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 Tokocrypto consists of four parts: general info, fees, deposit methods and security.
Tokocrypto is an exchange from Indonesia, founded in June 2017. We don’t have that many Indonesian exchanges in our Crypto Exchange List. The only other exchange that comes to mind is Indodax.
On 26 November 2019, the platform announced that it had received the status of “officially registered Crypto Exchange with the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – BAPPEBTI) as Registration Number 001/BAPPEBTI/CP-AK/11/2019”. Apparently this was the first time ever that a crypto exchange received this regulatory status in Indonesia.
The platform is available in four languages: English, Indonesian, Sundanese and Javanese. It offers trading in a dozen of the biggest cryptos in terms of market capitalisation. So if you’re looking for one of the bigger coins out there, you’ll likely find it here. If your focus is instead a smaller and more exotic altcoin, you will probably have to look elsewhere to find what you are after.
Tokocrypto’s ambition is to be Southeast Asia’s leading exchange. The exchange highlights the following four things as the primary strengths with their platform: it’s easy, simple. instant and secure. All of these factors are naturally very important.
To our understanding, the exchange allows US-investors to 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.
If you are one of the people who prefers to do your cryptocurrency trading on your mobile, as opposed to on your desktop, you’ll be happy to know that Tokocrypto’s trading platform is also available as a mobile application. You can download it from Google Play.
Tokocrypto Trading View
Different exchanges also 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 Tokocrypto:
Tokocrypto Trading fees
Trading fees are extremely important. The fee levels might seem insignificant at a first glance but in the long run they can add up to substantial amounts.
This trading platform charges the same fees for both takers and makers. We call this fee model a "flat fee model". Both takers and makers pay 0.20% here. This is quite in line with the global industry average.
Tokocrypto Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the global industry average. Industry average is – according to our own study – 0.000812 BTC per BTC-withdrawal. This means that Tokocrypto’s withdrawal fees are roughly 40% below industry average.
All in all, the trading fees and withdrawal fees at this exchange are in line with, or even slightly below, the global industry averages in the industry.
Here, they also offer wire transfer as a deposit method, but you can’t deposit via credit card. If you for any reason must deposit via credit card, you should use the Exchange Finder to find out which cryptocurrency exchanges that allow credit card deposits. Accepting wire transfers at all qualifies this exchange as an “entry-level exchange”. Entry-level exchanges are exchanges where also people without any previous holdings of cryptocurrency can enter the cryptocurrency world.
We also run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. This exchange only received an F-score in this test. An F might seem scary, but it should be noted that out of all exchanges in our Exchange List, a majority actually received just that: F.
According to info to Cryptowisser.com, this exchange is currently underway with updating security measures at the exchange and security is definitely a top priority.
Finally, 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 crypto market with fiat currency. There are many entry-level exchanges out there, including (but not limited to):