24H Volume

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RuDEX

4.8 from 4 votes
Russia

Fees

Taker fee

0.05%

Maker fee

0.05%

Withdrawal fee

0.0005

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


RuDEX 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 RuDEX consists of four parts: general information, fees, deposit methods and security.

General Information

RuDEX is a decentralized exchange based in Mother Russia. It launched in April 2017. Russia has a fair share of coin exchanges. The list includes YoBitTidexC-CEXNIX-ECash2PMCryptex24GocioImexchangerSimexGraviex and – of course – this exchange.

We assume that the name of the exchange comes from “Ru” as in “Russia”, and DEX as in “Decentralized Exchange”. Decentralized exchanges are becoming increasingly more popular, mostly due to the following factors:

  • They 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.
  • They normally do not require you to give out personal information. This makes it possible to create an account and right away be able to start trading. RuDEX also states on their website that you can be anonymous here.
  • Their servers spread out across the globe leading to a lower risk of server downtime.
  • They are essentially immune to hacker attacks.

However, decentralized exchanges normally have an order book with lower liquidity than their centralized counterparts and if you lose your password, it is probably lost forever. The lower liquidity issue is prevalent also for this exchange. On the date of writing this review (5 November 2018), the 24 hour trading volume was USD 28 (twenty eight dollars)…

Another advantage with the RuDEX exchange is that you can execute the trades you make instantly, within 3 seconds according to information on the website.

As far as we can tell based upon the information we have obtained, US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.

RuDEX Fees

RuDEX Trading fees

The trading fees here are very low (0.05% for BTC, ETH, DGB, PPC and GRC and 0.00% + Bitshare-fees for all other cryptocurrencies). This is extremely competitive seeing as the global industry average is 0.25%. This means that RuDEX’s trading fees are (at worst) five times lower than the global industry average.

RuDEX Withdrawal fees

Certain exchanges have low trading fees and get their profit through high withdrawal fees instead. Not RuDEX, though. RuDEX only charges 0.0005 BTC when you withdraw BTC. While this is not a market-record, it is almost 40% lower than the global industry average (being 0.0008 BTC). Good work, RuDEX!

Deposit Methods

Fiat currency deposits are not allowed here, so if you’re looking for an exchange where you can deposit fiat currency, this is not the one. This also means that new cryptocurrency investors (i.e., 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 accepting deposits of fiat currency. Find one by using our Exchange Finder!

Security

RuDEX has an average security score. We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and RuDEX received a C- score. This is definitely decent, but there is also room for improvement.

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If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.

Good luck!

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