Blocktrade Review 2024

Autor

Revisor

Last update: 1 year ago

Our veredict

Blocktrade, a cryptocurrency exchange registered in the EU, particularly stands out for its regulatory compliance and straightforward trading options. Registered with the Estonian Financial Intelligence Unit and owned by a Luxembourg-registered entity, Blocktrade emphasizes legal compliance and user security. This exchange caters to active traders by offering various trading pairs with the Euro, which is currently its only supported fiat currency. Notably, Blocktrade facilitates both crypto-to-crypto and fiat-to-crypto exchanges.

However, the platform has limitations that might affect its appeal to a broader audience. It offers a relatively narrow selection of cryptocurrencies compared to larger exchanges, and it lacks features that generate passive income, such as staking or a referral program. Additionally, Blocktrade does not support margin trading, which could be a drawback for those looking to leverage their trades. Despite these constraints, Blocktrade remains a viable option for traders prioritizing a regulated environment to execute straightforward trading strategies without the complexities of leveraged options.

Pros

Cons

Investing risks losing your money

3,7

Threenvest Score

Fees

0,30%

U.S Legal

With the confidence of Threenvest

Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.

Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.

Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.

Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.

Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.

Best Crypto Exchanges

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About Blocktrade

Introduction

Blocktrade is a centralized cryptocurrency exchange that offers a secure and regulated platform primarily for European traders. Since its inception, the exchange has focused on providing a compliant and user-friendly environment for trading digital assets, enhancing accessibility and security for its users.

What is Blocktrade?

Blocktrade operates as a crypto-to-fiat and crypto-to-crypto exchange, catering to the needs of traders looking to conduct transactions in a regulated framework. Its offerings are particularly appealing to those new to cryptocurrency, providing a simple and direct path to engaging with popular digital assets.

Background and History

Founded and headquartered in Luxembourg, Blocktrade was established under the name Blocktrade SA. It quickly gained traction by offering a robust trading platform backed by a legal framework that adheres to European regulations. This compliance has been a cornerstone of its operations, ensuring that traders operate within a secure and monitored environment.

Founders

The exchange was brought to life by a team led by its CEO, Luka Gubo, who has been instrumental in steering the platform towards innovation while maintaining strict adherence to regulatory standards. Under his leadership, Blocktrade has developed a reputation for reliability and transparency.

Interesting Facts

Blocktrade was one of the first platforms of its kind to be fully registered under the EU’s stringent regulatory guidelines.
Despite its focus on the European market, Blocktrade services clients from over 120 countries, showing its international reach and appeal.

Fun Facts

Blocktrade’s platform integrates sophisticated trading tools that cater to both novice and experienced traders, making it a versatile choice for a broad audience.
The development team frequently updates the trading interface to ensure optimal user experience, reflecting their commitment to continuous improvement and customer satisfaction.

Headlines

“Blocktrade Continues to Innovate with User-Friendly Features” “Expansion of Crypto Offerings Marks a New Chapter for Blocktrade”

Why Choose Blocktrade?

Regulatory Assurance: For those concerned about the legality and security of their investments, Blocktrade offers peace of mind through its strict adherence to European Union financial regulations. Being registered under the EU’s regulatory framework means Blocktrade maintains high standards of security and operational transparency, which are crucial for protecting user funds against fraud and mismanagement.

User-Friendly Platform: Whether you’re a novice in the crypto world or simply prefer a more straightforward trading experience, Blocktrade’s platform is designed to be intuitive and easy to navigate. This makes it an excellent choice for those who may feel overwhelmed by more complex trading environments. The inclusion of a mobile app enhances accessibility, allowing users to manage transactions and track their portfolios from anywhere at any time.

Support for EUR Transactions: For traders operating with euros, Blocktrade is particularly advantageous. The platform’s support for EUR transactions simplifies the process, eliminating the need for currency conversion that can often come with additional fees and complications. This feature, combined with competitive trading fees and the acceptance of both fiat and crypto deposits, makes Blocktrade an economically sensible choice for traders within the eurozone.

