The popularity of cryptocurrencies continues to grow. Not for the first year, the financial instrument is climbing up the financial market. Unfortunately, most of the trading platforms offer their users not the most favourable terms for transacting with the coins.
One of the main issues the investors face is the high cost of transacting in the crypto exchanges. Centralized trading platforms charge approximately 0.1-0.2% of the value of the deal. Decentralized exchanges on average charge about 0.3%. And exchangers are the most expensive. Their commission can climb as high as 1-3% of the deal.
Apart from that, the majority of current trading platforms require users to follow through with the mandatory verification procedures that assume full deanonymization.
The cryptocurrency exchange SIGEN.pro is an exception to the rule. The project team succeeded in finding a way to eliminate internal fees and it allows users to transact in anonymity.
At the SIGEN.pro platform, it is possible to conduct various transactions for free. Among other things, users are freed from fees for:
- trading operations;
- assets exchange of the P2P platform;
- deposit and withdrawal of cryptocurrencies.
In its turn, waiver of verification KYC (know your customer) procedures allow users to remain anonymous. Given the regulators’ attempt to assume total control over crypto operations, the option for confidentiality might be seen as an integral part of the security of transactions with digital assets.
Let’s see how SIGEN.pro has succeeded in wavering both fees and allowing users to remain anonymous.
SIGEN.pro in details
The project SIGEN.pro that developers have registered in Belize (SIGEN IT DEVELOPMENT LLC.) consists of several main products:
- Multicurrency wallet for cryptocurrencies;
- Crypto exchange;
- Automated exchanger.
The name of the project consists of two constituents. The first is SIGma (Σ). It is a Greek symbol that means “knowledge”. The second part of the name comes from the English word ENergy. It reflects the developers’ aspirations to enhance the platform.
SIGEN.pro was launched in 2015. Initially, the project consisted only of the P2P platform like LocalBitcoins. It differentiated in the market with low commissions. Before long, developers delivered the second product – a cryptocurrency exchange. The exchanger was the next product to join the SIGEN.pro ecosystem.
The developers aim to make the platform a peoples’ project. In many ways, the SIGEN.pro representatives have already implemented their plans. The platform’s team has found a way to waive verification procedures and fees that is exactly what the crypto community was asking for. But the developers shared that in future the operations with stablecoins will require following the KYC procedures.
SIGEN.pro bets on cryptocurrencies that support staking – a way to organize the passive income by holding the coins on the account. The widening of the coins goes aligned with developers’ plan of creating a platform where users can easily and safely multiply assets.
How the SIGEN.pro team waived commissions and KYC
Many cryptocurrency exchanges see fees as a source of income. SIGEN.pro is the exception to the rule. The developers found an alternative source of income that allowed them to exempt the users from fees and commissions. The project makes money on mining cryptocurrencies.
The waiver on KYC could be explained by the fact that SIGEN.pro does not support traditional money. Herewith, it is possible to transact with fiat on the P2P platform. The availability of this functionality does not contradict the fact that the SIGEN.pro team has no access to the users’ accounts with classic money.
What SIGEN.pro consists of
Every product of the platform accommodates a certain number of users’ needs. Let’s discuss them in detail.
The SIGEN.pro developers rolled out a multicurrency custodial cryptocurrency wallet. The model centers around transferring to the trading platform private keys and cryptocurrencies for storage. This approach is used by many popular crypto exchanges including Binance and Coinbase.
The majority of assets are in cold storage at SIGEN.pro. It means that fraudsters will not be able to have access to them via the network.
The project supports several cryptocurrencies. At the moment of writing of this review, the full list of coins listed on the SIGEN.pro platform looks in the following way:
- Bitcoin (BTC).
- Ethereum (ETH).
- Litecoin (LTC).
- Binance Coin (BNB).
- Umi (UMI).
- Ton Crystal (TON).
- Minter Network (BIP).
- Wrapped Bitcoin (WBTC).
The basis is the coins that support staking and coins with high potential.
Multicurrency wallet SIGEN.pro allows users to get and send cryptocurrencies without commissions. The only thing that requires payment is the fee of the network of the assets (these are the funds that are distributed among miners for validating the transactions)
The developers note that the lack of fees and commissions for getting and receiving cryptocurrencies is one of the crucial benefits of the project. In contrast, withdrawing bitcoins from a popular cryptocurrency exchange Binance might take several tens of dollars.
