InfinityCoin Exchange 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 InfinityCoin Exchange consists of four parts: general information, fees, deposit methods and security.
InfinityCoin Exchange is a cryptocurrency exchange registered in the British Virgin Islands. It offers trading in two cryptocurrencies: BTC and (not surprisingly) the InfinityCoin (XIN). It is not the only exchange registered in the British Virgin Islands, also the very prominent derivatives exchange Bybit is registered here.
About Infinity Coin, the exchange itself writes:
“Infinity is a new digital currency that allows individuals to make fast and secure transactions through a decentralised peer-to-peer network. It’s digital cash, so any and all transactions are completely anonymous and without the need for bank or transfer fees. Accessible to everyone, it’s easy to use and available today: http://infinity-economics.org/. Through the use of advanced cryptography and encryption methods, we have managed to make Infinity coin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.”
You can’t buy or sell any of the other smaller cryptocurrencies here though (The GCC Coin, Transcodium Coin, Truckcoin, Ultracoin, Woodcoin, or any cryptocurrency with a similar market capitalization to those). So, if you seek to buy or sell any of those, you’ll have to choose another exchange.
This trading platform does not prohibit US-investors from trading, but US-investors should still do their own independent assessment of any problems arising from their residency or citizenship.
InfinityCoin Exchange Fees
InfinityCoin Exchange Trading fees
Here, they don’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”.
The flat fee set by this exchange is 2.00%. This is about ten times higher than the industry average (the industry average is arguably around 0.25%). You should carefully consider whether InfinityCoin Exchange has a strong offering in other respects that outweighs the disadvantage of this substantially higher trading fee.
InfinityCoin Exchange Withdrawal fees
InfinityCoin Exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average.
This trading venue does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here.
InfinityCoin Exchange Security
InfinityCoin Exchange’s security score 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.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: