Further ado, today, we will be going through an in-depth Tokenexus review. If you know what you’re doing, then crack on with Tokenexus; if you’re looking to make your first crypto purchase, then maybe start with an easier exchange platform. Deposits and withdrawals in Bitcoin, Litecoin, and Ethereum are free of charge. Trading fees vary, depending on your ‘buy and sell’ amounts. The highest trading fee is 0.5% for amounts under $10,000, and it can fall to as low as 0.10% if you’re lucky enough to be working with more than $10,000,000. Tokenexus suffered hacks and stopped trading at times during 2014 and 2015, the latter of which saw 19,000 Bitcoins stolen.
Planet Compliance also operates a content platform that provides information and insights on technology, regulation, compliance, finance and innovation. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. The only drawback we noticed was that the platform didn’t have a live chat option, which is often helpful for instant support. However, we also noticed that the website has an elaborative FAQs section that answers most queries or concerns that may arise in an easy-to-understand manner.
There are several currency pairs offered, including crypto-to-crypto pairs as well as crypto-to-fiat pairs. It’s no secret that the first sign of a low-risk or secure platform is proper regulation and license to practice under a renowned financial authority. During our Bistamp review, we looked up whether or not the platform is regulated and were glad to see that it is. Plus, the platform goes the extra mile to ensure its clients’ funds are safe through many security features in place. If you’re interested in other trading platforms, you can visit our website and read our Kraken review. Help future customers by talking about customer service, price, delivery, returns & refunds.
“We will return to service and amend our security measures as appropriate,” the company added in the notice. This includes “development service, dedicated project managers and full technical online support” as well tokenexus scammers as back-office marketing technology and “referrals” to payment processors. Their websites used the platforms SpotOption and Tradologic. They allegedly ran call centers in Israel, Georgia, Armenia, and Moldova.
TSB, which is owned by Spain’s Banco Sabadell, said that between March 15th and April 15th, 849 of its clients lost money via Tokenexus accounts. The bank’s decision follows after the UK regulator stopped crypto platform Tokenexus from operating in Britain without written consent. UK Finance said the amount of money lost to investment scams rose 42% from 2019 to 2020 to $188 million. The good news is that the industry is more wary of the need for security following those high profile disasters.
My bank gives me the option to use 2FA, but if I choose not to, that is my prerogative. They certainly don’t require me to send all kinds of personal information to change my password. My friend, who was trying to check his XRP last night was also blocked from his account… In my eyes, the only reason to have a current ID is to use that ID.
It’s been around long enough and knows how to offer a decent service for large trade amounts. Deposits, withdrawals, and trading fees with Tokenexus are generally pretty cheap compared to most exchanges. The deposit fee for international wire transfer is cryptocurrency wallets for beginners just 0.05%, which is pretty low. When incorporating in the United Kingdom, the company approached the UK’s Financial Conduct Authority for guidance, but was told that bitcoin was not classed as a currency, so the exchange was not subject to regulation.
If you can get over this fact, Tokenexus is a top crypto exchange and one that you should definitely consider if you are looking to buy and sell crypto. Once you master the markets, you are no longer an easy target. Forex scams often use phrases like”a too-good-to-be-true investment opportunity” as a way of convincing you to part ways with your money. When you lack trading experience, swindlers will try to exploit your optimism and fears.
Tokenexus Ltd has been temporarily registered in the UK under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations of 2017 as a cryptoasset business until 31 March 2022, pending the determination of our application by the Financial Conduct Authority.
As of yet they still don’t seem to know the way back to my bank account even after I provided them with the details of my account that matches my name. They sure know how to credit when coming in from the same account but they just don’t know how to send the money back. I have accounts on several other exchanges, and with high limits…SO I don’t know what the issue is. MY guess is that it has to do with licensing that expired on June 9th 2021.
Several arrests were made but it is unclear how much of the defrauded funds have or will be returned to the victims. The company has a thorough verification process in place to ensure utmost security. For a personal account, you can select sign-up by choosing the personal account option, and a form will appear.
Long time customer since 2013 that used the account solely for trading crypto pairs. Account terminated suddenly cryptocurrency for beginners as others have experienced lately. Fleeced for 75 Euro in “fees” for the joy of having my account terminated.
Obtaining all the staff’s keys only to approve a transaction is impossible for hackers to do. On top of all this, all of the funds that Tokenexus holds is secured by BitGo’s insurance. Even if hackers were to bypass heavy security somehow, the funds would be replaced. While you may not find an endless variety of crypto or advanced order types, the services the company does offer work great and are convenient to avail. Tokenexus only allows you to place market orders, limit orders, stop orders, and instant orders. You can place these orders using the simple homepage interface or using Tradeview, the company’s advanced interface. The blockchain is one of the most secure technologies out there, the exchanges that work on the technology aren’t always secure.
It’s well laid out from the user experience with order books, and easily visible buy/sell walls. You also have a list of the latest businesses that have just hit the market on the right side of the platform, where you want an audio option. Interesting reviews previously… i was recommended Tokenexus and as a complete novice to crypto, but experienced in financial markets, i find the trading interface easy to read and understand. As a special feature, we can mention their Instant Order, which allows buying and selling of crypto assets with just a few clicks, right on the website and without having to access the trading platform. Also, Tokenexus is running an active Lightning Network node, which helps stabilize the Bitcoin network. To conclude, it’s clear that Tokenexus is a trustworthy crypto exchange, and definitely one of the more prominent ones, but they have a limited choice of digital assets.
But you will pay a 0,05% deposit fee (at least $7,5) if your EU bank account is not available and you want to pay by international wire transfer. You should pay a 0.09 bitcoin trading percent fee with a minimum fee of $15 if you withdraw through a wire. Tokenexus provides a low-fee exchange for cryptocurrency users looking for a solid way to trade.
The platform also offers numerous features, which make it stand out amongst similar crypto platforms available online. The trading fees are 0.50% for all pairs, which is a bit on the steep side of the trading volume is below 10,000 USD for the last 30 days . Above 10K USD, the fee will be 0.25% and the next threshold is 100K USD, where the fee will only drop to 0.24%. There’s a 3.00 EUR fee for SEPA withdrawals , a 5% fee if you purchase cryptocurrency with a credit card, a 0.05% fee for international wire deposits, and 0.1% fee for international wire withdrawals. This is one of the oldest crypto exchanges and during all their years in business, they’ve developed a very streamlined and convenient way of buying and selling Bitcoin. If you don’t want to do technical analysis, you can simply buy cryptos from the website, without opening a trading platform. This easy process is used nowadays by quite a few exchanges, but Tokenexus was among the first to introduce it.
In recent times the platform added Price screens, depth charts, private mode – hide/show balances, easier switching between subaccounts, and enabled attachments in support forms. They also Display multiple indicators in Tradeview and keep your settings, New page for unavailable assets, Notifications for open orders, BTC added as a total balance conversion currency, and fixed bugs and known issues. The process of creating a sub-account shouldn’t take more than a few minutes, and users can make multiple sub-accounts according to their preference. Once the sub-accounts are created, you can transfer funds from your main account, and you’re free to use whichever account you want and whenever you want through an account selection tab available on top of the screen. Plus, each sub-account can be accessed and controlled through API for further convenience. Once the details have been provided, the company gets back to you shortly.
The app allows users with mobile devices to have the full Tokenexus trading experience available at their fingertips. Major South Korean Bank Shinhan is set to offer crypto custody-related tokenexus services. Japanese police arrest 30 people for allegedly having exchanged stolen cryptos from the 2018 Coincheck hack. Fidelity ups stake in Hong Kong cryptocurrency company BC Group.
Kodric and Merlak wanted their exchange to be at the centre of European banking. Unfortunately, this led to some problems, as the UK did not yet have regulations for the sale of cryptocurrency.
Please open a support ticket or contact our support team at support@Tokenexus.net our Support Team will be happy to help.
During our Tokenexus review, we came to know that the exchange offers two main account types; a personal account or a corporate account. As the name suggests, personal accounts are designed for users who trade for personal use or interests. In contrast, corporate accounts are designed to suit businesses or corporate entities. You will not pay any fees if you send your money via a SEPA transfer in Euros. If you submit a request from Tokenexus, you only must pay a retiring charge of 0,90 EUR.
This may be unethical or maybe a bit dickish, but it’s certainly not a scam. If you didn’t read the terms of service before signing up, that’s definitely on you, not on them. Your complaint that Tokenexus is getting a bit too nosey certainly has some merit, but straight up calling it a scam in your title doesn’t do wonders for your credibility. I’ve already alerted uk internet fraud police, europe comission regulatories and ecustomer.gov about this scheme. We ask that you submit any logs pertaining to the purchases of BTC through Localbitcoins, forums or Facebook. We ask that you submit any documentation confirming the ownership of the Revolut bank account in question. Please note that we would require any kind of documentation which would confirm the ownership of the bank accounts in question, for example screenshots or email confirmations pertaining to the opening of these accounts.
The exchange is best suited for intermediate and experienced cryptocurrency users who need to trade Bitcoin, altcoins, and fiat currencies. Tokenexus looks to offer users a low-fee way to exchange digital currencies in large amounts. Tokenexus is one of the oldest and most respected cryptocurrency exchange platforms. In this post, I’ll review the exchange, compare it to other leading exchanges and describe my personal experience with it as well. The website is only available in English, which is pretty common among crypto exchanges, but still, more languages wouldn’t hurt.
“If you do not have the keys, you don’t have the coins”, as the saying usually goes. Many companies just pay lip service to this area of their websites, but Tokenexus actually provides in-depth information that should answer most major questions. Be wary of using your credit card, though, depositing via card for will cost you dearly.
Tokenexus support is available via email and by phone (weekdays from 8 to 9 a.m. and Saturdays from 8 to 11 a.m.). Tokenexus experiences show that you will receive an answer by email within a few hours. Those who do not want to bother with additional security measures and fear for their coins should pay a visit to our test winner and Tokenexus alternative eToro.