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 Tidex consists of four parts: general information, fees, deposit methods and security.
Tidex is an exchange registered in the tropical wonderland of Cayman Islands, launched in January 2019. There are a few other cryptocurrency exchanges registered here as well, including Shortex, OceanEx, Bgogo, BitMart and QBTC.
The exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here.
As reasons to why you should choose Tidex as your primary trading platform, they state that the platform is user friendly and that they focus on security. Furthermore, they declare that they have a simple fee structure, 24/7 support center and also have APIs fro cross platform-trading. We feel that these advantages are indeed helpful for prospective traders.
In addition, the Tidex trading platform is also mobile compatible. This is of course helpful for any trader who wish to do their trading and monitoring while on the go.
Tidex 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 below is a picture of the trading view at Tidex:
Tidex Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Normally, exchanges distinguishes between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
Tidex’s fee for takers is 0.10%. These taker fees are lower than the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. Regardless of which taker fee you compare against, 0.10% is on the low end.
However, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a very strong part of Tidex's offering and can be really helpful for people interested in not picking up existing orders from the orderbook.
Tidex Withdrawal fees
Tidex's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
All in all, this exchange’s fee levels are in line with, or even slightly below, industry average.
This trading platform does not accept any other deposit method than deposits of cryptocurrencies. This means that new crypto investors can’t trade here. If you don’t have any crypto but still want to start trading at this exchange, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. Use our Exchange Finder tool to find an exchange where you can use fiat currency (regular money) to purchase cryptocurrencies.
The security score received by this Russian cryptocurrency exchange site 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 has a large number of cryptos you can trade. If a large number of cryptos is important to you in your choice of exchange, you could also check out the following exchanges: