UPDATE 3 January 2023: When trying to access the website of Titanex today, we were unsuccessful. There have been no preceding messages on system maintenance or new websites or anything similar.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
What is Titanex?
Titanex is a cryptocurrency exchange registered in the Seychelles, which is quite common in the crypto exchange industry. It has been active since 2022, so a fresh addition to the league of cryptocurrency exchanges. The below picture shows the process of a swap transaction at Titanex:
Upcoming Referral Program
According to information to Cryptowisser.com, Titanex is currently developing a referral program for its users. We do not yet know the terms and conditions of such referral program, but we'll be sure to update this review with the relevant details when we have them.
Private - No KYC
Titanex also claims that they will "never ask you for any personal data". No KYC is needed in order to create an account with Titanex or use the swap service. Finally, the platform also proudly declares that any swaps you make on the platform are also "untraceable on the blockchain".
Titanex Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders concerning the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the purchase interface at Titanex:
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
Titanex 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. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.
At Titanex, the trading does not seem to be executed between users of the platform. There are no order books to view, just a purchase interface. The maker and taker distinction thus becomes a bit superfluous. Instead, Titanex charges what we call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee is 0.75%. These flat fees are quite high.
In the largest and most recent empirical study performed on industry average crypto trading fees, we found that the industry average spot trading taker fee was 0.2294% and the corresponding spot trading maker fee was 0.1854%. Here, as you recall, they are both set at 0.75%. Consequently, Titanex's trading fees are way above average, even though the platform is different from most centralized exchanges in its way of operating.
Titanex Withdrawal fees
To our understanding, Titanex does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure. In general though, only paying the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals.
Deposit Methods and US-investors
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Titanex is cryptocurrency. However, if you really like Titanex but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange List to easily see which platforms that allow wire transfer or credit card deposits.
Titanex does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List, you can easily see which exchanges that accept US-investors.