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TDAX Review - is it scam or safe?

TDAX Review - is tdax.com scam or good cryptocurrency exchange?

RATING: 2.5 / 0 REVIEWS TDAX

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts & Conditions

 

Account type

Leverage

Trading Fee

Withdrawal Fee

Standard

N/A

0.25%*

0.002 BTC/35 THB


*Discounts available for high-volume traders.

 

TDAX is a multi-wallet cryptocurrency exchange platform headquartered in Thailand. Basically, it is an entry-level service, offering trading Bitcoin and other digital assets against the Thai Baht. Crypto-to-crypto trading pairs with BTC, ETH and USDT are also available.

 

Like most cryptocurrencies, TDAX uses Two-Factor authentication for security purposes and requires ID account verification for trading THB pairs. Its website is available in English, Thai and Chinese.

 

 

TDAX Advantages

  

Fiat currency (THB), bank transfers supported

Clients of TDAX can directly buy Bitcoin or other cryptos with cash via their bank account, which is definitely convenient, especially for Thais. Besides, bank wire withdrawals to Thailand banks are processed within 24 hours, while those to other banks may take up to two business days.

 

Another payment method available at TDAX is PromtPay.

 

Many coins available for trade

Apart from Bitcoin, at TDAX one can trade in Bitcoin Gold, Ethereum, Litecoin, OmiseGO, Tether, Kyber Network, Zcoin, Red Pulse and others. Although the number of altcoins at is not as impressive as that of, say Binance, it is solid, especially for a relatively small local exchange like TDAX.

 

No fees on deposits

Another thing which we like about TDAX is the fact that it doesn’t charge deposit fees, even on those in Thai Baht.

 

Competitive trading fees

TDAX applies a flat fee of 0.25%, which is on the upper end of average for the cryptocurrency sector. One of the major exchanges in Thailand, BX Thailand, charges trades with exactly the same fee. Yet, TDAX offers discounts to high volume traders as follows:

 

 

Advanced trading platform 

TDAX offers a simple we-based platform, where users can trade on the 4 main markets: THB, BTC, ETH, and USDT. What we like best about this platform is the advanced charting with numerous technical analysis indicators. Here is a preview:

 

 

Beginner-friendly

Apart from supporting the local fiat currency, THB, and allowing bank wire payments, TDAX also has a Support section on its website with detailed how-to guides. All these is extremely convenient and useful, especially for newcomers in the crypto world.

  

 

TDAX Disadvantages

 

Focus on Thailand

As is often the case with local exchanges, their offering is kind of limited. You cannot deposit or withdraw in USD or EUR, for example. If you are not living in Thailand, or China mainland, TDAX will hardly be of much benefit to you, as it focuses on trading against Thai Baht.

  

No leverage available 

TDEX does not allow leveraged trading, which is not much of an issue, given the volatile nature of cryptocurrencies. Nonetheless, some exchanges, like Bitfinex provide a small level of “gearing”. Another option to trade in Bitcoin and other cryptos with leverage is with forex brokers, all of which offer margin trading.

 

>>Brokers offering Bitcoin margin trading<<

 

Withdrawal fees

Typically, exchanges charge withdrawal, yet we find some of them pretty high. For example, withdrawals in BTC incur a fee of 0.002 BTC. By Comparison, BX Thailand charges Bitcoin withdrawals with 0.0005 BTC. Here is the complete information on withdrawals at TDAX:

 

 

Conclusion

  

Launched in September 2017, TDAX is a Thailand-based exchange co-founded by Poramin Insom, who is also co-founder of Zcoin. It offers a solid number of altcoins for trade and also allows trading against the Thai Baht, which makes it suitable exclusively for local investors.

 

The exchange is owned by TDAX Co., Ltd., a private limited company incorporated in Thailand. Like most similar venues worldwide, it is not licensed, nor monitored by any authority, which creates certain risks. If you’d rather invest in a regulated entity, we remind you that you have that option with forex broker that offer trading in digital assets (in the form of CFDs).

 

>>Trading Bitcoin with a regulated broker<<

 

Here are the advantages and disadvantages of TDAX:
   

 Pros

 Cons

 Solid number of altcoins offered

 Focus on Thailand

 THB fiat and bank wire payments supported

 No leverage available

 Competitive trading fees

 Withdrawal fees

 Advanced trading platform

 

 No fees on deposits

 

 

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Traders` reviews for TDAX

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