Redot Crypto Exchange Review

Exchanges are to cryptocurrencies what brokers are to stocks. They offer a means to buy and sell digital assets using technical and fundamental tools, with the hopes of making a profit. In this post, we will look into one of the best crypto exchanges in the world; Redot exchange. What is it? What features can you enjoy using on it – and what makes it different from other crypto exchanges? Let’s take a look at a Redot review.

What Is Redot Exchange?

Redot.com is an EU-licensed cryptocurrency exchange launched in May 2019 by a team of industry professionals. Redot sets the benchmark for the industry by offering institutional, professional, and retail investors a robust exchange to trade digital assets rapidly, securely, and with the lowest commissions (it’s not possible to trade on Redot from the US as it is an EU-licensed company).

Security & Regulations

Redot is renowned for its emphasis on security. While it encourages safe trading practices, it also takes responsibility on its part by routine maintenance checks, security audits, and improving its security features. Apart from these, there are activity logging capabilities, bug bounties, and different wallet solutions to avoid total loss if there is a compromise. On its security offerings to users, there are identity and data authentication, KYC, and 2-factor-authentications (instead of using one-time code login standard security, Redot uses a U2F).

How Does Redot Work?

Trading

Users can buy or sell cryptocurrencies on the Redot crypto exchange in real-time. The exchange is designed to have a simple yet enthralling feel, and there are audits done on cryptocurrencies before they are added to the list of tradable cryptocurrencies. The Redot derivatives exchange is expected to launch before the end of 2022, and this will further bring volume to the exchange. The user interface s designed to be easy to use, yet technical enough for adept users.

Staking

As the Ethereum community gradually gets ready for the network transition from Proof-of-Work in the original Ethereum to Proof-of-Stake in Ethereum 2.0, more and more customers are asking Redot support how to stake their ETH quickly without the risk of being penalized for improperly configured validator nodes.

Redot has created a comprehensive set of features for this cutting-edge ecosystem because Ethereum 2.0 does not yet support trading tokens between chains. This allows customers to trade whenever they want while having their concerns taken care of by the exchange.

In addition, the Redot platform provides a fully automated mechanism to produce a staking return based on network incentives without requiring users to host infrastructure themselves or hold more than the protocol’s minimum of 32 ETH.

"We expect that simplicity, ease of use, and a smooth user-friendly interface, where all of the hard work is done under the hood, will attract much more adoption and eventually shift the majority of ETH from PoW to PoS," Drobny said in anticipation of this release. Furthermore, Redot self-hosts a blockchain explorer for Ethereum 2.0’s main network so users may monitor the network’s status and Redot validators to assist the community and knowledgeable users.

Redot`s Features

Industry-standard exchange

To accommodate the demands of fund managers, the Redot cryptocurrency exchange offers institutional-grade FIX, Customizable UI Widget, and industry-standard 300k TPS, all on an exchange that is reliable, scalable, and performant.

Multi-Currency

Redot provides a significant selection of trustworthy cryptocurrencies for trading and safekeeping. Among the cryptocurrencies that are available are Bitcoin, Ethereum, and US dollar coins. This offers traders a wide variety of trading choices.

Commission Rebates

For market makers, Redot promises big profits. By receiving additional commissions paid for by other traders, they are able to engage in more successful trading.

Full compliance

Redot is fully regulated and has a permit to hold digital assets from numerous EU nations.

Highest Security

To guarantee that assets remain secure, Redot follows a tight security protocol. To ensure wallets are maintained secure, it also provides 2FA and U2F, an enhanced improvement of the former, in addition to the typical combination of hot wallet and cold wallet custodial solutions. Additionally, the exchange is audited each month and withdrawal protection mechanisms are in place.

Constant uptime

Redot’s ability to endure high-pressure trading through failover protection is one of its main advantages. It also has a strong infrastructure and micro-services-based architecture.

Responsive support

The Redot team is always accessible at all times. All inquiries, requests, and other matters will receive rapid attention.

Trading Fees

One of the first things a trader wants to know about an exchange is the amount of trading fees they will incur per transaction. Redot offers successful buying and selling for several trading pairs, including BTC/USDT, ETH/USDT, ETH/BTC, ETH2/ETH, KARTA/USDT, UVAS/USDT, USDC/USDT, UNI/USDT, LINK/USDT, WBTC/BTC, and AAVE/USDT. The exchange offers one of the highest transaction throughputs in the crypto market with the lowest commissions. The average transaction fee can range between 0.05 to 0.15% and this can change depending on network conditions or volume per time.

There is also a one-time whitelisting fee of 0.01 for a KARTA/UVAS swap. Deposits on Redot come with zero fees and you can visit the Redot official website for more information on Redot fees.

Redot Exchange: Pros and Cons

1. Professionals are in charge

There is a lot of experience in the Redot team. From the dev team to the client support team, Redot is graced with people who cherish excellence and attention to detail. Another advantage they bring to the exchange is their wealth of experience within digital finance or traditional finance.

2. Multiple trading features

What do you want to trade? Spot? Derivatives? Or even ETH2? Redot offers these features in an excellent way. You can buy cryptocurrencies with zero lag time, leverage on crypto future prices, or even stake ETH2 tokens until when the proof-of-stake consensus mechanism goes fully active.

3. Extra earnings:

Apart from earning from trading, users can earn on referrals and bounty rewards. For every user that signs using your referral code, you can earn up to a 70% discount on your trading fees. Amazing, isn’t it? There is also a bounty reward for every bug discovered on the exchange.

4. Safe and top-notch security

With the number of hacks and breaches going on in the cryptocurrency space, any exchange not upholding and strengthening users’ fund safety might just be kidding. Redot has a robust security system from the get-go. There are account limitations, AML, and KYC practices that have been put in place to ensure users’ funds are kept safe. The exchange also uses a blend of hot and cold wallet storage systems to mitigate hacks.

5. Very active social channel

Redot has a strong social media presence. The exchange is currently present on Medium, Discord, Facebook, Twitter, and Telegram. There are tens of thousands of followers across all its platforms and its social media review is noteworthy.

6. Vibrant customer support

Do you have any questions? Partnership or request? The Redot customer service group is always willing to help. You can reach out to them through any of the social media platforms or send them an email. Although there might be some delay with requests due to the sheer volume of requests, Redot’s help section is knowledgeable and able to handle all enquiries or requests.

How to open an account on Redot?

Go to redot.com on your web browser or mobile browser.

Click on “Sign in” on the top right corner of the website

Create an account by entering your email and password

Complete the puzzle

A message containing your account confirmation will be sent to your mail

Viola!! You can start trading.

Redot Deposit and Withdrawal

Cryptocurrency deposits in the form of AAVE, BTC, ETH, ETH2, KARTA, LINK, UNI, USDC, USDT, UVAS, and WBTC are accepted by Redot. Token staking and REPO interest provide clients with high-leverage income for profit-making. To profit, a client must request a withdrawal. In response to this request, the trading location verifies and generates an exchange.

The credits of the earnings are settled once the digital transactions corporation has approved the Service Level Agreement (SLA) conformities with M or N signatures. The final step involves verifying the client’s withdrawal credits and permits.

Conclusion

Customers can benefit from the exchange’s lucrative and attractive products, and earn from leveraged trades, according to analyses of the platform. There are benefits to being a fully regulated digital asset by the EU. In compliance with SLAs and commission rebates, it manages custody solutions requiring M or N signatures. It is one of the most popular platforms for cryptocurrency exchanges on the market thanks to its cutting-edge trading capabilities, such as the capability to stake Ethereum 2 and subsequently trade ETH2 against ETH.