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C-PatEx Review - is it scam or safe?

C-PatEx Review - is c-patex.com scam or good cryptocurrency exchange?

RATING: 2.9 / 2 REVIEWS C-PatEx

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts & Conditions

 

Account type

Leverage

Trading fee

Withdrawal Fee

Standard

N/A

0.15%

Unspecified

 

C-PatEx is a digital asset platform, based in Argentina. It offers low-cost trading in quite a lot cryptocurrencies, in addition to the local fiat currency, ARS.

 

In order to use C-PatEx, crypto-traders need to verify their e-mail address. To withdraw, they must verified their identity either by Two Factor Authentication (2FA) or a code sent via SMS. Identity verification via ID card and other legal documentation is required only for users who trade with ARS (Argentinian Pesos).


C-PatEx also offers trading in its own shares, PATS (C-Patex shares), 50 000 of which have been released on December 1, 2017. Shareholders are paid monthly dividents in BTC.




C-PatEx Advantages

 

Low fees

C-PatEx charges Both Market Takers And Market Makers with a fee of 0.15% per trade, which is comparatively low amount. By comparison, CryptoMarket, a South American Ethereum exchange, charges up to to 0.70% per trade.

 

Furthermore, C-PatEx does not charge deposits, only withdrawals out of the exchange.


Solid number of altcoins

Another major advantage of C-PatEx is the fact that it offers solid number of altcoins. Currently, there are more than 30 pairs available for trade on this exchange. In addition to the popular Bitcoin, Bitcoin Gold, Bitcoin Cash, Litecoin, Dash, Dogecoin, the exchange has listed some exotic coins such as Blakecoin, HTMLCOIN, and others.


As you have probably noticed, however, some major coins are not available for trade at C-PatEx. Read the details below in the Disadvantages section.


Works with fiat (ARS)

Apart from the decent coin offering, C-PatEx works with Argentinian Pesos (ARS). This makes the services offered by this exchange more accessible to local novice traders. Keep ion mind, however, that all clients of C-PatEx can trade ARS, but only citizens of Argentina are able to deposit and withdraw Argentinian Pesos.


 

Enjoyable trading platform

The web-based trading platform provided by C-PatEx is nicely arranged and has a functional order book, charting with many time frames and some technical analysis indicators, as well as news section. Here is a snapshot:


 


C-PatEx’s platform. Click to zoom-in.


As you can see, trading is not done solely against BTC or ARS. You may also trade against Bitcoin Cas, Litecoin, Dogecoin and Blakecoin.

 

C-PatEx Disadvantages

 

Leverage not available

Like most similar platforms, C-PatEx does not provide trading on margin. In case you are looking to trade Bitcoin speculatively, some of the forex brokers which provide cryptocurrency CFDs, like IG, may be a nice alternative.

 


>> Bitcoin margin trading <<

 


We must note, trading with such a company involves dealing in the so called Contracts for Difference (or CFDs), which only mimic the price of the underlying crypto. There are a few more specifics, which we have explained here.


No Ripple, Ethereum and ERC-20 tokens available

As we mentioned briefly above, although there are a number of altcoins available for trade at this exchange, some very popular digital assets are missing. Some traders would probably be disappointed that C-PatEx has not listed Ripple, Ethereum, nor any ERC-20 token.


Focus on Argentina

The only fiat supported by this exchange is Argentinian peso. Besides, solely citizens of Argentina are able to deposit or withdraw in ARS.


Low liquidity on most pairs

It looks like trading volumes all pairs at C-PatEx, except LTC/BTC, are quite poor. Low liquidity of assets means that they can be easily manipulated.



Conclusion

 

One of the main selling points of this exchange is the fact that offers a decent amount of altcoins for trade, and also supports trading against ARS. Its platform also seems nice and perfectly functional. What bothers us with C-PatEx is the low liquidity, as well as the fact that withdrawal fees and minimum amounts are not specified. Other than that, its trading fees are low and it does not charge fees on deposits.


C-PatEx is a a relatively small exchange, launched and operated by a family team from Patagonia, Argentina. Behind the brand is the company MAG Sistemas, founded and managed by Miguel Angel Grau. The website, on the other hand, is based on the open source project Peatio (with some improvements). As a whole, C-PatEx seems like a credible company.


Yet, we feel the need to reiterate the inherent risks of the cryptocurrency space. Most of the crypto-exchanges worldwide, C-PatEx included. are not licensed, nor monitored by any authority. In case you prefer investing with a regulated firm, forex broker might be a safer alternative.


 

>>Trade Bitcoin with a regulated forex broker<<

 

Here is a summary of the pros and cons with regards to C-PatEx:

 

Pros

Cons

Low fees

No leverage available

Solid number of altcoins

Focus on Argentina

Fiat currency accepted (ARS)

No Ripple, Ethereum and ERC-20 tokens available

Enjoyable trading platform

Low liquidity

 

 

 

 

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Traders` reviews for C-PatEx

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Slippage

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Requotes

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Price feed

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Summary

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This is a fraud site

They took all my coins and suspended my account. Recently, I lost my 2FA code because I changed my cell phone and installed a new google authenticator app. This requires a reset on the 2FA on C-Patex website so that I can get the new code on my google authenticator app. I would explain to you how this site is a fraud when you try to reset your 2FA on this site, there is no option to do that. You have to send an email to customer care to reset your 2FA. But these guys will ask you irrelevant questions such as what coins and how many you have in your account. This is insane, how should I know these details when I am not able to log in, and the last time I logged in was like 8-10 months ago. When I have a different answer they suspended my account and told that I am a hacker. This is funny, these guys are just here to steal all your coins. Beware, don't put the coins in their wallet as they are big scam.

Kaka 06/13/2019

C-Patex now ETH trades

Hi they added Ethereum, with a plus , low deposits under 0,1 ETH are allow.

Thanks for the review.

ljrossi 06/15/2018
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