CrossTower Review – Is CrossTower Scam or Legit?
Financial systems in the world today are rapidly going digital as digital assets are speedily gaining relevance and importance in the business world. Transactions are now being done globally with the acceptance of digital assets as a means of payment and settlement of debts. One of such digital assets is a cryptocurrency that is rapidly gaining ground and is set to replace fiat currency in the coming years. The global interest in cryptocurrency has led to the establishment of crypto exchanges where this digital asset can be bought and sold. Today there are numerous exchanges with which a crypto enthusiast can be associated. However, CrossTower exchange is one platform where you can be assured of a warm and worthwhile experience while trading cryptocurrency.
Nowadays, the world is veering strongly towards transacting with cryptocurrencies and digital wallets. As a result, there is a need for exchange platforms that can aid users in carrying out their transactions safely and swiftly. Even though these platforms are necessary in today’s world, certain criteria should be considered before choosing an exchange to transact with. This is because the crypto market is a highly volatile one with several risks involved in trading. A wrong choice of a trading platform can lead to bad trading options and outcomes which eventually would result in monetary loss. To avoid such misfortune, investors should choose an exchange wisely especially novices in the crypto world.
One significant feature to look out for in a crypto exchange is regulation. Regulation involves registering with a regulatory body which is often a government-owned agency, and abiding by the restrictions and regulations which they prescribe. This implies that a regulated crypto trading platform is subject to the rules and restrictions set by a certain regulatory body and therefore its activities and modes of operations are guided by these regulations. Before a trading platform becomes regulated, it must have undergone certain processes, some of which include staying in business for a given period and submitting certain legal documents to the regulatory body. A regulated crypto exchange is therefore seen as a credible platform as they operate under certain rules and restrictions.
Within this review, we shall be providing relevant information that will be essential in improving your knowledge about this regulated crypto platform known as CrossTower exchange.
|Trading platform payments||Bank transfer, credit or debit cards, crypto wallets.|
|Customer support||Support center, Twitter, Email, LinkedIn.|
What is CrossTower Exchange?
CrossTower is a U.S.-based crypto exchange that was set up in 2020. The platform is set at providing a safe and reliable crypto trading environment for its customers. Among other competitive platforms, CrossTower stands out because of the attractive and new offers it gives to its old and new customers. Being a trading platform with multiple assets, it maintains the generally accepted trading standard, making investors trust the platform and carry out their exchanges without any fear of loss. The firm has set up risk management tools by using blockchain technology, thereby giving favorable trading alternatives in cryptocurrencies to its investors. This distinct feature has created an attraction for many investors and traders to their website.
The goal of this platform is to establish an environment where investors can trade conveniently, comfortably, and still make maximum profit. Thus individuals are encouraged to trade more as the platform offers a variety of cryptocurrencies to choose from thereby increasing users’ chances of market success. One key factor which has contributed to the rapid success and acceptance of this platform is its focus on cryptocurrency as it helps investors to be intentional and specific when making investments.
Another distinct feature of this exchange is the speed with which it handles crypto transactions and token exchanges. According to official reports, the platform can handle as much as ten thousand coin exchanges in a few seconds thus establishing it as a secure liquidity provider. This transaction handling speed also makes it a great destination for traders from all over the world. As customer satisfaction is a major aim of the platform, it provides offers that are beneficial to users and keeps investors up-to-date as regards tokens and their market prices thus giving them an edge while trading.
Exchange Trading Services
This trading platform offers several services to both individual investors and institutions as it incorporates both parties conveniently offering a guarantee of premium satisfaction. The first and basic service is the establishment of an avenue to buy and sell crypto tokens in an environment that is safe and secure. This avenue is designed in such a way that investors can easily and conveniently trade crypto from anywhere in the world thereby meeting their financial needs. In addition to this, there is also a referral program that rewards its users for inviting new users to the platform. The reward for this involves you earning about 25% of the fees generated by their trading account for as long as the account is operational.
