UPDATE 23 March 2023: Cryptex seems to have closed down its operations. They have the following message posted on their website:
Operations of the platform have been suspended. Critical system vulnerabilities have been detected. Assets are safe. Work is underway to audit data centers, restructure databases and other services. We apologize for the inconvenience. We are working on restoring the service as soon as possible.
However, such message has been on their website for a very long period of time now. Accordingly, we don't expect the services to ever be restored and we have decided to mark the platform as "dead" in our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange List and we'll help you find the right platform for you.
What is Cryptex?
Cryptex is a British crypto exchange. Its registered address is at least in Edinburgh, but the platform is also available in the Russian language. Cryptex has been active since 2017.
As far as we can tell, this platform does not prohibit US-investors from trading there. Accordingly, we do believe that it is open to US-investors as well. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Cryptex 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 Cryptex:
Cryptex Trading fees
The fees at Cryptex are what we call flat fees, meaning that makers and takers are charged the same fee. The fees vary from trading pair to trading pair, but the highets fee is 0.50% for both takers and makers. This is clearly above the industry average, which has historically been around 0.25%. Today, however, we see more and more exchanges moving towards even lower trading fees such as 0.10%.
However, as mentioned above, Cryptex offers different trading fees for different trading pairs. One trading pair (BSV/BTC) is even offered for free. Wonder why that is... The complete table with the different trading pairs and their trading fees is as follows:
Cryptex Withdrawal fees
What about withdrawal fees then? Withdrawal fees vary dependent upon which crypto asset you are withdrawing, but they are normally a fixed amout of the relevant crypto asset, and not percentage based as the trading fees. The industry average BTC-withdrawal fee is 0.0006 BTC according to Cryptowisser.com's empirical studies.
Cryptex charges 0.0005 BTC per BTC-withdrawal. This withdrawal fee is quite in line with the industry average (being 0.00053 BTC according to this report).
At Cryptex, you can deposit in essentially any way you want. Wire transfer and credit cards included. This can be helpful especially for newer crypto investors. The fact that fiat currency deposits are enabled here makes this exchange an “entry-level exchange”.