Magnr
Exchange Fees
Deposit Methods
Cryptos (1)
UPDATE 26 February 2019: This exchange is currently closed. It has the following message on their website:
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Magnr Review
Magnr is a British cryptocurrency exchange, based in London. It started its operations in 2013.
Magnr does not list US-investors as prohibited from trading, but US-investors should always do their own independent assessment of any problems arising from their residency or citizenship.
This exchange only offers trading in Bitcoin.
Magnr promises its users that they always have full and access to their Bitcoin funds at any time, without ever worrying about withdrawal limitations. Furthermore, the users’ funds are allegedly secured and protected using BitGo’s industry-leading technology. Accounts utilize multiple private keys and a hierarchical address structure for your security. Finally, all web traffic data is communicated over SSL 256-bit AES encryption channels to ensure the protection of all information.
Since its inception in 2013, the traded volume at this exchange amounts to almost USD 126 million.
This exchange only offers trading in Bitcoin. If you would prefer a coin exchange with a more extensive selection of trading pairs, we recommend you to check out Changelly or KuCoin.
Magnr Fees
Magnr Trading fees
This exchange offers a flat trading fee of 0.45%. The exchange does accordingly not distinguish between takers and makers. 0.45% is far above the industry average. The industry average is arguably around 0.25%. One should consider whether this exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.
Magnr Withdrawal fees
To our knowledge, Magnr does not charge any withdrawal fees at all for withdrawing BTC. This is a very strong competitive edge in the market and really distinguishes this exchange from most other top crypto exchanges.
Deposit Methods
Magnr does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them at this exchange.