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 CRXzone consists of four parts: general information, fees, deposit methods and security.
CRXzone is another one of the many cryptocurrency exchanges from Singapore. As such, the competition on its home-turf is fierce. WEX, Coinbene, Triple Dice Exchange, Coinut, COSS, ExcambioRex, Coinhako, FYB-SG, UEX, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, Bitbox, ABCC, Bytex, Kyber Network and Liquid are all registered in Singapore. Luckily for CRXzone though, the cryptocurrency market is truly global so where you are registered has little to no meaning for the cryptocurrency traders.
This exchange is operated by the company Intellect Market Pte. Ltd., founded in 2014. Their website clearly states the address and phone number of the company, and names (but no pictures) of all team members.
CRXzone does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
OTC Trade Services
Intellect Market Pte. Ltd.
#22-16 , 10 Anson Road,
To execute an OTC-trade with the help of CRXzone, the amount of the trade cannot be lower than 5,000 SGD (USD 3,706) and not higher than 500,000 SGD (USD 370,598).
Merchant Payment Gateway
If you are a merchant looking to accept Bitcoin or Litecoin as payment for your goods or services, then this exchange might have something that is interesting to you. The exchange namely provides an Merchant API that merchants can integrate into their respective websites. The CRXzone Payment Gateway is linked to the trading platform, Exchange. This gives the merchants the option between holding the payment received as crypto assets, or liquidate the payment into the preferred choice of fiat currency possible to exchange into at the exchange. This is certainly an interesting solution that we believe will become more and more common.
CRXzone Trading fees
CRXzone’s trading fees are 0.35% (for both takers and makers). This actually puts them on the high-end of the Singaporean cryptocurrency exchanges, and also places them a notch higher than the global industry average. The global industry average is arguably around 0.25%.
CRXzone Withdrawal fees
We have not been able to find any information on the exchange’s website on their withdrawal fees for withdrawals of cryptocurrencies. This is potentially a risk for you as an investor. Generally speaking, absence of information on the website of a cryptocurrency exchange tends to mean that the information would not be such that a potential investor would like to hear. But that’s not always the case, of course. The withdrawal fees for fiat currencies are clearly specified at the website and are as follows:
At this trading platform, you can deposit through both wire transfer and credit cards (subject to certain conditions). The minimum deposit is currently USD 500. The exchange is accordingly an entry-level exchange, available also to new crypto investors without previous holdings of cryptocurrencies.
As for the credit card deposits, only people with a Singapore bank account linked to their credit card can deposit to the exchange using credit card.
For cryptocurrency investors that prefer to use Perfect Money, Skrill, Payeer, PayPal etc., CRXzone also offer those options.
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. CRXzone only received a F-score in this test. This is below industry average and is thus not a competitive advantage for CRXzone.
As mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: