Generally speaking, Cryptology is a user-friendly digital money exchange platform. It’s well-liked by both newbies, investors, and experienced traders, as the exchanger offers many benefits. It’s gained huge popularity due to the fact it has very low fees (0% for futures trading) and a welcoming bonus of $100 for the first deposit. In this review, we’ll show you how easy the program is in use, what pros and cons the platform has, and in what way it can help you to make a profit. But first, let’s start with the basic characteristics every reliable crypto trading utility is supposed to offer.
The Fundamental Characteristics of a Cryptocurrency Exchange Platform
Altogether, there are 6 basic characteristics you should pay attention to if you want the crypto trading process to be a lot easier:
- Low Fees. Rollover, entry, and exit charges should be as low as possible. Otherwise, you are risking your money to be wasted due to unnecessary fees.
- An easy exchange ensures faster operations. Nine times out of ten, user-friendly platforms provide greater speed. And this is an essential factor for trading.
- Geographical availability. Checking the list of restricted countries is a must-do. Otherwise, signing up, setting up a utility, and undergoing verification will be a waste of time. The more countries the platform is available in, the better.
- The number of trading pairs. The availability of cryptocurrency pairs allows you to compare costs between different coins. Usually, the more pairs there are, the better. But it’s up to you whether to focus on the key currencies only or to check the whole market.
- The higher the leverage, the less own funds will be required to trade/exchange crypto.
- Easy Withdrawal. The process of drawing out money should be instant and simple. Commission fees are also important. Before signing up to a platform, it’s better to check available payment mediums and their features.
Based on these characteristics, so far, Cryptology is one of the best platforms to trade BTC futures and other coins.
1.Passive Income with Cryptology? Possible!
In September 2021, a new service was launched – Cryptology Earn. The latest feature ensures passive income with easy setup. Numerous cryptocurrencies and even some stablecoins are available for earning. Deposits can be made via bank cards, and they are free of charge.
The size of earnings depends on the chosen currency. For stablecoins, the income bracket can be 15% on an annual basis. With BTC, the maximum yield is 8% per year.
2.Registration
The registration procedure is extremely easy, just follow the next steps:
- Fill in an online form with your full name and email address.
- Create a password.
- Accept the Terms of service (check the appropriate box).
- You’ll be sent a confirmation letter on the indicated email. Follow the link in it. Signing up is done!
As for account types, you have 2 options: you can choose either Trading (personal) or Global Wire account. They slightly differ:
- Global accounts support deposits and withdrawals via bank transfers mainly (both in fiat currency and digital money). Yet, fiat currency can be drawn out to the Single Euro Payments Area account only.
- Trading accounts allow users to deposit both fiat money and digital currencies. But only digital money can be withdrawn.
3.Verification
The “know-your-customer” rule implies you have to undergo 2-step verification to be able to use the Cryptology platform without limits. The first phase is called “Basic Verification”. You’ll be asked to provide a scan of your ID/passport/driver’s license and take a selfie with the document. Until your identity is checked, the limit for the account is $10,000.
The second step is “Full Verification.” During this phase, you need to prove your place of residence. You may need to upload copies of recent utility bills. Once you’ve undergone 2 steps of verification, all the limits will be removed.
4.Fees, Deposits & Withdrawals at Cryptology
As of the time of writing, you can sell or buy crypto with a 0.002 free. But this value can change based on a particular currency trading volume.
By making deposits in fiat currency by bank cards, you will be charged a 2.65% fee for refilling the account with a $25/€20 minimum. In different counties, the commission may vary. Thus, in Brazil, the deposit fee is from 1.7% up to 3.6% for a minimum deposit of $1. In the Single Euro Payments Area (SEPA), the minimum deposit sum is €1 with 0.45% fees. Wire transfers, in turn, are free of charge. Yet, you have to deposit at least €25 using this option.
Talking about withdrawals in fiat money, they are available for Global Wire accounts only. The minimum sum for drawing out is €50 with a €7 fee.
5.Countries Available
The Cryptology platform is available around the globe. The exceptions are the United States and Japan.
As of the time of writing, there are no preconditions for the safest BTC futures trading utility to leave the market. Even in countries like Germany, Holland, and Italy, where the situation with crypto trading is complicated, Cryptology will still provide its services.
6.Trading Pairs on Cryptology: What Are Available?
The cryptocurrency pairs are slightly different for spot exchange and futures trading. The list of the latter includes:
- Bitcoin/USD
- BTC/USD Perpetual
- ETH/USD Perpetual
- Maker/USD Perpetual
- EOS/USD Perpetual
- TRX/USD Perpetual
- Stellar/USD Perpetual
- SNX/USD Perpetual
- BCH/USD Perpetual
- Litecoin/USD Perpetual
- YFI/USD Perpetual
- ZEC/USD Perpetual
As for the spot exchange, the number of pairs is larger and includes:
- XRP
- XLM
- USDT (Tether)
- USD Coin
- BCH
- BTC
- ETH
- BAT
- DAI
- LTC
- ZEC
- TRX
Trading with fiat currency can be done with US dollars, Euro, and Ruble. What is more, in July 2021, Cryptology made public the enrollment of Stasis Euro (EURS). In the future, the list of pairs is likely to increase even more.
7.To Sum Up
Summarizing all the mentioned details, we’ve outlined some benefits and drawbacks of the Cryptology platform.
PROS
- Customer service – we’ve tried out the support service via email. We asked a few questions regarding registration and verification processes. The support team replied in 10 minutes, providing full details.
- A lucrative welcoming bonus of $100 for the first $100 deposit.
- From August 3 to September 30 (2021), there is a zero fee for futures trading of BTC and other cryptocurrencies.
- The leverage for Futures is up to 100x.
- Low limit for order sizes – $0.10 (or its equivalent) is the minimum for placing the order.
- Cryptology is available in almost all counties around the globe.
CONS
- Personal accounts don’t allow withdrawals in fiat money.
- There is no margin trading on the spot exchange.
That being said, we hope this Cryptology review will help you decide whether the crypto exchange platform is profitable enough for you. Don’t miss a chance to use its lucrative promotions while they’re still active!
t: The best cryptocurrency exchange 2022 review
d: Cryptology is among the top 10 cryptocurrency exchanges. The designers ensured to come up with a straightforward trading service for both beginners and experienced traders. The platform has impressive features, low fees, and customers can earn passive income.