Crypto-investment and trading transactions are made simpler and more efficient each day, and Singapore-based exchange platform Cryptology is now in the process of building the next-generation cryptocurrency exchange which combines crypto and fiat transactions on an intuitive medium and mobile app. Likewise, it also aims to step up the game against its rivals by partnering with a payment system that enforces lower transaction fees for users.
WEB AND MOBILE PLATFORMS
The web version may not be portable for many, but Cryptology clears out that the platform is comfortable to use and absolutely user-friendly. All transactions done within it are safe, secure, and fast for both novice and neophyte crypto-users. Confirmations and verification of transactions are quick, and their dedicated customer support representatives will be available all day, all week.
As for the mobile version, the features are more advanced as the company is more focused on developing a platform that can satisfy the needs and preferences of today’s generation. Cryptology already launched an IOS and Android version last March, following the desktop version’s launch. Today’s version includes a more seamless performance and additional features. The app can now verify bank cards in just 30 seconds, and users can start trading in minutes.
The compatibility of web and mobile platforms are perfect for Visa and Mastercard. Deposit transactions into crypto accounts can be done using either of the cards. But, at the moment, withdrawal transactions are only supported through bank transfers in Europe. The most-popular cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are all supported. Cryptology ensures that they are planning to add more payment methods to make fiat-to-crypto conversions more accessible in the future.
VERIFICATION LEVELS
To make all processes secure and to follow the Know Your Customer procedure, Cryptology implements three verification levels for the platform. The first level is a short questionnaire with personal data, followed by the second level which requires a photo ID and a selfie. The third and last level includes a proof of address and other supplementary documents.
All users need to comply in order for their transactions to be verified. For larger amounts, advanced verification is required.
TRANSACTION FEES
Withdrawals using a bank account requires a transaction fee of 7 EUR (SEPA). For crypto-withdrawals, the corresponding charge ranges from 0.002 percent to 0.005. Bank wire transactions are also supported and free of charge.
Trading fees are at 0.15 percent for makers and 0.25 percent for takers. The minimum trading order for fiat currency is $0.01 or whichever is the equivalent of that amount in cryptocurrency.
