SpectroCoin Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- £1
- Proprietary platform
- All major cryptocurrencies, pairs with fiat, many deposit/withdrawal options, low commissions, multi-currency wallet, VISA card, IBAN account, and the service issues cryptocurrency credits
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- £1
- Proprietary platform
- All major cryptocurrencies, pairs with fiat, many deposit/withdrawal options, low commissions, multi-currency wallet, VISA card, IBAN account, and the service issues cryptocurrency credits
Our Evaluation of SpectroCoin
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
SpectroCoin is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 4.08 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by SpectroCoin clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The SpectroCoin cryptocurrency exchange offers favorable conditions of cooperation. There are many pairs with major cryptocurrencies and fiats. The platform provides users with an individual multicurrency wallet, an international bank account, and a Visa card. It is possible to take a cryptocurrency loan. The referral program is standard, and the service gives ready media content, including advertising banners with embedded affiliate links.
Brief Look at SpectroCoin
The SpectroCoin exchange is a service for buying, selling, and exchanging cryptos-to-cryptos and cryptos-to-fiats. The crypto exchange provides users with a multi-currency e-wallet and a Visa debit card. Among the traded cryptocurrencies are Bitcoin (₿), Ethereum (Ξ), Tether (₮), Dash (Ð), XEM, Banker, True USD, Paxos Standard, and USD Coin. All operations are performed through a specialized application for the browser, and there are versions for mobile devices based on iOS and Android. It offers hot and cold storage for cryptocurrencies, and account protection is provided by two-factor authentication. All major deposit/withdrawal options are available, including bank transfers, mobile transfers, Sepa, Skrill, and other systems.
- a vast array of cryptocurrencies and currencies for trading/exchange;
- virtual card for deposits/withdrawals with low fees;
- several deposit/withdrawal channels, including fiat;
- small minimum deposit (from £0.01, depending on the input method);
- possibility of receiving credits in cryptocurrency;
- provision of multi-purse and Visa cards;
- profitable referral program and Bug Bounty detection program.
- no investment programs;
- no information about the license of the company.
TU Expert Advice
Financial expert and analyst at Traders Union
The SpectroCoin cryptocurrency exchange has been operating since 2013. It is based in the UK and has all forms of feedback and technical support, including a call center. However, there is no licensing information on the company's website.
Even so, SpectroCoin is trusted by thousands of users globally. In 8 years, the company has grown significantly in trading volumes and continues to evolve, constantly introducing new cryptocurrencies. The functionality of the site is also undergoing positive changes, thanks in no small part to the Bug Bounty detection system. This system allows the user to get from $200 to $15,000 for finding a bug or vulnerability.
The site has no investment programs, but there is a standard referral program, under which the user receives 10% of the commissions on their referrals. The platform also provides cryptocurrency loans for 1 year. The size of the credit and the interest rate depend on the cryptocurrency and the user's status in the system.
No technical problems were registered during the test, and transactions are implemented within the estimated time frame. SpectroCoin provides all basic options for depositing and withdrawing cryptocurrencies and fiat currencies. Each user is provided with a wallet, bank card, and IBAN, which gives the advantage of a universal transfer system with low commissions.
SpectroCoin Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptos, fiat currencies |
| 💵 Replenishment / Withdrawal: | Visa, Skrill, Neteller, Perfect Money, Payeer, Advcash, Sepa, MS, Maestro, local and international bank transfer for EUR and GBP |
| 🚀 Minimum deposit: | From £1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptos, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Not indicated |
| ⭐ Trading features: | All major cryptocurrencies, pairs with fiat, many deposit/withdrawal options, low commissions, multi-currency wallet, VISA card, IBAN account, and the service issues cryptocurrency credits |
| 🎁 Contests and bonuses: | Rebates from the Traders Union |
Please note that SpectroCoin does not set a uniform minimum deposit. The deposit is strictly determined by the means of input you use. For example, on a Sepa bank transfer, the minimum deposit amount is €0.01 and there is no fee. If you use Visa, then the minimum deposit will be €0.5, also there will be a commission of 2.99%. The peculiarity of the input is that only certain currencies are available for each of the presented channels. For example, with Sepa you can only deposit euros; and with Visa, you are limited to euros, dollars, and rubles.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | Individually assessed | Yes |
Unlike exchange and trading fees, deposit and withdrawal fees are fixed. They depend only on the deposit/withdrawal channel that you are using. You can find out about all the deposit and withdrawal commissions in the corresponding section of the official website of the crypto exchange. If you compare SpectroCoin's terms and conditions with those of other platforms, the most obvious result is shown in the following table:
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$20 | |
|
$0.1 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
The SpectroCoin crypto exchange has not introduced investment programs at the moment. The user can earn via profitable exchanges, as well as from the sale and purchase of cryptocurrencies and fiat currencies on the presented pairs. In addition to the referral program, there is passive income from the Bug Bounty program.
Bug Bounty is a system of rewarding users for finding weaknesses in the functionality or application code of a site. Payouts can range from $200 for a low-risk vulnerability to $10,000 - $15,000 for critical vulnerabilities.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
SpectroCoin’s affiliate program
SpectroCoin offers a standard referral program. After registration, each user receives a personal affiliate link. He is free to place this link wherever he wants. Everyone who registers at the site using his link becomes his referral partner. The referral brings the user revenue of 10% of all commissions paid by him.
An important difference among SpectroCoin's affiliate program and those of its competitors is the full-fledged media content. The site provides a wide range of marketing materials, including banners. When you copy the code of the material from your cabinet, your link is automatically embedded in it. This solution helps you attract partners more effectively. Detailed statistics for all your marketing campaigns are also available, so you can keep track of the most effective ones.
The affiliate program has no expiration date and you will be paid as long as your referral is active on the market. You do not receive payments from the commissions of users who have invited your referrals. Payouts are made daily, there is no minimum limit and you can transfer them directly to your multicurrency wallet, in the currency in which the commission was withdrawn from your referral.
User Satisfaction