What is Tokocrypto?
Established in June 2017, Tokocrypto is an Indonesian centralized cryptocurrency exchange.
Sundanese, Javanese, English, and Indonesian are the four languages that are supported on the platform. It provides trading in a dozen of the largest coins by market capitalization. Therefore, if you’re interested in one of the bigger coins out there, this is probably the best place for you. However, if you’re looking for a smaller and more exotic altcoin, you’ll most likely need to find it elsewhere.
Regulated in Indonesia
The platform said that it obtained the status of “officially registered Crypto Exchange with the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – BAPPEBTI) as Registration Number 001/BAPPEBTI/CP-AK/11/2019” on November 26, 2019, being the first crypto exchange, which received this regulatory status in Indonesia.
Advantages of Tokocrypto
- High-security level: customer assets are stored in cold wallets and the mobile application is protected with two-factor authentication;
- The ability to integrate different trading strategies, including active and passive.
- Easy registration and quick verification process
- Competitive fee structure for the exchange of cryptocurrencies and withdrawal of funds;
- Intuitive interface and excellent functionality
- 7 customer support via both online chat and through popular instant messengers
- Diversity of an affiliate program, regular discounts, bonuses, and contests among existing customers.
Disadvantages of Tokocrypto:
- No possibility to trade with leverage
- Available for only the Indonesian rupiah (IDR)
- Required a trading turnover of BTC 50 to decrease exchange fees
US-investors
As we understand, US investors are permitted to trade on this exchange. In any case, US investors who are interested in trading here have to form their own opinions about any issues arising from their citizenship or residency.
Mobile Support
Tokocrypto platform is also available in a mobile application, which will satisfy you if you are among those who prefer to trade cryptocurrencies on your phone rather than a desktop. You can download it via Google Play.
Tokocrypto Trading View
Different exchanges also have different trading views. There is also no “this overview is the best” point of view. It is necessary for you to decide which is the most appropriate for you. Typical features of these views include the order book or at least part of the order book, a price chart of the selected cryptocurrency and order history. They also support the purchase and sell boxes.
Try to look at the trading view before selecting an exchange to make sure it is suitable for you.
Tokocrypto Fees Structure
Tokocrypto Trading fees
Trading fees are an important part of trading. Although it looks like the charge levels may appear very small at first, they can add up to large sums over time.
Both makers and takers on this trading platform are subject to the same fees of 0.10%. We refer to this pricing structure as a “flat fee model”. Compared to the industry average, the fee structure of this exchange is quite competitive.
Tokocrypto Withdrawal fees
The exchange will charge you 0.0005 BTC when you withdraw BTC as a withdrawal fee. It is less than the global industry average. Our research indicates that the industry average is around 0.0006 BTC for each BTC withdrawal.
Overall, this exchange’s trading and withdrawal fees are comparable to or even less than the industry’s global averages.
Deposit Methods
You can deposit with a wire transfer here, however, a credit card is not accepted as a method. You could use the Exchange Finder to identify cryptocurrency exchanges that allow credit card deposits if you need to use one for any reason. This exchange may be classified as an “entry-level exchange” as it accepts wire transfers.
Entry-level exchanges are places where anybody may join the cryptocurrency market even if they have never held any cryptocurrency previously.
Tokocrypto Security
The exchange is now improving its security techniques as security is obviously its top priority, according to information provided to Cryptowisser.com.
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