Online reviews of the platform vindax.com, to put it mildly, are ambiguous. In addition, most of them are written in Chinese, Vietnamese, and other Asian languages.
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On European websites, the VinDAX cryptocurrency exchange has not yet become popular, and Russian-speaking users are mostly dissatisfied with the work of the platform. Our review will help you understand whether it is worth trading on vindax.com or they are scammers whose sole purpose is to extort more money from you.
Overview of general information about vindax.com VinDAX is a cryptocurrency exchange with an official registration in Vietnam. The platform offers trading in quite a large number of cryptocurrencies. As for liquidity, VinDAX shows very impressive trading volumes.
As of the date of writing this review (December 18, 2019), the volume of VinDAX for 24 hours was $652,607,376. 57.77% of this volume was BTC/USDT trading pairs. In terms of trading volume, the cryptocurrency exchange ranks 34th in the CoinMarketCap rating: VinDAX is also fully compatible with iOS, Android, Mac and Windows.
The cryptocurrency exchange uses applications of its own development, which should demonstrate the company’s interest in ensuring that customers get the best.
Review of objective facts and comparison with information on the vindax.com An exclusive trading terminal and getting into the TOP 50 largest exchanges in terms of trading volume is a good application for the fact that the cryptocurrency exchange is aimed at long-term cooperation. But user reviews make us doubt this.
You can check the information using any service that monitors the traffic of a web resource. It turns out that each user must trade for 141 thousand dollars a day, so that the trading volume corresponds to what the VinDAX cryptocurrency exchange claims.
Since the platform does not provide open access to the trades, you can view them only after registration by going to the terminal: As you can see, all transactions are listed in the local VD token.
At the time of writing the review, the rate was as follows: The review and processing of trading data allowed us to conclude that on average, 900 VD transactions are made per minute, which is equivalent to $34. In 24 hours, 1440 minutes, respectively, to calculate the real trading turnover vindax.com, you need 1440×34=48960.
We see that the real turnover of the exchange is only about 50 thousand dollars. Why there is such a huge difference is easy to explain. The cryptocurrency exchange uses robots that transfer capital through purchase and sale orders, and this, in turn, creates the appearance that the exchange is alive and actively developing. A review of the real Binance exchange showed that with slightly large trading volumes, the cryptocurrency exchange has 100 times more traffic: As you can see, the reviews that the VinDAX cryptocurrency exchange inflates statistics turned out to be true. This fact does not mean that the platform is a scam, but it already says that the creators of the project are working dishonestly.
Overview of trading on vindax.com
Cryptocurrency exchanges have certain trading views. The review showed that VinDAX has an absolutely standard terminal, which is no different from the competition. Among the main functions there are: the order book; a minimal set of graphical tools; several timeframes.
There are no built-in indicators and markers for conducting technical analysis. This is confirmed by user reviews. If we start from the quality of execution of the trading platform, we can conclude that the VinDAX cryptocurrency exchange has developed a product of average quality. However, this is generally enough to engage in trading. A review of user comments showed that customers are dissatisfied with the operation of the terminal.
We are not even talking about banal slippage, but about the fact that the site administration interferes with the trading process and manually cancels orders. Considering the fact that the software is designed specifically for vindax.com, and the cryptocurrency exchange stores the operating part of the program on its own servers, technically this is quite possible. There is no smoke without fire.
Reviews about the cancellation of orders are found in dozens, so there is every reason to listen to them. Overview of trading conditions vindax.com The VinDAX cryptocurrency exchange does not charge additional fees for buying and selling orders, as Forex brokers do. Instead, a model of fixed remuneration at the rate of 0.05%. This is 5 times less than the tariff of most competitors, which already raises questions.
The established trading commission can be made even lower if you have a certain amount of the exchange’s native token, VinDax Coin, with the ticker VD. The minimum possible trading fee that you can get is 0.02%, but you must have more than 2000 VD tokens.