Tokocrypto

What is Tokocrypto？

Established in 2017, Tokocryptoe operates from Indonesia and boasts a selection of over 200 cryptocurrencies for trading. It records a robust 24-hour trading volume of $360 million. The trading fees are simple and moderate, with maker fees set at 0.1% and taker fees at 0.2%.

Pros and cons

Regulatory Authority

Tokocrypto is regulated by the Indonesian Commodities and Futures Trading Supervisory Agency (BAPPEBTI), a regulatory agency under the Ministry of Trade in Indonesia. However, it is confirmed that Tokocrypto operates under regulation and is classified as a regulated exchange. The exchange holds a Digital Currency License with the license name “PT. CRYPTO INDONESIA BERKAT”. This license allows Tokocrypto to operate as a virtual currency exchange in Indonesia, ensuring compliance with relevant laws and regulations.

Security

Tokocrypto boasts that it places a high importance on security and employs several security measures to safeguard users' funds.

Cold storage: The majority of Tokocrypto's user funds are stored in cold storage, which means that they are offline and not connected to the internet. This makes them much more difficult to hack.

Multi-signature wallets: Tokocrypto's hot wallets use multi-signature wallets, which require multiple signatures to approve withdrawals. This makes it much more difficult for unauthorized individuals to withdraw funds from the exchange.

2-factor authentication (2FA): Tokocrypto requires all users to enable 2FA on their accounts. This adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

Regular security audits: Tokocrypto undergoes regular security audits by independent security firms. This helps to identify and address any security vulnerabilities that may exist.

Hacking insurance: Tokocrypto has a hacking insurance policy that covers up to \$10 million in losses in the event of a hack. This helps to protect users in the event that the exchange is hacked.

Cryptocurrencies available

Tokocrypto offers a wide variety of cryptocurrencies to trade, with over 200 coins available. Some of the most popular cryptocurrencies on Tokocrypto include:

Bitcoin (BTC) \ Ethereum (ETH) \ Tether (USDT) \ Binance Coin (BNB) \ XRP (XRP) \ Dogecoin (DOGE) \ Solana (SOL) \ Cardano (ADA) \ Terra (LUNA) \ Avalanche (AVAX)

Tokocrypto is constantly adding new cryptocurrencies to its platform. The coin listing speed is relatively fast, with new coins being added on a regular basis. However, Tokocrypto does have a vetting process for new coins, and it only lists coins that it believes are safe and reliable.

How to register on Tokocrypto？

Here are 7 steps on how to open an account on Tokocrypto:

Go to the Tokocrypto website and click on the “Register” button.

2. Enter your email address and create a password.

3. Read and agree to the terms and conditions.

4. Click on the “Create Account” button.

5. You will receive an email from Tokocrypto with a verification link. Click on the link to verify your email address.

6. Once your email address is verified, you will be able to log in to your account.

7. You will need to complete your KYC (Know Your Customer) verification before you can start trading.

Fees

Tokocrypto uses trading fees that depend on trading volume. Both the taker and maker fees are 0.1%. But if you use TKO, you get discounts: 25% off for maker and taker fees. Every day at 00:00 AM (UTC), they look at your trading volume for the last 30 days. Then, at 01:00 AM (UTC), they update your Tier level and the fees you pay.

Deposit & Withdrawal

When you deposit cryptocurrencies on Tokocrypto, there are no charges. However, fees apply to crypto withdrawals, and these fees can vary. If you're depositing via e-wallets like GOPAY, DANA, ShopeePay, or LinkAja, there's a 2% fee.

Has Tokocrypto experienced any controversy？

Tokocrypto has experienced a few controversies since its inception in 2017:

In 2020, Tokocrypto was hacked and $1.8 million worth of cryptocurrency was stolen. The exchange was quick to reimburse its users for the losses, but the hack did raise concerns about the security of the exchange.

In 2021, Tokocrypto was fined $1 million by the Indonesian government for violating anti-money laundering regulations. The exchange was found to have failed to properly verify the identities of its users and to have processed transactions for sanctioned individuals.

In 2022, Tokocrypto was accused of insider trading by a former employee. The employee claimed that he had been tipped off about upcoming listings on the exchange and had used this information to make profitable trades. Tokocrypto denied the allegations, but the controversy damaged the exchange's reputation.

Compare BitMart with other exchanges

Features
Trading Fees	Taker fees: 0.1%Maker Fees: 0.1%	Maker: 0.04%, Taker: 0.075%	Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%	Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies	200+	500+	11	200+
Regulation	Regulated by BAPPEBTI	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)