Please note that most of the CryptoGo ceased operations in June 2018 and their website functionality stopped. We still keep this page and review online as it may be useful to some visitors, or people who like to know how the platform used to work.
CryptoGo is an online cryptocurrency exchange where users can purchase many different types of crypto coin with Fiat money.
A relative newcomer to crypto exchanges, the most distinguishing benefits of CryptoGo are its simplicity and choice. This is ideal if you are looking for a straight forward way to purchase from a vast selection of crypto currencies.
Like any major purchase or commitment, it’s helpful to know the good, the bad and the ugly about a service before you go through with it. This can take time though, especially if you are new to crypto currency exchanges. So, we have done the hard work for you. Have a look at our review of CryptoGo to help you get a clear idea of what is on offer and how well it performs.
What are the benefits of CryptoGo?
The main advantage that CryptoGo offers is an all-round solution to the foibles associated with investing in crypto. This honest acknowledgement feeds into all the solutions it offers. Below we have detailed the main benefits you will get from signing up to CryptoGo. Have a look:
First up, the most significant benefit: there’s no limit on deposits and fees are low. These two features combined attract a sigh of relief from those who have been caught out with exchanges that require minimum or maximum deposit to be placed before trading.
Most brokerage accounts require an initial minimum deposit to allow trading to begin. Minimum amount deposits put up a barrier for beginners with many starting from $500, a substantial amount if you are trying out something new.
Similarly, maximum deposits are also restrictive, if you want to put in a large amount of capital, it is not always possible on some exchanges. If you buy from CryptoGo there is no such limitation, opening-up the doors to new investors and those with a larger investment pot.
Additionally, there are no hidden commission fees. The fees are included in the price of the coins you purchase, so no nasty surprises. The fee structure on the platform is similar to the ‘economy of scale’ principle – the more you buy, the lower the fees. The activity within the market also influences fee amounts: if there has been movement during the transaction period, this can alter the fees.
The other big standout feature of CryptoGo is its simplicity. A feature which allows users to skip over the often arduous process of buying new crypto coins.
In most other exchanges we see this typical path to buying crypto currencies:
Convert Fiat money (legal currency like Pounds and Dollars) into a base currency like Bitcoin, Ethereum or Litecoin (the main currencies you can buy altcoins with).
- Fund a chosen broker exchange with Fiat currency
- Buy your base currency
- Send your Bitcoin, Ethereum or Litecoin to a crypto exchange
- Buy crypto currency of your choice on the crypto exchange
- Store on crypto wallet
This process can take two weeks or longer. Some broker exchanges, due to high volume, are now choosing not to register new users and are instead putting them on a waiting list. Delays are not what you are looking for in an investor.
With CryptoGo you simply have to acquire a wallet for the coin of your choice and make a payment via wire transfer or credit/debit card for it, much the same way you do for other online transactions.
As the saying goes, you can never have too much information. Trading in crypto requires a level of knowledge in different areas. This can sometimes mean flipping from site to site, all in the name of gaining better understanding to help you make a good decision about your investment. CryptoGo removes this flipping by putting all market information, including reviews and coin analysis, on its platform.
On the coins page you will see a tab for each cryptocurrency. You will need to scroll down to see the full list (keep scrolling, it’s a big list). The tab provides a brief overview of the coin, including an outline about what each coin is, the cost per coin, recent performance of the coin and the option to ‘invest’. When you press the invest button you will be guided through the process of purchasing the coin.
Ratings of ICOs are also available on CryptoGo, a feature many other exchanges do not offer. Next to each crypto asset you will see a rating, giving you an insight about a coin you may be interested in. This may also bring to your attention other coins you haven’t thought about investing in. As with most sites, there is a comprehensive list of FAQs for those starting out on the platform.
Access to ICOs
Initial coin offerings (ICOs) are a means of raising funds for startups and are centered around cryptocurrency. They are becoming more and more popular and there are now thousands, gaining greater media exposure by the day, both positive and negative in some cases. This has resulted in both an uplift in interest as well as caution when it comes to ICOs.
With this in mind, CryptoGo provides users with information about the best ICOs available and how to purchase. The list of current ICOs will show you a brief synopsis on each, how long each ICO has got left to run and percentage funded. If you want a one-to-one chat about ICOs then your account manager is available to talk you through this.
Easy to use interface
CryptoGo doesn’t overwhelm you with graphs, pie charts and other statistical tables on its platform which makes a refreshing change from other exchanges. The user friendly and familiar design helps you trust the prompts and calls to action and navigation is smooth as a result. This goes some way in preventing the usual frustrations and errors that can occur with ‘information overloaded’ platforms and complex functionality.
