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.
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 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. This is potentially a risk for you as an investor. Accordingly, we strongly urge you to make you own analysis of the fees and price differences at Cryptomate before executing any transactions there and before concluding that it is the best cryptocurrency exchange site for you.
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.
Cryptomate’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.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):