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Triple Dice Exchange Review - is it scam or safe?

Triple Dice Exchange (TDX) Review - is mydicewallet.com scam or good cryptocurrency exchange?

RATING: 2.5 / 0 REVIEWS Triple Dice Exchange

RECOMMENDED BITCOIN BROKERS


Trading Accounts and Conditions

 

Account type Minimum deposit* Maker fee Taker fee Withdrawal fee
Standard USD 100 0.30% 0.60% BTC 0.004 / USD 25 + 0.50%

 

*Only for fiat currencies.

 

Triple Dice Exchange (TDX) offers all-in-one solution for crypto-investors: a wallet, an exchange, as well as its own digital coin, King Dice Coin. The company behind all this is headquartered in Singapore and targetsusers from China, Japan and Hong Kong.

 

The exchange offers coin-to-coin trading, but also accepts fiat currencies. Triple Dice Exchange uses 3-Factor Authentication (via Google Authenticator), but also allows anonymous trading.

 

Keep in mind that US citizens/residents are not accepted as clients at Triple Dice Exchange.

 

Triple Dice Exchange Advantages

 

Decent amount of altcoins available

Triple Dice Exchange (TDX) currently offers more than 10 altcoins for trade. These include ETH, LTC, XRP, DOGE, KDC, and more. The latter, along with LegendsCoin, are listed solely on this exchange. Unfortunately, trading volumes with these unpopular coins seem rather poor

 

Cash accepted

One of the main benefits of Triple Dice Exchangeis that you can directly deposit in (and it is are free of charge) of cash out your coins in several fiat currencies. Namely, these are HKD, USD, and JPY.

 

Easy registration, anonymous trading

Registration at Triple Dice Exchange takes seconds, and also allows registered users to trade anonymously, provided that they do not use fiat currencies and do not withdraw more than the set limit (BTC 2).

 

DiceWallet offered

This is a comprehensive digital wallet that can be used on a computer, cell phone or a website. It supports all currencies available on the TDX and is developed by the same company.

 

Triple Dice Exchange Disadvantages

 

Comparatively high fees

Triple Dice Exchange charges market takers with 0.6% and market makers with 0.3% per trade, which is significantly higher than what most exchanges charge. Many of them don't charge market makers at all, and the average trading fees in the sector are in the range 0.15% – 0.25%.

 

On top of that, Triple Dice Exchange charges withdrawal fees, which must not be underestimated either – Bitcoin withdrawals are charged BTC 0.004, and those in USD dollars - $25 + 0.50%.

 

Not regulated

As the legislative framework on Bitcoin and crypto-exchanges in most countries worldwide is still in progress, they largely remain without an official legal status. The Monetary Authority of Singapore (MAS) has undertaken important steps in this regard, however we still have not heard of a crypto-exchange in the city-state that is licensed.

 

You can find a summary of the current situation in Singapore, as well as some reviews on other local exchanges below.

 

>>Singapore cryptocurrency exchanges<<

 

Poor platform, no charting

Triple Dice Exchange’s has a web-based trading platform that is simple and easy to use, but seems too basic. It lacks basic features, such as charting, market depth window, etc. It only has an order book and a buy and sell button. Here is a snapshot:

 

 

TDX’s trading platform. Click on the image to zoom-in.

 

No margin trading

Triple Dice Exchange does not offer leverage, which is most often the case with similar crypto-exchanges. You can check out the options forex brokers provide in terms of margin Bitcoin trading, if you want to use some leverage.

 

>> Brokers offering leveraged Bitcoin trading <<

 

Do keep in mind that leverage is not necessarily a benefit. Trading on margin involves a lot of risks, as it multiplies both potential profits and losses.

 

Conclusion

 

triple dice exchange is a relatively small exchange active in Singapore, Hong Kong, Japan and China. Although it supports fiat currencies, the most traded markets on the exchange are crypto-to-crypto ones witrh Bitcoin. On the downside, we find the platform missing some basic tools, such as charting, and the applicable fees rather high.

 

The company behind the brand, Singapore-based Mythology Holdings Pte. Ltd, also offers a wallet and its own digital token, King Dice Coin. The company is not licensed, nor overseen by any governmental authority, as cryptoicurrency legislation in Singapore is still in progress. For those of you who prefer trading with a regulated firm, there is yet another option – to trade cryptocurrency CFDs with a forex broker.

 

>> A list of regulated bitcoin forex brokers <<

 

 

Pros Cons
Decent amount of altcoins offered Comparatively high fees
Cash accepted (HKD, USD, and JPY) Platform missing basic features
Anonymous trading option No margin trading
A mobile wallet app available (DiceWallet) Not regulated

 

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Traders` reviews for Triple Dice Exchange

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