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Morpher Review: Can you trust this Crypto Exchange?
Founded in 2018 in Palo Alto by Martin Froehler and Denis Bykov, Morpher is a trading platform built on the blockchain, with a disruptive approach to trading that sets it apart from most established players in the industry.
On Morpher, users can trade stocks, cryptocurrencies and forex 24/7 with maximum security and execution speed. The platform is unique in that it uses a tokenized system for buying and selling assets, rather than using traditional fiat currency. The Morpher token (MPH) is the native currency of the platform and is used as the medium of exchange for buying and selling assets. Users bet Morpher’s MPH token on a market such as Apple and earn or lose MPH proportionally to the price change of the market.
Staking is another way for users to earn income. It allows users to lock up Morpher’s MPH tokens for a minimum period of 30 days and earn 0.03% daily (11% yearly) interest.
What really sets Morpher apart, however, is the combination of zero fees, infinite liquidity, shorting, instant trade settlements and no counterparties. This offers traders complete freedom and flexibility in their trading decisions, which aligns with Morpher’s mission to democratize trading around the world through blockchain technology.
Morpher Exchange is Best For
- Futures traders (beginners and advanced)
- Crypto investors
- Passive investors interested in staking
- Traders looking for less restrictions
- Zero trading fees
- Infinite liquidity
- Non-custodial wallet
- 24/7 trading
- Great customer support
- High security
- Not available in the U.S.
- No live chat support
- Token price risk
Morpher vs Other Trading Platforms
In traditional financial markets, trades are typically facilitated by intermediaries, such as banks or brokers, who act as counterparties. The problem with this model is that intermediaries charge extra fees and the execution process is slower because of all the steps involved.
Morpher offers a unique solution to this problem. The platform is built on the Ethereum blockchain and utilizes smart contracts to facilitate trades, eliminating the need for intermediaries. Instead of relying on a counterparty to buy or sell assets, trades are placed directly into a smart contract protocol.
The Morpher protocol records the trader’s bet on the blockchain and automatically mints or burns MPH tokens for the trader based on the corresponding price development of the underlying market.
For example, if a trader bets 500 MPH tokens on Tesla stock (TSLA), and the value of TSLA increases by 20%, the trader will receive 600 MPH tokens. If the value decreases by 20%, the trader will receive 400 MPH tokens.
Important to note here is the fact that when trading on Morpher traders don’t actually don’t own the underlying asset. Instead, they are betting on a virtual copy of the real asset.
This innovative tokenized ecosystem allows Morpher to eliminate the need for intermediaries and allows for instant order execution. There is no finite order book, no slippage, and thus no liquidity constraints. Traders on Morpher effectively enjoy trading with infinite liquidity. Something unheard of on traditional trading platforms.
Morpher does not charge any fees for trading. This makes the platform an attractive option for active traders who want to maximize their profits.
However, it is important to mention that even though Morpher doesn’t charge any fees, there are deposit and withdrawal fees that are charged by the payment processors, banks and/or credit card issuers.
Gas fees are also something to be aware of when sending tokens from the sidechain to the mainchain. Gas fees on the Ethereum network constantly change depending on network demand so be sure to verify those costs.
How Does Morpher Earn Money?
As a reward for operating the protocol, Morpher receives a small portion of the total token supply in newly minted tokens on a daily basis. Specifically, the company receives 0.015% of the total token supply in newly minted tokens each day. Over the course of a year, this daily reward compounds to approximately 5.6%.
Based on this business model, it’s clear that Morpher’s interest is to increase the value of MPH which would not only benefit the business but its users as well.
Morpher Ease of Use
Quick and easy onboarding: The platform enables a quick onboarding process that allows users to sign up and start trading in less than 5 minutes. You automatically receive an airdrop of MPH after signing up so you can open your first trade without having to complete KYC or make a deposit.
Instant trade settlement: If you’re looking for a fast and cost-efficient trading experience, Morpher is an excellent place to begin. On Morpher, you don’t have to worry about slippage or market movement. No slippage means your orders will be executed at the current market price, without any delays or additional costs.
All trades are recorded on the Morpher sidechain, allowing users to easily verify the authenticity and correctness of their trades and ensure that they have been executed as intended.
Morpher Account Types
Morpher offers three account levels (aka – “tiers”):
You get a tier 1 account immediately after signing up. Users at this tier have unrestricted access to trading across all markets available on Morpher and a maximum account value limit of 1,000 MPH.
To advance to Tier 2, users must complete a quick Know Your Customer (KYC) verification process. The KYC process on Morpher is very fast and efficient.
Once completed, users will gain access to additional benefits such as referral bonuses and the ability to deposit funds. Additionally, there will no longer be any limits on the account balance.
