MagratuS review & testimonials (updated 04.2020)
- Overview: is MagratuS safe?
- Pros & Cons of MagratuS
- Services, MagratuS Provides
- Currencies & Payment Systems
- MagratuS fees
- Buying and selling limits
- Supported countries
- Customer service
- Verification at MagratuS
- Deposit/withdrawal speed
- Customers' testimonials
- FAQ about MagratuS
- MagratuS vs other exchanges
- Conclusion: is MagratuS legit or scam?
What is MagratuS in a nutshell? It's maybe not the most popular, but well established, exchange service (broker) supporting 1 cryptocurrency: you can buy and sell coins using 3 fiat currencies (2 banks & payment systems are supported). Exchange service started the business May 2012, it serves the clients for a few years.
This service works with a number of currencies, banks, and payment systems.
Hence to estimate the fees level we calculated an average fee you'll spend for an exchange here.
Based on this number
(8.44%)
we may say that MagratuS
charges
high fees, but
offers bonuses
for some exchange directions
i.e. for certain exchanges, the rate if better than the market:
the bonus reaches 1%,
the maximum fee is 15%
(according to our statistics,
92%
exchanges offer lower average fee)
Based on all these facts, our verdict is the following: MagratuS is a promising, although not yet reviewed much by our visitors place to buy and sell Bitcoins, an interesting exchange that we believe will get some nice feedback soon!
Overview: is MagratuS safe?
Pros & Cons of MagratuS
Although MagratuS is not yet rated by our visitors, common sense tells us it should have both strong sides and some downsides. Let's check it out:
- High purchase and withdrawal limits, convenient min/max amounts.
- Almost all the countries in the world are welcomed here! Feel free to check if your country is allowed to register an account.
- Magratus doesn't hold the clients funds, delivering the funds directly to your wallet.
- Seems that the exchange operates without any business licenses, etc. Although since it's in the business for over 7 years, it definitely gained trust in the community.
- Only 1 digital currencies and 3 fiat ones are supported. Just a 2 payment systems and banks are supported. Another downside is that this exchange does't allow crypto-to-crypto swaps.
Seems that there are not so many cons, but a lot of pros. We hope you will enjoy your experience exchanging at MagratuS! Try MagratuS today and let us know how you like it!
Services, MagratuS Provides
The platform provides the following cryptocurrency exchange-related services:
- Allows the customers to buy cryptocurrencies with fiat currencies
- Provides the clients with ways to "cash out" the crypto to fiat currency
As we can see, MagratuS doesn't provide any services besides the cryptocurrency exchange, althought it's definitely not a bad thing; after all, we came here for the crypto exchange, right?
Currencies & Payment Systems
MagratuS provides the service of buying and selling 1 digital currencies using fiat currencies. The following cryptocurrencies are available to buy/sell: Bitcoin (BTC).
If you are not sure, which one of these electronic currencies you are most interested in, you are welcome to read our guides. For example, these: Most innovative cryptocurrencies to invest in 2020.
3 fiat currencies are supported to provide crypto purchase and selling: Euro (EUR), Russian Ruble (RUB), US Dollar (USD). The Broker will let you buy and sell Bitcoins using the following payment systems:
- Paypal. An international payment system (it's available in 232 countries) allowing e-wallet payments in various currencies. EUR, RUB and USD payments are available for both buying and selling cryptocurrencies at this exchange. Paypal is a popular way to buy BTC and other cryptocurrencies available at 145 exchanges of various types. You are welcome to find the best rate for buying bitcoin with paypal at our home page!
- Skrill. An international payment system (available worldwide) allowing e-wallet payments in various currencies. EUR and USD payments are available for both buying and selling cryptocurrencies at this exchange.
MagratuS fees
The fees you need to pay at this broker during the process of buying and selling cryptocurrencies are easier to understand if you break it down like that (note that you can skip the details, jumping to the conclusion):
-
Service/processing fee.
