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Friday, April 19, 2024

TimeX Exchange Review: TimeXIs Legit & Secure Exchange

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About TimeX Exchange

Launched in July 2019, TimeX is an Australia-based hybrid exchange that is powered by plasma technology. TimeX is licensed by Australian government financial intelligence agency AUSTRAC to perform as a digital exchange provider. TimeX offers a range of third-party fiat gateways as well as its own AUDT stablecoin environment that allows Australian citizens to natively connect their bank account and deposit AUD to the exchange as well as withdrawing almost instantly.

How To Sign Up & Start Trading

ExchangeDetails
Exchange NameTimeX Exchange
Exchange TypeCryptocurrency
Withdraw Fee
Support24/7
LangugaeEnglish
Taker Fee 0.50% 
Maker Fee0.25%
WebsiteHomepage

How To Sign Up & Start Trading

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You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

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You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

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Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

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TimeX Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own. 

The trading fees for takers here are 0.50%. This fee is roughly double the industry average, which is arguably around 0.20% – 0.25% (or even lower nowadays). Makers, however, pay 0.25% which is more in line with the industry average trading fees (but still above it).

All in all, trading fees here are high.

TimeX Withdrawal fees

We have not been able to find any info on this exchange’s withdrawal fees either. The same warning as we made above under TimeX Trading fees is made also with respect to the withdrawal fees. 

Deposit Methods

In addition to depositing cryptocurrency to the platform, TimeX also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card). If you need an exchange accepting credit or debit card deposits, just use our Exchange Filters and you’ll find one in no time at all.

Seeing as fiat currency deposits are at all possible at this trading platform, TimeX qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.

TimeX Exchange Features

Decentralized Trading

Trading without a Central Authority or Intermediary: TimeX is a decentralised exchange that enables users to trade cryptocurrencies directly with one another.

Numerous Cryptocurrencies Supported

TimeX accepts a large number of cryptocurrencies, including Tether (USDT), Ethereum, and Bitcoin (BTC), among others.

Low Fees

TimeX is an economical solution for purchasing and selling cryptocurrencies because it has low trading fees.

Fast Order Execution

TimeX makes use of cutting-edge trading technology to guarantee quick and effective order execution, enabling traders to seize market opportunities.

Non-Custodial Wallet

TimeX provides consumers with a non-custodial wallet that enables safe cryptocurrency storage.

User-Friendly Interface

Both novice and seasoned traders may use TimeX thanks to its user-friendly interface, which is simple to use and navigate.

Advanced Charting Tools

TimeX offers sophisticated charting tools and technical analysis indicators that enable traders to conduct in-depth market study.

24/7 Customer Support

TimeX offers 24/7 customer service via email and live chat to assist consumers with any problems they could run into while using the platform.

TimeX Conclusion

As a decentralised cryptocurrency exchange, TimeX offers a variety of features and advantages to investors and traders. TimeX provides a dependable and effective platform for buying and selling cryptocurrencies with its broad selection of supported cryptocurrencies, cheap trading fees, quick execution, non-custodial wallet, user-friendly interface, cutting-edge charting tools, and round-the-clock customer service. TimeX offers consumers more control over their money and does away with the requirement for a central authority or middleman in addition to being a decentralised exchange. Overall, TimeX is a platform worth taking into consideration if you’re searching for a decentralised exchange that is safe, quick, and easy to use to trade cryptocurrencies.

TimeX FAQ

What is TimeX?

TimeX is a decentralized cryptocurrency exchange that allows users to buy and sell cryptocurrencies without having to go through a central authority or intermediary.

What cryptocurrencies can I trade on TimeX?

TimeX supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and many others.

How much does it cost to trade on TimeX?

TimeX charges low trading fees, making it an affordable option for buying and selling cryptocurrencies.

Is TimeX safe?

A: Yes, TimeX uses advanced security measures to protect user accounts and funds, including two-factor authentication and SSL encryption.

Does TimeX have a non-custodial wallet?

Yes, TimeX offers a non-custodial wallet that allows users to store their cryptocurrencies securely.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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