Satang

Overview of Satang

Satang Corporation Company Limited, commonly known as Satang, stands as a foremost authority in cryptocurrency within Thailand. Its roots trace back to the founder's establishment of Zcoin, a cryptocurrency renowned for its emphasis on privacy. Partnering with the Thai government, Zcoin's goal is to streamline digital transactions and bolster the security of digital assets.

While Satang might not boast a plethora of features due to its relative novelty in the cryptocurrency exchange realm, it compensates by prioritizing security and maintaining low fees.

Satang Pro offers a user-friendly mobile app, available on both Android and iOS platforms. Some of its top-tier features include the buying and selling of cryptocurrencies and a comprehensive portfolio check. Additionally, the app is integrated with the Promptpay system, featuring built-in QR codes for seamless payments, enabling users to harness their cryptos for daily transactions and investments within Thailand.

Touted as Thailand's pinnacle of high-security exchanges, Satang Pro diligently applies AML, 2FA, and KYC protocols to safeguard user assets and data. Its acclaim as the sole regulated digital asset exchange in Thailand is underpinned by the prestigious ISO 27001 Standard Security Certificate. Attaining this certificate mandates a rigorous security audit by SCI Qual International, ensuring the fortified protection of information security management systems against any unauthorized or malicious activities.

Satang extends customer support in both English and Thai languages. However, it lacks a live chat feature. Users in need of technical support can reach out via email or submit queries through the online ticketing system. Additionally, local customers have the option to directly phone Satang's office in Bangkok.

Pros and Cons

Pros

• Security Priority: As Thailand's only high-security exchange, Satang Pro implements rigorous AML, 2FA, and KYC measures to protect user funds and data.

• Regulatory Compliance: Satang boasts of being the only regulated digital asset exchange in Thailand, further cementing its reputation for safety.

• Mobile App: The Satang Pro mobile app, available on both Android and iOS, provides users with features like buying/selling cryptocurrencies and portfolio management. It also supports the Promptpay system with built-in QR codes for payments.

• Local Collaboration: Established ties with the Thai government and its background with Zcoin showcases its dedication to fostering digital transactions and promoting digital asset security in Thailand.

Cons

• Limited Investment Opportunities: Satang does not currently offer a variety of investment options.

• Novelty: Being relatively new in the cryptocurrency exchange world means it might not yet have the depth of features or the established trust that longer-standing exchanges possess.

• Subpar Customer Support: The overall customer support experience is not rated highly by users, which is due to late replies and insufficient customer service.

• Not-so-good User Experience: Some users may find the website experience less than optimal or not user-friendly.

Regulatory Authority

Satang Corporation Co., Ltd. is regulated by the Securities and Exchange Commission (SEC) of Thailand. The exchange operates under a regulated status, indicating that it complies with the regulatory requirements set by the SEC. Satang holds a Digital Currency License, which allows it to legally operate as a virtual currency exchange. The license is issued by the Securities and Exchange Commission, ensuring that Satang is authorized to provide its services in the virtual currency trading industry.

Security

Satang is regulated by the Securities and Exchange Commission (SEC) of Thailand. This means it adheres to stringent guidelines and requirements set by a reputable regulatory body, ensuring its operations maintain a certain standard and are monitored for compliance.

Besides, Satang has implemented widely recognized security practices, including two-factor authentication (2FA). 2FA provides an extra layer of security by requiring users to verify their identity using a second method, in addition to the password. This ensures that even if someone knows a user's password, they won't be able to access the account without the second verification method.

With these measures, Satang showcases its commitment to maintaining a secure environment for its users in the ever-evolving landscape of digital currency trading.

Cryptocurrencies Available

Satang Corporation Co., Ltd. offers several cryptocurrencies for trading on its platform. Some of the cryptocurrencies available include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH). These cryptocurrencies are known for their popularity and market liquidity.

The prices of cryptocurrencies are subject to fluctuations on exchanges, including Satang. This means that the value of cryptocurrencies can rise or fall depending on market conditions and investor demand.

How to Open An Account？

• Visit Satang's official website and click on the “Register” button. Fill in the required information, such as your email address and password, to create a new account.

  

• Verify your email address by clicking on the verification link sent to your registered email. This step ensures that the account is associated with a valid email address.

• Complete the Know Your Customer (KYC) verification process by providing necessary personal information, such as your full name, date of birth, and residential address. Upload any required identification documents, such as a passport or national ID card, to verify your identity.

• Wait for the KYC verification to be processed. This step may take some time as Satang reviews and verifies the submitted documents.

• Once the KYC verification is approved, you will receive a confirmation email indicating that your account is ready to be used for trading.

• Log in to your account using the registered email and password. Set up additional security measures, such as two-factor authentication (2FA), to enhance the security of your account. You can now start depositing funds and trading cryptocurrencies on Satang's platform.

Fees

• Flat Fee Model: Unlike some exchanges which charge different fees for makers and takers, Satang Pro charges a uniform fee for both. This fee structure is termed as a “flat fee model.”

• Standard Trading Fee: For every trade on the platform, a flat fee of 0.20% is levied. This rate is in alignment with the global industry average, making it competitive for traders.

• Fee Example: For a better understanding, consider two traders - Ingvar and Jeff. If Ingvar wishes to buy 1 BTC at USD 10,000 and Jeff wants to sell 1 BTC for USD 11,000, and a third person, Bill, sells 1 BTC to Ingvar at USD 10,000, Bill removes Ingvar's order from the book and thus incurs the taker's fee. However, if Bill had set his selling price at USD 10,500 without matching an existing order, he would be a maker. Upon successful completion of such a trade, both parties would be charged the flat fee.

• Trading Fee Discounts: Satang Pro incentivizes high-volume traders by offering them reduced fees. For those who have substantial trading volumes over the past 30 days, the fees can be reduced to as low as 0.12% for both takers and makers. This discount is applicable for traders with a volume exceeding THB 320 million (approximately USD 9.8 million as of the current conversion rates).

Deposit & Withdrawal

• Withdrawal Fees:

Satang Pro charges a withdrawal fee of 0.0005 BTC for every BTC withdrawal.

This fee is competitive and is slightly below the global industry average, which was found to be approximately 0.00057 BTC per BTC withdrawal in a recent study by Cryptowisser.

• Deposit Methods:

Wire Transfer: Satang Pro supports wire transfers as a method for depositing funds. However, credit card deposits are not accepted, which may be a limitation for users who prefer or are accustomed to using their credit cards.

Fiat Currency Deposits: Unlike some cryptocurrency exchanges that only accept cryptocurrency deposits, Satang Pro allows fiat currency deposits, setting it apart from many of its competitors.

• Deposit Processing Time:

Thai Bank Accounts: Deposits made from Thai bank accounts are processed relatively quickly, usually within a 24-hour timeframe.

Non-Thai Bank Accounts: For those using non-Thai bank accounts, the processing time can vary. It may take up to 7 days for the deposit to be completed. However, in many cases, it could be processed faster.

Cryptocurrency Deposits: These are the quickest, typically taking between 1-2 hours. The exact time can vary based on the specific blockchain network being used.

Educational Resources

Satang Corporation Co., Ltd. offers educational resources to help users gain knowledge and understanding of virtual currency trading. These resources include online tutorials, guides, and potentially other tools such as video tutorials or webinars. These resources aim to provide users with valuable information and insights to make well-informed trading decisions.

Customer Support

• Telephone:

• Customers can reach Satang's support team via telephone at (+66)2-0266107. This offers a direct and immediate way to address any queries or concerns.

• Email:

• For those who prefer digital correspondence or have detailed inquiries, Satang provides an email support option. Customers can email their questions or concerns to support@satangcorp.com.

• 24-Hour Live Chat:

• Satang stands out by offering a 24-hour live chat feature. This ensures that customers from different time zones or those with urgent queries can get real-time assistance regardless of the hour. This is especially beneficial for users who are actively trading and may need immediate support.

Is Satang A Good Exchange for You？

Satang Corporation Co., Ltd. can cater to various trading groups due to its range of available cryptocurrencies and regulated status. The following target groups may find Satang suitable for their trading needs:

• Beginner Traders: Satang offers a user-friendly platform and educational resources that can benefit beginners who are new to virtual currency trading. The platform's intuitive interface and potentially available guides or tutorials can help beginners navigate the trading process and gain a basic understanding of how to trade different cryptocurrencies.

• Experienced Traders: Experienced traders who are familiar with virtual currency trading and want access to a regulated exchange may find Satang appealing. The exchange provides popular cryptocurrencies known for their market liquidity, allowing experienced traders to execute their strategies efficiently.

• Thai Investors: As a Thai-based exchange regulated by the Securities and Exchange Commission (SEC), Satang may be particularly suitable for Thai investors seeking a local exchange. The availability of THB trading pairs and various deposit and withdrawal methods that cater to the Thai market can streamline the trading experience for Thai investors.

• Security-Conscious Traders: Satang prioritizes security measures, such as two-factor authentication (2FA), to protect user assets and information. Traders who prioritize security when selecting an exchange may consider Satang as a suitable option due to its emphasis on safeguarding user accounts.

• Traders Seeking Thai Community Support: Although specific information regarding community support platforms is not provided, Satang's focus on the Thai market suggests the potential availability of Thai community support. Traders who prefer communicating with fellow users or seeking assistance from a local community may find Satang appealing.

• Individuals Seeking a Regulated Exchange: The fact that Satang is regulated by the Securities and Exchange Commission (SEC) can be a significant factor for individuals who prioritize trading on a regulated platform. The regulatory oversight provides an added layer of assurance in terms of compliance, consumer protection, and adherence to industry standards.

FAQs

Q: What deposit and withdrawal methods does Satang support？

A: Satang supports various deposit and withdrawal methods, including THB Bank Transfer, PromptPay, and Thai Mobile Wallets.

Q: What is the processing time for deposits and withdrawals on Satang？

A: The processing time for deposits and withdrawals may vary depending on the selected method. Generally, THB Bank Transfer and PromptPay deposits are processed within the same day or within a few hours. Withdrawals through THB Bank Transfer and PromptPay can take 1-2 business days to be completed. Withdrawals to Thai Mobile Wallets are typically processed instantly.

Q: What educational resources are available on Satang？

A: Satang offers educational resources such as online tutorials and guides to help users gain knowledge and understanding of virtual currency trading.

Q: How can I contact Satang's customer support？

A: You can reach Satang's support team via telephone at (+66)2-0266107, email their questions or concerns to support@satangcorp.com or use the 24h live chat.

Q: Who would find Satang suitable for their trading needs？

A: Satang may be suitable for various trading groups, including beginner traders, experienced traders, Thai investors, security-conscious traders, traders seeking Thai community support, and individuals seeking a regulated exchange.

Satang User Review

User 1:

I've been using Satang for a few months now, and I appreciate the emphasis they place on security. The platform is straightforward to use, especially on the mobile app. While they might be new in the market, their dedication to user security is commendable. I hope to see them expand their features soon.

User 2:

Satang Pro's user interface is quite intuitive, making my trading experience smooth. However, I've noticed they don't offer as many features as some other well-established platforms. Their customer support can be more responsive, but overall, it's been a decent experience so far.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.