Safello
- Overview
- Security
- User Experience
Volume 24H: N
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
- BTC
Traditional Currency Support
- CHF
- DKK
- EUR
- HUF
- NOK
- SEK
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
Stock Market Options
The exchange views security as a key feature of their operation. They store all data electronically on highly secured servers, using two-factor authentication for securing passwords. The servers are stored in nuclear caves with controlled access. Due to their instant payment clearance, users will never have to store their local currency on the site before receiving their BTC.
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 |
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 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 | No |
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