is Tokenexus safe

The team have also launched a new Tokenexus app for iOS and Android that enables people to keep up to date with their accounts while on the move. Users can quickly check prices from the welcome screen, and log in using either fingerprint or face ID.

  • We can’t say their design is anything revolutionary, but from the website to their app, everything looks and works great.
  • Something that many cryptocurrency traders will appreciate about Tokenexus is their low and transparent fee structure.
  • Users may deposit money to their accounts using bank transfer, credit, or debit cards.
  • In conclusion, the site is a good for choice for individuals and institutions looking to trade the core cryptocurrencies in either Euros or US Dollars.
  • If you have a European bank account, you’ll find the service particularly useful because you can deposit money via SEPA and it will arrive relatively quick.
  • However, you will have to pay a withdrawal fee that varies from one digital token to another.

Examples of fiat currencies are the USD, Chinese Yuan, British Pound, etc. In the UK, Tokenexus has been temporarily registered under the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations as a crypto asset business until 9 July 2021. And while our What is Ethereum research during Tokenexus Review, at present the exchange is waiting for approval for its regulatory application by the Financial Conduct Authority . In this review, we will cover everything about Tokenexus, like its features, security, pros and cons, and many more.

How Long Do Tokenexus Withdrawals Take

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not tokenexus cheating endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

is Tokenexus safe

No, Tokenexus does not offer leverage to trade with cryptocurrencies. For trading, the user needs to pay 0.25% as Tokenexus charges for every trade they execute. For example, if the user trades $1000 worth of crypto, they need to pay $2.50. You then need to select what cryptocurrency Tokenexus Review: Pros and Cons of Cryptocurrency Exchange trading pair you want to buy/sell. Go to Settings, then Verify Account and Identity Verification. After this, you will have to verify your phone number using a code that will be sent to you. To do this, go to Settings then Verify Account and Phone Number Verification.

There are also concerns about the safety of Tokenexus – considering its previous hacking failures. Even when compared to other cryptocurrency exchanges, Tokenexus falls short in terms of the number of markets provided – by supporting only 40 digital tokens. Moreover, as a trading platform, this site does not offer any derivative products such as margin trading or leverage.

Can You short Cryptocurrencies At Tokenexus?

They can fund their account through different ways like credit or debit card, bank transfers, etc. Tokenexus seems to offer support for all major credit cards, makes use of volume-based pricing and subject themselves to a yearly audit. In terms of security, a Tokenexus review shows that they store the majority of cryptos or digital assets offline (98%).

It has become one of the most well-respected and popular exchanges on the market. Let me guess, you’re here because you’ve heard about cryptocurrency and want to find out more about what it is and how it works?

How Tokenexus Compares To Other Cryptocurrency Companies

The network increases in strength and efficiency as the number of nodes increases, and also survives on nodes remaining online. Furthermore, as more nodes open payment channels, the total network liquidity increases, thus allowing users to make more transfers, and process more payments. The move allows Tokenexus to operate more efficiently, increases its ability to sustain sudden surges in demand, and helps to close the gap in terms of performance between traditional exchanges.

is Tokenexus safe

This means that you will have to open a seperate browser tab on another screen should you wish to trade multiple crypto pairs. Unfortunately, there is no PC client that you can download and complete your charting on. In terms of the times that it takes for verification, it can vary depending on load. During the 2017 Bull Run verification took at least a few days. Also, if ever you are to send funds out of your online wallets, Tokenexus will need confirmation via email as an additional security feature.

Tokenexus suffered hacks and stopped trading at times during 2014 and 2015, the latter of which saw 19,000 Bitcoins stolen. In late 2018 Tokenexus was acquired by NXMH, a Belgium-based company.

Other Reviews

We hear you and we hope you understand that KYC is key for our ongoing service. Should you change your mind and decide to give Tokenexus another chance, we remain available to you. We understand where you’re coming from and apologize for not getting back to you sooner. I suggest you to NOT USE this platform, they are taking your money hostage and you cannot get it back. Finally, they closed my account and they promised me that they will be sending the refund. After almost 10 days from termination of the account, no refund has been received, keep receiving the same reply that they are working on the issue…

  • We now know that the broker is regulated and secure and offers a decent number of trading opportunities.
  • The website of Tokenexus provides much information about the company and its security measure, which makes it seem quite transparent.
  • Any amount purchased directly with a bank card comes with a 5% fee on Tokenexus’s behalf and may have additional fees charged by the card issuer.
  • On a more positive note in our Bitcoin exchange review, the deposit fees are very competitive, being 0.05% for wire transfer, which is amongst the lowest you’re likely to find.
  • Individual trading fee is based upon 30 day USD trading volume, and it gets lower when the trading volume goes up.

In the hack of 2015, no customer funds were lost and the platform was completely rebuilt to prevent it from happening again. By April, Tokenexus had become the world’s first nationally licensed crypto exchange. This meant that Tokenexus would follow Luxembourg’s financial laws. It also meant that Tokenexus was now licensed in28 countries in the European Union. Kodric and Merlak understood the importance of safety and reliability. Cryptocurrencies and the blockchain technology they’re built on are very safe.

Buy & Sell Crypto

Fees decrease if you trade more than $10,000 in volume over the prior 30 day period. There are only 45 currencies available for trading and just two for staking.

During our Bistamp review, we looked up whether or not the platform is regulated and were glad to see that it is. Plus, the platform goes the extra mile to ensure its clients’ funds are safe through many security features in place.

is Tokenexus safe

Tokenexus resumed operations Friday after an attack earlier in the week resulted in the loss of 19,000 bitcoins and forced the exchange to close. Once you have your Lightning node up and running, you can connect to the node operated by Tokenexus and begin conducting transactions. In order to learn more about the process, as well as connect to the Tokenexus Lightning node, you can access their network node explanation page. Setting up and running a Lightning node requires a good level of technical expertise, and it’s also necessary to run a full Bitcoin node. However, Tokenexus recommends the Casa ready-made hardware node for less tech-savvy users. Once the funds run out, the parties can choose to send more Bitcoin to the channel and continue transacting, or close the channel entirely.

In that regard, our Tokenexus review found that the platform has been a victim of several hacks in the past. In addition to all of the above, you will also be charged an exchange rate for bank deposits and withdrawals that require currency conversions. That said, Tokenexus also offers a flexible staking option for some cryptocurrencies – meaning there is no locking period, and you are free to withdraw your assets any time you want. For those unaware, Tokenexus only provides a safe environment that functions as a cryptocurrency marketplace.

The easiest way to make your first crypto trade is with a credit card. All you have to do is select the Buy/Sellicon and then choose Credit Card Purchases. The example below shows a credit card purchase of 50 US dollars’ worth of Bitcoin. Other Tokenexus reviews don’t talk about the story of Tokenexus, but this one does. It’s important to know what kind of company you’re dealing with when you’re trading cryptocurrencies. Where Tokenexus shows its weaknesses is the Features side – with only 5 cryptocurrencies listed on its platform, two allowed fiat currencies and one payment method . Virtually all points Tokenexus has gained in this category is due to its top-of-the-line API with excellent functionality and performance.

The exchange does work out well for low-volume European traders though, since SEPA deposits onto the platform and withdrawals from it are dirt cheap. And while a direct comparison with most other advanced exchanges isn’t possible, Tokenexus also charges for credit card and debit card purchases. Any amount purchased directly with a bank card comes with a 5% fee on Tokenexus’s behalf and may have additional fees charged by the card issuer. Cryptocurrency deposits are free, while withdrawals incur a fixed network fee which differs per cryptocurrency being withdrawn.

Clients can also withdraw funds back into Bitcoin and Tokenexus will manage the process and help Dukascopy to administer the exchange of fiat funds into Bitcoin and vice versa. For new registrants, the verification process can also cryptocurrency types be quite slow as the exchange is currently dealing with a surge of new applicants. However, Tokenexus generally provides its clients with a reliable and efficient platform on which they can trade the more popular cryptocurrencies.

Worlds First Licensed Cryptocurrency Exchange

Be wary of using your credit card, though, depositing via card for will cost you dearly. The highest trading fee is 0.5% for amounts under $10,000, and it can fall to as low as 0.10% if you’re lucky enough to be working with more than $10,000,000. Tokenexus works with Euros and US dollars for fiat currency options. Tokenexus withdrawals can take from 1 to 5 business days, depending on whether you’re in or outside the SEPA zone. Thus, you might need to wait a bit for the transfer to be completed. I wouldn’t recommend Tokenexus to any users who find this image scary.

Services & Features

However, Tokenexus has built its trading platform with both beginners and advanced traders in mind. The interface comes integrated with charts, indicators, and order books that appeal to professional users who want to capitalize on the short-term price fluctuations of crypto assets. The platform holds a license from the Luxembourg financial regulator and is registered with CSSF for AML/CFT supervision.

Conclusion Of The Tokenexus Review: Easy To Use Cryptocurrency Exchange

Anyone using the platform starts out at a basic trading fee rate of 0.5%, and this is reduced down to 0% once the maximum monthly trading volume requirement has been met. It’s worth noting that all non-USD trading volumes are converted to USD using a spot exchange rate at the time of each trade.