Bakkt

Bakkt Review: Is Bakkt any good?

Overview and general information

Founded in 2018 by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), Bakkt is a digital asset trading and custody platform designed to serve both institutional and business investors with a focus on security and compliance. Bakkt offers cryptocurrency trading, institutional-grade digital asset custody, and solutions for businesses looking to integrate crypto into their operations. With a license from the New York State Department of Financial Services (NYDFS) and stringent security standards, Bakkt is one of the most trusted platforms in the global digital asset market.

Is Bakkt safe?

Safety measures

Bakkt uses advanced security technologies such as two-factor authentication (2FA) and cold storage of digital assets, which reduces the risk of cyberattacks. It also has the SAFU Fund in place to protect users from potential incidents.

Licenses and Certifications

If you ask whether Bakkt is good, you have to start by considering the license factor first, which has the following licenses:

• New York State Department of Financial Services (NYDFS)

  • Bakkt Trust is licensed by the NYDFS to provide institutional-grade digital asset custody and storage services.

• CFTC (Commodity Futures Trading Commission)

  • The company is registered with the CFTC to provide futures market services and settlements in digital assets such as Bitcoin Futures.

• Internal Safety and Compliance Audit Unit

  • The Company has a risk management and control team that monitors and reports to the Board of Directors to ensure that operations are in accordance with the established standards.

Products and services

Products and services

• Cryptocurrency Trading:Trading digital assets such as Bitcoin and Ethereum

• Digital Asset Custody:Bakkt Trust Company LLC is a digital asset custodian certified by the New York State Department of Financial Services (NYDFS).

• Bakkt Card:A debit card connected to Google Pay allows users to spend digital assets on a daily basis.
   

Supported trading platforms

• BakktX:A trading platform designed to meet the needs of financial institutions, with high efficiency and low cost.

• Bakkt App:An application that allows users to easily manage and use digital assets in their daily lives.

Bakkt Review: Fees

Crypto Trading Fees

• Orders $0.01 - $10.00 Fee $0.49

• Orders $10.01 - $25.00 Fee $0.69

• Orders $25.01 - $50.00 Fee $1.19

• Orders $50.01 - $100.00 Fee $1.69

• Orders $100.01 - $250.00 Fee $3.29

• Orders $250.01 - $500.00 Fee $6.29

• Orders over $500.01 are subject to a 1.25% fee of the order value.

Recurring investment plans will have a minimum fee rate of 1.25% of the order value.

Account opening and usage fees

• Account opening fee:$0

• Monthly Fee:$0

• Inactivity fee:$0

• Deposit from bank account:No fees

• Withdrawal to bank account:No fees

Please note that these fees are subject to change according to Bakkt's policies. Please check the official website for the latest information for accuracy and updates.

Deposit-Withdrawal Channels

Deposit channels

• Bank Transfers (ACH Transfers):Users can link their bank account to their Bakkt account to make Automated Clearing House (ACH) transfers, a secure and fee-free way to deposit funds.

• Cryptocurrency Deposits:Bakkt supports the deposit of digital assets such as Bitcoin (BTC) and Ethereum (ETH), and users can transfer crypto from external digital wallets to their Bakkt accounts.

Withdrawal channels

• Withdrawals to a Bank Account (ACH Transfers):Users can withdraw funds from their Bakkt account back to their linked bank account via ACH with no withdrawal fees.

• Cryptocurrency Withdrawals:Bakkt allows users to withdraw digital assets to external digital wallets, with security verification steps to prevent unauthorized transactions.

Bakkt Review: Pros and Cons

Pros

• Strong security system

• Support for major coins and flexible wallet services

• Strict compliance with the law

Cons

• Supported coins and trading pairs are less than other platforms.

• There is no platform-specific token

Support and Customer Service

• Email:help@bakkt.com

• Website channel: https://bakkt.com/contact

Bakkt Review Overview Summary

Bakkt is a digital asset trading and management platform founded in 2018 by Intercontinental Exchange (ICE). Bakkt is known for its security, regulatory compliance, and transparency. With a comprehensive range of products, including Bitcoin futures, crypto trading, institutional custody, and the Bakkt Card, users can spend crypto in their everyday lives. Bakkt also offers a transparent fee structure and convenient deposit and withdrawal options via bank account linking and crypto transfers. Licensed by leading authorities such as the NYDFS, Bakkt is a trusted platform for investors and those looking to integrate digital assets into their daily lives.