Review on VINEX Network by Stephen Toluwani
More Users need to onboard this exchange to increase it's Liquidity
Vinex Network exchange is still a relatively new exchange that has scaled a lot especially in it's user interface since it's first launch. As someone who doesn't like exchanges that makes KYC compulsory, Vinex is a sure go as KYC isn't made compulsory but only limits users in their 24 Hour withdrawal volume. There is support for KYC using documents stops at level 2 and further verification will require one to contact the support team. On the exchange, there is an Airdrop pool from which it's registered users can participate in to earn some money. This airdrop pool allows new projects advertise their coins to onboard more people unto
It's trade fees are a moderate 0.1% for both market makers and market takers. I don't find this conducive as I prefer that it's market makers are rebated for providing liquidity on its exchange. It's security features are not really sound but the fact that most of its users funds are stored in a cold wallet and it's team is said to monitor the exchange 24/7, users can be given a bit of assurance
Found on its order books, I discovered that the exchange seriously lacks liquidity on its three pairs. The BTC pairs had only 3 with liquidity to trade with, the ETH pair had just 6 and it's USD pairs of which only USDT had pairs with liquidity totalling 10 indicated that this exchange still lacks
All the same, it's a good Exchange and users can be assured that the prices placed aren't influenced
Pros
- The Vinex Network exchange has a good security setup. Most of its users funds are said to be stored in a cold wallet limiting funds on the exchange for hackers to access
- Making withdrawal on this exchange doesn't make KYC mandatory
- There is an airdrop pool on this exchange from which users can earn little coins
- A moderate trade fee of 0.1% for both market makers and market takers
Cons
- The Liquidity on this exchange is very low
