CryptoMarket or CryptoMKT is an online cryptocurrency trading platform with headquarters located in Santiago, Region Metropolitana, Chile, and Várzea da Barra Funda, Brazil. Established in 2016, it is one of the largest and most popular marketplaces for buying digital assets in the LATAM area, especially Argentina, Brazil, and Chile. It also has a presence in the Eurozone and Mexico.
CryptoMarket actively works on creating solutions to become the foundation for the financial services of the new generations. It stands for the freedom to compete against banks by creating new payment systems, investment and global money remittances. The exchange team strives to build a better future with more opportunities for people based on an open, interconnected, and global financial system.
Dysopsis Ireland is a legal entity that owns the platform through which all cryptocurrency purchases and sale operations are carried out and which is responsible for storing digital assets. CryptoMKT is a legal entity domiciled in Chile, Argentina, and Brazil. The platform is voluntarily registered with the Financial Analysis Unit (UAF) in Chile.
The platform strives to provide users with maximum security. It uses the latest generation anti-hacker system and secures funds in physical vaults with multiple signatures. Users’ non-current funds are kept in cold wallets. To register on the platform, users must provide some personal data and verify their identity. Deposits from third parties are not allowed and withdrawals can only be made in the bank account whose information matches the name of the registered user.
The exchange’s anti Money Laundering and Terrorist Financing policy corresponds to the resolutions of the Financial Intelligence Unit (FIU) and the international standards issued by the Financial Action Task Force on Money Laundering.
CryptoMarket provides 24/7 services and various features for buying and selling cryptocurrencies. With 50+ cryptocurrencies avaialble for trading, it allows users to instantly convert their digital assets to their local currency. Clients can deposit, buy, sell, and make withdrawals with Argentine Pesos (ARS), Brazilian Reais (BRL), and Chilean Pesos (CLP). VIP users get special attention from the support team.
CryptomMarket offers spot trading and margin trading when the platform leverages users’ positions to multiply their profits on successful trades. In margin trades, a small interest rate is periodically paid to keep the margin position open. The rates depend on the borrowed currency and vary from 0.039% to 0.012%. For each of the trading pairs, the exchange applies borrowing limits, regardless of whether the position is long or short.
The exchange has implemented momentum and value signals to help users better gauge the on-chain sentiment of cryptocurrencies. Also, the CryptomMarket referral program incentivizes users for inviting their friends to use the platform. Rewards vary by promotion.
The CryptoMarket wallet
By registering on the CryptoMarket, users get an international cryptocurrency wallet that does not require installing desktop applications and is always available via cellphone or computer. The wallet is easy to use and at the same time incorporates high security standards. It allows users to safely store their tokens, receive and send payments to anyone in the world without commission, and has an integrated QR code reader to make payments in just seconds.
The CryptoMarket platform supports several order types for buying and selling cryptocurrencies. They include market orders, limit orders, and their variations.
A market order allows buying or selling an asset at the current market price. A stop market order allows users to buy or sell at a predefined price and it does not use reserve funds. A buy limit order sets a limit price below the market price. A sell limit order has a higher limit price than the market price. Funds for limit orders are reserved in the user’s account while limit orders are displayed in the order book.
A limit order with a stop is executed when a certain stop price is reached. Stop limit orders do not reserve funds and are placed in order books before they are activated. A Post-only limit order only appears in the order book if it is unique and is canceled if it matches any existing order. It guarantees users that they will never pay the taker fee.
CryptoMarket fees are determined by the user’s 30-day trading volume and are recalculated every hour. Makers are charged 0.04-0.09% for placing orders, and the takers pay 0.06-0.09% for order execution. The platform also applies a liquidation fee, which is 0.5% of the value of the position in the quote currency, regardless of whether the position is liquidated upon reaching the liquidation price or by the trader.
Fiat deposit and withdrawal rates vary by currency and country. For example, they make up 0.5% for EUR, 1.2% for ARS, 0% for BRL and CLP deposits. Withdrawal fees are 0.5% for EUR and 0.9% for ARS.
Deposits can be made in a local currency via bank transfer from a user’s personal bank. After making the transfer, users must send the transfer receipt to the support. Deposits can also be made via Mercado Pago, an online payment service. The minimum amount is 500 Argentine pesos.
The CryptoMarket’s team
CryptoMarket was founded by Rafael Meruane Naranjo and Martín Jofré Celis and has a team with robust experience in cryptocurrency technology, blockchain, smart contracts, administrative and financial control, product design, and digital marketing.
Rafael Meruane is the CEO at CryptoMarket and Director at its parent company Dysopsis. Martín Jofré is the Chief Innovation Officer at Dysopsis and also Principal Chief Executive Officer at Uper.co
Denise Cinelli Valdivia is a General Manager at CryptoMarket. She is a journalist with many years of experience in marketing consulting, audiovisual production, customer care, and operational management. Guillermo Escudero, the Country Manager in CryptoMarket, is responsible for strategic partnerships with payment processors. He is also the founder of CriptoCurso.tech and co-founder of SEGUI Investments and Consulting. Flavio Cogliatti de Souza is responsible for customer care. Jose Laguna Gutiérrez has been the creative director and Ux-Ui Designer at CryptoMarket since August 2016.