Where it falls short

1. Limited Cryptocurrency Options Current State: Blocktrade currently supports only a handful of cryptocurrencies, which limits traders who are interested in a broader portfolio or those looking to trade less mainstream but potentially lucrative digital assets. Suggested Improvement: To remain competitive and meet the diverse needs of its users, Blocktrade could benefit from expanding its list of supported cryptocurrencies. Including more varied tokens and altcoins would not only attract a wider audience but also provide current users with more trading opportunities, enhancing overall user satisfaction and platform utility.

2. Lack of Advanced Trading Features Current State: The platform does not support advanced trading options such as margin trading, futures, and options, which are available on many other cryptocurrency exchanges. This restricts experienced traders who seek more sophisticated trading tools and strategies to maximize their returns. Suggested Improvement: Introducing advanced trading features could significantly enhance the attractiveness of Blocktrade to seasoned traders. Features like margin trading and derivatives are essential tools for traders looking to leverage their positions or hedge against market volatility. Implementing these features would not only cater to the needs of more advanced users but could also increase the trading volume and liquidity on the platform.

Features	Explanation
Minimum Trade	Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
Trading and Transaction Fees	Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Number of Cryptocurrencies	Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Crypto-to-Crypto Trading Pairs	Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
Website Transparency	The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
Credit/Debit Card	Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Storage Offering	Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Staking and Rewards	Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Customer Service	Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Deposit and Withdraw	Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

Fees

Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

Pros

Competitive Rates: Blocktrade's trading fees are competitive within the industry, which can significantly reduce the cost of trading for active users.
Flat Fee Structure: The exchange uses a flat fee rate for all trades, eliminating any confusion about variable rates depending on the asset or trade type, which simplifies the trading process for users.
No Deposit Fees: Blocktrade does not charge any fees for depositing funds, whether in crypto or fiat, making it economical for traders to fund their accounts without additional costs.

Cons

Limited Fee Reductions: Unlike some exchanges that offer tiered fee structures that reduce costs for high-volume traders, Blocktrade’s flat fee model might not benefit active traders with high transaction volumes as much as other platforms.
No Incentives for Makers: The platform does not offer lower fees for makers, who add liquidity to the market, unlike many other exchanges that encourage this with reduced costs. This might be less attractive to users who contribute to market depth and expect to be rewarded for their role.

Product selection

Blocktrade offers a variety of services and products designed to meet the needs of both novice and experienced traders within a secure and regulated environment. At its core, the exchange provides a robust platform for trading popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple against the euro. This is particularly beneficial for traders within the Eurozone looking to engage in crypto trading without the hassle of currency conversion. In addition to basic trading capabilities, Blocktrade also features a user-friendly interface that supports straightforward navigational tools, making it easy for beginners to understand and use the platform effectively. The inclusion of real-time trading data and analytic tools further aids traders in making informed decisions. For those new to the cryptocurrency world or those who prefer simplicity over complex trading setups, Blocktrade’s offerings provide a clear and concise trading experience. Moreover, Blocktrade is committed to compliance and security, operating under the regulations set forth by the Estonian Financial Intelligence Unit. This commitment ensures that all transactions on the platform are monitored and secure, giving users peace of mind when trading. The platform’s focus on regulatory adherence makes it a reliable choice for traders who prioritize the safety of their investments in the ever-evolving crypto market.

Pros

Regulatory Compliance: One of Blocktrade's standout features is its stringent adherence to EU regulations, providing a secure and compliant trading environment. This is particularly beneficial for traders who prioritize legality and security in their trading operations.
User-Friendly Interface: Blocktrade offers a straightforward and intuitive platform, making it accessible to beginners and experienced traders alike. This ease of use is crucial for those new to cryptocurrency trading, ensuring they can navigate and execute trades without undue complexity.
Euro Transactions: Blocktrade’s support for the euro simplifies transactions for users within the Eurozone, allowing them to trade directly with their local currency. This avoids the conversion fees associated with switching from fiat to crypto, which can be a significant advantage for cost-conscious traders.

