What is FinexBox?
Launched in October 2018, FinexBox is a centralized cryptocurrency exchange based in Hong Kong. The platform positions itself as a comprehensive spot trading marketplace for various digital assets, providing users with the ability to engage in leveraged margin trading through a peer-to-peer funding market, enabling trades with up to 3.3x leverage.
Overview of FinexBox
FinexBox operates as a spot trading platform for major digital assets and cryptocurrencies, including but not limited to Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, and Monero. The exchange emphasizes its leveraged margin trading feature, allowing users to securely trade with enhanced leverage. Additionally, FinexBox offers a variety of order types to cater to different trading strategies.
Genesis Blockchain Global Ltd
Owned by GENESIS BLOCKCHAIN GLOBAL LTD, a company registered in both the UK and China, FinexBox provides transparency regarding its team members, including co-founder and CEO Dennis Smith and co-founder and CTO Lun Bao. This transparency is essential for users, instilling confidence in the legitimacy of the exchange.
Trading Volume Growth
Since its initial review in early 2019, FinexBox has experienced significant growth in trading volume. From approximately USD 1 million, the 24-hour trading volume surged to USD 337 million as of December 2, 2021, according to Coinmarketcap.com. This growth underscores the increasing popularity and activity on the platform.
Advantages of FinexBox
The platform highlights several advantages, including deep liquidity, leveraged margin trading, and a peer-to-peer funding market. Additionally, FinexBox offers a customizable interface and robust security features, addressing the crucial concerns of prospective users.
FinexBox Trading Fees
FinexBox adopts a flat fee model, charging a fixed rate of 0.10% for both makers and takers. This fee is notably lower than the global industry average trading fees, which hover around 0.25%. The exchange's fee structure provides a transparent and consistent approach to trading costs.
FinexBox Withdrawal Fees
For withdrawals, FinexBox imposes a fee of 0.002 BTC for Bitcoin withdrawals. While this amount may seem relatively small, it is slightly above the industry average BTC-withdrawal fee of 0.0008 BTC. Users should consider this when managing their overall transaction costs.
Deposit Methods on FinexBox
FinexBox currently supports wire transfer as a deposit method, with the potential for credit card deposits to be added in the future. It's essential for users to stay informed about any updates regarding deposit options on the platform.
In conclusion, FinexBox presents itself as a dynamic cryptocurrency exchange with key features, experienced team members, and a growing trading volume. Users can leverage the platform's offerings for spot trading, leveraged margin trading, and various digital asset options.
What are the trading fees on FinexBox?
FinexBox adopts a flat fee model, charging a fixed rate of 0.10% for both makers and takers. Maker 0.1%, Taker 0.1%.
Does FinexBox offer leverage trading?
FinexBox does not currently offer margin trading or leverage options.
Is FinexBox safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
