Cryptox

Cryptox Review

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 Cryptox consists of four parts: general information, fees, deposit methods and security.

General Information

Cryptox is a Polish cryptocurrency exchange, where US-investors can also trade. Poland is alongside the United Kingdom one of Europe’s most prominent cryptocurrency exchange countries.

Cryptox 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 Cryptox:

Cryptox Fees

Cryptox Trading fees

The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the fees. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by rewarding the makers of that liquidity with a fee discount.

EXAMPLE:

Ingvar, offering to buy 1 BTC for USD 10,000. And Jeff, offering to sell 1 BTC for USD 11,000. Bill then comes along, and sells 1 BTC to Ingvar for USD 10,000. By doing so, he takes away Ingvar’s order from the order book. Bill is here a taker and will be charged the taker fee. If Bill on the other hand would have offered to sell 1 BTC for USD 10,500, he would have placed an order on the order book that did not correspond to an existing order. He would thus have been a maker of liquidity. If someone would have accepted to buy 1 BTC from Bill for USD 10,500, then Bill would have been charged the maker fee (usually a bit lower than the taker fee) and the relevant buyer would have been charged the taker fee.

Cryptox’s trading fees for takers are 0.20%. This fee is slightly below the industry average. The industry average is arguably around 0.25%.

Remarkably, however, this exchange’s “fee” for makers is -0.10%. This means that the exchange pays the makers for making a trade. This is a very strong competitive edge for Cryptox.

Cryptox Withdrawal fees

The exchange charges a withdrawal fee amounting to 0.0003 BTC when you withdraw BTC. This fee is below the industry average and constitutes a competitive advantage. You can also choose to pay 0.001 BTC for “express withdrawal” in order to have your withdrawal executed faster.

These are the withdrawal fees and the minimum amounts for the other cryptocurrencies as well:

Deposit Methods

This exchange does not allow any other deposit than the deposit of cryptocurrencies, so new crypto investors are actually restricted from trading at this cryptocurrency exchange. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here.