RDAX 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 RDAX Exchange consists of four parts: general information, fees, deposit methods and security.
UPDATE 1 SEPTEMBER 2019: This exchange no longer seems to be in operation. When trying to access the domain, you receive a 502-Error (Bad Gateway). We will monitor the situation and provide updates here as soon as we have any.
RDAX Crypto Exchange is a trading platform for blockchain assets specifically tailored for the high net worth retail trader. RDAX.io is a “Retail Digital Asset Exchange” allowing for easy transaction between Bitcoin, Ethereum, Litecoin, Monero, Ripple, EOS, Tron, STO’s and ICO’s
RDAX Exchange is a Maltese cryptocurrency exchange. Malta has recently grown big with respect to cryptocurrency exchange registrations. The country is – together with Estonia – the most crypto-friendly country in Europe with a clear licensing framework for cryptocurrency exchanges that wish to obtain an exchange license. Other cryptocurrency exchanges registered in Malta include Changelly, Graviex, Bleutrade, Coindeal and The Rock Trading.
There is not much information on the website of the exchange about the team or company behind the exchange. When looking at Crunchbase however, we find that there are two founders of the platform: Patrick Turner and someone with the initials D T. The exchange’s Crunchbase Profile is available here.
The platform is available in seven languages: English, Spanish, Dutch, German, Portuguese, Russian and Vietnamese.
On the date of last updating this review (19 July 2019), the exchange allegedly had a 24 hour trading volume of USD 6,396,640. This liquidity is decent, but not overly impressive either.
RDAX Exchange also has a place on its website they call System Health. This shows the status of various cryptocurrencies on the platform (including how many confirmations that are required to process a transfer). This is how it is displayed on the site:
RDAX Exchange Trading View
Different exchanges have different trading views. 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 cryptocurrency 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 ascertain that it feels right to you. The below is a picture of the trading view at RDAX Exchange:
US-investors may trade at this exchange, but only “subject to completing KYC-procedures”. Any investors from the USA should still do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that would otherwise be the best choice for them.
RDAX Exchange Fees
RDAX Exchange Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange is different in the way that it doesn’t separate between takers and makers. Rather, it separates between buyers and sellers. As you know, takers can be both buyers and sellers which is why this exchange’s solution is a bit different. The exchange charges buyers 0.01% and sellers 0.02%. These fees are extremely competitive. One might even think they sound too good to be true for a centralized exchange…
RDAX Exchange Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of the cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency.
The global industry average BTC-withdrawal fee is 0.000812 BTC. At RDAX Exchange, withdrawals are free. Even if the withdrawal fees are normally that big, we still really like RDAX Exchange’s offering here and we think it’s competitive and very consumer friendly.
RDAX Exchange does not accept any deposits of fiat currency. This means that the new cryptocurrency investors (i.e., the investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange that also accepts deposits of fiat currency. Find one by using our Exchange Finder!
RDAX Exchange Security
Finally, we run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. RDAX Exchange received an F-score in this test. When looking at all the exchanges in our Cryptocurrency Exchange List, the majority of all exchanges actually receive an F-score. So it shouldn’t lead you to believe that the exchange necessarily has poor security.
We hope you have enjoyed reading the above review. We also recommend checking out the following exchanges. They are well established in the industry and have also received strong ratings from the visitors on our site: