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 Cryptomate consists of four parts: general information, fees, deposit methods and security.
Cryptomate is a British cryptocurrency exchange. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
The exchange itself highlights three factors as reasons to choose Cryptomate ahead of any other exchange. They say that it is fast, secure and easy. All of these factors are naturally very important to anyone contemplating their choice of cryptocurrency exchange.
US-investors are not allowed to trade here. So if you are a US-investor and want to trade at this exchange, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.
CryptoMate 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. At this exchange, there is only a purchase interface and a small price chart. This makes it easily understandable for new crypto investors, while it might lack many features that more experienced traders look for. The below is a picture of the user interface when purchasing cryptocurrencies at Cryptomate:
Cryptomate Trading fees
This British coin exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is that you can buy BTC, ETH, and a number of other altcoins. When buying, the purchase price offered by this exchange is usually way higher than the market price. The mark-up is not specified anywhere.
However, on the date of last updating this review (29 May 2020), we did a test where we compared to purchase price for 1 BTC offered by Cryptomate to the current market price as presented by Coinmarketcap. We then learned that we would get 6.07% less Bitcoin at Cryptomate, than we would have if we had bought it somewhere at market price. Accordingly, we have listed 6.07% as the trading fees here. These fees are not the worst we have seen at crypto shops like Cryptomate, but they are certainly not very consumer friendly either.
Cryptomate Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant.
Cryptomate offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.