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 Vindax consists of four parts: general information, fees, deposit methods and security.
VinDAX is a cryptocurrency exchange registered in Vietnam. The only other exchange we have listed in our Cryptocurrency Exchange List from Vietnam is Trustdex.
VinDAX offers trading in quite a large number of cryptocurrencies. So if you’re an altcoin trader looking to find that unicorn crypto, chances are that you will find it here.
As for liquidity, VinDAX is showing very impressive trading volumes. On the date of first writing this review (9 September 2019), VinDAX had a 24 hour trading volume of USD 173.7 million. 57.77% of that was comprised of the BTC/USDT trading pair. The trading volume placed this exchange on place no. 41 on the list of the exchanges in the world with the highest 24 hour trading volumes. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume was remarkably enough almost exactly the same (USD 173.1 million). This day, 79.99% was the BTC/USDT trading pair and the trading volume placed the exchange on place no. 58 on Coinmarketcap’s list of exchanges with the highest 24 hour trading volumes.
VinDAX is also fully compatible with iOS, Android, Mac & Windows. This means that regardless of which desktop or mobile you are using, you can make use of this trading platform.
This trading platform does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here.
VinDAX 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 (in advanced mode) at VinDAX:
VinDAX Trading fees
This Vietnamese trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. The flat fee offered here is a very low 0.05%. 0.05% is substantially below the global industry average (approx. 0.25%).
But this trading fee can be made even lower if you hold a certain number of the exchange’s native token, the VinDax Coin, with the ticker VD. The lowest possible trading fee you can achieve is 0.02%, but then you must hold more than 2,000 VD-tokens. 2,000 VD-tokens is today only equivalent to USD 80, so it might be a smart move to acquire 2,000 VD-tokens and enjoy the lower trading fees. That is of course dependent upon which trading volumes you’re looking to explore when trading at the exchange. The following are the different fee levels:
VinDAX Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. VinDAX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is almost 40% lower than the global industry average of 0.000812 BTC.
All in all, the fees at VinDAX are very competitive.
This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading at this trading platform, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. Don’t worry though, we will help you find an exchange where you can purchase your first cryptos by the help of our Exchange Finder. Do the test there now and you will see what alternatives you have.