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Cryptex Review - is it scam or safe?

Cryptex Review - is cryptex.net scam or good cryptocurrency exchange?

RATING: 3.2 / 2 REVIEWS ForexBrokerz Cryptex

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Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

0%

 

 

Cryptex is a new decentralized cryptocurrency exchange (still in beta mode) based in the UK, but mostly targets Russian clients, judging by the language versions of the site, the deposit methods and the trading pairs. The platform should not be confused with another of a similar name – Cryptex24.

 

Cryptex is offering trading in Bitcoin and possibly Litecoin, Dash and Ether (at later stages) for USD, EUR or RUB.

 

Cryptex advantages

 

- Low Fees. Cryptex charges no trading fees for the BTC/USD and LTC/USD pairs and the BTC/RUB and BTC/EUR pairs are “under moderation”, as per the exchange. This is explained with the goal to create liquidity. Most likely the profits for the exchange are included in the spread.

 

- Low Transfer fees. The deposit and withdrawal fees of Cryptex are quite attractive as well. For most deposit methods, except for USD cash (2%), PerfectMoney voucher (8%) and PerfectMoney (8%), there is no fee. For withdrawals in USD cash the fee is again 2%, for withdrawals in BTC the fixed fee is 0.001BTC, the same is for Litecoin. The rest methods are with no fee.

 

- Convenient Deposits/Withdrawals. Cryptex supports several very convenient deposit methods that include credit cards (for some countries), bank transfers and payment platforms such as PerfectMoney, Payeer, OKPay, Payeer, AdvCash and WebMoney.

 

>> See crypto exchanges accepting credit cards <<

 

- No Limits. For most withdrawals Cryptex has no restrictions either. For some deposit methods there are minimum requirements, but they are fairly low, except that for USD cash, which is USD 5000.

 

- Demo available. Cryptex offers a demo version of its trading platform for those who wish to have a look, without signing up for the service. It is convenient, particularly the quick tour feature, which explains what is what on the screen and how to use it.

 

- Several order types. Cryptex allows the placing of two types of orders: market, stop and limit. This is a feature that is not often provided by the cryptocurrency exchanges. We could not try the different types, as most, except the limit order, are disabled in demo mode.

 

- Good Platform. Cryptex has a neat and useful trading platform that has price charts, some basic analysis tools, an order book, a depth of market chart and an order history.

 

 

- Countries. As we already noted, Cryptex is mostly targeting Russian clients, but is also accepting traders from other countries, as well.

 

- Anonymity. In Bitcointalk one of the managers of Cryptex says it allows anonymous trading, although we could not find specific information about this on the exchange’s site. Yet, we managed to sign up and access the deposit section, without having to provide any personal information.

 

- Mobile app. Coming soon. But obviously in the works.

 

Cryptex disadvantages

 

- Still in Beta. Like we said, Cryptex is a new exchange and is still in Beta mode and not all features and trading options are activated yet. However, it seems that it already has some clients and some liquidity.

 

- No Leverage. Cryptex does not offer leveraged trading on cryptocurrencies, which is quite common among the crypto exchanges.

 

 >> See our list of regulated bitcoin forex brokers <<

 

- No info on security. We could not find specific information about the security features of the exchange, and more particularly about where and how it stores client funds. It appears Cryptex is using the standard security features used by most exchanges, such as two factor authentication, IP logging, Google authenticator and login history.

 

- No Wallet. It is not mandatory, of course, but some exchanges offer e-wallets for its clients to store their funds.

 

 

Conclusion

 

For now Cryptex has limited features and options, but looks appealing enough, especially after it launches in full. What we find most attractive are the low fees and the fact that it offers anonymous trading. We also like the different types of orders, even though not all of them are available at the time of writing this review.

 

Perhaps when Cryptex launches its full service and options, it could become a really nice exchange.

 

 

 

Latest news about Cryptex
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Traders` reviews for Cryptex

Spread

Pros

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Slippage

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Requotes

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Price feed

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Platform

Pros

Cons

 

 

Deposit/Withdraw

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Customer service

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Summary

Pros

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my expirience

It's not totally correct review, but I'll agree that Cryptex is still in Beta and don't have enough deposit methods, also would be better to add cryptocurrencies. Exhange 3.8/5 for my opinion. What isn't correct here: "No info on security" you can just check on forums like: https://bitcointalk.org/index.php?topic=2454750.0 or website bitcoinwiki, there is 6-FA(even not all biggest platforms have protection like this one) and cold storage. And another one statement: you have a wallet on this platform after registration.

Wild Nature 06/15/2018
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