NMLSRegulated
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NYSDFSRegulated
Digital Currency License
FinCENExceeded
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MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000154749830), please be aware of the risk!
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Bakkt
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Aspect | Information |
Company Name | Bakkt |
Registered Country/Area | United States |
Founded Year | 2018 |
Regulatory Authority | NMLS and NYSDFS |
Cryptocurrencies available | Bitcoin (BTC) |
Deposit & Withdrawal | Bank transfers, Mobile payments |
Customer Support | 24/7 support via phone/email |
Bakkt is a virtual currency exchange based in the United States. The company was founded in 2018 and is regulated by NMLS and NYSDFS. It offers Bitcoin (BTC) as the only cryptocurrency available for trading. Bakkt operates through its own trading platforms, namely the Bakkt App and the Bakkt website.
Pros | Cons |
Regulated by DYSDFS | Limited number of cryptocurrencies available |
User-friendly trading experience | No maximum leverage |
Variable response time for customer support |
Bakkt Marketplace, LLC, the regulatory situation of the exchange, operates under the oversight of several regulatory agencies.
The company is regulated by the Nationwide Multistate Licensing System (NMLS), as indicated by their regulation number 1890144.
They are also regulated by the New York State Department of Financial Services (NYSDFS) through a digital currency license. However, the specific regulation number for this license is unreleased.
Additionally, Bakkt operates under the supervision of the Financial Crimes Enforcement Network (FinCEN) and holds an MSB license with regulation number 31000154749830, while the regulatory status is exceeded.
Bakkt unlocks and safeguards cryptocurrencies, overseeing their regulation and protection. With Bakkt® Crypto Payout, you can offer cryptocurrency as a payment method on payday, enabling a straightforward, swift, and secure means of receiving funds.
Bakkt currently offers Bitcoin (BTC) as the only cryptocurrency available for trading. However, it is important to note that cryptocurrency prices can fluctuate significantly on exchanges due to various factors such as market demand, supply, and overall market sentiment.
Bakkt's fee structure may have evolved since then, so it's important to verify the most up-to-date information directly from Bakkt's official website or through other reliable sources.
Bitcoin Futures Trading Fees: Bakkt offers physically settled Bitcoin futures contracts, which means that upon contract expiration, traders receive actual Bitcoin rather than the equivalent value in cash. The fees associated with trading these futures contracts can include a combination of trading fees, settlement fees, and other related costs.
Custody Fees: Bakkt provides custody solutions for digital assets, which involve storing cryptocurrencies securely on behalf of clients. Custody fees can depend on factors such as the type and quantity of assets being stored, the level of security and services required, and the duration of storage.
Conversion Fees: Bakkt may also offer cryptocurrency conversion services, allowing users to convert one cryptocurrency into another. Conversion fees can include a spread (the difference between the buying and selling prices) as well as a transaction fee.
Withdrawal Fees: Cryptocurrency withdrawal fees can apply when you're moving your assets from the Bakkt platform to an external wallet or exchange. These fees can vary depending on the cryptocurrency being withdrawn and network congestion at the time.
Deposit Fees: Bakkt might have deposit fees associated with certain funding methods, such as bank transfers or credit card deposits.
Trading Platform Fees: If Bakkt offers spot trading or other types of trading beyond futures, there might be trading fees associated with those services as well.
Bakkt unlocks and safeguards cryptocurrencies, overseeing their regulation and protection. With Bakkt® Crypto Payout, you can offer cryptocurrency as a payment method on payday, enabling a straightforward, swift, and secure means of receiving funds.
Exchange | Binance | Bakkt | Coinbase |
Fees | 0.012%-0.10% | 0.2% | 0% - 3.99% |
Cryptos Available | 350+ | 1 | 200+ |
Website | BINANCE.com/en | Bakkt.com | coinbase.com |
Q1: What cryptocurrencies can I trade on Bakkt?
A1: Bakkt offers major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Q2: How does Bakkt handle user data and privacy?
A2: Bakkt prioritizes data security and privacy, adhering to strict measures to safeguard customer information and comply with privacy regulations.
Q3: What order types does Bakkt support?
A3: Bakkt offers diverse order types including market, limit, and stop orders, catering to various trading strategies.
Q4: Is Bakkt's platform stable?
A4: Bakkt prioritizes platform stability through infrastructure investments, aiming to minimize disruptions for a reliable trading experience.
Q5: Will Bakkt expand cryptocurrency offerings?
A5: Bakkt may consider expanding its offerings based on market demand and regulations, ensuring transparent communication with users.
User 1:
“Yo, Bakkt's been solid for me! Security's tight – I'm not losing sleep over my crypto getting swiped. They're regulated, which gives me peace of mind. Interface is clean, easy to navigate. Liquidity's been good too, no prob making trades. Only thing, wish they had more altcoins. Customer support's been chill, they got back within a day. Trading fees? Meh, not the cheapest. But privacy's on point, and they're serious about data. Deposits are snappy, but withdrawals took a bit longer than I hoped. Still, dig the different order types they offer. So far, no major crashes – exchange seems stable. I'm sticking around!”
User 2:
“Okay, gotta share my Bakkt experience. Security's A+, regulated & all. Interface is slick, but it's like a maze sometimes. Liquidity's usually good, except during those crazy market swings. Limited cryptos, mostly big names. Had an issue, and their customer support was frustratingly slow to respond. Trading fees eat into profits, wish they were lower. Privacy-wise, they seem legit. Deposits hit fast, but withdrawals? Ugh, took ages! Different order types are a plus, helps manage risk. No major crashes, but had a laggy day. Overall, it's decent, but got room for improvement.”
2 ratings