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 DragonEX consists of four parts: general information, fees, deposit methods and security.
UPDATE 1 April 2019: DragonEX was subject to a hacker attack on 24 March. The hackers stole private keys and transferred assets from the exchange. Police from Estonia, Thailand and Singapore are involved in the case. We will follow the developments of this case closely. We urge any traders interested in creating an account with DragonEX to proceed with caution.
DragonEX is a cryptocurrency exchange based in Singapore. Singapore is one of Asia’s biggest birth givers to cryptocurrency exchanges. There are SO many. If we would mention only one of them (gun to our head), it would be Coinut that has received a lot of praise from the crypto community lately.
Based on the information presented on this exchange’s website, US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
DragonEx’s trading platform is also available as a mobile application, for both iPhones and Android phones. So if you prefer to do your cryptocurrency trading on-the-go, that’s possible also with an account at this exchange.
DragonEX 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 DragonEX:
DragonEX Trading 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. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
DragonEx's trading fee for takers is 0.20%. Makers enjoy a discount on the trading fee and they trade for half the taker fee, so 0.10%. These fees are below, or in line with, the industry average which has historically been 0.25% but is now creeping towards 0.10%-0.15%.
DragonEX Withdrawal fees
DragonEx charges a withdrawal fee amounting to 0.0007 BTC when you withdraw BTC. This is quite in line with industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
In any event, 0.0007 BTC is an acceptable withdrawal fee.
If you need to deposit funds to your cryptocurrency exchange by use of your credit card, then this exchange is not the place for you. But don’t despair, there are many exchanges out there accepting fiat currency deposits through credit card payments. Find one by using our Exchange Finder!
DragonEX does however support wire transfer deposits.
This exchange’s security score is B-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges. However, all traders should be aware that the security score in the Observatory-test is only one of many indicators of an exchange’s security.
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: