CryptoBridge Review – Ultimate Guide That Explains Everything

CryptoBridge is a fascinating website that just lately released and proposes a possibility to offer a “better” solution to the centralized exchange issue that has been on-going. In case you haven’t noticed the exchange websites, world orbits around entities require you to deposit any sort of funds onto their website; intentionally bringing in a decentralized monetary medium in the form of crypto; to a centralized entity to trade with your peers.

With the continuous growth of the global cryptocurrency market, people are seeking a secure alternative to a centralized exchange. Therefore decentralized exchanges step in. In today’s article, we will get to know about CryptoBridge review as one of the other options.

What is CryptoBridge?

CryptoBridge

According to CryptoBridge review, it seems a decentralized cryptocurrency exchange that was established in 2017. It allows users to trade with Bitcoin as well as 150 other altcoins. With the use of the BitShares network, the platform is operated, and it featured the processing ability of 100,000 transactions for each second. Besides, it does not store the personal keys of the funds of their users. Although the exchange does not depend on a single BitShares gateway, however, it executes an amalgamated distributed network of many gateways that performs at a universal level. The system eliminates the option of any single point of breakdown.

BridgeCoin and CryptoBridge are tied closely, as this scrypt-mineable coin tends to gather investments for the development of CryptoBridge that developed in July 2017. You can stake your coins to get half of the profits that are made with CryptoBridge, only if you hold BridgeCoin.

Well, CryptoBridge review tells that you can access it either with the help of the web interface or via a desktop client that supports Windows, Linux or Mac operating systems.

Let us go into more details of the CryptoBridge review for a more in-depth understanding.

Decentralization

Being decentralized is one of the significant advantages of CryptoBridge. When using a centralized exchange, the reality is that you are vulnerable to hacking and dishonesty from the exchange owners. Therefore, in my opinion, decentralized exchanges such as CryptoBridge are a more secure option.

The Staking Scheme

BridgeCoin (BCO) token holders can stake or trade it, to get a share of the exchange’s revenue. However, further research on the viability of this as a form of investment would be wise.

Supported Countries

CryptoBridge review shows that it offers services on a worldwide scale, to its users from all countries, even American users are allowed as well.

Accepted Payment Methods 

Well, CryptoBridge review shares that the only payment methods supported tends Cryptocurrency deposits. Those who are looking to deposit in fiat currencies may not find it a suitable option to make deposits.

Supported Currencies

A huge array of coins and tokens are supported with CryptoBridge, which includes:

  • XVG
  • BCH
  • BTC
  • DASH
  • ALQO
  • LTC
  • RVN
  • LCC
  • ECA
  • BCO
  • IC
  • SMART
  • POLIS
  • XP
  • HTML
  • COLX
  • VSX
  • ZNY
  • DOGE
  • BWK
  • And other 150+ options.

CryptoBridge Charges

CryptoBridge review clearly shows that it charges unusual fees that depend on the operation, which you want to carry out:

Trading Fee: You might have to pay 0.2% trading fee on making a trade with any coin on the platform. Moreover, read liquidity providers (market makers), who “stake” at the exchange as well, will gain additional benefits.

Staking Fee: If you want to stake your BCO coins, you have to pay for making a stake on the BitShares blockchain. The BitShares Committee decides the fee so that it may vary according to them.

Gateway Withdrawal Fee: The CryptoBridge exchange charges a fee while making a withdrawal. And it used on the destination blockchain for processing the transaction.

Note: If you deposits in crypto coins into your account then no fees are needed to pay.

Security Features

CryptoBridge review explains that decentralized exchanges are much more advantageous as compared to conformist centralized exchanges. It becomes beneficial in security point of views as they lack a central point of failure. Decentralized platforms are safer in case of hacking, regional laws, and hardware issues, as they don’t have a single point of failure.

CryptoBridge review shows that it proffers the clear storage of all withdrawals, deposits and order books by recording them on the blockchain. While in the process of the account creation, you need to generate a 45 character pin number that includes numbers as well as letters. Only you are eligible to access your funds because the exchange does not hoard any private keys and it makes the user able to have full control over the account.

You are in control of your private keys

One significant advantage of CryptoBridge that can make users have more confidence in using the platform is the fact that they have complete control over their private keys.

Account Creation

While opening an account with the exchange, all you need is just a name for your account, and that’s it! Passwords generate randomly on alphanumeric code, which is undoubtedly impossible to trace. Once your password is generated randomly, you have to make sure that the password is not lost since nobody can recover the password if you lose the access to your account as well as the funds associated with it. For backup purposes, you must make sure that you have written the password on a paper or stored in the cloud. Once you have provided the required information, you will then notified again about the consequences if you lose the password and you will be notified as well to protect your password as much as you can. You will then redirected to the website landing page with your logged in account.

cryptobridge review

Customer Support

With the help of Discord, users may contact the support team of the exchange, for the queries and issues about trading or account matters. In the form of an email system, you will also get support. Other than that availability of social media is also there as clients are able to post their inquiries on Facebook or Twitter.

How Do You Start with CryptoBridge.com?

According to CryptoBridge review, when you want to get started with, at first go to the website and click on the Launch Dex button to set up your account. On that page, you have to choose a username and a generated password will b provided to you. Make sure to save the information somewhere securely. It is because you may need it to access your account. Keep in mind that if you lose access to your account, then you will automatically lose access to your funds.

At this point, you may start depositing and withdrawing funds into your account and start trading on the exchange. You also have an option to download a CryptoBridge client to use on your desktop without having any necessity to access a website.

Pros and Cons

Pros

  • It has a Decentralized exchange
  • Complete control of private keys is in your hands
  • Web and desktop versions
  • It has a Grand Design
  • It has Quick Account Plan
  • No ICO
  • Qualified team
  • Fast approval times which average around 3 seconds
  • Trading fee is low
  • Huge collection of cryptocurrencies
  • BridgeCoin (BCO) staking rewards holders with 50% of all trading profits
  • Dispensation capacity of up to 100,000 transactions for each second

Cons

  • Regarding customer support slow response times have been reported
  • It does not support fiat currency deposits
  • It has little company information
  • High Listing Fee (3 BTC Minimum)
  • Charges online about long wait times for care response
  • Comparatively new
  • Organization not transparent
  • No 2-factor verification
  • Low trading volume

More Advantages

Decentralized Exchange

The key feature of this exchange is its nature. Probably, you may have an idea about the risks of hacking and dishonesty form the owners of the exchange are always real when dealing with a centralized exchange. Although one must not get into the technical details, for the purpose of Cryptobridge review, it is a more secure approach.

Zero Deposit Fees

For a crypto-only exchange, it may seem obvious with no fiat currencies, but even some of them charge clients on deposits. Still, the blockchain transaction will most likely have a mining fee involved, depending on your coin of choice.

Competitive Trading Costs

The trading fee 0.20%, is applied to both market makers and takers is identical to the rates charged on some of the popular centralized exchanges. Market makers, who “stake” at the exchange, will get additional benefits as well.

Staking Scheme

After a fundraising token offering, which is not called an ICO, regardless of the similarities, Crypto Bridge was launched. BCO token holders can trade it at the exchange or stake it, to get a portion of the exchange’s revenue. On the viability of this as an investment is not an available option.

Other than that it would recommend doing additional research before participating.

 Well-Designed Platform

Crypto Bridge provides a more traditional conventional software and identical trading interface. More focused is on charts, whereas the rest of the items are associated in a logical manner. The platform has a standalone desktop client Windows, Mac, and Linux as well.

A Plethora of Altcoins

Crypto Bridge has more than 80 trading pairs available. The most popular coins are Bitcoin, Verge, and Litecoin. On the other hand, some of the less known altcoins have higher trading volumes.

More Disadvantages

One cannot deposit Fiat currencies

Cryptobridge does not allow the trading of fiat currencies.

Close ties with BitShares

Assuming something happened to the BitShares network, Crypto Bridge will go down with it. It includes all projects, which depend on other blockchains, such as the plethora of things inscribed.

Not best for new users

CryptoBridge review shows that it is not suitable for people who are not familiar with cryptocurrencies whatsoever. Operating effectively at this exchange requires you to create a new wallet, whose private keys you must control and protect.

Confused reviews

Although not that many, the reviews on CryptoBridge are mixed. Some traders say it’s a decent platform; however, some complaints have come up concerning reliability, which is the most vital aspect in a decentralized exchange.

A margin is not provided

For someone thinking of trading Bitcoin with leverage, CryptoBridge is not the right place to look. For example, some Forex brokers have begun to offer cryptocurrency trading.

Customer Support

Users can contact the exchange’s support team through Discord for any questions or issues concerning trading or account matters. Customer service is available 24/7 on social media as well; people can post their questions on Twitter and Facebook. They can also make inquiries via email.

Conclusion

Even though the trading volumes on CryptoBridge may be an issue for more experienced traders, there should be a turnaround if the project develops as planned. Crypto Bridge might be more secure than several other trading venues in the cryptocurrency world. However, some of the risks that come with this relatively new technology remain.

The best thing to do as always keeps track of reviews as you research. Make sure to avoid bitter reviews that are biased but to look for reviews that not only bash the website but recognize what it offers as well.

All the best!

 

5/5 (1 Review)

Leave a Reply

Your email address will not be published. Required fields are marked *

*

close-link
close-link