Cons

Limited Cryptocurrency Options: Despite its user-friendly design and regulatory compliance, Blocktrade offers a limited selection of cryptocurrencies. This can be a significant drawback for traders looking to diversify their portfolios with lesser-known or emerging cryptocurrencies.
Lack of Advanced Features: The platform does not support advanced trading options such as futures, margin trading, or extensive analytical tools that might be available on other platforms. This could deter more experienced traders who require sophisticated trading mechanisms to implement complex strategies.

Read more about product selection in Blocktrade

Blocktrade provides a range of services and products designed to cater to both the novice and the more experienced cryptocurrency traders. Here’s an extensive overview of what they offer: 1. Trading Options

Spot Trading: Blocktrade supports the immediate trading of cryptocurrencies for fiat currencies like the Euro or between cryptocurrencies.
Simple Buy/Sell Orders: Facilitates easy-to-execute trading options for beginners without complicated procedures.

2. Leveraged Tokens

Currently, Blocktrade does not offer leveraged trading or leveraged tokens, which limits traders looking for high-risk, high-reward trading opportunities.

3. Debit Card

Blocktrade does not provide a crypto debit card for its users, which could add value for those looking to spend their cryptocurrency holdings easily in everyday transactions.

4. Mobile and Desktop Apps

Mobile App: Available on both iOS and Android, the app allows users to trade on the go, monitor their portfolios, and receive updates about market conditions.
Desktop Platform: The desktop version offers a comprehensive view with advanced charting tools for detailed analysis.

5. Customer Service

Blocktrade offers responsive customer service through email and an online support form, ensuring users can get help when needed.

6. Deposit and Withdraw

Offers multiple options including bank transfers and credit/debit cards for both deposit and withdrawal, making the platform accessible for users with traditional banking preferences.

7. Staking and Rewards

Blocktrade does not currently offer staking or other reward programs, which are becoming increasingly popular for earning passive income on other platforms.

8. Financial Products

Apart from basic trading, there are no additional financial products like savings accounts or interest-bearing accounts.

9. API Support

Blocktrade provides an API allowing developers and algorithmic traders to integrate and automate their trading strategies with the platform.

10. Educational Resources

The platform includes basic guides and articles to help new users understand cryptocurrency trading and navigate the platform effectively.

11. Security Features

Blocktrade employs robust security measures including two-factor authentication (2FA), cold storage of assets, and compliance with regulatory requirements to ensure the safety of user funds and data.

By focusing on essential trading services and maintaining high security and compliance standards, Blocktrade makes a compelling choice for traders in the European market. However, the addition of features like staking, leveraged trading, and a broader selection of cryptocurrencies could significantly enhance its appeal to a wider audience. These enhancements would not only attract a diverse user base but also foster more dynamic trading activities on the platform.

Account opening

To start trading on Blocktrade, potential users must first complete a registration process on the Blocktrade website or mobile app. This involves providing basic personal information, such as name and email address, and setting a secure password. Following registration, users are required to undergo a Know Your Customer (KYC) verification, which includes submitting a government-issued ID and, in some cases, a proof of address. This step is crucial for ensuring compliance with regulatory standards and securing the user’s account. Once the KYC process is successfully completed, users can deposit funds into their account using one of several methods offered by Blocktrade, including bank transfers and credit/debit cards. After the funds are deposited, users can immediately begin buying, selling, and trading cryptocurrencies. The entire process is supported by Blocktrade’s customer service team to assist with any questions or issues that may arise.

Pros

Streamlined Sign-Up Process: Blocktrade offers a straightforward registration process that requires only basic personal information and email verification, making it quick and easy for new users to set up their accounts.
Multiple Deposit Options: The exchange supports a variety of deposit methods, including bank transfers and credit/debit cards, which enhances accessibility for users across different regions.
Robust Security Measures: During the account opening process, Blocktrade implements strict KYC procedures and advanced security protocols to ensure user data protection and compliance with regulatory standards.

Cons

KYC Delays: The KYC verification step can sometimes lead to delays in account activation, especially during high demand periods, which might frustrate users eager to start trading immediately.
Limited Accessibility: While Blocktrade is available in over 120 countries, it remains inaccessible to residents of the United States and other restricted jurisdictions, limiting its global reach and potential user base.

