The Rock Trading Review
The crypto market is filled with many opportunities and is large enough to accommodate various kinds of traders. However, these opportunities that present themselves in the crypto market do not come without their risks and even with these risks many still venture into the crypto market to take advantage of the available opportunities.
For investors to be able to have access to the crypto world to trade various digital coins, the need for a crypto exchange platform such as The Rock Trading exchange becomes vital. This is because exchange platforms are gateways into the crypto market enabling traders to store, sell and buy various cryptocurrencies.
Out of the many exchanges in the crypto market, we will be talking about one of the oldest and experienced exchange platforms in Europe which goes by The Rock Trading exchange. This is The Rock Trading exchange review and we’ll be discussing its primary features, benefits, and services it offers to investors and traders across Europe.
|Exchange Platform||The Rock Trading|
|Security||Secure Socket Layout (SSL) encryption technology, elastic multi-stage wallet, GreenAddress’ security techniques, Two-factor authentication system (2FA)|
|Trading platform||Web-based platform and mobile app|
|Payment method||Cryptocurrency wallets, Bank Wire Transfer, OKPay eWallet, and Prepaid Card.|
|Trading assets||Bitcoin, Litecoin, Ethers, Peercoin, Zcash, and Ripple|
The Rock Trading exchange was initially founded in 2007 to serve as a digital insurance company but later re-strategized and changed direction in 2011 to become one of the first crypto exchange platforms in the crypto industry. The Rock Trading exchange is a fully legislated and regulated fiat-to-crypto exchange that provides Bitcoin trading services to investors and traders across the globe.
The exchange platform was established by Davide Barbieri (CTO) and Andrea Medri (CFO) – two renowned crypto professionals and entrepreneurs in the Italian crypto community. They both oversee and govern the overall trading services and products offered by The Rock Trading exchange to investors in the crypto market from its headquarters which is based in La Valletta, Malta.
The primary goal of The Rock Trading exchange is to ensure that the world of cryptocurrency is easily accessible to the European market allowing investors and traders based in Europe to trade various digital coins smoothly and easily. Since the establishment of The Rock Trading exchange, it has continued to evolve and improve its trading services offering a wide range of customer-oriented products and services like dark pools, conditional, market, and limit offers.
Being a decent customer-oriented exchange platform, the team behind The Rock Trading exchange primarily focuses on providing a credible and reliable fiat to the crypto gateway and a safe trading atmosphere to its clients all over the world. The Rock Trading exchange also fully supports and integrates the GreenAddress’ instant deposits; Legacy, Bech32, Liquid, Multisig, and Segwit technology to better serve its clients.
Now, let’s look into the primary features and services of The Rock Trading exchange to have a clearer picture of its competitive advantages and unique offerings it offers traders and investors in the crypto industry.
Registration and Verification of Account
Signing up for an account with The Rock Trading exchange is quite simple and straightforward. The first step is to visit the exchange’s website where you will see the “Register” button – click on it to begin registration.
A registration page is loaded and you will be required to input your email, username, and password. Once you’ve inputted the necessary details, you accept the terms and conditions then click on the “Sign up” button. After signing up, an email will be sent to the email address provided so you can confirm and verify your email address, then you’re ready to go!!
Please note that The Rock Trading exchange does not accept US citizens to trade on the platform due to certain regulations from the Securities and Exchange Commission (SEC) that prevent offshore exchanges from operating within the states.
After the registration process, the next step is to verify your account. Without verifying your account, you will be unable to trade, withdraw or deposit funds with the account. To verify your account, you will be asked to submit some means of identification so that the exchange can put a face to the trading account.
The Rock Trading exchange requires different documents from EU and non-EU residents for the verification of trading accounts. For means of identification, EU residents are required to submit proof of identity (government-issued ID or passport) with a minimum of 6 months validity with your birth city written on it. Non- EU residents are required to submit proof of identity (government-issued ID or passport) with a minimum of 6 months validity. For proof of residence, both EU and Non-EU residents must submit a proof of residence be it a utility bill, bank statement or any similar document with your residential address printed boldly on it.
All these documents (both front and back) are to be uploaded on the exchange’s website and must be colored. After uploading the required documents, the exchange will look into their validity which takes about 2 working days to process and approve. After approval, you can then make use of your account to trade, deposit and withdraw various digital coins.
