Stellarport Experience 2021 - the Crypto Exchange Test
10 Stars
Over 140,000 traders enjoy their Stellarport experience every month. The range of cryptocurrencies is very large and almost no other crypto exchange can keep up with the number.
But what else makes Stellarport's trading platform so special?
It is one of a few decentralised exchanges on the market. This means that there is no one person or group of people overseeing the trading platform. There are a maximum of ten people working for Stellarport and the founder doesn't seem to need more than that.
The exchange seems a bit like a one-man show. The website is simply programmed and you can still find your way around intuitively.
But how can you trade cryptos via the website and is it at all secure?
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Stellarport advantages and disadvantages
One has a very wide choice of cryptocurrencies to trade through Stellarport. However, at the moment at least, no FIAT currencies are supported. Also, there is no way to contact customer service as it is a decentralised exchange.
This means that no person or programme monitors the platform. This makes it easier for fraudsters to look for possible victims undisturbed. However, you are also completely invisible on the net. You don't have to provide any personal data and the key to the wallet is only stored for a short period of time.
In addition, Stellarport fees are only charged for withdrawals and sellers of coins have to verify ownership via Stellarport. However, the FAQ page could be expanded and more instructions added.
Stellarport Review - the offer
Stellarport's platform only allows the sale and purchase of cryptocurrencies. No FIAT currencies are supported, but this will change in the future. Also, one cannot trade stocks, commodities, CFDs or other commodities.
One already needs cryptos to be able to take advantage of the Stellarport offer. In addition, you should be familiar with trading, as some scammers are also up to their mischief on the platform. Thus, trading via the platform is rather intended for experienced investors.
Cryptocurrencies
And many more. Since there are several hundred different coins, not all available ones are listed here. After registration, the site has its own overview with all possible cryptocurrencies.
If you are interested in trading cryptocurrencies, you would be well advised to read our instructions. Besides Bitcoin, there are many other cryptocurrencies available for you to buy and trade - including IOTA, Ripple, Litecoin and many others.
Stellarport Fees & Charges
Apparently, the operators of Stellarport do not charge any fees of their own for trading, selling and buying cryptocurrencies. Deposits are also free and you only have to pay the fees of the network. Only withdrawals from the website incur Stellarport fees. These are either 0.5% or a fixed value:
Coin | Withdrawal fee |
|---|---|
BTC | 0.5% or 0.0005 |
ETH | 0.5% or 0.0025 |
XRP | 0.5% or 0.25 |
LTC | 0.5% or 0.005 |
There are no other costs via Stellarport. However, you should familiarise yourself with the fees before signing up, as each update can also lead to a change in the fees. In addition, the fees of the network of each cryptocurrency also vary, so that one should check the costs again with each payment. This will help you avoid surprises.
Stellarport payment methods
At the moment, only deposits via cryptocurrencies are allowed. The company is already working on allowing deposits in American dollars and euros as well. Those who do not yet own any digital currencies can purchase cryptos via another platform.
One possibility, for example, is eToro. The platform already allowed the purchase of cryptos via a FIAT currency some time ago. Coinbase or the crypto exchange Binance also allow the purchase of Bitcoin, Ethereum, Ripple and Litecoin via euros and other currencies.
As long as Stellarport does not accept FIAT currencies, you will have to take the diversions via another exchange. However, since the company is already working on a solution, it will probably not be long before the possibility is also allowed via Stellarport.
Payment method | no/yes |
|---|---|
Credit cards | no |
Paypal | no |
Instant bank transfer | no |
Skrill | no |
Neteller | no |
Paysafecard | no |
Bank Transfer | no |
Cryptocurrencies | yes |
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
Licence and security
It is a licensed and monitored cryptocurrency exchange platform. Stellarport is listed in Crunchbase and is ranked 247,529 in the CB ranking. The founder is Ishai Strauss and he spends most of his time in the chat. There he answers questions and helps with problems.
Otherwise, the texts state that security is entirely in the hands of the traders. Of course, all websites are protected by SSL encryption and you don't have to enter any data. This means that you can move around the net almost invisibly and move money. However, fraudsters have it just as easy.
The verification button helps to differentiate, but you still have to do some research yourself. For example, Stellarport recommends that you check the domain and only trade coins that have been verified.
