Review on CashTelex by Thalhat Tee
This exchange will soon become world leading
Almost Everyday, more cryptocurrencies are created as well as the need for more cryptocurrency exchanges with amazing features where all these cryptocurrencies can be exchanged. An example of such cryptocurrency exchange is CashTelex. Registration was very easy and fast, the only requirements were my email, a strong password and a human verification test. After successfully completing my registration, i was supposed to make a deposit to carry out my trading, but i was surprised to see that i had to complete my two step verification, unlike some other exchanges that needed me to complete KYC before i could do anything, KYC was needed but much later while i was trading here. This exchange trades just a limited number of cryptocurrencies like Bitcoin, Litecoins and DASH, it even recently listed the Kenyan shilling as a fiat. I did all these within an hour and i was finally able to deposit, depositing is done through cryptocurrencies where you just have to transfer your BTC, DASH or LTRC to your account's address(users should take the issue of 2-FA serious, this is very important and it prevent users funds from being stolen). The trading fee is quite inline with all other exchanges i have traded on, the exchange only charges a 0.2% trading fee of the order amount, according to them, if the order book is not filled then the trading fees will be charged proportionally with tue correspond part of the amount. As for the withdrawal fee, it is actually cheap and it is interesting to know that there is no withdrawal fee for the withdrawal of USD. The trading interface is quite interactive with low-level designs, this was actually quite unattractive to me. The Telegram Community group is very active with a very engaging admin who usually responds to every single complaints placed. Hopefully, a mobile trading app is about to be released, this, the KYC verification and the listing policy will be the basis of my update on this exchange. I actually didn't take the KYC as a priority since the withdrawal limit for my unverified account was 2BTC, most of my trading was around 0.002 BTC - 0.2 BTC.
Pros
- There is a future for the creation of a mobile app
- The trading fee is inline with what most exchanges charge
- The customer support group on Telegram is very responsive and quick to respond to any users complaints and questions
- The exchange is about to list some African fiats like Kenyan shilling and Nigerian naira
Cons
- The exchange has an unattractive interface
- The coins traded here are not much
