US investors permitted
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 CPDAX consists of four parts: general information, fees, deposit methods and security.
CPDAX is a South Korean cryptocurrency exchange. It launched in September 2017. South Korea is – together with Hong Kong and USA – one of the bigger country players in the world of cryptocurrency. It is the home of 9 exchanges listed in our Cryptocurrency Exchange List. These 9 exchanges are Bithumb, Coinone, Korbit, Coinnest, Coinrail, Gopax, Upbit, Allbit and CPDAX.
This exchange’s liquidity is decent. On the day of writing this review, it was almost USD 11 million, placing it among the top 80 in the list of the world’s exchanges and their various 24 hour trading volumes.
The exchange is available in the following languages: English, Korean and Chinese.
CPDAX does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. This thought is further supported by the fact that the platform is available in the English language (denoted by an American flag). However, any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
CPDAX Trading fees
As you might know, 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 a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
CPDAX charges takers 0.20%. This is a fair fee, as the global industry average is 0.25%. Makers receive a 50% discount and only have to pay 0.10%, which is intended to promote the liquidity at the trading platform.
It should be noted here that many exchanges have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the Cryptocurrency Exchange List are excluding any such volume discounts.
CPDAX Withdrawal fees
For exchanges that at all charge withdrawal fees (and doesn’t charge 0 withdrawal fees), CPDAX charges the absolutely smallest fee. One might wonder why they charge this fee at all. When withdrawing BTC at this exchange, you pay only 0.00005 BTC. This is way below the network fees that are always a consequence of a BTC transfer (such as a withdrawal).
This exchange does not allow credit card deposits (but it does allow wire transfer deposits). Consequently, CPDAX is not the right place for you if you insist on using your credit card when depositing funds to your chosen cryptocurrency exchange. To find an exchange where credit card deposits are possible, you can always use our Exchange Finder or use the filters in our Cryptocurrency Exchange List.
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information.
- Exchanges handle a lot of cash or coin deposits and withdrawals.
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and a lot of the exchanges receive F as scores. CPDAX, however, received an A+ as its score, which is very impressive. Out of more than 350 exchanges listed in our Cryptocurrency Exchange List, only three others received an A+ score (BitMEX, Upbit and Coinbase Pro (previously GDAX)).
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.