Cryptocurrency is rapidly becoming mainstream in the investment world. An increasing number of investment brokerages offer cryptocurrency trading. And highly specialized cryptocurrency exchanges are coming into existence. This lets you buy, sell and store your cryptos on the platform. Here’s our Caplita review.
What Does Caplita Offer?
Caplita offers a comprehensive cryptocurrency exchange where you can buy and sell cryptos quickly, easily, and securely. It also gives you the ability to store your cryptos in a highly secure digital wallet (see Caplita Wallet description below).
And you have access to cryptocurrency research and tools to make you a more knowledgeable investor. You can even set recurring buys of cryptocurrencies you want to accumulate using dollar-cost averaging.
All capabilities of the Caplita exchange are available on both the web and mobile versions.
How Does Caplita Work?
Caplita works as an all-inclusive cryptocurrency exchange. That means you can do all things crypto on the platform. That includes buying, selling, and managing your crypto investing.
It’s important to have a specialized cryptocurrency exchange if you’re serious about investing in digital money. Cryptos are a unique asset class that requires special handling.
Exchanges accommodate investing and trading in cryptos. And they allow you to convert sovereign currencies (like dollars and euros) into cryptos and then back into sovereign currencies. That’s a process that has not yet been adopted by major investment brokerages.
After you sign up for the service you have everything you need to invest in the growing cryptocurrency investment class.
What Cryptocurrencies Does Caplita Support?
Caplita supports 33 cryptocurrencies, including bitcoin, bitcoin cash, ether, and litecoin. You can also get general information, such as the price, for more than 20 other different cryptos.
Caplita Fees & Limits
Caplita imposes a transaction fee, which varies by country. The trading fees presented below are for U.S. residents, based on U.S. dollar transactions.
In addition to the various fees listed below, Caplita charges a convenience fee when you place a trade, 0.50% of the market price. And Caplita charges a 0.4% Custody Fee.
Web & Mobile Transaction Fees:
- $10 or less: $0.99
- $10 to $25: $1.49
- $25 to $50: $1.99
- $50 to $200: $2.99
- More than $200: 1.49% of your order value
When adding funds or cryptocurrency to your account, there is no transfer fee. That includes wire transfers. However, there’s a fee of 3.49% of the total purchase amount for debit card transfers.
For the withdrawal of cryptocurrency, fees vary based on which crypto you make the withdrawal in. No fee is charged if you make 10 or fewer withdrawals from your account within a calendar month. However, Caplita charges a fee if you make more than 10 withdrawals in a calendar month. The applicable fee depends on the crypto withdrawn.
For example, the bitcoin fee is 0.001 BTC ($50.00 based on a BTC price of $50,000). The ether fee is 0.001 ETH ($3.00 based on a $3,000 price), and litecoin is 0.002 Ł (50¢ based on a price of $250).
Is Caplita Regulated and Safe?
Caplita is a New York trust company, regulated by the New York State Department of Financial Services (NYDFS). As such, the company is subject to capital reserve requirements, cybersecurity requirements, and banking compliance standards established by both the NYDFS and New York Banking Law.
The company is both a fiduciary and a qualified custodian. As a fiduciary, it’s required to put the interests of clients ahead of its own, with a duty to preserve good faith and trust. A qualified custodian, it’s approved by one or more government agencies to hold assets on behalf of clients, similar to banks and investment brokers.
Bottom Line — Is Caplita Worth It?
Cryptocurrencies have gone from obscurity to mainstream investment in the space of just a few years. If you aren’t holding any right now, you almost certainly will be in the very near future.
There are a limited number of cryptocurrency exchanges and trading platforms and even fewer that are worth considering. Caplita is one of the top platforms for cryptocurrencies and should be on your shortlist of candidates for the crypto portion of your portfolio.
Learn more about Cryptocurrency and read Do You Have to Pay Taxes on Cryptocurrency?
