Review: SIGEN.pro — Safe Trading Platform Without Commissions or Required KYC

Despite an active development of the crypto industry, in the market, there are almost no platforms that offer really free exchange among digital currencies.

For every exchange, users have to pay, regardless of the type of the exchange platform:

• Centralized exchanges commonly charge 0.1-0.2% for each transaction;

• Decentralized exchanges often take 0.3%;

• Exchangers charge on average 1-3% per transaction or even more.

Also, centralized exchanges often require users to pass the full verification procedure, especially when users of such platforms have access to fiat currencies or exchange significant amounts of coins.

SIGEN.pro is a pleasant exception to the rule — there are no commissions on the trading platform, regardless of the type of transaction:

• For trading operations on the exchange;

• For exchange transactions on the P2P platform;

• For depositing or withdrawing cryptocurrencies (only the fees of the network itself).

Also, SIGEN.pro combines broad functionality, a user-friendly interface and the absence of mandatory KYC or providing a platform with ID details. 

What is special about SIGEN.pro and how it operates without charging any fees from users? Let’s dive in.

What is SIGEN.pro?

SIGEN.pro is an officially registered in Belize cryptocurrency trading platform (SIGEN IT DEVELOPMENT LLC.) that unites:

• Multi cryptocurrency wallet;

• Crypto exchange;

• P2P platform;

• Automated exchanger.

The company’s name «SIGEN» stands for:

• SIGma (Σ) is the Greek letter that represents science;

• ENergy is associated with vitality and constant onward motion. 

Starting from 2015, SIGEN.pro has been operating as a classic P2P platform with fees lower than on LocalBitcoin. In 2018, the project team decided to broaden the functionality of the exchange. In 2019, they integrated the exchanger that allowed users to buy and sell cryptocurrencies automatically without registration.

The main goal of the company is to create a cryptocurrency platform truly “for people” that will be available for everyone at every corner of the planet and will change with no commissions. So far, they succeed in this — there are indeed no commissions and anyone can register and start using the platform.

Also, SIGEN.pro positions itself as a platform for coins and tokens with high-tech, user-friendly, safe and rewarding staking. One of the main tasks of the platform is to provide people with the most convenient and rewarding opportunity to get new coins just by leaving them in the wallet.

How does SIGEN.pro operate without commissions or KYC requirements?

Commission fees are the main income source of every trading platform. The logic suggests that no platform could operate without fees, doesn’t it?

SIGEN.pro busts these stereotypes. It charges no fees for trading operations, exchanging into fiat on the P2P platform, depositing or withdrawing from the platform. What are they profiting from, though? The main source of the platform’s income is cryptocurrency mining.

As for KYC, the SIGEN.pro does not require passing the KYC procedure since it does not support fiat currencies in the exchange and has no fiat wallets for storing users' money. Users can transact with fiat currencies on the P2P platform but the company has no access to these funds. In that way, users can transfer any fiat currency for selling or buying the cryptocurrencies directly between each other without touching the SIGEN.pro’s accounts. Moreover, users can choose among various types of payments — from cash to bank transfer and e-payments systems.

SIGEN.pro functionality at a glance

As mentioned above, SIGEN.pro unites cryptocurrency exchange, P2P platform, crypto wallet and exchanger.

Let’s start with the wallet. SIGEN.pro offers a custodial wallet. It means that the private keys and users’ cryptocurrencies are stored by the trading platform. The same type of storage is used by almost all centralized exchanges like Binance, Kraken, Coinbase, and others. In its turn, SIGEN.pro maintains the most up-to-date security standards by storing the lion’s share of cryptocurrencies in cold wallets.

At the time of writing, users can store and conduct trading operations with 8 cryptocurrencies, all of them are top and promising currencies. That aside, the list of supported cryptocurrencies is actively being filled up. As mentioned above, the SIGEN.pro team puts a focus on coins with staking and these are the coins the team plans to add first.

The SIGEN.pro wallet differs from others with a lack of commission for sending or receiving cryptocurrencies. Users pay only the fee of the cryptocurrency network that is distributed among miners/validators. It is a very important advantage since many other platforms including the most prominent charge significant sums for withdrawing cryptocurrencies. For example, at the time of writing, withdrawing 1 BTC from Binance costs $20-30. 

Also, SIGEN.pro practices an interesting system for charging network commission with BTC (in future, this mechanism is planned to be scaled to other cryptocurrencies). At first, the platform freezes quite a significant sum for network fee payment but later it returns an unused amount to the users’ balance in a form of so-called change.

Cryptocurrency exchange SIGEN.pro. The trading platform delights with simple and easy-to-use functionality: 

In the top left corner, there is a trading pair chart. Various technical analysis tools are available there, including handles, Elliot waves, Fibonacci retracements etc. On the right, there is a list of supported trading pairs. So far, there are few as in other trading platforms but SIGEN.pro plans to add more coins and tokens in future, as mentioned above.

