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 ICOCryptex consists of four parts: general information, fees, deposit methods and security.
UPDATE 17 July 2019: We feel that there is something odd with this exchange. After asking us to add it in our Cryptocurrency Exchange List, we have not been able to come in contact with them. They claim to be 100% Dutch, but still their Dutch is quite poor when communicating with other Dutch people on Bitcointalk. With respect to cold storage, they say that they have 99% of all assets in cold storage, which is an unusually high percentage. Almost too good to be true. They are very much focusing on pushing their registration bonus on their website. In our opinion substantially more than what an honest exchange would:
All in all, we would at this stage urge users to refrain from starting an account here. Something’s not right. If you have any more information on this exchange, please contact us.
ICOCryptex is a cryptocurrency exchange based in the Netherlands, or the city of Nijmegen to be specific. It opened up its door on 22 May 2018.
The company behind the exchange is Isatis Blockchain Tech (company registration number 69622051).
Netherlands, the home of Gouda cheese and tulips, is also the home of many cryptocurrency exchanges. There are too many to mention them all here, but the list includes LiteBit.eu, Bitonic and Bitrush.
US-investors may not trade here. The reason for excluding US-investors are primarily regulatory reasons. The US-legal regime imposes obligations on many companies accepting funds from US-investors. Don’t be too sad though, there are other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
The exchange is currently running a campaign where they give any new accounts a USD 25 registration bonus (without requiring any initial deposits). This is somewhat unusual in the cryptocurrency exchange world, but quite common among online casinos. The qualifications are that you need to execute at least 50 trades and have a trading volume equal to or exceeding 5 BTC, in order to withdraw the registration bonus. Also these qualifications are similar to how online casinos operate.
ICOCryptex 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 ICOCryptex:
ICOCryptex Trading fees
There are a number of top crypto exchanges who don’t charge different fees between the takers and the makers. Usually, you say that such exchanges’ trading fees are “flat”. ICOCryptex is one of those exchanges. It offers a flat trading fee of 0.15%. The exchange does accordingly not distinguish between takers and makers. The flat fee of 0.15% is below the industry average. The industry average is arguably around 0.25%.
ICOCryptex Withdrawal fees
This exchange only charges the network fee when you make a withdrawal and does not charge anything on top of the network fees. The global industry average for BTC-withdrawals is 0.000812 (roughly five times higher than the network fees). Accordingly, ICOCryptex has a very competitive offering with respect to their withdrawal fees.
This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at this exchange. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange. Then, as a second step, you can deposit them at ICOCryptex. To find an exchange accepting purchases with fiat currency (regular money), just use our Exchange Finder. The rest is easy!
This exchange’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above industry average when it comes to cryptocurrency exchanges. The majority of cryptocurrency exchanges in our Cryptocurrency Exchange List actually only receives an F when running the Observatory-test.
The exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: