This is a cryptocurrency exchange platform that provides its users friendly interphase for crypto-to-crypto trading. The exchange headquarters is in Singapore with branch offices in Malaysia, and India, amongst others. Launched in 2017, it has risen to a top 30 exchange by 24-hour trade volume. Although the main language on the site is Mandarin, users can choose from a range of other languages by clicking the top-right corner of the homepage.
What it is
For novices and amateurs just going into the Cryptocurrency world to trade or for persons who are interested in exchanging crypto and fiat, this may not be the best option as it’s a crypto-to-crypto exchange only. It is a centralized exchange.
Customer support and reviews
Makes no room for a customer support phone line service and some users have left reviews online that the customer support provided is slow to respond via email. Also, English language support isn’t the best. Despite these challenges, it offers other customer support contact options such as QR codes to Telegram and WeChat support on the platform’s homepage. It also has customer support options on social media platforms like Twitter and Weibo.
Deposits, Trades, and Withdrawals fees schedule
You will be charged a trading fee of 0.1 percent for selling or buying cryptocurrencies such as major trading pairs, which include USDT, BTC, and ETH. Akin to popular exchanges in the market, it has a native token that may be used to reduce trading fees. The Coni token (CONI) decreases trading fees to half. Market makers and takers are subject to the same fees. The fees are competitive compared to others. With this platform, one only has to pay mining fees after every withdrawal made.
Mobile App
It has mobile apps for both iOS and Android, unlike most exchange popular platforms. The reviews mobile users posted by mobile app users show lacking areas where the exchange can improve. Although, some users have claimed that the app is not compatible with Android 9. Also, the iPhone app isn’t directly available in the App Store. To download it, you will have to scan a QR code on the exchange website and go through a manual install. Although it’s simple, this method poses a possible security risk.
Partnership with John McAfee
In September 2018, the exchange platform launched a partnership with the McAfee Alliance to “promote transparency, corporate responsibility, and self-regulation in the cryptocurrency markets.” It was a strategic partnership meant to differentiate the platform from others in the cryptocurrency exchange market. Blockchain/crypto companies that are part of the McAfee alliance include Docademic, Apollo, and Ethershift, amongst others.
Usage Restrictions
The exchange website has millions of users in more than 150 countries. However, currently, it does not allow investors from the US to participate. As stated by the exchange website, other locations with restrictions include Cuba, Iran, North Korea, Syria, Sudan, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and China.
KYC checks Terms and Conditions
As it does conduct KYC checks on all first withdrawals of cryptocurrency funds if you want to use this option, ensure you are conversant with the exchange’s terms and conditions. A user has to provide basic personal information such as email and official identification. Although, this could take various days to get approval. It is a factor to consider when a user is trying to withdraw crypto from the exchange and has to quickly change to fiat on another exchange. Various crypto-to-crypto exchanges do not have such strict requirements, but after the first KYC check is completed, one can expect all subsequent withdrawals to be processed faster.
