A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Hydax consists of four parts: general info, fees, deposit methods and security.
Hydax is a crypto exchange that launched in 2019. We’re not 100% sure on where Hydax is from but we believe it is from Vietnam. The only other two exchanges that we have listed in our Exchange List are VinDAX and Trustdex.
The platform describes itself as a “safe, trustworthy and innovative” crypto exchange, with the capacity to process “millions of transactions at the same time”.
This exchange is not open to people from the US. If you are a resident or citizen of the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an exchange accepting investors like you.
Mobile Support Etc.
As most other crypto exchanges, Hydax also offers its trading platform in mobile format for both iPhones and Android phones. Statistically, most people do their crypto trading via desktop computer, but if you prefer to do it while on your mobile you can easily do so here.
This platform also has an OTC-function where you can purchase crypto from other users. You then respond to their advertisements to sell or buy crypto. Payment is possible via Bank Card, Alipay or WeChat Pay.
Hydax 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 par<t 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. The below is a picture of the trading view at Hydax:
Hydax Trading fees
This trading platform doesn’t charge different fees between takers and makers. Instead, the exchange has a so called “flat” fee model. They offer a flat trading fee of 0.20%. The global industry average has for a long time arguably been 0.25%. Today, however, we are seeing more and more exchanges moving to lower trading fees. Examples of lower such fees is 0.10% and 0.15%. New industry averages are accordingly being established. But for now, the trading fees at Hydax are competitive enough.
Hydax Withdrawal fees
There are exchanges out there that charge low trading fees but then hit you on your way out with high withdrawal fees. This exchange, however, only charges the network fees when you do a transaction. At least that’s how we have understood it, but we have not been able to find clear info on this anywhere on the exchange’s website.
The global industry BTC-withdrawal fee is 0.000812 BTC per withdrawal. The network fees vary from day to day but are roughly 50% of the global industry average BTC-withdrawal fee.
At this exchange, they do not accept any deposits of fiat currency to the actual exchange. However, to the OTC-function, you can purchase crypto from other people advertising sales. The available purchase methods in the OTC-function are bank card, Alipay or WeChat Pay.
If you prefer to deposit fiat currency and you don’t want to use an OTC-function or any of the available deposit methods mentioned above, you need another exchange. You can find one by using our Exchange Finder.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Hydax received a D-score in this test. A D-score is actually quite OK, especially considering that F is the Mozilla Observatory-score received by most exchanges in our Exchange List.
The platform also promotes as one of its main strengths that it has multiple distributed nodes, strong risk control models and, finally, separated cold and hot wallets.
We hope you have enjoyed reading the above review. We also recommend checking out the following exchanges. They are well established in the industry and have also received great ratings from the visitors on our site: