What is Tradesatoshi?
Tradesatoshi is a crypto-to-crypto exchange that supports a staggering number of digital currencies. The trading platform was launched in 2015 and it is headquartered in London, UK. One of its founders, Francesco Alibrandi, is a well-known Bitcoin entrepreneur of Australian origin.
Tradesatoshi’s interface supports the basic trading functions in addition to 2-factor authentication to ensure account protection. Users are also able to claim free coins through the “Faucet” feature which is available on their platform.
Tradesatoshi offers support to a wide list of cryptos, counting over 200 coins and tokens, including:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Verge (XVG)
- Zclassic (ZCL)
- Dash (DASH)
- Monero (XMR)
- Reddcoin (RDD)
- Zcash (ZEC)
- Zcoin (XZC)
- Komodo (KMD)
- Bitcoin Gold (BTG)
- Bytom (BTM)
- Stratis (STRAT)
- Hcash (HSR)
Tradesatoshi’s trading services are available to users from all geographical regions. But just to be sure, you can directly ask the exchange so that you will know that the service is available in your country of residence.
Accepted payment methods
Tradesatoshi does not accept deposits with fiat currencies of any kind, which means that traders are only able to fund their account with cryptocurrencies. This can be rather inconvenient, as you first have to exchange your fiat currency into cryptos in order to be able to make a deposit.
No fees are incurred when depositing funds into your account, but there are some trading and withdrawal fees which you must take into consideration.
- A 0.2% fee is charged on the transaction when the users place a buy or sell order.
- The withdrawal fees vary depending on the transferred coin.
Users have a daily withdrawal limit which depends on the account’s level of verification:
- 2000 USD for level 1 verified members
- 5,000 USD for level 2 verified members.
There are apparently no limits when it comes to making deposits, though. This means that you can fund your account with as many coins as you want.
After registration, your newly-created account has to go through a verification process before it can be activated. In order to be verified, the user must provide a valid email address, his or her full name, and the date of birth. After the provided information has been verified, the user will receive an email with a confirmation link. After you have clicked on the link, you can then log-in to your account and begin trading.
Tradesatoshi also supports 2-factor authentication to ensure that user’s accounts are protected. The platform also employs other security features such as cold storage of user funds, DDoS mitigation for its servers and live backups to ensure quick fund recovery in case of an emergency.
How to use Tradesatoshi?
After you have registered and activated your account, you will be asked to enable the 2FA security feature. While this feature is not compulsory, it is highly recommended that you do so. After the 2FA feature has been activated, you will be able to make deposits to your exchange wallet.
To deposit funds to your account, search for the coin you want from the available list and then select it by clicking on it. Then hit the “Create Address” button to create a new address in which the deposit will be made. After the address has been generated, click on “Deposit.” Copy the address or scan the QR code above it which will appear on your screen.
To withdrawal your funds, you have to click on your wallet, and then hit the “Withdraw” button. Put in the sum you want to withdraw and the address that the funds will be sent to. An email confirming the transaction has been finalized will be sent to you afterward.
Users that have questions or issues related to their accounts or transactions can contact the support team by submitting an online request. The support team of Tradesatoshi can also be contacted via media channels including Discord, Slack, Facebook, and Twitter.
Tradesatoshi states that they offer support 24/7, but there have been several complaints made by users regarding slow response times from their customer service staff. There were also some complaints regarding long delays on deposits and withdrawals.
Pros and cons
- Offers support to a long list of cryptocurrency
- Features 2-factor authentication
- User-friendly interface
- Unreliable customer support
- Low trading volume
- No leverage trading supported
- Does not accept fiat deposits
Tradesatoshi is a legit trading platform which features a wide range of cryptos. Its interface features rather basic trading tools, which might not be too appealing for professional traders. And even though there have been a few complaints about delays, there have been no security issues so far or any signs that it is a scam.