Review on DragonEX by Joseph Bello
Another Great Asian Exchange Platform
The Asian part of the world is known to house many exchange platform, most of them come out successful at the end of it all, being ranked amongst the top ten or even better. One of such Asian-bred exchange platform is the DragonEx. It is a Singaporean exchange platform that startedits business operations in the year 2017. I got interested to the exchange platform due to the history they've kept. Because hacks are not just something to deal with but DragonEx managed it professionally.
The story of their hack started in the year 2019 when the company was struck by a security breach and the hackers made away with millions of dollars. The DragonEx exchange platform at first never wanted to admit that they have been hacked (I guess it's because they were too sure if paying them back, due to the fact that they have their users at heart). But on the long run, they opened up, stating that millions of dollars went missing. They managed this hack with maximum experience by paying back every single cent they made away with. With this history, I won't be scared of trading with them because I'm sure if they experience another hack, I would still be refunded. I made my first trade with them last night and was charged 0.1% which made me love their maker's fee. They charge double for takers (0.2%). I don't really like the fact that the takers gets to pay double of what I paid as trading fee because I'm a fan of flat trading fee. They have their mobile applications on both Android and iPhone operating systems and I got mine downloaded on my Android mobile device. Their User Interface is nice, but I've seen other exchange platforms with better User Interface. I discovered also that they support other languages other than English. Languages like Chinese and Korean were available there, I would have checked them out but I don't really understand those languages.
The platform is also registered in Estonia, which happens to free traders of the fear of loosing their funds. The DragonEx exchange platform doesn't accept fiat tradings and is limited to just crypto-to-crypto pairs. They also have some stable coins available like Tether, USDT. I feel the exchange platform relates well with their users as I was told that they do giveaways (although I am yet to receive one) and they also give dividends to their token holders, DT (I am yet to have their token and would try purchasing it soon).
In conclusion, the Asian exchange platforms are really doing great and the DragonEx happens to be amongst the number. I just don't like the fact that their trading fee for takers is 0.2% because there are many exchange platforms that charges lesser than that (some charge 0.1% and even reduce it to as low as 0.08% and 0.05% when traders use their token to pay the trading fee).
Pros
- They have a nice reading pair that houses both stable and unstable coins
- It is licensed which makes it virtually impossible for the company to go awake with user funds
- They have their mobile applications available on both Android and iPhone operating systems and I really enjoyed the Android version
- The exchange platform have their services in other languages
- They managed to handle the security breach they experienced with a high level of maturity
Cons
- There are many other exchange platforms that charges less than what they charge as trading fee
- Their interface is beautiful but can still be worked on
