Review on CompareTransfer by cun zuo

Name: CompareTransfer
Item: CompareTransfer
Rating: 4

May 11, 2021

Best platform

As a Comparetransfer's User Experience is exceptional when compared to other altcoin exchanges, although not perfect. The website itself is easy to navigate and strikes a nice balance between functional, visually pleasing and elegant; The customer service surprised us, in a good way - the live chat representative became available very quickly and did their best to answer our questions. However, they still have some things to improve, mainly revise descriptions of some sections i.e Fees to make them more understandable and consequently reduce support tickets.

Comparetransfer's performance is average, with almost all points in this category deducted due to the many allegations that Comparetransfer allows wash trading on its platform in order to inflate volume numbers; Nevertheless, they do manage to attract significant volumes to their platform and many of the trading pairs they offer see high trading activity compared to other exchanges.

In the trust factor, Comparetransfer receives a favorable score - although we do have a few concerns. Firstly, it is incorporated and operated from Singapore, where crypto regulations are advanced and promote blockchain startups. Second, Comparetransfer does provide users with multiple ways to safeguard their accounts, although not enough: while 2-factor authentication is available using both SMS and Authenticator apps, the platform does not require any special confirmation if the account is logged into from an unfamiliar IP address or location, and there is no option to whitelist addresses for asset withdrawal, allowing funds to be sent to any address input.

Comparetransfer was never hacked, even though they do present a lucrative target for attackers, and we believe the exchange takes these threats seriously and does everything in their power to shield the exchange from hacks. Is also worth mentioning that Comparetransfer does store user funds in cold storage to restrict access to them.

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