US investors permitted
MixCoins – Detailed 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 MixCoins consists of four parts: general information, fees, deposit methods and security.
MixCoins is a cryptocurrency exchange from the United Kingdom. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, Paybis, Vaultoro, Instant Bitex and eToro.
To our knowledge, US-investors may trade at this exchange but – as always – American cryptocurrency investors should always do their own analysis of their eligibility. It could be so that their respective home states have something to say about their foreign cryptocurrency trading.
At this exchange, you can trade BTC, BCH, ETH and LSK. As for fiat currencies, you can deposit CNY or USD. Consequently, you can’t buy or sell any of the smaller cryptocurrencies (Tokenstars Coin, Transcodium Coin, Taler Coin, Triggers Coin, ZCCoin, or any cryptocurrency with a similar market capitalization to those). If you seek to buy or sell any of those, you must choose another exchange.
MixCoins’s trading fees for takers are 0.25%. This fee is in line with industry average. With respect to makers, MixCoin offers a helpful discount so that the makers do not have to pay more than 0.15%.
Finally, it should be noted that many exchanges have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. This exchange does not offer such volume based discounts on the trading fees. However, it does offer such volume based discounts on the fiat currency withdrawal fees.
MixCoins does not charge any withdrawal fees at all for withdrawing BTC. This is a very strong competitive edge in the market and really distinguishes MixCoins from most other top crypto exchanges.
For fiat currency withdrawals, however, they range from 0.40% – 0.25% for CNY-withdrawals (the bigger trading volume you have had on the exchange, the lower the fee). For USD-withdrawals, the withdrawal fee is fixed at 1.50%. Also, each USD-withdrawal comes with a “bank processing fee” of USD 20.
MixCoins offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Exchanges handle of course a lot of cash or coin deposits and withdrawals.
MixCoins’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges and might be a factor making you conclude that MixCoins is the best cryptocurrency exchange site for you.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.