You also get a recovery code at the beginning, which you need to restore your account if you forget your password.
Trading via the platform seems to be something for more advanced traders and not for beginners. Exchanging cryptocurrencies is already considered very speculative because of the strong price fluctuations. Buying digital currencies via eToro or Coinbase might be the better option for newcomers. There, you run less risk of losing your money to fraudsters.
Last but not least, you should never pass on your access data and the personal key of the wallet to third parties or store them openly. This guarantees that no one other than yourself can access the stored coins.
Customer Service, Contact & Support
Almost every website has a customer service, so that the user can contact the operators in case of difficulties or wishes. However, Stellarport is different. There is no email, telephone number or contact form for the users of the platform, but only a live chat.
Here, however, one is not connected with an employee of the company, but with other traders or the founder of Stellarport personally. You can ask all kinds of questions or help the other people in the community.
You don't have to open an extra chat window for this, but you can talk directly in the same browser tab. The language is mainly English, although sometimes there are discussions in Indian or another language.
However, there is a section for FAQs. Stellarport recommends that one reads the security advice given here carefully, otherwise one becomes easy prey for scammers. Here, some security advice is given and instructions are provided, for example, for deposits and withdrawals.
|
|
|---|---|
phone | no |
no | |
Live chat | yes |
contact form | no |
FAQs | yes |
In addition, the structure of the Stellarport platform is explained in more detail and how the programmes work. However, it is not possible to leave comments here either. The only possibility for direct contact is to leave a review in the Google Play Store. On some Stellarport experiences, a staff member has left a message. Otherwise, you have to seek help in the community.
However, the platform is also present on social networks. You can send a message to the operator via Facebook, Instagram, Twitter and Telegram.
Registration and trading
Step 1: Registration
To open your own account, all you need is a desired nickname and a password with at least ten characters. As soon as you have entered the data, you will be asked to enter a "Recovery Phrase", which you should keep in a safe place.
As soon as you have saved the text, the programme asks you to enter the recovery phrase for verification. Only then are you redirected to the next page. Directly after that, you will find the deposit options.
On the start page, the website points out a security notice that every new user should read carefully. There you will find important information on how a decentralised exchange works. For example, Stellarport recommends that you only trade coins that have been verified by the platform.
This prevents you from becoming an easy victim of fraudsters. But even if the asset has been verified, one should scrutinise the seller carefully. The name of the domain is displayed for each trader and one has to accept it manually.
Furthermore, one should click on the small blue arrow next to the address and take a closer look at the website. If you trust the platform indicated, you can go ahead with the purchase. All information and tips on this can be found in the Zendesk section of the website.
In order to be considered a verified trader and to really own the coin, you have to provide the address and verify it via a special document. In this way, Stellarport wants to prevent you from owning more than just a counterfeit version.
Step 2: The deposit
Since only deposits with cryptocurrencies can be made at the moment, the wallet link is explained here. After logging in to Stellarport, you will find a "Deposit" button at the top right.
You will then be redirected to another page where you can select your preferred currency. To illustrate the next steps, XRP was selected for the test. Of course, the deposit works the same with every cryptocurrency.
Directly after the selection, the special instructions are displayed under the button of the currency.
One has to send the coins to a special Ripple address and the TAG "98" has to be included in the payment. There is also a maximum limit of 20,000 XRP for automatic execution. Anything over this amount requires manual confirmation. A minimum of 5 XRP must also be transferred, otherwise the payment will not be approved.
Within a few minutes, the funds should then have arrived in the Stellarport customer account. When transferring funds to a new Stellarport wallet, one should follow a link after one minute at the latest. This is related to a special process of Stellarport. Of course, you only have to do this once when opening the wallet.
Important notes
It is important here that a certain amount of the deposited cryptocurrency is converted into XLM when activating the Stellarport Wallet so that the account can be activated. After the account has been equipped with XLM, one has to return to the previous page once again to complete the deposit process.
Of course, there is also a deposit history where you can find all the receipts listed, what amount was credited, when and if the transaction was successful.
Sometimes you still have to confirm a credit. If the status is "Waiting_For_Trust", you should go back to the "Deposit" tab and select the deposited asset.
