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 Cryptex24 consists of four parts: general information, fees, deposit methods and security.
Cryptex24 is a Russian cryptocurrency exchange. It feels unfair tospeak about a Russian cryptocurrency exchange without also mentioning YoBit, one of the first to ever exist. So there, now it’s mentioned.
This particular cryptocurrency trading venue does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
Cryptex24 Trading fees
Cryptex24 is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying and selling BTC, LTC and ETH. When buying from the exchange, the purchase price offered by Cryptex24 will be higher than the market price. Conversely, when selling to the exchange, the purchase price offered will be lower than the market price. The mark-up or mark-down is not specified anywhere. The fees involved are service fees (3-6%) and transfer fees (varies between exchanges). Together, these fees are very substantial.
Cryptex24 Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant. There are enough fees to consider (see above)…
At this exchange, they offers wire transfer as a deposit method, but you can’t deposit via credit card. The wire transfer deposit methods are plenty in numbers but all quite expensive.
Cryptex24’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):