It is easy to sign up and verification is fast (often within the space of an hour) so you can get started. You will have to send KYC documents (proof of address and identity documents) beforehand.
From the payment page you are taken to the page where you put in the amount you wish to spend and from there you will be either put in your card details or your bank transfer page.
From there, the coins you have chosen will be sent to the wallet of your choice, each payment method will take you to a different page and you will be taken through the process quickly and simply.
For bank transfers your account manager will send you an email with an invoice and payment instructions – you will also need to go through the verification process which simply means sending your ID and address documents.
What ID can I send?
You can send any of the following:
- Photographic ID, e.g. a passport or driving licence – the document must be within date
- Proof of address, e.g. utility bill or bank statement – again this must be within date
- You can even send a selfie clearly picturing a head and shoulders shot of you with your ID document – this must be readable from the photo
The real beauty of CryptoGo is the ability to purchase coins from a choice of literally thousands. A lot of exchanges do not allow you to do this but the team behind CryptoGo have purchased lots of different currencies on the user’s behalf so there is plenty of choice available.
You can buy any cryptocurrency you wish, from Ethereum and Litecoin to Telegram TONS and hundreds more less well-known currencies. There is lots of information on new and upcoming currencies available on the platform, helpful if you are in the initial stages or if you want to compare different prices and see what other coins are available.
If you are used to buying online, then buying crypto through CryptoGo won’t feel any different as you can buy using any Fiat currency, for example, USD or UK pounds.
You can also sell back to the exchange if you wish. This offers great flexibility and a ‘buy back’ option is great reassurance for beginners. If you are ready to sell your cryptos once you have made some profit, then the CryptoGo can buy them back off you.
You can pay for your currencies via debit or credit card or through a bank transfer. Paypal is also accepted. All currencies are accepted, including Fiat, meaning wherever you are in the world, you can use the platform. Like most other exchanges, the US is the exception to this rule.
When you sign up/register on CryptoGo, a personal account manager will be assigned to you to offer their expertise and guidance. CryptoGo provides all users with a personal account manager to help with all different types of questions. Although the FAQs section is helpful, there are inevitably other questions out there. An account manager can answer those questions and he/she also provides other advice, for example, where and how to set up a wallet.
How to buy on the platform
So, let’s get down to perhaps the most important part of the review. How do you buy on the CryptoGo?
The registration process literally takes a few minutes. Once you have entered your email address and phone number, you will be presented with the screen above. Once complete, you will be prompted to provide your ID documents.
You will then receive a verification email advising you of two next steps which need to be completed within the next 24 hours. You will then receive an email from a crypto broker who has been assigned to you. A few more snippets of information on wallets and next steps will be given to help you along your way.
Are there any drawbacks on CryptoGo?
Honestly, not many, but of course, there are some aspects of the platform it’s best to know about before you start investing with CryptoGo.
- If you are looking for a particular currency on the site, there is no search option, so it may take you a while scrolling down. But on the FAQs there is the option to speak directly to a broker to ask them about a particular currency you may be looking for.
- There is no wallet from CryptoGo – you will need to set up your own external wallet. However, that is an area that your personal account manager can advise you on directly and it does also mean that you are not restricted if you already have one set up.
- As yet, there is no mobile app for CryptoGo
- The main aim of the platform is for new comers to use currency they are familiar with, as such, there is no facility to trade from crypto to crypto on the site.
- There is no demo account available to try out like other exchanges. However, this is likely to be because the site is focused on getting traders up and running straight away rather than slowing the process with a demonstration.
Is there a CryptoGo wallet?
The CryptoGo site is very secure, this is facilitated by not storing assets on the site, instead transferring coins straight to you. This means that it is impossible for any of your assets to get hacked through the platform.
However, if you are a seasoned crypto investor you will know that you need to have a wallet to store your currencies, without it your crypto has no home. (For those who are not in the know, a wallet is a piece of software that serves as a place of safe storage for your crypto coins.)
If you aren’t sure which wallet is right for you then you can speak to your account manager or have a look here. Once you have your wallet you will need to take the address (a series of digits) and put it into the order form on CryptoGo, this will prompt an email to be sent to you providing a link to finish your order. It’s that simple. After that the transfer will be finalized and the coins deposited in your account.
Top ‘takeaways’ from CryptoGo
To summarize, if you are new to crypto or simply eager to get started investing in crypto but need a gentle introduction, this platform is for you. It’s always advisable to do your own research but the smart, intuitive functionality of the site, the security measures in place and the sheer volume of choice provides confidence and appeal to this potential ‘crypto game-changer’.