Depending on the fiat payment system and currency, it's as follows:
- Commission when you are receiving funds to Paypal in US Dollar: 1% bonus!
- Commission when you are receiving funds to Paypal in Euro: 2%
- Commission when you are receiving funds to Paypal in Russian Ruble: 3%
- 15% when you pay money using Paypal in US Dollar.
- 15% when you pay money using Paypal in Euro.
- 15% when you pay money using Paypal in Russian Ruble.
- Commission when you are receiving funds to Skrill in US Dollar: 4%
- Commission when you are receiving funds to Skrill in Euro: 4%
- 9% when you pay money using Skrill in US Dollar.
- 9% when you pay money using Skrill in Euro.
-
Miners fee.
Please note that this fee applies only when you
buy bitcoin or other cryptocurrency!
- 0 BTC: great news! at the moment there is no such a fee!
Are MagratuS fees high or low?
Now it's time to draw a conclusion: considering the average fee the exchange changes for an operation we can state that MagratuS charges a very reasonable fee for smaller amounts; although for a higher ones it takes high fees from the clients, but it also gives bonuses for some exchanges! According to our statistics, fairly big percent of the exchanges charge some less (although please be aware that it mostly depends on the exchange direction!) than MagratuS does. For example, an average fee you pay to buy Bitcoin with Paypal in USD across various exchange brokers, trading platforms, p2p marketplaces and e-wallets is 10%, MagratuS charges 15% for this. Seems fair!
Buying and selling limits
This Broker has the following limits, applicable when you buy or sell cryptocurrencies:
-
Purchase limits (when you buy crypto).
- $50 minimal buy and $15,000 max purchase when using Paypal in US Dollar.
- €38 minimal buy and €12,000 max purchase when using Paypal in Euro.
- ₽3,000 minimal buy and ₽1,272,527 max purchase when using Paypal in Russian Ruble.
- $32 minimal buy and $10,000 max purchase when using Skrill in US Dollar.
- €40 minimal buy and €10,000 max purchase when using Skrill in Euro.
-
Withdrawal limits (when you out-exchange crypto to the fiat money).
- $1 min and $33,081 maximal withdrawal when receiving money to Paypal in US Dollar.
- €65 min and €22,533 maximal withdrawal when receiving money to Paypal in Euro.
- ₽3,385 min and ₽577,998 maximal withdrawal when receiving money to Paypal in Russian Ruble.
- $40 min and $7,036 maximal withdrawal when receiving money to Skrill in US Dollar.
- €36 min and €3,701 maximal withdrawal when receiving money to Skrill in Euro.
And the good news: there are no limits on other payment systems (the limitations the payment system has aside) MagratuS supports! Comparing to other exchanges, MagratuS has a very convenient buying/selling limits setup; the minimal amount is tiny and the max is high. Whatever amount you have in mind, you can exchange it at this Broker!
Supported countries
Platform allows the users from 255 countries to use the exchange. The following countries are supported by the broker:
- Afghanistan (AF)
- Aland Islands (AX)
- Albania (AL)
- Algeria (DZ)
- American Samoa (AS)
- Andorra (AD)
- Angola (AO)
- Anguilla (AI)
- Antarctica (AQ)
- Antigua & Barbuda (AG)
- Argentina (AR)
- Armenia (AM)
- Aruba (AW)
- Ascension Island (AC)
- Australia (AU)
- Austria (AT)
- Azerbaijan (AZ)
- Bahamas (BS)
- Bahrain (BH)
- Bangladesh (BD)
- Barbados (BB)
- Belarus (BY)
- Belgium (BE)
- Belize (BZ)
- Benin (BJ)
- Bermuda (BM)
- Bhutan (BT)
- Bolivia (BO)
- Bosnia & Herzegovina (BA)
- Botswana (BW)
- Bouvet Island (BV)
- Brazil (BR)
- British Indian Ocean Territory (IO)
- British Virgin Islands (VG)
- Brunei (BN)
- Bulgaria (BG)
- Burkina Faso (BF)
- Burundi (BI)
- Cambodia (KH)
- Cameroon (CM)
- Canada (CA)
- Canary Islands (IC)
- Cape Verde (CV)
- Caribbean Netherlands (BQ)
- Cayman Islands (KY)
- Central African Republic (CF)
- Ceuta & Melilla (EA)
- Chad (TD)
- Chile (CL)
- China (CN)
- Christmas Island (CX)
- Cocos (Keeling) Islands (CC)
- Colombia (CO)
- Comoros (KM)
- Congo - Brazzaville (CG)
- Congo - Kinshasa (CD)
- Cook Islands (CK)
- Costa Rica (CR)
- Côte d’Ivoire (CI)
- Croatia (HR)
- Cuba (CU)
- Curaçao (CW)
- Cyprus (CY)
- Czech Republic (CZ)
- Denmark (DK)
- Diego Garcia (DG)
- Djibouti (DJ)
- Dominica (DM)
- Dominican Republic (DO)
- Ecuador (EC)
- Egypt (EG)
- El Salvador (SV)
- Equatorial Guinea (GQ)
- Eritrea (ER)
- Estonia (EE)
- Ethiopia (ET)
- Falkland Islands (FK)
- Faroe Islands (FO)
- Fiji (FJ)
- Finland (FI)
- France (FR)
- French Guiana (GF)
- French Polynesia (PF)
- French Southern Territories (TF)
- Gabon (GA)
- Gambia (GM)
- Georgia (GE)
- Germany (DE)
- Ghana (GH)
- Gibraltar (GI)
- Greece (GR)
- Greenland (GL)
- Grenada (GD)
- Guadeloupe (GP)
- Guam (GU)
- Guatemala (GT)
- Guernsey (GG)
- Guinea (GN)
- Guinea-Bissau (GW)
- Guyana (GY)
- Haiti (HT)
- Heard Island and McDonald Islands (HM)
- Honduras (HN)
- Hong Kong SAR China (HK)
- Hungary (HU)
- Iceland (IS)
- India (IN)
- Indonesia (ID)
- Iran (IR)
- Iraq (IQ)
- Ireland (IE)
- Isle of Man (IM)
- Israel (IL)
- Italy (IT)
- Jamaica (JM)
- Japan (JP)
- Jersey (JE)
- Jordan (JO)
- Kazakhstan (KZ)
- Kenya (KE)
- Kiribati (KI)
- Kosovo (XK)
- Kuwait (KW)
- Kyrgyzstan (KG)
- Laos (LA)
- Latvia (LV)
- Lebanon (LB)
- Lesotho (LS)
- Liberia (LR)
- Libya (LY)
- Liechtenstein (LI)
- Lithuania (LT)
- Luxembourg (LU)
- Macau SAR China (MO)
- Macedonia (MK)
- Madagascar (MG)
- Malawi (MW)
- Malaysia (MY)
- Maldives (MV)
- Mali (ML)
- Malta (MT)
- Marshall Islands (MH)
- Martinique (MQ)
- Mauritania (MR)
- Mauritius (MU)
- Mayotte (YT)
- Mexico (MX)
- Micronesia (FM)
- Moldova (MD)
- Monaco (MC)
- Mongolia (MN)
- Montenegro (ME)
- Montserrat (MS)
- Morocco (MA)
- Mozambique (MZ)
- Myanmar (Burma) (MM)
- Namibia (NA)
- Nauru (NR)
- Nepal (NP)
- Netherlands (NL)
- New Caledonia (NC)
- New Zealand (NZ)
- Nicaragua (NI)
- Niger (NE)
- Nigeria (NG)
- Niue (NU)
- Norfolk Island (NF)
- Northern Mariana Islands (MP)
- North Korea (KP)
- Norway (NO)
- Oman (OM)
- Pakistan (PK)
- Palau (PW)
- Palestinian Territories (PS)
- Panama (PA)
- Papua New Guinea (PG)
- Paraguay (PY)
- Peru (PE)
- Philippines (PH)
- Pitcairn Islands (PN)
- Poland (PL)
