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Tokocrypto exchange review and features

Tokocrypto exchange review and features

  • 22 March 2022
  • 138 View

Tokocrypto exchange offers a wide range of services and functions. It’s trying to appeal to the mainstream retail crypto owner, so it has a little bit of everything. There is the Mandatory Proprietary Token (TKO), Trading Bot, Launchpad, NFTs, BIDR stablecoin, ETFs, educational resources, online community, etc.

Tokocrypto’s stated goal is to become the largest crypto platform in Southeast Asia. By connecting with Binance, the world’s largest crypto exchange, it has taken a big step towards this goal. Tokocrypto has more to offer than meets the eye. Below we look at the features and get a feel for the platform as a whole.

Tokocrypto exchange Services & Features

Exchange

The Tokocrypto exchange looks pretty standard with charts, trades, order books, open orders, and trading history. I prefer it in night mode, but there’s nothing radical I couldn’t dislike. You can choose between FIAT, BNB, BTC, ALTS, and ETFs and then search for your desired token. There is a wide range of assets, but almost all of them are familiar. Here, too, it is aimed at as broad a target group as possible.

Launchpad

The Launchpad helps bring new crypto projects to market through funding and development. I would love to tell you more but the TOTO LAUNCHPAD page was not available at the time of writing which is disappointing for a reputable platform.

Learn & Earn

Kotocrypto Academy, the “Kriptoversity”, encourages you to earn Tokocrypto-native token TKO while studying cryptocurrency. Reading the user comments, I could see that there were issues with people not being able to access their earned coins or even signing up for the project. Since most of the comments there is a new version of the software, so we’re waiting for the reviews.

You can download the Kryptoversity app for Android here and the Kotocrypto Bitcoin app for Android and Apple devices here.

The fee structure at Tokocrypto exchange

Aside from an exchange’s features and services, the most important factor that attracts traders is affordability. When a platform offers good services but unfairly charges fees, traders don’t like that type of platform. Tokocrypto exchange did not make this mistake because it was created to help traders not to take advantage of them.

The maker and taker fee on this platform is only 0.1%, which encourages traders to invest more. When it comes to depositing fees, Tokocrypto exchange has gone a step further as they don’t charge any deposit fees at all. Regardless of whether a trader deposits fiat currency or cryptocurrency, they would be charged absolutely nothing.

 Tokocrypto exchange graphical user interface

Almost every exchange pays the most attention to the graphical interface since most traders base their trading platform decisions on this factor. Although Tokocrypto’s primary focus is on security features, it hasn’t neglected its user interface.

Tokocrypto’s interface is very user-friendly as it is simple and easy to use. The advantage of an intuitive interface is that even beginners and newbies can use the services without any inconvenience. The interface offers well-sorted information and traders don’t feel uncomfortable at all while browsing the site.

Coins supported by Tokocrypto exchange

There is a huge list of tokens that can be traded, including various stablecoins. This is important because not all stablecoins are as stable as they claim. There is even a stable Rupiah developed in partnership with Binance, the BIDR. TKO and BIDR are an integral part of the roadmap for the Tokocrypto exchange. The hope is that in the future, TKO will evolve from an exchange token to a vehicle for financial inclusion for the 160 million Indonesians who were previously unbanked.

As you might expect, there is support for BNB (Binance’s Exchange Token) and BUSD (Binance’s Dollar-Pedged Stable Coin). According to CoinMarketCap, there are around 350 tokens and coins on the list, so include all your favorites. It looks like everything listed on Binance is available, but that’s just a theory that would take too much time to confirm.

How do I get started with Tokocrypto?

The registration process is standard with a minimum age of 17 years. You enter your email address, choose a password and click on the Terms of Service, which you can completely ignore here. There’s the usual back and forth of confirmation emails before you can sign up and get started. Next, fund your e-money wallet via bank transfer or credit/debit card. Note that your fiat money will be converted to e-money at this point and is therefore not protected from loss by regulators.

You can access all Tokocrypto exchange services with this e-money account and when it’s time for a withdrawal you can convert your e-money wallet balance back to fiat. The payout will be sent back to the account linked to your Tokocrypto account.

There is a disclaimer that checks and checks may be carried out to ensure that you are not involved in money laundering, fraud, terrorist financing, or any other financial crime. This is where the DeFi vs. CeFi dilemma comes into play. Anything you want to keep private should NOT be done on Tokocrypto – or any other centralized crypto exchange.

Does Tokocrypto require KYC?

Yes, it does – here is a KYC video in Indonesian with English subtitles. This tells us that all our trading data, personal data, and financial information is available to the authorities and that the Tokocrypto exchange did not decentralize in any way.

Customer Support at Tokocrypto

The relationship between clients and a trading platform depends on the client support services provided by the platform. Tokocrypto is an exchange that treats its customers politely and prioritizes them based on their profit. To that end, they try to keep in touch with their traders as much as possible. But unlike other exchanges, Tokocrypto exchange didn’t just rely on its phone numbers and email addresses. It has various social media handles that represent exchanges on various social media platforms like Telegram, Twitter, and Youtube.

