UPDATE 4 May 2022: Dove Wallet has rebranded into BTX with effect from today. A review of BTX will follow in the near futurue.
Accordingly, we have marked this exchange as "dead" and moved it into our Exchange Graveyard.
Dove Wallet Review
What is Dove Wallet?
Dove Wallet is a centralized cryptocurrency exchange from South Korea. It launched in 2019.
Dove Wallet Advantages
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
There are exchanges out there that charge low trading fees but then hit you on your way out with high withdrawal fees. This exchange, however, only charges the network fees when you do a transaction. The global industry BTC-withdrawal fee is 0.00053 BTC per withdrawal.
The network fees vary from day to day but are much lower than the global industry average BTC-withdrawal fee.
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.