US investors permitted
OpenLedger DEX 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 OpenLedger DEX consists of four parts: general information, fees, deposit methods and security.
OpenLedger DEX is a so called “decentralized exchange”. Decentralized exchanges are becoming increasingly more popular. They are definitely gaining market shares against their centralized counterparts. One decentralized exchange that has grown very big lately and that you should also check out is Mercatox.
Decentralized exchanges do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins. Decentralized exchanges normally do not require you to give out personal information either. This makes it possible to create an account and right away be able to start trading. The servers of decentralized exchanges spread out across the globe leading to a lower risk of server downtime. However, decentralized exchanges as opposed to regular top crypto exchanges normally have an order book with lower liquidity than the regular top crypto exchanges.
As OpenLedger DEX is a decentralized exchange, it does not prohibit investors from certain jurisdictions, such as the USA. US-investors should still do their own independent assessment of any problems arising from their residency or citizenship.
OpenLedger DEX prides itself with having an intuitive interface to help both newcomers and professionals make the most of their exchange. They also state on their website that they have a BitShares-based system that handles as much as 100,000 transactions per second (by far more than both Bitcoin and Ethereum).
OpenLedger DEX Fees
OpenLedger DEX Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. OpenLedger DEX offers a flat trading fee of 0.20%.
This fee is slightly below the industry average (arguably around 0.25%).
OpenLedger DEX Withdrawal fees
OpenLedger DEX charges a withdrawal fee amounting to 0.0009 when you withdraw BTC. This fee is below the industry average and constitutes a competitive advantage against the majority of other top crypto exchanges in the market.
This cryptocurrency exchange offers wire transfer as a deposit method, but you can’t deposit via credit card.
OpenLedger DEX Security
OpenLedger DEX’s security score is C, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
Finally, as mentioned above, this is a decentralized exchange. Decentralized exchanges are still a minority on the cryptocurrency exchange market, with the centralized exchanges still dominating the field (mostly due to better liquidity). In any event, if you’re looking for a decentralized exchange, you could also check out the following quite popular ones: