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Waves DEX 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 Waves DEX consists of four parts: general information, fees, deposit methods and security.
Waves DEX is a decentralized cryptocurrency exchange that launched in June 2016. Decentralized exchanges have popped up like mushrooms in the forest over the last few years and many argue that they are a better choice for traders than regular centralized cryptocurrency exchanges. Another decentralized exchange that has received a lot of praise on our site is Mercatox.
Decentralized exchanges do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins. Decentralized exchanges normally do not require you to give out personal information either. This makes it possible to create an account and right away be able to start trading. The servers of decentralized exchanges spread out across the globe leading to a lower risk of server downtime.
However, decentralized exchanges as opposed to regular top crypto exchanges normally have an order book with lower liquidity than the regular top crypto exchanges. This is the case also for the Waves platform. At the day of writing this review, the Waves platform had a daily trading volume of USD 240,000. This is peanuts compared to most exchanges out there and doesn’t even place Waves among the 150 biggest exchanges.
Waves DEX Fees
Waves DEX Trading fees
This decentralized exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Waves charge 0.003 Waves per transaction. This is approximately 0.6 cents (USD 0.006) today. Accordingly, trading fees are low and very competitive.
Waves DEX Withdrawal fees
We have not been able to find Waves DEX’s withdrawal fees. This is potentially a risk for you as an investor (if you can’t find them anywhere, there’s a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of the withdrawal fees at Waves DEX before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
At this particular exchange, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors. According to our testers, however, when purchasing Waves by credit card, the mark-up is insane. One of our testers reported having to pay 26% more than the current market price. These deposit fees are indeed scary.
Waves DEX Security
Waves DEX’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.