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 Cashierest consists of four parts: general information, fees, deposit methods and security.
Cashierest is an exchange registered in one of the Asian crypto countries: South Korea. The company director of this exchange is Mr. Won-Joon Park.
South Korea is – together with Hong Kong, USA and the United Kingdom – one of the bigger country players in the world of cryptocurrency. It is the home of 14 exchanges listed in our Cryptocurrency Exchange List: this one (Cashierest), Coinbit, Coineal, Allbit, Bithumb, Coinone, Korbit, GDAC, Gopax, Upbit and CPDAX.
This trading platform, which launched in June 2018, has a quite large number of supported cryptocurrencies. At the day of writing this review, 4 April 2019, they had 64 trading pairs. As for liquidity, we have no clear data to provide. On the date of last updating this review (21 March 2020, right in the middle of the crisis with COVID-19), neither Coinmarketcap nor CoinGecko had any information on trading volume for this exchange. That is definitely a red flag, so be cautious.
As for the platform, the exchange claims that it is based on advanced technology. It is allegedly built by the company Newlink, consisting of a group of professional developers with more than 10 years of experience.
The exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe (but we do not guarantee) that US-investors can trade here.
Cashierest 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. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. This is the trading view at Cashierest:
Cashierest Trading fees
Trading fees are naturally very important. 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 don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.15% of the order value. 0.15% is below the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
Cashierest Withdrawal fees
Cashierest charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is slightly above he industry average, as the industry average is 0.000812 BTC per BTC-withdrawal.
Nevertheless, the fees at Cashierest are competitive.
This exchange accepts fiat currency wire transfer deposits. But, only if you deposit KRW. USD, EUR, GBP or any other fiat currency deposit than KRW can’t be deposited there. In any event, the exchange qualifies as an “entry-level exchange”, making it possible for new cryptocurrency traders to take their first steps into the cryptocurrency world at this platform. Credit card deposits are however not possible.
If you are a new crypto investor and you wish to start trading through a credit card deposit, you can find an exchange offering this option by using our Exchange Finder tool.
Finally, we run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Cashierest received an F-score in this test. When looking at all the exchanges in our Cryptocurrency Exchange List, the majority of all exchanges actually receive an F-score. So it shouldn’t lead you to believe that the exchange necessarily has poor security.
The exchange also states on its website that it uses a “backup system through hardware wallet” in order to store cryptocurrency securely. Furthermore, they “promise absolute security through a variety of security solutions for the sake of safe trading site.”
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):