If you are considering getting into investing in and trading in cryptocurrencies then you are going to need to find a good cryptocurrency exchange. There are lots and lots of different options on the market, so if you are a newcomer, it can be a little tough to decide which is the best.
In this Rock Trading Exchange review, we will give you the lowdown on this platform including all of its features, functions, pros, and cons so you can decide if it is the one for you.
Let us read on to find out more.
- Cryptocurrency Offered
- Depositing Cryptocurrency
- Withdrawing Cryptocurrency
- Mobile Application
- Privacy and Security
- Customer Service
- Who’s The Platform For?
- How to Buy Your Currency
- Overall Rating
- Name: Rock Trading
- Website: www.therocktrading.com
- Type: Cryptocurrency Exchange
- Cryptocurrency: Bitcoin, Litecoin, Ether, Peercoin, Zcash, XRP
- Fiat Currency: EUR, USD
- Rating: 6.0/10
The Rock Trading platform is a digital currency exchange that has been around for a few years now. Popular with enthusiasts, it has developed and grown to offer a vast range of functions and features to help you trade quickly, efficiently and with ease.
You can use the platform to buy, sell, and exchange some of the world’s most famous digital currencies and you can also dabble in the world of margin trading while availing yourself of its low transaction fees and high level of stability.
Rock Trading began in 2007, and it started out as a Virtual Insurance Company before evolving into the platform it is today, while still on the same platform. In June 2011, the first stock was traded on its online platform, and as it grew and grew, they added more cryptocurrencies to their portfolio. Then, in 2013 they became a Ripple gateway and an official reseller of XRP.
|They have partnered with one of the safest Bitcoin wallets on the market – GreenAddress and they have developed practices such as using an only multisig address and zero-confirmation Bitcoin deposits. This means that its transaction times between wallet and platform are super fast which is excellent news for the user.
Another great feature of this platform is the prepaid card that can be ordered once you have verified your account. You can load this card with funds directly from the exchange itself.
Signing up is pretty straightforward, and you can get trading as soon as you join the platform.
The team behind The Rock Trading have over ten years of experience in providing cryptocurrency enthusiasts with an efficient, easy to use, and stable trading platform. In the last decade, they have grown to become one of the leading names in the exchange world, and this reputation is based on the quality and trust they have demonstrated to their clients over the years.
They currently have around 40,000 users with more and more joining each day. The platform combines innovative features, stability, a high level of performance and an interface that is easy to get to grips with, yet isn’t so simple that it will infuriate more seasoned users.
It offers a great range of coins, high levels of security for customers and a variable fee structure that gives clients flexibility and control over how much they pay for trades depending on when they trade. Add in the easy deposit feature, a trading API, and the ability to margin trade, and you have pretty much everything you could want from an online trading platform.
There are plans in the works, however, for more to be added in the future which is great news for those that wish to hold a diverse and varied portfolio. If the platform wants to stay in the game along exchanges like Binance, it will have to expand its portfolio very soon.
Signing up is pretty simple. All you need to do is fill in a few details, and you can make your first trade immediately. If you want to add support for fiat currencies or withdraw, all you need to do is undergo a verification procedure and provide some documents for Know Your Customer purposes.
Making your first deposit is not that hard either, and you can deposit in EUR, USD, BTC, BCH, ETH, NOKU, EURN, ZEC, LTC, PPC, XRP and FDZ. You can make a SEPA transfer or pay with OKPAY, Ripple or Cryptocapital.
All you need to do is sign up, navigate to deposit, select your method of deposit and the currency that you will be depositing in and click deposit. It really is that simple!
You can withdraw in the same currencies as you deposit, or you can ask for a SEPA transfer, OKPAY, Ripple, or withdraw directly to your Rock Card.
If you are withdrawing to a bank during working days, it takes 24 hours, and if you are withdrawing on a weekend or a bank holiday, it will be the next business day. With OKPAY withdraw requests, it takes 24 hours during business days and up to 36 hours during weekends and public holidays.
At present, there is no mobile application for The Rock Trading. You can, however, access the website from your mobile phone browser. There was an application once but it was discontinued, and it is no longer available. A post on their site states that they hope to work on a new app in the future, but that API options are technically available.
Privacy and Security
The team at Rock Trading take security and safety very seriously, and they have taken some steps to ensure optimum safety at all times. They recently added EV SSL to the website that means you can easily tell you are on the right site and haven’t been redirected to a malicious site instead.
They also offer multi-factor protection on ATM withdrawals using The Rock Card, which means you can add a pin which is required every time you execute a withdrawal via the web ATM. This can be set, and you can request that it is never modified or seen so you can be sure that even if a hacker steals your details, they can never withdraw from your account.
Google Authenticator is also available on the platform as well as having Google TFA protection.
When it comes to AML and KYC requirements, it depends on what you will be using the platform for. Some transactions and trading features don’t require any documents at all but then depending on how much you want to deposit or withdraw, and in which currency, you will need documents such as ID, utility bill, and various signed forms. These documents must be in high resolution, to date, and in the case of ID, a government issued. You can submit them securely via email or via the platform itself. Note, all documents must be either in English or translated into English and stamped by a notary.
All data is kept secure on a separate server so you can be sure that your privacy is guaranteed.
One way that Rock Trading stands out from the crowd is with its fluid fee structure. This rewards user for using the platform and the level of loyalty they display. The fees are pretty good too, being with at around 0.20% for the first transaction, but then as the trading volume increases over the next 30 days, the fees decrease.
If you are a regular trader, you could even see yourself paying as little as 0.02% which is a discount of 85%. Fees also vary depending on the time of day that you trade so be sure to check out when is the best time for you.
Should you run into problems or have a question that you need answering, then don’t worry there is help at hand. Your first port of call is the extensive FAQ section or the online forum that you can access through the website. Alternatively, you can open a support ticket and check its status through the portal.
As a last resort, The Rock Trading is active on social media so you could always try to get in touch with them through there.
When it comes to response times, they seem to be pretty quick, especially when you compare them to some of the larger exchanges out there.
When it comes to their interface, the design team did a super job at designing a nice, clean, simple layout with efficient navigation. The home page contains all of the information and links that you need to set up your account quickly, and if you get stuck, you can easily contact the support team if you need to.
Once you have signed up, you can easily navigate to the exchange, the online wallet, and the support section without too much fuss. While the platform is pretty simplistic in appearance, do not be fooled as it is a powerful tool with plenty of advanced features.
Users well regard the platform, and you can tell that it has been tailored to the feedback of clients and customer’s feedback. This is refreshing in an online exchange, and there are some other platforms out there that could learn a lot from The Rock Trading.
Who’s The Platform For?
This platform has everything that most of the leading exchanges have, but it is smaller and feels more personal. It is perfect for beginner traders and more advanced users and has a wide range of features that will keep everyone happy.
How to Buy Your Currency
Buying cryptocurrency is pretty straightforward. You can, of course, deposit coins straight into the platform as long as the coin you have is supported. If you are depositing with fiat currencies, all you need to do is specify how much fiat currency you want to exchange for which cryptocurrency.
Be aware that cryptocurrencies are very volatile and prices can fluctuate in a split second. The platform will do the best to estimate the exchange value that you will receive but bear in mind that this can change from time to time.
We gave The Rock Trading a score of 6.0 out of 10 – we like to use smaller exchanges that are more interpersonal, but the relatively small choice of coins and the lack of mobile brought the final result down.
The customer service is top notch, and for beginners, the platform is simple and easy to get to grips with. Even more complicated trading methods such as margin trading are easy to do and can be executed without much fuss.
The only drawback for me is the fact that it does not have a mobile app. Yes, you can log in from your mobile browser, but it’s not as convenient.
We cannot understand why they do not have an application and to be honest, it is a shame. This platform has so much going for it, but to not have an official mobile application is a big shame and a huge drawback in the market.
That said, the low fees and various other features that we have covered in this article mean that we wouldn’t hesitate to recommend it to a friend or follow cryptocurrency enthusiast.
What do you think of out The Rock Exchange review? Would you try it yourself?