Tokenexus Review And Analysis

Tokenexus review

This means you have the option of trading between cryptocurrency and fiat currency and among cryptocurrencies themselves. Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor’s degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.

However, you can buy $25 worth of crypto with Tokenexus and play with it to gain real-world experience. The verification process typically takes a few days to complete. In 2017, Tokenexus saw a massive surge in verification requests, and over 100,000 accounts were being made daily.

We do receive compensation from some partners whose offers appear on this page. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. The nature of the fee policy of Tokenexus suggests that the exchange is looking to attract high volume traders.

Based on Tokenexus reviews, it can be concluded that Tokenexus is safe, and it uses best security practices like advanced security technologies to secure their client’s money. Also, it has Multi-Sig technology-enabled for hot wallets, and only a small amount of funds are stored safely in offline cold storage systems. Tokenexus is one of the most popular and reputable cryptocurrency exchanges and it also serves as a fiat-to-crypto gateway to serve traders all over the world. People can use fiat currencies like GBP, USD, EUR on Tokenexus to speculate. It offers its users a wide selection of educational resources, useful trading tools, and dedicated customer support; it also offers multiple accounts for its traders. The exchanges are relatively similar when it comes to fees, however, Tokenexus supports a wider range of cryptocurrencies.

Withdrawal Fees

Especially since transfer/withdrawal with an EU bank is within 24 hours. They confiscated my deposit without reason for 17 days, firstly denying it was ever received. After numerous complaints, the refused to release the money or to make me use it without reason. Their operators are rubbish and they find any reason to stall matters for several days.

Tokenexus review

One slight weakness in Tokenexus’s usability, however, is that users can’t make any trades or deposits without first verifying their accounts. Verification can take a day or two, and even up to two weeks during busy periods.

It won’t be the right choice for everyone, but for a huge amount of people, it will be exactly what they’ve been looking for. We’re happy to conclude our Tokenexus review by saying they’re a truly phenomenal betting exchange.

Note that there is a minimum of 5 Euro for Euro denominated trading pairs, and a 0.001 BTC minimum for Bitcoin denominated trading pairs. For any other trade pair the minimum is based on 5 units of the fiat currency. If you already have funds on the exchange then you will be charged a percentage fee for the amount that you are trading.

What Is The Fees Policy Of Tokenexus?

In this part of our Tokenexus exchange review, we’ll be taking you through how to actually get going with the platform with a Tokenexus how to trade guide. If this doesn’t appear alongside the rest, don’t worry, that’s simply because it’s under the subsidiary of Tokenexus USA. This is a bit of a mixed bag, so we’ll get the negative part of our Tokenexus exchange review out the way first. While much of the FAQ section is good, we did find it lacking in certain areas. It’s not a bad attempt by any means, but it lacks the comprehensiveness to be considered perfect.

  • The platform has QR codes that you can scan, making it much faster to transfer your coins.
  • Afterwards the business reconstruct its own whole entire investing system.
  • It provides a ticket system, email support, and even functioning telephone lines for a fast response.
  • Compared to some other exchanges, Tokenexus offers a narrow range of cryptocurrencies and has high fees, along with poor customer reviews.
  • Despite this slight inconvenience, each page is laid out clearly and actions are easy to execute.

Even though 2FA is not by default mandatory on Tokenexus, my strongest suggestion is to activate it as soon as you verify your account. One of the first things I noticed on Bitsamp is the extensive and extremely useful FAQ section. The platform cryptocurrency types literally provided all the relevant information you need to know before actually deciding whether you want to use the exchange or not. Effective FAQ section serves as the first line of customer support and help of Tokenexus’s users.

How Tokenexus Works

This is something that even previously anonymous P2P exchanges such as Bitcoin cash have started crypto wallet to implement. Tokenexus will usually get to your ticket in the space of an hour or two.

  • Since it launched, the duo has worked to elevate the regulatory and business operations of Tokenexus to a global standard.
  • So, in 2013, the founders decided to move the company’s operations to London to position their firm in the center of European banking.
  • It’s important to know what kind of company you’re dealing with when you’re trading cryptocurrencies.
  • A crypto exchange would certainly do no good if it does not have the most popular cryptocurrencies available to trade and buy, right?

Intermediate traders could also find Tokenexus appealing due to its advanced charting features and reliable uptime, although more advanced users will probably find the features lacking. Compared to some other exchanges, Tokenexus offers a narrow range of cryptocurrencies and has high fees, along with poor customer reviews. On the other hand, it has an above-and-beyond customer support feature (24/7 phone support). Tokenexus is a platform that has potential but does not exactly reach the same standards as eToro.

Step 3 Increase Security On Your Account

If you decide to deposit funds into your Tokenexus account with a debit or credit card, it is important to remember that you won’t be able to withdraw your funds back to the card. Instead, you’ll either need to withdraw funds back to a bank account, or via cryptocurrency. Simply choose your preferred payment method, enter the amount of funds you want to deposit, and click on ‘confirm’. If you’ve used a debit or credit card, then you can expect your Tokenexus account to be credited instantly. If you used a bank transfer, then you might need to wait a few days for your funds to show. The commission structure is both more favorable and less favorable to traders than that of other exchanges, depending on exactly how you fall into the exchange’s fee schedule. As elsewhere, the more you trade, the lower your fees – nothing unusual there.

  • One slight weakness in Tokenexus’s usability, however, is that users can’t make any trades or deposits without first verifying their accounts.
  • UK users are able to make instant deposits via ACH transfer.
  • While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
  • Choose the “Personal account verification” option to begin the verification process.
  • For example, the Multi-Sig tech prevents breaches on the Tokenexus hot wallet, where they keep a small portion of crypto assets.
  • When it comes to trading, the Tokenexus platform provides two trading interfaces.

Most other exchanges apply a surcharge to orders placed with their instant buy platforms. One of the nice things about Tokenexus is that trading fees are the same whether you use its regular platform or Tradeview.

Tokenexus has an extensive FAQ page where you can search for solutions to any problem you come across. You can reach out to the company’s global customer support team via telephone and email, and you can also tag them on social media to get support. While ACH withdrawals are free, SEPA withdrawals incur a fee of 3 EUR, and international withdrawals attract a 0.1% fee. Real-time data streams are available 24/7 thanks to the FIX, HTTP, and WebSocket APIs. What makes it more impressive is that the company’s APIs have been rated the fastest and most stable by both institutions and individual traders in many instances. The exchange is powered by a Nasdaq matching engine, guaranteeing optimal trading speed and reliability.

Security Measures

It offers a simple, user-friendly platform that makes it easy to buy and sell cryptocurrency. Tokenexus ethereum price pays a lot of attention to regulatory compliances to make sure its users feel completely legit.

Tokenexus review

While the exchange’s standard platform is sufficient for many investors, it also offers Tradeview, a trading platform for more advanced users. Judging by the extent that Tokenexus has gone to secure users’ funds, it is safe to say that the platform is safe. The exchange wisely combines a cold storage system, a good insurance policy, and two-factor authentication to reduce the possibility and effects of a security bridge. Besides, it uses data encryption to ascertain that all documents uploaded on the website are not prone to privacy risks. It is common knowledge that exchanges have a critical role to play in the crypto industry. To a large extent, the quality of services disseminated to users very much determines how enjoyable it is to own digital assets.

Tokenexus Payment Options

You do not really need any type of experience or extensive knowledge as the platform has kept everything simple and sound. You just need to select a particular cryptocurrency from the list and then your preferred payment method.

Unlike a majority of trading websites, the platform provides trading infrastructures for a handful of cryptocurrencies, most especially the established ones. Here, you can buy, trade, or sell bitcoin, XRP, Ether, ChainLink, Litecoin, Bitcoin Cash, Stellar lumens, USD Coin, Paxos Standard, and OMG Network. Moreover, stop-loss allows users to set up a selling price for their coins. If the cryptocurrency price were to fall, the coins would get sold, preventing further losses. However, the platform lacks advanced trading options like futures and margins. Tokenexus is an easy-to-use cryptocurrency exchange giant that has been around since 2011 and longevity speaks for itself. The base taker and maker fee of Tokenexus is 0.5% which is considerably higher than the competition.

Tokenexus is relatively simple to navigate through, however, the trading area itself is a bit more complex. Nevertheless, all of the main dashboard functions are accessible by clicking on one of the links at the top of the screen. The price and value of any investment in digital asset products can fluctuate. Tokenexus hits you for fees, some of which are a bit higher or somewhat unusual. That phone access can be a significant advantage when you have to explain a complex issue and may not even fully understand what’s going on yourself. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate.

“How can I buy cryptocurrency with a credit or debit card?” Accessed Feb. 2, 2022. Given the negative feedback Bistamp receives across consumer review sites, this exchange appears to have low customer satisfaction. This tends to be the case for many exchanges, as people are much more likely to leave a poor review when things go wrong than they are to leave a positive review when things work normally. Wherever possible, it’s a good idea to enable 2FA on any important online account, especially financial accounts. Authenticator apps, like Google Authenticator, are more secure than one-time passcodes sent via SMS. Our editors independently research and recommend the best products and services.

This in-depth will help answer those questions and many more. International Wire Transfer- A fee of 0,05% is charged for deposits made with an international wire transfer (the least you’ll pay is 7.5 USD and the most are 300 USD). A fee of 0,1% is charged for withdrawing funds using an international wire transfer .

How Popular Is Tokenexus?

You can, of course, deposit any of the mentioned currencies to the exchange as well. As part of being a gateway to the Ripple network, Tokenexus also accepts BTCUSD IOUs (for a complete explanation of what IOUs are, watch our “What is Ripple”video). Tokenexus works with Euros and US dollars for fiat currency options.

Tokenexus excels as a crypto gateway because it is compatible with an array of payment methods, including SEPA, ACH, bank cards, and international wire. This functionality puts Tokenexus on par with some of the top platforms that enable the buying and selling of crypto. Away from data and communication encryptions, Tokenexus has ensured that over 90% of its holdings are stored offline in cold storage, powered and insured by BitGo. The remaining are in hot wallets secured with multi-sig features. The added security initiative makes it almost impossible for hackers to steal users’ funds.