CrossTower is this a scam? Review and Customers Reviews

CrossTower – it’s a young crypto exchange, created for professional traders, financial institutions and enthusiasts who value security, flexibility and simplicity. The company was founded in 2019 and provides services and products tailored to the needs of retail traders and organizations, including hedge funds, family offices, pension funds, etc. In this review, we will look at what exactly the crosstower.com platform offers and whether this project is a scam.

 

Why CrossTower?

CrossTower leverages its extensive expertise in trading, technology, operational infrastructure, innovative pricing and regulatory requirements to make digital assets accessible to private and experienced institutional market participants. Benefits of CrossTower:

• 17+ digital assets – BTC, ETH, COMP, DOGE, LTC et al;
• different trading pairs – BTC/USD, ETH/BTC, LTC/BTC, USDC/USD, BTC/USDC, ETH/USDC, ZEC/USD, LTC/USDC, BCH/USDC, BCH/BTC, etc.;
• commerce cryptocurrency no fee;
• High liquidity with tight spreads;
• secure information storage, compliance, cybersecurity, AML/KYC;
• risk hedging;
• 24-hour support service;
• An advanced platform with a robust API and customizable user interface.

 

How to exchange cryptocurrency on the platform crosstower.com?

You can exchange fiat to bitcoins or other digital currency on the main page of the platform crosstower.com. In the form you need to specify what currency you want to get and how many dollars you are willing to spend. The system will put the number of coins automatically. All you have to do is click on the “Buy” button and make the payment.

Below the form there is a list of cryptocurrencies, with price dynamics and a “Buy” button next to each currency. You can proceed to exchange here as well.

 

Verification on the CrossTower platform

To verify in the “Setting” section, go to the “Verification” subsection and select a country.

Then in the form you need to specify the personal data (name, surname, date of birth, nationality) and address of residence. You must also provide a photo of your passport or driver’s license. Then upload a selfie taken with a smartphone holding an ID card. In addition, you must provide a phone number and confirm it with an SMS code.

You can increase the security of your account by using 2FA two-factor authentication. To do this, go to “Security” and select either Google Authenticator or Yubikey. Setting up 2FA is easy. Simply write down your backup code and check the “I wrote down the backup code” box.

 

Deposit and withdrawal

CrossTower does not charge for deposits. You can deposit your account in fiat currency through Banxa. This can be a bank transfer, VISA/MasterCard or Apple Pay. To make a deposit in digital assets, you need to go to Account and select the deposit icon next to the digital asset you want to deposit.

Your deposit address and QR code will be displayed. Deposit by sending digital assets to your deposit address. You can copy and paste your deposit address or scan the QR code if it is supported by the app. You can click “Copy” to copy your deposit address to the clipboard, or click “Create” to create a new deposit address.

The list also has a “Withdraw” button next to each asset. To withdraw funds, enter the amount, withdrawal address and 2FA code, then click “Withdraw”. You will receive a confirmation email, click the link in the email to confirm your withdrawal. Note that the link expires after 1 hour. The withdrawal limit depends on the level of verification:

• Unverified – $0;
• Verified – $50 000;
• Pro – $500,000;
• Institution – individually.

CrossTower Crypto Exchange Commission

The amount of commission depends on the monthly turnover:

• up to 30 BTC – 0.05% for the maker and 0% for the taker;
• from 30 to 100 BTC – 0.03% for the maker and 0% for the taker;
• over 100 BTC – 0.01% for the maker and 0% for the taker.

For Institutional talkers the commission is 0.06%. For currency pairs BTC/USD_TR and BTC/USDC_TR the commission is 0.05% for a maker and -0.01% for a taker.

The withdrawal fee is as follows:

• BTC – 0.0004 BTC;
• ETH – 0.0115 ETH;
• LTC – 0.002 LTC;
• MATIC – 109.29 MATIC;
• USDT – 100.01 USDT;
• XRP – 1 XRP, etc.

 

CrossTower bonuses

At the moment about bonuses on the platform crosstower.com nothing is said. It is enough that the commissions are minimal or even zero. However, the company offers a referral program.

