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Folgory Exchange Review

The crypto market is a very lucrative one, but you first have to find the right crypto exchange to use. Among the new companies in Europe is Folgory, a tradename for the company HashFort OU based in Estonia. Before signing up, though, it would be wise to learn more about the company, its history, and services so that you make the right decision. 


Company background

One of the most important things to know about a company, especially one that deals with money, is its background. The first thing you’re going to learn about Folgory is that it is a tradename for HashFort. That is not unusual since many companies do this to attain a favorable brand. On the Folgory website, you will learn that the company has a license under Company Registry 14648319 to offer crypto services in Estonia. The company also has a European license number FVR000672 / FVR000579 since the company is found in the EU.

Update: Seams like they have gotten their license revoked source

Folgory has been around for only a short while since it was launched in May 2019. Nevertheless, the exchange has already risen in ranks to become 16th among 24-hour trading volume according to CoinMarketCap at the time of publishing to record over $1 billion in value. This goes to show that the company is trusted by many people around the world and that proves you should too.

Assets available

On the Folgory exchange, you will find most of the popular coins to trade, which can be traded either against other crypto pairs or against fiat currency. Some of the top crypto exchanges do not offer crypto-fiat pairs, and this places Folgory ahead of some of its competitors. Moreover, Folgory also offers EUR fiat pairs as it is based in Europe, making it favorable for European traders. Regarding the number of assets and pairs, there are over 50 crypto and fiat pairs, enough to satiate any trader. 

Launchpad IEO

Many of you may already be familiar with IEOs, which are Initial Exchange Offerings. These are similar to IPOs and ICOs except that the tokens are issued by a crypto exchange. IEOs have become very popular lately, with many exchanges like Binance issuing native tokens to be used on the exchange. Folgory too offers its own token called Folgory Coin (FLG) that shall be used within the Folgory ecosystem to pay for trading fees and receive rewards. The IEO started in November 02, 2019, and is expected to end on January 31, 2020. Holders of the token will be rewarded on a sliding scale starting from the first at 1.5% for holding FLg for 1 month up to 3% for holding FLG for 12 months.

Besides FLG, Launchpad is a feature by Folgorry that allows other exchanges to launch their own IEOs. There are already a few ongoing IEOs on this feature by Folgory, with more to come in the future. The feature is a welcome addition to this company’s services as it shall allow traders to find even more opportunities to invest in without leaving the Folgory ecosystem. 

There is also an investment feature where an individual can invest their Bitcoin and receive up to 5% returns every month. Through a variety of investment plans, one can choose the best option for them based on their risk appetite.