The SIGEN.pro developers integrated into the platform a unique system for commission costs. The platform freezes a portion of assets for paying network fees. Later on, the system transfers back “the change”. For now, this works only with transactions with bitcoins. In future, the same system will be integrated into operations with other cryptocurrencies.
Cryptocurrency exchange SIGEN.pro.
An intuitively comprehensive interface is one of the crucial benefits of the cryptocurrency exchange SIGEN.pro.
The cryptocurrency SIGEN.pro interface
The platform has everything that a user needs for efficient trading including the graph with technical analysis instruments. Also, the list of trading pairs and the order book are there for cryptocurrency users.
The developers emphasized that the platform supports two types of orders:
- Market orders. It assumes buying the assets for current market prices.
- Limit orders. A user sets the desired price for the assets and other parameters of the deal.
By using P2P-platform SIGEN.pro, users can buy and sell cryptocurrencies for fiat. This being said, the platform assumes direct transactions among users without a middleman. If needed, users can publish new orders to buy and sell cryptocurrencies. Also, users of the platform can transact with the existing orders placed by other users.
Important! P2P-platform SIGEN.pro supports operations with all currencies of the world!
The users of the P2P-platform SIGEN.pro are secured with two instruments:
1.The ESCROW system
After the parties have agreed on the deal, the system freezes the assets of the seller that are needed for the transaction. The ESCROW system awaits confirmation of the funds to have been transferred to the seller. Only after that, the system unfreezes the assets and sends them. In this way, with the ESCROW system, a buyer gets a guarantee that the funds will be sent, and a seller that the transaction will be covered.
2. The rating system
The platform users can see the rating of both buyers and sellers. The transparency of data allows users to find optimum ways to conduct a deal.
Important! In case any problem arises, users can take advantage of the SIGEN.pro system. In this case, the team will analyze the situation, evidence and make a fair ruling.
The SIGEN.pro exchanger
The operations with the exchanger do not require registration. With the exchanger, the users of the platform can quickly exchange assets at the current market rates.
The SIGEN.pro exchanger
To execute the transaction, it is necessary to fill in the form. After the data entrance, a user has to click on the “Exchange” button. The system will conduct a deal in accordance with the defined parameters.
About additional income on SIGEN.pro and platform security
SIGEN.pro is one of few cryptocurrency exchanges where users can also find instruments for earning additional income. The platform cooperates with cryptocurrency pools – Roy Club and ISP Club – where users can stake the cryptocurrency UMI. To start earning, it is enough to open the cryptocurrency wallet for the coins and register at one of the pools.
The SIGEN.pro developers integrated into the platform several highly effective instruments that guarantee the highest level of safety for the users’ funds and data. Among other things, the platform allows SIGEN.pro users to activate the two-factor authentication. Also, users can define special parameters for entering into the account. To do that, a user can verify the devices and define a list of IP addresses that are permitted to enter. Additionally, the system backs up the users by requesting confirmation via email for each transaction.
Reviews on SIGEN.pro
The platform users appreciate the opportunity to conduct transactions anonymously. Also, users take notice of the convenience of the interface. The opportunity to transact without commission is also a reason that users choose the developers to praise for.
The SIGEN.pro review statistics on Google Play
Most often, SIGEN.pro users complain about the scarcity of the available cryptocurrencies. It is important to note that the rather limited list of supported coins is the conscious choice of developers. The project representatives bet only on the most effective cryptocurrencies for staking and for assets with a bright future. In the future, the list of coins will continue to grow.
The developers will continue to improve the SIGEN.pro functionality as the platform for earning on cryptocurrencies. Also, the team plans to continue working on widening the list of coins that will be available for users to transact with.
SIGEN.pro plans The developers will continue to improve the SIGEN.pro functionality as the platform for earning on cryptocurrencies. Also, the team plans to continue working on widening the list of coins that will be available for users to transact with. Despite the fact that SIGEN.pro awaits many changes in the future, the project can be already appropriately seen as indeed a project of the people. The developers succeeded in attracting market participants with favourable terms and wide functionality. The absence of KYC and fees only confirms the title peoples’ platform.