Exx Exchange Review 2021 - Is It Safe?
For years the EXX exchange seemed to be a legit trading platform. The company's website didn't provide much information which was concerning. Nevertheless, there were no significant negative user reviews until 2021. As for May 2021, it seems that the company is not trustworthy. We do not recommend using this exchange.
- What Do Users Complain About?
- What Is Exx?
- Exx Exchange Features
- What Are the Exx Exchange Available Deposit and Payment Methods?
- How to Withdraw Cryptocurrencies From the Exchange?
- What Are the Exchange Trading Tools and Possibilities?
- Exx Fees
- Exx Exchange API
- How to Use the Exx Exchange?
- Customer Service
- Is the Exx Exchange Safe?
- Conclusion
What Do Users Complain About?
In January 2021 the reports of disappearing user funds started to sprawl here and there. Users deposit money, the transaction is reflected on etherscan but the EXX balance remains empty. It makes people think that the exchange is stealing their money. Another pattern is when users want to withdraw their coins, money disappears from the balance but never hits their wallets. The support team doesn't answer while social media pages of the exchange seem abandoned since 2019. The number of complaints is growing and doesn't seem to end. There is no publicly available response from Exx. We conclude that at this point the exchange doesn't deserve trust. Below you can see our original review of the exchange. It was written well before it became obvious that Exx is not trustworthy.
What Is Exx?
Exx exchange was founded in 2017 and is based in Hong Kong. The company that owns it is called EXX Group LTD. Many countries are supported, including the USA.
The Exx exchange has many strategic organizations; some of them are ZB Capital and TopFund. It is a centralized exchange. There are also many media partners; some of them are CoinTime and Gyro Finance.
Over 40 coins are supported, providing a wide variety of cryptocurrencies to choose from and trade. As of December 3, 2019, the trading volume for the Exx exchange is USD 1.068.797.030, 147.330 BTC, with data from the CoinMarkeCap website.
Exx Exchange Features
Some of the main advantages of the Exx exchange are:
- Relatively low fees and commission structure;
- The vast variety of digital coins, over forty of them;
- Availability of leverage for active trading;
- Advanced trading platform to use with charts, order book and trading history;
- Mobile application available for Android mobile devices;
- Exchange Alliance named 100 Thousand Exchange Alliance, which is a project to encourage the members to be active and enjoy the benefits of greater liquidity, get rebates, professional team assistance and promote the globalization of this alliance;
- Game center;
- Financial and asset management to gain interest income on digital assets, with purchase history, income record available;
- ExxMall or offers for online shopping;
- Cloud computing mining offers digital currency mining open in real-time with three levels, beginners, professionals, and large mining.
What Are the Exx Exchange Available Deposit and Payment Methods?
To deposit, there are two steps. First, you must log in and then click the Assets and the deposit buttons. Then you must select which digital assets do you want and either copy the deposit address to your electronic wallet or use the QR code with your wallet as a preferred way of payment. No fiat currencies deposit is supported.
How to Withdraw Cryptocurrencies From the Exchange?
The process is simple. You select any token or digital currency, and you create an address code. Then you must log on the platform, select which token or cryptocurrency you want to withdraw, click the withdrawal button, and add the selected address. You need to make sure the information is correct and click confirm to proceed with the withdrawal.
What Are the Exchange Trading Tools and Possibilities?
Clicking on the Trade tab, you get the trading platform, which seems to have advanced trading possibilities.
You can choose several cryptocurrencies to trade, and you get the orders history and the current entrust. But you only get a minimal range of time frames to customize your trading charts. You only have the availability of 1-minute, 15-minutes, 30-minutes, 1-hour, 1-day, and 1-week. There are many types of charts to select, such as bars, candles, lines, hollow candles, and many indicators for technical analysis of the financial markets. It is essential that you also get information about the volume, and TradingView provides the charts.
Additional information such as the price change of any cryptocurrency for the past twenty-four hours and last price is available and can be very helpful.
Exx Fees
What are the Exx exchange fees, Exx withdrawal fees, Exx deposit fee?
The deposit and withdrawal fees for all cryptocurrencies are open. There is a fare raising fee variable for each cryptocurrency, and there are limits for maximum withdrawal per day and transaction for each cryptocurrency. For Bitcoin (BTC), the fare raising rate is 0.0005, the maximum withdrawal per transaction is fifty, and the maximum withdrawal per day is two hundred.
All exchange transaction fees are 0.1%.
Exx Exchange API
Information about the Exx API is available with a page related to that. There are details about the rest API, trade API, a sample code, and frequently asked questions as well.
The main features for all the APIs are information about market data, order history, trade history, trade execution, and account information. These are available for spot markets.
How to Use the Exx Exchange?
The exchange signs up is simple and easy. You can choose to do it either via your mobile phone or via email. We decided on the email option, and we had to put a verification code to confirm the registration.
The exchange KYC and verification process are simple but can take several times. After confirming the email, you go to your account and click on the verification button. There are three choices, Chinese User, Korean User, and Non-Chine User. You need to submit the first page of a passport, a piece of paper writing on it exx.com, the date and signature, and besides, an address certificate with valid bills of water, electricity, or gas and the credit card for three months or certificates issued by the government. Overall the requirements to verify your identity are considered strict. This means they place a lot of importance to avoid any potential fraud.
The trading process is as described above, a pleasant one with several trading tools to help you trade, and TradingView provides the charts.
Customer Service
Next in this Exx exchange review, we will mention the customer service. There are a support team and a help center with much information and frequently asked questions, plus several useful announcements. There is a beginner tutorial, and users can send an email to support@exx.com, which is found on the main web page. What are the exchange reputation and reviews of it?
We could not find several English reviews or what are the most common user problems. This is probably because the exchange is very new, and the primary language is Chinese.
Is the Exx Exchange Safe?
Can Exx exchange be a scam project? There are no clues about that, and exx exchange seems safe. We like the rigorous approach for the verification, and the fact that is has many strategic partners and several media partners as well seem to be a somewhat reliable business entity.
Conclusion
This Exx exchange review mentioned some of the critical features of the exchange. In general, the layout of the platform is simple, and it is not hard to navigate and find several functions of the exchange. The charts are supported by TradingView with plenty of tools for active trading.
There are many digital coins to choose from and trade, and some exciting features, such as the shopping center with offers for online shopping, and the ability to perform cryptocurrency mining. There is also a financial management and wealth management function, which can be helpful to earn additional income. The exchange itself is mainly focused on the Asian market, as the primary language is Chinese. There are limited reviews about this exchange. This means that users and traders should perform due diligence before deciding or not to use it.
The exchange has many strategic partners and several media partners. This is a marketing and business effort to establish itself and build a brand name in the region of Asia. It is another exchange to take into consideration having some exciting features. The thorough verification process adds extra credibility to the exchange, making it a somewhat safe exchange to use.
My BTC was frozen during withdrawal. And the support service has been ignoring my request to unfreeze BTC for 5 days. They are just playing for time. When the BTC rate was 5000 Dollar, I withdrawn $ 300 without any problems. But now I wanted to withdraw the amount of 3500 dollars and it did not work out.
A lot of tools and very simple to use
