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KKEX Review - is it scam or safe?

KKEX Review - is kkex.com scam or good cryptocurrency exchange?

RATING: 2 / 0 REVIEWS KKEX
KKEX is not regulated. We cannot guarantee your money is safe.

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts & Conditions

 

Account type

Leverage

Trading fee

Deposit fee

Standard

N/A

0.20%

None

 

KKEX is a relatively new blockchain asset exchange that offers crypto-to-crypto spot trading with competitive fee structure, and a wallet service. KKEX also provides developers with a powerful API which integrates trading capabilities into their own applications.

 

Its website is available in Chinese and English languages.

 

 

KKEX Advantages

 

Low-cost trading

All trades at KKEX are charged with a fee of 0.20%, which is a good pricing. Such fees are in line with the average in the crypto sector. Besides, almost all deposits and withdrawals are free of charge, which is really attractive. Most exchanges charge withdrawals out of the platform, and some of them have rather hefty fees. Here are the details on KKEX’ fees on coin transfers:

 

 

Solid number of altcoins listed

Launched as a platform for exchanging Bitcoin Cash for Bitcoin, KKEX currently offers trading in a number of other coins: Ethereum, Eos, Bitcoin Gold, Aeternity, Read, LiteBitcoin and others. Trading is done against BTC and ETH.

 

Advanced trading platform

KKEX provides a very good web trading platform with advanced charting powered by TradingView. There are trend lines, a number of technical analysis indicators and more. Here is a snapshot of KKEX’s advanced platform:

 

 

KKEX'web trading platform. Click on the image to zoom in.

 

Mobile apps will be developed soon.

 

Furthermore, users can place market, limit and Iceberg orders. An iceberg order is a large order divided into smaller ones, usually via an automated program (for the purpose of hiding the actual order quantity).

 

Wallet service

This exchange offers a wallet service, which is very convenient. 

 

 

KKEX Disadvantages

 

No fiat support

As we already mentioned, KKEX does not accept real money transfers. So, you cannot buy popular cryptocurrencies like Bitcoin or Ethereum with CNY, nor with US Dollars directly via your bank account or credit card. Those of you who don’t possess any coins will have to go through a “gateway exchange” first.

 

 

>> Buy Bitcoin with credit card <<

 

 

Registered offshore

The company operating the KKEX exchange and website, KKEX Technology Co. Ltd., is registered offshore, in the Seychelles. While it is understandable that the exchange is not registered in China for regulatory reasons, offshore destinations do not inspire a lot of trust. We generally advise investors to avoid brokerages and exchanges incorporated on offshore sunny islands where regulation and taxes are lax or non-existent.

 

No margin trading 

Like most exchanges, KKEX does not offer leveraged trading. Leverage is a bit controversial issue, but If you need some, there are exchanges like Chinese OKEX that offer such. Besides, some forex brokers also provide leveraged trading in cryptocurrency CFDs.

 

 

>> Trading Bitcoin on margin with FX brokers <<

 

 

ID Verification via third-party app

We are used to exchanges working with fiat requiring ID verification, but KKEX does not accept traditional money, but it requires its users to verify before trading. Furthermore, they must download the POIM App that’s used to scan a special QR code and gain entry to the exchange center. No transaction can take place unless a user scans the code.

 

 

Conclusion

 

KKEX is a digital assets exchange, where one can trade cryptocurrencies against one another and store them in a secure wallet.  Traditional fiat money is not supported, but nonetheless, the exchange requires ID verification. What we like best about KKEX is the low fees and the advanced trading platform.

 

KKEX seems like a Chinese exchange, but currently is does not hold any licenses and is incorporated offshore. After ICOs were banned in China, most exchanges shut down local operations and/or got registered elsewhere.

 

Generally speaking, trading with offshore entities involves certain risks, however KKEX seems like a decent exchange, with clear fee structure. However, those of you who prefer trading with a licensed company may sign up with a regulated forex broker that offers trading in crypto CFDs.

 

 

>>Regulated forex brokers offering Bitcoin trading<<

 

 

Here are, once again, the advantages and disadvantages of KKEX exchange:

 

 Pros

 Cons

 Low-cost trading

 Registered offshore

 Solid number of altcoins listed

 No fiat support

 Advanced trading platform

 No margin trading

 Wallet service

 ID Verification via third-party app

 

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Traders` reviews for KKEX

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