Float SV Review
A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Float SV consists of four parts: general info, fees, deposit methods and security.
Float SV is a crypto exchange based in the British Virgin Islands that launched in 2019. Out of all exchanges in our Exchange List, there are a few others registered there (BKEX, TOKOK, Infinity Coin Exchange, YunEx, Bankera, ExMarkets and Bybit). But, as you know, when it comes to crypto trading, the world is your playing field and the home of the exchange doesn’t really matter that much.
The trading volume at this platform is quite low. Although we don’t have any data from coinmarketcap.com to rely on, CoinGecko reports that the 24 hour trading volume on the date of first writing this review (29 October 2019) was USD 1.6 million. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume had dropped substantially down to USD 394,295. This is a bit of a red flag for this exchange and it must improve in order for this exchange to be a viable option for anyone.
The platform markets the following three things as main reasons for choosing to trade at Float SV instead of at any other platform. First, they claim to have a “leading risk management system”. Second, they claim to have a “superior trading experience”, and motivates that with having OKEX’s order-matching system and market depth. Third and finally, they claim to provide “professional services”, such as their 24/7 support.
Most people do their crypto trading on their desktops. But, if you prefer to do it on your phone instead, that is possible at Float SV. You can download the exchange app on both App Store and Google Play.
US-investors may not trade here today. So, if you’re a US-investor and you’re in love with Float SV, you’ll have to wait. In the meantime, use our Exchange Finder to find out which exchanges that today support US-investors.
Float SV 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 crypto 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 see that it feels right to you. The below is a picture of the trading view at Float SV:
Float SV Fees
Float SV Trading fees
The most important lesson to learn when it comes to picking the right platform is that you must always check the fees. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.
This exchange’s trading fees for takers are 0.15%. This fee is below the industry average, which is arguably around 0.25%. Another one of this exchange’s strong feats is that the exchange also charges a low fee for makers, namely 0.10%. Giving discounts to makers promotes the liquidity at the exchange and is helpful for the users of the platform.
Float SV Withdrawal fees
Float SV does not charge any withdrawal fees for withdrawing BTC, except for the network fee. The network fee is not charged by the exchange per se, so the platform is not enriched by this fee. It should be noted though that there are exchanges that – as a favour to its customers – themselves assume the network fee so that the withdrawal for the customers in fact is 0.
To conclude, the withdrawal fees and trading fees that this exchange charges are competitive indeed.
Float SV does not accept any other deposit method than cryptos, so new investors are restricted from trading at Float SV. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange.
But, to find an exchange where you can deposit fiat currency, just use our Exchange Finder and we’ll help you through it.