The news of various fraudulent activities including several cyberattacks and hacks continues to fill the air in the crypto industry. And these cyberattacks are continuing to become widespread, causing a menace to both investors and exchange platforms in the industry.
Many traders and investors have lost their investment funds and many exchanges’ trading activities have been halted as a result of these hacks. Owing to this reality, traders, investors, and exchange platforms now deem the security of funds and personal sensitive data as serious business.
As a newbie entering into the crypto market, you cannot afford to compromise security for any other seemingly great offering. Hence, you much choose an exchange platform that has established and incorporated the latest and advanced security measures within its security system. And one such exchange that has been able to do that effortlessly is The Rock Trading exchange.
The Rock Trading exchange is well recognized for its security protocols and measures it has put in place to secure and safeguard the investment funds and personal data of its clients. And being one the oldest exchanges in the industry, it has vast experience on how to adequately secure and safeguard clients’ investments.
For solid security, The Rock Trading makes use of a two-factor authentication system (2FA) (which is the primary security measure used by most exchanges), Secure Socket Layout (SSL) encryption technology, elastic multi-stage wallet, GreenAddress’ security techniques, and in full compliance with the Know Your Customer (KYC), and Anti Money Laundry (AML) policies.
- Elastic multi-stage wallet
The Rock Trading exchange makes use of an elastic multi-stage wallet technique to ensure the safety and security of 80-90% of its clients’ crypto assets. These assets are kept and stored in cold wallets safeguarded in offline locations. However, the remaining crypto asset is stored in hot wallets to facilitate the smooth running of the exchange allowing investors and traders to excite trades and be able to receive funds when requested.
- Secure Socket Layout (SSL)
The Rock Trading exchange integrates one of the latest encryption technologies to protect its database from hacks. The exchange platform makes use of the Secure Socket Layer to protect its security communication systems such that any threat or breach is quickly and easily detected and automatically reported ensuring appropriate actions are taken promptly to secure clients’ personal data.
- Two-Factor Authentication (2FA)
The Rock Trading exchange incorporates the 2FA to offer double-layer security to its clients’ trading accounts. The Two-Factor Authentication offers additional security to investors’ trading accounts in the case where clients’ login details get compromised. The Rock Trading exchange advice its clients to activate the 2FA to restrict unauthorized logins to their trading accounts
The Rock Trading exchange isn’t a one-stop-shop for all digital coins. The exchange platform primarily focuses on the major cryptocurrencies in the crypto market while also listing one or two altcoins. The digital coins listed on the exchange platform include; Bitcoin, Litecoin, Ethers, Peercoin, Zcash, and Ripple. These digital coins are traded in pairs with both fiat currencies and one other. The trading pairs include;
- Litecoins with EURO
- Litecoins with Bitcoins
- Bitcoin Cash with Bitcoin Core
- Bitcoins with XRP
- Bitcoins with EURO
- Ethers with EURO
- Ethers with BTC
- ETH with NokuEUR
- BTC with NokuEUR
- Peercoins with EURO
- Peercoins with Bitcoins
- EURO with XRP
- EURO with NokuEUR
- Zcashes with EURO
- Zcashes with Bitcoin
A vital feature one must always evaluate before choosing an exchange is the trading platform being offered. The trading platform is arguably the most crucial feature exchange platforms offer its clients in the sense that it is the algorithm that governs and oversees the overall trading activities carried out on exchanges.
These trading activities range from trade executions to withdraws, deposits, trade analysis, use of various tools and indicators, and many more. This implies that for a trader to enjoy and have a decent trading experience, the trading platform to be used must be adequate and up to standard to enable these trading activities. Therefore, as an investor (both newbie and experienced) in the crypto market, choosing an exchange platform with a decent trading platform is necessary if you want to have a great trading experience.
As you may expect, exchanges offer different types of trading platforms to investors and traders. This is because exchanges prioritize different components of a trading platform over another. These differences generally are in terms of design, theme, interface, authorization, and lots more. But, irrespective of the differences, a decent exchange platform is believed to be adequate enough to offer a simple interface, be user-friendly and provide smooth trading services, with easy navigation.
Being a customer-oriented exchange platform, The Rock Trading offers its clients an excellent trading platform to foster a remarkable trading experience. The Rock Trading exchange offers both a mobile trading app and a web-based platform to its clients so they can choose one that is suitable for their trading condition.
The mobile trading app and web-based platform are very intuitive, having simple designs and simple to steer by professionals and newbie traders. The trading view of the Tokenize trading platform incorporates the expected components of exchange in the crypto market. It comprises several price charts, buys and sell-boxes, order books, order history, and so on.
The mobile app designed by The Rock Trading exchange is only supported by Android OS. It is available for download worldwide on the Google Play Store.
Commissions and Fees
Trading activities performed by investors in the cryptocurrency market are not free. Exchanges charge specific fees on various transactions carried out by traders on their trading platform and The Rock Trading exchange is not different.
- Trading Fee
The Rock Trading exchange makes use of the “flat rate” structure for its trading fee. This implies that it charges the same fee for both its makers fee and takers fee. The exchange charges a flat rate trading fee of 0.20% which corresponds with the industry’s average marked around 0.20% – 0.25%. It is important to also note that for specific trading pairs, the exchange platform charges a trading fee as low a 0.02%
- Withdrawal Fee
The Rock Trading exchange charges varied fees on withdrawals depending on the payment method used for the transaction. For crypto transfer, the exchange charges 0.0005BTC on every Bitcoin withdrawal (priority), 0.0005 BCH on Bitcoin Cash withdrawals, 0.0001 ETH on Ether withdrawals, 0.002 LTC on Litecoin withdrawals, 0.02 PPC on Peercoin withdrawals, and 0.05% on Ripple withdrawals.
For wire transfer using SEPA, withdrawals less than €1000 attract a fee of €1.5. For withdrawals more than €1000, €2.5 is charged. For non-SEPA wire transfer, a minimum withdrawal fee of €25 or 0.15%is charged.
Withdrawals and Deposits
After successful registration and verification of the trading account, what comes next is the deposit of investment capital. With this deposit, investors and traders get to access the cryptocurrency world to trade their preferred digital coins. Furthermore, since the aim of venturing into the cryptocurrency market is to earn profits, there’s also the need for investors to be able to withdraw their profits whenever needed.
To this end, exchanges offer a range of payment methods to their clients so they can choose one that best suits their situation to withdraw or deposit funds. The Rock Trading also follows this model and offers its clients various payment methods for depositing and withdrawing funds. These methods include; Cryptocurrency wallets, Bank Wire Transfer, OKPay eWallet, and Prepaid Card.
- Bank Wire Transfer
Clients of The Rock Trading exchange can use wire transfers to deposit or withdraw the Euro and U.S dollars. The transfer is done via the efficient and credible Single Euro Payments Area (SEPA). Wire transfer using SEPA takes about 3 working days to get processed and approved.
- Prepaid Card
All verified clients of The Rock Trading exchange are eligible to apply for a prepaid card offered by Rock Trading. The prepaid card can be used to withdraw funds directly from ATMs that are in partnership with Rock Trading.
- Cryptocurrency Wallets
The Rock Trading exchange allows clients to withdraw and deposit various crypto assets in and out of their crypto wallets from and into an external crypto wallet.
Another important feature traders evaluate when choosing an exchange is the customer support provided by such an exchange. Trading in the crypto market is a difficult task itself, therefore investors and traders require all the assistance they can get when trading. Most importantly, this assistance is especially needed when unforeseen circumstances arise making trading a more difficult task.
In times like this, traders and investors look to rely on the support of their exchange platform, and failure to get such support is detrimental to the trading outcome and experience of traders. The negligence of such an exchange platform to provide the required support and assistance to meet up the needs of traders defeats the significance of such an exchange.
For The Rock Trading exchange, it offers impressive customer support to its clients making sure they have all the required assistance to navigate the crypto market. The exchange platform provides an FAQ section answering all the commonly asked questions by newbie investors.
Customers can also reach out to support agents via telegram chat, live chat, and email to love their complaints and requests. The support agents are friendly, diligent, and ready to offer the needed assistance 24 hours a day, and 7 days a week.
This comprehensive review has made apparent how incredible The Rock Trading exchange is and one can see its impressive features and products that attract various investors across the globe to trade with this exchange platform. The security measures, competitive fees,s, and highly intuitive trading platform give it an edge over other exchanges in the crypto market.
Also, considering the vast experience accumulated by The Rock Trading exchange over the years, they know what’s best for both newbie and experienced traders in the crypto market and are always ready to offer a helping hand during difficult situations. The Rock Trading exchange is one of the best crypto exchanges investors can partner with within the crypto market.