In the next window you will find the button "Create [selected cryptocurrency] Trustline". After that, the account should be credited and one does not have to repeat the process for the next deposits.
Step 3: Trading
The important thing about a decentralised exchange is that no one monitors the transactions and no one person controls the exchange. Therefore, anyone can create a buy order or sell order and list a token. This means that anyone can list their own cryptocurrency for sale.
However, as soon as you want to buy or sell a coin, there are two different trading options.
The limit order: Here you can set the maximum price when buying and the minimum price when selling. As long as there is no suitable counter-offer that matches the settings made, the order is not executed.
The market order: Here, the order is executed immediately if there is any counter-offer. No matter what price is asked. Therefore, this trading option is less recommendable and should only be carried out in extreme emergencies.
In general, however, you can offer all currencies and demand any cryptocurrency supported by the site in return. However, one should look at the rates of the desired cryptos beforehand and analyse the trends. Otherwise, one could lose a lot of money in case of an acute drop in the desired currency.
Once one has made a purchase, one will get the wallet address of the seller and has to transfer the pre-determined amount to the digital wallet. In return, one then receives the purchased cryptos. But here, too, one has to confirm the currency in the wallet beforehand, as it was explained in step 2.
Step 4: The payout
The withdrawal of coins to an external wallet works similarly to the deposit. First you have to log into your account and then click on the tab "Withdrawal". Again, select the desired currency and follow the instructions on the screen.
Stellarport charges fees for all withdrawals, which are listed earlier in the article. Withdrawing coins can take some time, but you should have the cryptos in your wallet after one day.
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Incl. wallet
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Regulated provider
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The Stellarport App
Of course, the Exchange also has its own app for trading on the move. Here there is a special feature. The programme is only available in the Google Play Store and the Microsoft Store. An iOS version is not yet available.
Whether this will change in the near future is not yet known. The Android and Microsoft versions are each ten megabytes in size and receive regular updates.
The application in the Google Play Store has already been rated six times, each time with five stars. However, such a number of ratings is not particularly meaningful.
Conclusion - the Stellarport rating
Stellarport's platform has some advantages and some weaknesses. The decentralised exchange allows for invisible trading on the net, but it also allows fraudsters to remain undetected. In addition, the operators allow you to offer any coin you want. However, it does not even have to actually exist, which often makes beginners victims.
The offer in general is very comprehensive and one can exchange numerous coins of different cryptocurrencies with each other. So far, almost only the crypto exchange Binance offers such a variety. One advantage of the pure crypto trading platforms, however, is that one does not have to provide any personal data.
This seems to go down well with users, because Stellarport has over 140,000 visitors a month, and the number is constantly rising. Despite cryptocurrency prices falling so much at the end of 2017, the desire for independence and freedom seems to remain.
But a major shortcoming is that there is no direct way to contact support. Only a chat exists, in which the founder is apparently personally active and provides help and tips. On the whole, it is worth taking a look at Stellarport's trading platform, even if you might need to gain a little experience first.
Also, at the moment you still need cryptocurrencies before actually trading. Depositing via FIAT currency is not yet allowed, but will be added in the foreseeable future.
But a major shortcoming is that there is no direct way to contact support. Only a chat exists, in which the founder is apparently personally active and provides help and tips. On the whole, it is worth taking a look at Stellarport's trading platform, even if you might need to gain a little experience first.
Also, at the moment you still need cryptocurrencies before actually trading. Depositing via FIAT currency is not yet allowed, but will be added in the foreseeable future.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
FAQ
The provider is a crypto exchange where cryptocurrencies can be bought and sold.
In our test, Stellarport was convincing. The diverse trading options and the excellent customer support attract many customers, most of whom are very satisfied with the provider.
The amount of one's own investment should depend on one's own liquidity, as well as on the chosen cryptocurrency and one's own risk appetite. In general, you should never invest money that you actually need elsewhere, as profits can never be guaranteed.
Here, too, the platform is convincing. Payouts are processed very quickly and, depending on the chosen payout method, are in your account within a few minutes to 2 working days.
You should always know what you are investing in. Cryptocurrencies are highly volatile, so you should first get to know the chosen coin in detail. If you have the necessary know-how, as well as the necessary bit of luck from time to time, then nothing will stand in the way of early profits.
