24H Volume

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IDAX

2 from 2 votes
Mongolia

Fees

Taker fee

0.2%

Maker fee

0.2%

Withdrawal fee

0.0001

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


IDAX Review

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 IDAX consists of four parts: general information, fees, deposit methods and security.

General Information

IDAX is the only Mongolian cryptocurrency exchange that we have listed in our Cryptocurrency Exchange List. It launched in December 2017.

The exchange has an impressive selection of altcoin trading pairs, many of which are difficult to find elsewhere.

Additionally, the liquidity at this exchange is remarkably deep (meaning “good”). At the date of writing this review (29 September 2018), the 24 hour volume was USD 250 million making IDAX the 12th biggest exchange in the world.

This exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.

IDAX Fees

IDAX Trading fees

This Mongolian exchange charges both takers and makers a flat trading fee of 0.20%. This is in line with both the global industry average, and the national industry average of its neighbouring countries Russia and China.

IDAX Withdrawal fees

There are exchanges out there that have comparatively low trading fees but then make their profits by charging users hefty withdrawal fees. IDAX is not one of those exchanges. IDAX withdrawal fee is 0.0001 BTC when withdrawing BTC. This is lower than the global industry average.

Deposit Methods

At this exchange, they do not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!

Security

The security score of this cryptocurrency exchange is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.

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If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.

Good luck!

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