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TIDEX Review – Is TIDEX Scam or Legit?

TIDEX Exchange Rating
Conclusion
Read our TIDEX review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this TIDEX review before you sign up with the exchange.
Account Types
9.3
Trading Speed
8.6
Customer Service
9.2
Safety
8.9
9

TIDEX Review

TIDEX logo

Despite its beginning, Bitcoin has seen exponential growth in both use and value. Therefore, choosing a reliable exchange to invest in cryptocurrency these days is crucial. Consequently, we’re giving you a Tidex exchange review today to aid you in your cryptocurrency trading adventures.

As cryptocurrency use grows, new exchanges are urgently needed to serve the industry. The numerous technological improvements have made cryptocurrency acquisition, sale, holding, and trading much simpler. Before investing in cryptocurrency-related products, you must first create a cryptocurrency exchange account with a trusted broker. It is essential to use a cryptocurrency exchange that is both legal and dependable. To be ready for trade, security measures must be in place. Additionally, it should provide its customers up to a certain degree of acceptance.

Cryptocurrency exchanges are prized for their privacy and security. Exchange qualities to keep an eye out for include transaction fees, ease of use, liquidity, and customer service. One must not overlook these aspects while reviewing a trade.

To succeed, investors or traders need access to a strong exchange. So, in the next paragraph, we’ll provide all the necessary information regarding the TIDEX cryptocurrency exchange. TIDEX is undoubtedly one of the most well-known cryptocurrency exchanges, and it makes getting started in the cryptocurrency business straightforward.

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TIDEX website
Exchange platformTidex Exchange
Websitehttps://tidex.com/
Variety Crypto70
Account NeededYes
VerificationMandatory
Verification Steps2
Trading PlatformWeb-based
Payment methodBank account, Debit/Credit card, Crypto Conversion
Customer SupportE-mail, phone

 What Is TIDEX Exchange

Tidex is a cryptocurrency exchange established in October of 2017, just as the crypto storm was brewing. To now, the stated daily trade volume has reached a total of $200,000. According to various sources, Tidex is somewhat below 50th place or slightly above 100th place on the list of the best exchanges ranked in terms of liquidity. However, the exchange is well-known for being a straightforward, user-friendly interface with cheap costs and more than 100 trading pairs. Some people may find it troubling that there is so little information available about the exchange team; nonetheless, there have been very few allegations that Tidex is a hoax. This Tidex review will look at the essential details concerning this exchange and determine whether or not it is safe to trade on Tidex and how lucrative it is.

The location of the exchange is not specified on the exchange website. Aside from an e-mail address, there isn’t much more to be found under the area labeled “Contacts.” Some sources claim that the exchange is based in the United Kingdom, while others claim that the Cayman Islands is the nation where the exchange was established. One website claims that the exchange’s headquarters are in San Francisco, consistent with other sources. Tidex has been referred to be a Russian exchange by several reviewers. Because Tidex has business relations with the Russian blockchain startup Waves, it seems likely that this is the case. It is assumed that Elite Way Development LLP is in charge of the company’s management and operations. It appears as though the organization is attempting to disguise its actual location for some reason. This fact raises some eyebrows, even though we found no evidence of any harmful behavior on the part of the exchange in our investigation. The service can be accessed anywhere in the world.

TIDEX Trading Services

It allows users to purchase cryptocurrency tokens and buy and sell listed crypto assets on an exchange basis through the Tidex cryptocurrency exchange.

For the most part, the Tidex trading engine is accessed through a browser. However, everything is accomplished through the website. To use this engine, traders must visit the Markets page, where all traded assets are listed, typically in pairs, and then click on the appropriate button.

The online interface includes the following features: an interactive chart for asset analysis, a troll box where traders can remark on anything crypto-related, including open trades, the reasons for trade decisions, and pertinent news from the market. In addition, the Buy or Sell box is displayed. Finally, trades can be placed here in the form of Market or Limit orders.

Another feature is checking out the Order Book, which contains buy and sell positions currently active in the market and an announcement box.

Tidex Trading Fees

Every time you make an order on the exchange, you are charged a trading fee by the exchange. It is customary for the trading charge to be a percentage of the total value of the trade order. Normally, trades create a distinction between takers and producers. Takers are the people who “take” an existing order from the order book and fill it with new items. Makers are those who place orders on the marketplace and so increase liquidity on the market.