Achieving Tier 3 on Morpher is a straightforward process for Tier 2 users. All that is required is depositing at least $10 worth of MPH in the account.
This will unlock withdrawal rights, and enable users to benefit from staking with an annual percentage yield of 11% APY. At this point, users have complete control over their account.
Morpher Deposits and Withdrawals
On Morpher, you have the option to deposit both fiat currency or cryptocurrency.
Fiat deposits can be done through Advcash and Paypal and the fees range between 3% to 5%.
Crypto deposits can be done on three different blockchains. This includes Polygon, BNB Smartchain, and Ethereum. There are zero fees and automatic conversions for funding with BNB, MATIC, or USDT. The process of depositing is simple and seamless, as you just need to send crypto directly to a unique wallet address and your funds will be available for trading immediately.
Morpher has made significant improvements to its withdrawal process in 2022 to make it faster and cheaper. Users can withdraw their funds directly to their personal Polygon or Ethereum wallet addresses. Withdrawing on the Polygon blockchain incurs a flat fee of 100 MPH, while on Ethereum, the fees vary according to the gas fees.
An important thing to keep in mind when using Morpher is that it operates using its own native cryptocurrency, MPH, as opposed to traditional fiat currency. When depositing funds, they will be converted to MPH at the current exchange rate. Since the value of MPH fluctuates, this will impact the overall value of your account balance in terms of traditional fiat currencies such as EUR or USD.
Morpher Customer Support
Morpher provides several ways for users to get help when needed:
Online Help Center: Morpher has a comprehensive online help center that includes articles, tutorials, and FAQs on a variety of topics related to using the platform.
Email support: Users can also contact Morpher’s customer support team via email. Simply send an email to [email protected] with your question or issue, and a representative will get back to you as soon as possible, usually within 24 hours during weekdays.
Social media: Morpher has a presence on social media platforms such as Twitter, Discord and Linkedin, where users can ask questions and get help from the community.
Customer service is not currently available via phone or live chat. In the future, we’d love to see Morpher implement more customer service options for users who require more immediate assistance.
Is Morpher a Safe Cryptocurrency Exchange?
Morpher has a solid track record of security, with no reported incidents of hacking or loss of funds.
One of the key features that contribute to Morpher’s security is its non-custodial wallet that gets created automatically when signing up with the platform. A non-custodial wallet is a type of digital wallet where the user holds the private keys, which are used to access the funds.
This means that the user has full control over their funds and no third party has access to the private keys (not even Morpher). This is in contrast to a custodial wallet, where a third party holds and controls the private keys, leaving users at risk of losing their funds in case of a hack or other security breaches.
What Could Be Improved?
Morpher is a trading platform built on blockchain technology and offers a unique approach to trading, but for novice traders or those new to the world of blockchain and cryptocurrencies, it can be overwhelming to understand the full extent of the platform’s capabilities.
Morpher should consider providing more educational resources, such as guides, tutorials, webinars, and workshops that explain the technical aspects of the platform and how to use it effectively.
Communication is an area where Morpher could improve as well. One aspect of this is the transparency of the company’s operations and decision-making process. Users would benefit from more information about the company’s long-term goals and plans, as well as any changes or updates to the platform. This would help users to understand how the platform is evolving and how it will affect them.
Lastly, another area where Morpher can stand to improve is its market offerings, because it currently supports less cryptocurrencies, stocks and forex pairs as compared to other exchanges.
Morpher Review – Overall Rating
With so many unique and great features, Morpher is tough to beat. From its zero-fees, infinite liquidity, instant trade settlements, and no counterparties, to its user-friendly interface, and enhanced security, the platform offers a complete trading experience.
Overall, Morpher earns a rating of 5 out of 5 stars for its innovative approach to trading and its commitment to democratizing the financial markets.
Frequently Asked Questions
What is MPH?
MPH―Morpher’s native token―is an ERC20 token, built on top of Ethereum and it is compatible with nearly all crypto wallets and crypto exchanges. Every trade on Morpher is placed using MPH tokens, and all gains/losses are paid out in MPH.
Is Morpher available in the U.S.?
No, Morpher is not available in the U.S. Here is the full list with restricted countries.
Can I trust Morpher?
Morpher can be trusted as it is an officially registered company in Vienna, Austria, and it operates in accordance with EU laws. It has received fundings of around $8 million so far, and one of the investors is Tim Draper, a well-known venture capitalist.
Is leverage available on Morpher?
Yes, you have the option to use up to 10X leverage on the platform.
DISCLAIMER: The opinions expressed in this review are just for educational purposes only. It is important to do your own research and due diligence before signing up with Morpher and making any investment decisions. Cryptocurrencies are highly volatile and can fluctuate in price, and the author cannot be held liable for any losses incurred as a result of reading this article or acting on its contents.