A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Tokenize consists of four parts: general info, fees, deposit methods and security.
Tokenize is an exchange from Singapore. Singapore is one of the countries in the world which has the most crypto exchanges. But, as you know, when it comes to crypto trading, the world is your playing field and the home of the exchange doesn’t really matter that much.
On the date of first writing this review (29 August 2019), the platform claimed to have more than 100,000 users. As a few of its main advantages, Tokenize mentions that it has an “easy & simple to use interface”.
Another promoted feature is that the platform offers fiat-to-crypto pairings in addition to its crypto-to-crypto trading and ICO-offerings.
To our understanding, Tokenize does not prohibit US-investors from trading on its platform. In any event, if you are a US-investor and wish to start trading here, you should perform your own analysis of whether you are subject to any state laws or similar that prohibits you from trading here. You can never be too sure.
Tokenize 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 Tokenize:
Tokenize Trading fees
This trading platform does not charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.
Tokenize’s flat trading fee is 0.25%. 0.25% can be argued to be the industry average, so no competitive advantage or competitive disadvantage for Tokenize here.
Tokenize Withdrawal fees
Tokenize has a percentage based withdrawal fee. This means that they charge you a percentage of the withdrawn amount when you want to withdraw. Their percentage charged is 0.50%. This is an unusual withdrawal fee model, but it is not unheard of. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount. In addition to this exchange, only the following have percentage based withdrawal fees (from lowest to highest): SouthXchange (0.04%), FatBTC (0.05%), Digax (0.10%), ExcambioRex (0.10%), BitINKA (0.15%), RippleFox (0.20%), OOOBTC (0.50%), BCEX (0.50%), DOBI Trade (0.50%), iCE3X (0.50%), LEOxChange (1.00%) and Trustdex (1.00%).
With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.00005 BTC (extremely low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.05 BTC (extremely high). Each investor should consider whether this withdrawal fee model would be appropriate for them based on their own individual circumstances.
This exchange offers wire transfer as a deposit method, but you can’t deposit via credit card. Offering wire transfer enables people with no previous holdings of cryptocurrencies to start off their trading career here, which is very helpful. However, if you absolutely need a trading platform that accepts credit card deposits of fiat currency, just go to our Cryptocurrency Exchange List and look for green checkmarks in the “credit” column.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Tokenize received an F- score in this test. This should however be viewed in light of the fact that F is the Mozilla Observatory-score received by most of the exchanges in our Exchange List.
You should note though that the exchange promotes its security as one of its main highlights. Specifically, they emphasize the fact that they have 2FA and IP whitelisting together with multi-sig authorization.
We hope you have enjoyed reading the above review. We also recommend checking out the following exchanges. They are well established in the industry and have also received great ratings from the visitors on our site: