triv

Overview of triv

TrivExchange is a prominent Indonesian cryptocurrency exchange known for listing various digital assets and supporting a wide range of transactions. Recently, TrivExchange announced the addition of BoneShibaSwap (BONE), a governance token for the Shiba Inu decentralized exchange, allowing users to deposit and withdraw BONE via the Ethereum network. Alongside BONE, the exchange has also included support for Bitget Wallet Token (BWB) and Bitget Token (BGB), expanding its portfolio of supported tokens.

Pros and Cons

Regulatory Authority

The exchange is regulated by BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan) in Indonesia, indicating that it operates under the supervision and oversight of the regulatory authority. The specific license number is currently undisclosed. The License Type held by the exchange is a Digital Currency License.

Security

Triv employs multiple safeguards to safeguard user funds.

These measures include requiring multi-factor authentication (MFA) for login and combining password entry with a code from the user's phone. Cold storage is extensively used to store most user funds offline, detaching them from the internet to heighten protection against cyber threats.

The platform also engages in periodic security audits conducted by independent security firms, proactively identifying and addressing potential vulnerabilities.

Furthermore, Triv incentivizes security by offering a hacker bounty program, rewarding those who uncover and report platform security weaknesses, enhancing its resilience against breaches.

Despite these efforts, no exchange can guarantee complete security. Therefore, it remains essential for traders to be cautious when storing funds on any platform and to only risk what one is willing to lose.

Services

Triv provides the utility of a 'triv Wallet' to its clients available on Android devices, adding a layer of convenience to their trading and transactional experience.

Beyond accommodating the standard function of holding and transferring cryptocurrencies, the triv Wallet extends its capabilities to include features like credit top-ups, purchasing electricity tokens, and bill payments. These functionalities transform the Triv Wallet into a multi-purpose facility for integrated finance and trading, thus offering a holistic ecosystem that focuses on enriching the everyday financial transactions of its clients.

triv Mobile App

triv offers a triv mobile application,available on both Android and iOS platforms, which enables users to manage their digital asset portfolio on the go.

From buying and selling to staking cryptocurrencies, all possible transactions can be executed through this single, compact platform. Especially designed for the Indonesia market, the application provides a well-rounded experience of tracking, structuring, and enhancing one's digital asset portfolio.

With such an all-inclusive application, Triv streamlines and simplifies the crypto trading process for users, introducing convenience, speed, and efficiency into their trading journey.

How to Open an Account？

The registration process for triv can be completed in six simple steps.

1. Visit the triv website and click on the “Sign Up” button to begin the registration process.

2. Provide your email address and create a password for your account.

3. Verify your email by clicking on the verification link sent to your registered email address.

4. Complete the KYC (Know Your Customer) process by providing your personal information, such as your full name, date of birth, and residential address.

5. Upload the required identification documents, which typically include a valid government-issued ID and proof of address.

6. Once your documents are reviewed and verified, your triv account will be activated, and you can start trading on the platform.

How to Buy Cryptos

To transact buying cryptocurrency or virtual currency on Triv, you must first login to your account.

1. Click Buy on your account Dashboard (see the top left of your screen).

2. Select the Asset you want to buy.

3. Choose Rupiah if you want to pay using local banks, such as Bank Mandiri, Bank BCA and other local banks.

Choose Vmoney if you want to pay with Virtual Currency such as Bitcoin, Perfect Money. You can also choose to pay using OVO DANA LINKAJA.

4. You will be taken to the Ivepay page (the payment gateway) to pay.

5. After making a payment you do not need to confirm, the system will automatically detect your payment and review your payment and order and related matters (takes approximately 30-120 seconds).

6. Order completed.

Fees

Triv's trading platform operates on a maker-taker fee model. A taker, who quickly adds liquidity to the market by placing an order that gets immediately fulfilled, incurs a nominal taker fee of 0.1% for each transaction. For example, if there exists a sell order of 1 bitcoin for 60,000,000 IDR and you buy a bitcoin for the same price, your transaction gets fulfilled instantly and you'd be considered a taker.

On the other hand, a maker, who places an order that isn't immediately matched, contributes to the market's depth and is rewarded with zero-fee transactions. In the event where your order is partially filled instantly and the rest later, the immediately filled part is considered a taker's order while the rest is tagged as a maker's order. So, for example, if there's a buy order for 1 bitcoin at 59,000,000 IDR and you place a sell order for 59,500,000 IDR, your transaction is seen as a maker's order and attracts no charges.

Deposit & Withdrawal

Triv supports a wide range of payment methods, accommodating 61 banks and e-wallets in Indonesia to process transactions. Funding through cryptocurrencies is also available. This grants a high degree of versatility and convenience to their users, allowing them to choose a payment method that they are most comfortable with.

In addition, Triv is committed to ensuring that transactions are processed quickly and efficiently, offering a 24/7 real-time deposit and withdrawal feature. This ensures that users can engage in trading and funds management at any time they choose, even during the weekend.

Controversies the Exchange Has experienced

In 2021, Triv was accused of insider trading after a large sell-off of HCoin, the exchange's native cryptocurrency. However, Triv denied the allegations and said that the sell-off was due to technical issues.

In 2022, Triv was criticized for its slow customer support response times. Some users reported waiting days or even weeks for a response to their queries. Triv has since said that it is working to improve its customer support.

FAQs

Q: Is triv regulated？

A: Yes. It is regulated by BAPPEBTI.

Q: How can I contact the customer support team at triv？

A: You can contact via phone, 021 4020 0828 and email help@triv.co.id and other methods.

Q: Except for cryptocurrency trading, what kind of other products and services does triv offer？

A: triv also offers US Stocks trading and wallet service to traders.

Q:What's the trading fee of triv？

A: triv charges no maker fee and 0.1% taker fee.