A crypto guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Exolix consists of four parts: general info, fees, deposit methods and security.
Exolix is an exchange from Estonia (previously Hong Kongo) that launched in 2018. It is currently only available in the English language.
The exchange itself states the following factors as advantages with the platform.
We'll let you decide which of these factors that are most attractive to you, but we do note a clear focus from the exchange on anonymity and the absence of registration requirements.
Exolix has 2 options for their users who have signed up to their affiliate program:
1. API - Integration of exchange flow. The Exolix-user implements the exchange's API into its system and starts earning from their referred users’ exchanges.
2. Referral links and banners - The Exolix-user shares the exchange's service link or banner with their audience and receives profit in BTC from every referrals’ transaction.
Everytime when a user clicks on a banner/referral link or uses Exolix’ API and makes a transaction, the partner gets paid. Depending on the volume of transactions made, the partner could earn from 0.5% to 0.7% from each transaction. Every partner has a personal account on our website where the partner can track the number of transactions, volume and BTC earned from each transaction.
Exolix 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 crypto 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 see that it feels right to you. This is the purchase interface at Exolix:
This purchase interface is straight-forward and to the point, which makes it easily understandable for newer crypto investors. However, it might lack a few of the features that more experienced traders require. We'll let you decide for yourself.
Exolix Trading fees
This particular platform is offers you the opportunity to swiftly and securely buy or sell crypto. This means that there are no charting tools, no order books, or anything like that. The trading view is the purchase interface included above in this review.
When buying at the platform, the purchase price offered by Exolix will be higher than the market price. Conversely, when selling to the platform, the purchase price offered will be lower than the market price. The mark-up or mark-down is not specified anywhere. On the date of last updating this review (29 December 2020), we made a calculation by comparing the prices offered by Exolix to the market prices listed by Coinmarketcap.com. The comparison showed that Exolix's prices were 1.93% higher/lower than Coinmarketcap's market price.
For comparison purposes in our Exchange List, we have used that mark-up/mark-down as the taker and maker fee in our database.
It is difficult to compare the fees charged by Exolix with the industry average trading fee at a regular centralized exchange (0.213% for takers and 0.16% for makers), seeing as they offer another type of service than most centralized exchanges do. But to conclude on the trading fees, there are definitely cheaper ways to obtain crypto than through using the Exolix platform. Exolix's advantages are speed and convenience, rather than price.
Exolix Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. We currently see more and more changes that have started charging 0.0005 BTC per withdrawal. 0.0005 BTC is thus establishing itself as the new industry average.
Here, at Exolix, you only have to pay the network fees, meaning the fees that miners receive to confirm transactions. Only charging network fees is very competitive and the exchange itself does not profit from these.
Deposit Methods and US-investors
Exolix does not accept any other deposit method than cryptos, so new investors are restricted from trading here. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange. But, to find an exchange where you can deposit fiat currency easy, just use our Exchange Filters and we’ll help you through it.
According to information from the exchange to us here at Cryptowisser, US-investors are indeed permitted to trade here. If you are a US-investor, however, you should still always analyse yourself whether your home state imposes any obstacles for your foreign cryptocurrency trading.