Cat Exchange Review
A crypto exchange guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of Cat Exchange consists of four parts: general info, fees, deposit methods and security.
Cat Exchange is a crypto exchange that launched in August 2018.
We have not been able to find any information as to where Cat Exchange is headquartered or registered. Absence of information on where an exchange is from is not necessarily a red flag. But, historically, exchanges that have not clearly presented information on where it’s from and who the team members are have been overrepresented among cryptocurrency exchange scams.
On the date of writing this review, 28 June 2019, Cat Exchange was among the top 50 exchanges in the world in terms of 24 hour trading volume/liquidity. The 24 hour trading volume was USD 115.8 million. This was then very impressive, especially considering that the exchange has only been up and running for 10 months. On the date of last updating this review however (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume was USD 800 million, which is an amazing improvement. The place on Coinmarketcap’s list of exchanges in the world with the highest 24 hour trading volumes was then no. 37.
To our understanding, Cat Exchange is also open to US-investors. At least there are not any specific prohibited jurisdictions listed in the exchange’s terms and conditions or user agreements. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
This trading platform has clear information on the key team members running the platform. Such information is always helpful to have, seeing as scam exchanges rarely give it. Accordingly, it gives an extra level of comfort that the exchange does not have malicious intent. The COO is Cameron Kallhoff, the CMO is Aykut Aygun, the CTO is Yuanhang Zhou and the Business Manager is Valter D. Ribeiro.
Cat Exchange 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.
There are two versions of the trading view at Cat Exchange: basic & advanced. The below is a picture of the basic trading view:
And here is the advanced version of the trading view:
Cat Exchange Fees
Cat Exchange Trading fees
This exchange has a flat fee and its amount is 0.10%. 0.10% is substantially below the historical global industry average, being 0.25%. However, we are currently seeing a shift towards lower trading fees in the industry (0.10%-0.15%). Regardless of whether you compare the trading fees with the historical or more current trading fee averages, the fees charged by this exchange are at least not above industry average.
Cat Exchange Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. This exchange’s withdrawal fees are thus roughly 40% lower than industry average.
All in all, the fees at Cat Exchange are competitive.
This exchange does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
Cat Exchange Security
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. Cat Exchange received an F-score in this test. This should however be viewed in light of the fact that F is the Mozilla Observatory-score received by the majority of all exchanges in our Cryptocurrency Exchange List.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following 10 cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: