A Brief Overview
Ethfinex crypto exchange supports the trade and exchange of ERC20 compatible tokens. Based in the British Virgin Islands and founded in December 2017, Ethfinex, however, describes itself as a “Community hub for developers” block-chain enthusiasts. They also claim themselves as digital currency traders. In addition to serving as a crypto-broker seeks to create a platform where these developers can communicate and share ideologies.
Digital Assets Traded
Ethfinex supports the trade and exchange of both cryptocurrency and fiat money. Some of the popular digital assets traded here include:
- 0chain Token
- Qash coin
Clients can fund their Ethfinex accounts through bank wire transfers or out of their digital assets capital. Deposits are free. Traders get awarded with free Nectar Tokens (NEC) – the native token on the platform. Transactions attract a standard fee of 0.20% for takers and 0.01% for makers. Besides that withdrawal fees depend on the amount traded in the month.
Ethfinex website is multilingual supporting Chinese (simplified and traditional), English, and Russian languages. Moreover, the broker has a prompt and responsive customer service team accessible through email: firstname.lastname@example.org, Facebook, Telegram and Twitter handles.
- Less than average transaction and withdrawal fees
- Supports bank transfer
- Dominated by little known digital currencies
- Low trading volumes for most pairs
Ethfinex is relatively new. However, it has adopted a relatively transparent mode of operation. It starts with a known address and elaborate fee structure. The broker, however, specializes in largely unpopular digital assets. I believe it is a good exchange but would still be cautious about the type of currencies I buy here. Although most unpopular digital assets have the highest probability of turning into shit coins.