CrossTower cryptocurrency exchange was launched in 2019 with the goal to make cryptocurrency trading simple and easy to access for millions of new and existing cryptocurrency traders and investors worldwide. The platform has offices in the US, Bermuda, and India.
There are no restrictions on where users can access the platform, however, new users must complete basic KYC verification processes to get full access to the features of the CrossTower crypto exchange. CrossTower cryptocurrency exchange requires the verification of customer identities to ensure that they does not engage in any activities that are prohibited by the United States Department of the Treasury Office of Foreign Assets Control or other government sanctions.
Besides, note that the platform is registered as a Money Service Business (MSB) by the Financial Crimes Enforcement Network (FinCEN). Thus, it is subject to the Bank Secrecy Act (BSA) and the USA Patriot Act which requires MSBs to put proper Anti-Money Laundering and Counter-Terrorism Financing measures in place.
Markets
There are over 10 CrossTower trading pairs available on the platform. These pairs are supported by cryptos such as BTC, ETH, BCH, LINK, LTC, and more. Besides, it supports trading with one fiat currency – USD. Using the CrossTower spot trading option, users can trade with these cryptocurrencies and make profits with them. The platform also supports margin or leveraged trading, as well as perpetual futures trading options. Also, note that CrossTower supports Over-The-Counter (OTC) trading, which allows the trading of crypto assets in huge batches.
CrossTower exchange fees are different for individual and institutional traders. The platform charges no fees for individual taker trades but has a tiered fee system for maker trades. Traders with a CrossTower trade volume of less than 30 BTC over a 30-day period pay 0.05% for maker trades, while traders who range between 30 BTC to 100 BTC pay only 0.03%. Finally, traders with over 100 BTC in trades pay only 0.01%. For institutional traders, there is a flat 0.06% taker trade fee imposed on all trades.
The CrossTower crypto price for BTC withdrawals is 0.0004 BTC. Other cryptocurrencies have their own withdrawal fees and it is highly dependent on the cryptocurrency involved. For fiat withdrawals, bank processing fees incurred are paid by the user. The platform supports crypto and fiat deposits. While crypto deposits are free of charge, fiat deposit charges are paid to the banks and payment processors utilized by the user. Furthermore, the platform supports deposits and withdrawals through bank transfers, credit cards, and debit cards.
Other Services
Apart from trading fungible assets, CrossTower crypto exchange also launched an NFT marketplace that enables users to trade a wide variety of NFT collections. This means that the platform is not limited to just cryptocurrencies, but also offers various types of non-fungible tokens. In order to access this marketplace, you must connect an external wallet (such as Metamask) with it.
CrossTower cryptocurrency exchange also offers a referral program that allows existing users to refer their friends and benefit from it. User A gets 25% of the trading fees that user B generates, for as long as they are active on the platform. This means that if you (user A) introduce your friend (user B) to CrossTower Exchange, you will be entitled to 25% of their trading fees forever.
Moreover, the exchange has a Listing feature, which allows users to apply for listing their desired tokens on the exchange. If they get enough vote, these tokens get listed.
Lastly, the CrossTower crypto exchange offers various resources that help novice traders to learn about trading or seasoned ones to catch up with the latest buzz of the crypto world. These resources include CrossTower Classroom, a news and events section, market insights, an education section, and various videos.
About the Company
Established in 2019, CrossTower cryptocurrency exchange is an internationally renowned Web 3.0, crypto, and NFT marketplace. It provides a range of financial and NFT products to customers across the U.S., India, Bermuda, and other countries around the world. CrossTower provides access to cryptocurrencies and other digital assets to both novice retail investors and seasoned institutional players because of its substantial background in trading, technology, operational infrastructure, and progressive pricing structures. It was founded by Kapil Rathi and Kristin Boggiano.
Kapil Rathi is the co-founder and head of CrossTower. He brings a wealth of experience from his past roles in finance, such as being the COO at AlphaPoint and having executive positions at NYSE, Bats, ISE & Cboe. His career has also included product & technology leadership posts at AT&T and Aithent. Kapil boasts an impressive list of accomplishments which include managing four equity options exchanges for Cboe, launching a new options exchange for Bats, and creating multiple trading products at ISE.
Kristin Boggiano is the co-founder and president of the platform. She brings more than two decades of experience in capital markets from both buy-side and sell-side roles. Before starting CrossTower, she was Chief Legal Officer at AlphaPoint, Managing Director at Guggenheim's algorithmic trading platform, and Special Counsel at Schulte Roth & Zabel. Additionally, she also established DARLA (Digital Asset Legal Alliance).
CrossTower cryptocurrency exchange is currently expanding into other markets. On November 28th, 2022, CrossTower revealed that it had come to a deal with BEQUANT which is an eminent prime brokerage and digital asset exchange. In addition to this, CrossTower also declared the establishment of their first ESG Crypto Fund in collaboration with the Lydian Group for investing and reconstructing enterprises that have promising potential. BEQUANT's institutional trading and prime brokerage platform will allow CrossTower to broaden its range of professional-level services to a global audience, comprising the U.S., Bermuda, Europe, Latin America, and Asia. By securing this purchase, CrossTower cryptocurrency exchange will add over 600 high-end exchange customers who generate more than $400 billion in annual turnover with multiple exchanges connected to its platform.
