Review on IDAX by Olugbenga Ajayi
Another scam in the name of exchange
Idax is an exchange from the Mongolian. It is known to be housing multiple crypto assets including lots of altcoins and that answers for it's liquidity.
The exchange has most of it's assets kept in cold storage and it's trading platform is fast and easy to use for both advanced traders and newbies.
In terms of deposit, Idax does not trade flat currency hence it only accepts crypto deposit. All transactions are charged based on whether it is from akers or makers which is 0.10% and 0.15% consecutively.
However the bad news is that the CEO of this exchange is no where to be found hence deposit or withdrawal is not possible and there is no information to allay the fears in the traders. In a lay man language, the exchange has defrauded its users.
Pros
- It has quite a nice trading platform which is suitable for newbie and advanced users
- Assets are stored in cold storage
- The transaction fee is fair and withdrawal fee is within the industry standard
Cons
- It does not support flat currency
- It is a scan. The CEO cannot be traced and deposit and withdrawal has stopped
