A trading cryptocurrency guide must of course provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This is a review of the cryptocurrency exchange ACX. The review consists of four parts: general information, trading fees, deposit methods and security.
ACX is an exchange based in Australia.
Unfortunately for US-investors, ACX prohibits US-investors from trading on its exchange. Interested US-investors must therefore refer to any of the other top crypto exchanges.
ACX 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 ACX (when not signed in):
ACX Trading fees
The fees at any exchange are very important to consider.
ACX’s trading fees for are 0.20% for both takers and makers. This fee is slightly below the industry average which is around 0.25% and thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market. Maybe it even makes this exchange the best cryptocurrency exchange site for you.
ACX 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.
ACX charges 0.0006 BTC per BTC-withdrawal. This withdrawal fee is exactly in line with what Cryptowisser.com has found to be the global industry average. Not only that, on 8 June 2019, ACX also announced that they had removed all withdrawal fees for the fiat currency AUD. 0 withdrawal fees for fiat currency withdrawals are quite unusual so this is a really consumer-friendly move by this exchange.
ACX offers wire transfer as a deposit method, but credit cards are not a permitted deposit method. This might of course be disadvantageous if you would prefer to use your credit card for any reason. However, as the exchange accepts deposit of fiat currencies at all, it distinguishes itself from many of the top crypto exchanges that only allows deposits in cryptocurrencies.
ACX proudly notes on its website that over 95% of their digital assets are stored offline in their proprietary, state of the art Cold Storage system, involving 2FA. They also state that funds security and personal information protection is their top priority, with a security system that undergoes continuous improvement and regular IT security and financial audits.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):