UPDATE 10 May 2021: C2CX has closed down. They announced this through the following message on their site:
Accordingly, we have marked it as "dead" in our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
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.
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 liquidity at C2CX is not very good. On the date of first writing 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. On the date of last updating this review (23 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume had not changed at all, then USD 3.1 million, which awarded the platform place no. 154 on the same list.
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.
Advanced Trading and Listing Requirements
This exchange is also proud to state that they have “advanced trading” on its platform. As examples of what makes their trading platform advanced, the exchange notes that they have stop loss orders, that you can set an expiry date for an order, that you can receive interest on certain deposits and make use of synthetic coins.
Moreover, there are exchanges out there that list all cryptocurrencies that they can find, and there are others that only have Bitcoin. There are also everything inbetween those two extremes. C2CX apparently performs some sort of due diligence for a coin to be listed and emphasizes that they put “quality over quantity”.
C2CX 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 C2CX:
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.
To our understanding when reviewing the fee information on the website of this exchange, they actually do not charge any trading fees at all. This means that the taker fees at C2CX are 0.00%, and that the maker fees at C2CX also are 0.00%. This is an extremely competitive offering that we really think is a feather in the hat for this exchange.
C2CX Withdrawal fees
C2CX offers a percentage based withdrawal fee, meaning that they charge you a percentage of the withdrawn amount when you withdraw. Their percentage charged is 0.15%. This is an unusual withdrawal fee model, but it is not unheard of. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount.
With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.000015 BTC (extremely low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.015 BTC (extremely high). Each investor should consider whether this withdrawal fee model would be appropriate for them based on their own individual circumstances.
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 look at security. A few of those ways 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.