This article presents the information about SpectroCoin which is a versatile crypto exchange allowing services like trading, wallet and a specific referral program.
Founded in Lithuania, it allows working with a number of cryptocurrencies and fiat currencies with low fees and sophisticated trading.
Those are its functionalities, security and user experience in brief.
About SpectroCoin Pro
Re-launched in 2020, SpectroCoin Pro is a centralized trading and exchange platform under the SpectroCoin brand.
The exchange platform is built on years of expertise in the crypto and FinTech fields, with a team that strived to meet the needs of today’s cryptocurrency users.
Currently, the platform fully supports 35 major cryptocurrencies and tokens as well as provides EUR, USD, GBP trading pairs, deposits and withdrawals.
Through SpectroCoin brokerage, users can deposit and withdraw supported fiat currencies and trade major cryptocurrencies.
Transfers throughout the SpectroCoin ecosystem are instant and free of charge. Also, the platform maintains a high level of security by keeping up to 98% of virtual assets in offline cold storage.
SpectroCoin Pro also features trading tools and fee schedules that are some of the most competitive in the current crypto market.
SpectroCoin Pro Overview
| Feature | Details |
|---|---|
| Headquarters Location | Vilnius, Vilniaus, Lithuania |
| Fiat Currencies Supported | USD, GBP, EUR |
| Total Supported Cryptocurrencies | 57+ |
| Trading Fees | 0.1% – 0.2% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Skrill, Neteller, Volet.com, Payeer, Perfect Money |
| Support | Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes – iOS, Android |
How to Sign Up on SpectroCoin Exchange?
Here is what you do to open an account on SpectroCoin:
Go to the SpectroCoin Website: Open the SpectroCoin website
Go to the Sign Up page: To open the registration form click the Sign Up Button
Fill in the Registration Form: Fill in your email address, create a password and accept the terms of conditions.
Fill in and Submit the Form: Once the user points out all the necessary details, he submits the filled-in form for account creation.
Check Your Email: Please, keep your registered email close because SpectroCoin will send a confirmation email to your registered email address.
Follow the link in the email to finalize your registration. Note that the confirmation email may land in Spam/Junk inbox
Authenticate: However, in order to be able to use all functionalities, it is necessary to go through the authentication.
Also, the user should show an ID which can be a passport, ID card or drivers’ ID.
For such verification you are requested to photograph the cover of the ID, the decorated page with the ID, and a ‘selfie’ where you hold the ID page next to your face.
SpectroCoin Fees
SpectroCoin has formulated its fee schedule to meet the various expectations of its user base.
It levies fees based on factors such as withdraws, deposits, and currency conversion and thus customers are not overcharged relative to what services they get.
While some other fees may vary, SpectroCoin focuses on offering reasonably low fees considering the high level of service it provides.
The platform is also unique in a sense that it differentiates itself from the various exchanges by offering low fees while clients have limited balance restraints and a wealth of other features.
Users also enjoy advanced tools for trading, with costs related to transactions conducted (like deposits via credit card or transfers of crypto) decreasing with the frequency of use.
This is a summary of the main fees:
SpectroCoin offers a variety of cryptocurrencies and different withdrawal fees for each of them; for Bitcoin, the fee for withdrawal is 0.0006 BTC and this is significantly higher than the average in the industry that is placed at 0.000386 BTC, by 55.39%.
This also suggests that there could be higher fees and spreads for other cryptocurrencies within the platform as well.
How Many Types of Trading Options Available
Various forms of trading strategies help traders in the financial markets which include:
Spot trading
It is when the buying or selling of an asset is for delivery immediately – the transaction is completed “on the spot” or within a brief period.
Margin Trading
A trader is able to borrow cash or assets for the purpose of enlarging or increasing his or her position, as well as the profits and losses.
Futures Trading
Involves contracts to buy or sell an asset at a specific price sometime in the future.
Options
Options are contracts which give the holder the right, but not the duty, to buy or sell an asset at a certain price before a certain date.
Derivatives trading
Are also ordinary trades on futures, options and other contracts that gets their values from their end basis such as cryptocurrencies, stocks, commodities etc.
Algorithmic Trading
Automated trading where algorithms are utilized to undertake high speed and high frequency trading often based on prevailing market conditions to a given set of parameters.
Copy Trading
This is a type of trading where t he users follow expert traders and copy their activities, usually facilitated by trading platforms that provide such a service.
Is SpectroCoin Safe?