- Portugal (PT)
- Puerto Rico (PR)
- Qatar (QA)
- Réunion (RE)
- Romania (RO)
- Russia (RU)
- Rwanda (RW)
- Samoa (WS)
- San Marino (SM)
- São Tomé & Príncipe (ST)
- Saudi Arabia (SA)
- Senegal (SN)
- Serbia (RS)
- Seychelles (SC)
- Sierra Leone (SL)
- Singapore (SG)
- Sint Maarten (SX)
- Slovakia (SK)
- Slovenia (SI)
- Solomon Islands (SB)
- Somalia (SO)
- South Africa (ZA)
- South Georgia & South Sandwich Islands (GS)
- South Korea (KR)
- South Sudan (SS)
- Spain (ES)
- Sri Lanka (LK)
- St. Barthélemy (BL)
- St. Helena (SH)
- St. Kitts & Nevis (KN)
- St. Lucia (LC)
- St. Martin (MF)
- St. Pierre & Miquelon (PM)
- St. Vincent & Grenadines (VC)
- Sudan (SD)
- Suriname (SR)
- Svalbard & Jan Mayen (SJ)
- Swaziland (SZ)
- Sweden (SE)
- Switzerland (CH)
- Syria (SY)
- Taiwan (TW)
- Tajikistan (TJ)
- Tanzania (TZ)
- Thailand (TH)
- Timor-Leste (TL)
- Togo (TG)
- Tokelau (TK)
- Tonga (TO)
- Trinidad & Tobago (TT)
- Tristan da Cunha (TA)
- Tunisia (TN)
- Turkey (TR)
- Turkmenistan (TM)
- Turks & Caicos Islands (TC)
- Tuvalu (TV)
- Uganda (UG)
- Ukraine (UA)
- United Arab Emirates (AE)
- United Kingdom (GB)
- United States (US)
- Uruguay (UY)
- U.S. Outlying Islands (UM)
- U.S. Virgin Islands (VI)
- Uzbekistan (UZ)
- Vanuatu (VU)
- Vatican City (VA)
- Venezuela (VE)
- Vietnam (VN)
- Wallis & Futuna (WF)
- Western Sahara (EH)
- Yemen (YE)
- Zambia (ZM)
- Zimbabwe (ZW)
Does MagratuS allow the users from United States (US)?
Yes, MagratuS allows the registrations from the United States! Broker permits the users from 56 states and territories to register at and use the services exchange provides:
- Alabama (AL)
- Alaska (AK)
- American Samoa (AS)
- Arizona (AZ)
- Arkansas (AR)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- District of Columbia (DC)
- Florida (FL)
- Georgia (GA)
- Guam (GU)
- Hawaii (HI)
- Idaho (ID)
- Illinois (IL)
- Indiana (IN)
- Iowa (IA)
- Kansas (KS)
- Kentucky (KY)
- Louisiana (LA)
- Maine (ME)
- Maryland (MD)
- Massachusetts (MA)
- Michigan (MI)
- Minnesota (MN)
- Mississippi (MS)
- Missouri (MO)
- Montana (MT)
- Nebraska (NE)
- Nevada (NV)
- New Hampshire (NH)
- New Jersey (NJ)
- New Mexico (NM)
- New York (NY)
- North Carolina (NC)
- North Dakota (ND)
- Northern Mariana Islands (MP)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Puerto Rico (PR)
- Rhode Island (RI)
- South Carolina (SC)
- South Dakota (SD)
- Tennessee (TN)
- Texas (TX)
- U.S. Virgin Islands (VI)
- Utah (UT)
- Vermont (VT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wisconsin (WI)
- Wyoming (WY)
It's possible to use the USD currency to buy/sell 1 cryptocurrencies at the MagratuS: 2 banks and payment systems totally (out of the 2 the broker supports, that's 100% of all the available ones) can be used by people from the U.S.A.:
- Paypal
- Skrill
Customer service
Verification at MagratuS
The broker may require the customers to pass through the user identification (account verification) process. The following procedures are normally required to verify your acc:
- ID verification
According to the customers surveys results, the average time to verify an account at MagratuS is the following:
Sorry, we haven't yet collected enough data. Do you know, how fast MagratuS does account verification? Kindly let us know, too. Thank you very much!
