Spectrocoin Review 2023

SpectroCoin is a cryptocurrency exchange and Bitcoin wallet that offers personal IBAN accounts. The account allows you to hold, buy/sell cryptocurrency and convert crypto to fiat currency and back. It also offers crypto backed loans.

Key Takeaways

  • Dedicated European IBAN account in your own name even for non Europen residents.
  • Crypto backed loans up to 75% of collateral value.
  • Accept crypto payments for your online store.
  • Multiple deposit and withdrawal methods including SEPA, Neteller, Skrill, bank transfer, mobile money, card, etc.
  • No account opening or monthly maintenance fees.

How to Sign Up for SpectroCoin

To open your SpectroCoin account, click on “Sign up” on SpectroCoin website and fill in the registration form. After completing the registration, you will receive a confirmation email. Once your email is confirmed, log in to your SpectroCoin account to verify your identity and select “Start verification process”. Identity verification involves taking photos of your identity document and your selfie. In order to experience the most out of SpectroCoin, you must have a fully verified account. The SpectroCoin verification process might take up to 2 business days.

SpectroCoin Features

SpectroCoin IBAN

SpectroCoin allows you to take advantage of a European personal IBAN (International Bank Account Number). With SpectroCoin IBAN, you can make deposits and withdrawals via the Single European Payments Area (SEPA) network.

To apply for the dedicated IBAN account, SpectroCoin user should have a verified account at SpectroCoin, be at least 18 years old, and must have confirmed their phone number. Personal dedicated IBAN services are available to SpectroCoin users globally. Once your account is verified. You may claim your IBAN by clicking on your EUR wallet -> claim IBAN.

SpectroCoin Wallet

SpectroCoin offers a multicurrency crypto wallet, which supports Bitcoin and other cryptos. You can securely store your cryptocurrencies and access them at any time using the SpectroCoin mobile wallet that is available for Android and iOS users. You are able to link your crypto assets with the fiat currencies via your IBAN account and debit card, convert fiat to crypto and back and move crypto to external wallet.

Cryptocurrency Trading

SpectroCoin allows you to trade 12 cryptocurrencies. They include BTC, BNK, ETH, USDT, DASH, USDC, TrueUSD, LTC, ZCash, XRP and Paxos Standard (PAX). All trading pairs with Banker (BNK) token on the platform are fee-free. For example, if you wish to exchange BTC to XRP, you can save on trading fees by first exchanging BTC to BNK and then trading BNK for XRP. SpectroCoin API allows you to automate trading.

SpectroCoin Crypto Backed Loans

You can get a crypto-backed loan by pledging your cryptocurrency holdings such as Bitcoin, Ether, XEM, Dash and others as collateral and receive a loan of up to 75% of the collateral value. The platform offers instant payouts to your bank account or crypto wallet.

Exchange Cryptocurrencies

You can exchange Bitcoin and other cryptocurrencies to fiat currency and back with debit or credit card, bank wires, and mobile wallets. Available deposit and withdrawal methods include Skrill, Neteller, SEPA, Payeer, local and international transfers, mobile topups, etc.

SpectroCoin Payment Gateway

SpectroCoin enables you to accept Bitcoin and other cryptocurrencies as a merchant by integrating the SpectroCoin payment processing API and add a payment button snippet into the HTML code of your website. SpectroCoin can be integrated with WooCommerce, Magento, PrestaShop, OpenCart, Drupal, WHMCS, Zen Cart and other ecommerce platforms.

SpectroCoin Debit Card

SpectroCoin card is a Visa card denominated in EURO and can be loaded with the cardholders’ SpectroCoin wallet. This means you can convert your cryptos into Euro and start spending instantly online or physical shops. The SpectroCoin cards are only available to EEA or UK residents only.

SpectroCoin Supported Currencies

SpectroCoin supports over 40 cryptocurrencies including Bitcoin, Ethereum, Dash, Litecoin, Stellar Lumens, Ripple, Zcash, Banker and USD Coin. Supported fiat currencies are EUR, USD, GBP and RUB. You can withdraw you funds from your SpectroCoin account into your local bank.

SpectroCoin Supported Countries

SpectroCoin supports over 200 countries and territories worldwide. However, SpectroCoin services available in individual countries might differ based on local legislation or SpectroCoin third-party service providers. You can check the services offered in your country on SpectroCoin supported countries list.

SpectroCoin Fees and SpectroCoin Limits

There are no fees for opening SpectroCoin account or any monthly fees. It is also free to send cryptocurrencies to the exchange.

SpectroCoin Deposit Fees and SpectroCoin Deposit Limits

Below are available deposit methods, fees, currencies, and limitations. Additional charges depend on the service provider or the bank that you use.

MethodAvailable currenciesFeeMin feeMin deposit amountMax deposit amountDaily limitWeekly limitMonthly limitYearly limit
SkrillEUR, USD, GBP5.50%€2.00€1.00€4,000.00€8,000.00€30,000.00
NetellerEUR, USD5.50%€2.00€1.00€4,000.00€8,000.00€30,000.00
PayeerEUR, USD2.00%€1.00€1.00€3,000.00€6,000.00€20,000.00
Perfect MoneyEUR, USD2.00%€1.00€1.00€2,000.00€4,000.00€15,000.00
AdvcashEUR, USD, GBP, RUBFreeFree€1.00€3,000.00€6,000.00€20,000.00
Bank TransferEURFreeFree€0.01€100,000.00
Local Bank TransferGBP0.10%£2.50£0.01£100,000.00
International Bank WireGBP0.10%£20.00£50.00£100,000.00
Pacific Private BankEUR, USD€50.00€100,000.00
VisaEUR, USD, RUB2.99%€0.50€1.00€2,000.00€5,000.00€10,000.00€15,000.00€180,000.00
MasterCardEUR, USD, RUB2.99%€0.50€1.00€2,000.00€5,000.00€10,000.00€15,000.00€180,000.00
MaestroEUR, USD, RUB2.99%€0.50€1.00€2,000.00€5,000.00€10,000.00€15,000.00€180,000.00

SpectroCoin Withdrawal Fees and Spectrocoin Withdrawal Limits

MethodAvailable currenciesFeeMin feeMin withdrawal amountMax withdrawal amountDaily limit
SkrillEUR, USD, GBP2.00%€3.00€3.00€3,000.00€6,000.00
PayeerEUR, USD2.00%€1.00€5.00€2,000.00€4,000.00
Perfect MoneyEUR, USD2.00%€1.00€6.00€1,500.00€3,000.00
AdvcashEUR, USD, GBP, RUBFreeFree€1.00€2,000.00€6,000.00
Bank TransferEURFreeFree€5.00€100,000.00
Local Bank TransferGBP0.10%£2.50£5.00£100,000.00
International Bank WireGBP0.10%£20.00£50.00£100,000.00
Pacific Private BankEUR, USD0.1%€75.00€50.00€100,000.00
Amazon Gift CardEUR2.00%€0.00€10.00€1,000.00
Mobile top-upsLocal currencies15.00% (Digicel and Tigo mobile top-ups is 10%)€0.00€500.00

Is SpectroCoin Safe?

The fintech is licensed in Estonia, complying with laws and regulations of EU. SpectroCoin has been around for over 8 years, serving over 1 million customers globally. The platform stores 99% of currencies in cold wallets to ensure their security. Besides, its is secured with 2-factor authentication and data encryption to ensure the security of your information.

SpectroCoin Reviews

As of writing, there were over 1400 SpectroCoin reviews on Trustpilot. It has received 4.4/5 star rating. While 83% of users said SpectroCoin services were excellent, 9% of SpectroCoin users said the services were bad. Commons issues from dissatisfied users include inability to withdraw funds, long on-boarding process, constantly changing rules, and blocked accounts.

SpectroCoin Alternatives

SpectroCoin competitors you can look into include the following.