Jubiter is an Estonian cryptocurrency exchange. Estonia is actually the only country in the Baltics that has cryptocurrency exchanges. But there are more than one: Crex24 is another.
There is detailed information on the company behind the exchange on the exchange’s website. This is always comforting, as scam exchanges typically have less information that can be traced back to its owners. Jubiter is run by Jubiter Technologies OÜ, a company regulated by the Financial Intelligence Unit in Estonia and licensed to provide services of exchanging a virtual currency against a FIAT currency (license number: FVR000189) as well as a virtual currency wallet service (license number: FRK000158). There is also information on the company’s registered address and operational address on the website.
Jubiter is not for people who want to trade the smaller coins. The only cryptocurrencies you can buy or sell here are Bitcoin and Litecoin (but Bitcoin Cash and Ethereum is on its way). So, if you seek any of the smaller cryptocurrencies, you’ll have to choose another exchange.
These are the items that Jubiter list as their main advantages:
Excellent Support Function
One of Jubiter’s real strong features is their support function. For 12 hours each weekday, and 4 hours every Saturday, phone support is available for the Jubiter-users. We have heard nothing but praise for the support staff and their commitment. It should be noted here though that there are numerous exchanges out there that actually offers 24/7 support.
Supported and Non-Supported Countries
US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Citizens or residents from the following countries may however not trade here: Kuwait, Qatar, Saudi Arabia, Serbia, Turkey, United Arab Emirates, Bahrain, Bangladesh, Egypt, Ethiopia, Jordan, Lebanon, Libya, Mali, Mauritius, Morocco, Oman, Somalia, Sri Lanka, Trinidad & Tobago, Tunisia, Afghanistan, Algeria, Indonesia, Malaysia, Nigeria, Korea, Democratic Republic of (North Korea), South Sudan, Sudan, Yemen, Iran, Iraq, Occupied Territories, Pakistan, Syria, Vanuatu, Ethnic groups of Caucasus belonging to Russian Federation (Chechens, Lesgid, Ossetians, Ingushes, etc.).
Jubiter 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. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the view where you can buy Bitcoin at Jubiter:
Jubiter Trading fees
The trading fees at this exchange are not clearly stipulated on the website (at least we couldn’t find them there). This is of course a bit troubling. According to information in an email sent to us, the trading fees are 10%. To begin with, this exchange operates a bit differently from other exchanges as it does not offer crypto-to-crypto trading (only fiat-to-crypto). The global industry average for crypto-to-crypto trades is a taker fee of 0.25%. Compared to that, 10% is 40 times higher. The comparison is a bit difficult to do though.
However, in conclusion, the taker fee at this exchange could be substantially lower, in spite of the trading being fiat-to-crypto and not crypto-to-crypto.
Jubiter Withdrawal fees
Jubiter does not charge any withdrawal fees. You could argue that the above trading fees include also the withdrawal fees, seeing how this exchange operates.
At this trading platform, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors. Jubiter is an “entry-level exchange”.