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 TDAX consists of four parts: general information, fees, deposit methods and security.
TDAX (acronym for Thai Digital Asset Exchange Company Limited) is a Thai cryptocurrency exchange. In our cryptocurrency exchange list (being the most comprehensive such list in the world), we only list two cryptocurrency exchanges from Thailand: this one, and BX Thailand.
TDAX was allegedly developed to meet the “trading needs of a growing professional and retail market”. The TDAX Team declares themselves as committed to bringing security, speed and transparency to the market (specifically the Thai market where they seem to think such security, speed and transparency have been absent). The CEO of this exchange is also very experienced, having created ZCoin (XZC), Vertcoin (VTC) and Satan (one of the more popular Bitcoin Social Wallets in Thailand).
TDAX 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.
TDAX Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers “makers” because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
EXAMPLE: Ingvar, offering to buy 1 BTC for USD 10,000. And Jeff, offering to sell 1 BTC for USD 11,000. If Bill comes along, and sells 1 BTC to Ingvar for USD 10,000, he takes away Ingvar’s order from the order book. Bill is here a taker and will be charged the taker fee. If Bill on the other hand would have offered to sell 1 BTC for USD 10,500, he would have placed an order on the order book that did not correspond to an existing order. He would thus have been a maker of liquidity. If someone would have accepted to buy 1 BTC from Bill for USD 10,500, then Bill would have been charged the maker fee (usually a bit lower than the taker fee) and the relevant buyer would have been charged the taker fee.
TDAX doesn’t charge different fees between takers and makers. Their fee model is instead something we call a “flat fee model”. TDAX’s flat fee is 0.25%. This is perfectly in line with industry average.
TDAX Withdrawal fees
TDAX charges a withdrawal fee amounting to 0.002 BTC when you withdraw BTC. This is in line with industry average. You should note here though that BX Thailand’s withdrawal fee when withdrawing BTC is four times lower (only 0.0005 BTC).
TDAX offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
However, as TDAX accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies.
With respect to deposit processing time, deposits from Thai bank accounts usually take up to 24 hours. This is a quick process. If you hold your bank account with a non-Thai bank, it can take up to 7 days, but could also be a lot quicker. Cryptocurrency deposits are more swift (as always). Usually just 1-2 hours, but depending upon the blockchain network used.
TDAX’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
The exchange reviewed above is 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):