Cryptocurrency Exchange

Cryptomate Exchange Review: The best UK Digital Currency Gateway

Learn about UK-based fastest cryptocurrency exchange

Overview

Legal NameCryptomate Exchange
HeadquartersUnited Kingdom
CEOWilliam Thomas
Year Founded2014
Exchange TypePeer to Peer Exchange
Trading FeesMaker: 6.07%/ Taker: 6.07%
Deposit MethodsWireTransfer
Supported CryptosBitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Ripple (XRP), and more
FiatPounds (GBP)
Customer ServiceEmail
Trading Options Spot Trading, Margin Trading

Cryptomate is a British cryptocurrency exchange. The company is basically a peer-to-peer network, connecting buyers and sellers of cryptocurrencies

It simply brings a variety of popular cryptocurrencies to customers who spend GBP.

In this article, we will provide you with the complete guide on the Cryptomate Exchange and check out its features, fees, trading, and much more. Let us look into this Cryptomate Exchange review now,

What is Cryptomate Exchange?

Cryptomate is an easy to use platform that allows British users to purchase cryptocurrency via instant bank transfer. Cryptomate is a cryptocurrency exchange that connects buyers and sellers of cryptocurrencies within the UK. 

The service was launched to help bridge the gap between GBP and cryptocurrency exchange within the UK and to make the most popular digital currencies available to almost anyone with online banking.

The exchange is registered in the UK. It currently has over 11,000 users and has transacted over £14 million since its inception. 

Cryptomate Exchange Features

  1. Leverage: It should be noted that margin trading is now available at Cryptomate. This is an important feature which is used by the users for trading.
  2. Payment Methods: Cryptomate currently only accepts UK online bank transfers. This method of payment is chosen as it is completely secure, instant and simple to use.
  3. Maximum daily transactions: Cryptomate has set a daily limit of £100 for unverified clients. After submitting your details, this level will be increased to £1,000. These levels are set as an anti money laundering (AML) measure.
  4. Security: They do not store any payment information on their servers. You make your payments through your online banking service, not through a third party processor. All communication is secured through 256-bit SSL.
  5. Customer Support: There is no live chat. The only method to reach the exchange is sending an e-mail. There is a FAQ section on the website and you can find a lot of answers.

Cryptomate Exchange Fees and Limits

The exchange does not charge withdrawal fees because funds purchased are sent directly to an external wallet. Cryptomate offers wire transfer as the deposit method. Their users spend an estimate of 7% on transaction fees, which is above the industry average. Cryptomate is fast and offers the integration of the Pound as a direct payment currency.

Unverified accounts are limited to £200 pounds worth of crypto transactions per day, while verified users can make up to £1000 transactions per day. It should be noted that Cryptomate only accepts money transfers in pounds.

Cryptomate Exchange Supported Currencies

The currencies supported by the Cryptomate Exchange can be listed as below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • Bitcoin Cash
  • EOS
  • Stellar Lumens
  • Monero
  • Dogecoin
  • Ethereum Classic
  • Dash
  • NEM
  • OmiseGo
  • Crown
  • ARK
  • Cardano
  • VeChain
  • TRON
  • Verge
  • Electronium
  • Waves
  • ICON
  • Status
  • Lisk
  • ZCash

Cryptomate Exchange Mobile App

Cryptomate does not yet have an official mobile app available yet either on Google Play Store or Apple Store.

How to register on Cryptomate Exchange?

Step 1: Navigate to the Cryptomate official website. Click on the “Register” option

Step 2: You will be presented with a drop-down tab, where you will input your email, preferred password for the platform and name.

Step 3: Tick the ‘I am not a robot’ box.

Step 4: You will be sent a confirmation mail, log in to your email to retrieve this mail to confirm your Cryptomate account.

Step 5: Once you have confirmed your account, you will be redirected to the platform.

Step 6: Now you will have access to purchase 100 pounds worth of coin without verifying your account.

How to recover the Cryptomate password?

In cases wherein you have to recover the forgotten password. Go to the login page and then click the “Forgot Password” Option. Enter your registered email address and a link will be provided the address by which you can generate a new password.

How to deposit on Cryptomate Exchange?

Step 1: Log in to your account and Go to the Dashboard.

Step 2: You will see the available currencies. Then select the cryptocurrency you wish to deposit.

Step 3: In the corresponding row, click on the “Deposit” option. Now you will see your deposit address.

Step 4: Once you have selected bitcoin, copy the address or scan the barcode to send your funds.

How to withdraw on Cryptomate Exchange?

Step 1: Log in to your account and Go to the Dashboard.

Step 2: You will see the available currencies. Then select the cryptocurrency you wish to withdraw.

Step 3: In the corresponding row, click on the “Withdraw” option. Now you will see your withdrawal address.

Step 4: Once you have selected bitcoin, copy the address or scan the barcode to receive your funds.

How to buy cryptocurrencies on Cryptomate Exchange?

Step 1: To buy the crypto, choose from the list the desired value and go to the purchase page.

Step 2: Here we fill in a special form. Specify the address of the wallet, which will be awarded tokens, the amount and Inbox.

Step 3: Confirm that you have a Bank account in the UK and agree to the terms of service.

Step 4: Then check the filled data and, if everything is correct, enter your code to get the letter.

Step 5: Then the service redirects your Bank account, where the payment token.

Step 6: The exchange recommends that you log in to your online Bank in advance, before you click “Confirm and pay” as the transaction is given about half an hour.

How to sell cryptocurrencies on Cryptomate Exchange?

Step 1: To sell the digital money, choose from the list the desired value and go to the purchase page.

Step 2: Here we fill in a special form. Specify the address of the wallet, which will be awarded tokens, the amount and Inbox.

Step 3: Confirm that you have a Bank account in the UK and agree to the terms of service.

Step 4: Then check the filled data and, if everything is correct, enter your code to get the letter.

Step 5: Once you have sent your coins to the wallet address provided you will be asked for your bank details.

Step 6: These will be passed on to the vendor who accepted your trade and then your GBP will be sent via instant bank transfer.

Cryptomate Exchange Pros and Cons

Pros

  • No major hacks yet
  • Accepts UK bank transfers
  • Easy to use interface
  • Lots of coins available
  • Buying with GBP

Cons

  • Relatively high fees
  • Does not accept payments other than GBP
  • Only UK bank transfers accepted
  • No wallets provided by the company
  • Only available in the UK
  • It is not regulated

Conclusion

Cryptomate is a high quality peer to peer digital asset exchange. They specialize in Bitcoin, and are constantly adding high quality new coin markets, so that users can invest in the best cryptocurrencies in the market. Cryptomate is not formally regulated, because they do not store your cash or cryptocurrencies. They are merely an intermediary which connects buyers and sellers.

Cryptomate is able to specialize, creating a safe and seamless experience for the users who are able to take advantage of the platform.

Recent Updates 

  • On Aug 11, 2020, $COTI is now available to buy for £GBP
  • On Feb 25, 2020, After a period of maintenance, Cryptomate Exchange was back
  • On Jan 26, 2020, $LINK was added to Cryptomate Exchange
  • On Jan 11, 2020, BitShares $BTS are now available on Cryptomate Exchange

cryptomate - 8.4

8.4

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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