Cryptomate

Cryptomate Review

What is Cryptomate?

Cryptomate is a British cryptocurrency exchange. It has been active since 2015.

Advantages

The exchange itself highlights three factors as reasons to choose Cryptomate ahead of any other exchange. They say that it is fast, secure and easy. All of these factors are naturally very important to anyone contemplating their choice of cryptocurrency exchange.

US-investors

US-investors are not allowed to trade here. So if you are a US-investor and want to trade at this exchange, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.

CryptoMate Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. At this exchange, there is only a purchase interface and a small price chart. This makes it easily understandable for new crypto investors, while it might lack many features that more experienced traders look for. The below is a picture of the user interface when purchasing cryptocurrencies at Cryptomate:

Cryptomate Fees

Cryptomate Trading fees

This British coin exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is that you can buy BTC, ETH, and a number of other altcoins. When buying, the purchase price offered by this exchange is usually way higher than the market price. The mark-up is not specified anywhere.

However, on the date of last updating this review (29 May 2020), we did a test where we compared to purchase price for 1 BTC offered by Cryptomate to the current market price as presented by Coinmarketcap. We then learned that we would get 6.07% less Bitcoin at Cryptomate, than we would have if we had bought it somewhere at market price. Accordingly, we have listed 6.07% as the trading fees here. These fees are not the worst we have seen at crypto shops like Cryptomate, but they are certainly not very consumer friendly either.

Cryptomate Withdrawal fees

Considering how this exchange operates, withdrawal fees are irrelevant.

Deposit Methods

Cryptomate offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.