EXX Exchange Review 2021

Introduction

Tailored to provide an anonymous and quick way to trade in cryptocurrencies, EXX was launched in 2017, focusing on Asian investors by its parent brand, the EXX group. EXX stands for Exchange X, and it is a platform that offers various altcoins for individuals and users to choose from.

EXX Exchange Summary

Headquarters Hong Kong
Found in 2017
Native Token None
Listed Cryptocurrency 50+
Trading Pairs 60+
Supported Fiat Currencies CNY
Supported Countries Most of All
Minimum Deposit N/A
Deposit Fees Free
Transaction Fees 0.20%
Withdrawal Fees Depends on Currency
Application Yes
Customer Support 24/7 via Mail, Help Center, & Live Chat

Based out of Hong Kong, the EXX exchange platform aims to offer a seamless and efficient way for advanced traders to deal in cryptocurrencies while still appealing to the masses and even beginners. The platform can be accessed through numerous mediums and comes with a competitive fee structure.

Quick Overview of EXX Exchange

  • EXX is a cryptocurrency exchange that was launched in Hong Kong in 2017.
  • EXX offers a platform for users with a lower price chart than the industry average pricing.
  • Exchange X can be accessed through either their website or their mobile apps.
  • It can be safely assumed that most users do not significantly support fiat currencies, and the only CNY appears to be present on the platform.
  • The exchange offers a diverse variety of trading tools for the power users as its goal is to keep things simple and optimal.

What Is EXX?

EXX or Exchange X is an exchange platform that focuses only on cryptocurrencies and offers over 50 coins for individuals to buy or sell. It is one of the cryptocurrency exchanges which offers low trading fees. It has partnered with various organizations (including business and media tie-ups) since its inception back in 2017. The payment methods on the platform are somewhat limiting as the fiat currencies are only supported with CNY trading pairs.

Despite being one of the relatively newer cryptocurrency trading platforms, EXX has gathered a high amount of traction due to the above-mentioned strategic partnerships as it continues to draw in new users.

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How Does EXX Work?

EXX exchange serves as a platform for trading cryptocurrency for Asian investors (primarily), where the users can choose from a long and impressive list of supported cryptos and coins (more than 50). In addition to this, the platform also offers other services related to trading and can be used to trade efficiently.

The platform charges free for the services that include deposits as well as withdrawal fees. These fees are not substantial and can seem lucrative while being compared to some of its more premium industry rivals. EXX has also been known to store the data offline, in cold storage, while on the user side, the data is protected through a 2FA (two-factor authentication) safety measure.

Is EXX Regulated?

As Exchange X or EXX is located in Hong Kong, it is subjected to local laws and regulations. EXX is governed by its founding group (EXX group) and is a centralized platform where the users are not the ones who govern the platform. Often the exchange has been seen to continue its operation with a lack of transparency due to its privatized nature and a lack of any governance token or other international supervising body. Lately, the users have noticed an increased lack of transparency with the platform, and the funds have been ‘stuck’ or ‘lost’ on the platform on several occasions.

The support team has not been of much help to the individuals, suggesting an immediate need for strict and firm regulations.

Features of EXX

  • EXX exchange offers various features for its users, and these also include a method for the users to win crypto and store the reward in a crypto wallet. For security, the platform has two features (cold storage and 2FA) which might be the reason behind its seemingly high safety standards and a lack of any significant security breach.
  • Through EXX, users can also mine cryptocurrency with the help of cloud computing. Mining will enable the users to dig and accumulate Bitcoin on a daily/regular basis. There is also a feature for undergoing transactions through a contractual model.

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Services Offered by EXX

  • EXX has paid most of its attention and resources in offering an unusual amount and kind of services to the users. Specializing in trading services for most known altcoins,even margin trading. Exchange X has been making waves in different crypto markets such as the HSR marketplace, USDT markets, etc.
  • These services include quick and easy trading methods, an easy-to-use platform that can be navigated seamlessly, and other exchange alliances with other cryptocurrency exchanges.
  • EXX mall is yet another unique and divisive service through which individuals can buy objects of daily needs in exchange for their crypto assets.

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How to Use the EXX Exchange?

The individuals who wish to use EXX would be advised to have cryptocurrency in the first place as dealing with fiat currencies on the platform might be quite a tricky and cumbersome task, provided it goes through at all. For using the platform to buy or sell crypto assets, the users can simply either create their account or log in to their existing account with the platform and trade crypto from their account balance.

There are multiple crypto categories for individuals to select from and start trading. Through the ‘deposit’ or ‘withdrawal’ button on the platform, users can make any transaction by entering the amount of cryptocurrency and their wallet address (in the case of withdrawals).

EXX Exchange Review: Pros and Cons

Pros
Cons
EXX exchange brings an efficient and optimal way of trading for experienced users. The platform lacks support for different fiat currencies.
The user interface can be deemed easy to use for any individual, even if they lack experience in the domain. Few of the features on the platform   have not been translated well to English as it has been still focussing on a primarily Asian (specifically Chinese) user base.
EXX offers competitive pricing for the various services that it provides the users with. The platform does not have a fully explanatory help section, and the users would have to reach out to the team for any issue.
EXX supports a large number of cryptocurrencies and coins with versions of the trading ecosystem.

Creating an Account With EXX

The individuals who wish to trade through the top crypto exchange that is EXX must create an account with the platform before starting trading. As the account is created, individuals must also go through a verification process set up by the team behind the platform. It has to be done on priority for the users who wish to start trading immediately.

Remember that users can only start depositing funds post-creating post-creating an account and not anonymously. EXX also allows the users to create sub-account within their primary EXX account, which can then be managed differently or cater to a distinct set of assets or portfolios.

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Buying/Selling Cryptocurrencies with EXX

Users can start buying and selling through EXX by either using the website platform or the mobile applications available for free on iOS and Android devices. The exchange rates vary across the platform, and thus, the platform shows a live rate for exchange values that might shed some light on the estimates of the transactions where the users intend to buy or sell their crypto assets in the marketplace. 

EXX Exchange Fees

EXX charges a low fee from the users, and the transactions can be more profitable due to this feature of the platform. Although the different kinds of fees associated with trading on the platform differ, a withdrawal fee requires urgent notice and mention.

This is because there is a maximum withdrawal limit on the daily transactions. No fee would allow the individuals to withdraw beyond a certain point (fifty in any transaction). The overall fees for a few select transactions are about 0.20%. The deposits do not come with a fee on the platform and are free of charge. 

Most of the transactions that the users undertake on the platform are merely charged 0.20%. A fare raising rate chart is available on the website that also mentions the corresponding charges for various cryptocurrencies and coins.

For more information on the fee structure of EXX exchange click here.

EXX Exchange Deposit and Withdrawal Methods

When it comes to depositing or withdrawing from the platform, the users can use a digital (cryptocurrency) wallet to deposit funds to their respective accounts. For withdrawals, apart from the maximum limit of fifty per transaction, the process is quite intuitive and straightforward. After selecting the option to withdraw, the users can essentially enter the number of assets they wish to withdraw and complete the transaction in a few simple steps.

EXX Supported Cryptocurrencies & Countries

The EXX list of supported cryptocurrencies is a long one, and it is one of the reasons behind its increasing popularity. The users who wish to operate on a single cryptocurrency exchange while not having to deal with the limiting amount of supported coins are the ones who would benefit more from the platform instead of the individuals who seek a platform that has a niche in terms of a cryptocurrency they enable trading. 

EXX Exchange Trading Platform

The trading platform of the EXX exchange is relatively easy to use, and it has been designed in such a manner that most experienced users would find it efficient and quick. The versions of the leading trading platform add a touch of versatility and options. Furthermore, the placement of various trading tools and services has been such that it enables an intuitive flow of user experience.

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EXX API

Like other cryptocurrency exchanges, EXX also provides various APIs for the developers, who can then use them for their intents and purposes. The two major APIs (application programming interface) made available by the exchange are Rest API and Websocket API. As these names suggest, these APIs can either be embedded within the web’s socket layer or simply be used to channel the information.

EXX Mobile App

The EXX exchange has a mobile app for both the leading mobile operating systems, namely, Android and iOS. These apps can serve as the entire trading terminals for users because they bring the whole functionality of the platform to mobile devices. Both of the applications are available for free of cost on the corresponding app stores.

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EXX Security & Privacy

The platform has been paying attention to its security front. It has been known to store information on cold storage, which can not be accessed online and thus, are less prone to cyber-attacks or vulnerabilities. For individuals, the platform offers a 2FA authentication method.

Although the security and privacy features are at par with the industry standards, the users have been noticed complaints about the disappearance of funds from their accounts as they transfer them, and the updates are not reflected in their wallets. This might not necessarily be a security flaw but does raise a concern regarding the safety of users’ funds. 

EXX Customer Support

The platform’s customer support is claimed to serve around the clock with a prompt presence, but the support team has not yet solved every issue regarding the vanishing of funds. The team can be reached through many social media channels, including WeChat (a primary digital communication mode across mainland China).

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EXX Exchange Review: Conclusion

EXX exchange can be a good exchange for the users based in Hong Kong, and China provided the team decides to solve the increasing number of user issues and complaints that have started piling during this year and also implementing Blockchain technique’s.

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FAQs

How Do I Deposit Using EXX?

To deposit, the individuals are mandated to create an account. Once logged in, the users can select the deposit button and add funds to their EXX account. The deposit on the platform is free of charge.

How Do I Make a Withdrawal on EXX Exchange?

Similar to deposits, withdrawals can be made from within the platform. After entering the amount of the crypto assets that they wish to withdraw from the platform, users must either enter the wallet addresses manually or with the help of a QR code.

Is the EXX Exchange Safe?

EXX exchange has been able to stay safe from any significant cyberattacks or hacks, but the users have reported a loss of funds, especially during transactions outside the platform. Due to this, individuals are advised to stay vigilant and do extensive research before investing their money in this platform.

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