Many concerns have been raised about finding the right cryptocurrency platform.
Luckily, SpectroCoin has built an online ecosystem that makes trading safe and secure while focusing on the needs of the end user.
SpectroCoin prides itself in placing customer security first through continuous improvements due to the measures put in place to protect funds and personal information.
What the user should understand is that their data is always encrypted, and is also protected with a 2FA for optimal security.
The good news is that most of SpectroCoin’s accounts are stored offline which considerably halts online threats.
SpectroCoin offers hassle-free cryptocurrency trading and concern about safety is a low priority for the user.
SpectroCoin Exchange Features
Wallet
Store and manage your digital currencies anywhere, anytime. Access the platform with mobile app or web browser. 40+ currencies supported.
Debit card
Exchange your Bitcoin and other cryptocurrencies to euros and pay wherever you want. Use your card to pay at millions of shops or withdraw cash at local ATMs worldwide.
Personal dedicated IBAN
Get a personal IBAN account in your own name to make deposits and withdrawals directly to and from your SpectroCoin account.
Exchange
Instantly exchange Bitcoin and other cryptocurrencies. A wide variety of payment methods available, including credit or debit cards and bank transfers.
Crypto-backed loans
Get a crypto-backed loan by pledging your cryptocurrency assets as collateral. Use the platform to borrow against your crypto holdings such as Bitcoin, Ether, XEM, Dash and others. Instant payouts to your bank account or blockchain wallet.
Accept cryptocurrency in your business
Accept Bitcoin and other cryptocurrency payments at your online or physical store. Avoid cryptocurrency price volatility by fixing the exchange rate and receiving USD, EUR, GBP or your local currency directly to your bank account.
SpectroCoin Referral Program
Just like other crypto exchanges, SpectroCoin offers a referral program where the users earn by getting other people to the Platform. Here’s how the program works generally:
Referral Link: Other users have a referral link which they can share with friends, relatives and on social networks.
Earnings: If a referred person makes a registration in the referral link and starts trading, then the referral gets a percentage from the trading fees paid by the referred person. This fee changes regularly thus it is good to visit latest terms on SpectroCoin.
No Limits: Usually there are no restrictions on how many users a person can refer which makes the potential earnings to increase the more people registered in the platform.
Benefits for Users Who Are Being Referred: The new users, on the other hand, tend to enjoy the program too because they are awarded extra bonuses for registering via a referral link or lower fees for completing a task for yam.
SpectroCoin- Crypto App on Android & iOS
Available on Android and iOS, SpectroCoin is an all-in-one cryptocurrency app which is very easy to use.
The interface is rather intuitive so users can log into their accounts, keep an eye on the market, and trade cryptocurrencies without any hassles.
The application includes a wallet, the debit card as well as letting borrowing against crypto.
It has got many positive reviews with regards to its interface and customer service but some users also complain about the high charges and delays in withdrawal from the account sometimes
Customer Support
Customer service has 4 major options and usually, it takes 1 business day to respond, but there have been issues that the responding time seems to take a lot longer sometimes or do not respond at all.
You may contact them in the following ways:
Email: helpdesk@SpectroCoin.com This is the email to which they are contacted for assistance.
Phone: +44 20 3769 5474 The number is mainly utilized by customers.
Social media: They are also present on Facebook and Twitter which makes it easier to reach them.
Ticket Request: you can also fill a ticket request through the “contact us” page even.
SpectroCoin Exchange Alternatives
Coinbase
It is beginner-friendly with a range of crypto coins available as well as features such a secure wallet, learning center and several options for trading.
Bitstamp
One of the oldest remaining exahanges Bitstamp provides easy user experience with affordable trading costs and multiple fiat options making it recommendable for novice and experienced amateur alike.
Huobi
It has numerous coins to choose from, competitive fees and offers margin and future trading on their platform to the worldwide audience.
KuCoin
Primarily known for its extensive list of altcoins, KuCoin has fantastic trading prices and distributes tonnes of features including transactional trading, future trading and staking.
Conclusion
To summarize, SpectroCoin seems to be a decent platform for avid cryptocurrency users with a good blend between beginner friendly and advanced features.
Its ability to cater to more than one currency, fair pricing, and reliable security make it a viable alternative for both novice and veteran traders.
Regardless of whether you seek entry level transactions or advanced techniques for trading, SpectroCoin’s performance is solid in the competitive world of cryptocurrencies.
