UPDATE 15 March 2021: When trying to access the website of 6x Exchange today, we were unsuccessful. We just received an error message. There was no information on system maintenance or anything similar.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard.
6x Exchange Review
A crypto exchange guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of 6x Exchange consists of four parts: general info, fees, deposit methods and security.
6x Exchange is an exchange from Singapore. Singapore is one of the countries in the world which has the most registered crypto exchanges. But, as you know, when it comes to crypto trading, the world is your playing field and the locality of the exchange doesn’t really matter that much.
The exchange does not list US-investors as prohibited from trading, but US-investors should do their own assessment of any problems arising from their residency or citizenship.
The exchange lists its transparency, its safety and security, that they do proper due diligence of cryptos before listing and that they are an entry-level exchange (through “physical currency exchange stations”, more on that below), as the four main advantages of the platform.
6x Exchange also has an OTC-desk. With an OTC-desk, you can execute larger trades with quick settlement. Trades that you for pricing reasons (also known as “slippage”) don’t want to execute on on the open market.
Something we feel is a bit misleading is that the exchange on its website refers to itself as “the world’s leading digital assets trading platform” and “Asia’s Largest Crypto Exchange”. Under no circumstances that we can think of will those statements be correct. We recommend the exchange to clarify what they mean with these statements on the website, or delete them.
If you’re interested in a trading platform that is also available through mobile, then 6x Exchange won’t let you down. They have an application that you can download, both for iPhones or Android-phones.
6x Exchange Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should decide for yourself 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 crypto 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 6x Exchange:
6x Exchange Fees
6x Exchange Trading fees
The fees at any exchange are very important to consider. It should be noted that many exchanges have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts.
This specific trading venue offers a flat trading fee of 0.10%. This means that the exchange does not care about whether you are a taker or a maker. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. These trading fees are far below the industry average which is around 0.25%, although many exchanges are starting to shift towards lower trading fees (such as 0.10% or 0.15%).
6x Exchange Withdrawal fees
6x Exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is roughly in line with industry average.
6x Exchange does not in and of itself accept any deposits of fiat currency. You can only deposit cryptos here. This means that the new crypto investors (i.e., the investors without any previous holdings of cryptos) can’t trade here. In order to purchase your first cryptos, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
However, we should note here that 6x are currently establishing “physical currency exchange stations” at various locations across the globe. They do this in order to provide the public with “convenient, safe, and easy access” to the trading platform and its services.