Cryptal Exchange

Cryptal Exchange Review

What is Cryptal Exchange?

Cryptal Exchange is a cryptocurrency exchange registered in Georgia and has been active since 2020. The platform is available in two languages: English and Georgian. To our knowledge, it is the only crypto exchange platform available in the Georgian script (which is Georgia's own writing system). 

Bitcoin, Ethereum, Tether, Litecoin and Bitcoin Cash

Cryptal Exchange offers trading in five different cryptocurrencies: Bitcoin, Ethereum, Tether, Litecoin and Bitcoin Cash.

Cryptal Exchange Mobile Compatibility

Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that Cryptal Exchange’s trading platform is also mobile compatible. This is the exchange's wallet interface in mobile format: 

US-investors

Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.

Cryptal Exchange does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our exchange filters, you can sort the exchanges based on whether or not they accept US-investors.

Cryptal Exchange Trading View

Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at Cryptal Exchange (when not signed in):

It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.

Cryptal Exchange Fees

Cryptal Exchange Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

Cryptal Exchange charges what we call flat fees, meaning that both the takers and the makers pay the same fee when it comes to spot trading: 0.25%. These spot trading taker fees are a bit above the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. According to Cryptowisser.com's latest empirical study, the industry average spot trading taker fees were 0.217% and the corresponding spot trading maker fees were 0.164%. 

Cryptal Exchange Withdrawal fees

This exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average, which was 0.000643 BTC per BTC-withdrawal the last time we made an empirical study (report available here).

Accordingly, the withdrawal fees here are an edge against Cryptal Exchange's competitors in the crypto exchange industry, but the trading fees are not.

Deposit Methods

Cryptal Exchange lets you deposit assets to the exchange in many different ways, through wire transfer, debit card, and also by just depositing existing cryptocurrency assets. Seeing as fiat currency deposits are possible at this trading platform, Cryptal Exchange qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.

The deposit interface where you do a credit card deposit is displayed in the following picture. We think it looks very straight-forward and easy to comprehend. You might note here that there are high fees involved when doing credit card deposits - 3.00% for VISA and Mastercard and 4.50% for American Express deposits. Please be advised though that these fees goes to the card companies, and not to Cryptal Exchange itself.