Artis Turba Review
Artis Turba is a cryptocurrency exchange from South Africa. It launched in September 2018.
This platform supports trading in the following cryptos: ARTIS, BTC, ETH, DGB, TRX, BTT, BNB, XLM, XMR, XRP, ETN. As you surely know, these are all major cryptos in the industry so the risk that you would purchase crypto at this platform that later turns out to be scams should be considered as low.
On the date of first writing this review (4 September 2020), the platform's 24 hour trading volume according to Coinmarketcap was 0. None of the the trading pairs at the exchange had any reported trading volume. The flags don't get any redder than this and it seemed as if this exchange was about to close down any time. It is not possible to sustain a cryptocurrency exchange financially without having any trading at the exchange.
On the date of last updating this review however (3 March 2021), the 24 hour trading volume had climbed to USD 18,211. This is still not an acceptable trading volume, it's far too low, but it's for sure better than 0. At the same date, these were the most traded trading pairs:
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC seems scary is that the US does not allow foreign companies to solicit US investors unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. More cases will likely follow.
It is unclear whether Artis Turba permits US investors or not. We have read their Terms and Conditions and have not found any explicit prohibition of US investors. We urge any US investors to form their own opinion on the permissibility of their trading at Artis Turba though.
Artis Turba Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders concerning the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at Artis Turba:
It is up to you – and only you – to decide if the above trading view is suitable for you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
Artis Turba Fees
Artis Turba Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
Artis Turba charges takers 0.25% per trade. These taker fees are above the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. According to the latest empirical study on the subject, the industry average taker fees were 0.217% and the industry average maker fees were 0.164% (for spot trading). Accordingly, as for the spot trading taker fees, Artis Turba's offering is not very competitive.
But what about the maker fees? Well, Artis Turba actually offers so called negative maker fees (-0.10%). This means that the makers, i.e., the people creating the new buy or sell orders in the order book, get paid to trade.
For example: you are a maker. You create an sell order for Bitcoin, where you sell a certain amount of Bitcoin for USD 10,000. A buyer comes along and accepts your order. You were then the maker in this trade (the buyer was the taker). If the maker fee was -0.10%, as it is at Artis Turba, you would not only get USD 10,000, you would also receive an additional 10.00 USD on top of that.
There aren’t that many exchanges that offer negative maker fees. To see them all and compare them against each other, just check out our Exchange List.
Artis Turba Withdrawal fees
Artis Turba charges a withdrawal fee of 0.0005 BTC per BTC-withdrawal. This fee is also in line with industry average, or even slightly below. The current global industry average is slightly above 0.0006 BTC per BTC-withdrawal so a competitive offering by Artis Turba in this respect.
In addition to depositing cryptocurrency to the platform, Artis Turba also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card). If you need an exchange accepting credit or debit card deposits, just use our Exchange Filters and you'll find one in no time at all.
Seeing as fiat currency deposits are at all possible at this trading platform, Artis Turba qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.