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.
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 DSX-team also proudly states on its website that the platform is built for every level of expertise. From the new cryptocurrency traders, to the most seasoned ones.
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.
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.
As of 15 October 2019, DSX offers its trading platform in mobile version as well, for iPhones. In the email to its users where DSX informed about this, they also said that Android users will soon be able to trade on DSX via their phone as well. They were “hard at work” with developing their Android app.
Mobile support is of course very helpful for any investors that want to trade, or maybe just monitor their trades, on the go.
In terms of trading volume, DSX are usually around top 100 with an average trading volume of approx. USD 2 million. At least on the date of first writing this review (August 2018). 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. On the date of last updating this review (15 October 2019), the trading volume was a bit lower than previously (USD 1.28 million).
This exchange is not open to citizens or residents from the United States of America. But, if you are a resident or citizen of a state in the U.S. and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting investors such as yourself.
DSX 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 DSX:
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 0.25% (previously 0.35%). This fee is in line with the global industry average, arguably being 0.25%. We are seeing that many exchanges are shifting to even lower fees though, and the new global industry average that is starting to emerg is rather 0.10%-0.15%.
DSX also charges a somewhat lower fee for makers (0.15%), 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.
DSX Withdrawal fees
DSX charges a withdrawal fee amounting to 0.0004 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 and has done so for some time. On 13 February 2019, the exchange also announced the credit card deposits were now possible! The announcement had the following wording:
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 also work with 2FA (two-factor authentication), smart backup, cold storage and manual withdrawals, to ensure the safety of all users’ funds.
There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes a few such exchanges with very impressive security scores: