What is SafeTrade?
SafeTrade is an exchange registered in Canada that launched in 2018. It is developed by the team behind the SafeCoin crypto. They describe themselves as "one of the finest community driven exchanges available".
This trading platform does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here.
SafeTrade offers trading in 37 different cryptocurrencies, which is quite an impressive number. There are exchanges out there offering trading in several hundreds of cryptos, but 37 is still above average. So if you’re an altcoin trader looking to find that unicorn crypto, chances are that you will find it here.
On the date of writing this review (9 October 2019), the exchange also stated on its website that it had 24/7 support and that more than 25 team members were working on the various SafeCoin projects.
SafeTrade 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 ascertain that it feels right to you. The below is a picture of the trading view at SafeTrade:
SafeTrade Trading fees
This Canadian trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. SafeTrade charges 0.10% for most trades, regardless if you are a taker or a maker. The global industry average trading fee is arguably 0.25%, so SafeTrade’s fees are clearly lower than industry average. We are however seeing more and more exchanges moving towards lower trading fees, such as 0.15% or 0.20%. In any event, SafeTrade is not on the high side.
SafeTrade Withdrawal fees
SafeTrade's withdrawal fee is 0.000098 BTC per BTC-withdrawal. This fee is far below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0004599 BTC per BTC-withdrawal.
In any event, the withdrawal fees here are in line with, or even slightly below, the industry average.
This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here. If you don’t have any cryptos but want to start trading at this trading platform, you will first have to purchase cryptos from another exchange and then, as a second step, deposit them here. Don’t worry though, we will help you find an exchange where you can purchase your first cryptos by the help of our Exchange Finder. Do the test there now and you will see what alternatives you have.