UPDATE 11 November 2021: It has been brought to our attention that SprinkleXchange will no longer offer its services to regular customers like you and me. Instead, they will focus primarily on institutional investors. Before creating an account, you will have to be manually approved. Seeing as this limited on-boarding procedure limits the number of possible customers quite severely, we have decided to move this exchange ot our Exchange Graveyard (even though it's not technically "dead").
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SprinkleXchange is a soon-to-launch exchange registered in the Kingdom of Bahrain. They state on their website that it is "approved for the financial sandbox by the Central Bank of Bahrain". We are not sure exactly what this means, but we assume that it has something to do with being registered or regulated.
This exchange is not a cryptocurrency exchange per se, but cryptocurrencies (incl. stablecoins) is only one of the many asset classes that will be available. You will also be able to trade Public Securities and Private Securities.
To our understanding, this platform will not only be open to retail investors, but also to more sophisticated investors, such as brokers.
We have not found any information on this exchange's website that indicates that US-investors are restricted from trading here. However, many exchanges do not allow US-investors in spite of not having any clear prohibitions obtainable on their respective websites. Accordingly, we urge any US-investor interested in trading here to perform their own analysis of whether they can indeed trade here or not. Sometimes, exchanges might even allow investors from certain states in the US but not investors from other states in the US. So the answer to whether you can or cannot trade at an exchange if you're from the US is not always obvious. Rather the opposite.
SprinkleXchange 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 how the trading view will look at this platform (desktop plus mobile):
SprinkleXchange 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.
This exchange’s trading fees for takers are 0.20%. This fee is below the historical industry average, which is arguably around 0.25%. However, we are today seeing more and more exchanges moving towards lower trading fees, and new industry averages are starting to form around 0.10%. So in comparison with the new emerging trading fee averages, SprinkleXchange will be a bit above.
One of this exchange’s strong offerings is that it also offers trading fee discounts for makers, who trade at 0.10% (50% discount compared to takers). This maker/taker fee model promotes the liquidity at the exchange and is a strong aspect for this platform.
Finally, this platform also offers discounts to traders who have traded above a certain threshold. To our understanding, this is not limited to the preceding 30 day period (which is otherwise a common structure among crypto exchanges). The table of the trading fee discounts available to retail investors looks as follows:
SprinkleXchange Withdrawal fees
SprinkleXchange will not charge any withdrawal fees for withdrawing cryptos, except for the network fee. The network fee is not charged by the exchange per se, so the platform is not enriched by this fee. It should be noted though that there are exchanges that – as a favour to its customers – themselves assume the network fee so that the withdrawal for the customers in fact is 0.
To conclude, the withdrawal fees here are competitive.
To our understanding, SprinkleXchange will offer fiat currency deposits via wire transfer, but you can’t deposit via credit card. So, if you for any reason would prefer to deposit to your choice of trading platform via your credit card, then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits and other fiat currencies simply by using our Exchange Finder tool.
However, as SprinkleXchange at all accepts fiat currency deposits, it qualifies as an “entry-level exchange” where new investors can take their first steps into the thrilling crypto world.