UPDATE 1 October 2021: When trying to access the website of Hydax today, we were unsuccessful. There have been no preceding messages on system maintenance or new websites or anything similar, and the problem has remained since 1 September 2021.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
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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 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 also offers contract trading. With respect to their contract trading, takers are charged 0.06% and makers pay 0.02%. According to the latest empirical study on the subject, the industry average contract taker fees were 0.063% and the industry average contract maker fees were 0.018%. Consequently, Hydax's contract trading fees are below the industry average for takers but slightly above for makers.
Hydax Withdrawal fees
To our understanding, Hydax does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure.
Generally speaking, to only have to pay the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals.
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.
The platform promotes as one of its main strengths that it has multiple distributed nodes, strong risk control models and, finally, separated cold and hot wallets.