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 Tokenomy consists of four parts: general information, fees, deposit methods and security.
Tokenomy is a cryptocurrency exchange with headquarters in the country of Singapore. In addition to this exchange, also the following exchanges are all registered or headquartered in Singapore: WEX, Coinbene, Triple Dice Exchange, Coinut, COSS, ExcambioRex, Coinhako, FYB-SG, UEX, Cointiger, Kryptono, DragonEX, Coinhub, Cryptology, Bitrue, Bitbox, ABCC, CRXzone, Bytex, Kyber Network and Liquid.
When looking at this exchange’s website, a majority of information seems to be directed towards ICO-teams. The information urges them to list their respective tokens at the Tokenomy-exchange. Apparently, Tokenomy is somehow also affiliated with the Indodax-exchange. We have found no further detailed information about this at Tokenomy’s website.
We have no reason to believe that Tokenomy prohibits US-investors from trading at its platform. Additional supports for the permissibility of US-investors is that out of the 22 Singapore-exchanges listed in our Cryptocurrency Exchange List, only 6 (27,27%) prohibit US-investors from trading. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Tokenomy Trading fees
The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the 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 for “makers” because their orders make the liquidity in a market and takers are the ones who “take” this liquidity by matching makers’ orders with their own.
This trading platform charges takers 0.25% of the total order value. This means that if you are a taker and you execute an order worth USD 1,000, you have to pay USD 2.50. Makers on the other hand does not have to pay anything when trading at Tokenomy. Their fees is accordingly 0.00%. This is a very strong competitive edge in the market. It is especially beneficial for the investors that are not interested in picking up existing orders from the order book but prefers to “go fishing” with maker-orders.
Tokenomy Withdrawal fees
When it comes to withdrawal fees, Tokenomy charges 0.0005 BTC when you withdraw BTC from the exchange. This is also a competitive fee, as the global industry BTC-withdrawal fee average is 0.0008 BTC.
Tokenomy does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
We run all 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. Tokenomy only received an F-score in this test. This is below industry average and is thus not a competitive advantage for this exchange.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: