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 Cryptonex consists of four parts: general information, fees, deposit methods and security.
Cryptonex is a cryptocurrency exchange from the United Kingdom. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
Cryptonex presents information on the company owning the exchange on the website. This always adds a bit more comfort to the interested trader, as such information makes it less likely that the exchange will misappropriate your money and be a scam.
This exchange offers trading in its own cryptocurrency (Cryptonex Coin), and the two biggest ones: Bitcoin and Ethereum. The exchange offers a very wide selection of fiat currency trading pairs for both Bitcoin, Ethereum and the Cryptonex Coin.
From what we have learned, Cryptonex is also open to US-investors. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Cryptonex Trading fees
This UK-crypto exchange has a flat fee and its amount is 0.10%. 0.10% is substantially below the global industry average. Particularly so for the fiat-to-crypto (CNX to GBP, EUR, USD, RUB or BRL) trading pairs. These are usually priced much higher. The trading fees at this exchange are thus a competitive advantage for this exchange.
Cryptonex Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average, but there are also many exchanges out there offering lower withdrawal fees.
This exchange does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first Cryptonex Coin, Bitcoin or Ethereum, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
Cryptonex’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following 10 cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: