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
ACX charges a withdrawal fee amounting to 0.0001 BTC when you withdraw BTC. This fee is substantially below the industry average and thus constitutes a strong competitive advantage against the majority of other cryptocurrency exchanges in the market. In fact, the global industry average is 0.000812 BTC per BTC-withdrawal so ACX’s withdrawal fee is only 12% of that.
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.
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):