Review on Emirex by Benaiah A. Akinlade
EMIREX EXCHANGE: BRINGING THE MIDDLE EAST UP TO SPEED IN THE NEW WORLD OF DIGITAL FINANCIAL TRANSACTIONS
The Middle Eastern part of the world had previously been left behind in different facets of developments in the globe, but in the past few years, the Middle east have been catching up in all aspects of development to the truest meaning of the word, DEVELOPMENT.
The creators of the Emirex exchange saw its development as a means to ensure that the little or no access that the Middle east have to Digital Assets is resolved. This quest was initiated in 2017 by Grigory Rybalchenco through the deployment of BitMeEx (also known as Bitcoin Middle East Exchange) which was later rebranded to Emirex Exchange. The aim was to create an exchange that is capable of transacting Digital assets against Fiat currencies. Like all Crypto exchanges, the Emirex exchange has its own native token known as the EMRX token which exchanges against the USD as stated on CoinMarketCap and Coingecko at $0.5368 and $0.53407 respectively as at the time of this review.
I discovered that there are three account levels you can achieve on the platform. Mere registering on Emirex exchange immediately activates a Starter account for you while the Expert and Master account levels are activated after satisfying several conditions required by the exchange. Please note that the limits of your transactions are a function of your account level, with the Master level account holder enjoying little or no limitations whatsoever.
I am quite impressed with the services provided by Emirex as the website platform is well structured, informative and easily navigable. I equally feel it is high time the exchange started exploring the waters of other terrains that are more welcoming to Digital currencies as I have this feeling that the exchange is overly focused on the Middle Eastern region market because I discovered that you must be from or be based in one of the few regions supported by the exchange before you can use Emirex platform.
Pros
- The native token of Emirex trades strongly against the USD at $0.5
- The EMRX token has a wide variety of use cases.
- There are different account levels developed to suit different customers
- You can enjoy some features of the exchange without KYC
Cons
- Your location must be one of the few regions supported by the exchange before you can use and enjoy the platform
- The Master level account requires a mandatory KYC accreditation before you can level up
- The exchange is too focused on the Middle East
- The exchange has not gathered global recognition
