Do you remember how your trading journey began? Honestly, I was too afraid to start with big cryptocurrency exchanges, as I thought they were definitely for more advanced traders. Practice and experience helped me put my fears aside, although I still find simplicity to be the key when deciding on a trading platform.
And this made me think of how one can determine a good and not-too-complicated exchange platform, what features it should have.
But then I came across Cryptology, which seemed to have everything for all types of traders, regardless of their experience. So the goal of this review is to show you that you can make more from less.
Based on the features that, in my opinion, make BTC futures exchanges better, as well as what Cryptology has to offer, I will highlight the positives and possible negatives of the latter.
What Makes a Crypto Exchange a Good One
- Convenience. The less overloaded a platform is, the better it is in terms of working speed. And trust me, you want your trading site to be as rapid as possible. Otherwise, problems like crashing would be always somewhere around to hit you in the worst time.
- Reasonable fees. So many traders hate fess the most. But who would want to give their money away voluntarily, right?
- Restricted regions. If you are not careful enough, you may find yourself in a situation as I did. Back when I was just a beginner and was so excited to finally get down to business that I missed the most crucial part. After signing up and verifying my account, I found out I was not able to make any operations since the platform did not support my country.
- Leverage possibilities. Even though using it might come with certain risks, no successful trader went without it.
- Plenty of currency options. I would not say that it is as critical as other features, but having a wider choice never hurts. At the end of the day, it’s your preference.
- Smooth transactions. It would suck to have a hard time withdrawing crypto funds, considering that its initial goal is to make the process faster and easier.
Cryptology Overview: Trade Futures Free of Charge
Not only is Cryptology a great BTC futures trading platform but also one that has no fees when it comes to futures trading, and stands out with its generous welcome bonus.
The platform often carries out promotions that last for quite a while, like the one right now, which is valid till the end of September. During this time, users are exposed to no fees for futures trading, as well as a generous bonus for the first deposit.
Keep on reading to see how Cryptology works and how to make it work for yourself.
Earn with Cryptology
Recently, the platform introduced their freshly released service (Cryptology Earn) that will help you make money without active participation. Select crypto and get a stable income with no effort. All the data is available at any time, just like your profit payouts. And your profit directly depends on which currency you’ll choose. On average, you can count on 8 percent a year for cryptos like Bitcoin, and twice as many for some other ones.
Creating an Account
There is nothing special that would require a more detailed explanation about the registration process at Cryptology. Fill in the form by entering your name and surname, email, and also password. You may as well use your Google account to sign in.
At the final stage of the procedure, you will be asked to choose what type of account you want to have. Those can be either personal or institutional, which, in turn, imply other types such as:
- Global. Replenishing your account with cash and cryptos using bank transfers and a debit or credit card. The same goes for withdrawal. Please note that withdrawals can only be done to the account you’ve used for replenishments.
- Trading. Depositing possibilities do not differ, but withdrawals are limited solely to cryptocurrencies.
Since Cryptology is all for “know your customer” policy, the verification is mandatory and consists of two steps:
- Submit your identity documents. Those can be your ID card, passport, or something else. After this step, your account limit will be set at 10 thousand bucks.
- Submit a document confirming your address and get rid of any limits.
Spot and Futures Trading
Using Cryptology is super easy and pleasant for both of these trading variations. No matter which one you opt for, you will always get the list of orders, the history of your trading activities, up-to-date data, and, of course, a convenient form to commit transactions.
For futures, you are allowed to use leverage.
Fees and Payment Options at Cryptology
For trading purposes, fees are set at 0.002 for all parties, which is different from other platforms to buy crypto online that normally charge their users in accordance with the volume for buying or selling.
Cash deposits would cost you 2.65% when using bank cards (25 dollars minimum).
If you happen to be from Brazil, then depending on the payment method you choose, the fees would fluctuate, but the minimum deposit is as low as one dollar.
SEPA deposits charge 0.45% (1 euro minimum), and bank (wire) transfers have no fees at all (25 dollars minimum).
When it comes to payouts, only those with Global accounts can reap the benefits of withdrawing cash, although the fees are pretty high (7 euros for a 50 euros minimum payout amount).
If you are not from the United States or Japan, then Cryptology is accessible in your region. What is great is that while other big-name platforms to buy crypto leave some wealthy European markets, Cryptology will be available where it currently is.
Strengths and Weaknesses
- Big leverage of 100 times of your bank for futures;
- No future trading fees during promotion periods;
- Widely spread all over the globe (except for two countries mentioned);
- A match bonus of hundred dollars for the first deposit;
- Friendly and professional customer support. I’ve reached out to Cryptology support with a couple of questions, and they did not disappoint. The replies were quick, the answers were informative, and the employees were nice to me.
- Margin is not available for spot transactions;
- The trading account type does not let cash payouts.
Having used Cryptology for different trading purposes, I was able to form an opinion, which resulted in this review. Considering all the features of a potential good platform, as well as what Cryptology has to offer, I hope that it will make it easier for you to make the right choice.
What makes this platform good for you? Would you name another distinctive feature?