Deposit/withdrawal speed
According to the data we have, MagratuS processes all or most of the orders without an automation; orders require staff attention to be completed. The speed of money transfer varies a lot on such services, so it's good to know the situation here at this exchange.
Is MagratuS instant?
So, what can we see? In accordance with the data we know about the broker, orders at MagratuS are not instant. Although we don't have enough information about the order delivery speed from actual customers yet, sorry.
Customers' testimonials
There are currently no users testimonials about the MagratuS. Do you have any experience using this broker? If you do, please say a couple of words about it!
FAQ about MagratuS
Does MagratuS holds my funds?
It does not! One of the best things dealing with the brokers is that unlike most of other exchanges, such businesses instantly deliver your funds to your own wallet after the payment clearance.
Is MagratuS a good broker?
Although we have not enough users' reviews yet, we analyzed the information we have. Feel free to get acquainted with the details reading this review or just jump to the conclusion!
Is MagratuS licensed? Does it hold e-money license?
It is not, and it's hard to even find information about any business registration, etc. Although the cryptocurrency regulation in Russia, CIS and most of the ex-USSR countries has not yet being set, so so almost all such exchanges there are operating like this.
Is MagratuS a ripoff?
It is not a ripoff, although we have not rated MagratuS yet due to lack of user testimonials, it complies with our standards. Feel free to read the whole this review to understand why or check our conclusion: is MagratuS legit or scam.
MagratuS vs other exchanges
Let's compare MagratuS to other similar exchange services with similar features: others of broker type mostly. Besides, seems reasonable to compare the platform with the exchanges having similar rating and serving (mostly) the same geographic, etc. Remember that if you wish to find the exchange offering the best price to buy/sell Bitcoin and 33 other cryptos, check the best rates to buy bitcoin and crypto in United States!
MagratuS vs Bitonic
Let's compare the key features of these two platforms to see which one suits you best:
- Bitonic is a broker MagratuS is a broker, both are using the same business model.
- Bitonic had started the business May 2012 MagratuS started the business May 2012.
- Bitonic has all the required business licenses and permissions MagratuS operates without a business registration or there is no information available about it (Bitonic's business model is more stable and safer for clients).
- Besides buying and selling cryptocurrencies, Bitonic provides the following extra services: Merchant Services MagratuS provides us with less services, related to the crypto exchange: it allows us to purchase and sell digital currencies.
- Bitonic supports 1 cryptocurrencies MagratuS allows to exchange 1 cryptos (MagratuS & Bitonic support the same number of digital currencys).
- 1 fiat currencies are available at Bitonic You'll be able to use 3 fiat currencies to swap with digital ones at MagratuS (MagratuS supports 2 fiat currencies more).
- Bitonic accepts deposits from and allows withdrawals to 3 fiat payment systems / banks MagratuS allows the user to utilize 2 various fiat payment systems and/or banks (MagratuS supports 1 banks and fiat payment systems less).
- Bitonic charges 0.0% fee MagratuS charges the client -1% — 15% fee, depending on the currency, payment system, etc. (MagratuS has higher fees, generally).
- Buying limits at Bitonic start from $1 and are up to $2,719 Deposit/withdraw limits at MagratuS are $1 — $33,081 depending on the payment method (MagratuS has higher buying/selling limits).
- Bitonic allows registrations from 46 countries; we are sorry, but United States is not supported this time You may register at MagratuS if you reside in one of 255 countries; it serves United States among others (MagratuS supports more countries worldwide).
