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Crypto Derivatives Review - is it scam or safe?

Crypto Derivatives Review - Is cryptoderivatives.market scam or safe cryptocurrency exchange?

RATING: 3 / 1 REVIEWS ForexBrokerz Crypto Derivatives

RECOMMENDED BITCOIN BROKERS


Trading Accounts & Conditions

Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:1 Complicated* Complicated* Uses external wallets

*trading is done via smart contracts, which makes giving a single number inaccurate.


Crypto Derivatives is a decentralized, trustless, Ethereum based exchange. This comes with some pros and cons, which we will discuss in the review. That being said, we will keep the usual style of review – taking the perspective of an active trader, who may not be that familiar with the Ethereum ecosystem. This automatically means the exchange will be viewed as slightly complicated and not recommended for beginners.


Crypto Derivatives Advantages


Decentralized exchange – being such a trading venue is a huge advantage, in terms of security. When trading with a centralized company (the opposite of this), one deposits his funds/coins to it. Trading is then only executed within their database, without further blockchain transfers. However, if a hack occurs, some of the tokens (depending on the exchange and the hack) will be at risk. Furthermore, the owners may simply decide to “cash out” all the coins.


A decentralized exchange is basically an online listing for buyers and sellers, who exchange their digital assets through the actual blockchain in question. In the case of Crypto Derivatives this is done through Ethereum smart contracts.


Low, but complicated fees
– in order to fully grasp the costs of trading at this exchange, one must realize there are a lot of small charges involved in order to prevent AI traders from spamming the network (which you may have seen at centralized ones). This is why the structure is rather complicated. Here is the most up to date one from Crypto Derivatives:



As you can see, this is effectively very low, especially for bigger traders.


Over 30 tokens supported – this list is to be expanded further in the future. We must mention for the newcomers that only Ethereum based ERC 20 tokens can be traded against ETH on this exchange. At the time of writing the most popular coins, in terms of actual transactions are EMV, GNT and LUN.


Crypto Derivatives Disadvantages


Not for everybody – just to reiterate, this is not a beginner-friendly exchange. One would need at least a conceptual understanding of the Ethereum ecosystem before participating. Additionally, time will be spent go through the wiki and potentially a few Reddit threads.


Does not accept US citizens
– given the regulatory conditions in the States, Crypto Derivatives simply prefers to avoid dealing with such clients. This may annoy some of you, but is becoming a more common practice nowadays.


No fiat currency trading – this is definitely not an “entry level exchange”. Even fiat-backed tokens, like USDT are not treaded here. While the latter may be for the better, given the rumors surrounding Tether, a newcomer will have to first buy Ethereum at a different venue.


>>Exchanges supporting bank transfers<<


Odd tokens are popular – as we mentioned above, the tokens which are traded at this exchange are not the most highly traded ones. This may seem strange, but is often the case with decentralized trading venues.


No charting – the interface at Crypto Derivatives is more reminiscent of an Excel spreadsheet, than a trading platform. It is fully functional for it’s purpose, but one would have to track the price movements of tokens elsewhere. Here is a preview (click to zoom):



Margin is not available
– this shouldn’t come as a surprise, but we still have to mention it. Traders, who are willing to “gear up” in the world of crypto may actually be better off with a forex broker.


>>Ethereum forex brokers<<


To clarify, trading with these companies is done via Contracts For Difference. The so called CFDs are actually financial derivatives (a bit ironic, given the name of this exchange), which follow the price movements of a given underlying asset. To learn more, go to our detailed explanation.


Based on the Ethereum network – all trading at Crypto Derivatives is done via actual blockchain transfers. If the network is cluttered (as was the case, when the crypto cat game came out), this exchange will also be affected.


Conclusion


Crypto Derivatives is a decentralized Ethereum token exchange. They provide lower fees than some of their counterparts. Still, trading volumes and the popularity of this exchange aren’t up to speed (yet). While we generally like what we see, our score reflects the fact this is not a beginner-friendly exchange.


In case you are only looking to speculatively trade cryptocurrencies, we will again recommend taking a look into the forex brokers, which offer CFDs on the major coins. Keep in mind some of them may be quite shady, so look for regulated companies. You can find a list of them below.


>>Trusted cypto forex brokers<<


The strong and weak sides of Crypto Derivatives again:

Pros Cons
Decentralized exchange Not for everybody
Low, but complicated fees Does not accept US citizens
Over 30 tokens supported No fiat currency trading
  Odd tokens are popular
  No charting
  Margin is not available
  Based on the Ethereum network

 

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Traders` reviews for Crypto Derivatives

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