The cost charged by Tidex to takers is 0.10 percent. These taker costs for centralized exchanges are lower than the worldwide industry averages for this type of exchange. Historically, industry averages have hovered around 0.20-0.25 percent, but we are now seeing new industry norms emerge in the range of 0.10 percent to 0.15 percent. Thus, whichever taker charge you compare it to, 0.10 percent is considered to be on the low end of the spectrum.

On the other hand, this exchange does not charge any fees to makers, which helps to increase liquidity on the market. This is a very powerful component of Tidex’s product, and it may be quite beneficial for customers who do not want current orders from the order book to be picked up by the system.

Withdrawal and Deposit Fees

Tidex charges a withdrawal fee of 0.0005 BTC for each BTC that is withdrawn. This cost is a tad lower than the norm in the industry. The global industry average BTC-withdrawal cost was approx. 0.0008 BTC per BTC-withdrawal. As time goes on, however, we are seeing an increasing number of exchanges charging 0.0005 BTC each BTC-withdrawal, leading some to believe that 0.0005 BTC is becoming the new industry standard.

This trading platform does not accept any other forms of payment for deposits other than cryptocurrency deposits themselves. This implies that new cryptocurrency investors will be unable to trade on this exchange. However, suppose you do not already have cryptocurrency but wish to begin trading at this exchange. In that case, you will first need to acquire cryptocurrency from another exchange and then deposit it at this exchange as a second step. One disadvantage is the lack of support for fiat currencies, which the service’s designers are still planning to add later this year.

Overall, the fees charged by this exchange are comparable to, if not somewhat lower than, the industry standard.

Verification/ Authentication

Verification on this platform, unlike many other platforms, is simple and unambiguous, which is a quality many customers are on the lookout for. All it looks like is a simple registration process.

The procedure is quite straightforward and does not necessitate any particular efforts on your part. The green “Create an account” button can be found on the site’s home page, and clicking on it will take you to a page with a registration form, which you can complete automatically. The next step is to complete the usual application form. Next, it is essential to input a mailbox, a login, a password, a phone number, and a PIN code, all of which must be generated by you. Following that, you will receive an e-mail with a link to validate your account. To access your profile, you must first log in with your username and password and then confirm the activity by clicking on the link provided in the letter. You may now begin to familiarize yourself with the platform’s features and participate in the platform’s first auction.

Tidex Exchange API

All API queries should be performed from the following URL: https://api.tidex.com/api/3/method name>/pair listing>. Currency pairings are denoted by the hyphen (-). You are free to include as many pairs as you like in the listing. However, it is not permitted to submit duplicates. It is also feasible to utilize a single pair of shoes: Tidex’s API is available at https://api.tidex.com/api/3/ticker/eth-btc. A collection of pairs is compatible with all of the methods available in the public API, except for info. Because all information is cached after 2 seconds, making more frequent queries isn’t necessary. All API replies are in JSON format.

It is important! If they cannot enable one of the pairings provided in your request, the API will produce an error. For example, suppose you will not use the method info to synchronize the status of pairs. In that case, you must give the GET-parameter ignore invalid equal to 1. This request will have returned an error if the ignore invalid option had not been used since the pair was not present.

Security

They are concerned about the security of your personal information and take steps to secure it. For example, they protect your personal information with industry-standard data encryption technology, and they have put in place safeguards to prevent unauthorized access to and storage of your information. However, please keep in mind that, despite our best efforts, no data transmission via the Internet or form of electronic storage can be guaranteed to be 100 percent secure.

In general, the personal data you provide to us is used to either answer requests that you make or provide you with a better experience. The following are how they utilize your Personal Data to;

assist the formation of your account on their network and the security of your account. A service provider will identify you and do identity verification on your behalf, enhance the management of their website and services, enhance the overall quality of your interaction with their Site and Services, send you a welcome e-mail to verify that you are the owner of the e-mail address that you gave when you created your account, send you administrative e-mail notifications, such as those regarding account activity, transaction processing, security, or support and maintenance alerts Identify, prevent, and report suspicious, fraudulent, or unlawful activity, notify you of significant changes to our Terms and Conditions; and react to your questions about job openings or other demands

All of the information gathered automatically will be utilized to manage and improve the services they provide. They use your IP address to make their Site and Services more helpful to you and verify your identity when you use their Services. Their servers using log files, track all users’ movements through the site, demographic information about their user base as a whole, and better customize their Services to their users’ requirements. As specified in this Privacy Policy, they do not link this automatically acquired data to any Personal Data unless otherwise stated.