Affiliate Program

You can create your first referral link in the “Referral” section of your personal cabinet. Invite friends via a link, referral code or share on social networks. Get rewarded for each user who signs up to your referrals and trades. You can get up to 25% commissions on payments from your invited friends.

 

Complaints about CrossTower

CrossTower has not been known for scandals. Users’ reviews of the platform are crosstower.com positively. They like the set of trading and graphical tools, albeit small, but adequate selection of digital assets. They note the clear and convenient interface, fast exchange of fiat currency to digital assets. Of the disadvantages are called a long verification process, on the level of passing which depends on the amount of withdrawal. It is also bad that there is no Russian version of the site, it is presented only in English.

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Regulation of the crypto exchange crosstower.com

Among crypto exchanges there are both honest companies and scammers. To understand the integrity of a crypto exchange, it is necessary to study its regulation and check whether it has a license. That’s what we’re going to do next.

Regulator

CrossTower has offices in the United States, Bermuda and India. CrossTower Bermuda Ltd. (DBA “CrossTower Global”) is registered as a digital asset business with a Class F license issued by the Bermuda Monetary Authority. Although CrossTower Global supports clients from various countries, it does not support clients from the United States. CrossTower Inc. (NMLS License No. 1979754) is a digital asset trading platform registered with FinCEN as a U.S. money services company that supports U.S. customers in certain states and may also support customers outside the United States.

The company’s office is located at 15 Exchange Place, Jersey City, NJ 07302, United States. CrossTower is subject to the Bank Secrecy Act (BSA) and the USA PATRIOT Act, which requires the company to establish anti-money laundering (AML) programs, designate an AML compliance officer, train employees on AML requirements and establish an independent periodic review of the program.

• Read the “User Agreement” on the CrossTower website.
• Read the “Privacy Policy” on the CrossTower website.

CrossTower User Agreement

The “agreement” states that in order to place an order, the trader must have an available balance in the account that can cover the total cost of the transaction.

The commission is charged from the quoted asset after the transaction, calculated as a percentage of the total size of the order. Commissions may be different for different trading pairs.

The document spells out the following condition: if technical reasons prevent traders from being able to cancel or place orders, CrossTower may cancel all open trades and apply other measures.

The document also spells out that the exchange may temporarily suspend trading to maintain or update the system.

Customer Service

The support team can be contacted as follows:

• the feedback form on the site;
• email: [email protected];
• FAQ;
• Twitter.

 

Is CrossTower a scam?

CrossTower is not a scam or a fraud. It is a young cryptocurrency exchange, with offices in India, USA and Bermuda. There are offers for individuals and organizations. The company complies with the applicable laws and regulations of the jurisdictions in which it operates. Does not hide contacts, has an office at 15 Exchange Place, Jersey City, NJ 07302, United States. Offers several ways to contact customer service. CrossTower provides few digital currencies to choose from, but it’s enough to successfully trade on crosstower.com. Commissions are minimal, for takers they are 0% at all.

The company offers interesting terms of cooperation, advanced platform with reliable API and customizable user interface, high liquidity with narrow spreads. CrossTower has been working on the cryptocurrency market for 2 years, during this time it has not been noticed in any scandals. Nothing bad can be said about its activity. On this platform you can quickly exchange fiat to cryptocurrencies, you can trade cryptocurrencies profitably here. In order to successfully exchange digital currencies, you need to be verified. The more data about yourself you provide, the larger amounts can be withdrawn from the platform to cryptocurrency wallet.

 

Conclusion

CrossTower – is a young cryptocurrency exchange, which is suitable for professional traders, financial institutions and security enthusiasts. Even a beginner will understand how to work on the crosstower.com platform, everything is simple and clear here. The site has a FAQ section with instructions on depositing and withdrawing funds, registration, etc. After reading this information you can easily understand the services of the service and how to exchange cryptocurrencies. If you have any questions, you can contact our support team, which is available 24/7 especially for you.