Read more about account opening in Blocktrade

Opening an account and starting your cryptocurrency journey with Blocktrade involves a series of straightforward steps designed to ensure ease of use while complying with regulatory standards. Here’s a detailed guide to the entire process:

How to Sign Up on Blocktrade

Visit the Blocktrade Website: Navigate to the official Blocktrade website and click on the “Sign Up” button.
Enter Your Details: Fill in the required fields with your personal information such as name, email address, and password. You will also be asked to agree to the terms and conditions.
Email Verification: Verify your email address by clicking on the verification link sent to your registered email.

Opening an Account

Complete KYC Verification: As part of the Know Your Customer (KYC) requirements, you will need to provide additional documentation such as a government-issued ID and possibly a proof of address. This step is crucial for ensuring the security of your transactions and compliance with anti-money laundering laws.
Account Approval: Once your documents are submitted, Blocktrade will review them for verification. This process can take from a few hours to a couple of days, depending on the volume of applications.

How to Buy Your First Cryptocurrency

Deposit Funds: After your account is activated, you can deposit funds using one of the supported methods like bank transfer or credit/debit card. Ensure that your bank account is in your name as third-party payments are typically not accepted.
Purchase Cryptocurrency: Navigate to the trading interface, select the cryptocurrency you wish to buy, and execute your trade. You can choose from the available cryptocurrencies like Bitcoin, Ethereum, and others.

Account Types

Standard Account: Offers access to all basic trading features and functions, suitable for most users.
Professional Account: For more advanced users, offers higher limits and lower fees but requires additional information and trading experience verification.

How to Use Blocktrade?

Navigating the Platform: The user interface is designed to be intuitive. You’ll find easy-to-use tools for viewing your portfolio, tracking market trends,executing trades, and setting up alerts.

Trading: Access the trading page to view the market chart, place orders, and check your trade history. Blocktrade offers a range of order types to suit different trading strategies.

Registration and KYC

Complete Profile Setup: Besides basic registration, ensure you complete your profile setup by providing any additional information required for enhanced account features.
Security Settings: Configure security settings like two-factor authentication (2FA) to add an extra layer of protection to your account.

How to Deposit Money

Choosing a Deposit Method: Select your preferred deposit method from the options available on the platform.
Initiate Deposit: Follow the on-screen instructions to initiate a deposit. Ensure the details are correct to avoid delays.

By following these steps, you can smoothly set up your Blocktrade account and begin trading. Each step is designed to provide security and ease of use, ensuring you have a positive experience as you embark on your cryptocurrency trading journey.

Security

Blocktrade prioritizes the security of its users’ funds and personal information, employing a comprehensive suite of security measures. As a fully regulated platform under the Estonian Financial Intelligence Unit, Blocktrade adheres to stringent EU financial regulations, ensuring high standards of operation and user protection. This regulatory compliance instills confidence in users, knowing that their investments are managed within a robust legal framework. The platform implements advanced security protocols such as two-factor authentication (2FA), SSL encryption, and cold storage for the majority of its digital assets. These measures significantly reduce the risk of unauthorized access and cyber threats, safeguarding user data and funds. Regular security audits further enhance Blocktrade’s security posture, identifying and addressing potential vulnerabilities proactively. Blocktrade’s commitment to user security is complemented by its efforts to educate users on best security practices. While the platform’s security features are robust, users are encouraged to remain vigilant and utilize all available security options to protect their accounts. Overall, Blocktrade’s focus on regulatory compliance and advanced security protocols makes it a trustworthy choice for those prioritizing safety in their cryptocurrency trading activities.

Pros

Comprehensive Regulatory Compliance: Blocktrade is rigorously regulated under EU standards, ensuring it adheres to the highest levels of legal and security measures. This compliance provides a strong foundation of trust and safety, making it a reliable platform for users concerned about the legitimacy and security of their cryptocurrency transactions.
Regular Security Audits: By conducting regular security audits, Blocktrade ensures that all its systems are up-to-date and robust against evolving cyber threats. This proactive approach in maintaining and enhancing security systems underscores its commitment to protecting its platform and users.
Advanced Security Protocols: Blocktrade employs state-of-the-art security technologies including SSL encryption, two-factor authentication, and cold storage of the majority of its assets. These measures significantly reduce the risk of unauthorized access and potential cyber threats, safeguarding user funds and personal information effectively.

Cons

Lack of Insurance: Unlike some other major exchanges, Blocktrade does not explicitly mention offering insurance on user funds stored on the platform. In the event of a security breach, there might be uncertainties regarding compensation for users, which could be a significant concern for potential and current users.
Limited Information on Security Practices: While Blocktrade asserts the use of various security measures, there is limited detailed public information available about the specifics of their security infrastructure and protocols. More transparency in this area could help users feel more secure and informed about how their data and funds are being protected.

Is Blocktrade Legit?

Blocktrade is a legitimate and well-regulated platform, licensed under the stringent financial oversight of the Estonian Financial Intelligence Unit. This ensures that it operates in compliance with EU financial regulations, providing a secure and reliable environment for cryptocurrency trading.

Security Measures

Blocktrade incorporates multiple security measures to protect user data and assets:

Cold Storage: A large portion of the cryptocurrencies is stored in cold wallets, which are isolated from any online system and provide robust protection against hacking and other cyber threats.
Two-Factor Authentication (2FA): This adds an extra layer of security by requiring not only a password and username but also something that only the user has on them, typically a piece of information only they should know or have immediately to hand – like a physical token.
SSL Encryption: All data transmitted between the user’s device and Blocktrade’s servers is encrypted using SSL technology to prevent data theft or interception.
Regular Security Audits: To further bolster security, Blocktrade undergoes regular security audits performed by independent third parties to identify and rectify vulnerabilities.

Regulation and Licensing

Blocktrade’s adherence to regulatory guidelines under EU law not only reinforces its legitimacy but also ensures it upholds high standards of operational integrity and customer protection. This regulatory framework mandates stringent operational protocols and regular reporting that reinforces the exchange’s commitment to user security.

Is Blocktrade Safe?

The proactive measures taken by Blocktrade make it one of the safer cryptocurrency trading platforms available:

Comprehensive Risk Management: Blocktrade implements advanced risk management protocols to mitigate the risks associated with cryptocurrency trading, ensuring that both the platform and its users are safeguarded against unexpected market volatility and potential security breaches.
User Education: Blocktrade emphasizes educating its users about security best practices through its platform and communications, enhancing the overall security posture by making users aware of how to protect themselves from phishing, fraud, and other cyber risks.

Security History

While Blocktrade has maintained a commendable security record, the potential for future risks remains as it does with any digital platform. However, its continuous improvement in security measures and infrastructure demonstrates a clear commitment to maintaining the highest standards of safety and compliance.

Conclusion

Blocktrade’s security framework is designed to protect users effectively in the fast-evolving cryptocurrency market. The combination of regulatory compliance, advanced security technology, and proactive risk management strategies positions Blocktrade as a secure platform for cryptocurrency enthusiasts and investors. However, users should remain vigilant and adhere to recommended security practices to ensure their digital assets are protected at all times.

Customer service

Blocktrade is dedicated to providing high-quality customer service to ensure a smooth and supportive trading experience for its users. The platform offers multiple channels for customer support, including email, an online support form, and active engagement on social media. This multi-channel approach ensures that users can easily reach out for assistance in the manner that suits them best. Users generally report positive experiences with Blocktrade’s customer service, highlighting the team’s responsiveness and helpfulness. The support team strives to respond to inquiries within a few hours, though more complex issues may take up to 24-48 hours for resolution. This level of responsiveness is crucial in the fast-paced world of cryptocurrency trading, where timely assistance can make a significant difference. Blocktrade also places a strong emphasis on gathering and acting on user feedback. The platform regularly solicits feedback through surveys and direct communication to continuously improve its services. This proactive approach helps Blocktrade stay attuned to user needs and enhances overall customer satisfaction. However, there is room for improvement in providing 24/7 support and speeding up the resolution of complex issues. Overall, Blocktrade’s commitment to customer service and user feedback underscores its dedication to delivering a reliable and user-friendly trading environment.

