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The review of SIGEN.pro, a trading platform that operates without fees and KYC

Despite the active development of the crypto industry, the digital assets market is still almost missing the platforms that offer tools for free trading of coins. In most cases, all transactions are subject to fees and commissions. For instance, the fees at centralized exchanges reach 0.1 – 0.2 %, decentralized exchanges charge 0.3% while the exchangers’ fees can reach 1-3%.

Moreover, a lot of platforms require following the mandatory KYC (know your customer) procedures for verifications that assume personal data and ID photo transfer to the project representatives.

The project SIGEN.pro is a pleasant exception to the rule. The developers of the trading platform dropped a row of commissions. Among other things, it is possible to conduct the following operation on SIGEN.pro for free:

  • Exchange assets on the P2P platform of the project;
  • Conduct trading transactions on the SIGEN.pro exchange;
  • Deposit and withdraw cryptocurrencies. In this case, the transaction can be subject to the fee charged by the network of the digital asset. 

Also, SIGEN.pro compares favourably with its competitors with its wide functionally and user-friendly interface. Another benefit of no little interest in the platforms is a total absence of verifying KYC procedures.

In this review, we explore how SIGEN.pro representatives succeeded in dropping the fees, saving the anonymity of the users, as well as other properties of the project.

What SIGEN.pro consists of

The company SIGEN.pro is officially registered in Belize (SIGEN IT DEVELOPMENT LLC.). The project is a trading platform focused on cryptocurrencies that includes:

  • Multicurrency crypto wallet
  • Crypto exchange
  • P2P platform
  • Exchanges

The name of the project consists of two parts that illustrate its vision:

  • SIGma (Σ) – a greek symbol that represents science;
  • And the first two letters of the English word ENergy. 

The project was launched in 2015. At first, SIGEN.pro was a classic P2P platform, an analogue to LocalBitcoins that differentiated itself with low commissions. In 3 years, the developers rolled out the crypto exchange. And in 2019, the SIGEN.pro was completed by the exchanger that allowed users to buy and sell cryptocurrencies automatically without a need for registration procedures.

The company aims to create a truly people’ project without fees that will be available to anyone. At the moment of writing, it can be already said that the project developers have already achieved their goals since they have already dropped fees, KYC procedure and other barriers.

At the moment, the company’s representatives position SIGEN.pro as a platform that is focused on cryptocurrencies that support staking. One of the main goals of the project is to make easy and highly profitable tools accessible to anyone. Staking is in line with the developers’ goals. That is why the company placed a bet on cryptocurrencies that support that way of earning.

How could SIGEN.pro succeed in dropping fees and KYC

The SIGEN.pro developers succeeded in breaking the stereotype that commissions are the main source of income for trading platforms. The project team proved that in 2021 there are indeed alternative business models.

The main profit source of the SIGEN.pro is cryptocurrency mining which helps developers to drop commissions and fees. As a result, SIGEN.pro became a trading platform with one of the most favourable terms.

It was possible to avoid KYC procedures due to the focus on working with digital assets. The platform doesn’t support fiat currencies. Also, SIGEN.pro has no accounts in traditional currencies. The platform users can transact with fiat only on the P2P exchange. The availability of the functionality did not make the KYC legally necessary as the company has no access to traditional fiat currencies of clients. At the same time, clients still have full access to the tools to work with fiat. For example, SIGEN.pro users can pay for deals in various ways, including cash and bank transfers. 

A glance at the SIGEN.pro functionality

The project SIGEN.pro consists of several products. We invite you to have a glance at each of them.

Wallet

The SIGEN.pro users can use a custodian wallet. Assets and private keys of the users are stored by the trading platform. A similar approach is being used by most centralized cryptocurrency exchanges like Binance or Coinbase.

The SIGEN.pro developers emphasize that the users’ cryptocurrencies are well-secured. To guarantee a high level of safety, the project team operates in compliance with global standards. The platform representatives regularly enhance the safety systems by implementing the best practices.

The majority of SIGEN.pro users’ assets is stored on cold wallets. Cold storage allows to secure cryptocurrencies from safety system outbreaks due to the absence of constant connection to the network, and therefore access to the coins. 

Also, project representatives are specifically focused on choosing cryptocurrencies. To recall, the SIGEN.pro team lays emphasis on coins that support staking. Also, the developers choose for listing the coins that they find promising. As of this review writing, it is possible to transact on SIGEN.pro with the following cryptocurrencies:

  • Bitcoin (BTC).
  • Ethereum (ETH).
  • Litecoin (LTC). 
  • Binance Coin (BNB). 
  • Umi (UMI). 
  • Ton Crystal (TON).
  • Minter Network (BIP).
  • Wrapped Bitcoin (WBTC).

The list of the available digital assets is constantly widening.

In the SIGEN.pro wallet, there are no commissions for sending or receiving cryptocurrencies. Users just pay the network fees of the digital assets (network fees are distributed among miners and validators that process the transactions).

The absence of fees on the operations with cryptocurrencies in the wallet is one of the key advantages of the SIGEN.pro platforms. Other popular platforms may charge commissions for transactions on big sums. For example, the withdrawal of bitcoins on Binance may cost a user a couple of dozens of dollars.

At SIGEN.pro platform, there is also a system for charging back network commission for BTC transactions. The platform freezes quite a significant sum for network fee payment. Later, the system returns the unused amount to the user balance. The developers plan to use the same mechanisms for other cryptocurrencies as well.

Cryptocurrency exchange SIGEN.pro

The platform differentiates itself with a simple and user-friendly interface.

The SIGEN.pro crypto exchange has all necessary for the trading services: from the graphs with tools for technical analysis to windows to place orders and choose trading pairs.

The trading platform supports operations with two of the most popular types of orders: 

  • Market order – it allows instant buying and selling for the market price
  • Limit order – it allows conducting deals at a certain predefined price

P2P platforms SIGEN.pro

The P2P platform SIGEN.pro allows buying and selling cryptocurrencies for traditional fiat currencies directly from other users without middlemen. The service includes the functionality to create your own offers. Also, the P2P platform presents the opportunity to choose among already available buy and sell orders.

The functionality available for creating Buy and Sell offers is available in the top right corner. Below there is a place to choose coins, statistics and instruments for filtering the orders.

Interesting! On the SIGEN.pro P2P platforms it is possible to conduct transactions with all the currencies of the world.

The safety of the exchange operations on the P2P platform is ensured by the ESCROW system and user rating. When parties agree to proceed with a deal, the platform freezes the seller’s assets. The next steps are the following:

  • The buyer transfer the money
  • The seller confirms the receipt

Only after that the funds will be unfrozen and transferred to the buyer. This system provides safety for both parties. This is how it functions:

  • The freeze guarantees that the seller has enough resources to conduct the deals. The buyer gets a guarantee that he will get what he is paying for.
  • At the same time, the seller is also on the safe side because the system asks for his confirmation of the receipt of the funds transferred by the buyer.

 

In case of disputes, the parties can move to solve them in arbitrage. In this case, the SIGEN.pro representatives will be involved. They will ask for evidence and judge to present a fair verdict.

Exchanger SIGEN.pro 

The exchanger is another platform offering that helps to easily and safely exchange cryptocurrencies. Even unregistered users can use the benefits of the exchanger SIGEN.pro and conduct transactions. Here is how an exchange is conducted:

  1. User choose the terms of the exchange;
  2. The system asks to fill in necessary details;
  3. The system transfers the defined sum to the specified address. 

 

 

The exchange will have the status “closed” when the transaction will be validated on the cryptocurrency blockchain.

The exchange is performed on the basis of market orders. It means that the platform exchanges at current market rates.

Cryptocurrencies mining and other SIGEN.pro peculiarities 

Another advantage of the SIGEN.pro platforms is the availability of the functionality to earn on mining cryptocurrencies. To launch this project, the developers partnered with cryptocurrency pools.

For example, thanks to one of such partnerships, users can get profit from staking the high-tech currency UMI. To start, a user needs to create a wallet for the coin, then register at the ROY Club or ISP Club (official UMI staking pools).

Also, SIGEN.pro differentiates itself with the particular attention of its developers to organizing users’ safety on the platform. For that, the platform integrated a whole range of tools, including:

  • Two-factor authentication;
  • Protection against unauthorized access. The system limits access to the account from unusual IP addresses and devices.

An additional safety measure is the verification by email. When a user withdraws cryptocurrencies, a system asks to verify the operation by email.

What SIGEN.pro user think about the platform

Users of the platform point out the absence of fees and lack of mandatory KYC procedures. Also, users specify a high level of security and fast operational speed.

Among negative reviews, most complaints gravitate toward the low variety of cryptocurrencies. This is connected to the project policy. As we recall, the platform is focused on high-tech coins that support staking and promising cryptocurrencies. The developers refuse to list coins in which they do not believe, even for very big sums of money.

Plans for the future

The SIGEN.pro team plans to continue with the development of the project as a platform for profitable staking. In future, developers plan to widen the list of available cryptocurrencies and continue working on new instruments.

To sum up, SIGEN.pro succeeded in creating a true peoples’ cryptocurrency platform where anyone can get acquainted with new financial instruments and start earning with modern technologies.

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