Review on VINEX Network by Praise Olagbadun
The Vinex Network Exchange Platform
The Vinex Network is a Singaporean Exchange platform that started in the year 2018. It is an exchange platform that does not allow fiat to crypto trading, limiting it to just crypto trading. For security purposes, the Vinex network keeps it's user's funds in a cold storage and always monitors it's site, checking for any scam alert even before it goes
The exchange platform charges a withdrawal fee of 0.0005 BTC which is slightly below the industry's average of about 0.0008 BTC. It also charges a trading fee of 0.25% for takers and 0.2% for makers. The platform has its interface in different languages which would help in providing it's services to a large number of people across the globe. The Vinex Network supports about 16 Cryptocurrencies with the popular Bitcoin and Ethereum inclusive.
Pros
- Makes use of the cold storage which has helped in it's security greatly
- Charges a bit cheap withdrawal fee of about 0.0005 BTC, I consider it a bit cheap because the industry has an average of 0.0008 BTC
- Has it's interface in about 8 different languages
Cons
- The exchange platform is limited to just crypto trading, I see this as a setback as some traders might not be able to use it because it doesn't allows fiat reading
