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 Cryptology consists of four parts: general information, fees, deposit methods and security.
Cryptology is a cryptocurrency exchange from Singapore. It launched in January 2018. Singapore is one of the world’s premier places for cryptocurrency exchange headquarters. In addition to this exchange, the following exchanges all are registered or headquartered in Singapore: WEX, Coinbene, Triple Dice Exchange, Coinut, COSS, ExcambioRex, Coinhako, FYB-SG, UEX, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, Bitbox, ABCC, CRXzone, Bytex, Kyber Network and Liquid. Some list, huh?
With respect to liquidity, Cryptology is often also among the top 100 exchanges (looking at the 24 hour trading volume). On the date of writing this review (20 November 2018), the 24 hour trading volume was approx. USD 3,400,000 which placed it on place no. 99 in the world. USD 3,400,000 may sound like a lot. But, if compared to the real exchange giants (Binance, for instance), USD 3,400,000 represents only 0.2%.
You can trade most of the biggest cryptocurrencies here, but the altcoin selection is actually quite limited compared to most other top crypto exchanges.
US-investors may not trade here. The reason for excluding US-investors are primarily regulatory reasons. If you’re a US-investor, don’t despair! You can find the best exchange for you to trade at by simply using our Exchange Finder or using the filters in our Cryptocurrency Exchange List.
Cryptology Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.20%. This is line with – or even slightly below – the global industry average which is arguably around 0.25%.
Cryptology Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Cryptology however only charges 0.0005 BTC when you withdraw BTC. This is also 40% below the global industry average of 0.0008 BTC.
This exchange is an “entry-level exchange”, meaning that you can also deposit fiat currency here. In fact, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
This exchange also has a very good security score. We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and a lot of the exchanges receive F as scores. Cryptology, however, received a B-score, which is very impressive. Only one out of six cryptocurrency exchanges receive B or higher in the Observatory-test. Good work, Cryptology!
Finally, there are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes 9 such exchanges with very impressive security scores: