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Evonax Review - is it scam or safe?

Evonax Review - is evonax.com scam or good cryptocurrency exchange?

RATING: 2 / 2 REVIEWS Evonax
Evonax is not regulated. We cannot guarantee your money is safe.

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Trading accounts and conditions

 

Account type

Leverage

Fees

Standard

1:1

Miner only

 

Evonax is a small Danish crypto-exchange that offers coin-to-coin trading in the most popular digital assets. Its clients don’t have to register or provide any personal data, only a valid wallet address.

 

In fact, the Evonax A/S company bought ExchangeMyCoins platform that once specialized in BTC to PayPal transfers. Evonax reopened the service, but currently does not work with any fiat currencies. The team says it is working hard to extend the range of cryptocurrencies available, as well as to offer other services in the bear future.

 

 

Evonax Advantages

 

No fees

The strongest side of this exchange is that it does not charge any fees, according to the information on its website. While most exchanges charge something in the range of 0.15% - 0.25% per trade and at least some fees on withdrawals, Evonax only has some small miner fees. The latter vary based on the amount and the type of coins.

 

Simple and anonymous trading

Trading on Evonax is done in a simple and straightforward manner and does not even require registration. According to the exchange’s own site, sign up is not obligatory and its services are available without registration and verification.

 

Fast service

It appears that Evonax provides quite a speedy service. Usually most orders are processes within 30 minutes, according to the exchange itself.

 

 

Evonax Disadvantages

 

Does not work with fiat

As we mentioned in the beginning, fiat currencies are not supported by Evonax. So, if you simply want to buy Bitcoin or Ethereum with US dollars and Euro using your credit/debit card, bank account or services such as PayPal, Evonax is not the place for you

 

 

>> Crypto exchanges accepting credit cards <<

 

 

Only 6 coins listed

By the time of writing this review, there are only six coins supported by Evonax: Bitcoin, Bitcoin cash, Ethereum, Dash, Litecoin, and Dogecoin. Although they claim to have listed “the most popular” ones, Ripple is missing, as well as Eos, Stellar, and many others.

 

Platform too basic

Actually, there is no trading platform whatsoever that we can speak of. There is no order book, no charts, no order history. On one hand, it is easy to use, but is not fit for advanced trading. Here is a snapshot:

 

 

No margin trading

Evonax does not provide trading on margin, which is not surprising, as most exchanges do not provide this service. On the other hand, most forex brokers who offer cryptocurrency CFDs, do offer leverage.

 

 

>>Trading Bitcoin with margin<<

 

 

That being said, there are a lot of differences between the two types of trading. Please refer to our guide for further details.

 

 

Conclusion

 

Evonax provides a simple and fast spot exchange service for Bitcoin and several altcoins. Its major advantages are the almost non-existent fees, and the anonymous speedy service. Another strong side of Evonax is the fact that it is based in Denmark and that the company and the team seam quite reputable -Evonax A/S is a subsidiary of Thyregod Invest ApS - a company managed by Poul Thyregod, who also owns Executive Capital A/S.

 

What we dislike about this exchange is that it does not support fiat currencies and convenient payment methods, which makes it not that user friendly. Besides, while most coin-to-coin exchanges offer their services on trading platforms with professional features (such as charting by TradingView), Evonax's trading interface is too basic.

 

The main issue with most crypto-exchanges is the inherit risk of the system. Hacks have occurred even at the largest and most reputable exchanges, not to mention the price volatility and the counter-party risk. That is why we’d like to remind you that you can also trade in Bitcoin and other digital assets with forex brokers, some of which are a safer alternative, as they are licensed by the respective governmental agencies.

 

 

>>Trusted Bitcoin forex brokers<<

 

 

To summarize our recap of Evonax:

 

Pros

Cons

No fees

Does not work with fiat

Simple and anonymous trading

Only 6 coins listed

Fast service

No margin trading

 

Platform too basic

 

 

 

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Traders` reviews for Evonax

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Slippage

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Price feed

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Summary

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Uncontactable!!!!

So many emails sent with no reply.
Website promises 24hr reply.
So far they have stolen my trade and not have any response?
I have even emailed Poul, Poul Thyregod personally with no reply!

A bit sad when the whole idea was to be anonymous … haha too late for that!

Not sure what my next step is I would appreciate any advice??
Maybe a visit to Denmark is in order ? hmmm...

Harro 06/07/2019

Monero Exchange Service By Evonax

Evonax is very good and well-managed cryptocurrency exchange platform. I already had XMR then I contact to Evonax basically to exchange XMR to dogecoin and with just a few blinks my transaction was done successfully. I feel that their service was way fast than other platforms I have ever used.

Janet Xulu 05/27/2019
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