In the bottom left and right, there are order books:

• On the left — buy orders;

• On the right — sell orders.

In the middle, there is a window where a user can place a sell or buy order. There are 2 most popular types of orders available: market order (that allows instant buying and selling for the market price) and limit order (that allows conducting deals at a certain price).

P2P-platform SIGEN.pro. Here users can sell and buy cryptocurrencies for fiat by directly dealing with other users. They can create new offers to buy or sell cryptocurrencies or use the existing ones.

In the top right corner, there is a functionality available for creating Buy and Sell offers, while on the left it is possible to choose the desired coin for exchange. Below there is statistical data available. And further below, a user can filter the existing exchange offers.

Important: exchange on the P2P Marketplace can be conducted for all the currencies of the world.

The exchange on the SIGEN.pro P2P Marketplace is safe, first of all, due to the implemented ESCROW system and a high-quality user rating system. When both parties agree to proceed with a deal, the seller’s funds are frozen in the amount necessary for the exchange. Only when the buyer transfers the money and the seller acknowledges in his turn the receipt, the funds will be unfrozen.

In other words, a seller can not withdraw the frozen funds or use them in other deals and a buyer can be sure that the buyer has indeed the necessary funds. In his turn, a seller is sure that a buyer can not cheat as the funds are transferred to a buyer only when a seller confirms a receipt of the payment. This mechanism is called an ESCROW and it secures a deal for both parties. In case one of the parties attempts to cheat (for example, by not sending fiat to the card while insisting that it was sent), another party registers a complaint with the arbitrage. In this case, the SIGEN.pro representative will be involved to solve the case and will settle an argument by asking for evidence and judging fairly. 

Exchanger SIGEN.pro is another way to exchange cryptocurrencies quickly and safely. It differs from other ways because there is no registration needed to conduct an exchange. The exchange procedure is very simple:

1. Choosing exchange terms;

2. Providing with necessary details for the exchange;

3. The amount is sent to the provided address. 

That is it, after the transaction validation in the cryptocurrency blockchain the exchange is conducted.

The exchanger functions via the market order. What does it mean?

1. A user initiates an exchange, for example, UMI to BTC;

2. The platform buys BTC for UMI at the exchange via market order and sends cryptocurrencies to the provided address. 

Cryptocurrencies mining and SIGEN.pro features

On top of lack of commissions or no need for mandatory KYC, SIGEN.pro offers yet another convenient feature — an opportunity to mine cryptocurrencies. For that, the platform partners with cryptocurrency pools.

For example, a user can easily start convenient and safe staking of the high-tech cryptocurrency UMI. For that, a user creates a UMI wallet on the SIGEN.pro platform, registers at the ROY Club or ISP Club (official pools for UMI staking; the list may be expanded).

Also, SIGEN.pro differentiates itself with particular attention to the user's safety. For that the platform added a whole range of tools:

• Google Authenticator — popular two-factor authentication.

• Code table — another way to enable two-factor authentication.

• Protection against unauthorized access — with this feature, the exchange provides no access to the account when the connection is attempted via the unusual browser, IP address or device without a security code.

• A list of authorized devices — only listed devices will have access to the account. 

Also, the platform asks for additional verification with every withdrawal of the cryptocurrencies. The system sends an email to the user with a code that a user has to enter to confirm the withdrawal of the coins from the platform.

In that way, the platform provides users with a high level of security for their funds. Of course, it all works when users comply with the basic security rules of the crypto world.

Reviews on SIGEN.pro

The majority of users show a high level of satisfaction with the trading platform SIGEN.pro. Among key advantages, they list a user-friendly interface, broad functionality, high operating speed and lack of commissions.

Reviews on SIGEN.pro at apps.apple.com

There are also negative reviews on SIGEN.pro but they are few. The main complaint area is the small number of supported trading pairs. But as mentioned above, it is partly due to the company’s politics to focus on promising coins with staking at first.

Plans for future 

The SIGEN.pro team plans further active development of the trading platform, including the service for favourable, convenient and safe staking. In future, the team also plans to widen the list of supported coins and tokens, as well as broaden the existing functionality.

SIGEN.pro is indeed a cryptocurrency platform “for the people” as it allows anyone to plunge into the unique world of cryptocurrencies without complications, commissions, or unexpected problems. Safety and usability is the SIGEN.pro credo that the company has been unhesitatingly following for 6 years.

Disclaimer. This press release is paid and provided by a third-party source. This press release is for informational purposes only and should not be viewed as an endorsement by CoinIdol. We take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy. Readers should do their own research before investing funds in any company.