Fees

Taker fee

0.20%

Maker fee

0.20%

Withdrawal fee

Bitcoin Logo 0.04

Funding methods

Wire Transfer

Yes

Credit Card

Cross

Crypto

Yes

US Investors Permitted

Yes

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

General Information

SouthXchange is an Argentinian cryptocurrency exchange. While there are many cryptocurrency exchanges from Brazil (Bleutrade, for instance), we only know of one from Argentina (this one).

SouthXchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that 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.

PRO-Systems created and manages this exchange. PRO-Systems is a company incorporated under the laws of Argentina. It is allegedly a team of “highly trained software engineers” that operates the exchange. It has been involved with cryptocurrencies since 2012. This exchange platform is – according to PRO-Systems – created to be secure, simple and usable.

SouthXchange Fees

SouthXchange Trading fees

This Argentinian trading venue doesn’t charge different fees between takers and makers. Their fee model is instead a “flat fee model”. Their flat fee is 0.20%. This is in line with global industry average and compared to its South American peers, the fee is on the low-end (thus constituting a competitive advantage).

SouthXchange Withdrawal fees

The withdrawal fees at this exchange are somewhat mysterious. The exchange charges a withdrawal fee amounting to 0.04% when you withdraw BTC, but only BTC.

If you withdraw any other cryptocurrency, the exchange charges a fixed fee instead (which is more market standard).

In addition to this exchange, only the following have percentage based withdrawal fees (from lowest to highest): FatBTC (0.05%), Digax (0.10%), ExcambioRex (0.10%), Gocio (0.10%), BitINKA (0.15%), RippleFox (0.20%), OOOBTC (0.50%), BCEX (0.50%), DOBI Trade (0.50%), iCE3X (0.50%), LEOxChange (1.00%), Trustdex (1.00%) and FreiExchange (2.00%).

Percentage based withdrawal fees can be both good and bad. When you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.000004 BTC (very low, relative to market standards). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.004 BTC (very high, relative to market standards). Please consider whether this withdrawal fee suits your own trading or not. You should also note here that by year-end 2017, SouthXchange’s percentage based BTC-withdrawal fee was 0.19% (i.e. almost five times higher than it is today).

Deposit Methods

This trading venue offers wire transfer as a deposit method, but you can’t deposit via credit card.

SouthXchange Security

SouthXchange’s security score is B-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges. Good work SouthXchange!

***

There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes 10 such exchanges with very impressive security scores:

  1. Paxful
  2. Bitflip
  3. Paybis
  4. Cryptology
  5. Bitonic
  6. HitBTC
  7. BX Thailand
  8. Coindeal
  9. Gatehub
  10. Poloniex

SouthXchange Review - Cryptowisser Logo