Hey, Hivers, how's you day so far? It felt so nice to see Hive go above the psychological value of USD 0.5 today, right?
Perhaps it is a time to increase the diversity of your fin-resources?
Let me start that recently I was hugely disappointed by Huobi and I decided for myself that I am never ever using their services. My friendly unwanted advice is to be extremely careful if you operate there. I won't say more as I try to forget all the bad things that happen to me ASAP.
So I am sharing with you its Pros and Cons as of today, based entirely on my point of view.
This Exchange is available for citizens of EEC (the European Economic Community) only.
I am putting that outside of the Pros/Cons list so you can decide for yourself whether you want to read this any further.
Some screens:
Its design is very clean and pleasant to work with:
That's the Dashboard, the entry point:
The transaction history with options to see more details and download:
The top menu navigation with the current services:
The verification options and report:
Of course, clicking on Advanced brings on a familiar buy/sell screen but you are not obligated to trade with it, their simple version also follows that pleasant and clean design and so far I used it more than the advanced version.
The "simple" form:
Now here are the promised two lists:
Pros:
The easiest and quickest KYC
Staking - if you are familiar with "Flexible Savings" from Binance, that the same earning opportunity. However, it is better than Binance in two ways - there isn't any action required to be done like applying or subscribing, etc. Only turning that feature globally once. Then each coin that is included in their staking program starts earning from the moment it enters your wallet. Dividends are paid once a week. The second advantage to Binance are the slightly better "interest rates". I compared several coins including USDT, BCH, LTC. For instance, today the % for Binance is 6.00, while for Bitvavo it is 6.10%
FIAT deposits are fee free. Some EU banks block all SEPA transfers to exchanges so for the Europeans iDeal is the next option with the best fee. For Binance, there is a constant EUR 1.30 deposit fee while for Bitvavo it is zero, EUR 0.00. Be careful if you have many EUR IBANs as the first one you use to deposit becomes your registered bank address.
API for those who are in auto-bot-trading ;)
Cons:
Some transfers require more network confirmations. For instance for BCH it waits for 15. To be honest I am not sure this is a disadvantage. Just a trade off security/speed, right?
I didn't find an option to show coin prices in USD, all are shown in EUR, so it's a bit harder to compare when you're in a hurry
No mobile app yet. Again, I am not exactly sure that is a "Con". I believe mobile exchange apps are a huge risk, as with them everything is stored at the same place - the access to the e-mail for confirmations, the 2FA app and the wallet at the same time. So I actually like the fact they don't have a mobile app as I feel better secured! ** EDIT, thanks to @tonyz! There is a mobile app for Android and iOS, check first if your device is compatible as my Huawei isn't! That's why it wasn't showing when I searched for it in my Google Play. **
I love my eyes so I would love to see a dark skin implemented :)
The last but not least Con is they don't support Hive yet. Do you have an idea how it could be added? Or do you know who could help with that? Thanks in advance :)
Thanks for dropping by, please comment below and if you find this article useful, please use my referral, at the moment I would have 15% of my referees trading fees if you decide to support me: https://bitvavo.com/?a=8BD90E2321 Yup, not much, but it's a great way to say "Thank you" :)
All images are actual screenshots with private info cut out.
@tonyz! There is a mobile app for Android and iOS, check first if your device is compatible as my Huawei isn't! That's why it wasn't showing when I searched for it in my Google Play. **