Crex24 Exchange Review | 2019 Guide
What is Crex24?
Crex24 is a cryptocurrency exchange based in Estonia which was launched in 2017, which serves all types of traders. The platform supports trading against fiat and cryptocurrencies, featuring in its list exotic altcoins and rare pairs. The company also has a very interesting fee system that benefits market makers.
The services of Crex24 can be accessed by residents from all countries, except for those from the United Kingdom, the United States of America, Canada or Israel.
The exchange allows users to trade with over 150 tokens and coins including BTC, LTC, DOGE, DASH, ETH, ZEC, XMR, XEM, GAME, BCN, DGB, BCH, ETC, BTS, XGOX, and BTG. the following fiat currency is also supported for trading: USD, EUR, JPY, CNY, and RUB. Trading of assets such as Diamond and Gold are also supported on the platform.
EU and US customers are limited to crypto to crypto as they cannot trade against fiat.
A trade requires a maker, the one who makes the book order, and a taker, the party that places the order which matches (or “takes”) the maker’s order.
Crex24 charges market traders a fee of 0.10%, which is very low considering the industry average is around 0.25%.
But things get interesting with Crex24’s fees for makers which are -0.01%. This means that you actually get money instead of paying. Negative maker fees are a rare thing in the crypto world, and only a handful of them currently exist.
The withdrawal fees for Crex24 are not clearly specified on their website, stating that “the fee depends on the currency and the deposit/withdrawal method.”
The fee reported by users for withdrawing BTC was 0.001 BTC.
The exchange’s interface is simple and easy to navigate by users of all levels of experience. The website also has plenty of useful trading tools that can help users in their activity. Users are able to change the interface with 40 parameters, choose from 70 indicators, and select various graph types. There is also the option to adjust time limits.
Each trading pair features charts, indicators, and analysis tools from TradingView. Clients are also able to verify their trading history, current and past processed orders and payment history by accessing the “reports page” on their account.
The user can also track the price, volume, and 24-hour percentage change in price for all cryptos, coin and fiat pairs supported on the platform.
Deposit and Withdrawal Methods
Deposits can be made on Crex24 via wire transfer and credit cards. Deposit and withdrawals incur different fees depending on the amount involved and what payment method has been selected. A minimum fee rate of 1.5% is applied and there is a minimum fiat deposit of $1. The minimum fiat withdrawal is $3.
Users can make fiat deposits and withdrawals in the following currencies US Dollar, Chinese Yuan (CNY), euros, yen, or ruble.
CREX24 has a variety of payment options for fiat currency such as Bank cards, e-wallets (Skrill, WebMoney, Qiwi, etc.) and electronic processors (Neteller, Payeer, etc.).
There are also some restrictions on bank card transfers depending on your country of residence.
Crex24 employs a 2FA mechanism to prevent third-party access to user accounts. The website’s data uses SSL encryption and DDoS mitigation to ensure its protection.
Users’ crypto assets are kept in both hot and cold wallets. Funds can only be withdrawn only after the user’s ID has been verified. Also, fiat withdrawals are suspended for the next 72 hours if personal account information has been changed (such as passwords).
The exchange also sends email notifications each time you sign in along with the IPs, browser details and location of the signee.
Signup is very simple and only requires a few steps. To create an account, you will only need an email and email confirmation.
In order to trade on the exchange, however, verification will be needed. The verification procedure involves uploading a copy of passport photo ID page or selfie with the ID card, a selfie with the bank card with details of the cardholder and names visible on the photo (for deposits), and a picture of the user with the payment system and the deposit payment transaction confirmation in the background.
The support team can be contacted 24/7 via mail or through an online form. The website is available in English and in 23 other languages including Arabic, Russian, Czech, German, English, Spanish, Persian, French, Hindi, Bahasa Indonesian, Italian, Japanese, Korean, Malaysian, Dutch, Polish, Portuguese, Russian, Thai, Turkish, Vietnamese and Chinese.
The downside is that questions are only answered in English and Russian.
Crex24 is a relatively small exchange compared to its peers, but it does offer a very rare fee system that is advantageous to makers. And although it has plenty of fiat and crypto options, the service would be most recommended to Russian and English-speaking customers.