What is SafeTrade?
SafeTrade, a Canadian exchange launched in 2018, is associated with the SafeCoin crypto. The platform prides itself on being a community-driven exchange, emphasizing its commitment to user involvement.
US-Investors
While SafeTrade does not explicitly restrict US investors, it does not provide a clear statement regarding their eligibility to trade on the platform.
Trading Fees
SafeTrade adopts a "flat fee model" for trading, charging a consistent 0.10% fee for both takers and makers. This fee structure positions SafeTrade as a cost-effective option, as the industry average is around 0.25%. The trend in the industry is towards lower fees, making SafeTrade's fees competitive.
Withdrawal Fees
With a withdrawal fee of 0.000098 BTC per BTC withdrawal, SafeTrade significantly undercuts the industry average, which is approximately 0.0004599 BTC per BTC withdrawal. The platform's withdrawal fees align with or even fall below the industry average.
Deposit Methods
SafeTrade exclusively accepts cryptocurrency deposits, restricting new crypto investors who do not already possess digital assets. Prospective traders must first acquire cryptocurrencies from another exchange before depositing them into SafeTrade.
Conclusion
SafeTrade, with its low trading and withdrawal fees, presents itself as an attractive option for cryptocurrency traders. However, the limitation to cryptocurrency deposits may pose a barrier for new investors without existing digital assets.
What are the trading fees on SafeTrade?
SafeTrade adopts a "flat fee model" for trading, charging a consistent 0.10% fee for both takers and makers. This fee structure positions SafeTrade as a cost-effective option, as the industry average is around 0.25%. The trend in the industry is towards lower fees, making SafeTrade's fees competitive.
Does SafeTrade offer leverage trading?
SafeTrade does not currently offer margin trading or leverage options.
Is SafeTrade safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
