Vinex Exchange ReviewCentralized
Vinex is a cryptocurrency exchange based in Singapore. They offer low fees, but unfortunately they also offer low liquidity and trading volume. In addition to BTC and ETH they offer a handful of alt-coins for trading. Vinex’s security features include keeping the majority of funds in air-gapped cold storage, and round-the-clock site monitoring provided by an auditing program, with the stated goal of spotting and blocking suspicious activity before it becomes an issue. It appears that Vinex has put their focus on the ASEAN region market, especially Vietnam, but it does not appear that they have reached the level of market penetration that they were hoping for.
One of the biggest advantages that Vinex has is its trading fees. It offers a flat trading fee of 0.10%, meaning both takers and makers are charged the same fee. 0.10% is significantly low, considering the fact that the global industry average is 0.25%. It’s important to note that most competitive exchanges charge fees averaging around 0.20%-0.10%. This puts the exchange up there with the other competitive exchanges. As for withdrawal fees, the exchange charges a fee of 0.0008 BTC, which is in line with the global industry average. This does not necessarily provide Vinex with a significant advantage, however, it is still an appealing number. Fiat-crypto trading is not allowed on this platform, which could deter certain new cryptocurrency investors from using this platform, as it would not be as practical for them. Users can deposit cryptocurrencies to their accounts without any deposit fee.
Vinex prides itself on its security, high monitoring, and the privacy that it provides to its users. Its website claims that users’ funds are only “used to facilitate trading through [their] account”, meaning the exchange does not necessarily store users’ funds.
Information on the team behind the exchange is not disclosed online, which could pose a significant risk for some users, as not knowing the background information and experience of the team decreases the trustworthiness of the platform as a whole. Lack of transparency usually indicates a higher risk of fraudulent activity, as users do not know who to hold accountable in such a case.
Vinex supports a website that is quite simple, though it doesn’t necessarily feature an aesthetically pleasing interface. Everything that users could need is present on the homepage. The website offers an impressive option of 8 different translations, which is helpful for global users and renders the exchange quite user-friendly.
Vinex Exchange Review, Trading Fees, Deposit and Markets
24h Trading Volume
Vinex Total Trading Pairs
Vinex Margin Trading
Vinex Deposit Fees
Vinex Trading Fees
Maker 0.20% Taker 0.25%
Vinex Fiat Deposit
Accepted Payment Methods
Crypto to Crypto Only
Vinex Native Token
Native Token Smart Contract
Vinex Trading Markets
Vinex Stablecoins Trading
Vinex Exchange Rating Analysis
Last edit 28.11.2019
Vinex, an exchange based in Singapore attempts to attract customers by offering low fees of 0.1% with discounts up to 0.05%. Unfortunately, they fail, and there is zero liquidity on the exchange. There are only 12 coins to trade without fiat support.
Vinex is operated by Midas Company and fully managed by its employees. The customer support service is helpful and replies immediately for emails. There is no insurance in case of a hack and the withdrawal process is protected by an email approving the action and 2 factor authentication. This exchange is of no great importance as of now and traders have nothing to look for here, as long as the exchange fails to attracts actual liquidity to the platform.
Vinex Exchange KYC and AML
Vinex Exchange KYC and AML
Personal ID, selfie with ID.
Vinex Exchange Additional Information
Vinex Establish Date