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Tokens.net Review - is it scam or safe?

Tokens.net Review - is tokens.net scam or good crypto exchange?

RATING: 2 / 0 REVIEWS Tokens.net
Tokens.net is not regulated. We cannot guarantee your money is safe.

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Trading Accounts & Conditions

 

Account type Leverage Min. trade size Trading fee Withdrawal fee
Standard 1:1 0.0005 BTC / 0.005 ETH Some DTR 0.0005 BTC / 0.005 ETH

 

Tokens.net is a new crypto project that is still in Beta after a successful ICO. It is live now and seems quite interesting. Actually, Tokens.net is intended as a trustworthy, transparent, safe, and reliable place to exchange ERC20 tokens and other cryptocurrencies, with a focus on their native token, DTR (Dynamic Trading Rights). DTR is an ERC20 token on the Ethereum blockchain that is also actively traded on Livecoin.

 

Keep in mind that residents of the USA and some FATF/EU restricted countries will not accepted as clients of Tokens.net.

 

 

Tokens.net Advantages

 

Low-cost exchange

Currently, Tokens.net does not charge trading fees, but they plan to introduce some to be paid in DTR. The trading fees will be based on the market price of DTR at the moment of the trade. Users that do not hold DTR will be charged a fee in the currency they are trading in. This model reminds us of Binance and the way they use their BNB token on the platform.

 

Aditionally, this exchange does not charge deposits, and withdrawals incur some fees, which are nit high: 0.0005 BTC; 0.005 ETH; 30 DTR.

 

Transparency and liquidity

DTR used for trading will be burned on the Ethereum network via a smart contract designed to destroy tokens on a regular basis. Since every trade on Tokens.net will burn a certain amount of DTR, the daily volume on the platform will have to match the amount of tokens burned every single day. This will ensure the transparency on the exchange.

 

Some info on the company and the team

Unlike some other crypto exchanges, Tokens.net shares with the public important information about the company that owns it, its headquarters and the team, which leaves a good impression.

 

Tokens.net was founded by Damian Merlak, a person who is well-known in the crypto sphere, as he is a co-founder of major crypto exchange Bitstamp. Behind the brand is Token Holdings Group, a company based in London, United Kingdom.

 

Bitcoin and Ethereum listed, more to be added

By the time of writing this review, Tokens.net offers trading in Bitcoin, Dynamic Trading Rights, and Ethereum. This is not a diversified crypto portfolio, but other cryypto venues offer only BTC trades. Besides, the exchange’s teal plans to expand its coin offering (and calls on users to vote which ones).

 

Platform seems good

We could not test Tokens.net’s platform, as currently you need an invitation email to do this. Nonetheless, we fiound s sneak-peak into the platform in the bitcointalk forum.

 

 

The platforms seems good, with advanced charting and nice design. Besides, a mobile app will be rolled out in days (planned June 2018).

 

 

Tokens.net Disadvantages

 

Still in beta, access only via invitation

As we said in the beginning, Tokens.net is still in Beta version. As it is still in development, all kinds of bugs are possible on the platform, and trading volumes might be low, which is an obvious flaw.

 

Also, the platform is not easily accessible yet, as invitation email is needed to test it.

 

Limited number of coins, no fiat currencies support

Tokens.net does not work with fiat currencies, such as US dollars, Euros, etc, which makes it not that beginner-friendly. Besides, there aren’t many altcoins listed on the exchange to date – only ETH and DTR.

 

No leverage available

This exchange is not designed to provide trading on margin, which is not a major disadvantage, as most similar venues don’t. Those who wish to speculate on the prices of major cryptocurrencies, without owning them, can sign up a forex broker. Some of them offer crypto CFDs with some leverage.

 

 

>> Bitcoin Forex brokers <<

 

 

Minimum order size set

Tokens.net has set certain minimum order sizes for base cryptocurrencies, which is not a major disadvantage, yet we must mention it a limitation of sorts. Here are the details:

 

Cryptocurrency

Minimum Order Size

BTC

0.0005 BTC

ETH

0.005 ETH

DTR

30 DTR

 

 

Conclusion

 

Although Tokens.net is still very new and in beta testing mode, the project seems promising – it is backed by a reliable team, and promises transparent and low-cost crypto trading. The fees also seem quite attractive.

 

Speaking of reliability, most of you probably know that most jurisdictions worldwide have no regulation for bitcoin exchanges yet, including the United Kingdom. So, we’d like to remind those of you who would rather trade with a regulated entity that trading in cryptos can also be done with forex brokers. Here is a list of some of them that are tightly regulated:

 

 

>> A list of regulated brokers offering margin Bitcoin trading <<

 

 

Here are, in a few words, the advantages and disadvantages regarding Tokens.net:

 

Pros Cons
Low-cost Still in beta, access only via invitation
Transparency and liquidity Limited number of coins, no fiat currencies support
Some info on the company and the team No leverage available
Platform seems good Minimum order size set
Bitcoin and Ethereum listed, more to be added  

 

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Traders` reviews for Tokens.net

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