Patex Exchange Review: as a crypto-hinged digital assets broker in Argentina, C-Patex is one of South America’s best crypto exchanges.
In this company, the top concern involves exchanges that are adaptable to computer systems. So, you can change your fiat, nominally Argentine Pesos, to the supported cryptocurrencies on Patex Exchange. But that is not all.
You enjoy a tamper-free account from C-Patex, using the Double Factor Authentication (2FA). It is better than the stressful verification that requires a backup PDF utility attaché to enable withdrawals.
Moreover, the company remits to the Argentine federal tax agency, with the ID CUIT 30-71641341-8. It also has a registered trademark with the appropriate agencies. But it lacks a United States license, despite being a money transfer service.
This Patex Exchange Review explains some pros and cons of trading with C-Patex. It concludes with a section about the reliability of the company. Read on below for more details.
Table of Contents
Patex Exchange Review: Overview
On its website, C-Patex, Crypto Patagonia Exchange, filially refers to its start as a part of MAG Sistemas. By 2019, the exchange could broker stand-alone services, separate from Mag Sistemas, operating henceforth as a taxable venture. Currently, C-Patex is an exchange niche of the broader Cripto Patagonia S.A.
As our Patex Exchange Review finds, Cripto Patagonia is headed by Miguel Angel. His career traverses the thirty (30) years of tech solutions for wool interests, teaching, and digitalizing electoral supervision. These services culminate in MAG Sistemas.
Having run production, stock, and quality design for a Chinese wool interest, Miguel then offers to host services and apps for digital businesses. One of these is the Chubut Lottery (Loteria Del Chubut) website.
Unlike the anonymous exchanges stealing in on Defi traders, Miguel’s Patex Exchange is reachable through the links on the website.
Moreover, the company offers PATS, C-Patex Shares, trading some 50,000 of it for the year ended in 2017. It enables withdrawals by sending cash-out codes (2FA) to customers via SMS. However, traders in Argentine Pesos will have to provide supporting documents.
Additionally, our Patex Exchange Review does not find credit card options on the website. Instead, the company trades many cryptocurrencies like BTC, ETH, Dodge, and LTC. It pegs transaction fees to 0.20% and rewards 4.5% to Market Makers.
The following section of this Patex Exchange Review briefly explains the downsides and pros of trading with C-Patex.
Pros & Cons
Although it is only a new crypto pro in Argentina, the exchange has many positive reviews online. The apparent edge C-Patex has is the ARS fiat deposit, allowing newbies to learn the ropes quickly. The C-Patex trade fee is also another commendable feature of the platform.
Also, the company offers a Cold Storage option as a check against the hack. Most of the company services clump on the above points, as our Patex Exchange Review finds. Below are the cons involved in using the C-Patex exchange.
There is a limited choice of fiat deposits for any transactions on Patex Exchange. For many international traders, trading in USDs and EURs is a booster. But such clients can only access the Argentine Pesos (ARG) option on the website.
There is no mobile app for C-Patex. If you use the broker, you will have to sign in to the website to trade any asset _ BTCs, ETH, etc.
As a beginner, you will have a difficult time trading on the platform. Tools seem a tad jammed into different trading caches. If you wish to enter the BTC section, you will have to sign in to it. Moreover, it gets awkward for the tetchy trader since it has downtimes in high bids.
Moreover, lending is not possible on the platform, contributing to few chances of P-2-P in-platform exchange. Since C-Patex does not have an Application Programming Interface (API), it does not delegate trades through affiliates.
To grasp its edge as a digital assets broker, our Patex Exchange Review provides the following details:
CC-Patex has a reliable 24/7 support system and a volume cap of 0.003740 BTC, trading roughly eighteen (18) cryptocurrencies for over 20 pair-offs. Some of the currencies are:
Should you invest with this platform or not? See the following section before you decide on an option.
Unlike the foreign exchange market, exchanges via crypto do not always have a regulation. In most cases, the only token of insurance is your inscrutable BTC address. If it winds down to regulating the broker, C-Patex has yet to acquire US licenses.
A US money transmitter license ensures that brokers’ payment instruments are sustainable by requesting capital deposits and prior $25000-$1000000 remits. Impliedly, the license can vouch for safe non-bank financial transactions.
Like we mentioned previously, our Patex Exchange Review finds no such license on C-Patex. At least, this could dampen Patex’s resonating across North America. If you require proof of regulation from a broker, you will not give C-Patex’s tax ID a pass.