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, launched in October 2017. 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.
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 (22 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume at this exchange was USD 293.7 million. This figure placed Cryptonex on place no. 51 on the list of exchanges in the world sorted after who has the highest 24 hour trading volume. USD 293.7 million is definitely a decent trading volume.
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!