| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Head Office | Roosikrantsi tn 2, Kesklinna Linnaosa, Tallinn, Harju Maakond, 10119 |
| Types of support | |
| Languages | English, Chinese |
| Company owner | Cypher OÜ |
| Age restrictions | From 18 years |
| Trading volume per day | 19144059 USD |
| Number of cryptocurrencies | 10 |
| Number of trading instruments | 10 |
| Margin trading | Yes |
| Types of accounts | Standard |
| Order execution | Market Execution (at market price), Limit Orders |
| Methods of replenishment | Sepa, Wire transfer |
| Withdrawal methods | Sepa, Wire transfer |
| Account Currencies | EUR, USD, Cryptocurrency |
| Types of cryptocurrencies | Bitcoin, Ethereum, Ripple, AgentMile, Izetex, Bitcoin Cash, Stellar, Litecoin, Tether, Zcash |
| Licenses | Licensed |
| Mobile apps | |
| Trader training | User manual |
| A way to store cryptocurrencies | Cold: yes Hot: no |
| Fiat accounts | Yes |
| Possibility to exchange for fiat currencies | Yes |
| Terminal capabilities | Working with indicators, graphical tools |
| Futures trading | Derivatives trading in a special account |
| Basic verification | Yes |
| Advanced AML verification | Mandatory |
| API | https://docs.cryptology.com/#introduction |
| Bonuses | Until 30 % affiliate bonus |
| Affiliate Program | RegistrationUp to 30% of the amount of commission from each referral's transactions |
| Advantages | Advantageous terms of cooperation Popular types of cryptocurrencies Margin Trading There is a Fiat Availability of a mobile app Referral program Intuitive interface Fast order execution Security Loyal commissions |
| Disadvantages | Lack of a Russian version of the interface |
| Company requisites | Legal name: Cypher OÜ Legal address: Roosikrantsi tn 2, Kesklinna Linnaosa, Tallinn, Harju Maakond, 10119 |
| Overall assessment | 8.6/10 |
| Date of update | March 11, 2024 |
Cryptology is this a scam? Review and Customers Reviews
Contents
Cryptology – is an exchange for cryptocurrency trading which began its operation in 2018. During this period, the project has been actively developing and gradually gaining popularity among users from around the world.
In our review, we will take a closer look at the features implemented by the company and find out if Cryptology is a scam or a reliable cryptocurrency exchange.
Why Cryptology?
Cryptology is a platform for trading digital assets that appeared on the Internet less than two years ago. Although the service targets users from different corners of the world, only the English and Chinese interface of the official website is presented cryptology.com. The main office of the organization is located in Estonia, from where the project is regulated.
The company is trying to provide users with favorable and comfortable conditions for trading activities. All clients get access to trading with 29 trading pairs. The most popular pairs are ETH/BTC, BTC/USD, BTC/EUR, ETH/USD, BCH/BTC, ETH/EUR, BTC/USDT, LTC/USD, ZEC/USD and BCH/EUR. Traders are also available for margin trading with up to 10x leverage.
For users to be aware of the latest developments on the exchange, a blog was created, where you can find information not only about the project, but also informative articles on financial topics. Also with the help of the blog the client can learn about new cryptocurrencieswhich appeared in the stock exchange listing. All information is presented in English.
The trading platform is slightly different from its competitors:
- On the side there is a form of order to buy/sell cryptocurrencies;
- In the middle you can see the author’s chart, which allows you to analyze the selected trading pair;
- at the bottom is the order history;
- On the left side the client can see the order book, as well as the history of other traders, which will make it possible to choose a trading pair.
It is extremely important for most traders to have constant access to their trading account. In order to allow clients to access trading at any time, a mobile application was created. Thus, you can use your smartphone to open your profile and trade 24/7. Both Android and iOS versions are available. Some of the main advantages of the trading platform include:
- popular types of cryptocurrencies;
- margin trading;
- there is a fiat;
- mobile application;
- referral program;
- intuitive interface;
- fast execution of orders;
- security;
- Loyal Commissions.
How to exchange cryptocurrency on cryptology.com?
To start exchanging digital assets, you need to go to the “Exchange” tab and perform a few simple steps:
- choose a trading pair for trading;
- fill in the order field, specifying the amount of cryptocurrency to be exchanged;
- Depending on the target, click on the “Buy” or “Sell” button.
Verification on the Cryptology platform
Verification is a mandatory process on the exchange and consists of several stages. After passing the basic verification, the user increases the withdrawal limit to $10,000 per day, and after passing the full verification there is no limit at all. First, the trader needs to confirm the email address. To do this, they need to follow the link that was sent in the email. The next stage is the basic verification. To confirm the identity, the following data should be provided:
- choose an identity document (passport, driver’s license or ID-card);
- specify the document number;
- Upload a photo of the first page of your passport, as well as a selfie with the spread of your passport;
- NAME;
- date of birth;
- country of residence.
The final step is to confirm the residential address. To do this, you can upload a scan of a utility bill or other document with the trader’s residential address on it. That’s the end of identity verification process. In general, data verification takes from several hours to several days.
Deposit and withdrawal
In order to replenish your trading account, you need to go to the tab “Balances”. Then you need to perform a few simple steps:
- select the cryptocurrency to deposit and click “Deposit”;
- copy the system-generated address and paste it where the transfer will come from.
To deposit and withdraw fiat, the company provides for the use of bank cards, namely Mastercard and VISA. Also, you can deposit and withdraw funds via SEPA. The minimum amount for withdrawal via SEPA is 1,000 euros.
Withdrawal of earnings
To withdraw funds from the exchange, you must also go to the tab “Balances” on the site cryptology.com and select the necessary cryptocurrency. Next, you need to insert the address of the wallet, to which the transfer will be made, and fill in the order field, specifying the amount to be withdrawn.
Cryptoexchange Commission
There is a single commission of 0.002% per trade for both makers and takers on the exchange. When a higher trading volume is reached, the commissions are reduced:
- <50,000: maker – 0.002%, taker – 0.002%;
- <100,000: maker – 0.0016%, taker – 0.0018%;
- <250,000: maker – 0.0012%, taker – 0.0017%;
- <500,000: maker – 0.001%, taker – 0.0016%;
- <1,000,000: maker – 0.0008%, taker – 0.0015%;
- <2,500,000: maker – 0.0006%, taker – 0.0014%;
- <5,000,000: maker – 0.0004%, taker – 0.0012%;
- <10,000,000: maker – 0.0002%, taker – 0.001%;
- >10,000,000: maker – 0%, taker – 0.001%.
Withdrawal fee
If the exchange does not charge for deposit, the withdrawal fee is 0.0005 VTB. The only exception is depositing with a bank card. In this case the commission is 3.5%.
Cryptology bonuses
Periodically, the exchange carries out various promotions and accrues bonuses to its customers, but at the moment there are no active bonuses.
Referral program
For active traders who want to earn extra income, an affiliate program was developed. Thus, users can attract new participants to the project and receive remuneration for this. In total a client receives up to 30% of the commission for one attracted referral. New participants can be attracted using a unique referral link.
Complaints about Cryptolodgy
Although the company appeared on the market 2 years ago, on the Internet you can find few reviews from other users. In general, the exchange has a positive reputation among clients, but there are also negative comments. From the positive aspects traders note the simple and straightforward interface of the site, loyal commissions, the availability of fiat currency and the quick work of technical support. The lack of a Russian-language version of the site is one of the drawbacks. cryptology.comas well as a lengthy verification process.
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Crypto exchange regulation
With the growing popularity of cryptocurrency exchanges, more and more unscrupulous projects are appearing on the Internet. To protect yourself from scammers, the user should carefully check the availability of relevant documentation, as well as the license. Let’s take a closer look at how Cryptology Cryptocurrency Exchange is regulated.
Cryptology regulator
Cryptology exchange is known to be operated by Cypher OÜ, which is a private limited liability company registered in the Republic of Estonia with company registration number 14626039 and authorized to provide digital assets for exchange and transfer paper assets by Financial Intelligence Unit number FVR000662. The location of the head office, as well as the necessary documentation, is publicly available for each user.
Cryptology.com User Agreement
The “User Agreement” is the main document of the project, which every trader should read before starting to register at the exchange. The agreement contains the rules of trading activities, as well as the obligations of clients and organizers. Like the site interface, the document is presented only in English, which may create difficulties for customers from CIS countries. Let’s consider some points in more detail.
The agreement makes clear that the value of virtual currency is highly volatile, its value may increase or decrease at any time and there may be a substantial risk of losing money when buying, selling, holding or investing in virtual currency. It is also worth considering the fact that virtual currency is not regulated by the Estonian Financial Supervision and Regulation Authority and any protection related to financial services does not apply to the purchase or sale of virtual currency. The customer should carefully consider whether virtual currency trading is suitable for them in light of their financial situation and circumstances.
It is also stated that the company does not own or control the underlying software protocols that control the operation of the virtual currency, as a rule, the underlying software protocols are “open” and anyone can use, copy, modify and distribute them. The Organizer assumes no responsibility for the operation of the underlying software protocols and cannot guarantee their functionality, security or availability. The user acknowledges and accepts the risk that the underlying software protocols relating to any virtual currency that the customer stores in their virtual currency wallet may change.
The Customer agrees to the fact that Cryptology may, at its sole discretion and without prior notice, terminate access to its services or block future access to the User’s account if it is determined that the User has violated these terms and conditions or other agreements that may be associated with the Customer’s use of the services. The user also agrees that any violation of these terms and conditions would constitute an unlawful and unfair business practice and would cause irreparable harm for which monetary damages would be inadequate and the client consents to any injunctive or equitable relief that the company deems necessary or appropriate in such circumstances. These remedies are in addition to any other remedies the entity may have at law or in equity.
The trader also agrees that the organizer may, at its sole discretion and without prior notice, terminate the user’s access to the content or services for reasons including, but not limited to, requests by law enforcement or other government agencies, requests by the client, termination or material change of services or unexpected technical problems.
The company cannot guarantee timeliness, as there are external factors that may affect the continuous provision of services. Nevertheless, Cryptology makes every effort to offer a platform that operates 24/7.
Any misrepresentation or fraudulent use of a Cryptology account is considered a serious breach of the terms and conditions. In the event that the company becomes aware or it is demonstrated through trading activity that the purpose of the user account is fraudulent, the organizer will immediately suspend and block the customer’s account. The organizer reserves the right to take necessary legal action against any parties to protect its rights, users and resources.
The customer is solely responsible for all activities related to the use of the services through his own account or password and the security of computer systems, and in no event shall the company be liable for any losses or damages related to such activities. The user must not create different accounts for their own use, any malicious, fraudulent, unfair or otherwise harmful use of the platform may result in automatic suspension or termination of the services.
The Client understands and agrees to the fact that the services are provided on an “as is” basis. The Company assumes no responsibility for events beyond its control, such as transactions processed through the blockchain for a particular digital asset. The user acknowledges and accepts that any transaction made through the blockchain is irreversible, which means that the customer is solely responsible for entering the correct wallet information to transfer digital assets to and from the services.
The user also accepts full responsibility for their use of the services, their actions, orders, transactions, the documentation provided and general behavior. Cryptology’s only remedy for a trader’s dissatisfaction with the services is to stop using the site. This restriction of relief is part of the bargain between the user and the organization.
Customer Service
You can contact the support service by one of the presented options:
- online chat;
- email: [email protected].
Before contacting support directly, the user can go to the “FAQ” section, which contains answers to the most popular questions.
Is Cryptology a scam?
Cryptology – is a cryptocurrency exchange that started operating in 2018. During this period, the company has been gaining popularity and is currently among the top 100 cryptocurrency exchanges. The platform cooperates with clients all over the world, but the interface of the main site is translated into only two languages – English and Chinese. The lack of a Russian-language version of the site may create difficulties for traders from CIS countries. The project is headquartered in Estonia, where the organization is regulated.
The exchange provides its clients with favorable conditions for cooperation. Thus, each user has the opportunity to carry out trading activities with 29 trading pairs. The main trading turnover accounts for ETH/BTC, BTC/USD, BTC/EUR, ETH/USD, BCH/BTC, ETH/EUR, BTC/USDT, LTC/USD, ZEC/USD, as well as BCH/EUR. In addition to the standard trading, traders are also available for margin trading with up to 10x leverage.
Periodically, various promotions appear on the exchange and users are awarded bonuses. An affiliate program has also been developed, which allows customers to earn extra income. As part of the program, traders can attract new members to the project and receive compensation for this in the form of commissions. A mobile app was developed for users to get access to the project’s functionality at any time. Thus, clients can log into their own account using a smartphone 24/7. Both iOS and Android versions are available.
Although the company appeared on the financial market two years ago, you can find quite few reviews on the Internet, especially from clients from the CIS countries. Nevertheless, the exchange has a positive reputation, although there is a negative opinion of some traders. After a detailed study of the opportunities that the project provides to its participants, is it possible to say that Cryptology is a scam and fraud? No, because the service is functioning successfully and provides its services to clients all over the world.
Conclusion
Cryptology – is a relatively young cryptocurrency exchange that appeared on the financial market less than two years ago. During this period, the company has actively developed and managed to gain the trust of customers around the world. The organization focuses specifically on the international market. At the moment, the interface of the project is translated into two languages – Russian and English. The service tries to provide traders with favorable conditions for cooperation. However, novice traders often underestimate the risks associated with trading activities and lose their initial investment. To avoid such situations, one should carefully study the documentation provided on the website.
Now the exchange looks good among the competitors, but there is still work to do. If you have cooperated with the project, leave your impressions about working with the service on our website to form an independent rating of exchanges for trading digital assets.
Reviews
- In ascending order of rating
- In descending order of rating
- New ones first
- First the old ones
- Popular ones first
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Feedback approved for publication Rate your review 000I won’t recommend them!
They promised me that they would return my money, it’s a long time, and I kept waiting for my money, they didn’t give me anything, then I reported the case to Recoveringcoin . Com, and gave them the necessary information and got my money back
Positive- Don’t use!!!
Minuses- Bad bad experience
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Credible feedback Rate your review 000
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Rate your review 000Scam
I deposited 200K from my personal card, bought crypto, but I can not withdraw it, attempts to resolve the issue with support have led to nothing!
Positive- NO
Minuses- Take away your funds
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Rate your review 000Thanks for the article and your feedback...
Thanks for the article and your feedback guys. I have a lot of controversial reviews about Cryptology, but I want to try this exchange for trading, it seems that now there are no commissions even for futures for beginners)
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Rate your review 000Both the exchange and the exchanger work...
Both the exchange and the exchanger work without any questions. Always liquid pairs on the exchange, and the exchanger often favorable rates. Even have manual support 24/7
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Rate your review 000The exchange comes without delays, often favorable...
The exchange comes without delays, often favorable rates. Technical support works quickly
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Rate your review 000This exchange is normal. Commissions are acceptable
This exchange is normal. Commissions are acceptable, a lot of pairs. So far I use the exchanger, you can often get a good rate
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Rate your review 000Good exchanger, low commissions, favorable rates The...
Good exchanger, low commissions, favorable rates
The Exchange – a clear interface, handy tools
Quick technical support – the connection 24/7. I put a solid five to the creators. -
Rate your review 000I'm happy with the exchanger - it...
I’m happy with the exchanger – it works like a Swiss watch. Everything changes quickly and without delay, a large selection of pairs on the exchange itself
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Rate your review 000Everything works clearly without delay, no problems
Everything works clearly without delay, no problems. I did not use the mobile application. The trading pairs are excellent, liquid. I got all deposits within 5-10 minutes, relatively fast in my opinion. I have made withdrawals 3 times and they also had no problems. In short, I am satisfied.
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Rate your review 000The exchanger suits me fine. There are...
The exchanger suits me fine. There are enough trading pairs, everyone will find a trading pair to his liking. KYC went through without any problems, they were accepted within a couple of minutes. If something is not clear – you can write to the Russian support and they will explain everything. All the… Read more
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Rate your review 000Not a bad exchange, registration and KYC...
Not a bad exchange, registration and KYC do not take much time, all uprooted quickly. A lot of pairs, you can find a suitable for yourself. I used both exchanger and exchanger, all withdraw quickly. Ru chat is, if any questions, you can easily contact the admins
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Rate your review 000
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Rate your review 00The exchange offers 29 trading pairs, favorable...
The exchange offers 29 trading pairs, favorable trading conditions, affiliate program, fiat and margin trading. But in the Russian-speaking segment of the Internet there are still almost no reviews about this platform. It is only known that some traders encountered difficulties in verifying the account… Read more
Cryptology reviews
- New2
- Resolved0
- Not resolved2
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