ACX Review – is scam or good cryptocurrency exchange?

RATING: Trio / 1 REVIEWS

RECOMMENDED BITCOIN BROKERS

Trading accounts and conditions

ACX is an Australian cryptocurrency exchange that operates since 2016. It is wielded by the Hong Kong-based Peak HK Limited. The company also operates a Cryptocurrency Arbitrage Fund since 2013.

ACX Advantages

– One of the large Australian bitcoin exchanges by volume. – Ter the brief period since its launch ter 2016, ACX has managed to rank among the largest Australian exchanges by volume. At the time of writing this review, its 24-hour bitcoin volume wasgoed 1,213.3620 BTC (overheen AUD 12 mln).

– Muziekinstrument portfolio: ACX offers trading te Bitcoin, Bitcoin Metselspecie, Ether and the relatively fresh alt-coin Hcash (HSR) against the Australian dollar. Bitcoin and Ether are the most popular cryptocurrencies and are responsible for the larger part of the cryptocurrency trading volume globally.

– Zero trading fees. – Most cryptocurrency exchanges charge a trading commission, but not ACX.

– 1% withdrawal toverfee. ACX charges a 1% withdrawal toverfee for fiat currency to a bankgebouw account. This, coupled with the zero trading commissions, makes ACX fairly attractive, considering that most exchanges charge both trading commissions and deposit and withdrawal fees, often fairly hefty.

– Trading verhoging. Even tho’ similarly to most cryptocurrency exchanges ACX does not suggest trading platforms like the ones usually provided by the forex brokers, with all the bells and whistles, the verhoging of ACX has the most necessary features. It offers candlestick price charts, order book and the option to place and cancel already opened orders.

ACX Disadvantages

– Not regulated. When it comes to cryptocurrency exchanges, the lack of regulation is relative, spil most countries have not come up with a legislative framework on the matter yet.

– Relatively puny cryptocurrency selection. – Wij have listed the Bitcoin and Ether trading ter the advantages section, but there are Australian exchanges like BTC Markets and Coinspot who have longer alt-coin muziekinstrument list.

– Does not suggest leveraged trading te cryptocurrencies. – Spil a matter of fact, most cryptocurrency exchanges do not offerande this, but there are some who do, like Openleggen, GDAX (institutional), CexIo, Quoinex. There are also forex brokers who offerande leveraged trading on cryptocurrency CFDs.

&gt,&gt, See our list of regulated bitcoin forex brokers &lt,&lt,

– No anonymity. Even tho’ most traders are not bothered by the customer verification requirements of the exchanges, the process can be slow and cumbersome. ACX says its KYC proces takes Two business days and requires a loterijlot of documents. Besides, the identification requirements defy the initial purpose of cryptocurrencies to provide anonymity.

– Supports withdrawals to Australian handelsbank accounts only. This te essence means it is next to unlikely for clients outside the country to trade on ACX.

– Accepts only deposits via canap accounts (from Australian banks). Handelsbank deposits, unlike credit/debit card payments, which are almost instant, take inbetween 1-3 business days to be processed. There, however, are crypto exchanges who accept card payments. Some also accept fiat currency payments via online payment systems like Paypal.

– Withdrawal boundaries. ACX has daily withdrawal boundaries, both for individual and corporate accounts.

For individual accounts: A$Ten,000, US$Ten,000 or BTC 100. For business accounts: A$30,000, US$30,000 or BTC 200.

Conclusion

Evidently ACX has commenced pretty well and has managed to become one of the leading Australian cryptocurrency exchanges. It boasts a global network of order books that provides deep liquidity and to be the largest Australian cryptocurrency exchange by volume.

Like wij already noted, it is not regulated, but this is not entirely a problem for cryptocurrency exchanges ter general, spil most countries still do not have specific legal framework on the matter. On the other forearm, wij notice that ACX has rigorous KYC rules and requirements and have not come across client complaints for being ripped off, so the exchange has good reputation.

An advantage of ACX are the relatively attractive trading conditions with the 0 trading commission and the immovable 1% toverfee for withdrawal of fiat currency to a handelsbank account.

What wij do not like about ACX is that it only works with Australian handelsbank accounts and does not provide other deposit and withdrawal options for fiat currencies. This is a major inconvenience and practically makes it next to unlikely for people residing outside of Australia to use ACX&rsquo,s services.

Another disadvantage of ACX is the relatively petite selection of cryptocurrencies, compared to some of its Australian peers.

Related movie: Litecoin Mining News – Litecoin Mining Zakjapanner With Difficulty Increase


Leave a Reply

Your email address will not be published. Required fields are marked *