UPDATE 2 December 2022: Following market crashes, the exchange went offline.
Accordingly, we have marked the platform as "dead" in our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
What is SatoExchange?
SatoExchange is an exchange registered in the states (USA), launched in 2018. More specifically, it has its base in Arkansas.
On the date of writing this review (12 October 2019), the exchange stated on its website that it supported 104 different cryptos and had 288 trading pairs. This is of course a great advantage for its users.
US-investors are naturally permitted to trade here, seeing as the platform is from USA. But, US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may be prohibited by state laws to trade wherever they want to.
SatoExchange 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. The below is a picture of the trading view at SatoExchange:
SatoExchange Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The takers are the people who “take” orders from the order book. This means that they remove order options from the order book and thereby remove liquidity. Makers are the ones who put the orders on the order book in the first place.
The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
At this exchange, they charge flat fees: 0.20%. 0.20% is in line with the global industry average which is arguably around 0.25%. We are however currently seeing a shift towards even lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
SatoExchange Withdrawal fees
When withdrawing BTC from the SatoExchange platform, you will have to pay 0.001 BTC. This is around 40% higher than the global industry average BTC withdrawal fee (0.00053 BTC), according to this report. Accordingly, it is not a competitive BTC-withdrawal fee at all
SatoExchange does not accept any deposits of fiat currency. This means that the new crypto investors (i.e., the investors 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!