Gatecoin's interface

Founded in 2013, Gatecoin is a Hong Kong based cryptocurrency exchange that finds itself at #25 on BlockExplorer’s top 25 exchanges of 2017 list. Gatecoin offers a good number of trading pairs and an API for programmatic trading. Of the 90 trading pairs Gatecoin offers, there are both crypto/fiat and crypto/crypto offered, with the crypto/fiat pair’s fiat side being one of USD, EUR, or HKD.

Gatecoin has a respectable number of trading pairs and offers an API for programmatic trading. Which makes it a good choice for any traders located in Hong Kong, especially those looking to trade programmatically.

Gatecoin

gatecoin cryptoURL: gatecoin.com
Launched: 2013
Trading pairs: 60
Deposit Fees: Yes
Withdrawal Fees: Yes
Trading fees: Yes
Verification: Yes (Three levels)
Margin Trading: No

Fees and Limits

Fee wise, Gatecoin charges fees based on the trader’s volume over the last 31 days. Unlike some other exchanges, the 31 day period is a rolling one, meaning that you do not have to wait an entire period if you have significantly changed the volume of your trades. Fee levels are broken into the standard maker/taker distribution, where the taker pays a higher percentage than the maker. On the low end, 50BTC/31d, makers pay a fee of 0.25% and takers pay a fee of 0.35%. And on the high end, 20,000+BTC/31d, makers pay 0.02% and takers pay 0.1%. A complete breakdown of the trading fees charged can be found on Gatecoin’s fee page.

For deposit and withdrawal, Gatecoin only seems to charge fees for fiat. The fees paid depends on the transfer method, for example, there is a 1EUR deposit and 5EUR withdrawal fee for SEPA based deposits and withdrawals. The full list of fees can be found on Gatecoin’s transfer costs page.

Limit wise, accounts are limited based on their verification level. For crypto, you can transfer an unlimited amount as soon as you have completed tier 1 verification. And for fiat, tier 1 accounts are limited to $50,000USD or equivalent, which is upped to $100,000USD or equivalent for tier 2. There is no indicated timeframe for these limits.

Registration

Gatecoin’s registration method is a multi-step process that requires a decent amount of personal information. Registration cannot be completed without providing said information.

The first step is an email and password and is input from the normal registration form. Once you have completed the initial registration, you will be required to go through a further five steps on login. Each step requires some personal information from you. With the first step requiring your first and last name, your date of birth, and your current nationality. Following step 1, step 2 requires contact details, specifically, your address and phone number. Step three is simple and requires you to confirm an email address for your account. While step four is essentially verification for level 1, requiring a scanned copy of a photo ID and some proof of residence. And lastly, step five is a questionnaire asking for information regarding your source of funds.

Verification

Gatecoin has three verification tiers, where the first is no verification, the second is “verified”, and the third is “Certified”

Tier 2 verification requires a photo ID no older than ten years, and a proof of residence no older than three months, and a filled out ‘source of funds questionnaire’. Tier 2 is completed as a part of the initial account registration process.

“Certified” verification requires the same documents from Tier 2 to be mailed in as certified hard copies. Once the certified copies of the documents have been received, a video conference based verification takes place. During the Skype call, you will need to show your ID to prove that you are who you say you are. Alternatively, Hong Kong residents can have their documents certified at Gatecoin’s office.

Interface

Gatecoin’s interface is a bright white with two-toned blues for highlights, there is no dark mode offered. The bright background makes the interface difficult to use at night or in dark settings. The trading interface itself is well balanced, with a decent amount of information provided. As for the layout of the trading interface, it is split into four sections. The upper left section holds an order submission form. And on its right is the currently selected trading pair’s order book. On the lower half, there is a trade history on the left and a chart on the right. Along the top of the page is the pair selection dropdown, as well as a small overview of the current ask, bid, volume, high, low, and last trade for the currently selected pair.

Security

Account security wise, Gatecoin offers 2FA by means of Google Authenticator. Gatecoin offers a very granular account security configuration tool that allows you to specify what account actions will be logged via email, require confirmation via email, and require confirmation via 2FA. Granular controls are a welcome sight and make securing your account very easy. Gatecoin also states that all user funds are stored in per-user accounts on their side.

Founded in 2016, ACX is an Australian cryptocurrency exchange that offers 8 trading pairs. Of the 8 pairs ACX offers, 5 are against AUD and 3 are against BTC. ACX supports a daily volume of 471 BTC/d, making it a medium size exchange. That daily volume, along with the fact that it offers a full API for trading programmatically makes ACX a good choice for any Australian traders looking for a local exchange. Traders from other countries are encouraged to consider other exchanges closer to them for latency and fee reasons.

ACX currently finds itself at #24 on BlockExplorer’s list of the top 25 cryptocurrency exchanges of 2017.

ACX

acx cryptoURL: ACX.io
Launched: 2016
Trading pairs: 8
Deposit Fees: No
Withdrawal Fees: No
Trading fees: Yes
Verification: Yes
Margin Trading: No

Fees and Limits

ACX charges a flat fee of 0.2% on all trades for both makers and takers and does not charge any deposit or withdrawal fees.

