Satang Pro Review
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 Satang Pro consists of four parts: general information, fees, deposit methods and security.
Satang Pro, previously TDAX (acronym for Thai Digital Asset Exchange Company Limited), is a Thai cryptocurrency exchange. It launched in November 2017. In our cryptocurrency exchange list (being the most comprehensive such list in the world), we only list two cryptocurrency exchanges from Thailand: this one and Bitkub.
Satang Pro was allegedly developed to meet the “trading needs of a growing professional and retail market”. The Satang Pro Team declares themselves as committed to bringing security, speed and transparency to the market (specifically the Thai market where they seem to think such security, speed and transparency have been absent). The CEO of this exchange is also very experienced, having created ZCoin (XZC), Vertcoin (VTC) and Satan (one of the more popular Bitcoin Social Wallets in Thailand).
Satang Pro does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that 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.
On 19 July 2019, the 24 hour trading volume at this platform was USD 1.08 million. This trading volume was very quite low. On the list of the exchanges in the world with the highest 24 hour trading volumes, Satang Pro only managed to arrive at place no. 160. On the date of last updating this review (30 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume of this exchange had decreased even further, down to USD 511,435. This was also a decrease relative to the industry, and only gave the exchange place no. 192 on the list. The low trading volume creates a thin orderbook and should be considered a risk for any investor interested in opening an account here.
Satang Pro 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. 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 Satang Pro:
Satang Pro Fees
Satang Pro Trading 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. We call makers “makers” because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
EXAMPLE: Ingvar, offering to buy 1 BTC for USD 10,000. And Jeff, offering to sell 1 BTC for USD 11,000. If Bill comes along, and sells 1 BTC to Ingvar for USD 10,000, he takes away Ingvar’s order from the order book. Bill is here a taker and will be charged the taker fee. If Bill on the other hand would have offered to sell 1 BTC for USD 10,500, he would have placed an order on the order book that did not correspond to an existing order. He would thus have been a maker of liquidity. If someone would have accepted to buy 1 BTC from Bill for USD 10,500, then Bill would have been charged the maker fee (usually a bit lower than the taker fee) and the relevant buyer would have been charged the taker fee.
Satang Pro doesn’t charge different fees between takers and makers. Their fee model is instead something we call a “flat fee model”. Satang Pro’s flat fee is 0.20%. This is perfectly in line with industry average.
Satang Pro also offers trading fee discounts when you have a large trading volume during the preceding 30 days. Trading fees can become as low as 0.12% for both takers and makers if they have a large trading volume (over THB 320 million, which on this day corresponds to roughly USD 9.8 million). The exact trading fee discounts are set out in the below table (obtained before the lowering from 0.25% to 0.20%):
Satang Pro Withdrawal fees
Satang Pro's withdrawal fee is 0.0004 BTC per BTC-withdrawal. This fee is 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. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC per withdrawal is starting to become the new industry average. In any event, Satang Pro's fees for withdrawals are competitive.
Satang Pro offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
However, as Satang Pro accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies.
With respect to deposit processing time, deposits from Thai bank accounts usually take up to 24 hours. This is a quick process. If you hold your bank account with a non-Thai bank, it can take up to 7 days, but could also be a lot quicker. Cryptocurrency deposits are more swift (as always). Usually just 1-2 hours, but depending upon the blockchain network used.
Satang Pro Security
Satang Pro’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):