Eclipcoin

The capitalization of the cryptocurrency market is growing every day. Therefore, more and more services and cryptocurrency exchanges are appearing. We compare different cryptocurrency wallets and other projects, analyzing their advantages and disadvantages. Today, we wanted to tell you about Eclipcoin cryptocurrency wallet. 

Eclipcoin is a multifunctional wallet service for exchanging, storing, buying, and selling Bitcoin and other cryptocurrencies. The cryptocurrency platform has been operating since 2020. The management company Eclipcoin Technology OÜ is registered in Estonia in accordance with the legislation of the European Union. The regulator of the platform is the Estonian Financial Intelligence Unit (FIU) with license number FVT000388. 

Eclipcoin is known among users in Europe, Asia, CIS-countries. Many news publications and reputable magazines wrote about the activity of this cryptocurrency platform, including IBM Community, London Post, and others. 

Now let’s move on to describing and comparing the features of this cryptocurrency wallet.  

Eclipcoin Functionality 

Eclipcoin has several key functions:

Buying and selling cryptocurrency for fiat money

Storing cryptocurrency in an integrated wallet

Cryptocurrency exchange

Cryptocurrency transactions between wallets

Cryptocurrency purchase via bank transfer

This functionality is enough for most cryptocurrency users. Presently, Eclipcoin provides an opportunity to buy, sell and exchange about 20 cryptocurrencies with the highest liquidity. Key coins include Bitcoin, Ripple, Dash, Ethereum, TRON, Litecoin, and others.

This service has been increasing the number of cryptocurrencies for exchange and investment since its inception. Initially, the service offered up to 10 cryptocurrencies. Over the last year, the number of coins available has doubled. The founders of the project claim that 102 more cryptocurrencies will be connected in the near future. 

Eclipcoin has its own secure cryptocurrency wallet where coins are stored. The wallet has several levels of protection. Users can set a transaction limit per day or over another period of time. This eliminates the possibility of attackers withdrawing all coins if unauthorized access to the user’s account is gained. 

The administration of Eclipcoin has no access to customer data, as it is in other major cryptocurrency projects like Binance, EXMO, and others. You can activate two-factor authorization and connect a pin code for access to coins. 

Note that Eclipcoin has a convenient exchange of cryptocurrency to fiat money. You can buy and sell cryptocurrencies from your wallet via VISA or MasterCard debit cards. Another advantage of Eclipcoin over other exchanges is the ability to buy cryptocurrency via bank transfer, in particular, the wallet provides SEPA and SWIFT transfers. 

We tested the process of buying and exchanging cryptocurrency via the Eclipcoin service. The transactions process are basic even for the customers who are new in this theme, they proceed very fast and without any delays. Also, the service system provides multiple signatures to confirm transactions. 

While testing the service, we compared the value of the cryptocurrency with the market quotes. In fact, the purchase price of Bitcoin and tokens fully corresponds to the market ones. This means that you are not overpaying for transactions in the Eclipcoin system.

Fees & Tariffs

Now let’s move on to an overview of the Eclipcoin cryptocurrency wallet plan and fees. This is essential for users because the competition among cryptocurrency wallets is growing. Users choose the service with the lowest fees.

We performed several transactions and studied the Eclipcoin tariff plan. The main types of transactions are priced as follows:

5% commission when buying cryptocurrency to your wallet (VISA and MasterCard debit cards)

0% commission for exchanging cryptocurrency into fiat money (VISA and MasterCard debit cards)

3% fee for the bank transfers (SEPA/SWIFT)

1.5% fee for cryptocurrency withdrawal (service and exchange processing fees)

0% fee for storing cryptocurrency on wallet.

These are very favorable conditions that allow you to carry out different transactions and not to overpay the commission.

And now let’s move on to the description of the registration and verification process. 

Registration & Verification

You need to create an account on the platform to purchase or exchange cryptocurrency. The registration system at Eclipcoin is basic. On the main page of the website, you need to the registration page and provide your contact information. Please, note that Eclipcoin has a privacy policy. User data is not transferred to third parties and is not used for commercial purposes. 

On the registration page, you need to enter your name, email address, phone number as well as your authorization password and payment password. After that, you can go to your personal cabinet and verify your profile. Verification is required to perform all transactions within the Eclipcoin system. You will not be able to exchange, buy or sell cryptocurrency without verification.

Verification has 3 levels. 

1 Level (maximum withdrawal amount up to $5000)

2 Level (maximum withdrawal amount up to $10000)

3 Level (maximum withdrawal amount up to $15000)

The maximum investment amount are equivalent to 100000$

*In equivalent to any currency EUR/USD/GBP/CAD

For each level of verification, Eclipcoin requests a different number of documents.

For the 1 Level, you need to provide your identity document from both sides (Passport, ID Card, Driving License) and complete liveness check.

For the 2 Level, you need to provide Proof of Address within the last 3 months. It can be: Utility Bill, Bank Statement, tax declaration, Rent agreement etc.

For the 3 Level, you need to provide Source of Funds or Source of Wealth, any document that can prove your income. 

This is common practice for regulated financial services to prevent any possibility of the fraud attempt that may happen.

We tested the verification speed. Our data was verified in about 5-10 minutes. However, the site indicates that it can take even less time.

Support Service

Eclipcoin has a 24/7 support service. You can contact the managers in several ways:

Email

Leaving a request online

We have tested the work of the support service. In the online chat, the operator answers in a few minutes. 

Conclusion

Eclipcoin is one of the most memorable cryptocurrency wallets. It was created in 2020, but in a short time, it has been able to increase its functionality and add new cryptocurrencies for exchange. This cryptocurrency platform is committed to increasing security for its customers. This is commendable. The wallets are tamper-proof, and the multi-level authorization system eliminates the error. 

We recommend Eclipcoin to those users who value a simple UX and UI, as well as advanced functionality with a high level of security. 

Advantages 

Availability of a confirmed regulator from the European Union

Low transaction fees

No commission for buying cryptocurrency

A simple registration and verification system

Secure cryptocurrency wallet with a two-factor authorization

A lot of payment methods

No fees for storing crypto

Disadvantages

No mobile wallet version

Limited choice of cryptocurrencies for buying and exchanging”