to acquire numerous cryptocurrencies and even some stable coins.
What you can do using the Earn feature:
- The feature allows investing with a bank card.
- Users can monitor their daily earnings.
- It is possible to withdraw money.
- Customers can reinvest the funds.
Users earn depending on the currency. Below is what you might be able to expect from different currencies:
- USDC and other stable coins can give 15% per year.
- Investing in bitcoin could provide you with 8% annual earnings.
Do not expect to incur any fees when using the feature.
Joining the platform
As mentioned earlier, one of the main characteristics of Cryptology is simplicity. So, everything from signing up and using the platform is designed to be smooth.
Becoming a member requires people to fill out a registration form. The details needed include name, email ID, and password. The trading company has terms and conditions like every other business. You cannot access any features if you disagree with them.
The site also permits registration via a Google account.
There are two kinds of memberships on the Cryptology trading website. You can open one of the following accounts:
- Institutional aka Global account
The personal account allows trading services only. The Global version permits fiat money deposits through wire transfer methods or bank cards.
You can also withdraw fiat and crypto with a Global account. If you have a personal account, you can only get funds using your payment option.
The personal account also permits fiat money and crypto deposit. However, you cannot withdraw fiat.
You can send money through a Visa or Mastercard.
The Global account owners can withdraw fiat money through wire transfer.
How to get verified on the Cryptology trading platform
The cryptocurrency company sticks to the KYC requirements. You cannot use the service without getting verified. As the best cryptocurrency books explain – this might feel onerous but there are long term benefits in choosing an exchange that takes the necessary precautions to comply with laws and regulations, and those same rules are also designed to protect clients.
- Primary: You need a passport, government identification card, photo, and a driving license to pass the step. The verification gives users a $10,000 limit.
- Complete: You need address proof to pass this step. The verification removes limits.
Futures trading and spot exchange online services
Both the futures and spot exchange platforms are interactive and easy to use.
What do you find in the exchange? Expect to see an order book, trading history, a chart, and the order form that lets customers trade.
What about the futures trading platform? The platform is not different from the exchange. All activities are the same except that you can select leverage the Futures platform.
UK readers please note that trading crypto derivatives are not permitted in the UK at the time of writing, so this feature would not apply to UK investors.
The fees and payment options
Every Cryptology user gets charged 0.002 BTC in fees.
The fiat fees are 2.65%.
The company charges the amount on minimum deposits of $25 made through credit and debit cards. The minimum deposit is twenty-five dollars.
If you reside in Brazil, expect other payment services. The amount charges for deposits as low as $1 range from 1.7% to 3.6%.
The EUR SEPA deposits of as low as one Euro cost 0.45%.
If you are fully verified, you can use a wire transfer at no cost for a minimum of $25 deposit.
Institutional accounts holders can withdraw fiat money through SEPA accounts. The fee is 7 for a minimum withdrawal of 50 Euros.
Cryptology has conditions for transacting digital assets. Members also need to be aware that there are assets that can’t get withdrawn.
Which countries does Cryptology cater for?
The best beginner cryptocurrency exchange is global. It is currently not accessible in Japan and America.
The trading platform pairs
- BTC/USD Perpetual
- ETH/USD Perpetual
- EOS/USD Perpetual
- MKR/USD Perpetual
- SNX/USD Perpetual
- TRX/USD Perpetual
- XLM/USD Perpetual
- YFI/USD Perpetual
- BCH/USD Perpetual
- LTC/USD Perpetual
- ZEC/USD Perpetual
Again, please note that only spot exchange trading is permitted for UK traders due to FCA rules.
Benefits and drawbacks of the service.
- Customers can expect an excellent support system. The agents work around the clock, and they attend to customers within the shortest possible time.
- When you make your first deposit of $100, expect a bonus of the same amount.
- 100x leverage on Futures trading (non UK traders only)
- The lowest order size is 0.10.
- The trading service is available in most countries.
- The spot exchange lacks margin trading.
- You need a Global account to withdraw fiat money.
The cryptocurrency exchange platform has impressive features and benefits. Provided you are not in the US or Japan, consider giving it a try.