Blocktrade is a centralized cryptocurrency trading platform with the vision of enabling digital asset trading to everyone. It was established in Luxembourg in July 2018 and has offices in Estonia and Lithuania. The company has obtained a license as a Multilateral Trading Facility in Europe. This allows Blocktrade’s partners to make full use of its services without having to apply for their own license.
This strictly regulated exchange is focused on the latest technologies, the highest security standards, and excellent user experiences. The Blocktrade team aims to create a platform changing the way how both primary and secondary markets operate. The platform offers trading opportunities to a wide range of institutions such as brokers, financial advisors, fintech companies, investment firms, and banks.
Security of personal data and funds always comes first at the Blocktrade exchange. To ensure safety for its clients the platform uses Swiss data centers, secured server locations, and encrypted communication channels. All transactions are checked for suspicious activities, and the funds are protected by an EEA-authorised credit institution or the Bank of Lithuania. The 2-factor authentication for Blocktrade accounts adds an extra layer of security.
Traders can access the Blocktrade platform via the web browser as well as the mobile application. The Blocktrade app can be downloaded from Google Play or App Store giving traders full functionality on the go. Residents from such US regions as Washington, New York, Virgin Islands, and Hawaii are not allowed to trade on the platform.
The Blocktrade platform provides such services as trading, API, an educational blog, a wallet, and token listings.
To increase the community power the platform suggests resources to help new investors get a financial education. They can learn everything they need to know about the markets, key players, rules, and get a clear understanding of what different tokens are.
The intuitive API service allows traders to create applications they need to execute their trading strategy. Any trading platform can connect to the Blocktrade exchange and customize its data to offer customers powerful trading strategies and analytical tools.
Blocktrade provides the listing process for security and utility tokens that includes rigorous asset validation and analysis. If a token conflicts with the European regulations, it cannot be listed on Blocktrade.
Blocktrade trading features
The platform provides investors with real-time information, state-of-the-art technology, and a user-friendly interface to make buying and selling cryptocurrencies as easy as possible. The dashboard comes with the most important shortcuts: Hot Trade, Portfolio performance, recent activity, the wallet, and quick trade.
Hot Trade is a section where all the most traded pairs are shown. In Portfolio Performance, users can see all the available currencies they own. The Recipients widget is a place where users can track all their transactions. The Recent activity section is a place where users can track all their deposits and withdrawals.
To start trading investors go to Marketplace where they can choose the desired currency pair and the way they want to trade: Quick Trade or Tradeview. Quick Trade is a place where you can quickly sell or buy the selected pair. Tradeview is the most important place on the exchange where users can find everything they need for trading: graphs, order book, market history, current price, buy or sell section, recent orders, limit order and stop order buttons.
Blocktrade platform is available for both individuals and companies, so membership is divided into two categories: retail membership and institutional membership, which in their turn have different levels. Retail membership for individuals has three levels with different costs: basic, advanced, and premium. Institutional membership levels are standard and professional. For different levels, different trading fees are applied.
BTT is a utility token issued by the Blocktrade exchange to power its ecosystem. The Blocktrade token is based on a not mineable consensus mechanism. It is operating on the Ethereum blockchain and has a maximum supply of 57,746,762 coins, all of which have already been issued. BTT is primarily used for paying membership fees on the exchange. Users who pay with BTT get a 50% discount on their membership.
The choice of cryptocurrencies on the Blocktrade exchange is not diverse as only 10 tokens are available for trading. Depositing funds is possible in both fiat (EUR) and digital assets. For fiat deposits, investors need to pass the KYC process and add a SEPA account. To put fiat funds onto their accounts users pay 5% for deposits via credit cards, 1 EUR for SEPA and other deposits. There are no fees for depositing crypto-assets.
The trading fee of 0.30% is applied to all trading pairs for users without membership. Users with membership pay 0.01-0.08% commissions. The minimum withdrawals and withdrawal fees depend on the token type. For example, the fee for Bitcoin withdrawal is 0.00005 BTC + 0.50%, for Ether it makes up 0.003 ETH + 0.50%, for Litecoin it is 0.0007 LTC + 0.50%. Withdrawals of fiat currencies are charged 1 EUR for SEPA withdrawals and 10 EUR + 0.10% for other ones. Identity verification is obligatory for withdrawing funds. It is worth noting that Blocktrade supports only smart contract transactions.
Blocktrade team and partners
Luka Gubo is the founder of Blocktrade.com with experience in trading, investing, and risk management. He is also the author of several books and research papers. He worked as the CEO of Blocktrade from February 2018 until September 2020, but at the time of writing, he is a member of its Advisory Board.
Bernhard Blaha, an early adopter of blockchain, has been the CEO at Blocktrade since November 2020. He is also the co-creator and board member of the Digital Asset Association of Austria (DAAA), the company supporting crypto start-ups.
Other team members include Luka Praper, the Chief Financial Officer, Damjan Kužnar, the Chief Technology Officer, and Rok Pirnat Živec, the Head of Customer Service. Alexandre Horvath, a well-known cybersecurity expert, is on the Blocktrade Advisory Board.
Blocktrade has managed to build a strong network of trusted partners among which are CMS (a global law firm), CM-Equity (a German investment firm providing asset management and brokerage services for crypto assets), Mangopay (a company suggesting payment solutions for electronic funds), and Onfido (a technology company which helps to verify customers thoroughly and fast).