US investors permitted
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 Cash2PM consists of four parts: general information, fees, deposit methods and security.
Cash2PM is a Russian cryptocurrency exchange. It feels unfair tospeak about a Russian cryptocurrency exchange without also mentioning YoBit, one of the first to ever exist. So there, now it’s mentioned.
This exchange does not explicitly forbid US-investors from trading on its exchange. But, US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
If you want to trade the less known coins (Ethorse Coin, Octoin Coin, Origami Network Token, Taler Coin, Transcodium Coin, or any coin with a similar market capitalization to those), you’ll have to look elsewhere.
Cash2PM Trading fees
This exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The services offered relating to cryptocurrencies are, as far as we can see, selling BTC and receiving USD through the payment services Western Union, MoneyGram, Contact or Unistream. For such a sale, both Cash2PM and the chosen payment service provider charges a fee. For selling 1 BTC, the payment service providers charge as follows:
Western Union: 281 USD
MoneyGram: 300 USD
Cash2PM charges 20%. Needless to say, this is ridiculously expensive. The fees are absolutely barbaric and we would rather eat glass than use this service. But hey, each person out there should make their own choices.
Cash2PM Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant as it is built into the above service.
The methods available for deposit are set out above.
Cash2PM’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.
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):