For institutions, the platform reserves special large structured investment plans, most of which are often long-term programs. This way financial institutions can channel their resources into such investments that would be beneficial in the long run. The exchange also offers borrowing and lending options to large institutions. These options come with a flexible means of repayment and settlement so as to encourage firms to realise profit to a certain extent. There are however certain requirements to be met by institutions that are interested in utilizing these options. Trading on this exchange however is tailored to meet the satisfaction of all users whether individuals or institutions and this largely contributes to the increasing customer base which the platform is currently attracting.
How to Trade on CrossTower
CrossTower takes to the importance the satisfaction of its customers and has earned itself a massive level of patronage. Currently, it has made establishments in India, and it plans to make every trading process easy and more engaging for its customers so that they can enjoy a seamless trading experience. However, to make transactions on this platform, the prerequisite is being a registered user, as only registered members are eligible for the exciting offers the platform provides.
Due to the essential need for user safety and platform security, many exchanges usually set up a cumbersome process and requirements for registration. The processes make prospective investors go for decentralized platforms because they have simpler registration processes. However, on CrossTower, the registration process is straightforward, with a few simple steps.
The first step is downloading the CrossTower application from the Google play store or App store to begin the signup process. The sign-up process can also be done on their website, as it depends on individual preferences. During sign-up, information like your personal details, valid email address, valid mobile number, documents for KYC, and a CrossTower Referral ID. Once all these processes are completed, your account becomes active immediately. On activation of your CrossTower account, you will be able to access various trading features and offers. The firm is currently running a referral program for every existing user.
Before starting any transaction, it is advised to understand the kinds of orders they offer, the compensations given to investors, and other information that would be beneficial in the long run. On the platform, you will find different features like trading interfaces that can be customized and various kinds of orders. On your account, you will find your order book that shows the information on previous orders you have made. This makes it easy to monitor the trades you have made on the portal.
CrossTower Withdrawal and Deposit Fees
Every time you make an order, the exchange charges a fee, a percentage of your transaction value. Usually, exchanges differentiate between takers and makers. Takers are users who take existing orders from the order book, while Makers add orders to the order book—as a result, making liquidity at the exchange platform. On CrossTower, takers are not charged any fee. However, makers pay a token of 0.055 for every order. This fee-charging system is quite unlike the usual trading standard, which has it that takers pay more charges than makers.
The 0.00% charged for takers and 0.05% charged for makers are relatively lower than the worldwide industry standard for centralized exchanges. Generally and over the years, other exchanges have had an average of 0.20% to 0.25%. However, in recent times, it has been observed that exchanges take fees ranging between 0.1% and 0.15%. According to recent primary studies, it was discovered that average taker charges were 0.125%, and average maker charges were 0.162% for spot trades. Withdrawal charges vary from one cryptocurrency to another. For instance, the average BTC withdrawal charge is 0.00059BTC per withdrawal in the general industry. But CrossTower charges 0.0004BTC for every withdrawal.
Apart from the minor trading charges on CrossTower, users can benefit from discounts on trading charges if they can attain a particular trading limit after 30 days. For makers, in this case, their charges can be as low as 0.01%. This discount level can only be achieved by users who make trades accumulating up to 100 BTC within 30 days. Of course, this trading limit can hardly be met by many users, so it is only meant for a few numbers. These low trade charges make CrossTower stand out among its competitors.
How Secure is CrossTower
As a firm that deals in digital assets, it is very concerned about the security of its users and itself. It is expected that the firm has the safety of its users at keen interest, as it helps them maintain old customers and attract prospects.
CrossTower has a very secure hosting environment, with a data center that conforms to ISO 27001 and is SOC-2 Type-II. They have very efficient experts in cybersecurity that critically observe and scrutinize every process. The exchange platform also conforms to PCI and works with every protocol established by the governing bodies that oversee them.
When a new user gets registered, two-factor authentication is issued to give double security to the account. With this feature, only the user can access his account, except personal account information was disclosed to a hacker. To avoid scams, the exchange platform makes sure that no other party except itself can send authenticated links and URLs to emails of users, using the domain name “crosstower.in”.
For in-activity security, the platform makes use of harsh maps on every individual transaction. With this, a token key is created for every user to protect their accounts and transactions. With all these features, users can be sure of complete safety. Users can also make use of cold wallets for better security.
Cryptocurrencies Supported on CrossTower
CrossTower supports various currencies with either Bitcoin or Etherum-based pairs. However, the most popular cryptocurrencies on the platform are Bitcoin (BTC), Etherum (ETH), USD Coin (USDC), and Stellar (XLM).
BTC, which is regarded as the first cryptocurrency, was created by Satoshi Nakamoto and has continuously made grounds to make traditional banking less efficient. It is the first digital asset to support blockchain technology, thereby raising its security level. Etherum, which has been inching towards BTC, is widely known for supporting smart contracts. It takes the place of go-betweens in transactions, making digital exchanges seamless and quick.
USDC is a non-volatile coin that has maintained a grid line of $1.00. It has been designed to be a link between fiat currencies and cryptocurrencies. It gives minimal charges on transactions. Stellar is a meeting point for currencies that want to trade seamlessly and efficiently.
The user interface is a factor that is looked into diligently, as it determines if users will stay on or leave the platform. Some interfaces relay an excellent level of high standards and expertise, and they are designed for professionals who are used to such complexities. On the other hand, some interfaces relay simplicity, as they have every user, ranging from novices to veterans at interest. The platform’s user interface is relatively easy to use and understand. It makes sure that all its users, especially novices, experience utmost comfort when making transactions. This easy-to-use feature has contributed significantly to its popularity and relevance.
Apart from being easy to use, the platform offers news articles relating to cryptocurrencies and their markets. They also give articles on how to go about some activities on the platform, serving as a guide to anyone confused. It proves to investors that the platform is interested in making them have a good user experience. In addition to this, this trading firm is also available and compatible with smartphones and mobile phones. Even though most investors argue that desktop trading is the most rewarding and beneficial form of trading, there are those categories of crypto lovers who prefer using mobile phones. For these sets of people, the platform’s mobile application is just the perfect choice for them as it allows for easy trading and is available for download on AppleStore and Google Playstore.
Every platform is meant to have a healthy and unique relationship with its users. CrossTower takes its customers as a priority and makes sure to meet every need and resolve every complaint they tender as soon as possible.
To achieve this, they have different active social media handles where they directly receive and reply to messages. It aids the growth of the platform. Users give reviews and feedback through these media, and the platform continuously puts efforts into meeting the expectations of the users. The users, in turn, feel important as their time spent on the platform is not regarded as a waste.
- · Support Center
The support center feature lets users submit their complaints while using the platform. It also helps in resolving issues that erupt during transaction processes. Through this feature, users receive feedback on how their platform performs and get a better user experience.
The firm’s Twitter handle is used for making announcements and relaying relevant information to its Twitter users and every other person who might need them. By this, traders and investors will be kept abreast of new developments.
Their LinkedIn profile serves as an online portfolio to showcase their services, employee strength, and job listings whenever available. On the platform, they also give news articles that are related to cryptocurrencies and exchange.
CrossTower makes use of its email address for receiving complaints and reviews from its users. It also uses the medium to send newsletters to its users, keeping them updated on recent trends, offers, updated features, market commentaries, and other relevant information.
Despite many existing crypto exchanges, CrossTower stands out as an exceptional exchange at meeting users’ needs and giving them a unique trading experience. It is a regulated body that is governed by the jurisdictions under which it operates. Since it is regulated, it can be speculated that it will have a long life span. Therefore, users have an assurance of safety.
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