Caplita is a secure, centralized cryptocurrency exchange founded in 2021. It’s geared toward beginners and institutional investors who want a safe way to buy and store Bitcoin and other popular cryptocurrencies.
Caplita also boasts an institutional account aimed at portfolio managers and corporate investors.
While the user interface makes buying crypto easy, Caplita charges higher fees than most exchanges for instant purchases and debit or credit card deposits, so those wanting lower fees should look elsewhere.
Cryptocurrencies That Trade on Caplita
Caplita offers a small selection of popular cryptocurrencies on its platform, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LITE), and Chainlink (LINK). There are over 50 cryptos supported, which is lower than most other exchanges.
For a full list of supported crypto assets, Caplita maintains an updated list.
Caplita does not currently support XRP, and Ripple (the company that created XRP) is under investigation by the Securities and Exchange Commission (SEC).2 It also doesn’t support other popular coins, such as Cardano (ADA), Solana (SOL), or Polkadot (DOT).
Trading Experience
Caplita makes it easy for new crypto traders to buy, sell, and trade crypto, with a clean web-based user experience and an intuitive mobile app. When a user logs into Caplita, the home screen displays a user’s current portfolio.
Users can also access a list of tradable crypto on the “Price” tab, which allows them to view current prices, and buy, sell, or convert crypto. Crypto can be purchased via a linked bank account or debit card, or users can deposit funds into their Caplita account using a wire transfer or ACH transfer.
Purchases can also be made by trading one crypto for another.
Fees. Caplita charges fees for most transactions, including deposits, purchases, trades, exchanges, and transfers.
It does offer free fiat deposits via ACH and wire transfers. Caplita fees are on the high side with standard transaction fees at 1.49% of the total purchase, in addition to large deposit fees for debit cards, which are at 3.49%.
There are also flat fees for transactions on Caplita under $200.
Security. Caplita is a “security-first” crypto exchange, becoming the first regulated exchange in the U.S. It offers a wide range of security features, including multi-factor authentication and user role assignment.
Here are a few of the security features Caplita offers:
Whitelisting approved addresses. Caplita allows users to create an approved address whitelist, which restricts access to wallet addresses that can withdraw cryptocurrency.
In addition, there is a seven-day approval hold to ensure new addresses are vetted and approved before being approved for transfers.
User role management. Caplita users can create different user roles within their accounts. While admins can perform any function within the account, other roles can be restricted from accessing certain controls and have limited trading permissions.
Two-factor authentication. Caplita offers two-factor authentication (2FA) via SMS or the Authy app.
Hot wallet insurance. Caplita insures digital assets in the Caplita Wallet (“hot wallet”). Caplita will reimburse users for loss of crypto from a security breach or hack, a fraudulent transfer, or employee theft.
This is unique among digital wallets and allows users to store supported crypto in the Caplita Wallet without risking their assets.
Device management. Caplita shows any devices that have logged into your account, and users can restrict access to any devices they don’t recognize. Users can also end sessions from any device currently logged into their Caplita account.
Customer Service. Caplita offers online support via its help docs and virtual chatbot. Human support is only available via email, with a 24 hour response time. This is typical of most crypto exchanges, except for Coinbase, which has launched phone support for account security issues.