A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of 50x.com (previously STeX) consists of four parts: general information, fees, deposit methods and security.
50x.com (previously STeX) is a cryptocurrency exchange registered in the Saint Vincent and the Grenadines, a group of islands in the Caribbean Sea.
The 50x.com-trading platform is available in the English, Russian and Korean language.
50x.com claims to be the “1st aggregator of crypto liquidity”, and states that you can “trade over 10,000 coin[s] cross rates in one place”. We have not been able to verify any of these statements, but we do know that they are at least not the only aggregator of crypto liquidity.
Also Covesting.io aggregates liquidity from other exchanges. With liquidity aggregation, we mean that the exchange offers the opportunity for its traders to benefit from the order books also from other cryptocurrency exchanges. This creates an unusually deep order book and expands the range of digital assets possible to trade at the exchange and ensure fair pricing of the trades.
50x.com Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at 50x.com:
And here is a picture of a more detailed version of the trading chart (ETH/BTC):
To our knowledge, US-investors are permitted to trade at this exchange. However, any US-investors interested in trading here should form their own opinion on any issues arising from their citizenship or residency.
50x.com Trading fees
This exchange charges flat fees of 0.20%, meaning that it doesn’t matter whether you are a taker or a maker. You get charged 0.20% of the order value anyways.
0.20% is slightly below the global industry average, which is arguably around 0.25%.
50x.com Withdrawal fees
What about withdrawal fees then? Withdrawal fees vary dependent upon which crypto asset you are withdrawing, but they are normally a fixed amout of the relevant crypto asset, and not percentage based as the trading fees. The industry average BTC-withdrawal fee is 0.0006 BTC according to Cryptowisser.com's empirical studies.
50x.com charges 0.001 BTC per BTC-withdrawal. This withdrawal fee is around 60% above industry average and thus not a very competitive fee. It is however not sufficiently high for us to recommend any prospective user to stay away from this exchange. 0.001 BTC per BTC-withdrawal is not a "crazy high" fee and it is not unreasonable to believe that the platform will lower it going further.
50x.com (previously STeX) does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
The exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: