AAX Review
The recent crypto boom has led to increased exchange platforms. Unlike some years ago, today’s internet is full of crypto exchanges ready to serve you. Changpeng Zhao, Binance CEO, thinks that operating an exchange might lose profitability in the future. That is because the multiple platforms available on the web will have to lower their trading fees to compete in the growing market. However, such claims seem not to bother AAX exchange. Why is this crypto dealer special from the rest in the market? Well, if that is your concern, this AAX exchange review has you covered. Let us dive deep.
Keep in mind that you will require the help of exchange to enhance your activities in the crypto market. For that reason, select a broker that will offer you lucrative features for money-making deals. AAX exchange is a reputable platform that bridges the crypto market with the conventional financial market, supporting average cryptocurrency retailers. Although this exchange has been in the crypto atmosphere for about a year, it seems to understand the trading solutions that modern digital investors want. The platform’s commitment to integrity, security, and performance has contributed to its steady growth. The best thing is that the broker keeps adding new and lucrative features as time goes by. For example, the exchange introduced its native coin AAB recently.
About AAX Exchange
AAX exchange is among the reliable exchanges you will encounter in the market. The platform positions itself in the market as a home for every crypto enthusiast. Keep in mind that this is the first digital crypto platform run by London Exchange Stock Group technology. The exchange boasts lucrative features that attract traders and investors from different regions. After all, what do you expect from a platform for ‘all.’ You can visit the website to understand its suitability in trading digital coins. Remember, you will find some platforms designed to suit experienced investors. Avoid the mistake of joining such sites if you are a fresher in the crypto environment. Trade with brokers that will support you regardless of your trading background and market familiarity.
AAX is an abbreviation for ATOM Asset Exchange. That refers to the AAX’s parent firm, ATOM International Technology. Unlike other exchange platforms you will find in the financial market, AAX focuses on creating a scalable, future-proof, and secure trading environment to accommodate institutional investors. The AAX developers anticipate increased institutional activities in cryptocurrency undertakings.
AAX Overview
AAX is a Seychelles licensed exchange. Thor Chan, the platform’s chief executive officer, aims to make the platform the best in the financial industry. Thor has been in various management and investment positions at firms like Nokia and HSBC. The platform’s chief operating officers had more than ten years of experience as an Information Technology Architect at IBM. Also, the COO has worked with multiple NGOs and TedEx. The exchange has a comprehensive advisory board comprised of Jamie Khurshid, Mike Newell, and Paul Jackson. If you are interested in a platform made by experts for modern cryptocurrency solutions, you might try what AAX boasts. You will enjoy cooperating with professionals ready to help you succeed in your crypto endeavors.
AAX Regulation
Never select any exchange platform without evaluating its regulatory status. With that, you will access reputable firms that will not compromise your investment in any way. Regulated exchanges have authorities monitoring their accomplishments.
You can trust licensed platforms to trade with peace. The best thing is that most regulated platforms are transparent. They list their license information on their official website. You can always visit the site for more. After all, no legit platform will act anonymously.
Is AAX a licensed exchange? Sure, when trading with this dealer, you are interacting with a Malta-registered platform. Keep in mind that Malta is more crypto-friendly. Also, the exchange’s parent firm ATOM technology has its services controlled by Hong Kong authorities. With AAX, you will forget about ugly phenomena such as scammers.
Is AAX a Secure Exchange?
Sure. AAX exchange guarantees security to its followers. Keep in mind that security remains a challenge in the crypto atmosphere. It is without a doubt that you have heard about scammers escaping with millions from the crypto market. The worst thing is that some exchange platforms scam their customers. For instance, founders of a South African-based exchange Africrypt escaped with Bitcoin worth over 4.7 billion recently. For that reason, be extra careful when opting for brokerage firms.
AAX keeps its virtual coins in cold storage. That makes them safe from intruder access. Also, the platform has custody services to interested parties. Moreover, the exchange trusted Kroll as a security advisor. Remember, Kroll weighs operational risks for more than 4,000 firms worldwide.
Also, AAX cooperates with different blockchain analysis companies to avoid laundered money sent to its platforms. Indeed, this broker has tried all way possible to remain legit. For example, AAX partnered with a New-York based software firm Solidus Lab. Solidus recognizes any existing manipulation in the crypto exchanges market. With that, AAX is the only crypto platform to trust a third-party firm to prevent customer manipulation. With this dealer, you will always be safe in your crypto undertakings.
AAX Restrictions
Before you plan to settle with any trading platform, confirm its restrictions. That is why research is a vital thing when venturing into the cryptocurrency market. Some platforms ensure global services, while others have their unique reasons to restrict given regions. AAX declared that individuals and companies from selected countries could access their services. If you are in the US and want to trade cryptocurrencies, you may need to find an alternative exchange. No one knows whether they will adjust their restrictions in the future. The United States and some nations in Europe, Africa, Asia, and the Middle East cannot use AAX exchange services.
However, a VPN can solve the restrictions since the exchange does not have KYC protocols (details in the Know Your Customer section below).
AAX Platform Review
True enough, brokerage exchanges try different means to remain unique in the space. How does AAX differ from the multiple crypto platforms that the internet has? Well, with this platform, you will experience LSEG technology while executing your trades. With that, AAX exchange can process up to 100K transactions every second. That is in low latency scenarios. Michael Wong, AAX COO, said that the platform could accomplish deals at 850 microseconds even when at 99% volume.
AAX KYC
If you are among investors that prefer not to share their details when interacting with crypto platforms, AAX exchange might be your trading home. With this dealer, you do not need KYC documents such as identity cards to register a crypto account with AAX. That is because of Malta’s laidback regulations. However, you may require to fulfill KYC policies to access given features on the exchange.
What you may need to know is that AAX has three Know Your Customer levels. At the zero (0) tier, you only need an email for verification. With this option, your daily cash-out limit will be 2 Bitcoins. The first tier has all the vital trading features to fit any interested trader. The only thing that you will not access is the AAX Savings and OTC Trading.
You will require tier-one Know Your Customer verification to unlock these features. For this confirmation, you need a national ID, driver’s license, or a passport only. For the level two KYC verification, you have to provide face authentication (biometric data). Remember, the level one internal BTC transfer limit is five, while level two is ten.
AAX Trading Fees
Unlike other cryptocurrency platforms, AAX has a flexible and transparent fee structure. If you are starting in the crypto business, beware that trading fees can impact your profitability. You might register fewer profits if you select brokers that charge high fees. AAX exchange has lower spot trading charges compared to most dealers you will find in the market. The best thing is that you can still lower the fees further by utilizing the platform’s native coins, AAB token, to pay the trading charges. Also, high trading volume in the network reduces trading fees.
Another thing to keep in mind is that you will pay similar fees despite your trading pair on the Futures charges when using AAX. Also, you can reduce the costs with the AAB token. The best thing is that the exchange has a list of its transaction costs or the assets it supports. Investors pay no charges when depositing and making internal transfers.
AAX Fiat Deposits and Withdrawals
AAX exchange ensured that you experience no hurdles when in your crypto undertakings. With this platform, you can purchase your digital coins seamlessly using your debit or credit cards. Moreover, you can complete your trading transactions using the bank transfer option. You only need access to one of the four fiat-crypto transaction service providers on AAX’s trading site. Remember, all four will necessitate that you complete level one KYC verification on AAX exchange. The only exception is the Itez that allows you to purchase crypto worth up to $300 without a KYC policy.
AXX does not allow fiat withdrawals (for example, from wire transfer to your bank account). Keep in mind that the exchange might see increased regulations if it supports fiat withdrawals. You probably know how crypto regulation affects the cryptocurrency environment.
AAX Exchange Tradeable Assets
With this exchange, you will access more than 40 tradeable digital products. If you want to trade popular options, the platform has BTC, XRP, and ETH for you. If you are interested in decentralized finance tokens, you can interact with UMA, UNI, CRV, and YFI.
Although you can Spot Trade all the over 40 cryptocurrencies, you will only find 5 with the Futures markets. They are Bitcoin, Ethereum, Chainlink, Bitcoin Cash, and COMP. Peter Lin, a former AAX chief executive, stated that the platform accepts coins that adhere to the platform’s core values – Security, Performance, and Integrity.
AAX Promotions and Rewards
As an AAX exchange customer, you will qualify for different promotions and rewards. For instance, if you complete the activities outlined on its Reward Hub, you will enjoy 45 AAB as a reward. That translates to roughly $7.25.
Also, if you complete every task, you will get tickets that you can use when spinning the AAB slot. You can win random amounts of the AAB token with the slot. Moreover, you can invite your friends to the platform for referral rewards.
Moreover, AAX exchange has an AAB Flash Sale event every week. That allows 1000 customers to purchase about 1,000 AAB assets at a discount. Also, 500 randomly selected users to qualify for free AAB tokens. You require level one KYC verification to participate in the giveaways and flash sales by the platform.
The dealer has an affiliate program known as AAX Tribe. In these cases, users might earn a portion of trading charges from the individuals referred to the exchange. The program has varying conditions and tiers. For instance, you will still benefit from the trading fees cut from the individuals referred by the person who joined the platform under you.
AAX Spot Trading
AAX exchange has more than 50 market pairs for Spot Trading. However, note that these trading values have varying liquidity.
Most crypto accomplishments happen on the LINK/USDT, AAB/USDT, BTC/USDT, and ETH/USDT sets. Keep in mind that the pairs vary in many ways. Make sure to evaluate them before investing in any.
AAX Futures Trading
Contrary to the Spot Trading sectors, the AAX exchange has an incredibly active Futures trading market. With the platform, you will access both USDT and BTC settled trades with leverage amounting to X100.
Unfortunately, you will only find seven trading pairs – LINK/USDT, COMP/USDT, BCH/USDT, ETH/USD, ETH/USDT, BTC/USD, and BTC/USDT.
AAX OTC Trading
With the OTC Trading functionality by the exchange, users can trade AAB tokens, BTC, and USDT directly for fiat currencies of the platform’s order books.
The crypto exchange acts as an intermediary between two parties, escrowing the traded digital coin and releasing the instrument after its seller confirms receiving fiat payments. Remember, you need to fulfill Level one KYC verification to access the OTC trading functionality on AAX Exchange.
Exchange Savings
AAX platform provides multiple no-lockup crypto saving accounts with more than 6% APY. Supported instruments are AAB, EOS, BCH, XRP, ETH, and BTC. Keep in mind that the Level 1 KYC is a must to utilize the AAX’s saving feature.
AAX Mobile App
It is without a doubt that you want flexibility and convenience as a cryptocurrency investor. The best thing is that online trading allows you to accomplish your deals regardless of your location. As long as you have an internet connection, you can access the trading platform with the AAX mobile app. That makes it possible to trade even when you are on the move. The best thing is that you will not have to deal with compatibility problems. Their applications perform the best on Android and iOS devices. Their trading apps have all the features you will find when using a desktop version. Also, the apps grant you access to the latest updates and push notifications. Moreover, you can receive blog post updates from the AAX exchange.
AAX Academy
If you are a crypto fan, keep in mind that knowledge is paramount to succeed in the trading space. For that reason, exchange platforms decided to include learning portals for their customers. With AAX, you will enjoy a detailed Academy that you can use to understand various facets concerning crypto trading. Within their comprehensive academy, you will access crypto explainers, exchange guiding, trading tutorials, and webinars. If you want a platform that will expand your cryptocurrency awareness as you reap the rewards, AAX exchange might have something for you.
Also, AAX uses YouTube, posting detailed and easy-to-follow guides directing individuals to utilize different features on the platform without challenges. Also, you can use the market insights and analysis on some digital coins when investing.
Customer Support
Customer support is a vital functionality to any business. If you want to have a smooth journey as a crypto trader, evaluate the responsiveness of the customer support by any exchange platform. How long do they take before replying to customer concerns? What about their success rate in solving crypto-related issues? As many queries as possible to guarantee yourself a seamless experience when trading your favorite digital coins.
AAX provides 24/7 client support. That gives you the freedom to trade any time of the day. You can use their Telegram channel and the in-built chat feature on their website for customer support services.
Final Thought
Although not the only exchange available in the financial space, the AAX crypto exchange guarantees a remarkable trading experience to its followers. Registering your account with this broker is straightforward. Also, you can start your trading activities as soon as you want after your account creating due to KYC absence. Moreover, you can enjoy all desktop features with the mobile app without any problems. Analyze the above comprehensive AAX exchange review to understand why the broker made it to our list of favorites.
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