Limit wise, ACX has a withdrawal limit of $10,000 AUD per day for individual accounts and $30,000 AUD per day for corporate accounts. Both account types have a $100 AUD minimum deposit. For cryptocurrency withdrawals, anything over $50,000 AUD equivalent must occur during ACX business hours for security reasons.

Registration

Registering an account on ACX is a simple process, which starts with providing an email and password, and ends with confirming said email, setting up 2FA, and the verification process. Note that all three final steps are required in order to trade.

Verification

Verification on ACX follows ‘normal’ Know Your Customer rules for verification. Meaning that a photo ID with at least 6 months of validity remaining, proof of residence, and a bank statement are required for verification. The bank statement must come from the bank you will be using to credit the account. For non-Australian traders, only a passport can be used to satisfy the ID requirement, while Australian traders may use their passport, drivers licence, or proof of age card.

Interface

ACX’s interface has a jarring mix of light and dark elements, with the homepage switching between the styles in bars as you scroll down. The trading interface continues this trend but to a lesser extent. At the top of the page is a bright white bar with some account information and a place to select trading pairs. The rest of the trading interface has a dark theme with muted colours for highlights.

Otherwise, the layout of the trading interface is well thought and takes advantage of the full width of your screen. Front and center is a pair of charts stacked on top of each other. Specifically, a price chart and a market depth chart. And on either side of the charts is both a market history list and a current order book, with a personal order book below the pair wide one. Trades can be input on the left of the page.

Security

ACX offers 2FA in a variety of ways, of which the recommended is Google Authenticator. Otherwise, ACX requires that all large crypto trades (over $50,000 AUD equivalent) occur during business hours.

Headquartered in Kiev, Liqui is a crypto-only cryptocurrency exchange with a 235 trading pairs. Liqui offers both a public and private API for programmatic trading and states a 24-hour volume of around 1250 BTC. Liqui’s numerous trading pairs are all against its three main currencies, BTC, ETH, and USDT, meaning that those looking to trade with fiat will want to find a different exchange or a method of converting their crypto after the fact. Overall, It is a good choice for small to medium traders, especially those looking for the ability to trade programmatically against a large number of cryptocurrencies.

Liqui finds itself at #23 on BlockExplorer’s list of the top 25 cryptocurrency exchanges of 2017.

Liqui

liqui cryptoURL: liqui.io
Launched: 2016
Trading pairs: 235
Deposit Fees: No
Withdrawal Fees: No
Trading fees: Yes
Verification: Yes
Margin Trading: No (coming soon)

Fees and Limits

Liqui lays out its fees in the usual maker/taker scheme, where makers pay a 0.10% fee and takers pay a 0.25% fee. All of Liqui’s trading pairs currently have the same fees applied to them. Fees are listed on Liqui’s Fees and Limits page, with the fees specifically only listed for the three ‘main’ cryptocurrencies you trade against; Bitcoin, Ethereum, and USD Tether.

Limit-wise, Liqui has three levels; New accounts are split into three 24 hour periods, where their withdrawal limit increases by 5,000 USDT or equivalent per day, starting at 5,000 USDT. Following the new account restrictions, an account receives the “Basic Account” withdrawal limits of 50,000 USDT or equivalent per day. And lastly, for “Enhanced Accounts”, the limit is 500,000 USDT or equivalent per day. Note that the Enhanced Account’s limit requires both verification and 2FA to be enabled on the account.

Registration

Registering an account on Liqui is simple, and requires a username, email, and password. A confirmation email will be sent to you once you have completed the registration form. And after following the confirmation link in said email, you can begin to trade. Note that new accounts have withdrawal limits that are explained above.

Verification

Liqui has one verification level, the requirements for which are not published. Getting verified begins with a support ticket at their support site. Assume that for verification, the usual information is required. Namely a photo ID and proof of residence.

Interface

Liqui has a soft feel to its interface, which by default is a cool white with blue highlights. Liqui’s interface also offers a dark mode, which can be toggled with the lamp icon at the top of the page. The dark mode maintains the same highlights but trades the light background and dark text for a dark background with light text. Almost all of the interface switches seamlessly, with charts requiring a refresh. Some users may find the dark mode difficult to read, as the contrast between the text and the background is not very high.

On Liquis main trading page, there is a chart and summary front and centre, with buy and sell dialogues below. Further below is an area to select trading pairs, the current order book, trade history, and your personal trade history.

Security

Liqui offers decent security measures, including 2FA. When logging in to your account, without having 2FA configured, you are emailed a security code for that login. The security code is a massive 64 character string, making it safe from brute forcing in the 5 minutes which it works. Two Factor Authentication is offered via Google Authenticator and is simple to set up, using the standard ‘scan this QR code’ approach.

Otherwise, Liqui offers a complete overview of account login activity. Specifically, you can see all active sessions, with the ability to close them, and you can see all login activity, successful or otherwise. Both account information sections have the date, time, and IP address of the occurrence listed.

closed

Peer-to-peer (P2P) cryptocurrency exchange CoinTouch has shut its virtual doors over concerns related to the passage of the European Union’s new General Data Protection Regulation (GDPR), which will take effect later this month.

The exchange — which was based out of London and opened in 2014 — did not charge fees, and founder Chris Beach operated it at a loss as a service to the cryptocurrency community.

The platform allowed Facebook and Google users to securely set up P2P cryptocurrency trades with users within their social networks. When a trader placed a bid or offer, it would become visible to the user’s friends and friends-of-friends, which ensured that traders were able to verify the identities of their counterparties. If another trader wanted to fulfill an order, he or she could automatically send a message to the other user through Facebook, where the two parties could arrange the trade.

However, Beach wrote in a statement announcing the shutdown that the recently-passed GDPR — which adopts new standards for individual data privacy and use — introduces regulatory uncertainty that makes it too risky to continue to operate CoinTouch, particularly as a free service.

“I asked trusted contacts in the industry for advice on how to make CoinTouch GDPR compliant. They came back with different answers (through no fault of their own – the law is ambiguously defined),” Beach said. “I concluded that I cannot justify running a free service while taking on a legal risk.”

The developer, who operates a number of non-profit websites, said that he is in the process of shutting them all down before the new rules — which he says actually reinforce the dominance of tech conglomerates like Facebook, Google, and Twitter — take effect.

“So, perversely, this new EU law hurts small website like mine, but helps reinforce the dominance of Facebook, Google, and Twitter, who are able to prepare and defend themselves using established legal teams and cash reserves, and who now face less competition from startups,” he concluded.

Featured Image from Pixabay

Founded in 2014 by the creators of aftermarket.pl, BitMarket is a Polish cryptocurrency exchange that finds itself at number 18 on BlockExplorer’s top 25 cryptocurrency exchanges of 2017 list. This exchange offers 6 trading pairs, all of which are crypto/fiat.

BitMarket has some moderate activity, with almost 100 BTC traded in a single day on its BTC/PLN trading pair. It is recommended for all polish traders, especially those looking for a mid-volume market with a robust API for programmatic trading.

 

BitMarket

bitmarket cryptoURL: BitMarket.net

Launched: 2014

Trading pairs: 6, all fiat/crypto

Deposit Fees: Yes

Withdrawal Fees: Yes

Trading fees: Yes 0.0% – 0.45%

Verification: Yes, three levels

Margin Trading: Yes

Registration

Registration on BitMarket requires a first and last name, an email address, a password, and a current physical address. Once the information is filled out, there are four checkboxes that are required, one of which links to a document that seems to only be available in polish.

Verification

BitMarket has three verification levels, none of which are required unless you want to deposit or withdraw fiat, or are trading more than 15000 EUR in a year.

Verification level one is the simplest to acquire. You are required to send BitMarket a scanned ID that states your current address, or a scanned ID and some proof of residence. For level two, a verification code is sent to your stated address via post. The last verification level is required if you wish to use instant bank transfers to fund your account. Each bank account you want to transfer from has to be verified individually by way of a 1 PLN transfer to BitMarket.

Fees

BitMarket uses the usual Maker/Taker scheme that most exchanges use to structure their trading fees. Specifically, BitMarket bases its fees off of your last 30 days of trading. BitMarket does not state exactly when your current fee bracket is updated. On the low end, makers pay 0.15% for between 0 and 99.99 EUR traded, while takers pay 0.45 for the same. For the high end, over 500,000, makers pay no fees, and takers pay a fee of 0.30%. Margin trades follow the same fees above, with opening a position taking the maker’s fee, and closing a position taking the takers fee. After opening, margin trades pay a daily fee outlined on BitMarket’s fees page

For deposit and withdrawal, the fees you pay depend on the currency and the method of transfer. Cryptocurrencies have no deposit fees and have a small withdrawal fee. For fiat deposit, there is no fee for PLN, while EUR deposits cost between 2 and 5 EUR. Both PLN and EUR pay withdrawal fees, PLN ranging from 2 PLN to 20 PLN, while EUR is a flat 2 EUR.

Limits are set at 100,000,000 PLN or equivalent daily on deposits, aside from cryptocurrencies. And there is a limit of 100,000,000 or equivalent daily for withdrawal on all currencies.

Interface

BitMarket’s interface overall is a very bright white with green and blue accents. There is no dark mode available, meaning that late night trading could be a source of eye strain.

The trading interface feels quite simplistic, with a chart, order submission, order book, and trade history all stacked vertically. The chart itself while informative feels sluggish when changing settings, and overall seems somewhat blurred.

Security

BitMarket seems to have some very trigger happy bot protection in the form of a captcha via Cloudflare. I found myself solving one at least once every three page loads. Otherwise, BitMarket offers Two Factor Authentication by way of Google Authenticator.