Review on Colodax by Joseph Bello
A digital exchange from India
Colodax is an indian exchange where cryptocurrencies are bought,sold and exchange for other coins. I don't really have much interest in Indian exchanges but this particular exchange was an exception due to its enriched features and attributes. The exchange laid much emphasis on KYC verification and this was one hindrance that prevented me from trading on the exchange even after my registration was completed. To complete your KYC verification you need to provide certain documents and information about yourself hence the exchange doesn't allows traders to perform transaction anonymously and there are also age limit tmgor traders who can trade on Colodax . The trade fees on the exchange is one of the most competitive and lowest from Indian,traders pay a flat fee of 0.2% which reduces to 0.0% as a traders transaction volume increases. They exchange has trade features like the market order, pending order and the order book. The exchange claims to have a good support team ,but since I wasn't able to trade on the exchange I can't really say much about that although there's an assurance that their support team would be excellent because of its excellent performance.
Pros
- Good trading interface
- Competitive fees
- High level of security
Cons
- KYC verification is compulsory
- Non Indians can't trade here
- Indian rupee is the only flat available on the exchange
