Chiliz Exchange Review
Chiliz Exchange is a cryptocurrency exchange from Malta. It launched in april 2020.
Chiliz Exchange distinguishes itself in a lot of different ways, but the most interesting way is through their unique "Fan Tokens". A Fan Token is a crypto that gives you the right to vote in certain club decisions. A club decision is a decision for a specific sports club on socios.com. The Fan Tokens also enables you to receive merchandise and VIP-invites from such clubs. Chiliz Exchange has partnered with the following very well-known football (or as they say in the US, "soccer") teams: Paris Saint-Germain from Ligue 1 (France), Juventus and Roma from Serie A (Italy), West Ham from Premier League (England), Atlético de Madrid from La Liga (Spain) and Galatasaray from Süper Lig (Turkey).
Chiliz Exchange Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that Chiliz Exchange’s trading platform is also mobile compatible. You can download it to/from both the AppStore and Google Play.
Chiliz Exchange 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 with respect to 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 Chiliz Exchange:
It is up to you – and only you – to decide if the above trading view is suitable to 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.
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 is so scary is because 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. It is very likely that more cases will follow.
Chiliz Exchange does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our Exchange Filters, you can sort the exchanges based on whether or not they accept US-investors.
Chiliz Exchange Fees
Chiliz Exchange Trading fees
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. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
Chiliz Exchange charges what we call flat fees, meaning that both the takers and the makers pay the same fee: 0.20%. These taker fees are somewhat above the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%.
Chiliz Exchange Withdrawal fees
We have not been able to find any information on this exchange’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. As soon as we receive information on the withdrawal fees at this exchange, we will update this review and post them here.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Chiliz Exchange is cryptocurrency. However, if you really like Chiliz Exchange but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange.
Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.