Cryptocurrencies are taking over the world in an incredible way. If you have not heard of them then you are probably living under a rock. There has been so much buzz especially about bitcoins given the astronomical rise in value, especially in the last two years.
If you want to learn about bitcoins you can see my bitcoin for beginner’s course on this link.
If you know about bitcoins and other cryptocurrencies like Ethereum then you will know of the need for exchanges. These exchanges allow you to buy and sell cryptos easily.
There are many exchanges out there and finding the right one may be a challenge, especially if you are just starting out with cryptocurrencies.
In this article, I will review one of the exchanges I have been using for a couple of years now.
Spectro coin is a fully functional exchange, wallets, and payment processing platform with 50 employees, more than 650,000 users (individuals and merchants). To date, Spectro Coin has issued 65,000 cards and has all the necessary IT infrastructure.
Spectro Coin allows you to buy and sell cryptocurrencies easily. Spectro coin makes the link between fiat and cryptocurrencies smooth. You can easily deposit and withdraw your funds using 20 payment methods which you can see in the image below.
The site has a very simple and user-friendly layout which makes it simple to find everything you need right in front of you.There is also a bitcoin price chart on the website which makes it easy for you to trace the price of bitcoins.
Spectro coin is located in the United Kingdom and has been operating for almost 5 years under EU regulations. Currently, Spectro Coin has a client base of over 650,000 and 5,000+ merchants.
One of the biggest advantages of Spectro Coin is the fact that you can apply for a Prepaid card that allows you to cash out your bitcoin and access your funds at ATMs around the world.
You can have either a physical or virtual card. You can use the virtual card to do your transactions online.
The physical Spectro coin card is shipped to any country. Normal shipping is free and the card arrives in 3-4 weeks. If you want to speed up the shipping, for an extra fee of $75/69/£50 the expedited shipping option is available. In this case, you get the card in 4-5 days.
You can use your Spectro Coin to store a number of cryptocurrencies including bitcoin, Ethereum, dash and Bankera tokens.
The company also provides a solution for merchants so they can accept bitcoin through their business activities. In order to make the integration as easy as possible for everyone besides an API, Spectro coin provides eCommerce plugins and Libraries for merchants and for the wallet.
So, if you have a business and you want to start accepting bitcoins, you can use Spectro Coin and the bitcoins will go directly to your wallet when people pay you.
You can also download the Spectro Coin app to your phone and access your account on the go.
To protect your funds, Spectro Coin asks you to verify ownership of your account. You can provide a valid passport or ID card and a utility bill.
After verifying your account, you can load your Spectro coin card with maximum 10000 USD at once. Spectro Coin allows a maximum of 2 ATM
transactions per day with a limit of 2000 USD. There is no limit for POS usage.
Verifying your card allows you to receive funds from third-party merchants like PayPal and Gambling sites. If you receive funds in an unverified card, these funds are blocked until the card is being verified. This is done to adhere to regulations and to protect your funds.
You can also user Spectro coin services without verification but then you will be exposed certain limits. The maximum top-up amount is only 2500 USD. At ATMs unverified users are only able to withdraw 200 USD at a single time, 400 USD daily from maximum from 2 transactions.
The total ATM withdrawal limit for unverified users is 1000 USD. Shopping online or paying at POS is unlimited even if your account is unverified.
The total ATM withdrawal limit for unverified users is 1000 USD. SHopping online or paying at POS is unlimited even if your account is unverified.
Spectro Coin Fees
Spectro Coins fees are very reasonable and you can see them below.
Spectro Coin and Bankera
Spectro Coin has diversified into opening a blockchain bank called Bankera which will even allow it to serve its clients better. Bankera will be a bank that will support both fiat and cryptocurrencies.
Bankera is currently running its ICO and you can also buy tokens and benefit from the transactional revenue. Token holders are paid 20% of the weekly transaction value as commission.
You can learn about Bankera here.
I have been using Spectro Coin for about two years now and I have not had any problems with them. I have seen some people complain but I have not had a reason to complain as yet.