elegro

elegro Review

What is elegro?

elegro is a newer Estonian exchange. With HQs in Tallinn, elegro is an EU regulated blockchain-based platform developing FinTech payment solutions that make it fast, easy, and secure to use crypto in daily life. It might be a bit misleading to call elegro a crypto exchange though. The services offered are more like the services of a broker.

Certified Coins

elegro has an interesting offering called Certified Coins. Certified Coins is an exchanger that was developed to allow individuals to make smooth crypto-to-fiat and fiat-to-crypto exchanges. Each transaction made via Certified Coins is supported with an official document proving the legal origin of the obtained funds. With Certified Coins, you can buy and sell cryptocurrencies in 53 countries covered by SEPA, SWIFT, Fedwire, and ACH. In addition, the exchanger offers you an opportunity to make deposits in the regular currency of your choice. Currently, you can buy crypto with more than 35 fiat currencies.

Mobile Support

Recently, elegro has also launched a mobile exchange app that allows trading cryptocurrencies on the go in any part of the world.

Two Advantages

As two of their advantages, elegro promotes that its platform is available in over 50 countries and that they support 4 major cryptocurrencies; Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The latter statement is, however, not particularly impressive compared to most exchanges out there.

elegro 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. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.

On Elegro’s Certified Coins’ order page, you can find order history, order explorer, and 4 price charts for each of the supported cryptocurrencies. Using the Order Explorer, you can track the status of your current order. You can also use the Document Verification tab to verify your certificate of origin or proof of sale receipt by putting its number in the corresponding field and clicking the “Verify” button.

elegro Fees

elegro Trading fees

This exchange doesn’t charge different fees between takers and makers, as there are no real takers and makers. The fees start at 1.50% of the order value. Compared to regular centralized exchanges, this fee is 6 times higher than industry average (0.25%). However, it’s also difficult to compare these two types of parties at all. We should note here though that the trading fees reduce as the trading volumes increase.

elegro Withdrawal fees

elegro charges no fees for crypto withdrawals. This distinguishes elegro’s Certified Coins-offering from other crypto exchange services.

Deposit Methods

This exchange offers wire transfer as a deposit method and since 2020, you can also deposit via credit card. This makes elegro a so called “entry-level exchange”, where new crypto investors can enter the thrilling crypto world.