Pros

Multiple Contact Channels: Blocktrade offers a variety of ways for customers to reach out for support, including email, an online support form, and active engagement on social media platforms. This accessibility ensures that users can choose the most convenient way to get help according to their needs.
Proactive Feedback Solicitation: Blocktrade actively seeks out user feedback to improve their services. This includes follow-ups on support interactions and surveys to gauge customer satisfaction, demonstrating a commitment to continuous improvement based on user input.
Responsive Support Team: Users generally report quick response times from the customer service team. Blocktrade aims to respond to inquiries within a few hours, ensuring that users receive timely assistance, which is crucial in the fast-paced world of cryptocurrency trading.

Cons

Limited 24/7 Support: While Blocktrade offers quick responses during business hours, their 24/7 support capabilities might be limited. This can be a drawback for traders who operate in different time zones or during non-standard trading hours.
Complex Issue Resolution Delays: While general inquiries receive fast responses, more complex issues requiring deeper investigation can lead to longer resolution times. This delay can be frustrating for users needing immediate solutions to continue their trading activities without disruption.

Read more about customer service in Blocktrade

Customer Service Section of Blocktrade

Customer Support

Blocktrade offers a structured customer support system designed to assist users with various inquiries and issues related to their trading activities. The support team can be contacted through multiple channels, ensuring accessibility and convenience for users.

Reputation and Customer Feedback

Blocktrade generally receives mixed reviews from its user base. Users appreciate the platform for its ease of use, regulatory compliance, and the security of their funds. However, some users have expressed concerns over the limited selection of cryptocurrencies and the lack of advanced trading features. This feedback highlights the platform’s appeal to beginners and those prioritizing security over variety.

Methods of Contact

Users can reach Blocktrade’s customer support through:

Email: A direct and official channel where users can send their queries.
Online Support Form: Available on their website, allowing users to submit issues directly through their account interface.
Social Media: Although not the primary means for support, Blocktrade maintains an active presence on platforms like Twitter, where users can reach out informally.

Response Time

Blocktrade strives to provide timely responses, typically replying to queries within a few hours to a business day. The actual response time can vary depending on the complexity of the issue and the volume of inquiries being handled.

Additional Considerations

When contacting customer support, users should be prepared with all relevant information to facilitate a swift resolution. This includes transaction details, account information (excluding passwords), and a clear description of the issue. Given the security-centric nature of Blocktrade, users can also expect rigorous verification processes to ensure that their accounts and transactions remain secure while handling support requests. For potential users reading about Blocktrade’s customer service, it’s essential to consider what level of support they expect and whether Blocktrade’s offerings align with those expectations, especially if they are new to cryptocurrency trading or if they prioritize extensive customer service interaction.

Is blocktrade Right for You?

Security and Compliance Focus: Blocktrade is ideal for users who prioritize the security of their investments and prefer trading within a regulatory framework. Being registered under the EU’s regulatory bodies, it offers a secure trading environment, which is a significant consideration if you’re concerned about the safety of your crypto assets and personal data. This makes it suitable for both new traders who are cautious about entering the crypto market and experienced traders who prioritize legal compliance and security.
Euro-Centric Trading: If you’re a trader based in the European Union or someone who primarily deals in euros, Blocktrade could be a great fit. The platform is tailored to handle euro transactions efficiently, supporting trading pairs that involve the euro. This can be particularly advantageous for avoiding exchange fees related to currency conversion if euros are your currency of choice.
Beginner-Friendly Platform: Blocktrade’s interface is designed to be user-friendly, making it a good starting point for beginners in the cryptocurrency market. If you are new to trading and looking for a platform that simplifies the process without overwhelming you with complex features, Blocktrade’s straightforward design and easy navigation will likely appeal to you. However, if you are an advanced trader looking for sophisticated trading tools and a wide array of crypto assets, you might find Blocktrade limited in functionality and variety.

Consider these factors carefully to determine if Blocktrade aligns with your trading needs and goals.

Blocktrade compared to other crypto exchanges

Threenvest score

3,7

Fees

0,30%

US Legal

–

Security

High 4,6/5

Investing risks losing your money

Threenvest score

4,9

Fees

0,40%/0,60%

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Coinbase

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

Cryptocurrencies and Available Countries on Blocktrade

Blocktrade supports a relatively modest array of cryptocurrencies, currently offering trading options in 8 major digital assets. While this selection covers some of the most commonly traded cryptocurrencies, it’s important to note that the exchange does not support some significant cryptocurrencies like Monero (XMR), Dash (DASH), and Tether (USDT), which might be a limitation for traders interested in a broader crypto portfolio.
As for geographic availability, Blocktrade primarily serves clients within the European Union and extends its services to traders from over 120 countries globally. However, it’s crucial for potential users to be aware that Blocktrade does not provide services to residents of the United States. This restriction could be a significant drawback for US-based crypto traders who are unable to access the platform due to regulatory considerations.

This setup makes Blocktrade an appealing option for European traders looking for a secure and compliant trading platform, while it may not be suitable for those in the US or traders seeking a more extensive selection of cryptocurrencies.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)
Ethereum Classic (ETC)
Stellar (XLM)
EOS (EOS)

Main countries where you can open an account

Germany
France
Italy
Spain
Netherlands
Belgium
Portugal
Austria
Finland
Sweden
Denmark
Poland
Czech Republic
Slovakia
Estonia
Latvia
Lithuania
Hungary
Romania
Bulgaria

FAQs

1. What cryptocurrencies can I trade on Blocktrade?

Blocktrade supports a selection of 8 major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC), Stellar (XLM), and EOS (EOS).

2. In which countries is Blocktrade available?

Blocktrade is available to traders in over 120 countries worldwide, primarily within the European Union. Key accessible countries include Germany, France, Italy, Spain, and many other EU nations. However, it does not provide services to the United States and other countries with stringent regulatory restrictions.

3. How does Blocktrade ensure the security of my investments?

Blocktrade is registered with the Estonian Financial Intelligence Unit and complies with EU regulations, ensuring a high standard of security. It employs advanced security measures such as SSL encryption, two-factor authentication, and cold storage of digital assets to protect user funds and information.

4. What are the fees for trading on Blocktrade?

Blocktrade offers competitive trading fees similar to industry averages. Specific fees can vary based on the market activity and the type of transaction, but detailed information on all applicable fees is transparently provided on the platform.

5. Can I use fiat currencies on Blocktrade, and what are the supported methods?

Yes, Blocktrade supports transactions in Euros. You can deposit and withdraw Euros using bank transfers or debit/credit cards, making it convenient for users within the Eurozone.

6. What is the minimum deposit required to start trading on Blocktrade?

The minimum deposit required on Blocktrade is relatively low, allowing you to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat currency deposits.

7. How do I contact customer support if I have an issue?

You can contact Blocktrade’s customer support via email or through their online support form. They are known for a responsive support system, aiming to address and resolve queries within a few hours to a business day.

Final opinion on Blocktrade

At Threenvest, we recognize that Blocktrade offers a reliable gateway into the world of cryptocurrency trading, especially for those based in the European Union. Its adherence to strict regulatory standards and its focus on security make it an attractive option for traders who prioritize legal compliance and the safety of their funds. The user-friendly interface and support for essential cryptocurrencies like Bitcoin and Ethereum cater well to newcomers to the crypto market as well as to those who seek a straightforward trading experience without the need for extensive arrays of altcoins or advanced trading features.

However, when compared to larger, more established exchanges, Blocktrade’s offerings might seem limited. The lack of a wide variety of cryptocurrencies and advanced trading options such as margin trading might deter seasoned traders looking for a more dynamic trading environment. Additionally, the restriction of service to users from the United States and other countries under stringent regulatory frameworks could limit its potential user base. Overall, while Blocktrade demonstrates a strong foundation in security and regulatory compliance, its appeal is more targeted. For clients of Threenvest looking for a secure and straightforward platform within the EU, Blocktrade is a commendable choice, though those seeking more depth in their trading activities might explore other options.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money