Dove Wallet Review
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 Dove Wallet consists of four parts: general information, fees, deposit methods and security.
Dove Wallet is an exchange from South Korea. South Korea is – together with Hong Kong, USA and the United Kingdom – one of the bigger country players in the world of cryptocurrency. The country is the home of a lot of exchanges, in addition to Dove Wallet, listed in our Cryptocurrency Exchange List: Cashierest, Coinbit, Coinnest, Chaince, CoinZest, Coineal, Allbit, Bithumb, Coinone, Korbit, Coinrail, GDAC, Gopax, Upbit, Hanbitco and CPDAX.
As three of its main advantages, this trading platform lists that it provides daily bonuses on the currencies you own. It also explains that it supports 6 key currencies (31 currencies in total though) and that it offers layered security.
The daily bonus is quite interesting. The below picture from March 2019 showed the rates on the BTC, LTC, ETH, ETC, VTC and BCH assets at that time. We like this bonus system and really feel that more exchanges should adapt to this.
Dove Wallet does not prohibit US-investors from trading on its platform. In any event, if you are a US-investor and wish to start trading here, you should perform your own analysis of whether you are subject to any state laws or similar that prohibits you from trading here. You can never be too sure.
Dove Wallet 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. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. This is the trading view at Dove Wallet:
Dove Wallet Fees
Dove Wallet Trading fees
Trading fees are naturally very important. 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. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.10% of the order value.
0.10% is below the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
Dove Wallet Withdrawal fees
Dove Wallet charges a withdrawal fee amounting to 0.0002 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. This exchange’s withdrawal fees are thus roughly 75 % lower than the global industry average.
All in all, the fees here are competitive indeed.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
Dove Wallet Security
Finally, we run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Dove Wallet received an F-score in this test. When looking at all the exchanges in our Cryptocurrency Exchange List, the majority of all exchanges actually receive an F-score. So it shouldn’t lead you to believe that the exchange necessarily has poor security. On the contrary, the exchange explains on its website that it offers layered security with sensitive info and assets stored in a “physically isolated server”.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: