TradeSatoshi Cryptocurrency Exchange Review
TradeSatoshi is an exchange directed towards cryptocurrency beginners and is a more simplified platform than other markets, and opened in 2015. Although it has less features than other exchanges, it is easy to use, and the website allows for quick navigation. It does not take much time to learn how to use the site and offers relatively low fees.
The platform allows you to buy and sell cryptocurrency, and read information about current coins and market conditions.
What Does TradeSatoshi Do?
You can use the market to buy or sell coins, and it provides spreadsheets and charts demonstrating current trading values of cryptocurrencies.
The company opened in 2015 and is based in London, England. Currently, you can only buy and sell coins and cryptocurrency, and the site does not support FIAT currency (Dollars, Pounds, etc;).
TradeSatoshi is available in every country and doesn’t restrict users regardless of their nationality.
They offer two levels of membership. Level 1 trades have a daily withdrawal limit of $2,000.00, and Level 2 has a daily withdrawal limit of $5,000.00.
Opening an Account
It is free to open an account. Registration requires that you provide your full legal name, email address, and birthday. After your personal information is validated, you will receive a verification email. All you need to do is click the link in the verification email and log in. You can start trading immediately.
TradeSatoshi charges a fee for every transaction, and the fee is based on what cryptocurrency you are trading.
Users can activate a two-step verification process, email notification and public and private APIs. Users can collectively vote on whether new coins should become available on TradeSatoshi. The website is mobile friendly, and the site offers quick support. They also have secure serves to prevent hacking.
What Users Say
TradeSatoshi has received mostly negative reviews. Users have complained about high withdrawal and transaction fees and delayed responses to support inquiries, website malfunctions, and security issues. Previous users have complained of losing funds and support failing to respond quickly.
To enhance security, TradeSatoshi runs its server DDoS mitigation. Users can store their coins offline, and all trades and transactions are backed up. Additionally, coin wallets are also stored offline.
Speed of Website
Although TradeSatoshi states it has fast transfer times, transfers can be delayed by up to 18 hours. The site has also gone offline for unplanned maintenance.
Although there are daily withdrawal limits, there are no limitations on how much can be deposited. Users can deposit coins or currency.
To make a deposit, search for the coin you want to deposit, select “Create Address,” which generates the address to which your deposit will be sent. When you receive your address, click on deposit, and a QR Code will appear which you can copy or scan.
TradeSatoshi is simple, user-friendly, and easy to navigate. It is a great market for novices, but has struggled with security issues and delayed the transaction.