Cryptofon is an Estonian based cryptocurrency exchange that was established only this year. It has quickly garnered international interest due to its global approach towards making crypto accessible to all. Moreover, it offers some nifty advantages that even the largest crypto exchanges fail to provide..

With a vision to “increase the freedom of money globally [and] significantly improve lives around the world”, Cryptofon ensures that it provides services that are easy to understand while still retaining the accessibility that complex platforms offer.

While cryptocurrencies and different platforms are still battling regulatory authorities, Cryptofon decided to launch its services from one of the most crypto-friendly nations. This essentially enables Cryptofon to continue its services without any hitch. The fact of the matter is that different jurisdictions have different interpretations of the digital assets and Cryptofon’s decision to not only register with the local authorities but ensure complete compliance gives a level of surety and consumer rights that is unparalleled.

We sat with the CEO of Cryptofon and attempted to understand how the crypto exchange enables financial freedom to all.

Tell us a bit about how you came about the decision to launch Cryptofon.

I have been together with Mr. İbrahim Kalem for a long time. He makes cryptocurrency purchases from time to time and achieves certain profits from the transactions. However, we have seen that cryptocurrency exchange platforms do not always provide the right service in this sector and that there are constant complaints. Therefore, we decided to open a new platform, thinking that a platform that provides the right service in the sector can be beneficial for everyone.

Your platform declares one can “buy & sell crypto in minutes”. Does that include time taken for KYC procedures and how do you cut down on it to verify new users?

Our clients can easily register, but of course, they must follow the KYC procedure to trade cryptocurrencies and to remove the set limits and restrictions. They can perform the KYC procedure in a few minutes when they click on the Unverify section on the APP from the Profile section. The review is done very quickly and we work together with service providers to make this happen. The KYC process is completed in about 15-20 minutes. I think that is a fair duration for such an essential process.

We have looked at the trading interface and it seems very straightforward and easy to operate, but what if there is someone totally new to the crypto world? Do you have any guides or training programs to ensure they don’t lose their investments?

For this, we created a page called Cryptofon Academy. It is not completed yet, but we will provide information on almost everything on this page. Additionally, we will do our best so that people can use crypto money and the platform in the most correct way. Our aim is to provide our customers with the necessary details on how to make purchases and protect their assets in the fastest and simplest way, both with video narrations and written explanations.

As a registered and compliant exchange, what sort of consumer rights do you guarantee?

We guarantee that we will offer our users and registered customers the best security infrastructure, a fast, easy and understandable platform, and that customer satisfaction will be our first priority. At the same time, we aim to provide a successful service by establishing a global compliance team and conducting surveys on how we can improve the platform for our customers' satisfaction.

Speaking of compliance, UK’s FCA is coming down pretty hard on different investment and trading platforms. As a globally accessible crypto exchange, how is Cryptofon ensuring it will be able to serve its UK based users?

In this regard, our legal department will carry out the necessary studies and work together with the compliance department and the KYC department in a way that will fulfill the legal conditions not only in England but also in different countries. We carefully follow the decisions that the UK will make in the sector, and all the decisions that Turkey and even Europe will take. I believe that we will carry out studies that will protect both our users and our company in the best way.

For a recently launched exchange, Cryptofon has a healthy number of trading pairs. But there are only BTC and USDT base currencies. If a user has no cryptocurrency to begin with, is there an option to purchase through fiat?

The licensing process is important to us, when our licensing process is completed, we will allow the purchase of cryptocurrencies with fiat currencies. At the same time, we will support Credit Cards thanks to the bilateral agreement we have made with Simplex.

What fiat payment options does Cryptofon support at the moment and are there any plans to enhance it?

Currently, we do not allow purchases in fiat currencies. However, we are negotiating with the banks in Turkey about making purchases in Turkish Lira. Moreover, we will meet with some service providers and start working on receiving payments via SEPA and SWIFT systems.

Your platform talks about “professional security and multiple defenses to protect your assets”. What security systems do you deploy?

Our platform uses high-level security methods. Apart from HSM, LTM, LTE and Firewall, it also uses various security setups such as highly advanced VPN and registered IP access on the architectural security side. We also have different security procedures for withdrawals and deposits to protect our customers' assets.

Tell us about the NFT marketplace and how it is empowering different creators?

NFT studies are spreading and developing. As such, we plan to create a special section for this market and enable our users to benefit from NFT services, but this is a project that we will implement in the second quarter of 2022.

Any upcoming services or features that Cryptofon users should be excited about?

They will be able to easily transfer crypto with portable accessories and various tools, which is a world’s first. We will offer our users very important tools with groundbreaking ideas and technologies for crypto money transfers and exchanging. They will receive services with important tools that they can use in the digital and physical environment. We advise them to follow our news and social channels for the latest updates.