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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 Cointiger consists of four parts: general information, fees, deposit methods and security.
This exchange is from Singapore. It launched in December 2017. Singapore is one of Asia’s biggest birth givers to cryptocurrency exchanges. There are SO many. If we would have to mention only one of them (gun to our head), it would be Coinut. Coinut has received a lot of praise from the crypto community lately.
But back to Cointiger. Cointiger’s website is available in “simplified Chinese”, English and Tiếng Việt. So if you’re only English-speaking, you can still trade here.
At the date of writing this review, Cointiger has an impressive trading volume. Over the last 30 days, cryptocurrencies worth USD 1 billion had been traded here. On a 7 day basis, USD 180 million and during the last 24-hour period, USD 29 million. Needless to say, liquidity is not an issue at this exchange.
The exchange offers trading in 57 different cryptocurrencies.
The exchange does not explicitly state that US-investors are prohibited from trading. US-investors should accordingly be permitted to trade here. However, any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Cointiger Trading fees
This particular venue for cryptocurrency trading doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. They have set their flat fee at 0.10% of the order value. 0.10% is a competitive rate. Globally, the average fee for trading is around 0.25%.
Cointiger Withdrawal fees
How does the withdrawal fees look then? Is Cointiger one of those exchanges that have really low trading fees but make up for it by charging higher withdrawal fees? No, it is not one of those exchanges. Rather the opposite. Cointiger charges 0.0005 BTC when you withdraw BTC. This is a competitive rate in a global perspective but actually also from a Singaporean perspective. Most other cryptocurrency exchanges based in Singapore charge higher withdrawal fees.
Cointiger 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!
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information.
- Exchanges handle a lot of cash or coin deposits and withdrawals.
Cointiger’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.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.