- During the account verification Bitonic usually asks for 3 documents and/or procedures: (id verification, phone confirmation, a bank account verification) User identification at MagratuS usually consists of 1 procedure: id verification (MagratuS 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — Bitonic or MagratuS — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
MagratuS vs BTCBIT
Let's compare the key features of these two platforms to see which one suits you best:
- BTCBIT is a broker MagratuS is a broker, both are using the same business model.
- BTCBIT had started the business May 2017 MagratuS started the business May 2012 (MagratuS operates 5 years and 0 months longer).
- BTCBIT has all the required business licenses and permissions MagratuS operates without a business registration or there is no information available about it (BTCBIT's business model is more stable and safer for clients).
- Besides the digital currencies exchange, BTCBIT provides no extra services MagratuS provides more exchange-related services: it allows us to purchase and sell digital currencies.
- BTCBIT doesn't have any fiat currencies supported You'll be able to use 3 fiat currencies to swap with digital ones at MagratuS (MagratuS supports 3 fiat currencies more).
- BTCBIT doesn't allow any fiat payments MagratuS allows the user to utilize 2 various fiat payment systems and/or banks (MagratuS supports 2 fiat payment systems and banks more).
- BTCBIT allows registrations from 221 countries; United States is among the supported ones You may register at MagratuS if you reside in one of 255 countries; it serves United States among others (MagratuS supports more countries worldwide).
- During the account verification BTCBIT usually asks for some (it depends) documents and/or procedures User identification at MagratuS usually consists of 1 procedure: id verification (MagratuS 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — BTCBIT or MagratuS — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
MagratuS vs PayBis
Let's compare the key features of these two platforms to see which one suits you best:
- PayBis is a broker MagratuS is a broker, both are using the same business model.
- PayBis had started the business April 2015 MagratuS started the business May 2012 (MagratuS operates 2 years and 10 months longer).
- PayBis is an ordinary company without licenses, etc. MagratuS operates without a business registration or there is no information available about it (PayBis's business model is more stable and safer for clients).
- Besides buying and selling cryptocurrencies, PayBis provides no extra services MagratuS provides the same number of services as PayBis: it allows us to purchase and sell digital currencies.
- PayBis supports 8 cryptocurrencies MagratuS allows to exchange 1 cryptos (MagratuS supports 7 cryptocurrencies less).
- 3 fiat currencies are available at PayBis You'll be able to use 3 fiat currencies to swap with digital ones at MagratuS (MagratuS & PayBis support the same number of fiat currencys).
- PayBis accepts deposits from and allows withdrawals to 7 fiat payment systems / banks MagratuS allows the user to utilize 2 various fiat payment systems and/or banks (MagratuS supports 5 banks and fiat payment systems less).
- PayBis charges -2% — 13% fee MagratuS charges the client -1% — 15% fee, depending on the currency, payment system, etc. (MagratuS & PayBis charge the customer with the equal fee level, more or less).
- Buying limits at PayBis start from $20 and are up to $200,000 Deposit/withdraw limits at MagratuS are $1 — $33,081 depending on the payment method (MagratuS has lower buying/selling limits).
- PayBis allows registrations from 241 countries; United States is among the supported ones You may register at MagratuS if you reside in one of 255 countries; it serves United States among others (MagratuS supports more countries worldwide).
- During the account verification PayBis usually asks for 3 documents and/or procedures: (id verification, phone confirmation, address confirmation) User identification at MagratuS usually consists of 1 procedure: id verification (MagratuS 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — PayBis or MagratuS — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
MagratuS vs XMLGold
Let's compare the key features of these two platforms to see which one suits you best:
- XMLGold is a broker MagratuS is a broker, both are using the same business model.
- XMLGold had started the business May 2006 MagratuS started the business May 2012 (XMLGold is working for 6 years and 0 months longer time).
- XMLGold is an ordinary company without licenses, etc. MagratuS operates without a business registration or there is no information available about it (XMLGold's business model is more stable and safer for clients).
