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. Other exchanges from the same country includes, inter alia, TOPBTC.
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 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
ACX charges a withdrawal fee amounting to the network fees when you withdraw BTC. This fee is below the industry average and thus constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.
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.
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. The answer is two-fold:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Exchanges handle of course a lot of cash or coin deposits and withdrawals.
ACX has a security score of C+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
ACX also 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):