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Escodex

4 from 1 vote
Estonia

Fees

Taker fee

0.1%

Maker fee

0.1%

Withdrawal fee

1.4E-5

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


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

General Information

Escodex is a cryptocurrency exchange from Estonia. Estonia is actually the only country in the Baltics that has cryptocurrency exchanges. But there are more than one: Kripomat.ioBTCbear, Jubiter and Crex24 all come from Estonia.

In addition to Ethereum, USDT, Bitcoin, Bitcoin CashBitShares, EOSLogisCoin, Ravencoin and the other cryptocurrencies listed above on this page, this exchange also supports trading in:

Lightpaycoin

Coin2Play

AllSafe

Ourcoin

Ragnarok

Bitcoin Incognito

CottonCoin

We will make sure that the above supported cryptocurrencies are also reflected on this page when we have added them to our own page.

To our knowledge, US-investors may use the Escodex-platform. They are at least not explicitly prohibited from doing so. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.

Escodex also supports masternode coins (ERC20, zerocoin protocol, cryptonight/cryptonite lite/cryptonite classic, omnicore coins), which is not that common among decentralized exchanges. Another advantage against many of the decentralized exchanges on the market is that Escodex supports trading in many BTC-trading pairs. The available trading pairs at the trading platform are the following: BTC/ETH, BTS/BTC, BTC/USDT, BTS/ETH, ETH/USDT, BTS/ESCO, ESCO/BTC, ESCO/USDT, ESCO/ETH, BTS/USDT, BTC/USDT, BTC/EOS and BTC/BCH.

General information on Decentralized Exchanges

Escodex is a decentralized exchange, that’s what “dex” in its name comes from. Decentralized exchanges are becoming increasingly more popular, mostly due to the following factors:

  • They do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins.
  • They normally do not require you to give out personal information. This makes it possible to create an account and right away be able to start trading.
  • Their servers are localized in many different places across the globe leading to a lower risk of server downtime.
  • They are essentially immune to hacker attacks.

As mentioned above, DEXs are becoming very popular. You have probably heard of at least one of the following exchanges (all are decentralized): MercatoxEtherDeltaBiboxBitshares Asset ExchangeWaves DEXBancor NetworkOpenLedger DEXCryptoBridge DEXStellar DEXOasisDEXIDEXToken StoreBisqNxt Asset ExchangeCounterparty DEXBurst Asset ExchangeDDEX, OmniDEXCryptoDerivativesCoinpitAirSwap.ioFcoin ExchangeBarter DEXSwitcheo NetworkDEx.topEthermium.

Escodex Fees

Escodex Trading fees

This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.10%, meaning that both takers and makers pay 0.10% after a trade has been executed.

As you surely know, 0.10% is way below the global industry average. The global industry average is arguably around 0.25%.

Escodex Withdrawal fees

When you withdraw assets from a cryptocurrency exchange, the exchange normally charges withdrawal fees. The withdrawal fee is normally a fixed amount of the type of cryptocurrency withdrawn. Escodex only charges the network fees when you withdraw cryptocurrency assets. This is a competitive fee model indeed.

Escodex is a BitShares-based platform. As such, their withdrawal fees are in line with the BitShares fee protocol. The transfer fee in such protocol is 0.104 BTS, which is roughly 0.000014 Bitcoin. This is extremely low, seeing that 0.0008 BTC is the global industry average BTC-withdrawal fee.

Deposit Methods

Escodex 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 cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!

Security

We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The scale goes from A+ to F (where A+ is the best grade). Only 4 of the 350+ exchanges we list in our Cryptocurrency Exchange List have received an A+, BitMEX, Coinbase Pro, Upbit and CPDAX.

Escodex received a score of D-. However, one should remember that the score in this test is only one of many indicators of the exchange’s security.

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If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.

Good luck!

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