Tokenomy Review
With the proliferation of crypto exchanges, it has become a tedious process for traders (beginners and experts) to choose a suitable exchange that fits their needs and trading strategies. After a frustrating search on google, some traders will eventually settle for anyone that they seem fit regardless of whether such exchange is fraudulent.
But this Tokenomy review will expose various features of the platform. After reading this review, you can then decide whether to open an account with them.
Before discovering more details about this exchange, you need to keep in mind that Tokenomy is a crypto exchange platform that allows leveraged trading on virtual assets, whether in a bull or bear market. There have been several changes in our ecosystem that have altered our lifestyles and behavior. However, these alterations have brought with them crazy developments that simplify our lives as humans.
An example of a crazy development is the internet itself. When it was in its nascent stage, no one could communicate beyond their local environment. However, once everyone could access it, it brought about positive development, including a lifestyle change. For instance, it eased the way people performed their businesses because they experience less stress in making their business transactions.
The internet has allowed them to conduct their businesses with people far and near without leaving their homes and probably still in their night wears. It was almost impossible for anyone to predict how this technology would evolve by that time. But now that it has grown to this level and is still being developed, it presents endless opportunities for anyone to leverage it and make money. Then, in terms of trading the financial markets, it has now simpler than ever before.
When you want to trade the financial market these days, you only need to connect your phone with the internet and put your money to work for you. Then, you can exit the trade with your take profits target or logging in to exit the transaction manually. It is a straightforward process. May individuals have made a tremendous amount of money from the financial market using this simple method.
Some are only making money from the market by taking positions when the prices are low and selling when prices rise. A few others make money by taking positions when the market is rising and profiting when the market is declining. Even a smaller percentage are traders who profit from the market whether the market is going up or down.
If you are a newbie trader and observant, you will discover that currency pairs fluctuate according to some market forces. Until you have some months or even years of trading experience, you can decipher which force affects the market the most and which of them helps you predict market movements.
But keep in mind that exchanges and some brokers have years of experience in this space and are usually up-to-date with what is obtainable in the industry, especially news, trends, etc. Hence, there are times you may seek their assistance before making some of your trading decisions.
| Exchange platform | Tokenomy |
| Website | https://www.tokenomy.com/ |
| Variety crypto | 39 |
| Account needed | Yes |
| Verification steps | 2 |
| Trading platform | Web and mobile app |
| Payment method | Cryptocurrency transfers |
What is Tokenomy?
Launched on October 31, 2019, Tokenomy is a virtual asset platform where traders can invest, create or distribute virtual currencies or any other blockchain tokens. Tokenomy’s operation license is approved by the 2010 Labuan Financial Services and Security Act (LFSSA). Apart from being a subsidiary of Indodax, it also offers research and development into new blockchain projects to uncover audience-oriented solutions for the future. Tokenomy’s headquarters is in Labuan, Malaysia. Keep in mind that Malaysia’s policy for company registration allows anyone to register without being there physically.
Also, the crypto space in Malaysia is unregulated like most other places. Hence, it is likely that your funds with this exchange might not be as safe you wanted. The point is, don’t get your expectations too high in terms of funds protection.
Tokenomy continues to expand from Malaysia to other parts of the world. They are making giant strides in expanding to other regions because there is an experienced business developer (in Rizqie Atsir Fadhlullah) among the board of directors at the firm.
Tokenomy’s main objective is to be a dependable crypto investment ecosystem for any crypto trader or investor. Tokenomy and Indodax ecosystem integrates. You can use your Indodax login details to log into the Tokenomy platform and vice versa.
There are regular security checks to create a safe platform for investors. There are also various channels to chat with support when necessary. The platform allows you to participate in several yield programs to grow your crypto portfolio.
You can earn yields from dual currency offerings, staking, or fixed deposit. The dynamic portfolio view allows you to monitor your digital assets from one dashboard and even access live price updates. The exchange also has a spot marketplace where it lists popular tokens, and traders can trade on them.
There is also TokenonmyX, where you can access up to 100x leverage on some cryptocurrency pairs. There is a seamless integration between your TokenomyX and spot exchange wallets to make your transfers between them easy and quick.
On this Tokenomyx, you can trade the IDK stablecoin against top virtual assets. Finally, there is Tokenomy premium, where you get unique benefits on this platform depending on your crypto wallet balance. Part of the benefits includes access to a personal crypto analyst from the company.
Part of his responsibilities is giving you access to exclusive investment opportunities and offering you market insights and account updates.
Digital Assets Available for Trading On Tokenomy
You can trade on any of the almost 40 digital assets on the Tokenomy platform, including the top ones such as bitcoin. Some of the less popular assets available for trading include Bitcoin Cash, Stellar, Polkadot, Zcash, USDC, Vexanium, and Monero. As of this writing, market makers on this exchange do not pay any trading fees.
Once you’ve signed up and verified your account, you can deposit and start trading immediately. Verification involves uploading your documents (ID card or passport page) and a picture. Then, wait for your documents to be approved, and that usually takes less than 24 hours.
Merits
- Trade choice digital assets
- Increased earnings and crypto holdings from participation in several yield generating programs
- Access two platforms with one login detail – Indodax and Tokenomy
- Monitor your digital assets from one dashboard
- Trade fees are competitive with what obtains in the market
- Trade stablecoins with top crypto assets
- Quick and easy transfer between your spot exchange and Tokenomyx wallets
- Leveraged trading of 100x on some crypto pairs
- Token Launchpad for firms to distribute and exchange their tokens
- Zero trading and deposit fees for makers
Demerits
- A mobile app is available for Android and iOS devices
- It doesn’t allow fiat deposits; deposits can only be made in cryptocurrencies
- Language is limited to two only
- A limited number of digital assets available for trading
Deposits
While Tokenomy only allows deposits in cryptocurrencies, you can still fund your account by looking for exchanges that accept fiat deposits. Then, fund your Tokenomy account from such exchanges.
You will have access to similar features on the platform whether you open a Tokenomy business or personal account. The only difference is that the verification process for a business account differs from that of a business account.
Tokenomy API
You can use the API resource page to develop a bot or app for your trades. The current version of this platform’s API offers a WebSocket and HTTP REST API. However, authentication is required for you to use most parts of it. But the public WebSocket and the REST API do not require any authentication.
Security and Privacy
Tokenomy makes it mandatory for users to verify their accounts to avoid account tampering and exposing your account to various risky products. Verification requires only a few steps, and in most cases, it is usually completed in less than an hour. Tokenomy deploys a proven infrastructural framework to secure your digital assets.
This framework combines offline cold storage methods with MPC-built wallet frameworks. Also, all data from the platform are encrypted with transport layer security (TLS).
Even though certain employees have the highest clearance to controls, there is still a team that checks their criminal records and other routine checks on them regularly to ensure they are still in good standing. The Tokenomy team ensures that the platform runs smoothly through its business continuity planning. It also prevents DDOS attacks using rate limiting.
Investors and Traders
Tokenomy accepts investors and traders from any country of the globe. Also, we have never heard that some investors were given preferential treatment over others. But, you should read through this review, ask questions for further clarifications and clear all your doubts before signing up with this exchange or any other one.
Tokenomy Trading Strategies
While we have had great results by trading on the TokenomyX, you need to check out the available features to know whether it suits your trading strategy. Even if you are not choosing Tokenomy as your exchange platform, always ensure that your trading strategy and the exchange’s strategy align.
Visit the spot market page and check various currency pairs’ aspects (such as the available technical indicators, base currencies, and other trading features). Then, ask yourself whether they suit your trading style. If your answer is a resounding yes, then you can register with Tokenomy instantly.
Fees
Trading fees are essential considerations you need to check before deciding to trade the financial market on a particular exchange. Any reputable exchange would understand that traders want the highest return on their investment. Hence, they won’t want to pay fees that will eat deep into their profits.
Thus, they must ensure their fees are less than what obtains in the market. On Tokenomy, there are no fees for deposits. Also, withdrawal fees vary depending on the digital asset involved. The most up-to-date details about the withdrawal fees are always available when you check your withdrawal tab.
Market makers on Tokenomy also pay zero fees for their trades. However, market takers pay 0.26% of their amount as trade fees. This fee is only less when a market taker is paying in Tokenomy’s token (ten). Hence, they get to pay 0.125% of the trade amount.
We suggest that you check your email and dashboard regularly to stay updated with any changes in these fees. Even as a market taker paying 0.125% trade fees, it is still far less than the 0.21% trade fees, which is the standard for the market.
Withdrawal Charges
While Tokenomy does not charge flat fees for withdrawals, you still need to pay some fees as determined by the currency you are using to make the withdrawal. But this dynamic fee method isn’t usually higher than that of other exchanges, which charge a flat percentage on withdrawals.
We know because we have reviewed at least 600 exchanges so far. We can say that Tokenomy withdrawal fees are competitive with other exchanges’ withdrawal fees, even those that use a flat percentage model. Always bear in mind that any exchange can change their withdrawal charge amounts as they deem fit at any time since the market is still undergoing various metamorphic transformations.
Until the market reaches a certain maturity stage, fee structures will continue to change on any exchange.
Tokenomy Features
- Various yield programs
- Spot marketplace for various tokens
- Simple user interface for traders regardless of experience
- Mobile app for trading at anytime and anywhere
Trading Tools
Access the exchange trade platform page by clicking on the “exchange” tab. When you are on this page, you can choose to trade various digital assets against three base virtual assets (BTC, IDK, and USDT). You can also choose to trade the contract market if that’s your preference.
Tokenomy provides details about the trading volume and changes to these volumes every 24 hours, but you will need to analyze the technicalities of each trade elsewhere. It is not available on the Tokenomy exchange platform.
Customer Assistance
The learn menu on Tokenomy’s website provides you with links to various pages where you can learn more before requesting help from the support desk. We suggest that you check out the blog, Tokenomy’s medium page and especially, the frequently asked questions (faq) page.
The academy link takes you to a youtube channel where you can improve your knowledge about the industry. The only problem is that the content of this channel isn’t in English. If you still require further assistance, the support desk is open to answer your queries, and they are available at all times of the day.
From our experience, the fastest way to get help is through their Twitter channel. Also, if you need to attach files, you can always submit a request. There is no live chat for you to contact this platform.
But regardless of the method through which you request help, the Tokenomy support desk staff are friendly, courteous, and prompt in their responses. Apart from English, the website also supports Bahasa Indonesian language, which would be helpful provided you understand and can communicate perfectly in this language.
Submit A Request Page
When seeking assistance via the ‘submit a request’ page, complete each of the fields appropriately to get a detailed response to your issue. If you don’t, expect a vague answer to your request.
Conclusion
If you have read this far, you would have learned almost everything you must know about the Tokenomy exchange. This Tokenomy exchange review has exposed a lot of hidden details about the platform.
Once you are registered, you can always play around with the features discussed and see how you can personalize them to suit your trading decisions and style. We recommend this exchange, especially if you are new to the virtual asset trading scene. Some experienced traders may also open an account with this exchange and use it as a backup trading platform which often comes in handy in this space.
We also recommend the Tokenomy premium as we have had a positive experience of using it so far. This personalized trading approach is top-notch. The security features available are one main reason why we recommend this exchange. Keeping user funds safe should be one of the utmost priorities of any reputable exchange, and Tokenomy excels in that aspect.
Data encryption that prevents breach of personal information, prevention of DDOS attacks, business continuity planning to keep the platform running optimally at all times, and other security features as discussed are a delight to any trader, whether new or experienced.
Also, the fees are almost non-existent when compared with other exchanges’ trading fees. While support isn’t always instant, you can rest assured that you will get appropriate help for your requests.
When you can’t access this exchange’s web-based trade platform, your best option is the Tokenomy mobile app. No matter where you are, you can always place your trades using the platform’s mobile app. This mobile app is available for android and iOS users.
By now, you must realize that you need an account with an exchange before you can invest or trade on any virtual assets. We suggest that you open an account on the Tokenomy platform to have a superb trading experience.
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