US investors permitted
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 Safello consists of four parts: general information, fees, deposit methods and security.
You can only trade here if you’re from the EEA or the United Kingdom. This means that African, Asian, South or North American investors can’t trade at Safello. Are you from any of these excluded geographies? Don’t worry. There are many other venues that also offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
Safello Trading fees
This Swedish coin exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying and selling BTC. When buying BTC from the exchange, the purchase price that this trading platform offers is higher than the market price. Conversely, when selling BTC to the exchange, the purchase price Safello offers is lower than the market price. The difference between the market price and the offered price is called a “spread”.
This trading venue has two primary purchase/sale alternatives: the Quickbuy option and the ordinary way (following logging into their website). The Quickbuy option will cost you 7.00%. The other option will set you back 5.00%.
The above fees are extremely high.
Safello Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant.
At this trading venue, you can also deposit in a variety of ways. For Swedish investors, the Swish-alternative is presumably very attractive. However, you can not deposit fiat currency through credit cards here.
The security score of this particular trading platform is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
Finally, 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: