Summary
Stormgain is a complete platform for storing and trading Bitcoin or other cryptocurrencies. Both novice and seasoned traders may easily use its user-friendly interface, breaking down the complexity of digital currency trading. At reasonable prices, you may swap, purchase, and sell a variety of cryptocurrencies. Not only that, but StormGain has a unique function that lets you mine Bitcoin straight from the platform, giving you even another way to accumulate cryptocurrency. In this StormGain review, we will detail different aspects of the exchange, including the StormGain app.
Features
Ease of use
Customer support and security
Fees
Overall
4.3
(Overall Rating)
Key Features
- Leverage up to 500x
- Bitcoin mining
- Decentralized exchange
- Crypto staking
- Options and futures trading
- Provides very leveraged trading on more than 60 cryptocurrency futures, indices, options, and some spot cryptocurrency.
- StormGain app for Android and iOS.
- An intuitive and customized interface.
- Experienced day traders with a substantial risk appetite can benefit from the extremely high leverage of up to 1:300.
- It is an excellent teaching part with much content for novices and intermediate and seasoned traders.
- There are Few futures compared to other comparable competitors in the cryptocurrency space, such as Binance, Kraken, and Coinbase, which have hundreds.
- Only 9 coins are available for direct purchase.
- The only ways for traders to fund their accounts are through cryptocurrency transfers or expensive card transactions.
- Restricted platform devoid of duplicate trading or automated trading bots.
- Maker/taker fees are more than double some top rivals.
Is Stormgain Legit?
Legibility is the most critical feature that you may look for in a StormGain review. The Blockchain Association has acknowledged StormGain as a top platform offering competitive interest rates and trading to traders in the United Kingdom. Although the exchange is lawfully functioning in the UK, no financial institution has tight regulations governing it. The exchange offers security measures to protect customers’ cash, including 2-factor authentication and SSL encryption on top of the multi-signature wallets and an easy registration process for leverage brokers. You can use these features on the StormGain app for Android and iOS.
Given its legal status and abundance of exclusive features like profit sharing, Bitcoin mining, and options trading, StormGain is an excellent value. It is primarily accessible from within the UK and inaccessible to merchants in several nations, including the US.
Even yet, when trading on the no KYC platform, one must consider its absence of oversight by an authority.
Stormgain Features
There are a lot of features to be mentioned in this StormGain review, but we will introduce some of the most vital ones. Since its launch, StormGain has been accessible to cryptocurrency fans in 100 different nations. Every day, there are around 120,000 active users on it. Being a sponsor of the Newcastle United Football Club (NUFC) for the 2019–2020 Premier League season, the corporation is also well-known for this association. StormGain was highlighted in nearly all of the top online media outlets in 2021 that support cutting-edge cryptocurrency investing services.
The demo account offers an additional way to test out the primary features of the online cryptocurrency trading platform. StormGain offers three primary product/service categories:
Cryptocurrency exchange.
Marketplace for trading.
StormGain Crypto wallet.
The ability to trade with high leverage is one of the StormGain exchange’s most alluring characteristics. By longing or shorting Bitcoin and other cryptocurrencies using StormGain, users may increase their gains and losses by up to 500 times. Nonetheless, we must stress that high-margin trading is not appropriate for novices. In any case, experienced traders will find comfort in the robust Futures exchange on the StormGain platform. Meanwhile, in terms of liquidity, it falls short of our ranking of the top cryptocurrency leverage platforms.
Demo Account
The demo account is a crucial feature to be listed in this StormGain review. Not every cryptocurrency trial account lets you practice trading with virtual money. Before financing the real account, customers may practice trading risk fees and familiarize themselves with the platform using StormGain’s demo mode, which uses actual crypto data. StormGain employs live pricing for its demo accounts instead of a test net, so users may hone their abilities and create strategies meant for real money live trading.
Unlocked Staking
Unlocked staking, one of StormGain’s unique features, allows users to receive rewards passively on money stored in a StormGain wallet without worrying about lockup periods. As part of the StormGain loyalty program, unlocked staking rewards—which now stand at 2% APY—can increase in proportion to trade volume. 10% staking APY is offered to users who execute at least $150,000 monthly transactions. Users with a monthly trading volume of over $75 million are eligible for a maximum rate of 20%. Moreover, users may still receive benefits without having to commit their tokens. Users need to keep USDT in their wallets instead. Because of this, customers have significantly more flexibility than on most other trading platforms when trading with their staked funds.
StormGain Swaps
StormGain’s built-in swap function enables users to switch between cryptocurrencies quickly. Users may conduct cryptocurrency exchanges inside StormGain using the immediate exchange as an alternative to instant swap sites like Changelly, ChangeNOW, SimpleSwap, and SwapSpace. The basic commission fee for cryptocurrency swaps starts at 0.095% and can be lowered through the loyalty program. Although StormGain’s cryptocurrency swapping range might be much more comprehensive, the costs are still quite affordable.
Loyalty Program
StormGain provides its most active users with rewards through a loyalty program. Staking APY, swap commission, and mining speed are all impacted by tiers, which are determined by trade volume. The benefits are helpful for active users on the StormGain platform; nevertheless, unlike other exchanges on the market, there are no reductions on trading fees for spot or futures exchanges.
StormGain Mobile App
With the StormGain app, users can mine, trade, and stake Bitcoin on iOS and Android operating systems. Users may access nearly all of the features available on the desktop version of the online trading platform through the StormGain mobile app, making it an extremely flexible tool. Users get a list of various instruments after logging into the program; the bottom navigation bar allows users to access services like the exchange and integrated cryptocurrency wallet. Users of the StormGain app have access to various markets, such as spots, futures, commodities, and contracts for Bitcoin and Ethereum options. Only mobile users may also get AI-generated crypto signals through the StormGain app.
StormGain KYC
The next part of our StormGain review will be dedicated to KYC requirements. The verification procedure is required on StormGain. The verification procedure is free of charge. Before you can begin trading, this step must be finished. This one-time process takes a few hours to complete and is straightforward.
Many banks, financial institutions, and other regulated businesses follow the Know Your Customer policy, which requires them to confirm a client’s identity before doing business with them. Reducing the client’s risks is one of the policy’s primary objectives. Typically, this process entails giving personal information like Full name.
Date of birth.
Customer’s address.
Nationality.
Scan a passport or ID.
The account verification procedure may call for specific papers. The primary goal is to safeguard the client’s money. It is crucial to understand that this requirement is a standard account verification process used by many foreign businesses that conduct business online rather than a distinct concept. Please accept that. We aim to establish a long-term partnership based on verified documentation of the processes related to trading, adding, and withdrawing cash.
StormGain Availability
All readers of a StormGain review will ask if there is any restriction on the availability of the exchange or not. Regarding geographical acceptability, StormGain has stringent requirements. It welcomes investors and dealers from the following nations:
Australia, Canada, Thailand, The United Kingdom, Singapore, South Africa, France, Hong Kong, Germany, and India.
Traders from nations like the following are unable to use the services of the exchange, including the StormGain app, because of regional restrictions:
The United States, Japan, Afghanistan, Guyana, Bosnia, Herzegovina, Iraq, Iran, Yemen, Uganda
StormGain Security
The platform has robust security procedures in place. Two-factor authentication (2FA) using Google Authenticator or the phone number OTP method (SMS) protects user information and transactional data. By doing this, cyberattacks on StormGain accounts are prevented. The platform ensures that most of its holdings are kept in cold wallets, offline storage spaces that can safely safeguard all digital assets in its capacity as a broker.
StormGain Customer Support
In addition to offering live chat assistance on the StormGain app for prompt issue resolution, email support ([email protected]), and a Telegram support bot, StormGain maintains a round-the-clock online customer service desk. Nevertheless, the assistance features will be restricted for accounts that are not paid. StormGain provides customers with access to a knowledge library and video tutorials where they can get answers to all of the frequently asked questions about the platform and learn more about its capabilities. It is simpler to search the knowledge base because it is divided according to the many items available on the platform. StormGain makes good use of its social media presence, which you can follow to stay up to speed on deals and changes.
StormGain fees
Let’s analyze the fee structure of the exchange as the very next part of this StormGain review. In contrast to companies like Binance and Coinbase, which impose spread and trading commission fees, StormGain’s business strategy is based on a no-gain, no-cost approach. All StormGain has to do is take a 10% profit split from winning trades. You may need to pay a commission on exchange services if you do not hold Tether. Commission charges vary based on the currency and might be between 0.095% and 0.25%.
The fee rates for the platform’s most liquid cryptocurrency trading pairs are the lowest, while the commission rates for the remaining trading pairs are the highest. On the other hand, StormGain has a unique commission structure for leverage trading. It only charges a 10% commission as profit sharing on profitable transactions; it does not charge a commission for trading. This is a creative way to handle trading costs, making StormGain stand out from other exchanges. The daily financing rate for long positions in leveraged cryptocurrency transactions is 0.10 -0.30%, while the range is 0.10 -0.30% for short ones.
Regarding fundraising methods, the platform accepts both cryptocurrency and fiat money. It costs $10, whichever is less, in commissions and allows fiat on-ramps via bank cards. The maximum amount that may be deposited using fiat currency is USD 50 and EUR 50. Visit the website to check the limit for additional fiat currencies. It accepts Tether, BTC, BCH, ETH, LTC, and XRP for cryptocurrency deposits; the minimum deposit amounts for each coin vary. A 15% bonus is available at StormGain for every deposit.
Each cryptocurrency on StormGain has a different minimum amount. For example, the minimum deposit for ETH is 0.001 ETH, while the minimum deposit for BTC is 0.00003 BTC. For these transactions, StormGain does not impose any fees. The minimum amount required for withdrawals varies depending on the cryptocurrency. The minimum Tether withdrawal is unrestricted. On the other hand, there is a set cost of 35 USDT and an extra charge of 0.01% for withdrawals. Similarly, there is a fixed cost of 0.0006 BTC and an additional fee of 0.01% for withdrawing, with a minimum withdrawal value of 0.0014 BTC. You can use the exchange services directly from the StormGain app.
Is StormGain the Best Crypto Exchange for You?
To sum up our StormGain review, we must say that the exchange offers innovative services with cheap exchange and commission rates. The site is an excellent place for newbies interested in cryptocurrency trading to start because of its user-friendly layout and educational videos. For more seasoned investors, the large multipliers and cloud mining tool make it an appealing choice.
