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, Gopax, Upbit, Allbit and CPDAX.
The exchange is available in the following languages: English, Korean and Chinese.
If you would like to use the trading platform while on your mobile, that is indeed possible. The trading platform is available as a mobile application for both iPhones and Android phones.
This exchange’s liquidity is not very good. On the day of first writing this review (7 May 2019), 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. On 8 July 2019, the liquidity had dropped significantly to only USD 1.4 million. This placed it on place no. 117. Finally, on the date of last updating this review (31 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume was only USD 179,010, giving it place no. 209 on the list.
We do not know why the liquidity has dropped so significantly lately but it is indeed a bit worrying.
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 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 CPDAX:
CPDAX Trading fees
This exchange charges flat fees (i.e., the same fees for takers and makers). They have set their flat fees at 0.15%. This is below the historic global industry average of 0.25% and thus constitutes an advantage for CPDAX. However, we are seeing more and more exchange moving to lower trading fees, such as 0.10% and 0.15%. In any event, the trading fees charged by CPDAX are not "off market" in any way.
CPDAX also offers trading fee discounts when you have a large trading volume during the preceding 30 days. Trading fees can become as low as a flat 0.05%. That is if you have a trading volume exceeding KRW 10 billion (equal to roughly USD 8.2 million) during the last 30 days. The exact trading fee discounts are set out in the below table:
CPDAX Withdrawal fees
CPDAX's withdrawal fee is 0.0006 BTC per BTC-withdrawal. This fee is roughly in line with the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
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 particularly 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)).
Finally, there are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes a few such exchanges with very impressive security scores: