SatoExchange is this a scam? Review and Customers Reviews

SatoExchange – cryptocurrency exchange, which offers a trading terminal to exchange over 175 coins, its own token to work with the company, ICO and participation in the referral program. Exchange started its work in 2018. During this time, the platform has been replenished with many cryptocurrencies.

In order to find out if there are any scammers working for the company, we suggest you read this review. This will allow you to find out if trading at SatoExchange is reliable or not.

Why SatoExchange?

The platform offers cryptocurrency exchange BTC, ETH, USDT, SATX, DOGE and other cryptocurrencies. satoexchange.com gives traders the opportunity to fully participate in active crypto trading. All trades are peer-to-peer, which means you are not trading directly with SatoExchange. Prices are completely order book oriented.

The order processing mechanism ensures high transaction speeds. The system uses a new production infrastructure to ensure fast order processing – up to 1,200,000 per second. The team pays a lot of attention to the security of customer data and assets. Accounts are protected by a password, an additional layer with a PIN code and 2FA.

The trading interface is suitable for all devices. This means that traders can trade from any device, platform, OS, anywhere, anytime, any day. The interface is simple and easy to use. The trading platform is always available. Transactions are processed 24/7.

One of the features of the platform is the ability for users to transfer balances to each other without withdrawal or deposit. The exchange also offers coin listings by winning monthly voting contests. The exchange has its own token. SATX is used to pay withdrawal fees for most tokens, buy voting points, ICO / IEO listings on SatoExchange. The token is also needed to pay for coin listings. SatoExchange has also recently started providing services ICO. This means that blockchain organizations do not need to worry about ICO sales infrastructure, the service will help them conduct and sell ICOs on the SatoExchange platform. Some of the packages include a marketplace listing. Three pricing packages are available. Each differs in features. The standard one is free:

• Payment of 100,000 SATX (non-refundable payment).
• No BTC payment.
• A listing after an ICO is not guaranteed until the regular fee is paid.
• Charging 15% from sales as a commission of the exchange.
• The funds become available only after the ICO is distributed.

In the Business Package, the conditions are as follows:

• 0.075 BTC for ERC20 assets and 0.1 BTC for others.
• Payment of 100,000 SATX (non-refundable payment).
• Listing after the ICO is guaranteed, markets open after the launch.
• Charging 10% from sales as a commission.
• Funds are available immediately during the ICO if tokens were transferred to SatoExchange prior to mining for the ICO.
• Distribution is automatic.

The premium package offers additional benefits:

• 0.2 BTC for ERC20 assets and 0.22 BTC for the rest.
• Payment of 100,000 SATX (non-refundable payment).
• Listing after the ICO is guaranteed.
• 5% Fee Charging.
• Distribution is automatic.
• Funds are available immediately during the ICO if tokens were transferred to SatoExchange prior to mining for the ICO.
• Promo from the exchange team: there will be a link to the ICO on all market pages. There will also be regular information about the progress of the ICO and the status of the launch on Twitter.

Pre-mining token for ICO must be sent to the address, which the exchange will provide for payment after sending the application with details about the coin. The holding period for the ICO is 5 days. Within 5 days after the completion of the ICO, SatoExchange will unlock the account where the proceeds are stored so that the company can make a profit.

The management portal provides a customizable, multi-stage ICO with different prices, restrictions and bonuses without extra fees. After sending the application, the administrator approves it within 48 hours and sends a verification code by e-mail. It must be entered in a special field, choose a package and pay.

Website satoexchange.com – informative, with a simple interface and details about the company. There is information about the exchange, conditions of using its functionality, commissions, affiliate program. Anyone can read a detailed description of the cryptocurrencies that can be exchanged at the exchange site, and their own SATX token. The advantages of the exchange include:

• high transaction rate;
• ease of use of the platform on mobile devices;
• A high level of security for user information;
• profitable affiliate program;
• ICO services.

How to exchange cryptocurrency on the SatoExchange platform?

To start an exchange on the exchange site, you must log in and go to the “Market” section. There are several boxes available on the page:

• Trending the most popular cryptocurrencies with price, sales changes and volumes.
• Recent announcements with currency name, listing date and market.
• Hot markets are the most interesting offers.
• All markets – there is a field to search.

When you see an offer of interest, you can go to a page with detailed information and create a position to buy or sell. At the bottom of each page with information about the cryptocurrency, there are detailed data about it and links to the official website and projects that analyze the work of the services.

Verification on the platform satoexchange.com

The exchange has also recently started supporting a new type of account: project owner. This type allows the company to know who is responsible for the coin/token listed on the exchange. Additional features will be available for such an account.

Now this type of account is needed to create a pool of bets or investments on SatoExchange. To apply to create and own a project owner account on SatoExchange, send an email to the listing team at [email protected] with the following information:

• name;
• project title;
• coin/token and its symbol;
• project site;
• your position on the team;
• the email address of the SatoExchange account;
• the user name on the SatoExchange.

Once this email has been sent, wait for a support response to learn about the next steps or activation. Once your account type has been changed, you will receive a notification email.

Deposit and withdrawal

In my personal cabinet there is a section where you can deposit and withdraw funds. But there are no details about the methods and limits. Before depositing money, it is worth consulting the administration of the project.

SatoExchange crypto exchange commission

All SatoExchange transaction fees are 0.2% of the price of the underlying market pair. Withdrawal fees depend on the selected Cryptocurrencies. The list with all the amounts is in the appropriate section on the exchanger’s website.

SatoExchange bonuses

The exchange offers participation in the referral program. The service does not offer other bonuses and promotions.

Referral program

Affiliate Program satoexchange.com is designed to generate more income for users by inviting referrals. They receive a percentage of the commissions paid by referrals on all trades placed on the platform.

You can get 20-25% commissions paid by each of your referred users on all trades. The basic affiliate rate starts at 20%. The percentage depends on the partner’s status:

• Affiliates are members who have less than 100 active referrals in the system. They receive 20% commissions from each client.
• Partners are users who have 100 or more active referrals. They receive 25%.

Only those who have at least 1 deposit on their accounts to confirm their account are considered active referrals. All interest will be paid in any of the base coins. For example, if the exchange was in DOGE / BTC pair, the commission will be in bitcoins. All fees will be paid into a SatoExchange wallet balance, which can be used for trading or withdrawals. Payout requests are processed every 24 hours mostly at 00:00 GMT. This means that you can receive affiliate payouts daily.

A referral code is created for each partner. It allows the referral to go to the home page of the site or to the registration section. But you can direct users to other exchange pages, including market pages, and still track them as referrals. You can add the last part of your code to any exchange URL to use the link for referrals. To attract more affiliates, the exchange has developed affiliate materials. By logging into your account, you can view the available tools to attract referrals.

Complaints against satoexchange.com

There are few reviews on the Internet about the work of the exchange. Users have different opinions about the project. There are positive comments about the fact that the site is convenient and works smoothly, technical support responds quickly, there are no problems with the withdrawal of funds. Many believe that the company will develop and will be able to offer good conditions.

But you can also encounter negative reviews. They concern the lack of Russian-speaking support and overpriced commissions. Some users are afraid to cooperate with the exchange, because they consider it small and are afraid of falling into the net of fraudsters.

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Regulation of the SatoExchange crypto exchange

There are more and more crypto exchanges. Some of them are bona fide, but there are also a lot of fraudsters. Therefore, it is necessary to study the documents and check the license.

Regulator

The site has no information about the license, company name or address. You can only read the privacy policy and terms of use.

SatoExchange User Agreement

The site of the exchange has a “Terms of Service” section, where you can read the text of the user agreement. The document contains information on age restrictions, account registration, and identity verification requirements.

There is also a paragraph about the copyright policy and the prohibition of users from modifying, applying, or removing them. Information about security is also published. The exchange guarantees the security of user information and complies with industry standard endorsements. The company asks customers to shy away from potential dangers to ensure that personal information is protected in the account. Users are solely responsible for keeping their information, passwords, PINs and 2FA codes secure.

Customer Service

The site has a “Knowledge Base” with answers to popular questions. But there is not much information in it, perhaps the team is still working on filling this section. If you could not find an answer in the exchanger database, you can create a ticket to contact technical support. To do this, in the “Support” section is a form in which you must select the theme of the request – general or security, and ask a question. You can also contact employees of the service via social networks – the exchanger has pages on Facebook and Twitter.

Is SatoExchange a scam?

SatoExchange – exchange, which since 2018 has been offering cryptocurrency trading services through its order book. Now the company also has its own token and ICO services. Many users are confident that if the exchange continues to develop like this, it will be able to take a worthy place in the list of the best crypto-exchanges.

But not everyone is ready to work with a platform that is not so long on the market. The company’s website has a user-friendly menu and terminal to work with. But there is no information about the management, address and phone number. It is only possible to contact the technical support through the creation of a ticket and social networks. There is a FAQ, but it has very little information. There is no information about how the deposit and withdrawal of funds, what the minimum and maximum amounts are available. All details will have to clarify with support, which is not very convenient.

Given the fact that there are no specific complaints about the fraudulent actions of the exchange team, we can conclude that this is not a scam scheme. But SatoExchange should take care of filling the site. It is desirable to add several channels for contacting the technical support and publish legal information about the company. This will give users confidence that the exchange works transparently and honestly.

Conclusion

SatoExchange – cryptocurrency exchange offering trading in many cryptocurrencies and launching ICOs for companies that want to use their own tokens. The exchange is gradually developing and adding new services to its list. But the website is low-informative, so users are often wary of contacting the project.

If you have traded on the SatoExchange platform, leave your feedback in the comments to the review. This will allow other readers to draw a conclusion about the reliability of the service based on real experience.