TIP: For a Chinese version of this review, please scroll to the bottom of this page.
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 UniDAX consists of four parts: general info, fees, deposit methods and security.
UniDAX is an exchange from Singapore but with HQ in Hong Kong. The platform was originally launched in March 2018, and it soon entered into the top 100 trading volume exchanges in a short period of time. The exchange is available here.
If you live in Hong Kong or Asia and want a crypto exchange, app and Wallet solution, Uwallet, UniDAX offers it all. When it comes to cryptocurrency trading, users from anywhere in the world can safely rely on this platform. Currently users from over 120 countries are using UniDAX. UniDAX adeptly have the slogan, “Your Universal Exchange for the Digital Finance World”.
The exchange offers top cryptocurrency assets, with only well-known tokens on offer. This number currently stands at 16. UniDAX offers an ecology of specialized and qualified products with bank-level security through a professional team. The product ecology refers partly to how they screen cryptocurrencies that want to be listed. They do not list every token but choose only the most secure and best. This is in order for you to be able to safely and comfortably trade the very best assets on the exchange. With bank-level security, the exchange mentions that it has “7-layer security protection, deep cooperation with well-known security protection companies to ensure the safety of funds: multi-machine hot backup, offline cold storage and multidimensional day-to-day clearing reconciliation.” The factor “professional team” is quite self-explanatory.
US-investors can trade here. However, if you are a US-investor, you should still always analyse whether your home state imposes any obstacles for your foreign cryptocurrency trading. Sometimes exchanges will allow trading or use of cryptocurrency in spite of your own state prohibiting you from trading.
Moreover, the UniDAX Mall offers amazing tech, gift cards and telecommunication products for users. Simply use the platform to gain UNX token rewards and exchange for tech products.
UniDAX Trading View
Different exchanges have different trading views. There is no one fits all best view. You should determine which trading view suits you best by looking into the UniDAX settings, and changing the view to one that works for you. Below is a picture of the UniDAX trading view. It feels very intuitive and helpful to us. The layout and trading views can be changed and the system makes calculations and trading easy. Showing notifications and confirmations. It can be made more advanced or simple based on the user:
UniDAX Trading fees
This trading platform doesn’t charge different fees between takers and makers. Instead, the exchange has a so called “flat” fee model. They offer a flat trading fee of 0.20%. The global industry average has for a long time arguably been 0.25%. Today, however, we are seeing more and more exchanges moving to lower trading fees. Examples of lower such fees is 0.10% and 0.15%. New industry averages are accordingly being established.
UniDAX also offers an internal platform token, the UNX, to further reduce the fees.
This internal currency, allows users to trade and minimise fees. It applies to trading, withdrawal and also entering into promotions on the platform. When users trade or access UniDAX, they receive these tokens as rewards. Sign up, passing KYC and taking part are all methods to receive. In many cases, users skip paying platform fees by using these rewards.
But without adding in UNX, UniDAX’s trading fees are still in line with industry average.
UniDAX Withdrawal fees
UniDAX charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This fee is in line with, or actually slightly above, the industry average. Global industry average BTC-withdrawal fee is according to our own study 0.000812 BTC per BTC-withdrawal.
All in all, the trading fees and the withdrawal fees here are in line with the industry averages and if you combine with the internal UNX token, they are below industry average.
UniDAX accepts crypto deposits from the other wallets and the other exchanges out there. For new crypto investors, they are also able to buy USDT by using Alipay or Bank transfer in the C2C zone on UniDAX.