A trading cryptocurrency guide must of course provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of AlfaCashier consists of four parts: general information, fees, deposit methods and security.
AlfaCashier is an exchange based in Belize that was founded in May 2012. In our categorization, “exchange” is the word that most properly describes AlfaCashier. However, they prefer to be described as a “service where you instantly convert one type of assets to another”. This means that you can’t for instance give a your own ask price or bid price for a certain transaction.
The exchange does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still perform their own analysis of whether their home state imposes any legal obstacles to them trading at any of the top crypto exchanges that could be the best cryptocurrency exchange site for them.
AlfaCashier Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. At this exchange, the primary interface is simply an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the primary purchase interface at AlfaCashier:
AlfaCashier Trading fees
The fees at any exchange are very important to consider.
AlfaCashier offers a flat trading fee of 2.00%. Accordingly, this exchange does not care about whether you are a taker or a maker. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.
AlfaCashier’s trading fees of 2.00% flat are far above the industry average which is around 0.25%. One should strongly consider whether this exchange has a strong offering to investors in other respects that outweighs the disadvantage of this substantially higher trading fee.
It should be noted here though that many exchanges (including AlfaCashier) have trading fees that are reduced as volumes are increased or new trading levels are reached, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts. The discounts at AlfaCashier are as set out in this picture:
AlfaCashier Withdrawal fees
AlfaCashier claims to not charge any withdrawal fees at all for withdrawing BTC. This is a very strong competitive edge in the market if true and really distinguishes AlfaCashier from most other top crypto exchanges.
This trading platform offers both wire transfer and credit cards as a deposit method. This makes the exchange available also to new cryptocurrency investors without any previous holdings of cryptocurrencies. It also qualifies AlfaCashier as an “entry-level exchange”. The following picture stipulates all of the available deposit methods at AlfaCashier:
One might also ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. The answer is two-fold:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Exchanges handle a lot of cash or coin deposits and withdrawals.
AlfaCashier has a security score of C, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with the industry average when it comes to top crypto exchanges.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):