UPDATE 16 March 2020: This exchange seems to have closed down. We have tried to access the platform’s website multiple times but it never works. Accordingly, we have marked this exchange as “dead” in our database and moved it to our Exchange Graveyard.
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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 CredoEx consists of four parts: general information, fees, deposit methods and security.
CredoEx is an exchange based in the United States of America. The U.S. is one of the bigger arenas in the cryptocurrency world with a large number of exchanges and a (relatively speaking) even larger number of cryptocurrency traders. A few of the other cryptocurrency exchanges coming from the USA are Coinbase, Gate.io, Paxful, Radar Relay and Bitquick. US-investors are also permitted to trade here.
The exchange offers trading in 20+ trading pairs, most of which having the exchange’s own token – CREDO – as its base currency. There are also a handful of trading pairs that doesn’t have CREDO as its base currency (BTC/TUSD, ETH/ZRX, ETH/BTC and a few other classics).
According to information on the CredoEx website, the exchange puts the customer first and it has a support function that is open 24/7.
The platform launched in May 2018 but seems to have missed out a bit on attracting users. Looking at their numbers, on 18 April 2019, CredoEx’s 24 hour trading volume was only USD 1,235… On 8 July 2019, the 24 hour trading volume was only USD 7. Accordingly, it seems to us that this exchange is very close to closing down…
Update: on the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), neither Coinmarketcap nor Coingecko had recorded any trading volume on this patform. This is a very bad sign, so be careful when dealing with this exchange.
CredoEx 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. This is the trading view at CredoEx:
CredoEx Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.25% of the order value.
0.25% is on point with the industry average, which for a long time has been 0.25%. However, we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
CredoEx Withdrawal fees
To our understanding, CredoEx does not charge any withdrawal fees at all – they even cover the network fees! If this understanding is correct, this is of course very competitive and consumer friendly.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
This exchange has a security score of C, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is above industry average when it comes to top crypto exchanges. The majority of cryptocurrency exchanges in our Cryptocurrency Exchange List actually only receives an F when running the Observatory-test.
It should be noted though that the Observatory-test in no way is a complete security audit. It is merely an indicator of an exchange’s website security. CredoEx, for instance, also has Two-Factor Authentication with Google Authenticator and provides email alerts for deposits (the Observatory-test takes none of these aspects into account).
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: