Review on VINEX Network by Olugbenga Ajayi
Vinex exchange is struggling with low liquidity
Singapore is a country with many crypto exchange. Vinex is one of these exchanges. It was established in 2018.
There is no information about the founder or the team behind it and I doubt if it is licensed already as information concerning this is also elusive. This can really be a marker for lack of transparency.
Vinex support BTC and ETH and multiple altcoins. However until now the exchange is still struggling and grappling with low liquidity. That likely answers for why they offer discounts for large volume trading in other to increase their liquidity. This exchange does not support any flat currency so it only accept crypto currency for deposit.
The charges of 0.25% placed in takers and makers is somewhat above industry standard. Also they charge 0.008 BTC on withdrawal which is also on the high side.
In terms of security, they score high in that they make use of airgrapped cold storage.
Trading experience on vinex is not likely to be as rewarding as expected due to the low liquidity and high transaction fees.
Pros
- It support BTC, ETH and some altcoins
- It is secure with all asset in airgrapped cold storage
- Does not charge on deposit
Cons
- The withdrawal few is too high
- Does not support flat currency
- The liquidity is low
