Guide to Evercoin Crypto Exchange
Evercoin is a crypto exchange platform that allows its users to swap an array of tokens without going through any registration. By removing the registration process, Evercoin has introduced a sort of “pay as you go” model when it comes to buying and selling cryptocurrencies.
Evercoin was founded in 2017 by Talip Ozturk, who developed Hazelcast, an open-source in-memory data grid based on Java. Oztuek’s idea behind Evercoin was to introduce a platform that doesn’t require weeks of verification before being able to use any exchange services. Since the Evercoin crypto exchange holds significant promise, let’s see what the exchange has to offer.
Connecting your Evercoin Address to ZenLedger For Your Crypto Tax Forms
As one of the most comprehensive cryptocurrency tax software options on the market, we have import instructions for well over 500+ exchanges.
Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you'll see a table that outlines the possible methods. We support a direct API code import for many centralized exchanges, while others may require a CSV import. Decentralized exchanges may require a wallet address.
To import your transactions from an exchange, simply navigate to the "Exchanges" tab of the "Imports" page. Select the exchange that you are looking to import, and instructions will be provided for that specific exchange!
Cryptocurrencies Supported by Evercoin Crypto Exchange
The Evercoin exchange supports more than 18 tokens such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Bitcoin Cash (BCH)
- Stellar (XLM)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin SV (BSV)
- Bitcoin Gold (BTG)
- Dogecoin (DOGE)
- Cardano (ADA)
- Tron (TRX)
- Qtum (QTUM)
- Dash (DASH)
- Decred (DCR)
- BitTorrent (BTT)
- USD Coin (USDC)
- Zcash (ZEC)
The Evercoin team has stated that they are going to include more ERC 20 tokens to their listing in the near future. Also, one important thing to note about the Evercoin exchange is that it only supports USD fiat currency (depending on your area of residence).
Residents from countries such as Syria, Iran, the Crimea region, North Korea, Cuba, and countries from economic sanctions levied by the US against them are prohibited to use the platform.
User Interface and Experience
The Evercoin exchange’s interface is designed with simplicity in mind. The interface shows wallet, market, real-time crypto-to-crypto exchange, and history log. This makes navigating the features of the exchange a breeze.
The Evercoin app has built-in customer support, which allows users to get in touch with tech support in case they face any issues related to the account.
How Does Trading on Evercoin Work?
To trade on the Evercoin crypto exchange, the users can either visit its website or download the apps for Android and iOS. Since the platform doesn’t require any registration, traders can instantly use Evercoin’s services when they visit the platform.
The simple crypto buying and selling process is broken down below:
- First, start with the token you want to deposit and the one you want in an exchange, and then enter the amount of token you want to deposit.
- Then you have to provide your wallet address for each of the tokens
- Next, you will see the total amount of tokens you will get in exchange for the deposited token. This will also include the transfer fee and Evercoin’s fee.
- After you confirm the transaction, you have to make a deposit to the wallet address provided by the Evercoin crypto exchange.
- The transaction will be executed when the network confirms it.
But, there’s a caveat.
Evercoin crypto exchange updates the network fee provided exchange rate, and the transaction fee every few minutes to keep up with the fast-changing blockchain network rates. This results in a swift change in the final transaction fee. Therefore, the initial deposit must be made within a few minutes.
This means that to receive the same amount of tokens as intended, you need to perform the deposit within 10 minutes of setting up the transaction. If done in the said time frame, the same amount of tokens will be deposited as shown.
In addition, Evercoin has maximum and minimum limits, which are displayed on the order page. Traders have to stick to these limits at all times and if they don’t, the transaction will not be accepted.
Evercoin Fees and Payment Methods
Downloading the Evercoin app is free, but you will be charged for executing swaps through the service. Also, as mentioned earlier, the network fee, exchange rate, and transaction fee are updated frequently, and thus, the final transaction will be subjected to change. The fees range from 0.5 to 0.8 percent, but they may vary based on the transaction.
Transaction Times and Limits
The transaction’s processing time relied on the traffic on the exchange and the state of your chosen coin’s respective network. The Evercoin exchange does not function on an API that interacts with other exchanges. This is why every order has limits and it also makes sure the exchange does not run out of coins.
The platform does not keep its user's private keys and hence, they don’t have control over its user's funds. Evercoin’s non-custodial service is safe because the transactions are settled on blockchain keeping the exchange safe from hacks.
Evercoin crypto exchange’s wallet has a patent-pending recovery and backup service that prevents users from losing their funds and keys. Recently, the exchange integrated with Yubikey facilitating secure crypto storage. Yubikey encrypts the private key so that the hackers can’t find it on the trader’s phone.
Evercoin is a simple and secure crypto-to-crypto exchange that does not require a registration process for traders to use it. The user interface is simple and the addition of more ERC 20 tokens in the near future will increase the appeal of this exchange among traders.