Review on Shortex by Olugbenga Ajayi
Shorted is a secure exchange
Shortex exchange is an exchange from Cayman islands. It was launched by a financial expert in 2019. The exchange provide a platform for buying and selling of cryptocurrencies. It majorly deal in cryptos which means you can not get any flat currency on this platform but information has it that it will soon include Eur on its mits market. The cryptos supported are Bitcoin, ethereum and atablecoins like usdc. Altogether there are five pairs currently on the platform.
The exchange is reputable for maintaining strong security. It uses very good encryption technology to secure every transaction on the platform. It also uses two factor authentication and multisignature and keep almost all the user funds in a cold wallet. A visit to their site will give users confidence as regard security since security matters are the first information displayed on the site.
The exchange does not differentiate between makers and takers, it charges a flat fee of 0.10% which is ok compared to what is obtainable in the industry. However the BTC withdrawal fee is far too high. It charges 0.002 BTC.
In a way, one should be encouraged by the security architecture but in another way, the high withdrawal fee can really discourage an intending trader.
Pros
- It charges low transaction fee
- It uses strong security architecture
- The site is multilingual featuring English and French
- It provides chart and other analytical tools
Cons
- The withdrawal few is too high
- It does not support flat currency
