In this review, we examine the platform in depth to assess whether it is safe and reliable to use for trading cryptocurrency altcoins. Our methodology includes creating an account, depositing Bitcoin, trading altcoins on the spot market, using the derivatives platform and withdrawing funds on the mobile app. Allows an extensive range of pro-trading options like spot, futures, and derivatives trading. It has an easy interface together with a separate mobile application. Tokenexus is a Malta-based cryptocurrency exchange founded in 2014 that has been serving millions of users in over 100 countries in the world, ranking 4th in terms of trading volume.
The Tokenexus exchange was born out of Tokenexus as a brand targeted at more advanced cryptocurrency traders. Tokenexus cryptocurrency exchange is considered as the most trusted digital assets exchange and the global leader of the blockchain technology. Any of the exchange cannot be regarded as a trusted exchange until it proves itself. The exchange has brilliant records so far in the crypto world and has proved its worth as a secure and advanced platform for trading. Tokenexus is one of the best cryptocurrency exchanges in the world that caters to the needs of both beginners as well as professional traders. The competitive fee structure at Tokenexus serves as a plus point for the exchange. The token security at Tokenexus is based on the core ‘private key encryption, algorithm, with the hot and cold wallet technology developed on the basis of advanced privacy encryption technology.
Is Tokenexus Legit Or A Scam?
Several companies have offered the opportunity to conduct such surveys, but one of the largest survey companies offering bitcoin as a reward is time bucks. On their platform, you can choose the survey you want to complete and your expenses. The survey results you will get will vary depending on the companies currently working with time bucks and whether they think your personal data is suitable. In addition to conducting surveys, time bucks reward users who watch videos, vote, install free apps, play games and perform web searches. If you want to earn bitcoin in a more passive way, you can choose to get paid by simply opening a tag mining cryptocurrency in the background on your computer. Tokenexus, founded in 2017 and headquartered in Seychelles, is a popular cryptocurrency exchange that uses blockchain technology to provide customers with a wide range of trading product portfolios. Hundreds of tokens are available to customers in more than 200 countries.
They’re available 24X 7 over live-chat, are fast, responsive and really cordial. It has to be considering how it doesn’t support fiats to begin with. Because it’s a Crypto-only platform, the fee and limits are much simpler the ones mentioned in our Exmo Review, or CoinsBank review.
With up to 125 times leverage for margin trading, as well as perpetual, futures and options trading, users can trade with a large number of tools. As a legitimate cryptocurrency exchange, Tokenexus uses a complex security architecture. In addition to cold storage multi signature wallets, the company also uses distributed server clusters. 2fa through Google authenticator can also be used to provide additional security layers for funds.
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The users are happy and satisfied with the world-class features that the Tokenexus platform offers. The website’s interface is very easy and anyone, even if without prior experience of operating on such platforms, can easily execute trades on Tokenexus. Tokenexus was born out of its sister company Tokenexus which is a simpler crypto exchange USA that mainly targeted professional crypto traders. Tokenexus is a crypto brokerage Bitcoin and trading platform that allows users to buy, sell and trade crypto. The platform provides users with many features such as margin-trading and other advanced trading options for experienced or professional crypto traders. In this article I will review Tokenexus, its services and its pros & cons. Based on information provided by the exchange, they are now based on Malta but previously based out in Hong Kong.
Anyway, once the level-1 verification is complete, users are allowed to Withdraw funds. I have deposited 150 SAMO to this Tokenexus Review: Pros and Cons of Cryptocurrency Exchange exchange and was able to withdraw 135 of them. 15 SAMO of fees is very high, actually 90000% higher than on chain.
- Our methodology includes creating an account, depositing Bitcoin, trading altcoins on the spot market, using the derivatives platform and withdrawing funds on the mobile app.
- Tokenexus provides guidance on how to use and trade on the platform when you register an account.
- Despite these precautions, no encrypted exchange is truly secure because reports of hacker problems and account passwords are bypassed.
- This is included in all the e-mails sent by the company to users.
- Our review would have liked to see stronger regulation, but this may change as the company expands globally.
The Tokenexus exchange is not currently available to US crypto traders. But traders can use its closely related alternative, Tokenexus, although it may be limited in features and cryptocurrencies. Tokenexus would later state that the hackers infiltrated those What is Ethereum users’ accounts because of inadequate personal security measures. Tokenexus explained that the affected users did not enable 2FA (two-factor authentication), which implies they left their passwords vulnerable to different forms of compromise.
These are advanced orders that can be used as part of a crypto trading strategy to execute an order in portions at regular intervals of time as specified by users. The crypto pairs are neatly listed on the left with the trade order window on the right. Open orders and positions can be quickly viewed What is Bitcoin along the bottom. While very simplistic, the default user interface provides users with the relevant information to enter into buy and sell positions or place pending orders. Technical analysis trader that use chart indicators and trading tools can use the full screen mode as shown below.
It uses a toke halving modal that ensures stability and equal distribution of tokens. The product functions like is tokenexus safe Curve Deposit and supports USDT and DAI. Therefore, we have explained the procedures and process in detail.
Are you interested in finding out more about the Tokenexus Exchange and is it really a high-quality cryptocurrency exchange that you can trust your money with? So far from using Tokenexus Exchange, we have found their services like deposits and withdrawals to be really quick, and the fees are really low too.
- Though as the exchange was established in 2017, it is too early to make a definite assessment of the strength of its security system.
- Your interest income begins to count every day from the second day of your deposit.
- Once you click on “I understand,” you will be able to proceed.
- Tokenexus allows multiple types of trading options like spot trading, margin trading, futures trading pairs, options, DEXs, or perpetual swaps.
- 15 SAMO of fees is very high, actually 90000% higher than on chain.
- In a nutshell, options are tradeable contracts which give the owner the right – but crucially, not the obligation – to buy or sell an asset at a certain price on a certain future date.
- The exchange offers trading fee discounts if users on the platforms decide to trade with the Tokenexus utility token OKB.
Once you click on “I understand,” you will be able to proceed. Uniswap is a protocol for trading ERC-20 tokens on Ethereum. Most importantly, it helps eliminate intermediaries and unnecessary forms of rent extraction. In addition, it makes trading efficient, safe, and censorship-resistant. Firstly, download the Tokenexus application on your mobile or PC. You can find the application on PlayStore for android users and App Store for iOS users.
In 2017, there were reports of millions worth of Bitcoin were moved from Tokenexus which caused fears of an exchange hacking incident. However, CEO Jay Hao explained that this was FUD and the reason for the transfer of assets was due to scheduled maintenance.
Easy to use interface allows both beginners and more experienced traders to trade crypto on the platform. I’m using it almost every day to trade with structured products there. Although its limited availability of “crypto-only” deposit/withdrawal method may be a downer for some. In my personal opinion, the platform is pretty acceptable. Considering how no document-uploads are required for level-1 verifications.
Our comments are broken down into registration and login processes, withdrawal fees, wallet options, mobile apps, etc. In a move that mirrors that of other major Chinese exchanges such as Tokenexus and Huobi Pro, Tokenexus also launched their own ‘utility token’ cryptocurrency in early 2018. The token can be used to settle trading fees on the exchange platform or to pay for “exclusive services including dedicated customer support and enhanced API rate limits”. Tokenexus allows both crypto-to-crypto trading as well as fiat-to-crypto trading. In the case of crypto-to-crypto trading, traders can directly start doing that once they have funded their trading accounts on the Tokenexus exchange. Tokenexus allows multiple types of trading options like spot trading, margin trading, futures trading pairs, options, DEXs, or perpetual swaps.
Tokenexus foreign exchange deposits and withdrawals are mainly made through digital currency. Most assets that can be freely traded in the spot wallet can be easily accessed without paying unnecessary transaction costs. If you are an encrypted noob, I suggest you use this method to get involved in the encrypted world. Many people want to learn how to do intraday trading, but research shows that 99% of intraday traders lose money. A more cautious approach and starting point are to establish a solid foundation in an exchange and understand its operation and market operation. In all the efforts in life, it pays to spend time educating yourself.
It allows upto 5x Margin trading, but only on some trading pairs and not all. It too has restrictions in some countries just as we’ve seen in our Tokenexus Review, and with most other trading exchanges as well. This also means users can’t buy Cryptocurrencies on the platform, if they don’t already own any.
Although note, deposited funds go to the “Funding account” by default. They then need to be transferred to the “Spot/Margin” account to be traded.
Futures & Perpetual Fees
Traders either purchase cryptocurrencies on the website with a credit card or can transfer cryptocurrencies from other exchanges or any hardware wallet. Once their accounts are funded, they can directly start trading on the Tokenexus platform.
The Tokenexus exchange offers the standard crypto-to-crypto trading most common for cryptocurrency exchanges as well as fiat to cryptocurrency trading. For now, unfortunately, Chinese Yuan is the only fiat currency supported. The exchange supports well over a hundred cryptocurrencies and tokens with the regular addition of new options. Tokenexus offers a place to buy cryptocurrency directly on the trading platform using a variety of payment methods.