The broker Stellarport is not associated anyhow with the Stellar Foundation. It is a Market Maker that offers access to the Stellar Blockchain and Stellar Wallet. It offers trading on Stellar crypto coins (XLM) and other cryptocurrencies on a decentralised exchange. In addition, it supports only one fiat currency, the Chinese Yuan (CYN). The overall presentation and performance of Stellarport will be completely discussed giving you the possible advantages and disadvantages of it in this Stellarport review. Make sure to read it completely.
To make a neutral and trustworthy review we always discuss all the possible advantages and disadvantages of any broker under consideration. Initially, we will talk about the possible advantages of Stellarport. The offerings of Stellarport is the combination of a central trading system and decentralised technology. Traders are able to hold their own funds in the provided wallets and can trade on the trading platform. It makes hack risk unlikely. The offers of Stellarport are many, it is consisting of Stellar Lumens, Bitcoin, Ripple, Litecoin and other tokens like Mobi, Smartlands, Kin, Cryptonite etc. Only fiat currency supported is CNY that is Chinese Yuan. It provides access to many exchanges at once like Ripplefox, Intersteller exchange and others. The Stellar Blockchain effectively settles all the transaction within 10 sec. Market Maker is provided free of coat service but Market Taker needs to pay 0.15% per trade. It is less commission other than the average what another exchange takes. The broker’s platform is advanced and it offers access to the electronic wallet as well.
The disadvantages of Stellarport is discussed below. It offers trading over only one crypto coin Stellar Lumens. Other crypto coins must be converted to XLM and then traded. The overall services of this broker depend on Stellar Blockchain network. If this has some issues in operation that means Stellarport will affect immensely. Also, there no margin trading available and leverages are absent. Nevertheless, we don’t know anything about the company behind Stellarport, transfer fees, from where it is operated, overall company experience and background. Also, we don’t know how deposits and withdrawals are handled by this broker.
Is Stellarport scam or legit?
The broker Stellarport is anonymous and not regulated. The offered services are based on only one network. The information about withdrawal and deposit, licensing, other commission and fees are missing on the official website. Therefore, we call Stellarport is a potential scam cryptocurrency broker.