Tidex is a crypto exchange founded in 2017, and it has a trading volume extending up to $2 million per day. It is one of the top 50 crypto exchanges, popularly known for being user-friendly. The fee structure on Tidex is transparent and way below the global industry averages and offers more than 100 pairs. In this Tidex review, we will discuss the most essential features of the exchange and find out how to use the platform in the best possible way and, the types of fees charged.
|Supported Fiat Currencies||Yes|
|Minimum Deposit||Depends on Currency & Payment Methods|
|Deposit Fees||Depends on Currency & Payment Methods|
|Transaction Fees||Depends on Currency & Payment Methods|
|Withdrawal Fees||Depends on Currency & Payment Methods|
|Customer Support||24/7 via Phone or Email, Social media, & Ticket System|
What Is Tidex?
Developed in 2017, Tidex is a leading cryptocurrency exchange based out of London. It is operated and owned by Elite Way Development LLP, an England-based Fintech company. The platform provides traders an opportunity to buy and sell cryptocurrency tokens and assets on the exchanges. There are over 100 trading pairs available on the platform, and it is popularly known for its user-friendly and straightforward interface. The platform is presently generating almost $2 million trade every day. They are dominated mainly by the Ethereum and Bitcoin and Waves and Bitcoin pairs with over $16 million trades every day. The exchange team has developed an easy-to-use and intuitive interface that facilitates easy tracking and control of trading activities.
Tidex Platform Interface
How Does Tidex Work?
The Tidex registration works similarly to other crypto exchanges. The process is highly transparent and requires a few minutes to complete. New traders need to visit the official website and fill in the registration form to start trading on the platform. To do this, select Get Started on the Login page and fill in the form with your email ID and password. Confirm the password and enter a nickname, phone number, and PIN code. Check the I Agree on the checkbox and click on Create an Account button. This will send a confirmation email to the registered email ID. On confirming the confirmation link, the user will be asked to log in again using the email ID, password, and authentication code sent to the registered email ID. And this verifies the email ID and instantly creates an account on the trading platform.
The Tidex reviews offer impressive features that make trading smoother and more accessible for all kinds of traders. Some of the features have been mentioned below: –
This is a notable feature of the platform as it uses a web-based cryptocurrency exchange platform. The user interface is easy and clutter-free with a variety of trading functions. Additionally, there are advanced trading features such as the trading history, responsive charts, different design and time frame options, order book, and several indicators for technical analysis.
The exchange platform offers a good variety of trading options for both beginners and high-volume traders. The users have full access to market orders, supporting limits, and margin trading, along with a transparent and straightforward fee structure. The platform charges a flat fee of 0.1% market takers while no fee is charged for the market makers.
The exchange offers its traders an excellent application programming interface (API) that enables cross-platform trading and makes it accessible for all traders to trade via tablet, mobile, and desktop. The API technology allows traders to perform daily transactions in a setting they find the best and keeps a record of their trading accounts on the go.
Tidex Crypto-Backed Loans
One of the best features traders can enjoy on the platform is the Tidex Crypto-Backed Loans. This service allows users to get a Tidex crypto loan with their available Bitcoin balance. The page consists of a calculator that measures the rate at which traders wish to borrow. Traders can borrow USD Tether (USDT) crypto coins (the minimum borrowed amount is fixed at 100 USDT) by keeping Bitcoins as collateral. So, it is a form of Bitcoin loan. The daily interest rate changes and the interest rate was about 0.0305% at the time of writing. However, to avail of the crypto loan, users need to login into the account, and since it is a Bitcoin loan, they should have a BTC balance in their wallets.
Note that Tidex loans are flexible, which means there are no statement deadlines, and the platform does not check the user’s credit history before releasing the loan. So, this loan service is extremely quick, and the users can get the loan instantly and hassle-free.
Tidex Crypto backed Loans
Another notable feature that makes it one of the best trading platforms is the StakingBox. Platform users can earn substantial passive income through flexible staking of up to 45% per year. Staking is a way of making passive income by storing crypto assets in digital wallets. The user gets rewards for the service they render to the network.
The Tidex staking process involves: –
- Selection of a chosen cryptocurrency to be staked.
- Adding funds to the staking.
- Submitting to the staking and getting regular passive income from the staking.
- The entire StakingBox process takes not more than 7 minutes gets, and the users can withdraw their crypto assets at any time.
Tidex Review: Pros and Cons
|Supports more than 70+ cryptocurrencies.||No verification process.|
|Low transaction fees.||Ineffective customer support team.|
|Supported on mobile, desktop, and tablet.|
|Optional 2-factor authentication security feature.|
Registration Process of Tidex
Registering on the platform is a straightforward process. All users have to do is follow the steps mentioned below:-
- Go to the Tidex website and select the green tab “Create an Account.”
- The next step involves filling in a registration form with email ID, password, and nickname. Users may enter their phone numbers too, but that is optional.
- An authentication code will be sent to the registered email ID in the form of a link. Click on the link, and it will automatically take the user to a new page, asking to enter the email ID and password once again. Enter the details and press login.
- That is all! The Tidex registration process takes less than 7 minutes, and the account will be ready to use instantly.
Tidex Registration Process
Every trading platform charges its users a trading fee which is usually a percentage of the trade order. Generally, exchanges charge different fees for the takers and makers. Takers are those who take an order, whereas makers add orders to an order book. Tidex charges a 0.1% trading fee for the takers while no fees are charged for the makers. Hence, it promotes liquidity on the exchange.
Coming to the withdrawal fees, for every Bitcoin (BTC) withdrawal, the platform charges a withdrawal fee of 0.0005 BTC, which is slightly lower than the global industry averages of 0.0008 BTC. More exchanges are charging 0.0005 BTC withdrawal fees for Bitcoin withdrawals, making Tidex more competitive in terms of withdrawal fees.
Tidex accepts deposits only in the form of cryptocurrencies. This means that users always have to maintain crypto deposits on the platform, and to motivate more deposits, it does not charge any deposit fee.
Tidex Deposit and Withdrawal Method
To start making deposits on the trading platform, log in and click on the Deposits and Withdrawals tab and select the cryptocurrency and click Deposit. Users should copy their deposit address and paste it into their best crypto wallets. Make sure that the crypto coin to be deposited is supported on the exchanges.
The withdrawal method is as easy as the deposit method. Select Deposits and Withdrawals once again, choose the coin to be withdrawn and click Withdraw. The next step will display the available balance, the wallet address, the total crypto balance, the withdrawal amount, and the withdrawal fee. Users need to enter the required details and press the Withdraw tab. Note that once the withdrawal process has been initiated, it can not be canceled.
Tidex Loyalty and Referral Programs
Tidex offers impressive and advanced trading features and provides loyalty and referral programs to its users. The loyalty scheme is executed through TDX or Tidex tokens that are native to the exchange. Tidex is a Waves-based blockchain and offers certain significant benefits to its token holders. For example, a TDX holder is entitled to discounted fees. The discount rate may go up 90% if they hold more than 1,00,000 TDX on the exchange.
Furthermore, TDX holders also benefit from staking as rewards are given to them. This way, TDX gets released into the network. Holders can hold a minimum of 500 TDX for a minimum period of 24 hours. TDX holders with 500 TDX may get 5% every year. In addition to this, users can hold more than 100 Waves tokens for at least 5% per annum. Hence, Tidex can be used for staking both Waves tokens and Tidex tokens.
Lastly, the affiliate or referral program is just like the programs provided in other cryptocurrency exchanges. A Tidex registered user will get a referral link after signing up on the exchange and can share the links to other traders and invite them. For every trader who signs up using the referral link, the existing trader who sent the link will get rewards that range from 25 to 30% of the commissions paid by the referrals.
Tidex Referral Program
Tidex Trading Services
Tidex trading enables users to buy crypto tokens and buy/sell supported crypto on the exchange. The trading engine can be accessed through any browser, but since Tidex does not have a mobile app, all tasks are accomplished through the desktop version. Users should go to the Markets page and select their desired trading pair to use the trading engine. The interface is also impressive as it displays interactive charts for crypto-asset analysis, a buy/sell box, and pertinent news relating to the market. Additionally, traders can place their trades either in Limit orders or Market orders.
Tidex Exchange API
Talking about API or Application Programming Interface, it is justified to say that the API on Tidex trading is attractive, Note that the currency pairings have a hyphen (-) between them, and users can add more than one pair. However, they can not submit duplicate pairs. Every API reply is in the JSON format, and the information is instantly cached within 2 seconds.
Tidex Mobile App
This is probably one of the most significant drawbacks of Tidex – the platform has not yet launched a mobile application. But the trading engineer makes it up for this drawback as it is designed to make the platform as mobile-friendly and viewable as possible. Users can use the mobile site on any device, and it is slightly lighter than the desktop version, but it lacks several significant functions of the browser-based version.
Tidex Security and Privacy
This review provides an index that is concerned about its client’s security, and hence, it has taken careful steps toward privacy and security features on the platform. The data encryption technology takes care of its clients’ personal information. Furthermore, Anonymous Data may be recorded from Personal Data records simply by eliminating personal information like the client’s name, making it personally traceable only to the clients. The platform uses this Anonymous Data to evaluate the requests and uses the trends for content improvement. Note that Tidex trading does not sell, rent or share user information with 3rd-party agents.
Tidex Customer Support
Every trader using Tidex has full access to customer support throughout the year. Additionally, the exchange platform can also be reached using several social media platforms. It has an Email address for business proposals and customer services Support ticket system.
Tidex Customer Support
Tidex Review: Conclusion
To conclude this Tidex Exchange Review, it is fitting that the platform is relatively new and has a great crypto exchange list market, and it is still struggling to make a position. The best thing about this company is that it offers several crypto coins that can be smoothly traded, and the beautiful user interface makes trading experiences pleasurable. Nevertheless, the problems related to the security of Tidex are still not entirely resolved and articulated, and there have been high rates of hacking. Tidex is continuously trying to resolve those issues as it desires to compete with the rival exchanges.
Is Tidex Safe?
Yes, Tidex is safe, but it has yet to update its security measures and features to become free of hack attacks. Hence, for traders who buy tokens based on BUY and HOLD, it is safe to transfer their funds to an off-exchange cold storage wallet and be the sole custodian of their holdings.
Where Is Tidex Located?
The trading platform does not specify any location; still, according to specific sources, it is located in the Cayman Islands in British while others claim that it is headquartered in the United Kingdom. Other sources say that it is located in San Francisco and that it is a Russian exchange.
Can US citizens Use Tidex?
The platform nowhere mentions that US traders are prohibited from the exchange. Hence, US traders can use Tidex and trade smoothly on the platform.
How To Use Tidex?
Traders can start trading Bitcoin and WAVES trading pairs on the Tidex exchange by clicking on BTC and then search for WAVES. It instantly displays the quantity of WAVES that you will get over and above the BTC amount. Press Buy to initiate the trade. The screen will display a confirmation message, press Yes to confirm your trade.
How Do I Withdraw & Deposit Money From Tidex?
To start depositing and withdrawing funds from the platform, investors must first create an account with their details and verify their email ID. They also have to maintain a minimum balance on the account to start trading and withdrawing crypto funds.
Note – Tidex Reviews are not to be considered as an endorsement or investment advice of any kind. Traders are requested to seek financial advice from experts before making trade decisions on digital platforms.