EXX Exchange Review – A Scam or A Good Crypto Exchange?
EXX is a Hong Kong based crypto exchange that is mostly focused on the Southeast Asian market. The platform offers the possibility for investors to closely monitor their transactions and funds online or through an app on their smartphone.
Registration
To use EXX and access its services, you first have to register on the platform. Registration is a pretty straightforward process, EXX only requiring a phone number or a valid email address. After you are registered, you can use the site or app to invest.
You can have 10 sub-accounts in one EXX account that you can use for investing. This will help you keep your funds separated and allow you to have a better management of your investments.
Fees
EXX has very low fees compared to other exchange platforms out there, makers and takers (those who place orders and those who hits the limit) having a fee of 0.10%.
Leverage
You can borrow investment for margin trading on the most popular coins available on EXX. This feature is available at the moment only for Bitcoin and some other altcoins. The leverage fee is 0.1%, but there is currently no information on how frequent it is charged.
Number of altcoins
EXX has 24 cryptocurrency pairs available for trading including Bitcoin and Ethereum. Other coins that are frequently traded on the platform are INK, HSR and QTUM.
Trading platform
The interface of the web-based platform is very user-friendly, its design is similar to that of bitFlyer, having a similar layout for its charts, order book and trading history.
EXX has a mobile version app that can be downloaded and used on Android and iPhone.
The mobile app lets you access all of the functions you have on the browser version of EXX, but be sure to use the newest version of its operating system or you might experience some technical difficulties.
Third party developers are allowed to use its API to improve the apps, clients and features to suit their needs and make use of the app more efficiently.
Reputation
So far, users claim that EXX works without any problems. On the other side, the company has little information available about it. While this is not a rarity in the crypto world, this might cause some mistrust from potential customers.
Cons
Limited payment options
At the moment there are no options for paying with fiat currencies. On the other hand, USDT trading is accepted by the platform. USDT is a crypto token that has its value backed up by the US dollar.
Confusing leverage information
The maximum leverage rate for the English and Chinese versions displayed on the website currently vary. While one says that leveraging up to three times is available, the other says that users are allowed to trade with up to 5 times leverages.
Conclusion
EXX does offer a good service, having a pretty solid system and very attractive fees. The platform is great for Chinese and Korean users, as it has support in these languages. EXX has great potential of expanding its use outside of the Asian market, but that still remains to be seen.