To offer you a more personalized and engaging experience on their site, they may use both permanent cookies (which remain on your computer until they are deleted) and session cookies (which expire as soon as you shut your web browser). Specifically, this sort of information is gathered to improve the site’s usefulness to you and adapt the experience you have with us to fit your specific interests and needs. In addition, they may build Anonymous Data records from Personal Data records by removing information (like your name), making the data personally traceable to you from the records. They use this Anonymous Data to evaluate the request and use trends to improve the content of their Services and the navigation of their website. They retain the right to utilize Anonymous Data, aggregated and other de-identified information, and to distribute Anonymous Data to third parties at their sole discretion for any purpose, including marketing. Tidex does not share, sell, or rent user information to any third parties.

Tidex Trading View

Different exchanges hold different trading views. You should evaluate which trading perspective is most appropriate for you. All of the views have in common that they all display the order book or at least a portion of the order book, and a price chart for the cryptocurrency in question, and the history of orders placed. They are also commonly equipped with the buy and sell boxes. Before deciding on an exchange, attempt to look at the trading view to ensure that it is something, you are comfortable with. In the following image, you can see a representation of the trading views at Tidex:

TIDEX Interface

A user-friendly interface is essential when it comes to providing consumers with the best possible trading experience. Therefore, any exchange platform’s interface must be designed to be as user-friendly as possible. It is the one specific factor that, if not done correctly, has the power to drive traders away from the market entirely. Therefore, a quality user interface must be intuitive, simple to use, and provided with the appropriate trade tools to be effective.

The TIDEX platform is easy to use and straightforward, particularly for traders with many experts. The interface has been created to be intuitively easy, allowing you to navigate through it with ease. Aside from that, the platform is easy to use and gives skilled traders access to a wide range of trading products.

Among the user interface features are aspects like the order book, open orders, trading history, balance, candlestick price pattern, and the ability to see charts across a range of various timeframes. It also contains a slew of other features that may make your trading experience more convenient in many ways. The interface also includes customization capabilities that allow customers to personalize the platform to meet their trading requirements and tastes.

Even though the interface includes several technical features for skilled traders, the interface’s simplicity makes it easy to browse. For example, you may place trades without feeling stressed and choose from the available order types, including Market, Limit, and Stop orders, among others. Likewise, making deposits and withdrawals on the site is as simple as clicking on a button, from which you can select the transfer type that is most suited for your needs.

Mobile Support

Tidex does not have a mobile application available. The Tidex trading engine, on the other hand, is designed to be viewed as a mobile-friendly platform, which is why it is so popular. This method applies to both smartphones and tablet devices. However, while the mobile site is less resource-intensive than the desktop version, it retains many functionalities from the browser-based platform.

Limits Of Liability

TIDEX will have no liability for any damages of any kind (without limitation, consequential, incidental, special, or tort damages, or lost profit) in connection with, or your use of the service, even if TIDEX has been advised of or aware of the possibility of such damages. TIDEX’s responsibility for monetary damages under these terms and conditions will in no case exceed the amount of fees TIDEX collected from you in the preceding six (6) month period.

Customer Support

Every user of the TIDEX platform has access to customer service on a 365-day, 24-hour basis through the TIDEX platform, which is available to them. In addition, users of the platform may also take advantage of TIDEX to obtain one-of-a-kind client services, which allows them to receive more professional, attentive, and prompt help.

CONCLUSION

Tidex is a young brand in the market, and as a result, it is still figuring out where it belongs in the cryptocurrency exchange industry. However, one of the brand’s strongest assets is the enormous number of tokens exchanged and the visually appealing platform interface that makes trading an enjoyable experience.

However, considering the high-profile hacking incidents on various other platforms, the platform’s security is not properly stated by the developer that runs the site, which might cause concern. Nevertheless, it is hoped that Tidex will resolve these challenges to compete with other exchanges far ahead in transaction volume, security standards, and exchange processes.

TIDEX Exchange Rating
Conclusion
Read our TIDEX review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this TIDEX review before you sign up with the exchange.
Account Types
9.3
Trading Speed
8.6
Customer Service
9.2
Safety
8.9
9

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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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