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IncoreX

3 from 2 vote[s]
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Fees

Taker fee

0.10%

Maker fee

0.00%

Withdrawal fee

Bitcoin Logo 0.0005

Funding methods

Wire Transfer

Yes

Credit Card

Yes

Crypto

Yes

US Investors Permitted

Yes

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IncoreX Review

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 IncoreX consists of four parts: general info, fees, deposit methods and security.

General Info

IncoreX is an exchange registered in Estonia with an exchange license from the Estonian authorities. It launched in 2018.

As you surely know, the Baltic region consists of three countries: Estonia, Latvia and Lithuania. With this in mind, it might seem odd that out of these three countries, only Estonia is the home of any exchanges. The likely explanation for this however is that Estonia has a license you can obtain in order to conduct crypto exchange operations as an Estonian company. To our knowledge, there are only two other nations in Europe that have a clear specific legislation on this like Estonia has: Malta and Gibraltar.

IncoreX Pitch

As far as we can tell, investors from USA can trade there. Any US-investors that want to trade here should in any event form their own opinion on any issues arising from them being from the US.

The exchange lists six things as the main advantages of the platform. These six things are security, variety of payment methods, fast transactions, high referral payments, dedicated support staff and low trading fees. These things are all important in our opinion and it remains to be seen if this exchange can be true to their promise.

Inc Advantages

Team

IncoreX also has information on its website about the team running the exchange. This is somewhat comforting to us, seeing that any exchange that were looking to scam investors would most likely not provide info on the team members behind the exchange. Sure, IncoreX only provides names, titles and pictures, but it is still better than nothing. Here they are:

IncoreX Team

IncoreX Trading View

At an exchange, there is always a trading view. 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 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. This is the trading view at IncoreX:

IncoreX Trading View

IncoreX Fees

IncoreX Trading fees

An important thing to keep in mind when picking a crypto exchange is that you must always check the fees.

This exchange’s trading fees for takers are 0.10%. This fee is a bit below the industry average. The industry average is arguably around 0.25%. Also, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a strong edge in the market!

For a long time, industry average has been around 0.25%. But today, we see a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead, just like IncoreX. To summarize, this exchange charges taker fees that are in line with or below the global industry average and their maker fees are far below the industry average.

IncoreX Withdrawal fees

IncoreX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. IncoreX’s withdrawal fees are thus roughly 40% lower than industry average.

All in all, the fees at IncoreX are competitive indeed.

Deposit Methods

At IncoreX, you can deposit in essentially any way you want. Wire transfer and credit cards included (including AdvCash). This can be helpful especially for newer crypto investors. The fact that fiat currency deposits are enabled here makes this exchange an “entry-level exchange”. Fiat currencies possible to deposit are however limited to the USD, the EUR and the RUB.

IncoreX Security

We run all the exchange sites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. IncoreX received a score of D- in this test. This should however be viewed in light of the fact that the majority of all exchanges in our Exchange List receive an F-score in this test.

***

Finally, 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 crypto market with fiat currency. There are many entry-level exchanges out there, including (but not limited to):

  1. PrimeXBT
  2. Simex
  3. BaseFEX
  4. Currency.com
  5. CEX.io
  6. Changelly
  7. Crex24
  8. Binance
  9. Bittylicious
  10. Coinmate

IncoreX Review - Cryptowisser Logo

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