Just like other rising Cryptocurrency supportive sites, Cryptomkt provides an exchange platform for Ethereum users. The South American Exchange site, gives crypto investors a chance to sell and buy their Ether automatically into their country currencies. Through this, they won’t have to incur unnecessary cash exchanges witnessed in other sites. Currently, the supportive coins on this digital site include Chilean Peso, Euro, Argentinian Peso and Brazilian Real (which will be coming up in August 2018).
How does CRYPTOMKT work?
Through the platform, users gain access to one account that comes with several verification levels. The levels comprise of Observer, Basic, Trader and institutional. However, users with the observer status on the platform get trading restrictions unless they upgrade their membership to the Trader level.
Once they receive the Trader marking, they get permission to trade up to $50,000 on a monthly basis. However, for this to happen, investors will have to provide their bank account information and undergo thorough verification processes. According to the developers of Cryptomkt, the restrictive measures aimed at curbing the increasing levels of money laundering in similar transactions.
Furthermore, users of Cryptomkt accounts, receive a free Ethureum wallet to aid in service delivery. Here, they can enjoy top-notch security details and make transaction transfers to other Ethureum wallets for more than 100 ETH worth of amounts. The use of smart contract technology makes these transactions automatic while giving the privacy and security of all involved parties priority. Also, users don’t have to struggle to search for supportive wallets as the site displays the Ethureum wallets in support of these services.
Why should I use CRYPTOMKT?
First and foremost, the site is an incredible option as it allows users to buy and sell their Ethureum valuables in various fiat currencies. Also, although information on the website reveals that bank transfers take up to a maximum of two working days, it takes only a few minutes in most cases. Additionally, the site seems well organized for an entry-level exchange.it has excellent features some of which allow users to make predictions and analysis. There are also statistical indicators that help users’ gain in-depth understanding of price variations.
Additionally, the site contains vast information that’s of great help to beginners. For instance, the support center provides helpful tutorials on how to come up with an Ethureum wallet as well as general platform usage. Also, according to the developers, there is a guarantee on the security of user funds as the storage is an offline multi-signature reserve.
Why shouldn’t I use?
Trading on the site is strictly against Ethureum as there is no other supportive Cryptocurrency or ERC-20 tokens for that matter. Also, the 0.70% trading fees seem on a high end even with the massive volumes discounts. The charges are made worse with the inclusion of bank charges. Additionally, the website is restrictive for Latin Americans. Hence you cannot trade from anywhere in the world. And the fact that Cryptomkt doesn’t provide margin trading makes it even more unfavorable.
CRYPTOMKT accepts transactions in various local currencies in the Latin American market. The site claims to be one of a kind in the Ethereum exchange market with top security features for all its users. Nevertheless, the website is made less desirable by the high trading fees even with high-volume discounts. And like other crypto markets, the site remains unregulated. Thus, you have to trade with caution.