UPDATE 16 March 2020: This exchange seems to have closed down. When we try to access the website of the exchange, we only receive error messages. We have thus marked this exchange as “dead” in our database.
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Purcow is a crypto exchange based in Hong Kong that launched in 2017.
If you look at the trading volume of this particular platform, it is worrying. Although we don’t have any data from coinmarketcap.com to rely on, CoinGecko reported that the 24 hour trading volume on the date of writing this review (18 November 2019) was 0 (nothing). Naturally, this info is quite worrying. It indicates that there is a risk that this exchange will have to shut down in the near future. So, if you’re a potential user of the platform, be careful.
As far as we can tell, this platform does not prohibit US-investors from trading there. Accordingly, we do believe that it is open to US-investors as well. Any US-investors that want to trade here should in any event form their own opinion on any issues arising from their citizenship or residency.
Purcow 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. On the date hereof, we have not been able to obtain a picture of the trading view here.
Purcow Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being executed. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by rewarding the makers of that liquidity with a fee discount.
Purcow’s trading fees for takers are 0.10%. This fee is far below the global industry average. The global industry average is arguably around 0.25%, although we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
But the taker fees are not even this platform’s strongest edge. At the Purcow-exchange, makers don’t pay any fees at all (0.00%). Naturally, this is a great deal for the makers in the trades at this exchange.
Purcow Withdrawal fees
Purcow does not support trading in BTC, so they don’t have a BTC-withdrawal fee that we can compare against. Their ETH-withdrawal fee, however, is 0.01 ETH. This should be compared with other exchanges’ ETH-withdrawal fees in our Exchange List, such as Joyso (charging 0.0006 ETH) EtherDelta (charging 0.0007 ETH per ETH-withdrawal), Allbit and Kyber Network (all of them charging network fees, 0.004782 ETH per ETH-withdrawal), Tokpie (charging 0.0009 ETH) and Bilaxy (like Purcow, charging 0.01 ETH per ETH-withdrawal).
So, in comparison with the above, Purcow’s withdrawal fees for ETH are the absolute highest, together with two other platforms.
To summarize, the trading fees here are ridiculously low and the withdrawal fees are a bit on the high end.
At this exchange, you can not deposit fiat currency. This means that new crypto investors (i.e., those without any previous crypto holdings) can’t trade here. In order to purchase your first cryptos, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!