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 DSX consists of four parts: general information, fees, deposit methods and security.
DSX 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, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
DSX seems to allow US-investors at the exchange. But, US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
The exchange was allegedly founded to bring a professional experience to the cryptocurrency market. The team behind the exchange have a background in London’s financial markets. They claim that such background gives them the experience to deliver that professionalism and the knowledge to build a platform ready for tomorrow.
The exchange say that they apply ‘a little bit of London’ to everything they do, and when saying that they are referring to their experience from the finance industry. We don’t know if it’s “London” but the design of the website is very crisp and they have really done a good job with their graphic language.
In terms of trading volume, DSX are usually around top 100 with an average trading volume of approx. USD 2 million. This trading volume is not impressive and doesn’t cater for the highest liquidity at the exchange, but we do think the trading volume will increase over time.
Also, this trading platform is not for people interested in the less established cryptocurrencies (Tokenstars Coin, The GCC Coin, Adshares, Triggers Coin, Ethbits Token, or coins of roughly the same size). If you want to sell or buy any of those, you’ll have to choose another trading platform.
DSX 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. 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.
It should also be noted that many exchanges (including DSX) have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts.
DSX’s trading fees for takers are 0.35%. This fee is slightly above the industry average. However, DSX charges a somewhat lower fee for makers (0.20%), thus promoting the liquidity at the exchange. This is a strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders. Maybe this condition even makes DSX the best cryptocurrency exchange site for you.
DSX Withdrawal fees
DSX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is way below the industry average and also constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.
DSX offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Exchanges handle of course a lot of cash or coin deposits and withdrawals.
DSX’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 and could also be a factor making you conclude that DSX is the best cryptocurrency exchange site for you.
DSX also work with 2FA (two-factor authentication), smart backup, cold storage and manual withdrawals, to ensure the safety of all users’ funds.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.