Review 2022: Unclear Insurance Coverage Means Crypto Investors Should Pass on This Exchange

Image to accompany review of cryptocurrency exchange
We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. has been around since 2011, making it one of the oldest cryptocurrency exchanges on the market. 

The exchange also holds the distinction of being the “exclusive digital asset partner” of the Dallas Cowboys in what was reportedly the NFL’s first partnership with a digital currency platform. The exchange touts 37 million users and more than $1 trillion in total transactions. 

As with many other leading cryptocurrency exchanges, uses a maker/taker model for trading currency pairs. However, is only fully available in 40 states, and there is no mention of insurance coverage for your crypto or for U.S. dollar funds on the exchange’s website. A spokesperson for contacted us after this review was initially published to say the exchange does insure fiat balances and offers FDIC insurance for U.S. dollar funds. But this coverage is not mentioned anywhere on the website, and this lack of clarity is a major disadvantage compared to the clear and transparent coverage offered by what we consider to be the best crypto exchanges.

Most crypto investors — and especially beginners — will be better off choosing another mainstream exchange like Coinbase, Gemini, or eToro. But if you are considering, here’s some more information worth considering.

Before You Start

No matter where you buy it, cryptocurrency is a highly volatile, speculative investment. Only invest in crypto what you’re prepared to lose, and make sure you have other financial priorities in place first: save money in an emergency fund, contribute to retirement savings, and pay off any high-interest debt balances.

Pros and Cons of


  • Two wallet options, including a non-custodial wallet

  • Staking and other ways to earn rewards

  • Airdrop program to receive free crypto coins


  • Unclear insurance for crypto or U.S. dollars held on the platform

  • Limited availability in the United States

  • Limited customer support At a Glance

  • Centralized, although there are some decentralized features, like the non-custodial wallet
  • 120 currency pairs
  • Tiered maker/taker model, up to 0.40%
  • Keep coins on exchange or move into your own wallet
  • No native token
  • Fully available in 30 states
  • Mobile app
  • Limited customer service support

Cryptocurrencies Available on says it supports 120 cryptocurrency pairs. However, it’s important to note that those pairs include duplicates. For example, there’s a pair for Bitcoin and the U.S. dollar, as well as a pair for Bitcoin and the euro. In terms of total available cryptocurrencies, there are 45+ individual coins on the exchange. allows for trades with three fiat currencies, including the U.S. dollar, euro and Great Britain pound. 

Some of the popular cryptocurrencies available include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Apecoin (APE)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Solana (SOL)
  • Uniswap (UNI)
  • Tether (USDT) Fees

There are different fees associated with, depending on how much you trade and your various goals. Here are some of the fees you can expect to pay.

Spot trading fees uses a tiered maker/taker model for its spot trading fees. In this model, you’re either a maker or a taker for the purposes of the trade. Here’s what that means:

  • Maker: Sets specific parameters for the trade, indicating a price at which they want to buy or sell. The order goes “on the books” and contributes to the liquidity of the exchange. When someone on the other side of the trade meets the conditions, the order is executed.
  • Taker: This is someone who has an order executed immediately at market price. 

With the tiered model, the greater your trading volume every 30 days, the lower your fee. has its highest fee set at 0.40% for takers. The highest fee for makers is 0.20%.

Margin Trading offers margin trading, which allows you to borrow in order to trade more. The margin trading fee is 0.02%. There’s also a margin recurring fee of 0.02% every four hours. 

Deposit and Withdrawal Fees

There are no deposit fees to add fiat funds to a account. Additionally, in the United States, there’s no withdrawal fee to use an ACH transfer to move your money from your account to your bank account. There is a $10 minimum to withdraw, however.

Transfer Fees

Finally, there will be a transfer fee if you move your coins from the exchange to an external wallet. This includes when you transfer using your Blockchain non-custodial wallet. The fees are based on the network you use. Different networks have different fees and minimums. However, you’ll be able to see the fees ahead of time, and the Blockchain wallet recommends fees based on the network and the current conditions. Security claims to use a high degree of security for both the exchange and the wallet. This includes storing 95% of funds in offline cold wallets, which offers extra protection against hacks and cyber theft, since these funds aren’t connected to the internet. 

Additionally, a multi-signature validation process is used to prevent unauthorized access to users’ funds. If you use the non-custodial wallet, your private keys mean you control and own your crypto, and doesn’t keep track of that info. also offers a bug bounty program that’s designed to help fix flaws in the system. supports two-factor authentication if you want to withdraw crypto funds to a wallet. This layer of protection can help you reduce the chances that someone will fraudulently withdraw from your wallet.

However, it’s important to note that there isn’t information on the website about FDIC insurance for U.S. dollar fiat funds. Additionally, there isn’t any other available information about an insurance program to protect users from theft. Cryptocurrency funds aren’t covered by SIPC insurance. 

Since cryptocurrency is largely unregulated, investors face additional risks compared to the stock market or a regular savings account. But unlike, other mainstream cryptocurrency exchanges offer specific insurance coverage for crypto users who use their platforms. While these exchanges might offer higher fees, experts say it can be a worthwhile expense to keep your investments safe.

Additional Details doesn’t have some of the same additional products and services that other cryptocurrency exchanges have. For example, you won’t get access to credit or debit cards, or an NFT marketplace with There is a NFT marketplace beta wait list on the exchange’s site, but no word on when it might go live. However, there are some extra features that can be useful to some traders.

Private Key Wallet

While you can keep your coins on the exchange, also offers a non-custodial wallet. The Private Key Wallet allows you to buy, sell and swap cryptocurrencies without a lot of effort. This wallet is available on your phone and puts you in control of your crypto. 

Rewards offers a rewards program, which is basically a way to stake your cryptocurrency. Depending on the cryptocurrency, you can earn up to 11% when you keep the coins in your rewards account. Interest on coins accrues daily and is paid out monthly. You’re allowed to withdraw crypto from your rewards account after seven business days. 

It’s worth noting you’ll need to upgrade to a Gold account to access rewards, which doesn’t cost money but does require sharing a government-issued ID or passport.

Margin Trading

If you have enabled margin trading, you can choose to trade at 2X or 5X leverage. It’s important to note that margin trading can potentially magnify your losses as well as magnify your gains. Additionally, a margin call can result in the need to adjust your collateral or risk seeing some of your current collateral sold. Most casual and beginner crypto investors would be wise to steer clear of margin trading, but it is available for those who feel comfortable taking on more risk.

Airdrop occasionally distributes crypto coins to wallets worldwide in what is known as an airdrop. An airdrop is designed to let you try out a new coin and test how it works. In order to receive an Airdrop, you must have a Gold account.


With’s Explorer tool, it’s possible to see real-time prices and also see what’s going on in various areas of the blockchain. You can see when blocks are added to a chain, the hashrate and information about how much business is being transacted on a specific blockchain. It’s also possible to see what conversations are going on around the crypto world. While it can be a bit overwhelming to casual or beginner investor, it does provide an in-depthlook into the cryptocurrency environment with lots of data and information.

Customer support

Customer support services are relatively limited. You can use the search function to look for information, and support is divided by Wallet and Exchange. However, there isn’t a way to call a phone number or use live chat. Instead, if you can’t find what you’re looking for in the support articles, you need to submit a request through a form. We submitted a request for additional information but didn’t hear back.


It’s important to note that has limited availability in the United States. You can only use the exchange in 30 states. The states that aren’t available include:

  • Connecticut
  • Delaware
  • Georgia
  • Hawaii
  • Iowa
  • Louisiana
  • Maine
  • Nebraska
  • Nevada
  • New Jersey
  • New York
  • North Carolina
  • North Dakota
  • Oklahoma
  • Rhode Island
  • South Dakota
  • Tennessee
  • Texas
  • Virginia
  • Wyoming

Who Is Best For? isn’t the best fit for beginner or casual crypto investors, who we think would be better off with a mainstream exchange like Coinbase, eToro, or Gemini. It may be suitable for more knowledgeable crypto investors and traders who are familiar with complex or higher-risk features offered by the platform.

How to Open an Account with

You can get started with by providing an email address, password and country of origin. Later, you’ll need to verify your email address. If you already have a wallet, you can connect it to your account. In order to increase your trading limit, however, you need to unlock the Verified Level. You also need the Verified Level if you want to make fiat currency deposits. Otherwise, you can only use crypto you already have to deposit on the exchange. Compared to Other Exchanges

Coins45+ cryptocurrencies250+ cryptocurrencies150+ cryptocurrencies
FeesUp to 0.40%Up to 0.40%, with discounts when you use CROUp to 0.60%
Wallet StorageOn the exchange, in the Private Key Wallet, or transfer to your own walletOn the exchange, in the Wallet, or transfer to your own walletOn the exchange, in the Coinbase Wallet or transfer to your own wallet
Minimum TradeEqual to the smallest amount of each coin that can be tradedEqual to the smallest amount of each coin that can be traded(about 0.0003 BTC)$2

Frequently Asked Questions

Can you withdraw crypto from

You can withdraw crypto from by going to the withdraw tab and sending the crypto to the appropriate wallet address. If you have a wallet that’s already connected, this process is fairly simply, allowing to simply designate that wallet. Otherwise, you will need your wallet address to send the crypto. You will also need to enter your two-factor authentication to withdraw.

Is a trusted company? is registered with NMLS Consumer Access. However, even though it is considered relatively safe, it doesn’t mention FDIC insurance for U.S. dollar fiat funds held on its site. It’s important to note that no crypto assets are covered by FDIC insurance or SIPC insurance. So, while has been around since 2011, there is no guarantee of your funds if the company does fail.

Does control my wallet? can store your crypto on its exchange, where it holds your funds. However, there is also a Private Key Wallet that is non-custodial. When you use the non-custodial wallet, doesn’t have access to your wallet and doesn’t track your funds.