Safello

Safello Review

What is Safello?

Safello is a Swedish cryptocurrency exchange that has been active since 2018.

Restricted Jurisdictions

You can only trade here if you’re from the EEA or the United Kingdom. This means that African, Asian, South or North American investors can’t trade at Safello. Are you from any of these excluded geographies? Don’t worry. There are many other venues that also offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.

Safello Advantages

Safello promotes three things in particular as advantages with using their platform. The transactions are instant, security is their main priority and the fees are transparent. We feel that all of these factors are indeed important and should be considered important by any person looking for a new cryptocurrency exchange.

Safello 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. They normally also have buy and sell-boxes. At this exchange, there are no fancy graphs or charting tools. There is simply an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase interface at Safello:

Safello Fees

Safello Trading fees

This Swedish 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 buying and selling BTC. These are Safello's fees for trading on the platform: 

The above fees are a bit on the high end.

Safello Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is arguably around 0.0008 BTC when you withdraw BTC, but we see more and more changes that have started charging 0.0005 BTC per withdrawal. 0.0005 BTC is thus establishing itself as the new industry average.

At Safello you only have to pay the network fees when withdrawing. These are the fees that miners receive to confirm transactions. Only charging network fees is competitive.

Deposit Methods

At this trading venue, you can also deposit in a variety of ways. For Swedish investors, the Swish-alternative is presumably very attractive. However, you can not deposit fiat currency through credit cards here.