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 Rippex consists of four parts: general information, fees, deposit methods and security.
PLEASE NOTE THAT THIS CRYPTOCURRENCY EXCHANGE IS PERMANENTLY CLOSED. THE WEBSITE HAS THE FOLLOWING ANNOUNCEMENT IN PORTUGUES:
TO FIND ANOTHER EXCHANGE THAT CORRESPONDS TO YOUR REQUIREMENTS, PLEASE USE THE EXCHANGE FINDER.
Rippex is one of the Brazilian cryptocurrency exchanges.
Rippex 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. In a worst-case scenario, they may not be able to trade at one or several exchanges that could otherwise be the best cryptocurrency exchange site for them.
This exchange only offers trading in Ripple.
Rippex Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.30%. 0.30% is slightly above the global industry average (0.25%).
Rippex 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.
Not this exchange though. This exchange only charges a withdrawal fee amounting to 0.0009 BTC when you withdraw BTC. This fee is below the industry average and constitutes somewhat of an advantage against many other top crypto exchanges in the market.
This trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card.
Rippex’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/was 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):