Cryptology

The fees and minimum deposit amounts differ for all these options, though. For example, the fee for a debit card deposit is 3,53% with a minimum of $5 or €20. The SEPA deposit incurs a 0,45% fee with a minimum of €1, while the wire transfer incurs no fees at all, but comes with a minimum amount of €25. Also, it’s worth noting that wire transfers are only available to fully verified users and institutions. As for Brazil, the fees make up 1,7% for Boleto and Deposit Express and 3,6% for Loterica, while all of them come with a minimum of $1.

One of the weakest spots of the Cryptology exchange, however, refers to fiat withdrawals as the available options are quite limited. Thus, the euro withdrawals are only available via SEPA with a €7 fee, while the USD withdrawals are only available to the Unlimint Ltd. bank accounts and incur a $7 fee. There are no other ways to withdraw fiat from the platform in any other country aside from those that are a part of SEPA.

The crypto withdrawals, however, are available for all users with different fees for each of the cryptocurrencies. The costs are generally in line with what other crypto exchanges can offer. For example, the fee for Bitcoin withdrawals is 0,0005 BTC, Ethereum withdrawals cost 0,009 ETH, and Litecoin withdrawals set a user up for 0,0045 LTC. The minimum withdrawal amount is normally the same as the fee. Cryptology trading fees

The trading fees for spot pairs on Cryptology equal 0,2% for both makers and takers. The size of the fees is pretty average as the largest market players such as Huobi and Kraken charge approximately the same amount. There are no discounts for large volume traders, though. The trading fees differ for makers and takers for the futures. Thus, the platform charges 0,025% for those creating liquidity and 0,05% for those removing it. The ecosystem of Cryptology

Cryptology offers quite a customary set of services such as spot trading, futures with up to 100x leverage, crypto savings, and a launchpad for new projects. At this, the process of spot and futures trading is also fairly similar to what is present on any other centralized exchange. The charts are provided by TradingView, the market leader in trading charts and indicators. The integration makes it possible to perform technical analysis without leaving the trading interface.

The savings option allows users to earn up to 15% APY on stablecoins and up to 150% APY on selected cryptocurrencies like FTRB. As Cryptology describes it, the earnings come from the “market-neutral strategies with low risk and high profit”. There’s also an option to participate in crypto staking that offers up to 12% APY.

The launchpad offers purchase contests with rewards to the most active participants. In addition, there are trading competitions with rewards shared among the top performers, airdrops to those staking other cryptos, giveaways, and many other activities providing the ultimate flexibility for those willing to list their coins on the Cryptology exchange. KYC/AML on Cryptology

Just like most centralized exchanges, Cryptology requires its users to complete KYC in order to be able to withdraw any funds, be it crypto or fiat, from the exchange. The KYC verification is provided by Cryptology’s partner, Sum&Substance.

For those who value privacy, Cryptology offers an anonymous cryptocurrency Zcash. However, at the time of writing, Zcash withdrawals are unavailable, making the anonymous use of crypto purchased at Cryptology impossible. Security of funds

Cryptology treats the security of its users’ funds quite seriously. At the time of writing, it is one of ten crypto exchanges to receive the AAA rating by CERtified for both excellent security and full solvency. Besides, no hacking incidents have ever taken place with the Cryptology exchange, nor has it been subject to any legal investigations. The exchange also provides up to a $50,000 USD bounty for any bugs that could be used to steal users’ funds or manipulate the payments systems. Cryptology team and partners

The Cryptology exchange is managed by CYPHER OÜ, an Estonian firm created specifically for managing the exchange. However, neither Cryptology’s own sources nor any other official documents reveal anything about Cryptology’s team. According to the Estonian tax documentation, the official representative of the company is Aleksandr Škirin, who’s also the representative for six other companies, mostly crypto- and IT-related. With such obscurity, it’s not possible to evaluate the team’s experience on the subject, and as such, its technical competence, which can be a red flag for many cautious investors.

As for the partnership network, Cryptology collaborates with a liquidity provider Finery Markets, as well as the aforementioned Unlimint bank and the KYC provider Sum&Substance.