His social media accounts also act as help centers. On these platforms, the exchange takes feedback from its customers and then improves its services to provide a better trading experience. The exchange takes every complaint seriously and makes sure they never receive the same type of complaint again.

Countries supported by Tokocrypto exchange

I couldn’t find an explicit list of countries you can access Tokocrypto exchange services from, but I read this in the fine print. You’re out of luck if you live in Iran, Sudan, North Korea, Cuba, Syria or any other country the US and UK have an ax to grind with. It’s all very US compliant and friendly.

TKO and BIDR tokenomics

Almost every platform has its exchange token these days. Tokocrypto’s goal for TKO is to support a revolution in personal finance. People holding TKO are hoping that the coin will rocket to the moon as the platform grows. Whatever the intent, Binance has already proven that an exchange coin can become one of the greatest cryptos of all time. Will TKO be the Indonesian BNB?

About TKO

TKO is the working token required to participate in Tokocrypto exchange products including their crypto exchange, NFT marketplace, and DeFi applications. Launched in April of this year, it has had little time to prove itself. Recent moves suggest that the TKO price is being blown up by the general crypto market. It currently sits at $1.42 after suffering a 20% plunge in line with all major cryptos.

Is it worth holding TKO? As I said with all exchange tokens, hold some if you think business volume will increase. The potential gains are tied to the growth of the platform. As it stands, Tokocrypto exchange appears to be uniquely positioned to do a lot of business in the short to medium term, so I would be happy to hold TKO in the medium to long term.

BIDR

Stablecoins are usually denominated in US dollars, but BIDR is based on the Indonesian rupiah (IDR). As always with stablecoins, it’s important to choose one that is both well-backed and unlikely to be targeted by financial authorities. BIDR was created in partnership with Binance and is regulated by the Indonesian authorities, so it ticks all the boxes.

If we look at the CoinMarketCap chart for BIDR, we can see that it has lost almost three percent over the past week. That would be very scary for s USD-backed stablecoins. However, this is due to fluctuating exchange rates and therefore depends on how you value your portfolio. 1 BIDR is still equal to 1 IDR, but the IDR has fallen against the dollar.

I am sure that one day there will be a DeFi forex market for stablecoins. Wherever there’s an opportunity, a market breaks out – you heard it here first.

Tokocrypto exchange withdrawal and deposit fees

The first step to both trading and withdrawal is the KYC, after which all other actions can take place. When placing trades, transactions on this platform incur fees similar to other crypto exchanges. However, theirs is lower as both maker and taker fees are at 0.1%, which is very encouraging as it spurs investors to invest more money. The lower transaction fees charged for cryptos on the platform have greatly contributed to its usage today. However, there are no deposit fees for crypto deposits on the platform as they are free. It is only the withdrawal that incurs fees, which usually vary depending on the tokens involved and their market value. This platform is also notable for being able to make both fiat deposits and crypto deposits. Hence, users did not limit as they can use both ways to invest in the platform.

For investing in BIDR, a stablecoin offered on the exchange, there is a minimum investment amount, which is 50,000 rupiah, even among the various options available on the platform.

The higher the investment, the greater the chances of more profits. Amazingly, this crypto platform supports both fiat withdrawals and crypto withdrawals, as well as fiat and crypto deposits. However, there are limits on fiat and crypto withdrawals determined by the user’s KYC level. Since the platform prioritizes providing customers with the best experience, deposits and withdrawals will make in the fastest possible time. Crypto deposits typically take three to five minutes, while fiat deposits will process within one to twenty-four hours. Fiat withdrawals on this platform also take around one to twenty-four hours, while crypto withdrawals are successful in ten to fifteen minutes.

Tokocrypto exchange security

Security has always been a strategic focus for most crypto exchanges, as users need to be assured of a certain level of security and protection for them to trust an exchange with their digital assets. Tokocrypto is an exchange that values ​​the safety of users’ assets. Aside from being a regulated platform and this supports its credibility, the processes involved in registering to ensure that those with fraudulent intentions are kept away. This is the main purpose of the KYC, which connects buyers and sellers and confirms that their intentions are legitimate. The KYC also eliminates the risk of users falling for scam schemes and reduces the possibility of losing money through fraudulent activities.

Each user’s account protects with a two-factor authentication feature for added security. This feature would require users to verify their identity twice, protecting their digital assets, account details, and transaction history. Two-factor authentication enables both the SMS and Google authenticator, and for the transactions to complete, users must go through the process. Tokocrypto as an exchange also commits to keeping investors safe as their servers regularly update to effectively deal with any form of cyber hacks. Therefore, users can trade on the platform with the peace of mind that their digital assets will keep safe.

Conclusion

Tokocrypto exchange sits in pole position in the vast Southeast Asian crypto market. They properly regulate in a country with tens of millions of potential unbanked customers. They back by the largest crypto exchange in the world and they are making the right moves.

Given the recent success of Binance, FTX, and Blockchain.com, I think the future looks surprisingly bright for Tokocrypto, TKO, and the Indonesian crypto industry in general.


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One response to “Tokocrypto exchange review and features”

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