UPDATE 15 July 2021: When trying to access the website of USD-X today, we were unsuccessful. There has 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.
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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 USD-X consists of four parts: general information, fees, deposit methods and security.
USD-X is an American cryptocurrency exchange. There are many American cryptocurrency exchanges. USD-X is hardly among the most popular ones. The group of the most popular ones include exchanges as Coinbase, Bitquick, Gate.io and Paxful.
As USD-X is an American exchange, US-investors are naturally permitted to trade at it.
On its website, the exchange states that it is a “regulated exchange that fully implements AML/KYC (Anti Money Laundering / Know Your Customer) regulations”. In light of this, it seems odd that they have not provided any information on the company behind the exchange, registration number, any license information or anything like that at all.
There are three different KYC-levels at the exchange.
KYC 1 – if you have verified your email: buying/selling not permitted;
KYC 2 – if you have provided your name, address & phone number: buying permitted; and
Finally, KYC 3 – if you have provided your ID card, utility bill, bank account / credit card: both buying and selling is permitted.
Even if you have no problems with reaching the necessary KYC-level to do what you want to do, you should know that this exchange does not offer any crypto-to-crypto trading. All of the cryptocurrencies listed at USD-X can only be traded against the USD.
USD-X 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 USD-X (when not logged in, so not showing any order boxes):
Now let’s have a look at the fees.
USD-X Trading fees
This American cryptocurrency exchange offers a flat trading fee of 0.25%. USD-X does accordingly not distinguish between takers and makers. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. 0.25% is also arguably exactly in line with the global industry average.
USD-X Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average and constitutes a competitive edge against other American cryptocurrency exchanges. For instance, Bittrex charges the double (0.001 BTC). Here’s a list of the withdrawal fees for the other cryptos available for trading at USD-X:
Here, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.