What Is Crypto Exchange ?
A cryptocurrency exchange, sometimes known as a crypto exchange, is an online marketplace where users may purchase, sell, and trade different cryptocurrencies. The trading of cryptocurrencies like Bitcoin, Ethereum, and many others is made possible by crypto exchanges, just as it is made possible by traditional stock exchanges for the trading of stocks and other financial assets.
Users must register for an exchange account. Personal information must be provided, identity must be confirmed, and security measures like two-factor authentication must be set up. Users can make orders to purchase or sell bitcoins after funding their accounts. Orders can be of various forms, including market orders (buy or sell at the going rate) and limit orders (buy or sell at a set price).
Orders to purchase and sell from different users are matched by the exchange. A trade happens when the price of a buy order and a sell order match. The exchange executes a trade by transferring ownership of the cryptocurrencies between the parties whenever a trade is matched. In exchange for facilitating the trade, the exchange may collect a fee.
What Is Tidex Crypto Exchange ?
Users can trade different cryptocurrencies on the Tidex platform, which is an exchange for cryptocurrencies. It provides a platform for a variety of digital asset purchases, sales, and trading. It was created to meet the demands of both inexperienced and seasoned traders in the cryptocurrency market.
Tidex Crypto Exchange Quick Facts
| Exchange Name | Tidex |
| Exchange Service | Spot and futures trading |
| Exchange Launch Year | 15.06.2022. |
| Made In | London, Poland, Ukraine, Lithuania |
| Mobile App | Android & IOS |
| Fiat Option | Available |
| KYC | Required |
| 2FA Security | Available |
| Referral Program | Not Allowed |
| Support | Email & Live Chat Option Available |
| Official Website | Click Here To Visit |
How To Register At Tidex Exchange?
To register on Tidex , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.
You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.
Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.
Tidex Exchange Supported Countries
Tidex Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.
Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Tidex .
How To Verify Your Tidex Cryptocurrency Account ?
There is no mandatory verification at Tidex , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.
For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Exmo , Revolut platforms.
How To Buy Crypto Or Deposit Crypto At Tidex Crypto Exchange?
There are two main options for topping up your balance on Tidex . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.
Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.
After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.
Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.
Second Method
You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:
- Go to the “Deposit” section from the “Assets” menu.
- From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
- The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
- You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.
How To Withdraw Crypto Asset From Tidex Exchange ?
Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.
Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.
How To Secure Your Tidex Account ?
There are several steps you can take to help secure your Tidex account and protect your funds:
- Strong and Unique Password: For your Tidex account, come up with a strong and distinctive password. A mix of capital and lowercase letters, numerals, and special characters should be used. Avoid using phrases or information that is simple to guess, such as your name or birthday.
- Enable two-factor authentication : On your Tidex account by clicking the button below. By requiring a second verification step, typically using a smartphone app like Google Authenticator or Authy, while signing in or making purchases, this offers an extra layer of security.
- Use a Secure Email: Check the security of the email address connected to your Tidex account. Because email is frequently the entry point for password resets and account recovery, choose a strong password and enable 2FA for it as well.
- Whitelists for Withdrawals: Many exchanges, like Tidex, give users the opportunity to create whitelists for withdrawals. This means that only the wallet addresses that you have pre-approved will be used for withdrawals. Even if your account is compromised, this can stop unauthorized withdrawals from occurring.
- Regularly update Software : Your computer’s operating system, web browsers, antivirus software, and any other pertinent software. Security updates and patches frequently include solutions for flaws that hackers could take use of.
- Be Cautious of Phishing Scams: Be wary of emails, messages, or phone calls that ask for your personal information or account details. Tidex will never ask you for your password or 2FA code. Always double-check the URL of the website you are logging in to and make sure it is the official Exmo website.
- By taking these steps, you can help protect your Tidex account and reduce the risk of unauthorized access to your funds.
Fees taken when buying virtual currency
Tidex Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Normally, exchanges distinguishes between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
Tidex’s fee for takers is 0.10%. These taker fees are lower than the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. Regardless of which taker fee you compare against, 0.10% is on the low end.
Tidex Withdrawal fees
Tidex’s withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time.
Deposit Methods
This trading platform does not accept any other deposit method than deposits of cryptocurrencies. This means that new crypto investors can’t trade here. If you don’t have any crypto but still want to start trading at this exchange, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here.
How To Contact Tidex Customer Support Team?
If you need help with your Tidex account or have any questions, you can contact Tidex customer support through the following methods:
Check out the official website: Visit the official Tidex website. Usually, the footer, header, or contact page of a website has contact details, including a support area.
Email: Look for a customer service-specific email address. The email address can be something like [email protected] or [email protected]. Send them an email outlining the problem or question you have.
Ticket System : Tidex, among other exchanges, uses a ticket system for client help. There may be a “Submit a Request” or “Contact Us” link on their website that takes you to a form where you may explain your problem and submit it as a ticket. They will then reply to your email query.
Live Chat: For immediate assistance, some exchanges include a live chat service. Initiate a conversation with a support agent by looking for a chat button or link on the website.
No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Tidex customer support can assist you efficiently.
Features Of Tidex Crypto Exchange
Trading Pairs
Like any other cryptocurrency exchange, Tidex is likely to provide a range of trading pairs that let consumers trade one cryptocurrency for another.
User-Friendly Interface
Especially for newbies to the cryptocurrency industry, a user-friendly interface is essential for simple navigation and trading execution.
Strong Security
features are essential to safeguarding users’ assets, including two-factor authentication (2FA), cold storage for the majority of cash, withdrawal whitelists, and encryption.
Liquidity
A good exchange will have enough liquidity to ensure seamless trading with little price slippage.
Chating Tools
Comprehensive charting tools and indicators support traders in their analysis of market patterns and decision-making.
Order Types
Users have freedom in how they execute trades thanks to basic and complex order types (market orders, limit orders, stop-loss orders, etc.).
Tidex Good Or Bad Points
Tidex is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Tidex :
Good points:
- Variety of Cryptocurrencies: Tidex provided a large selection of cryptocurrencies for trading, giving customers access to more coins and tokens besides the well-known ones like Bitcoin and Ethereum.
- Security Measures : Tidex most certainly has security safeguards in place to safeguard customer payments and private data. Features like two-factor authentication (2FA) and cold storage for the majority of customer cash may be included in this.
- Liquidity : Higher exchange liquidity typically translates into faster and smoother trading because there are more buyers and sellers accessible. Despite not being the most liquid exchange, Tidex may have provided a respectable amount of liquidity for some of the most well-known cryptocurrencies.
- Availability: This is available in over 200 countries around the world, making it accessible to a wide range of users.
Bad points:
- Regulation and Transparency: The degree of transparency and regulatory compliance among cryptocurrency exchanges varies. Users should exercise caution while using exchanges that lack adequate regulation or transparency in their business practices as doing so could put them at danger.
- Customer assistance: Due to increased demand, many exchangers struggle to deliver fast and efficient customer service. Users might have had delays in receiving answers to their questions or solutions to their difficulties if Tidex had comparable challenges.
- Hacker Risks: Because there is a chance to obtain a lot of valuable assets, cryptocurrency exchanges are frequently targeted by hackers. To reduce this danger, an exchange must have strong security procedures in place.
- Issues with Deposits and Withdrawals: Some users may have encountered challenges or delays while attempting to deposit or withdraw money from Tidex. These problems can be annoying and cause user mistrust.
- Market Manipulation : Exchanges have occasionally been charged with engaging in or facilitating market manipulation. Investors and traders who depend on fair market conditions may suffer as a result.
Is Tidex Is Safe Platform To Trade ?
Tidex Be on the lookout for features like two-factor authentication (2FA), cold storage for the majority of your money, recurring security assessments, and powerful encryption techniques. Check to see if the platform is subject to local regulatory oversight. Regulation can increase the platform’s operational responsibility and monitoring.
Investigate the platform’s history, user opinions, and any security incidents that have been reported. Positive indicators include a solid reputation and a lack of security problems or complaints. A healthier and safer exchange environment is typically associated with higher trading volume and liquidity.
When you run into problems or have queries, prompt and helpful customer service may be essential. The likelihood of making mistakes while trading can be decreased by a platform with intuitive UI.