What is Cryptonex?
Cryptonex is a cryptocurrency exchange from the United Kingdom, launched in October 2017.
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.
On 12 June 2019, the exchange also launched its mobile application. This means that cryptocurrency traders who only want to trade on their mobile phones can now do so, even when using the Cryptonex-platform.
On the date of last updating this review (2 December 2021), the 24-hour trading volume at this exchange was more than USD 69.2 million, according to Coinmarketcap.com. At an earlier update of this review (on 22 March 2020), the trading volumes was way higher: USD 293.7 million. The trading volume has definitely dropped in the last 20 months... We hope for Cryptonex's sake that it turns back up.
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 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. At this exchange, there is only an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase interface at Cryptonex:
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!