US investors permitted
Brighton Peak – Detailed review
A trading cryptocurrency guide must 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 Brighton Peak consists of four parts: general information, fees, deposit methods and security.
PLEASE NOTE THAT THIS EXCHANGE IS CURRENTLY NOT AVAILABLE.
Brighton Peak is a cryptocurrency exchange headquartered in the land down under – Australia. Other exchanges from the same country includes, inter alia, TOPBTC.
At Brighton Peak, trades are conducted through US-based third party provider AlphaPoint, which allegedly provides a level of security similar to what you’ll find when trading through a bank or another reputable exchange. But, regardless of using US-based AlphaPoint, the exchange does not permit US-investors.
A number of top crypto exchanges don’t charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”. Brighton Peak is one of those exchanges offering a flat trading fee of 0.50%. The exchange does accordingly 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.
Brighton Peak’s trading fees of 0.50% flat are above the industry average which is around 0.25%. One should consider whether this exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.
Brighton Peak does not charge any withdrawal fees at all for withdrawing BTC. This is a very strong competitive edge in the market and really distinguishes Brighton Peak from most other top crypto exchanges.
At Brighton Peak, you can only deposit via wire transfer and not via credit card. This might of course be disadvantageous if you would prefer to use your credit card for any reason. You can not deposit cryptocurrencies either, which is quite unusual.
Brighton Peak claims that they hold only a small portion of the bitcoin in a “hot” (Internet connected) wallet at any given time and thus have the majority held in a “cold” (offline) wallet. The cold wallet is said to be insured.
Furthermore, traders need to verify their accounts before they can start trading.
Irrespective of the above security measures, Brighton Peak’s security score is F when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.