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Dasset Review - is it scam or safe?

Dasset Review - is dassetx.com scam or good cryptocurrency exchange?

RATING: 2.8 / 2 REVIEWS Dasset

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts & Conditions

 

Account type

Leverage

Maker fee

Taker Fee

Standard

N/A

0.35%

0.65%

 

Dasset is a relatively small New Zealand based cryptocurrency exchange. It mainly offers trading against the local fiat currency, NZD, but coin-to-coin trading is also enabled.

 

As most exchanges that work with fiat, this one also requires ID verification, so its users are not able to trade anonymously.

 

 

Dasset Advantages

 

Fiat currency payments

As we mentioned already, Dasset supports the local fiat currency - New Zealand Dollar, and accepts bank wire transfers. This option is mostly appreciated by newcomers in the crypto world, who don;t have any coins yet.

 

No fees on deposits and withdrawals

Another strong side of Dasset is that currently it does not charge any fees on deposits and withdrawals (including those in NZD), which is not common in the industry. Nonetheless, the banks involved in this process certainly would charge some.

 

In fact, the exchange plans to add crypto withdrawal fees in the future to cover the transaction costs on its respective cryptocurrency network.

 

Registered as a financial services provider in NZ

The company that owns and operates Dasset, Digital Asset Exchange Limited, is registered on the NZ Financial Service Providers Register and is also a member of the Insurance & Financial Services Ombudsman Scheme Inc.

 

While this does not mean that it is regulated as a crypto exchange, it certainly adds a significant layer of credibility to Dasset.

 

Nice trading platform

The web-based platform provided by Dasset is very nice. It is simple, and yet offers some advanced features, such as solid charting and wide range of technical analysis indicators. Besides, there are numerous order types: Limit, Market, Stop, Stop-Limit, Trailing Stop, Fill or Kill. Here is a snapshot of the platform:

 

 

Dasset's web trading platform. Click on the image to zoom in.

 

Security

Like most exchanges, Dasset uses Two-factor authentication (2FA) - an enhanced security measure requiring a second pass-code in addition to username and password. What is more important, digital currencies at this exchange are stored in multi-signature cold wallets, and user data is encrypted.

 

 

Dasset Disadvantages

 

Focus on the local market

As the only fiat currency supported at Dasset is NZD and trading requires a New Zealand registered bank account, it is obvious that this exchange targets mostly local investors.

 

High trading fees

While deposits to and withdrawals from Dasset are free, users are charged with comparatively high trading fees. Market takers have to pay 0.65% per trade, and Maarket makers are charged with 0.35%, while most exchanges charge something in the range of 0.15% – 0.25%. Besides, many of those exchanges do not charge market makers at all, because they are the ones who adds liquidity to the order book.

 

Leverage not available

Users of this exchange cannot borrow investment for margin trading. This is not a major flaw, as most exchanges don’t. Meanwhile, the majority of brokers that offer trading in cryptocurrencies, offer some leverage, and some of them are licensed and trusted.

 

 

>>Margin trading in Bitcoin with regulated brokers<<

 

 

That being said, we have to clarify that most of those brokers actually offer Bitcoin and altcoin trading in the form of CFDs.

 

Only 6 coins listed

By the time of writing of this, Dasset supports only some of the most popular digital assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Eos (EOS). This Those of you who willing to explore more altcoins may check out the offering of Cryptopia – one of the largest New Zealand exhanges.

 

Limited payment methods, slow fiat withdrawals

As we mentioned above, Dasset works only with bank accounts, and withdrawals may take up to 2 business days. Its users are not able to use credit cards, debit cards or Paypal, for example, which are quite popular payment methods. Many people prefer to use their credit cards, as payments are instant.

 

>> Wanna buy bitcoin with card? <<

 

 

Conclusion

 

Dasset, whose name comes from Digital + Asset is a relatively small crypto exchange, located in Auckland, New Zealand. Its users can exchange Bitcoin and several other cryptocurrencies against New Zealand Dollars and Bitcoin.

 

Mostly focusing on the domestic market, Dasset has both its advantages and disadvantages. Speaking of weak sides, the trading fees at the platform are quite high, there are only a few coins listed, and leverage is not available. On the other hand, Dasset supports fiat currency, does not charge deposits and withdrawals, and provides a good trading platform. More importantly, it places a focus on securoty nad is registered as a Financial Services Provider in NZ.

 

To sum up the above in a few words:

 

Pros

Cons

Fiat currency payments

Focus on the local market

No fees on deposits and withdrawals

High trading fees

Registered as a FSP in NZ

Leverage not available

Security

Only 6 coins listed

Nice trading platform

Few payment methods, slow withdrawals

 

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Traders` reviews for Dasset

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Slippage

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Requotes

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Price feed

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Platform

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Customer service

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Summary

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They asked for my bank account password

They asked for my bank account password for verification.

Sure this must be a scam.
I first thought I read this wrong. This almost criminal....

Kiwi_101 10/22/2018

Totally disappointed with Dasset

Invested a lot of time just to create an account and get verified and is still incomplete. Customer support asks for documents but doesn't mention where to send to.

If you get verified then okay otherwise don't bother to follow-up with customer service and buggy website.

Bhushan 07/18/2018
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