- Besides the digital currencies exchange, XMLGold provides no extra services MagratuS provides more exchange-related services: it allows us to purchase and sell digital currencies.
- XMLGold doesn't have any fiat currencies supported You'll be able to use 3 fiat currencies to swap with digital ones at MagratuS (MagratuS supports 3 fiat currencies more).
- XMLGold doesn't allow any fiat payments MagratuS allows the user to utilize 2 various fiat payment systems and/or banks (MagratuS supports 2 fiat payment systems and banks more).
- XMLGold allows registrations from 255 countries; United States is among the supported ones You may register at MagratuS if you reside in one of 255 countries; it serves United States among others (MagratuS & XMLGold support the same number of countries and territories).
- During the account verification XMLGold usually asks for some (it depends) documents and/or procedures User identification at MagratuS usually consists of 1 procedure: id verification (MagratuS 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — XMLGold or MagratuS — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
MagratuS vs MagneticExchange
Let's compare the key features of these two platforms to see which one suits you best:
- MagneticExchange is a broker MagratuS is a broker, both are using the same business model.
- MagneticExchange had started the business May 2011 MagratuS started the business May 2012 (MagneticExchange is working for 1 years and 0 months longer time).
- MagneticExchange is an ordinary company without licenses, etc. MagratuS operates without a business registration or there is no information available about it (MagneticExchange's business model is more stable and safer for clients).
- Besides buying, selling and exchanging cryptocurrencies, MagneticExchange provides no extra services MagratuS provides us with less services, related to the crypto exchange: it allows us to purchase and sell digital currencies.
- MagneticExchange supports 5 cryptocurrencies MagratuS allows to exchange 1 cryptos (MagratuS supports 4 cryptocurrencies less).
- 5 fiat currencies are available at MagneticExchange You'll be able to use 3 fiat currencies to swap with digital ones at MagratuS (MagratuS supports 2 fiat currencies less).
- MagneticExchange accepts deposits from and allows withdrawals to 24 fiat payment systems / banks MagratuS allows the user to utilize 2 various fiat payment systems and/or banks (MagratuS supports 22 banks and fiat payment systems less).
- MagneticExchange charges -1% — 31% fee MagratuS charges the client -1% — 15% fee, depending on the currency, payment system, etc. (MagratuS & MagneticExchange charge the customer with the equal fee level, more or less).
- Buying limits at MagneticExchange start from $6 and are up to $11,796 Deposit/withdraw limits at MagratuS are $1 — $33,081 depending on the payment method (MagratuS has higher buying/selling limits).
- MagneticExchange allows registrations from 254 countries; we are sorry, but United States is not supported this time You may register at MagratuS if you reside in one of 255 countries; it serves United States among others (MagratuS supports more countries worldwide).
- During the account verification MagneticExchange usually asks for 2 documents and/or procedures: (id verification, card verification) User identification at MagratuS usually consists of 1 procedure: id verification (MagratuS 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — MagneticExchange or MagratuS — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Conclusion: is MagratuS legit or scam?
Now it's time to draw a conclusion, is MagratuS a scam or is it a legit exchange? We hadn't yet collected enough testimonials to assign MagratuS a rating, but according to our research it's a good exchange. We have found no evidence that this broker is a scam so it should be save to deal with. Let's summarize what we like most (and what we don't) about the MagratuS:
- There is no information about the business entity, regulatory compliance, etc.
- The broker doesn't hold customers' funds, instantly delivering monies to your wallet
- This company has being in the business for a long time; exchange was started 7 years and 10 months ago
- Exchange supports 1 cryptocurrencies and 3 fiat ones (totally 2 payment systems / banks are available). There are no extra services besides the digital currencies exchange
- It charges high fees: from -1% to 15% depending on the payment method; although the exchange of smaller amounts is rather inexpensive
- The purchase and withdrawal limits are high and you may exchange small amounts, if you wish to: from $1 to $33,081 USD, it depends on a payment system choice
- MagratuS allows registrations from 255 countries; people from United States may use the service