Satang, previously known as Thai Digital Asset Exchange (TDAX), is a Thailand-based cryptocurrency exchange that offers users crypto to Thai Baht (THB) trading services on a secure and insurance-backed exchange. It was developed to address the rising trading needs of the professional and retail market in Southeast Asian countries and beyond.
CEO and founder Poramin Insom launched the platform in November 2017. Insom has a strong technical background from his previous working experience at Microsoft and Accenture. In this review, you’ll learn what makes this platform stand out from the competition and whether it’s worth using for your trading services or not.
- Thailand's largest and most trusted cryptocurrency exchange.
- Trade over 45 cryptocurrencies with low fees starting at 0.2% per transaction.
- Trade 24/7 on any devices including Web, iOS, Android Google Play & more.
Satang doesn't offer many features on its platform as it's still considered a relatively new cryptocurrency exchange. Although it may lack in diversity of features, it does offer high security and low fees. Below you can find a detailed breakdown of the supported features on the Satang exchange:
- Satang Pro: Satang Pro is the trading platform that allows investors to limit buy cryptocurrencies with Thai Baht. Satang has 45 cryptocurrencies on its platform including Bitcoin, Ethereum, Tether and Tron.
- Satang Shop: This feature will allow users to utilize the platform’s frictionless digital asset payment system to buy and sell without stress and within seconds. Customers can use the Satang shop to pay for utilities, ride public transport, shop online, or refill gift cards with digital currencies. However, as of press time, the feature is still in the pipeline and has not been launched yet.
- Satang Nodes: The Nodes feature is another value-rich one from Satang, ensuring stressless staking and validator/master node service. It supports digital assets like Zcoin and Bitcoin, and you can create a node in quick and easy steps.
- Satang Vault: The Satang Vault is considered a fortification for digital assets where “military-grade security” is employed to keep assets safe from external interference. It is built to exclusively service corporate clients and institutional investors.
Satang Pro provides a competitive flat fee of 0.2% for all trades, which is lower than the typical industry standard of 0.5%. High-volume traders with a monthly trading volume of around 320M THB can benefit from substantial fee reductions, paying as little as 0.12% per transaction.
Deposit fees differ based on the chosen deposit method. For Promptpay and Wire Transfer, fees range from 20 to 50 THB. Satang's withdrawal fees are relatively low and are determined by the specific asset rather than trading volume or withdrawal amount. For instance, withdrawing Bitcoin incurs a fee of 0.0004 BTC, which is competitive compared to other cryptocurrency platforms.
Satang Pro has a mobile app with top features like buying and selling cryptocurrencies or checking your portfolio. The app is supported on both Android and iOS devices. It also supports Promptpay systems with QR codes built-in for payment. You can use your stored cryptos for daily transactions and investments in Thailand.
Is Satang Safe?
Satang Pro is considered safe for users and is Thailands only high-security exchange. It applies AML, 2FA (two-factor authentication), and KYC principles to keep user funds and data secure. It prides itself as the only regulated digital asset exchange in Thailand with international ISO 27001 Standard Security Certificate.
To be awarded this certification, the exchange must undergo an SCI Qual International security audit which ensures that information security management systems are secure, eliminating unauthorised access, modification or use for malicious intent.
Customer Support & Online communities
Satang has adequate customer support in English and Thai and unfortunately do not offer a live chat feature. Users can receive technical support by email and leave a request via an online ticketing system. Satang’s Bangkok office has a phone number local customers can call.
If you would like immediate assistance from their support team, you can reach them via one of their online communities on multiple platforms including - Telegram, Youtube, Twitter, Facebook, and Instagram.
In conclusion, Satang, formerly known as TDAX, is a Thailand-based cryptocurrency exchange that offers secure and insurance-backed trading services, primarily focusing on crypto-to-Thai Baht transactions. Despite being relatively new and lacking in feature diversity, Satang stands out for its high security, low fees, and mobile app support. While some features are still in development, the platform boasts a range of promising offerings such as Satang Pro, Satang Shop, Satang Nodes, and Satang Vault.
Committed to user security, Satang Pro follows AML, 2FA, and KYC principles and has been awarded the ISO 27001 Standard Security Certificate. Though customer support is limited to English and Thai languages without live chat, users can access help through multiple online communities. Overall, Satang offers a competitive and secure option for cryptocurrency traders in Thailand and Southeast Asia.