UPDATE 29 November 2019: This exchange has been acquired by Poloniex and rebranded to Poloni DEX. This was announced on 5 November 2019 through the below press release. Please visit Poloni DEX instead.
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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 TRXMarket consists of four parts: general information, fees, deposit methods and security.
As one might expect from the name of this platform, the primary focus is the Tron token (TRX). The TRX-token is the base currency in every trading pair at this exchange. TRXMarket team namely believes the following:
“the TRON network will become the most popularized operating system in the blockchain field, and as a result, decentralized exchanges based on the TRON network will play an irreplaceable part in providing the infrastructure for developers and users on the network and promoting the growth of the entire network.”
The platform is available in English, Chinese and Korean.
On its website, TRXMarket has two pictures of its office environment and the view from their office. We can’t figure out why. Maybe it is so that no one shall believe that it’s just a scam company trying to defraud its users, and that having physical offices somehow makes that less likely. They don’t comment it at all, so we can’t be sure. Here are their Malta-offices though:
TRXMarket launched in December 2018 and has not yet been able to gain the trading volume that most traders likely hope for. On the date of first writing this review, 18 April 2019, the 24 hour trading volume was only USD 19,267, placing it a bit north of the top 250 exchange in the world based on 24 hour trading volumes. However, when last updating this review on 20 July 2019 the exchange’s trading volume had improved a bit. The 24 hour trading volume was then USD 59,459 which placed it on place no. 204 in the same list. Baby steps, but still!
US-investors may not trade here. The exclusion of US-investors is primarily due to regulatory reasons. The US-legal regime imposes obligations on many companies accepting funds from US-investors. If you are a US-investor, don’t despair! You can find the best cryptocurrency exchange for you to trade at by using our Exchange Finder or using the filters in our Exchange List. Check it out.
TRXMarket 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. This is the trading view at TRXMarket:
TRXMarket Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange normally charges you a trading fee. The trading fee is normally a percentage of the value of the trade order.
However, at this exchange, they don’t charge any trading fees at all. This is naturally extremely advantegous for the traders and a strong edge against most other cryptocurrency exchanges out there today.
TRXMarket Withdrawal fees
From our understanding, TRXMarket doesn’t charge any withdrawal fees either. But we have not been able to independently verify this.
All in all, regardless of whether TRXMarket does charge any withdrawal fees or not, the fees at TRXMarket are very competitive.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
The servers of decentralized exchanges are normally spread out. This is different from centralized exchanges that normally have their servers more concentrated. This spread-out of servers leads to a lower risk of server downtime and also means that decentralized exchanges are virtually immune to attacks. This is because if you take out one of the servers, it makes little to no difference for the network of servers in its entirety. However, if you manage to get into a server at a centralized exchange, you can do a lot more harm.
Also, if you make a trade at a decentralized exchange, the exchange itself never touches your assets. Accordingly, even if a hacker would somehow be able to hack the exchange (in spite of the above), the hacker can not access your assets. If you make a trade at a centralized exchange, however, you normally hold assets at that exchange until you withdraw them to your private wallet. A centralized exchange can therefore be hacked and your funds held at such exchange can be stolen. This is not the case with respect to decentralized exchanges.