US investors permitted
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 Rfinex consists of four parts: general information, fees, deposit methods and security.
Rfinex is a cryptocurrency exchange based in 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, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
Rfinex launched in January 2017.
It has a selection of trading pairs that is different to that of many other cryptocurrency exchanges. Many cryptocurrencies supported here are somewhat less known.
On the date of writing this review (11 January 2019), the 24 hour trading volume of Rfinex was USD 482,000, putting it on place 155 on the list of the cryptocurrency exchanges in the world rated after 24 hour trading volume. This means that liquidity could definitely be improved.
If you’re a US-investor interested in trading here, you’re out of luck. Rfinex does not accept US-investors on its platform. Don’t be too sad though, if you’re a US-investor, you can always use our Exchange Finder to find out which trading platforms that you are allowed to trade at.
Rfines Trading Fees
The trading fees at Rfinex are 0.10% per trade. This means that the exchange does not distinguish between takers and makers. 0.10% per order is a competitive trading fee, substantially below the global industry average trading fees (arguably 0.25%). The trading fees are thus a competitive edge for this exchange.
Rfinex Withdrawal Fees
We have not been able to find any information on the withdrawal fees charged by Rfinex. This is always a risk for you as an investor. Accordingly, we urge you to – prior to depositing any funds at Rfinex – also conclude on the withdrawal fees and whether they are reasonable or not. The industry average BTC-withdrawal fee is 0.000812 BTC per withdrawal, but this average fee gives little guidance in this case seeing as Rfinex does not support trading in BTC. With respect to ETH, there are too few data points to establish a clear industry average withdrawal fee. However, anything below 0.005 is acceptable.
This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading at this trading platform, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. Don’t worry though, we will help you find an exchange where you can purchase your first cryptos by the help of our Exchange Finder. Do the test there now and you will see what alternatives you have.
We run all 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. This exchange only received an F-score in this test. This is below industry average and is thus not a competitive advantage for Rfinex.
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: