Virwox Review 2019 – Is it Scam or not?

Virwox review - Virwox Official Logo image

Virwox review - Virwox Official Logo image

Overview

Virwox is the online exchange owned by Virtual World Services GmbH, an Austrian company. Since 2007, Virworx has built its brand name and traders can buy and sell a virtual currency known as Linden Dollars. Traders can do by buying low and selling high, using the price variations of the virtual currency to achieve this.

 

The number of their clients shos how wide the reach of the platform is; more than 1 million registered users.

Virwox review - Virwox company information

 

Currency Supported

The only cryptocurrency, Bitcoin, can be traded on Virwox.

Virwox review - Virwox current image

Countries Supported

Virwox serves many countries, however, a few countries are restricted for its international financial restrictions or regulatory prohibitions.

 

– Restricted countries;

US, France, Belgium, Syria, Iran, Iraq, Afghanistan, North Korea, etc

 

Payment Method

There are several deposit / withdraw options

– PayPal

– Credit/Debit Cards

– Skrill

– PaySafeCard

– SOFORT

– OKPAY

– Bitcoin

 

One of the most popular payment methods is PayPal, but fees are charges for the service.

 

Fee

– Paypal : 0.35 EUR plus 3.5% of the transaction

– Skrill : 0.39 EUR plus 3.5% of the transaction

– SOFORT: 2.5% of the transaction

– Deposits in Bitcoin : Free

 

Virwox charges commissions depending on the coin and the type of orders.

 

Limit

The limits are based on clients’ account level.

– Level 0 : 90 EUR limit for each 24 hour period. (270 EUR limit per 30 days)

– Level 1 : 120 EUR limit daily, 900 EUR limit monthly

– Level 2 : 200 EUR limit daily, 2,000 EUR limit monthly

– Level 3 : 400 EUR limit daily, 5,000 EUR limit monthly

– Level 4 : 1,000 EUR limit daily, 15,000 EUR limit monthly

 

Customer Support

Virwox review - Virwox customer support

The email and ticket service is available.

Email: office@virtualworldservices.at or support@virwox.com

VirWox website provides five language services; English, German, French, Spanish, Italian.

 

Security

VirWox operates a network of terminals. To prevent clients being prompted to login to fake terminals generated by hackers, a popup box comes up, telling his/her username. If the terminal tells the wrong username, it is a fake terminal.

Virwox review - Virwox security

 

Conclusion

VirWox is an exchange for virtual currencies. It was created for buying and selling virtual currencies used in online games. Their developers decided to branch out into this cryptocurrency, however, have come up with a slow and costly process.The greatest advantage of VirWox is the option to buy Bitcoin with PayPal and other payment methods by first buying SLL and converting this to Bitcoin.

VirWox is useful for people who play the supported online games that utilize the virtual currencies tradeable on VirWox, however, it is not the first choice for cryptocurrency exchange.

 

Pros

– Buy Bitcoin with PayPal

 

Cons

– No hardware wallet

– High Fess

– Limited Currencies

Bibox Review 2019 – Ratings, Features & Security

Bibox review - Bibox Official Logo image

Bibox review - Bibox Official Logo image

Overview

Bibox is a new cryptocurrency exchange, founded in 2017 by the former employees of Binance, OKCoin and Huobi, which are the largest cryptocurrency exchange in China and the world. Bibox has a highly competent team and platform to provide access to a wide range of coins and aid in the execution of optimal transactions.

Bibox review - Bibox exchange platform2

Bibox does not support fiat currencies and is not regulated by any reputable regulatory authorities.

 

Currency Supported

Over 60 coins are available on the platform with 145 market pairs linked to the 5 base currencies; BTC, ETH, USDT, DAI and BIX. Traders can make use of digital currencies such as USDT or DAI that are available to trade on the platform.

 

Bibox review - Bibox coin treasure

Countries Supported

Most countries are accepted including the US.

 

Payment Method

Clients can deposit funds into the account only via a cryptocurrency transfer. Fiat currency deposit is not supported.

 

Fee

The deposit fee is free and withdrawals are charged a network transaction fee. Withdrawal fees vary depending on the currency.

The trading fee is 0.1% and if you pay using BIX, you can get 50% discount.

 

Limit

There is withdrawal limit and the amount is based on the level of verification.

 

1) 2 BTC daily limit (email verification is required)

2) 20 BTC limit (Identification verification is required)

3) For a higher limit, you need to contact Bibox customer support.

 

 

Customer Support

The website is served with 5 languages; English, Chinese, Russian, Korean and Vietnamese.

Clients can contact the team with a ticket support in the Support section. FAQ page is also available. You can contact the support team via Telegram and WeChat as well for prompt and professional answers.

 

Security

Bibox implements various security measures to protect users’ accounts with SSL encryption, Two-factor authentication, SMS authentication and funds password. The exchange claims to store most of the funds offline in cold storage safely.

The platform is also controlled and governed by an AI system.

Bibox review - Bibox exchange platform

Conclusion

Bibox provides a wide cryptocurrency to exchange in a number of markets and a decent trading platform. It has grown quickly in popularity with international traders. Bibox clients can place trades through a web-based interface, a desktop app, an Android and iOS mobile app. Bibox does not support any fiat currencies, however, it is a pretty good exchange with decent trading volume and low fees.

 

Pros

– Easy to use

– Low trading fees

– Desktop and mobile trading available

 

Cons

– No fiat currencies support

– Not regulated exchange

 

Coincheck Review 2019 – Hacked before or not?

Coincheck review - Coincheck Official Logo Image

Coincheck review - Coincheck Official Logo Image

Overview

Coincheck is one of Asia’s largest cryptocurrency exchanges, offering leveraged trading (up to 1:5) in some cryptocurrencies for Japanese yen. It processed the highest volumes of Bitcoin trading in Japan.

The exchange has a license to operate as a digital currency exchange in Japan and has been a major Japanese cryptocurrency company since 2014. Coincheck is very well designed and has intuitive usability. The cryptocurrency wallet hosting services with Android and iOS wallet apps are available.

Coincheck review - Coincheck exchange platfom image

They offer several types of financial services and platforms in Japan and throughout Asia.

In addition to the leveraged trading, the exchange provides money transferring, a cryptocurrency-based donation crowdfunding platform, bitcoin lending and an API to accept payments or build applications.

Coincheck review - Coincheck homepage

 

Currency Supported

Coincheck supports a range of cryptocurrencies;

Bitcoin, Ehtereum, Ethereum Classic, Lisk, Ripple, Zcash, Dash, Litecoin, and Monero.

Not all of the cryptocurrencies can be traded on the exchange because it tends to stick to the bigger cryptocurrencies.

 

Payment Method

By bank transfer and credit/debit card, if adding fiat currency, Coincheck account holders can fund their accounts. Account holders can also transfer supported cryptocurrencies holding into their account and all prices are denominated in yen as their base currency.

Coincheck review - Coincheck deposit method

Withdrawal can be made to a bank account or credit card if in fiat currency or crypto wallet. Deposits are accepted through bank transfers, credit/debit card and even though some convenience store in Japan. USD is accepted for international deposits.

 

Fee

1) Deposit / Withdrawal Fee

– Bank transfer in JPY : Free

– Bank transfer in USD : $25

– JPY withdrawals: JPY 400

– USD withdrawals : JPY 2,500

– Virtual currency deposits: Free

– “Fast Deposit” options: 0.002 BTC

Coincheck review - Coincheck fee schedule

2) There is maker and taker fee schedule, but Coincheck is currently charging no trading fees.

Please check the specific information about fee from the following link;

https://coincheck.com/info/fee

 

Customer Support

Coincheck provides support in Help Center with FAQ, and email-based ticketing system for any issues. The website is offered with four different languages; English, Japanese, Chinese and Indonesian.

 

Security

Coincheck supports most of the usual security precautions. That is the two tiers of accounts that come with two levels of personal identity verification requirements. Only email verification and a valid mobile number for SMS verification is required for deposits and withdrawal. Coincheck does not combine clients’ deposits and company assets, which is what saved them from becoming insolvent following the security breach.

Coincheck review - Coincheck security

The exchange support Two Factor Authentication (2FA) via SMS and Google Authentication on Android or iOS. Wallets offer 2FA security and cold storage as well.

 

Conclusion

Coincheck is one of the major exchanges in Japan and a very high-quality company. They offer a variety of services such as prepaid Visa cards that can be funded by Bitcoin.

The technology level is one of the best and easy to navigate. The verification process for international account holders is complex and put some off. The number of coins for leveraged trading is quite limited and they can be traded only against JPY. Supporting additional fiat currencies to USD and JPY with options such as Euros would increase international appeal, however, Coincheck is not very popular outside Japan.

 

Pros

– Well designed exchange

– Credit card accepted

– Free trading fee

– Regulated in Japan

 

Cons

– No chat-based customer support

– Extensive verification process for international users

Bitstamp Review 2019 – Everything You Should Know About Bitstamp

Bitstamp official logo

Bitstamp official logo

Overview

In operation since 2011, Bitstamp has been one of the oldest and most reputable cryptocurrency exchange platforms. The exchange is suitable for intermediate and experienced cryptocurrency traders who want to trade Bitcoin, altcoins, and fiat currencies. Bitstamp offers clients competitive fees to exchange digital currencies in large amounts. As the exchange was developed in Luxembourg and now has offices in London, the exchange is particularly popular with Europeans.

Bitstamp coin exchange platform

Currency Supported

Bitstamp focuses on the most established cryptocurrencies and offers pairs featuring Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. These work with USD and EUR fiat currencies.

Bitstamp provides high liquidity in the cryptocurrencies but it is for all Euro pairs. If you are looking for another Fiat currencies that had a various range of altcoins, other cryptocurrency exchanges are recommended.

 

Payment Method

Bitstamp accepts payments via Bank Wire, Cryptocurrencies and Credit & Debit card. European clients can be accepted via the SEPA system easily. It is faster than the traditional bank transfers, however, the fees would be higher depending on the client’s bank.

 

Fee

Bitstamp offers lower fees than most crypto exchanges for both the depositing and withdrawing of funds, as well as the trading of crypto assets. When trading with low volume, however, the fees are similar to other exchanges. For high volume traders, the fee can be lower.

– Trading fee range from 0.1% to 0.25%.

– Deposit Fee

  1. Free for SEPA
  2. 0.05% for international wire

– Withdraw fee

  1. 0.9 EUR for SEPA
  2. 0.09%

Bitstamp Fee Schedule

 

Please check the below link for the detailed information.

https://www.bitstamp.net/fee_schedule/

 

 

Customer Support

Bitstamp provides an extensive FAQs section where you can find answers for your troublesome, or if you had a specific account question, you can use their ticket system.

It usually takes an hour or two.

Bitstamp Team member

The telephone support service is also available.

 

London: +44 20 3868 9628

North America: +1 646 568 9784

Luxembourg: +352 20 88 10 96

 

Security

Bitstamp has experienced a couple of hacks in 2014 and 2015. Since those hacks, Bitstamp has improved its safety & security system. Bitstamp now has top-tear security due to their implementation of advanced security technologies and they keep the majority of their crypto assets offline in cold storage. 2FA protects clients’ account safely from hacking.

 

 

Conclusion

Bitstamp offers a very simple buy and sell user interface combining with advanced trading tools. The exchange is regulated by the CSSF(Commission de Surveillance du Secteur Financier) in Luxembourg, that is great standards for funds security.

Bitstamp is one of the relatively few exchanges that accept buying of cryptocurrencies using debit and credit cards. On the other hand, Bitstamp supports only four cryptocurrencies and offers few alternative coins. The unusual fees are applied to traders’ accounts as well.

Overall, Bitstamp is a good choice for traders located in Europe.

 

Pros

– Accepts Bank Wire, Credit, Debit Cards

– Competitive fees

– Regulated by the CSSF

– 98% of coins are kept in cold storage

– Telephone support

 

Cons

– Few altcoins

– Hacked in 2014 and 2015

– 5% fee on credit card purchases

Bitfinex Review 2019 – Features, Fees & Security

Bitfinex Logo

 

Bitfinex Official Logo

Overview

Bitfinex is one of the most well-known cryptocurrency exchanges in the world. By volume, Bitfinex is the world’s biggest exchange, especially when the Central Bank of China decided to impose trading fees on cryptocurrency trading.

