What is StealthEX?
StealthEX is an instant crypto platform registered in the Marshall Islands. It launched in 2018.
The platform has a straight-forward and easy feeling and you can exchange cryptocurrencies as well as buy crypto for fiat. StealthEX was created with the main idea to make the exchange process simple and without any complications like signing up.
Integration into Other Exchanges
The StealthEX trading system is integrated into four other cryptocurrency exchanges (Binance, Huobi, KuCoin and HitBTC). We feel that this choice of other exchanges is quite remarkable. The first three (Binance, Huobi and KuCoin) are three of the world's largest cryptocurrency exchanges, with a very solid reputation. The last one - HitBTC - is much smaller and is generally thought of as being a very shady platform.
At StealthEX there is no deposit storage, only instant coin exchanges. This means that StealthEX can find the most profitable exchange rates (among the four now mentioned) for their customers in a very short time.
StealthEX Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that StealthEX’s trading platform is also mobile compatible, but not through an app, but through a Telegram Bot. To our knowledge, this platform is the only platform that has this type of solution. Exciting!
StealthEX 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 purchase interface at StealthEX is in our opinion very easy to understand if you’re new to crypto, yet it might not offer all the advanced buy/sell features more experienced traders might look for. It is, however, effective and intuitive. Here’s a peek at StealthEX’s interface:
StealthEX Trading fees
This particular platform offers you the opportunity to swiftly and securely buy or sell crypto. This means that there are no charting tools, no order books, or anything like that. The trading view is the purchase interface included above in this review.
When buying at the platform, the purchase price offered by StealthEX will be higher than the market price. Conversely, when selling to the platform, the purchase price offered will be lower than the market price. The mark-up or mark-down is not specified anywhere. On the date of first writing this review (26 November 2021), we made a calculation by comparing the prices offered by StealthEX to the market prices listed by Coinmarketcap.com (for 1 BTC exchanged to ETH). These were the results:
Floating Rate Mark-up: 1.80%
We were not able to obtain any information on the Fixed Rate Mark-up.
For comparison purposes in our Exchange List, we have used the floating rate mark-up as the taker and maker fee in our database. Please be advised though that part of the fees listed above consist of the trading fees charged by the relevant liquidity provider that StealthEX uses when executing your order.
It is difficult to compare the fees charged by StealthEX with the industry average trading fee at a regular centralized exchange (0.221% for takers and 0.178% for makers, according to this report), seeing as they offer another type of service than most centralized exchanges do. But to conclude on the trading fees, there are definitely cheaper ways to obtain crypto than through using the StealthEX platform. StealthEX's advantages are speed and convenience, rather than price.
StealthEX Withdrawal fees
StealthEX doesn’t charge any additional fees for withdrawals, seeing that they never hold any cryptocurrencies to begin with. They are an instant exchange, and the cryptos you do purchase are purchased from other exchanges (Binance, Kraken, Huobi etc.).
However, there are always network fees involved with transferring crypto, which is why we have listed the network fees under the withdrawal fee section of this exchange.
Deposit Methods and US-investors
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
StealthEX says that seeing as there is no verification performed at the platform, US-investors are also permitted to use the StealthEX. We do however urge any US-investors to perform their own analysis of the eligbility of their trading at this platform.
This platform is an entry-level exchange, meaning that it is one alternative for people who would like to enter the cryptocurrency market and does not have any cryptocurrency assets to begin with. Apparently both wire transfer deposits and credit card deposits are available, according to one person we have been in contact with at StealthEX.