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Wednesday, August 17, 2022

Velic.io Exchange Review: It Is Legit & Secure Exchange

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About Velic.io

Velic.io is an exchange from Singapore that launched in 2018. There are numerous other exchanges from Singapore. Singapore has really established themselves as one of Asia’s largest crypto hubs.

VELIC Platform provides a comprehensive solution for crypto-assets that delivers highest quality crypto-related services under a single integrated-user-account. The services are built upon an innovative secure storage infrastructure which simultaneously offers security and accessibility – traits which are typically mutually exclusive. With a heavy focus on security, VELIC aims to transform the crypto-finance experience for everyone.

Experience a wide range of crypto investment services with VELIC, a user friendly crypto finance platform. Velic.io stands for Vault, Exchange, Loan and Investment for Crypto-asset services. Interface designed to allow users to trade and invest easily and efficiently.

ExchangeDetails
Exchange NameVelic.io
Exchange TypeCryptocurrency
Trading Fee0.15%
Deposit FeeFree
Maker Fee0.20%
Taker Fee0.20%
Maker Fee24/7
Top CountryIndia
Website Homepage

How To Sign Up & Start Trading

You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

VELIC Trading fees

Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they divide between takers and makers. Takers are the one who “take” an existing order from the order book, while makers “make” the orders that get taken. 

VELIC offers a trading fee of 0.15% for makers, and 0.20% for takers. The trading fees are also reduced based on trading volume and holdings of VELIC’s native token

VELIC Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn). It varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is slightly above 0.0006 BTC when you withdraw BTC.

Velic.io charges you 0.002 BTC (which by the end of 2020 was around USD 50) per BTC-withdrawal. This means that their BTC-withdrawal fee is more than three times higher than the global industry average, and thus very disadvantageous to its traders. We hope VELIC lowers this withdrawal fee very soon.

Deposit Methods

This exchange accepts credit card deposits, so it actually qualifies as an “entry-level exchange”. Wire transfers are however not possible. If you need to find an exchange where wire transfer is also an available deposit method. 

VELIC Platform 

VELIC Platform provides a comprehensive solution for crypto-assets that delivers highest quality crypto-related services under a single integrated-user-account.

Services 

Services are built upon an innovative secure storage infrastructure which simultaneously offers security and accessibility – traits which are typically mutually exclusive.

With a heavy focus on security

With a heavy focus on security, VELIC aims to transform the crypto-finance experience for everyone.

Features

Vault

Velic.io Securely store access to crypto assets. Includes key loss prevention and solutions for the transfer of assets in case of extreme event.

Exchange

Deliver the best crypto asset trading experience and environment by hosting a safe and transparent crypto-to-crypto trade service.

Loan

Borrow or lend crypto assets at preferential rates.

Investment

A range of investment products used to achieve varying degrees of exposure to the crypto assets Securely store access to crypto assets.

Crypto Asset

All these services will be based on Crypto Asset.

Velic Exchange Review

6.1

CURRENCY VERITY

5.0/10

REPUTATION

6.5/10

CUSTOMER FEEDBACK

5.5/10

CUSTOMER SUPPORT

7.0/10

DESIGN

6.5/10

Pros

  • Securely store access
  • 24/7 Support

Cons

  • High Fees
  • No Live Support
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