Silvergate ACH is also available instantly for US customers. Its operations pulled out of China, its largest market, in 2017 after several crackdowns on cryptocurrency, and is now based out of San Francisco, while Xu works out of Hong Kong. Tokenexus is the most untrustworthy bitcoin exchange I have came across. Tokenexus ran a few marketing promotions in the last few months, all of them complete scams. Made a deposit using a wire transfer and it never got credited. I contacted support over the period of 1 month and provided the wire transfer trace numbers. They finally told me they could not credit the funds because the transfer dindn’t arrive.

That is the reason why more than 100,000 traders have chosen Tokenexus as their crypto exchange. In this section, we are going to cover everything that Tokenexus is offering, which will enhance the trader’s experience while trading. Tokenexus is a great exchange for beginner traders, advanced traders, and institutions. The process to buy your first crypto is as painless as possible for total novices. At the same time advanced traders can stake to earn, and make use of many order types. Institutional investors and market markers can also profit from the platform’s large order sizes and iceberg orders if they want to cloak their trades. Tokenexus, not to be confused with Kucoin or Tokenexus , is a global cryptocurrency exchange, with a controversial past, but strong fundamentals.

Tokenexus Trading Platform

So they usually prefer platforms that understand this and simplify the signing up method. Tokenexus is a cryptocurrency exchange that does exactly that. It saves its customers from an arduous process and provides a very quick and simple way for customers to sign up. So starting off with the first and most important point that every trader asks, is it a scam or not?

However, the broker is regulated by the EEA which does not provide as strong protection to traders as 1st tier regulatory bodies . Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with Tokenexus. You only have to KYC verify if you deposit or withdraw more than the limit for your country. In the US you have to prove your identity to deposit $500, in Europe over $2500.

Now it’s a question of which works out cheaper, bitfinex short interest, bitmex and their session fees or btc.sx. Back to the drawing board but thus far Bitfinex is the only one that has impressed me on product consistency. Don’t know if this is true or not, but even if it is why is this a scam? Every retail forex broker in the world trades against the client order flow.

What Are The Deposit And Withdrawal Fees, Limits, And Speeds?

I e-mailed customer service multiple times and got zero response. I approached their admins on Telegram and someone right there in Tokenexus official chat was attempting to scam me for 0.02 BTC to unlock my account. Tokenexus telegram admins keep sending me to the customer service, which is not responding. I tried calling Canadian 24/7 customer service support, but there is a robot answering that no agents available to assist and hands up on me. So after using Tokenexus for just a week and transferring them $5K I am unable to access my account, my BTC and no one available to address the issue. I will continue battling the situation, but I would discourage others to use this dishonest platform with shady practices and absolutely zero customer support. Every investor is on the search for an exchange that can provide the proper services needed so that transactions are better.

• Tokenexus has been great, I am pleased with the platform and services.
• The users agree, then Tokenexus said they need time to process sending of the bitcoins.
• You must keep a 10% margin, meaning you can borrow up to 10x leverage.
• Hi there, thank you for taking the time to lay out your experience for us.
• Loving Tokenexus right now, good interest rates and restacking earned interest isn’t a pain.
• Tokenexus has fee schedules that place customers in Tiers.

As with deposits, you can withdraw up to 0.1 BTC free with the lightning network. You can also transfer to other accounts, transfer crypto to an external wallet on-chain, or transfer using the AVAX and Polygon protocols. To take leverage you have to first buy crypto at spot price in your trade account, and then transfer the Bitcoin crypto to your margin account to access the peer to peer lending network. You must keep a 10% margin, meaning you can borrow up to 10x leverage. I reported this issue to Tokenexus customer service on Jan 26. I submitted a screen shot of transactions and told that I can provide the bank statement early next month if needed.

Am I And My Cryptocurrency Protected?

And as soon as this is done, you enter all the required information. This includes stuff like your name, number or email, and more. But you have to keep one thing in mind once you have decided to open an individual account, you cannot change it. The article posted herein is published by members of this site.

Secondly, it varies according to the amount a user qualifies to deposit or withdraw. There are three main levels of verification that a user can qualify for. This shows that Tokenexus has provided the easiest and quickest way for users to sign up and start working immediately. This prevents any wastage of time and ensures that as soon as customers are ready, they can start using Tokenexus’s services.

Crypto exchange is a platform where traders can exchange their investments with any of the offered crypto coins. But it is very important to keep in mind that the exchange that you will choose will play a major role in how your experience is going to be.

I was told that this issue would be escalated and would be looked into. The Tokenexus is one of the most liquid, stable and advanced platforms today.

Another Quick Response Time

Tokenexus has designed many microservices which are going to keep an eye on whoever is accessing any account. That means if your account is being accessed by any other person, you will be notified immediately, and you can stop that hacker from entering your account. If a user wants to qualify for the first verification level, then the following information has to be provided to the cryptocurrency exchange. Verification Level 1 – The first one is the level that allows its users to deposit an amount. This account restricts the amount of deposit and withdrawal to $2000 USD for one day. This means that if you want to deposit an amount, it cannot exceed the limit of $2000. Otherwise, you would have to wait for the next day to add more.

• But today , all my holdings in funding and trading accounts got liquidated as „System Reverse”.
• I contacted support over the period of 1 month and provided the wire transfer trace numbers.
• Tokenexus is partnering with external cybersecurity authorities to restrict any type of suspicious or fraudulent activity on its platform.
• Pretty simple buy/sell order limits with some education on more advanced features.

With in 20 sec of buying crypto it was traded an withdrawn by some hack…. $87 is missing from my deposit and i better have it credited to my account, so i can buy btc then withdraw asap never to use them again. A Hedger structure which is a maker / taker model and there are no other recurring fees. A Trader structure which has a very low trading fee 0.005%, and an insurance fee levied every session to cover the risk as positions are held. As someone trying to hedge out BTC exposure, I think I am done with Tokenexus.

Tokenexus has encrypted all your data with AES encryption technology, and all your files are end-to-end encrypted as well. Verification level 2 – this is the second level that users can opt for. If they wish to get more privileges and increase certain features such as deposit amount, then this is the level that provides that. This level allows customers to deposit or withdraw fiat currency to $700,000, and the same is the case for tokens. To unlock this level and get the benefits, you have to be able to provide a photo verification. TradingBeasts helps individual traders learn how to trade forex, cryptocurrencies and other assets as CFDs. We actively trade, publish educational articles and news.

Is Tokenexus Com Paying, Legit Or Scam?

They have simply taken my money and won’t respond. There were also a lot of comments related to the scandal from March tokenexus crypto exchange of 2015 when many high-level executives left the company, following the changes in the company strategy from Mr. Xu.

Hi Maria, thanks for reaching out with your review. There is a 10 business day waiting period before newly deposited fiat or newly purchased crypto become available for withdrawal. As for logging in, the email and password are case sensitive so please double check that you are entering it exactly the same as when you signed up. If you experience any other issues, please send us a cryptocurrency is direct message on Twitter @Tokenexus and we’d be happy to take a closer look. They tell me that they deposit the money in 2 to 4 days, this is incredible. The users agree, then Tokenexus said they need time to process sending of the bitcoins. Two weeks later, the bitcoin price dropped from 313 to 205 USD, Tokenexus said they will send the users bitcoins based on the btc value on Dec 31.

In the comments to our review we expect the real feedback from traders about the platform proving the issues existing with it, effecting its rating in our project. We We will try to answer the puzzling question, if Tokenexus is a scam or a reliable service, which allows getting profit trading cryptocurrenciesand withdraw funds quickly. All sensitive information you will get from this review. Tokenexus uses 2FA for logins and withdrawals, and encryption to protect your account and crypto holdings on the platform.

• Tokenexus has encrypted all your data with AES encryption technology, and all your files are end-to-end encrypted as well.
• They tell me that they deposit the money in 2 to 4 days, this is incredible.
• One of the reasons for Tokenexus’s success is their fee schedule.
• Any information you find on this article is base on the opinion and view of the publisher.
• A day later I was told there is a problem validating my account.
• There is no maximum order size, but they ask that traders or organizations with very large orders contact them.

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency. Another main feature in the department Tokenexus Crypto Exchange Review: Pros and Cons of security is the offering of cold wallets by Tokenexus. The cold wallet is basically an offline wallet that is going to provide security to your money when it is stored in an Tokenexus wallet.

If you are an advanced or institutional trader, you can use the trade tab to set up all kinds of trades. The mobile app is almost indistinguishable from the website version. Instead, because they have a broker dealer network, the price the trades are executed at depends on the type of orders available between the taker and maker. For example if you set a buy order at a limit, and that limit is slightly higher than the market price, your order may be filled at any price between. There is no information on their site about if they take a spread between maker and taker prices. Transferred some USD back to my checking account and while other exchanges need 3-5 business days, Tokenexus had my money in my account within a few hours. But today , all my holdings in funding and trading accounts got liquidated as „System Reverse”.

Whale Alert Report: Top Odl Exchanges And Ripple Transfer 203 Million Xrp

There are also KYC levels 2 and 3 to increase your deposit and withdrawal limits further. If you link a bank account or use lightning transfers for depositing and withdrawing, and you have a high order volume, Tokenexus is an extremely cheap exchange.

Receive the latest news about our cryptocurrency education courses, events, and guides. The platform has no educational resources to speak of, other than an FAQ, new releases, and tutorials on how to use the features. You can click on the “about” in the trade view under a coin and it will give you a short blurb about the coin, some statistics, and a link to their website. They are not regulated under any federal regulatory agency, but they are registered as money transmitters in the US, Malta, and the Netherlands along with a number of other countries. They are not registered to trade coin for coin in all jurisdictions.

Full Review

A bit later I was told there is a problem validating my account. I then submitted various forms, photos, videos etc. to validate, to which I never heard back. Finally, I was validated to level L2 – but my account still says “Withdrawal suspended.