Review on Tidex by Temitope Babatunde
An Exchange To Be Use With Caution.
Tidex is an exchange owned and operated by Elite Way Development LLP, this exchange was founded in 2019 and registered in the Cayman Island, it is based in Russia but the headquarter has been in different countries but presently it is at Fransisco in USA. Nothing can be said about the team behind the exchange and this show a lack of transparency.
At the onset the exchange is feeless, but presently it has been charging various fees, for example, when trading makers and takers pay a flat rate of 0.1 percent, deposit and withdrawal of asset also carry some charges depending on the asset one is dealing with. It seems the team has connection with wave team though it is just speculation, though the platform accept no fiat currency but it accepted the trading of WUSD and WEUR.
The platform has it's own native token of which symbol is TDX, a user that pay transaction fees with it will have his fee reduce by 50 percent. The trading platform has four languages, namely, French, Chinese, English and Russian.
There are up to 90 different coins to trade on the platform. Though not regulated no attempt of hack has been reported against it. The support team is said to be somehow lacking too.
In conclusion, the platform must be use with caution since users fund are not insured and the lack of transparency on the part of the team.
Pros
- It has a competitive transaction fees.
- It claim to have customer support service 24/7 and ever since no customer has complain of negligence.
- The trading platform support up to 4 different languages.
- It has mobile application which make trading at go easier.
- For security purpose, there are 2 layers of security when withdrawing.
Cons
- It is not regulated and it is centralized.
- It lack total transparency, because not much is known about the team behind the Exchange.e
- It charges fees for depositing.
