A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of TokensNet consists of four parts: general info, fees, deposit methods and security.
TokensNet is a crypto exchange from the United Kingdom (and apparently also Slovenia) that launched in 2018. There are numerous crypto exchanges registered in the UK, which is clearly Europe’s leader when it comes to being the home of crypto companies.
The trading volume at this platform is quite low. According to the data from coinmarketcap.com, the 24 hour trading volume on the date of first writing this review (29 October 2019) was USD 1.87 million. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume was roughly the same: USD 1.64 million.
The platform has three core values: transparency, safety and reliability. These three core values are all extremely important for a trustworthy platform.
As many other exchanges, TokensNet does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange for you.
As most other crypto exchanges, TokensNet also offers its trading platform in mobile format for both iPhones and Android phones. Statistically, most people do their crypto trading via desktop computer, but if you prefer to do it while on your mobile you can easily do so here.
TokensNet 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 TokensNet:
TokensNet Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being carried out. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by giving the makers of that liquidity a fee discount.
TokensNet’s trading fees for takers are 0.20%. This fee is a bit below the global industry average. The global industry average is arguably around 0.25%, although we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
But the taker fees are not even this platform’s strongest edge. At this platform, makers don’t pay any fees at all (0.00%). Naturally, this is a great deal for the makers in the trades at this exchange.
TokensNet Withdrawal fees
TokensNet charges 0.001 BTC per BTC-withdrawal. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0006. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average. In any event, the withdrawal fees charged by this platform are above the industry average.
TokensNet does not accept any other deposit method than cryptos, so new investors are restricted from trading here. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange. But, to find an exchange where you can deposit fiat currency easy, just use our Exchange Finder and we’ll help you through it.
One might ask why security is even a feature that we have looked for at the exchanges. Two reasons:
- Exchanges store a large amount of personal info.
- Also, exchanges handle a lot of cash or coin deposits and withdrawals.
This exchange’s security score is C+, when doing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually way above average when it comes to the exchanges listed in our Exchange List. Most of the exchanges only receive an F.
We hope you have enjoyed reading the above review. We also recommend checking out the following exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: