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 NIX-E consists of four parts: general information, fees, deposit methods and security.
NIX-E is one of the 8 Russian cryptocurrency exchanges we have listed in our cryptocurrency exchange list. The most popular Russian cryptocurrency exchange at the time of writing this review (and thus NiX-E’s biggest competitor) is YoBit.
This cryptocurrency exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
NIX-E Trading fees
This Russian crypto trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee model is actually quite low: 0.10%. This fee is below the industry average which is arguably around 0.25%. The fee thus constitutes a competitive advantage against other top crypto exchanges.
NIX-E Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
We have not been able to find any information on this exchange’s withdrawal fees. This is potentially a great risk for you as an investor (if they are not informed of anywhere we believe there is a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of the withdrawal fees at this exchange before depositing any funds here and before concluding that it is the best cryptocurrency exchange site for you.
NIX-E offers wire transfer as a deposit method, but you can’t deposit via credit card. When doing a wire transfer, you need to use a specific payment service provider like www.nixexchange.com.
NIX-E’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.
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 cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):