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 C2CX consists of four parts: general information, fees, deposit methods and security.
C2CX is a Chinese cryptocurrency exchange that launched in December 2016. Accordingly, it has been around for a longer period than most cryptocurrency exchanges.
The liquidity at C2CX is decent. It is regularly among the top 100 exchanges in terms of 24 hour trading volume. On the date of this review (17 January 2019), C2Cx had a 24 hour trading volume of USD 3 million, placing it on place no. 91 on the list of the world’s biggest cryptocurrency exchanges rated based on 24 hour trading volume.
This exchange supports a medium sized number of cryptocurrencies. You can find all of the biggest cryptocurrencies here but the newest altcoins are not traded on this particular trading venue.
The exchange does not accept US Residents. However, it does accept US citizens who are not US Residents. If you’re a US Resident that’s looking for a cryptocurrency exchange to trade at, we can help you with that. Just use our Exchange Finder-tool.
C2CX Trading fees
The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers “makers” because their orders “make” the liquidity in the market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
C2CX’s taker fee varies from 0.20%-0.10%, dependent upon which cryptocurrency you are trading. If you’re trading an ERC-20 token, the taker fee is always 0.15%. If you’re trading a non ERC-20 token, the taker fee is 0.10% (aside from Skycoin, which is traded at 0.20%). These fees are indeed competitive. As the global industry average is roughly 0.25% per trade, C2CX’s fees are lower than the global industry average.
But what about the makers? What do the makers pay? The makers at C2CX pay nothing. This is an extremely competitive offering that we really think is a feather in the hat for this exchange.
C2CX Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0001 BTC when you withdraw BTC. Global industry average is 0.0008 BTC for BTC-withdrawals. Accordingly, also this fee is far below the global industry average.
All in all, great job on the fees C2CX!
C2CX does not yet accept wire transfer deposits or credit card deposits of fiat currency. If it is important to you that you can deposit via wire transfer or credit card, you have to find an exchange where such deposit methods are permitted. Find one by using our Exchange Finder!
There are many ways to assess an exchange’s security. One such way is to run the domain (i.e. the actual website) in the Observatory-test by Mozilla (https://observatory.mozilla.org/). When doing this for the C2CX-website, it only scored an F. To be fair though, this is actually the grade that a majority of the exchanges in our Cryptocurrency Exchange List receives.
Other ways to assess security is to look at data storage, encryption of user data and user authentication. With respect to the data storage, C2CX stores all data offshore “outside the NSA cloud”. With respect to encryption of user data, C2CX uses the SSL-protocol. Finally, with respect to user authentication, this platform uses 2FA (two-factor authentication plus email authorization). So in these matters, C2CX seems to be on top of its game.
Finally, 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):