- Strong security features
- Decentralized cryptocurrency exchange
- Ability to invest in ICOs
- Not very user friendly
- Not well established
- No mobile trading
Orderbook is an innovative Ethereum cryptocurrency exchange and ICO platform that enables traders and investors to get in on the ground floor with new and emerging cryptocurrency projects. Orderbook is owned and operated by Ambisafe, a b2b product company providing blockchain solutions, cryptocurrency tools, and smart contracts. Ambisafe was established in 2015 and launched Orderbook in 2017 to accommodate the massive demand for access to ICOs and Ethereum based tokens. Since Orderbook’s establishment, 30347 smart contracts have been deployed, 12 successful ICO projects were completed, and $35 million has been raised using Orderbook.
Orderbook provides their users with the highest level of security and usability for buying and selling Ethereum cryptocurrency assets and contributing to new ICO projects to become an early contributor and reap the benefits. The entire Orderbook system is highly sophisticated and advanced, providing users with a never before seen system for investing and trading in cryptocurrency projects. In the following review we delve into the aspects that make up this lucrative and innovative platform and discover the services they provide and whether or not they can be trusted.
Orderbook features two proprietary web-based trading platforms, one for trading cryptocurrencies and one for investing in ICOs. Both platforms are very innovative and different from your traditional cryptocurrency investment platforms. See them overviewed below.
Cryptocurrency Trading Platform
This platform is a decentralized trading platform based on the Ethereum blockchain and operates via smart contracts for a safe, secure, and transparent trading experience of Ethereum token assets. The platform is somewhat advanced and has a bigger learning curve than other exchange platforms we have seen. Right on the platform, traders can view information on the Ethereum token they are trading and see the trade history and other aspects that effect its price action. The platform also features unique security features based on Ethereum smart contracts.
The ICO platform allows users to learn about upcoming ICO projects and pick which ones to invest in before they go live. All ICO projects are extensively screened to determine their integrity and undergo a series of legal compliance checks to ensure a safe environment for traders. Once the ICO token sale is completed, the ICO tokens become available on the secondary market (their cryptocurrency trading platform).
Orderbook only features ERC20 tokens (Ethereum based tokens) and ICOs on their cryptocurrency trading platform and ICO platform. This is because the exchange runs on the decentralized Ethereum blockchain through smart contracts. However, users can also store Bitcoin (BTC) and US Dollars (USD) on their Orderbook account for investing in new ICO projects. See a list of the supported ERC20 assets available to exchange below.
Fees and Commission
Orderbook has very high fees compared with most other cryptocurrency exchange services. They impose various fees for different aspects of their services and they can add up fast. See below, the applicable fees Orderbook imposes on their users.
- Otherwise known as network fees, Orderbook takes a fee to cover the cost of each transaction on the blockchain which is determined by the network.
- The trading fee is 0.2% on each trade
- There are no deposit fees for Ethereum or ERC20 token
- Bitcoin deposit fee is 0.001 BTC
- US Dollar (USD) deposit fee is $10.00
- Bitcoin withdrawal fee is 0.0015 BTC
- Ethereum withdrawal fee is 0.015 BTC
- USD withdrawal fee is $65.00
- ERC20 token withdrawal fees vary
- Trade cancellation fees are charged in the users base currency
Security and Fairness
Orderbook is a very safe and secure cryptocurrency exchange as it is runs on the decentralized Ethereum blockchain through smart contracts. Therefore, the entire trade history is available for anyone to audit and manipulation is impossible. Also, customer funds are stored on chain, meaning the Orderbook owners never have access to the customers funds. Also, this allows customers to trade directly with each other and each user has a unique user contract that stores their assets. Each contract is fortified by 2 of 3 multi-signature keys that protect user funds even in the event of a hack. Users can also recover their funds using two factor authentication and multi-signature keys.
Orderbook provides their customers with support via email and live chat that’s available 24 hours a day, 7 days a week. The support received is generally very good and support representatives will often point you in the right direction with helpful tutorials found on the websites online knowledge center. The knowledge center features FAQs, how to articles, guides, and more. All in all, the customer support provided by Orderbook is pretty good, but it’s lacking telephone support which would be very helpful as Orderbook is such a new and different crypto exchange.
Orderbook is an innovative decentralized ERC20 cryptocurrency exchange that’s trying to revolutionize the cryptocurrency trading industry. The services provided by Orderbook are quite sophisticated and better suited for experienced cryptocurrency users rather than beginners. They provide the ability to participate in new ICOs and later trade their tokens on their decentralized cryptocurrency exchange. All in all, the services provided by Orderbook are very unique, but require a bit of polishing and clarity for the average cryptocurrency user.
The following are the common questions that customers inquired about Orderbook.
Is Orderbook regulated?
No, it is not regulated.
Is Orderbook a scam?
No, Orderbook is established by a reputable company and provides real services.
Where is Orderbook based?
Orderbook’s headquarters are not located anywhere on their website or their founding company, Ambisafe’s website.