As stated before, Cryptology is a cryptocurrency exchange platform made for novices and veterans alike. They pride themselves on being an easy and fast platform to use. We’ll see if this applies to reality and if it’s worth using this platform. This review takes into account some common aspects on platforms similar to this one. They are Fees, withdrawal of money raised, countries where the platform is available, available Trading Pairs, and usability. Enough said, let’s see if Cryptology is really the best place to exchange cryptocurrency,
Cryptology fees vary depending on the currency of the user’s country. But there is the possibility of rates up to 0%. If you are a new user, this is also a great gimmick for the platform, as the risk of losing money will be lower, and, besides the fee is low, you can get a $100 bonus when you register. But there are also some standard fees on the platform. Are they: The rate for both makers and takers is 0.002%. If you are going to exchange any other cryptocurrency on the platform, the fee will depend on the exchange volume. Deposits made by credit and debit cards have a 2.65% fee with a minimum deposit of RUB1000, €20, or $25. Deposits made with SEPA, with a minimum deposit of €1, have a 0.45% fee. Users verified by the platform can make deposits via bank transfer with a minimum of $25 or €25, with no fee. Depending on how you choose to use the platform, Cryptology proves to have one of the lowest cryptocurrency exchange fees of any exchange platform.
The platform charges a fee of €7 for withdrawals with a minimum of €50. Please note that only institutional and SEPA accounts can withdraw fiat money. As stated earlier, Cryptology has a worldwide reach, but the platform is not available in the US and Japan for some reason.
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The platform features two main categories of usage, Spot Exchange and Futures trading. The two categories are very simple and quick to use. The platform using this as a way to draw attention to itself is fair. Both usage categories have some of the same features. They are Trading History, charts provided by TradingView, Order Book, and Order Form. The Order Form allows users to choose between two other ways of buying and selling cryptocurrencies, market price or limit price. The Future Trading category lets the user choose the leverage they want, this being the only difference between their features.
Registering on the platform is similar to registering on other websites. Some basic information is required; you fill it in, accept the platform’s terms, and you’re done. However, if you want a few more amenities, you can go through the two verification phases that will be detailed later in this article. After registration is complete, you will be asked to choose between two types of accounts, personal and institutional. With the personal account, you can only enjoy the use of the Trading account. With the institutional account, you can choose either the Trading account or the Global Wiring account. Both have some peculiarities, they are Trading accounts: although it allows users to deposit both fiat and cryptocurrency money, only cryptocurrency withdrawal is allowed, which is a drawback for the platform. Global Wire account: similar to the Trading Account, the Global Wire account allows the user to deposit both fiat money and cryptocurrencies. However, with the difference that if using the same account that you used for the deposits, the user can withdraw both. Fiat money can be deposited with either Visa or Mastercard. However, Global Wire Accounts can only withdraw by wire transfer.
Earlier, I had mentioned the possibility of your account going through a verification process that would give you some more amenities within the platform. The user is offered two levels of verification. The most basic verification gives you a $10,000 limit. To perform this verification, you will need to submit a photo of a document in which your face appears and a selfie of yourself next to that document. At the most advanced level of verification, along with the documents, proof of address will be requested. With this, your account will not have any limit.
Recently the platform also launched a new system called Cryptology Earn. This system is responsible for giving the user a passive income with the use of cryptocurrencies. Remember that you must have a bank card to make investments. The feature also gives the user some tools to monitor, reinvest and withdraw their money if needed. Earnings on the platform are not fixed and will depend on some factors, such as the cryptocurrency being invested. Stablecoins can give up to 15% income per year, or 8% on cryptos like Bitcoins. If passive income is your goal, this is a great platform option to keep an eye on. This is a good choice for those who don’t know how to make money on cryptocurrency exchanges but want to place their first foot in the world.
And that’s it; today, we took a look at the Cryptology platform. An easy-to-access cryptocurrency exchange platform that has a wide variety of resources and tools that can help cryptocurrency investors work better on their investments and earnings. It also has a wide variety of crypto-based income options that will be the user’s choice and a passive income platform for those who prefer to relax and wait for the money to fall into the account. An excellent platform option for both new investors and veterans.