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US investors permitted
Sistemkoin – Detailed 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 Sistemkoin consists of four parts: general information, fees, deposit methods and security.
Sistemkoin is a Turkish cryptocurrency exchange. Turkey has a surprisingly large number of cryptocurrency exchanges. Bithesap is one of them, but there are many many more.
As many other Turkish cryptocurrency exchanges, Sistemkoin is open also to foreign investors. However, the only fiat currency accepted is TRY (Turkish Lira) and most pages are only accessible in Turkish. We have therefore marked this exchange as “US-investor friendly”, as US-investors are not prohibited. If you are a US-investor and would prefer an exchange with another set of fiat currencies, use our Exchange Finder and well help you find one!
The number of cryptocurrency trading pairs is quite decent and all of the bigger ones are in fact represented at this exchange, but, as mentioned above, you can’t trade them against the EUR or the USD or any other fiat currency than the TRY.
Sistemkoin doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. The flat fee model varies a little bit from cryptocurrency to cryptocurrency. Trading the biggest ones (Bitcoin, Ethereum, Tron, Bitcoin Cash, Ripple) sets you back 0.15%. Many other cryptocurrency trades, however, like trades including Infinity Economics Coin, NAGA, Verge, Achain, and ZCoin, will set you back 0.20%. Both 0.15% and 0.20% is however slightly below the industry average.
Sistemkoin charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average. The exchange also states that withdrawals and deposits will “never take more than 15 minutes to confirm”. This is a very bold statement seeing that Sistemkoin is most likely not in control over the confirmations of the relevant blockchain. We’re actually not quite sure what they mean with that statement.
Sistemkoin offers wire transfer as a deposit method, but you can’t deposit via credit card.
If you need to deposit via credit card, we can help you find the right exchange for you with our tool the Exchange Finder. Try it out!
There are a few contradictory statements on Sistemkoin’s website. One example of such a statement is that they at one place say that “all Sistemkoin assets are stored offline in cold wallets, ensuring maximum security”. Just an inch below that statement, it says “98% of our coins [are kept] in cold wallets”. So, Sistemkoin, what is it? 100% or 98%? Contradictory statements like these are a bit troubling in our opinion.
Sistemkoin’s security score when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/), however, is F. This is below industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.