Based in Hong Kong, Bitfinex was founded in 2012. The exchange is providing a high level of service for traders by utilizing a wide coin selection and a highly customizable platform interface. The advanced charting tools, a mobile app for Android and iOS, and the other different options are also available.

bitfinex exchange platform

Bitfinex has experienced a number of hacks and its share of the problem. May 2015, a hacker obtained 1,500 BTC from the wallets of the exchange. A later hacker could access around 120,000 BTC by circumventing the exchange’s security. April 2017, Bifinex’s bank accounts were frozen and it persisted for weeks.

 

Currency Supported

Approximately 70 market pairs linked to the 4 base currencies of USD, EUR, BTC and ETH are available. In addition to allowing fiat purchases of the two major cryptocurrencies, a number of other currencies are also available to be traded – including Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Dash (DASH), Ripple (XRP), Monero (XMR), EOS (EOS), OmiseGO (OMG), NEO (NEO), Zcash (ZEC), and 0x (ZRX).

 

Payment Method

Bitfinex clients can deposit and withdraw EUR, JPY, GBP and USD to and from their bank accounts. Bitfinex accepts deposit and withdrawal in the form of cryptocurrencies as well.

Bitfinex advanced feature

Fee

Bitfinex offers a dynamic fee structure that can potentially be low and competitive with industry standards.

Fees are determined by trading volume as well as maker and taker status.

– Maker fee range from 0.0% to 0.1%.

– Taker fee range from 0.055% to 0.2%

*You should know that you have to trade lots of volume for the low fee.

– Deposit fee: Free (There is a minimum deposit.)

– Withdrawal fee:

BTC 0.0004

ETH 0.00135

LTC 0.001

XRP 0.02

Please check the below link for the detailed information.

https://www.bitfinex.com/fees

 

Customer Support

The customer service is available only via email 24/7. The responses can take more than 12 hours.

 

Security

bitfinex security

As a result of its past experience with hacks, Bitfinex has stepped up its security by adopting many safety and security measures. The vast majority of funds are stored in cold storage system. Customer accounts are secured by using the following;

– Email Encryption

– Two-factor authentication(2FA)

– Universal 2nd Factor(U2F)

– Advanced verification tools and withdrawal protection

– Automatic backup of the database

– Protection from DDoS attacks

 

Conclusion

Bitfinex is one of the most established exchanges in the world and has the largest volume in the cryptocurrency industry.

However, Bitfinex has experienced several hacks and loss of assets, that’s why lots of security concerns are still remaining.

Bitfinex is not for beginners. If you would like to trade, start with a small balance and make sure that the withdrawal and security service is available to you.

 

Pros

– Established exchange

– Customizable platform interface

– Variety cryptocurrencies and trading pairs

– High Liquidity

– Lots of trading options

 

Cons

– Several hackings experience

– US Clients not accepted

– Not transparent

Kraken Review 2019 – Ratings, Guides, Security

Kraken Official Logo image

 

 

Kraken Official Logo image

 

Overview

Founded in 2011 by Jesse Powell, Kraken is one of the oldest and most popular cryptocurrency exchanges. It is headquartered in San Francisco, California. Kraken provides high liquidity, safety & security environment, a wide range of features and advanced order types like stop-loss and automated trading.

Kraken exchange homepage

Kraken boasts a high level of liquidity and this results in the fast funding and high trading volumes. The exchange provides a basic interface to help beginners as well.

 

Currency Supported

Kraken offers over 45 market pairs with 7 base currencies which include USD, EUR, GBP, CAD and JPY.

Kraken Coin Exchange offering lists

Popular cryptocurrencies are offered including the following;Bitcoin (XBT) Bitcoin Cash (BCH) Dash (DASH) EOS (EOS) Ethereum Classic (ETC) Ethereum (ETH) Gnosis (GNO) Iconomi (ICN) Litecoin (LTC) Melon (MLN) Augur (REP) Tether (USDT) Dogecoin (XDG) Stellar Lumens (XLM) Monero (XMR) Ripple (XRP) Zcash (ZEC)

 

Countries Supported

Kraken is available all around the world, however, only two language options are available on the website; English and Japanese.

