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TradeSatoshi exchange review
Is this crypto-to-crypto exchange the right platform for your trading needs?
TradeSatoshi is a crypto exchange platform where users can buy and sell bitcoin (BTC) and hundreds of other altcoins. Designed with ease of use in mind, the exchange offers 0.2% trading fees and several security features to help ensure the safety of user funds.
To help you decide whether TradeSatoshi is the right exchange for your crypto trading needs, we’ve put together this comprehensive review.
What is TradeSatoshi?
Launched in 2015, TradeSatoshi is a crypto-to-crypto exchange that allows users to trade more than 200 digital currencies. It lists popular coins like bitcoin, Bitcoin Cash and Litecoin as well as a wide variety of lesser-known currencies.
Based in London, TradeSatoshi features a basic user interface and supports 2-factor authentication for account security. It also offers a “Faucet” feature where users are able to claim free coins.
Which cryptocurrencies can I buy/sell?
TradeSatoshi users can trade a wide range of digital coins and tokens, including the following:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Verge (XVG)
- ZClassic (ZCL)
- Dash (DASH)
- Monero (XMR)
- ReddCoin (RDD)
- Zcash (ZEC)
- Zcoin (XZC)
- Komodo (KMD)
- Bitcoin Gold (BTG)
- Bytom (BTM)
- Stratis (STRAT)
- Hcash (HSR)
TradeSatoshi offers its services to crypto buyers and sellers worldwide. Contact the exchange directly if you’re unsure whether you’ll be able to access the platform from your country of residence.
Which payment methods are accepted?
As TradeSatoshi is a crypto-only exchange, it doesn’t accept fiat deposits. The only way to deposit funds into your account is via cryptocurrency transfer.
How much will it cost me to use TradeSatoshi?
While there is no fee for depositing funds into your account, you’ll need to consider trading and withdrawal fees before signing up for an account with TradeSatoshi.
When you place a buy or sell trade, a 0.2% fee applies to your transaction.
The withdrawal fees charged vary depending on the coin or token that’s transferred. The withdrawal fees for some popular currencies are shown in the table below:
|Bitcoin Cash||0.00001 BCH|
|Bitcoin Gold||0.001 BTG|
Are there any transfer limits?
We couldn’t find any information about deposit or withdrawal limits listed on the TradeSatoshi website. However, make sure to do your own research before depositing any funds with the exchange.
Is it safe to use TradeSatoshi?
Before you can use your TradeSatoshi account, you’ll need to verify it by entering your full name, date of birth and email address. You’ll then need to click on a verification link that’s emailed to you.
TradeSatoshi encourages users to enable 2-factor authentication to protect their funds. It also offers a range of other security features including offline storage of users’ private keys, DDoS mitigation for its servers and live backups to help users recover their funds in case of an emergency.
If you need help with your account or have a question about a specific transaction, you can submit an online support request. You can also get in touch with TradeSatoshi via Discord, and the team maintains a presence on Facebook and Twitter.
However, while TradeSatoshi claims to offer full-time support every day of the year, several users have complained about slow response times from the platform’s customer service team.
Pros and cons
- Access to a wide range of cryptocurrencies
- Supports 2-factor authentication
- Decent range of security features
- Platform is straightforward and easy to use
- Some users have complained about the quality of customer support
- Low trading volume
- Leverage trading not available
- Fiat deposits not accepted
- Doesn’t support ETH
At the time of this writing, the author holds ADA, IOTA and XLM.
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