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Exchange Review

ChainEX

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Exchange Fees

Bitcoin Logo 0.0005 Withdrawal Fee • 0.25% Taker Fee • 0.00% Maker Fee

Deposit Methods

Yes Wire transfer No Credit Card Yes Cryptocurrency

ChainEX Review

A crypto exchange guide must provide reviews of all the exchanges out there, so that you can find the right one for you. This review of ChainEX consists of four parts: general info, fees, deposit methods and security.

General Info

ChainEX is an exchange based South Africa that launched in 2018. In our Exchange List, the only other exchanges from South Africa are Altcoin Trader and iCE3 (also known as iceCUBED exchange).

US-investors may not trade here today. Accordingly, if you’re a US-investor and you’re in love with ChainEX, you’ll have to wait. In the meantime, use our Exchange Finder to find out which exchanges that today support US-investors.

ChainEX promotes a few things as advantages with its trading platform, as follows:

ChainEX Advantages

Referral Program

ChainEX also has a referral program for its users. It’s easy to participate, the only thing you have to do is to create an account, get your link, invite friends and then get your bonus (just as any other referral program really). Different from many other referral programs, the program at this platform is multi-tiered. This means that you get 16% of your direct invitees trading fees, 8% of the trading fees of the people the invitee’s invitees etc. The program goes down to level 4 where you receive 2% of the trading fees from the users at that level.

ChainEX 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 crypto 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 see that it feels right to you. The below is a picture of the trading view at ChainEX:

ChainEX Trading View

ChainEX Fees

ChainEX Trading fees

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. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.

ChainEx’s fee for takers is 0.25%. 0.25% can be argued to be the industry average taker fees. However, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a very strong part of ChainEX's offering and can be really helpful for people interested in not picking up existing orders from the orderbook.

Many exchanges also have a structure where traders pay lower fees if they have reached a certain trading volume during a given 30 day period. This is done in order to promote the liquidity at the platform. ChainEX does this as well, with something they call scaling fees. The scaling fee table at this platform looks as follows:

ChainEx Scaling Fee Table

ChainEX Withdrawal fees

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. ChainEX doesn’t. This exchange charges a withdrawal fee of 0.0005 BTC when you withdraw BTC. This is in line with the new global industry average, arguably being exactly that: 0.0005 BTC per BTC-withdrawal.

Deposit Methods

ChainEX does offer fiat currency deposits, but you can’t deposit via credit card. Also, you can only deposit ZAR (South African Rand). So, if you for any reason would prefer to deposit to your choice of trading platform via your credit card, or through any other fiat currency then the ZAR, then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits and other fiat currencies simply by using our Exchange Finder tool.

However, as ChainEX at all accepts fiat currency deposits, it qualifies as an “entry-level exchange” where new investors can take their first steps into the thrilling crypto world.

ChainEX Security

One might ask why security is even a feature that we have looked at. Two reasons:

  • Exchanges store a massive amount of valuable personal info. This can be anything from names to addresses, government ID details, taxpayer ID numbers and a lot more.
  • Exchanges naturally handle a lot of cash or coin deposits and withdrawals.

ChainEX’s security score is C+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually quite a strong score. Most exchanges in our Exchange List actually only receive an F.

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Finally, we hope you have enjoyed reading the above review. We also recommend checking out the following exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site:

  1. PrimeXBT
  2. Simex
  3. BaseFEX
  4. Currency.com
  5. CEX.io
  6. Changelly
  7. Crex24
  8. Binance
  9. Bittylicious
  10. Coinmate