 

Payment Method

Kraken accepts deposit and withdrawal via SEPA, SWIFT, Bank Wire and cryptocurrencies. It takes one to five business day.

 

Fee

Kraken offers wide funding and withdrawal options, and the fee clients pay depend on the tier of their account. The higher the tier, the lower the fees and the more volume clients can trade. The fees range from 0% to 0.26% depending on the tier.

Fees are charged on a per-trade basis and calculated as a percentage of the trading volume.

Please check the below link for the detailed information;

https://www.kraken.com/en-us/features/fee-schedule

 

Customer Support

Kraken Customer Support

The websites provide an extensive support guide covering everything from signup to trading. In most cases, you can find the answer for your troublesome. If not, you can submit a support ticket.

Kraken also offers Live Chat option for customer support.

 

Security

Two-factor authentication(2FA) is available on account login, trading and funding processes for security. Clients can set up a master key for password recovery and 2FA. To maximize clients’ security, global setting lock options are offered.

Kraken Coin Exchange Security Feature

Kraken also keeps most of its assets in cold storage to be secured.

 

Conclusion

In operation since 2011, Kraken has spent a number of years building its reputation in the cryptocurrency industry. The exchange is one of the most reliable by international cryptocurrency traders.

Kraken Coin Exchange Mission

Kraken is a good option for its excellent security features and competitive transaction fees as well as leveraged positions, margin trading etc. However, it is not the best option for beginners due to the complex interface. New clients may have to wait for over a week for verifying their accounts. Despite this, Kraken remains a better option for anyone looking for a reliable and trusted exchange.

 

Pros

– Strong security

– Margin Trading available

– Reputable exchange

– Extensive and precise charting and trading view

 

Cons

– Slow support response

– Long time for signup and verification

– Numerous site and platform errors

Huobi Review 2019 – Fees, Cryptos & Safety

Huobi exchange official logo image

 

Huobi exchange official logo image

 

Overview

Huobi review - aboutHuobi, operated by Huobi Global Limited, was established in 2013. It is a cryptocurrency exchange with a large focus on cryptocurrency analysis and is centered on the Asian market with offices in Hong Kong and Korea in addition to its head Singapore office.

 

Currency Supported

Huobi has currently over 180 coins and 400 trading pairs. There are 3 major cryptocurrency markets for trading pairs (BTC, ETH and USDT) and 1 major fiat market (USD) for the US.

Huobi exchange Market platform Image

The only option for USD trading are BTC, ETH and USDT. USD currency withdrawal and deposit services did not become available until 2019 for US residents.

 

Countries Supported

Huobi offers its platform in over 130 countries and has offices in Singapore, Hong Kong, the US and Korea.

 

Payment Method

Clients can deposit funds into their account using a cryptocurrency transfer.

 

Fee

Huobi charge two types of fees; trade fee and overnight financing. The financing cost is dependent on the liquidity of the underlying asset.

– Trading fee: 0.05%

For more detailed information, please find the following link; https://primexbt.com/fees

 

Limit

Huobi has withdrawal limitations based on various levels of clients verification.

 

Customer Support

Huobi has a great support team providing 24/7 support. Clients can be reached them by email, phone, live chat, ticket or social media. The typical response time is two to three hours. The website has a full complement of FAQ and help sections as well.

 

SecurityHuobi exchange license image

Huobi takes cryptocurrency security to a high level and has invested a lot in security. The exchange offers Two-Factor Authentication(2FA), SMS authentication, email notification and PGP encryptions for emails. Over 98 percent of investor funds are stored in cold storage to defend against hacks. May 2018, Huobi has been the victim from hacking attempts, however, no clients’ funds were lost in the attempts.

 

Conclusion

Huobi used to be one of the leading cryptocurrency exchanges in China, but went through a lot of different phases. Huobi is working on complying with US regulations to enable US citizens to use the platform.

Their basic trading tools are easy to use and understand. The advanced trading tools will prove to be more useful as the cryptocurrency market expands. Huobi still has a better customer service than other cryptocurrency exchange and is struggling to strengthen their security measures.

 

Pros

– Easy to use

– High liquidity

– 24/7 customer support

– A wide range of coins and tokens

 

Cons

– Falses for trading volume