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Token Store Review - is it scam or safe?

Token Store Review - is token.store scam or good cryptocurrency exchange?

RATING: 1.8 / 7 REVIEWS Token Store
Token Store is not regulated. We cannot guarantee your money is safe.

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Trading Accounts & Conditions

 

Account type Leverage Taker fee* Deposit ETH Gas Fee
Standard 1:1 0.30% 0.00015 ETH - 0.00035 ETH

 

*ETH Gas Fees also apply for withdrawals, trades, and cancellation orders. These fees are paid to miners on the Ethereum network.

 

Token Store is a decentralized exchange that offers trading in mostly ERC-20 tokens against Ethereum. Fiat currencies are not supported on this exchange and it does not provide any leveraged trading.

 

Its developers admit Token Store is built on smart contracts in a very similar way to EtherDelta with some minor additions.

 

Token Store Advantages

 

Decentralized

A decentralized exchange is an exchange that does not rely on a third party to hold customers’ funds. Instead, decentralized exchanges facilitate trades that occur directly between customers, on a peer to peer basis. Because decentralized exchanges do not store coins, funds, private keys or any other user information on centralized servers, it is much more difficult for hackers to compromise sensitive information.

 

A lot of tokens offered

Token Store offers many Etheereum (ERC-20) tokens for trade, as well as Tether USD and Tether EUR (cryptocurrencies, backed by US dollars, and Euros, respectively). Its list of supported altcoins currently features more than 15 tokens, including OmiseGo, Tether USD, Tether EUR, SALT, Tron, Verify, BountyOx and more. The most heavily traded ones at the time of writing of this review are CRED/ETH, and BNTY/ETH.

 

Besides, if you have participated in an ICO, you can try to get it listed on Token Store.

 

Token Store Disadvantages

 

Trading only against ETH

While trading in quite a lot altcoins is available at Token Store, this only happens against ETH. Additionally, some popular non-ETH coins, are not supported – there is no Bitcoin, Litecoin, Bitcoin, Gold, Ripple, etc.

 

Dependent on the Ethereum network

If there is serious backlog on the Ethereum network, the this will slow down trading at Token Store, as it is done solely against Ethereum.

 

No information about the company

This exchange has shared absolutely no information about the company that owns it. We don’t know its name, headquarters, etc, which does not speak well for Token Store.

 

Fiat not accepted

This exchange does not accepts cash payments (USD, EUR, CNY, etc.) via bank wire, credit cards or other convenient payment methods, which makes it not that beginner friendly.

 

Fees slightly above the average

Market makers (the people who add liquidity to the exchange) do not pay fees at Token Store. On the other hand, market takers (those who take away liquidity, by “hitting” one of the orders) have to pay a 0.30% fee. This is very slightly above the average in the crypto market, however Ethereum gas fees also apply.

 

These are fees charged by the Ethereum network, which are paid to miners They include include the following:

    -Deposit ETH, withdraw ETH, withdraw token, cancel order: ~0.00015 ETH

    -Deposit token: ~0.00035 ETH (approve + deposit)

    -Trade: ~0.0004 ETH

 

Trading platform with no charting

Token Store provides a simple platform resembles the EtherDelta’s trading interface, arranged in a different (actually, more user friendly) manner. It has an order book and a trade history window and basically that’s it. There is no charting, no technical analysis tools, nor a chat box or market depth window..

 

Here is a preview:

 

 

No margin trading

As we mostly review forex brokerages, we are used to them offering margin trading. Most crypto-exchanges, however, don’t do that, partly because digital assets tend to be more volatile. If you need some leverage, you can check out exchanges like bitFlyer, or Kraken. Of course, forex brokers are also an option, as some of them offer margin trading in Ethereum CFDs.

 

>>Forex brokers offering leveraged Ethereum<<

 

Conclusion

 

An Ethereum exchange similar to EtherDelta, Token Store has in fact very few advantages: first, it is decentralized; and second, there is a decent amount of altcoins offered for trade.

 

Its weak sides, on the other hand, seem too many. First, he exchange has not provided any information about the company that operates it, which makes us wonder whether it is safe to invest with it. While most crypto-exchanges are not regulated, which involves certain risks, almost all of them share with the public at least the name of the company owning them. If you would rather trade in cryptocurrencies with a properly licensed firm, you can check out the link below.

 

 

>> Regulated forex brokers offering cryptocurrency trading<<

 

Second, trading at Token Store is rather limited: its is done solely against ETH (which makes it dependent on the Ethereum network), it does not support fiat currencies, and you cannot use this platform to trade in Bitcoin or other popular cryptocurrencies. Besides, its trading fees are above the average, its platform is too simple and lacking advanced features.

 

Here are the strong and weak sides about his exchange:

 

Pros Cons
Decentralized Trading only against ETH
A lot of tokens Dependent on the Ethereum network
Relatively nice platform Fiat not supported
  Slightly non-competitive fees
  Low liquidity on some instruments
  No leveraged trading
  No information about the company

 

Latest news about Token Store
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Traders` reviews for Token Store

Spread

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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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Deposit/Withdraw

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Customer service

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Summary

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Where's my money

To who this may concern;
Im going to give this company 24 hours to return funds or we will be facing a law action suit against you with the federal goverments.
I myself have $521,000 outstanding and will have it returned or will take further steps as in involving the National_Fraud_Authority
https://en.wikipedia.org/wiki/Internet_fraud

My portfolio and adress is attatched.
Kind regards.


https://portfolio.emoon.io/portfolios/default

Samuel Woonings 11/22/2018

cant get my balanc payed

im not sure if they make a mistake if i sell ,i get not the balance back , big fraude ??? bad support

geri 11/04/2018

Failed transaction not realty failed all the time

I was getting as whole bunch of failed action notices. Upon going to the Token.Store tab I found half where filled anyway. So poke around on the different pages and check to see if the coin actually shows and the ETH amount has changed.Refresh often. Sometimes that jogs it memory even though it will still say failed.

Doug Cutler 11/02/2018

troubles

I had trouble with the Token Store, too, in many failed transactions I was charged very severely inexplicably, I can not complain anywhere.

Dan 10/15/2018

Token.store transfer

I had trouble transferring from my personal wallet to my exchange wallet. I put in a help ticket and was directed to the tokenstore "Telegram" group. I then received a PM from someone who wanted to see a screenshot of the transaction and also my wallet address. I provided both and received a message that my account had not been verified via the "cointest", I send 2 ETH to the address they provide and they will immediately refund it back to my account. LOL I politely informed then that although I may have been born at night, it WAS NOT LAST NIGHT.

What a scam. They had the same logo and were on Telegram as a group. BEWARE.

CharleyH

Charles Harman 08/10/2018

token store stripped my accounts

token store stripped my accounts and all records I dont value this site any site without a headquarters should be shark store as soon as you deposit you get eaten well your moey does

Travis Reed 05/25/2018

Token Store is the worst exchange I've ever used

This exchange barely works -- will fail account transfers and withdrawals. That's pretty much all you need to know.
I'd be more forgiving if they said they were having issues or trading volume is intense, but they offer nothing but failed or seriously long pending orders.
I'd rate it a negative 5 if it were possible.

Grady Johnson 03/03/2018
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