Evidently, the cryptocurrency sphere successfully establishes itself in the real world and becomes more mature every passing day. On the other hand, the cryptocurrency exchanges are also booming with respect to numbers today than a couple of years ago. Today we are going to present a detailed review on such a relatively new cryptocurrency exchange, Tidex.
Launched in 2017, Tidex is a cryptocurrency exchange that facilitates its clientele access to popular digital assets such as Bitcoin, Ethereum, Litecoin, and several Waves assets.
In this Tidex review, we are going to analyze the company, the product offerings, compare the prices and scrutinize the security and overall trading system.
A Brief Overview
Initially, the exchange had its headquarter office in London but later on shifted its location to many countries, including United Kingdom, United States, and Russia. As of writing this piece, the Tidex cryptocurrency exchange is headquartered in San Francisco, USA.
Since its introduction to the market, the Tidex crypto exchange successfully establishes itself as a reliable platform in the market. Something we wanted to point out in this Tidex review, at the moment, the exchange’s daily trading volume surpasses $2 million. Besides this, the platform also allows trading for 100 crypto coins, and there are 185 trading pairs with four renowned cryptocurrencies such as BTC, ETH, USDT, and Waves available on the platform.
Tidex is also a Waves-blockchain integrated platform, due to which it also provides its users a facility to trade in the digitized form of fiat currencies. WUSD, WEUR, and USDT are the digitized fiat assets available to trade on the platform. Moreover, Tidex also enables its clientele to enlist their own custom-created tokens on the forum.
The team behind the Tidex exchange has managed to create an easy-to-use platform that helps its userbase to control and track its trading activities diligently. Tidex exchange also facilitates its clientele with several significant features that, according to the forum, should make it your primary choice for crypto trading.
Tidex presents its clientele with an API that enables multiple-platform trading. The forum is easily accessible via different devices, be it your desktop, tablet, or smartphone. A feature that definitely helps users to set up their transactional process upon their likings and enables them to track their account on the go.
Tidex provides a web-based trading forum that features a user-friendly and interactive interface with a broad range of functions. The exchange not just facilitates its clientele with essential trading features like trading history and the order book. But it also helps its traders community by providing responsive charts with diverse time frames and many technical analysis indicators along with design options.
The exchange’s web portal comprises a wide range of trading options that include margin trading, supporting limit, and market orders. The forum provides these trading options against simple fees. Both market takers and market makers need to pay only 0.1%.
To help their clientele with their queries, the Tidex support team is available 24/7 and can be reached by opening a ticket on the site’s Support Page. Besides this, the website also includes a FAQ page where users can read solutions regarding common issues. The support team is also available on their Facebook page, Twitter account, and Telegram group. Moreover, Tidex crypto exchange also facilitates several well-written navigational Guides for their community.
Tidex: Trading Platforms
Web-Based Trading Platform
Tidex cryptocurrency exchange’s trading engine is fundamentally browser-friendly, where all of the tradings are carried out through its website. Users just need to visit the exchange’s website and click on “Trading” showing on its header to access this trading engine. Moreover, the following is the list of features that the Tidex user-friendly interface facilitates the traders.
- A responsive graphical chart for analysis of every crypto asset that the platform listed.
- A Buy or Sell box that enables traders to set their Market or Limit orders.
- A troll box where traders can interact with other community members about anything about the cryptocurrencies, be it open trades, reasons behind particular decisions, and the relevant news in the arena.
- A review box where traders can keep track of the Order Book displaying buy and sell positions active in the market.
Tidex Mobile Trading Platform
Although, several popular cryptocurrency exchanges nowadays provide web-based and mobile trading platforms to their clientele and are equally popular among many investors. Tidex, however, does not facilitate mobile application to its community.
Having said that, the trading engine is created in such a way that it is viewable as a mobile-friendly forum. The Tidex exchange website operates dynamically on all devices, whether you use it through your mobile, tablet, or desktop. Moreover, the website that opens on your mobile is relatively lighter than the desktop having all the functionality of the browser-based forum.
Tidex: How to Setup an Account
If you are new to the website, setting up your account is quite easy. You need to click on the green ‘Sign Up’ button shown on the top right corner of its homepage. The website will lead you to the page to set up your accounts by filling the form.
In the end, you will need to confirm your account creation via your email. The platform will send you a link on your email account comprising a confirmation link which you will need to open from your account. That is it. Your account is now all set up, and you can now start trading on the platform after depositing your assets.
Tidex: How to Deposit your Funds
Once you create your account and are in it, you can deposit your desire cryptocurrencies by clicking on the “Deposit and Withdrawals” button and generate the receiving address of that crypto.
Now you can enter this generated address in your coin’s wallet and put the amount you want to transfer to your Tidex account. While doing so, it is imperative for you to ensure that the Tidex exchange supports your desired cryptocurrency.
Tidex: How to Withdraw your Funds
The funds’ withdrawal process on the Tidex exchange is also simple and easy, like the depositing process. To withdraw your funds, you need to press the “Deposit and Withdrawal” button once you are logged in.
On this page, the interface will be showing you details about your assets on the forum, such as your total cryptocurrency balance, address bar, amount to withdraw, along with withdrawal fees.
Put down all the required details and press the “Withdraw” button. By doing so, the exchange will send you a confirmation to your email account. After confirming all the details carefully, you will then need to click on the link to proceed with the withdrawal process.
Tidex: Loyalty and Referral Programs
Hold your TDX tokens and get rewards from Tidex
Tidex cryptocurrency exchange also rewards its community through its loyalty and referral programs. The loyalty program works through its native token (TDX). As we have mentioned above, the Tidex platform is integrated with the Waves blockchain, so it has many rewards lined up for the token holders. For example, if you are a TDX holder, you can benefit from discounted fees by the forum. One can get as high as up to 90% discount by the platform if he/she is holding 100,000 TDX or more in their account.
Stake your TDX tokens and earn profits
Tidex users can also gain profits if they stake their TDX tokens. Tidex rewards its consumers if they stake 500 TDX or more for at least 24 hours. In this way, users can earn 5% profit annually. The purpose behind offering such rewards is to get more tokens to the network.
Not just by staking your TDX tokens, the Tidex platform also offers its community rewards of 5% annually if one holds Waves tokens for the same period. The minimum requirement for the staking is 100 Waves tokens, though.
Another option to earn profit from the forum is to stake your Tether USDT. For staking 100 or more USDT coins, participants can make a 12% gain by the end of the year.
Earning through the Tidex referral plan is as similar as you find on any other popular cryptocurrency exchange. If you are a Tidex account holder, then you can send a personal referral link to your friends. When they use this link and join the platform, then you will be eligible to earn a 25% commission on the first amount deposited on the forum. Surely, this is by far a generous reward if we look at other exchange referral programs in the entire arena.
Tidex: How much does it charge you?
While at the beginning of its launch, the Tidex cryptocurrency exchange allowed users to trade against zero fees. Now, as its promotional campaign has ended, the platform charges a 0.1% fee to both market makers and market takers.
Overall, if we compare the forum’s such a low asking fee with its counterparts in the market, then indeed, it is pretty competitive and attractive to many. Moreover, it is worth noting that the platform charges you while depositing and withdrawing funds from your account. This fee, however, relies on the cryptocurrency you opt to deposit or withdraw.
Tidex: How secure is it?
When I was researching about the level of security measures the Tidex cryptocurrency exchange is employing to make their users sleep well, unfortunately, I could not find many details on the web. The platform, however, claims that security is their primary priority.
Like many other cryptocurrency exchanges in the sphere, Tidex employs 2-factor authentication for their user accounts. Whenever you log in to your account, the platform sends you a PIN and email notification about the login attempts.
It also uses the same process in case of withdrawals; you will need to confirm it through the link it sends you through email. This is good as it avoids cyber-criminals accessing your account without your knowledge, and if they succeed, there is so little they can do in your account.
One other thing which indeed can be worrisome for traders is there is no information about the team behind the platform. Because in case of any unfortunate event, they do not know who to hold responsible.
All things being said, the positive thing about the platform’s security measures is, there is no information on the web about the security breach in the past.
When I tried to look for any negative reviews about the exchange, I failed. Apparently, Tidex manages a brilliant reputation among its community, a rare case in today’s digital exchanges industry.
Tidex: Pros and Cons
During our research, we came across a few pros and cons to consider and wanted to include this in our Tidex Review.
- Easy to use interface
- Low trading fees
- An API is also available
- Traders can access the order book
- Easy deposits and guaranteed withdrawals
- No complaints from users
- No information about the team behind
- Does not accept fiat currencies
- Poor Customer Support
- No limit order option to get the best price
Tidex Review Conclusion
Tidex is a relatively new brand as it is still trying to staple its place in the cryptocurrency world. Besides its intuitive interface, which facilitates the traders to perform their operations smoothly, one thing that favors the platform is the vast amount of tokens options for trading.
When we compare Tidex security measures with other stable platforms in the arena, then we can say, for sure, there is a lot of room for improvement.
As the funds’ safety is one of the major concerns of investors, not many platforms have managed to keep themselves safe from security breaches.
We can only hope that the platform considers such concerns if it wants to remain competitive with counterparts in the market, which are often ahead in security protocols, trading volume, and trading processes.
If you are still unclear whether or not you should join Tidex, don’t worry, we have reviewed dozens of crypto brokers and exchanges and share our detailed analysis so you can find the best crypto exchange for you.