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Review on IDEX by Ayu Anggraini

My idex review!

Idex exchange is a peer to peer or decentralized crypto currency platform. this means idex operates to bring together customers without storing their assets on the exchange as happens in centralized exchanges that store user funds in cold wallets and hot wallets.

In idex, users have full control over their own passwords, wallets and transactions so that they are claimed to provide more security and privacy than centralized exchange.

Of course this makes me like idex more than centralized exchange because it is most likely to be separated from the possibility of hacks that usually occur in centralized exchanges.

Beside that i did not need to wait for withdrawal confirmation and payment of a third party (exchange) because of control over secret keys that are encrypted and only held by my self through an automated process and a number of security protocols.

Idex is a decentralized platform for exchanging crypto currencies that has been operating since 2016 and originated from Panama,

It is often an exchange place for crypto projects that are still new and before they can start trading on bigger exchange.

However, if you find any cryptocurrency project can trade on Idex, it is not something to be proud of, because almost all erc20-based alt coins can trade on Idex and Idex is not an exchange that is known to have good interfaces and stable websites. Somehow the Idex website experiences 'error' when I make transactions.

But full control over my own funds makes me feel safe to do trading on idex despite the platform flaws and deficiency.

.. Idex is also not an exchange that has great volatility because of its low liquidity. There is a lot of inactive project with zero volume in idex.

When this review was written idex volume was only $ 880,986, if you want to trade on idex then you will find trading pairs against ethereum only because idex runs on the ethereum network and work with erc20 tokens.

.. When this review was written, trading pairs with the most volume were UBT, QNT, Celsius network in the 3rd order, LCX and LIT (lition)..

Some projects does not have sufficient volume when you find them on centralized exchange, but its different when you can find them in idex, the volume and liquidity with the ethereum trading pair oftenly quite large compared to the trading pair against BTC on centralized exchange. Even though This is not applies to all projects but that is mean Idex has its own fans or own communities who love Idex more than to trade the same project on centralized exchange.

Idex is currently making KYC and AML compliance policies into the IDEX platform because it follows regulators.

But this does not change anything for idex that remains as a decentralized platform.

Pros & cons

  • I have been using this exchange for a few years and never experience bad things about security
  • Decentralized platform with regulated system
  • Completed trading pairs ( over 400 alt pairs )
  • Idex need to improve the website stability and speed
  • There is a lot of inactive project with zero volume still trading in idex