Vindax is one of the newer cryptocurrency exchanges that has gained some notoriety among Asian investors. According to the company itself, its daily trading volume reaches more than 130 million dollars. The site offers spot trading, support for limit orders, its own terminal and a coin. In this review, we will talk about the functionality of the Vindax crypto exchange, its customer reviews and main documentation.
Key information about the project
Digital assets trading platform Vindax claims to be the most streamlined company on the market offering the lowest commissions. Whether this is so – we will definitely find out later. Now we propose to proceed to the review of its legal component.
There is not a single mention of regulation on the official website of the exchange. All that is available to users is the “User Agreement” and “Privacy Policy”. This means that the clients of the site did not secure themselves in any way from losing money and understand what risks trading on vindax.com entails.
It is important to pay special attention to the available documentation. For example, it states that the administration can prohibit registration and block accounts at its own discretion and without explanation. If the account is abandoned (for unverified clients – for 3 months, for verified clients – for a year), 1% of the total balance is charged daily.
Users from Canada and the United States cannot use the services of the crypto exchange.
Trading conditions
It is known that on the Vindax trading platform, you can choose among more than two hundred pairs formed from 100+ cryptocurrencies. The main tokens are Bitcoin, Ethereum, Ripple, Litecoin, Binance Coin and others.
It is offered to use the services of the exchange on any type of device: from a personal computer to a smartphone. You can open deals in its author’s terminal. It houses various timeframes, an order book, charting tools and other essential features. Support promises to provide qualified assistance around the clock on all days of the week.
Commissions on Vindax: an overview
This cryptocurrency exchange sets two types of fees for its customers:
- for withdrawal (depends on the asset: for BTC – 0.0005, ETH – 0.007, etc.);
- for trading (up to 0.1% of the transaction amount).
VD token holders receive privileges and pay lower fees. The maximum discount is 50%. It is received by holders of more than 200 thousand exchange coins.
Registration and verification
Only adult users can open a personal account on the site. To do this, you need to visit its official website and go to the “Register” tab. The very procedure of becoming a client of vindax.com involves filling out a small questionnaire with information about your own name, surname, country of residence and contact information.
The second step is verification. Everything is standard here: uploading documents and selfies with the name of the company written by hand. The waiting time for confirmation is up to 3 days.
Depositing funds into an account
Replenishment of the client wallet on Vindax is available only to authorized users. For each separate currency it is necessary to create a separate account. Fiat crediting is not provided, so you need to have an active cryptocurrency wallet. For each coin, the exchange has set a minimum value. For example, for bitcoin it is 0.000001, which is equivalent to $0.02 at the current exchange rate. In general, this is a threshold accessible to everyone.
What do reviews say about vindax.com?
It is also significant that the clients of the crypto-exchange talk about it on the Internet. Their words, to put it mildly, are far from boasting.
And there are dozens, if not hundreds, of similar comments. All as one, users are advised to stay away from this office.
What to do with it is up to you. To be honest, the idea of cooperating with Vindax should have been discarded at the stage of checking the documentation. Any company related to finance is required to have a license, and since this one does not have anything like that, look for something more reliable.
