When users withdraw Bitcoin from their Folgory accounts, a withdrawal fee that amounts to 0.001 Bitcoin is deducted from their balance. However, the Folgory exchange fees may vary for other currencies. Binance is the leading global crypto established exchange by trading volume, offering a much larger selection of cryptocurrencies than Folgory—over 351 coins and over 1300 pairs. Folgory cannot compare at all to this level of trade offerings. Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Folgory. Coinbase also offers much more of a selection of trading pairs compared to that offered at Folgory, with 440 trading pairs, compared to 43 coins at Folgory, as well as advanced charting, accessible order books, and advanced order types, which both exchanges offer.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we’ll help you find the right platform for you. The service seems to work well enough but support on Folgory is absolutely pathetic. No support, no assistance, these people are scam artists and could care less if you run into issues that require assistance. The current exchange Volume Dominance among all other exchanges in the market. Folgory exchange is marked as ‘Inactive’ because of inactivity folgory login or insufficient amount of data.
For KYC, users are required to submit their name, address and proof (via utility bill or bank statement), DOB, nationality, government-issued ID, and a valid photo holding said ID, in addition to a video with the ID document in hand. All users of Folgory are required to undergo the same KYC verification procedures as per its KYC/AML terms. In addition, a lot of Folgory’s website pages and support pages use imperfect explanations, have typos, and are not presented in perfect English, which does not build credibility regarding the safety of the exchange. Folgory currently has 0 monthly organic visitors to its website, which is quite a low amount of traffic. The company’s Ahrefs Rank is 661,819, and the Website Domain Rating is 51 – both of these metrics are deemed as good.
At the time of its emergence in 2019, Folgory was subject to regulation and licensing throughout Europe. Folgory crypto exchange satisfied all of the AML regulations and demands made by law enforcement agencies in the EU. Both the Folgory Co-Brand and the Folgory Coin Brand are available as options for prepaid cards via the exchange. Both cards are compatible with the Mastercard payment system, which enables their owners to conduct transactions using a total of 30 different fiat currencies. In contrast to many other exchanges, this one does not offer any bonuses or tiers that are dependent on the Folgory trade volume. The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned).
Users can withdraw from the wallet by navigating to the “Wallet” section of their account page, then clicking the crypto the user wishes to withdraw. It is not suggested to undergo KYC procedures if the user does not trust Folgory with their custody of their sensitive private data, since the exchange is not deemed trustworthy. For this reason, it is suggested to avoid depositing any important funds to Folgory and liability for doing so rests solely on the user. In fact, Folgory only lists one article on its support center advocating for users to enable 2FA.
This means that they charge both takers and makers the same fee. We use dedicated people and clever technology to safeguard our platform. The native token of the exchange is the Folgory (FLG) token.
- Today, however, we are today seeing more and more exchanges moving towards lower trading fees, and new industry averages are starting to form around 0.10%.
- For this reason, it is suggested to avoid depositing any important funds to Folgory and liability for doing so rests solely on the user.
- Use our Crypto Exchanges Fees Calculator to calculate several crypto exchanges trading fees to buy and sell cryptocurrencies for pending orders (maker fees) and instant orders (taker fees).
- Coinbase is far better for all aspects of crypto trading if compared to Folgory.
- All users of Folgory are required to undergo the same KYC verification procedures as per its KYC/AML terms.
- However, there are naturally people out there that want to do it from their smart phone as well.
- In contrast to many other exchanges, this one does not offer any bonuses or tiers that are dependent on the Folgory trade volume.
No respones from their support for…
Folgory does not list much information publicly on its website about its security precautions besides one article on its support center advocating for users to enable 2FA. Trading fees are incurred when an order is filled by the exchange’s matching engine. If an order does not execute, there is no fee charged until it does execute at a later point, or it can be canceled.
Exchanges similar to Folgory
- Coinbase also offers much more of a selection of trading pairs compared to that offered at Folgory, with 440 trading pairs, compared to 43 coins at Folgory, as well as advanced charting, accessible order books, and advanced order types, which both exchanges offer.
- It is not suggested to undergo KYC procedures if the user does not trust Folgory with their custody of their sensitive private data, since the exchange is not deemed trustworthy.
- Paying to get listed on a crappy centralized exchange for a 100% decentralized, ASIC resistant coin such as BTCZ is just flat out retarded and irresponsible in my opinion.
- Trading and investing in digital assets is highly speculative and comes with many risks.
- Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked).
- Sometimes, exchanges might even allow investors from certain states in the US but not investors from other states in the US.
Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. Past performance is not necessarily indicative of future results. Remember that fees can significantly impact your overall trading profitability, so it’s essential to factor them into your trading strategy and decisions. Folgory cryptocurrency exchange is a digital currency trading platform that was established in 2019 and is based in Seychelles. In order to use the exchange, users must complete identity verification procedures through KYC. Besides, users from the United States are prohibited from using the exchange.
Products
As for customer support, Folgory seems to mainly offer support via the opening of tickets inside of the exchange account as per this support article. Users can also leave a message in the chatbox of the exchange site on the bottom right under the “Help” icon. Folgory One Exchange was launched in May of 2019 and momentarily ranked among the top 20 exchanges based on volume upon launch, setting a record of more than a billion dollars in volume. As of Feb 2022, CoinMarketCap shows Folgory’s 24H volume at ~65M. This exchange doesn’t treat takers (persons taking orders off the order book), and makers (persons placing the orders that the first group of persons take off the order book) differently.
We all buy some bitcoinz for usdt and we pay with these usdtnfor the listing. Some people even wish to donate for an exchange listing so the overall used coins from the fund will be around 10-12% and in reality will be just distributed to active community members who buy them for usdt. The minimum withdrawal amount for crypto assets at Folgory is not listed on any support/FAQ or fee rate documentation, however minimum deposit amounts are listed on this page. However, readers should note that many social media users report frozen withdrawals at Folgory specifically and suspect the exchange of foul play, so it is encouraged to ideally use a different exchange in case of faulty withdrawal. In general, all crypto transactions on average can take from 30 minutes to several hours for a transaction to be confirmed due to the blockchain.
User Reviews
By analyzing Folgory social media signals, you can instantly see how active, community-involved and popular the company is. HashFort OU, which is situated in Estonia, is the company that founded Folgory. The Folgory was first introduced to the market in May 2019, and it immediately achieved a position among the top 20 exchanges in terms of Folgory volume, establishing a new record of more than $1 billion in volume.
Binane’s maker-taker delineated fee schedule starts at 0.1% which is half of that of Folgory’s flat 0.20% fee, plus Binance also offers further 25% reduction in fees if paid in BNB, alongside offering reduced fee tiers for higher volume and even maker rebates. This exchange may possibly be considered an unsafe or “scam” exchange and it is highly suggested not to use Folgory unless you are an advanced user and are able to risk any funds entering this exchange. While CoinMarketCap does show around $65M of 24H volume in Folgory, it is possible to fake this volume to make the exchange look active. Lastly, Folgory also offers mobile apps for users to be able to trade anywhere and anytime with the Folgory app for both Android in Google Play and for iOS. One unique feature Folgory offers is a crypto advertising network that allows project owners to connect their project to a large audience of crypto users, as well as allowing the end user to earn Bitcoin for watching ads. There is also a launchpad offered for IEOs for new token listening and projects.