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 iCE3X consists of four parts: general information, fees, deposit methods and security.
iCE3X (also known as iceCUBED exchange or iceCUBED bitcoin exchange) is a cryptocurrency exchange from South Africa. To our knowledge, iCE3X are US-investor friendly meaning that they do not prohibit US-investors from trading. US-investors should as always still do their own independent assessment of any problems arising from their residency or citizenship.
iCE3X also states that the platform is designed to fit the screens of all popular devices such as tablets, smart phones and regular computers. You can test it by resizing your browser window. This can of course be an advantage if you prefer to do your trading on anything other than desktop. Also, the exchange promises that it is carefully developed to look “sharp” with new generation HiDPI /Retina devices.
iCE3X 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 ICE3X (trading mode):
iCE3X Trading fees
This trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. The flat trading fee is 0.50%.
0.50% is roughly twice the global industry average. The global industry average is arguably around 0.25%. Any prospective investor should consider whether this exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.
Many exchanges also have volume based discounts on their trading fees, meaning that if you trade above a certain volume each month/year, you receive trading fee discounts. iCE3X has this as well. If your monthly trading volume exceeds 1 BTC, your trading fees will be 0.35% flat. If your monthly trading volume exceeds 100 BTC, you trading fees will be 0.25% flat.
iCE3X Withdrawal fees
iCE3X has a percentage based withdrawal fee. This means that they charge you a percentage of the withdrawn amount when you want to withdraw. Their percentage charged is 0.50%. They also have minimum withdrawal amounts, but these vary from cryptocurrency to cryptocurrency. For Bitcoin, the minimum withdrawal amount is 0.0006 BTC.
This is an unusual withdrawal fee model, but it is not unheard of. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount. In addition to this exchange, only the following have percentage based withdrawal fees (from lowest to highest): SouthXchange (0.04%), FatBTC (0.05%), Digax (0.10%), ExcambioRex (0.10%), BitINKA (0.15%), RippleFox (0.20%), OOOBTC (0.50%), BCEX (0.50%), DOBI Trade (0.50%), LEOxChange (1.00%) and Trustdex (1.00%).
With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.00005 BTC (extremely low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.05 BTC (extremely high). Each investor should consider whether this withdrawal fee model would be appropriate for them based on their own individual circumstances.
Here, you can deposit through both wire transfer if you are from South Africa or Nigeria. This can be helpful particularly for newer crypto investors.
- a fully implemented two-factor authentication system in place;
- checks and balances in place that flag suspicious transaction (internal staff when checks such suspicious transactions manually); and
- regular updates every few months which includes security upgrades.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):