Vinex Network Review
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 Vinex Network consists of four parts: general information, fees, deposit methods and security.
Vinex Network is an exchange registered in Singapore that was born in September 2018.
In addition to this exchange, the following exchanges all are registered or headquartered in Singapore: BitMAX, Coinbene, Triple Dice Exchange, Coinut, COSS, ExcambioRex, Coinhako, UEX, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, Bitbox, ABCC, CRXzone, Bytex, Kyber Network, Cryptology and Liquid.
On the date of writing this review (3 July 2019), the 24 hour trading volume was USD 3,413. This trading volume is very low and is all but an advantage for this trading platform. We hope for this exchange’s sake that the liquidity increases. If not, it will be difficult for the company to attract new users to the platform.
We have not been able to find any information that US-investors are prohibited from trading at this trading platform. 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 the exchange has opened its door in spite of your own state prohibiting you from trading.
Vinex Network 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. Vinex Network has two different trading views, Basic & Advanced. This is a picture of the Advanced Trading View
And the below is a picture of the basic trading view, which is more comprehensible than the advanced but might lack some features that more experienced traders would like to have in their trading views (charting tools etc.):
Vinex Network Fees
Vinex Network Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.10% of the order value. 0.10% is below the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
Vinex Network Withdrawal fees
Vinex Network charges a withdrawal fee amounting to 0.0008 BTC when you withdraw BTC. This is quite exactly on point with the global industry average BTC-withdrawal fee, being 0.000812 BTC.
All in all, both the trading fees and withdrawal fees at Vinex Network are in line with, or even slightly below, the industry averages.
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.
Vinex Network Security
This exchange has a security score of D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually above industry average when it comes to top crypto exchanges. The majority of cryptocurrency exchanges in our Cryptocurrency Exchange List only receives an F when running the Observatory-test.
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: