Regulation and Security Ethereum Trader
Ethereum Trader trading is not regulated. Ethereum Trader has been the victim of a hacking attack twice in the past. In 2015, $400,000 was lost before $73 million was stolen a year later.
Meanwhile, modern security measures such as two-factor authentication ensure a quieter sleep. The company also keeps large portions of its funds in cold wallets and thus mostly offline.
The trading platform
The trading platform includes a demo version and is therefore comparatively easy to use. Before you invest real money, you can try out the exchange. Various tools also offer you the possibility to display the Bitcoin rate and Co. in the best possible way for you personally. All important actions – such as buying, selling, setting limits and switching between cryptocurrencies – can be easily performed from the trading interface.
Fees and limits
Deposits over $1,000 are free of charge, while bank transfers incur a 0.1% fee. For smaller amounts, you currently have to pay 0.0004 BTC, or €1.28. For withdrawals, the same fees apply as for deposits under $1,000. Costs are also incurred for individual trades and depend on how much you have turned over via Ethereum Trader trading. The maker fees decrease from a trade of $500,000. There is only a limit if you deposit by fiat money in euros. In this case, the minimum amount is €10,000.
Ethereum Trader payment methods
You have three payment methods to choose from:
- Purchase by cryptocurrency
- Purchase by US Dollar
- Purchase by Euro
- Purchase with fiat money is possible by credit card or bank transfer.
Customer service can be reached via Twitter, Facebook, LinkedIn and Telegram. Additionally, there is an extensive frequently asked questions section. If these options do not answer a question, you can open a ticket in English, Russian or Chinese. Customer service response times have varied in our Ethereum Trader review.
The large number of coins distinguishes the exchange from many other trading platforms. Ethereum Trader trading is very convenient thanks to the additional tools. No verification is required for cryptocurrency deposits.
Registration and first steps
Registration and Ethereum Trader trading are simple. Click on “Sign up” and follow the steps on the screen.
If you want to deposit bitcoin or altcoins afterwards, go to “Deposit” in the upper right corner after registration. After that, simply choose the cryptocurrency you want to deposit and view the address. In the right part of the window you can see the last deposits.
Nice detail (see screenshot): Deposits that are still ‘on their way’ to one’s wallet are displayed, including the number of confirmations on the blockchain. This facilitates the overview.
All deposits are free of charge. Only the transfer of US dollars via a bank incurs a 0.10% fee.
The layout for withdrawals (= ‘Withdraw’) is identical.
One tab further up on the right, you can get a quick overview of the number and location of your own deposits by clicking on ‘Wallets’. In addition, the holdings can be moved here with a few clicks.