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StormGain is a cryptocurrency derivatives platform that was founded in 2019. The platform is a centralized exchange with its headquarters in London and registered in St. Vincent and the Grenadines. StormGain is also the official sleeve partner of the English Premier League team of Newcastle United.
The exchange offers a wide range of perpetual contracts for a variety of digital assets. The exchange goes a step further than just offering leveraged trading of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and XRP.
It also offers leveraged trading of the following popular cryptocurrencies: ZCash, Bitcoin Cash, DASH, Monero, EOS, Tron, Ethereum Classic, Stellar Lumens, Bitcoin Gold, Cardano, QTUM, NEO, IOTA, OmiseGO and Nem (XEM).
All derivatives are denominated in Tether (USDT). The exchange also has four additional perpetual contracts denominated in BTC. They include those of Bitcoin Cash, DASH, Ethereum and Litecoin.
However, it is recommended that only users with experience in derivative venture into StormGain. This is because the platform offers up to 200x leverage on its Bitcoin contracts and a maximum of between 10x and 100x on its alt-coin perpetual contracts.
Your capital is at risk
One benefit of StormGain is that you can switch between live trading and Demo trading. By trading virtual funds, you will get the necessary experience needed before risking real digital assets on StormGain. The exchange also offers tutorials for first-time users of the platform.
StormGain is relatively safe. It provides the standard email and password login requirements. You also have the additional choice of enabling SMS authentication on your account that will send verification codes whenever necessary.
The platform also uses modern security technology to safeguard user funds on the platform. All digital assets on StormGain are stored in hardware wallets for additional security.
StormGain offers you the choice of trading perpetual contracts of 18 popular cryptocurrencies. These contracts do not expire and StormGain’s matching engine makes sure all orders are carried out in an efficient manner.
The 18 digital assets can be traded via the following perpetual contracts and their corresponding maximum leverage.
How does StormGain compare to other exchanges?
81% of retail CFD accounts lose money
72% of retail CFD accounts lose money
StormGain stands out from the rest with the additional option of letting you ‘swap’ between major cryptocurrencies through its Instant Exchange feature. This feature allows you to conveniently and efficiently convert between the cryptocurrencies of Tether (USDT), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP and Bitcoin Cash (BCH).
Fees for such instant exchanges range from 0.095% to 0.25% of the value of the transaction.
You can also store your digital assets on StormGain’s in-built wallet. However, the exchange only supports wallets for 6 out of the 18 digital assets you can trade on the exchange. The digital assets with supported wallets are those of BTC, Tether, Bitcoin Cash, Litecoin, Ethereum and XRP.
Digital assets deposited are safe and secure on StormGain. The use of the wallet is free for each account holder.
However, for additional safety, it is recommended that you consider storing some of your digital assets on more secure crypto hardware wallets. Below is a recommended list of industry-tested hardware wallets that will ensure your funds are safe offline.
Trading on StormGain is not limited to the desktop application via the web browser. You can also download the StormGain mobile trading app available on both the Google Play store and Apple. This means that all your trading activities can be done on the go. You can also track your crypto holdings in your various wallets through the mobile app.
StormGain also has a loyalty program aimed at rewarding you for making the choice of trading with them. Your account can fall into one of five categories, each with additional benefits as you entrust more of your digital assets with StormGain. The following table gives a brief breakdown of the perks you receive per level of loyalty.
For each friend you refer to StormGain, you stand the chance of getting paid 15% of their trading commissions. You can also opt to join StormGain’s affiliate program that allows you to profit from lucrative commissions from each client you assist in signing up for the exchange.
Creating an account with StormGain is simple and takes less than five minutes. All you have to do is follow the steps outlined below.
Once your account has been created, you can log in using the following steps.
StormGain does not have any mandatory Know-Your-Customer (KYC) procedure. All you need is a valid email, phone number and password to start using the platform.
However, there are special instances where they will request additional user information. This includes, and is not limited to, investigations related to fraud, money laundering, and any criminal activities.
StormGain allows you to buy a selection of 6 digital assets using your credit and/or debit card. The 6 supported digital assets are BTC, ETH, LTC, BCH, XRP and USDT.
Card transactions are powered by Simplex and Koinal. Both service providers support USD transactions.
However, only Simplex offers transactions denominated in the additional fiat currencies of USD, EUR, AUD, CHF, CZK, DKK, GBP, HUF, ILS, KRW, NOK, NZD, PLN, RUB, SEK, TRY and ZAR.
Your Ccapital is at risk
As earlier mentioned, the StormGain exchange supports deposits of 6 digital assets that are supported by the inbuilt wallet. To do this, you will take the following steps.
At the time of writing this, StormGain only allows withdrawals of the 6 aforementioned digital assets of Tether, Bitcoin Cash, Litecoin, Ethereum or XRP. To withdraw your digital assets, you will take the following steps.
StormGain accepts members from almost all countries worldwide.
Except for countries listed in the section below, StormGain offers its services to almost all countries in the (European Economic Area) including Austria, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom. Outside the EU, it accepts members from all over the world including Russia, South Korea and Southeast Asia.
However, StromGain does not offer trading services for residents of the following countries:
United States, Japan, Afghanistan, Bosnia and Herzegovina, British Columbia, Ethiopia, Guyana, Iran, Iraq, Lao PDR, North Korea, Quebec, Sri Lanka, Syria, Tunisia, Trinidad and Tobago, Uganda, Vanuatu, and Yemen.
As with all crypto derivatives platforms, StormGain has its structure for limits and fees associated with trading, deposits and withdrawals.
StormGain has a standard maker/taker fee model that is implemented on each trade. The exchange charges 0.04% in maker and 0.40% in taker fees across the perpetual contracts denominated in Tether (USDT). With regards to the contracts denominated in Bitcoin, the exchange charges 0.40% in maker and an equivalent 0.40% in taker fees.
The exchange does not charge any fee to deposit any of the 6 digital assets supported by the StormGain wallet. However, miners’ fees are applicable and are adjustable based on the speed at which you would like the transaction to be processed.
In the case of withdrawals, StromGain charges a standard 0.1% commission for the withdrawal of the 6 digital assets: BTC, USDT, BCH, ETH, LTC and XRP.
StromGain does not have any maximum limits when depositing or withdrawing any of the 6 digital assets of Bitcoin, Ethereum, Bitcoin Cash, Tether, Litecoin or XRP. However, it does have the following minimum deposits and withdrawals of the aforementioned digital assets.
The exchange stands out from the rest due to the fact that you can purchase the 6 major digital assets on the platform using your credit and/or debit card. You can purchase these cryptocurrencies using your Visa and Mastercard.
Credit card transactions are powered by Simplex and Koinal. With respect to Simplex, you are charged a 5% transaction fee or $10 depending on which is higher. With respect to Koinal, you pay a flat 1.5% transaction fee.
Simplex purchases can be made in the several fiat currencies of USD, EUR, AUD, CHF, CZK, DKK, GBP, HUF, ILS, KRW, NOK, NZD, PLN, RUB, SEK, TRY and ZAR . However, Koinal only supports purchasing digital assets using the USD.
StormGain’s support team can be reached via [email protected]. You can also visit the exchange’s telegram group (@StormGain) where your questions will be answered by authorized administrators. Additionally, you can give them a call at their phone number of +248 467 19 57.
The exchange website also has a knowledge base that offers tutorials and answers to commonly asked questions about the exchange.
StormGain has a list of official communications channels. This includes Facebook (@StormGain.official), Twitter (@StormGain_com) and Telegram (@StormGain). Through these social media platforms, StormGain will let its users know of any coming soon features.
StormGain and Bitmex are more or less similar in terms of not having strict verification processes. Additionally, StormGain has more to offer with its 22 perpetual contracts compared to Bitmex’s contracts of Bitcoin, Cardano, Bitcoin Cash, EOS, Ethereum, Litecoin, Tron and XRP. However, Bitmex does have an edge due to its popularity amongst retail and institutional traders.
As with StormGain, ByBit also does not have a strict KYC (Know Your Customer) procedure. However, StormGain does have an advantage over ByBit for it has more contracts to offer its traders compared to what ByBit has to offer. Although both have mobile apps, StormGain is still ahead due to the bonuses associated with storing digital assets on the 6 available wallets.
Binance is a more established exchange with a longer track record than StormGain. The Binance crypto exchange offers spot trading, staking, loans, futures and options trading, bank deposits and more. Binance offers 24 perpetual contracts with maximum leverage ranging from 50x to 125x. This means that StormGain is only 6 perpetual contracts shy of offering a similar amount as Binance. With time, StormGain will most likely evolve and offer more products and services to its retail traders.
StormGain users have the opportunity of trading 22 perpetual contracts denominated in USDT and BTC. You can deposit and withdraw the major cryptocurrencies of BTC, ETH, LTC, BCH, XRP and Tether (USDT) thus providing a lot of flexibility. Additionally, you can also buy these 6 digital assets using your Credit and/or debit card.
The crypto exchange also rewards you for storing your digital assets in the 6 available wallets on the platform. Trading and financial tracking is also made more efficient through StormGain’s mobile app available on both Google and Apple.
The exchange offers standard security in the form of logging in using an email and password. You also have the option of adding SMS 2FA protection. StormGain also stores user funds in a cold wallet.
StormGain is ideal for experienced crypto traders who are familiar with the risk involved when trading using high leverage. However, new traders have the option of using a demo account that uses virtual funds at zero risk. StormGain also offers you several tutorials to aid in the process of warming up to using the exchange.
StormGain has implemented several security measures to ensure funds are safe. Your account is protected through an email and password. You can also activate 2FA SMS authentication. StormGain additionally stores all funds in a cold wallet.
StormGain is registered in St. Vincent and the Grenadines. Its headquarters is in London, UK.
Yes. The StormGain Mobile app is available for download on Google Play and the Apple store.
The most efficient way to contact support on StormGain is through their official email: [email protected] can also talk to their Telegram admins available on the @StormGain chat.
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Bybit is a futures trading platform that allows users to trade perpetual contracts from top cryptocurrencies, namely Bitcoin, Ethereum, EOS and Ripple.