UPDATE 13 January 2022: Artis Turba has decided to close down its operations. They announced this in an email to its users with the following contents:
Hello Artisians. It is with regret that we write to inform you that we have decided to shut down the exchange indefinately. The exchange will remain operational for the month ahead with planned shutdown on the 28th of January 2022. Our support email will remain operational for 2 months thereafter until end March 2022. We implore you to withdraw your available funds as soon as possible for your convenience. We thank the community for the love, dedication and support that they have given and wish you all the best ahead! Nigel & Nickey
Accordingly, we have marked the platform as "dead" in our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
Artis Turba Review
What is Artis Turba?
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.
When we first wrote this review (4 September 2020), the platform's 24-hour trading volume according to Coinmarketcap was 0. None of the trading pairs at the exchange had any reported trading volume. This was probably some form of tracking error though, because on the date of last updating this review (2 December 2021), the 24-hour trading volume was reported as USD 548,858 at Coinmarketcap. Although any trading volume above zero is definitely an improvement, the liquidity levels on the exchange are unfortunately still very low.
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
Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what we call “flat fees”. Artis Turba charges 0.15% for takers and -0.10% for makers.
According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.221% and the average spot trading maker fee is currently 0.177%.
Compared to those average trading fees, Artis Turba's taker fees and maker fees are below the industry average.
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.