Safello

Safello

  • Sweden

  • Buy/Sell from the platform

  • Safello.com

  • Since 2018

Safello
In Social Media:
Very basic Ease of use,  Enough secure,  Anonymously trading

Safello is a cryptocurrency exchange that provides users with the option of buying and selling Bitcoin from the platform. They operate all over Europe and offer fast transactions that help avoid exposure to market volatility. The exchange is fully regulated by Sweden's Finance Ministry. The high liquidity of Safello ensures prices are close to a fair market rate.

The exchange platform is basic, without many extra features and users can easily buy/sell directly from their account. The interface design is modern and user-friendly. Safello follows strict KYC guidelines and is best for newbies to cryptocurrency who are from/reside in Europe. Support staff is available only during weekdays.

Crypto Currencies Support

Traditional Currency Support

  • Danish Krone (DKK)
  • Euros (EUR)
  • Hungarian Forint (HUF)
  • Norwegian Krone (NOK)
  • Swedish Krona (SEK)
  • Swiss Franc (CHF)

Language Support

  • Dutch
  • English
  • French
  • German
  • Italian
  • Spanish
  • Swedish

Country Support

  • European Union
  • Most of Eastern European Union
  • Norway
  • Switzerland
  • United Kingdom of Great Britain and Northern Ireland

Platforms Systems

  • Web Interface

Safello security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
Funds are not insured
Private Keys Stored On
Exchange platform
Storage Type
At least 80% of user funds are stored in cold storage

Security Features:

  • SSL

Legal Registration or Compliance:

  • KYC/AML Compliant
  • Financial Supervisory Authority (Sweden)

Safello is part of the Safello AB company, which is registered in Stockholm, Sweden. The platform was created in 2013 by Franck Schuil, CEO & Board Member, and Joakim Johansson, Lead Developer. Schuil is a seasoned entrepreneur with experience running startups and an influential person in Fintech industry. In October 2017, Safello acquired Cryex, a Blockchain-based platform for post trading.

Summary:

Safello is a leading European crypto exchange that provides a safe and simple platform to buy and sell Bitcoins. The BTC broker is based in Sweden and offers a range of payments methods, cold storage of funds, and high liquidity, which protects prices from market volatility. However, there is low privacy and fees are not clearly described. Safello is good for Europe-based Bitcoin novices.

Ease of use
Very basic
Transaction Fees
Between 0.10-0.20% depending on volume, Between 0.20-0.30% depending on volume, Between 0.30-0.50% depending on volume
Deposit/Withdrawal Fee
0.1-0.29%, 0.3-0.49%
Deposit/Withdrawal Fee c For Bank Transfer
0.1-0.29%, 0.3-0.49%
Deposit/Withdrawal Fee For Credit Card
0.1-0.29%, 0.3-0.49%
Deposit/Withdrawal Fee Charged For 3rd party Payments
0.1-0.29%, 0.3-0.49%
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Deposit using credit card, Deposit using 3rd party, Withdrawl funds to bank account, Withdrawal funds to credit card, Withdrawal funds through a third party

Functionality:

Safello supports 32 European countries and offers a wide variety of payment methods: bank transfer, credit card, and 3rd-party partners. Users must be citizens or residents of the EU/EEA and must verify their bank account in order to sell BTC. Trading fees are dynamic, depending on frequency and size of orders. Admin fees may apply for updating payment info and issuing refunds.

Most common
customer complaint:

Fees aren't clearly stated, no privacy