The mushrooming of hundreds of cryptocurrencies then saw the need for an exchange platform, where investors could buy and sell one cryptocurrency for another. Trustdex exchange is one such platform where buyers and sellers meet to exchange one virtual currency for another. But before making it your number one choice of an exchange platform, there are dozens of things to discover as the paragraphs unravel, so keep rolling along.
What is Trustdex?
Trustdex brags of a trading platform for investing in virtual currencies that caters for both short-term and long-term investors while offering the fastest returns on investments at the most competitive costs. The exchange company provides high liquidity cross-platform trading for the leading currency pairs in the market via its website and mobile applications. In addition to offering exchange services, Trustdex has also rolled out the opportunity for users to enjoy peer-to-peer lending of Bitcoins. Trustdex declares its focus on the Vietnam market with a rapid expansion to the Asian market. In addition to Vietnam and Asia, the exchange company has declared its services open to over 99% of the countries across the world. Despite having its roots firmly established in Vietnam, the company is a crypto-exchange service of TrustPay Ltd, a UK-registered company.
It has three main registered addresses of its offices which include;
- TRUSTpay UK
- 352-356 Battersea Park Road, London, SW11 3BY, England
- TRUSTpay US
- 328 Prospect Street, Brockton MA 02301
- TRUSTpay AU
- 7 Percy St, Southport, QLD, 4215, Australia
- Trustdex is directly managed by TRUSTpay JSC which was established in October 2014 in the USA.
Are there any set limitations for buying and selling amounts on TRUSTdex?
- The minimum and maximum trading amounts vary according to the type of account owned by an investor and can be viewed on the trading page while making an order.
- Generally, the verified accounts have a higher daily deposit limit of USD 10,000 and monthly limit of USD 100,000.
- Trustdex platinum accounts come with more privileges in terms of buying and selling limitations which are achievable through high trading turnouts.
- Additionally, the company offers corporate accounts with even higher trading limits compared to other accounts.
What are the buying and selling payment methods available on Trust Dex?
- There are diversified payment methods offered by the exchange platform including Visa, Mastercard, JCB, Trustcard, Bank transfers, and crypto-currencies.
- The payment methods are one of the greatest advantages that Trust dex users enjoy. In fact, there is an additional payment option in VND (Vietnamese Dong) known as Napas.
What cryptocurrencies are supported on Trustdex?
- The virtual currencies currently listed on the exchange platform include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Tether (USDT).
How can you get verified on TrustDex?
- In case you want to make withdrawals in fiat currency or raise your payment limits, TRUSDTDEX requires that you be verified.
- They will ask you to provide some personal information and supporting documents in order to prevent fraudulent activities on the platform.
- The verification steps on the exchange network are simple and intuitive and require the steps below to complete:
- Provide data on your identity document which may be a passport, identity card, or driver’s license. You will have to fill in the data of either of the documents using Latin alphabet characters.
- You will then be required to fill in some personal information which should be made in English or Vietnamese.
- Subsequently, you will be required to fill in your addresses.
- Finally, you will have to upload scans or photos of documents supporting the provided information. These will include a selfie as well as proof of residence.
Are there transactional fees charged on Trustdex?
Just like any other exchange platform, Trustdex imposes varying trading fees on its services. Below is a breakdown of fees charged for different services (at the time of writing) as provided by the TRUSTDEX Website.
- Transaction fee: 0.25%/transaction.
Margin trading fees
|Open fee||Rollover fee||Close fee|
|Free||0.03%||(0.25%+ Rollover fee)x Margin trading day|
Deposit and withdrawal fees
|VISA||3.3% + $ 0.5||No|
|MasterCard||3.3% + $ 0.5||No|
|JCB||3.3% + $ 0.5||No|
|Bank transfer||$ 1||No|
(Western Union, Money Gram, Xoom, EUI)
|VISA||3.3% + 10.000 VND||No|
|MasterCard||3.3% + 10.000 VND||No|
|JCB||3.3% + 10.000 VND||No|
|Napas||1.1% + 10.000 VND||No|
|Cryptocurrency (BTC, ETH, LTC)||0%||1%|
|Money transfer (Western Union, Money Gram, Xoom, EUI)||100,000||No|
Agent deposits and withdrawals
|VND – VND||0.03%|
|VND – USD|
|USD – USD|
|50 USD <||0.2%, Min 2 USD|
|2 USD-20USD||0.4%, Min 2 USD|
|1 USD||0.5%, Min 3 USD|
|Other currency||0.5%, Min 3 USD|
- The fiat exchange rate varies from 1%.
Investing-Lending services fees
In addition to the interest rates, the investing-lending services are charged an additional Trustdex 10% commission fees.
For users who would like to further explore the platform in terms of IBOs (Initial Bounty Offerings) and PAAS (Platform as a Service) options, there are separate fees charged for these services which are all available on Trustdex’s Website.
Does Trustdex have any special kind of features?
- Apart from acting as an exchange platform, Trustdex offers peer-to-peer Bitcoin lending services with varying interest rates previously outlined in a tabular format.
- The exchange company also hosts ICOs (Initial Coin Offerings) aimed at crowdfunding startup cryptocurrency and related projects.
- Furthermore, Trustdex offers digital banking, banking cards, and crypto mobile ATMs; services rarely offered by other exchange platforms. This is a milestone achievement.
Is Trustdex safe? Can I trust TRUSTDEX?
As a user, trader, or investor, the safety levels offered by Trustdex stands as one of the utmost important considerations to whether you can trust the platform or not. Some of the parameters that we will use to gauge the exchange company’s safety include;
- There has not been too many discussions from the Trustdex user community except a couple of reviews which have stood at a 3-star rating across different platforms.
- Nevertheless, the Trustdex website is deemed to be popular, despite not having established a solid online reputation so far.
- The identity of the Trust dex website is also not so clear, another possible lead as to why many users have not yet come expressed their views on the exchange platform despite using it.
Security? How are coins handled on Trustdex?
- Currently, there are no details clearly outlining the security features of the Trustdex exchange platform. This is quite worrying as we cannot be sure whether to trust them with our funds or not.
- However, the exchange site boasts of strong security (as has been casually mentioned) that includes protection against DDOS attacks, full data encryption, and PCI DSS compliant.
Customer support and handling speeds
- TRUSTDEX has an averagely rated customer support across their different platforms. With their Facebook page offering a nearly instant reply on requests made by users.
How to use Trustdex?
- Depending on the type of trade you want to engage in or the capacity you bare as an individual or partnership, Trustdex offer different types of accounts which you can register with depending on the level of convenience you want to enjoy. These include;
- Master Digital Asset Account; This is an account for individuals or groups that want to create digital assets such as cryptocurrencies, stocks, and bonds. The account offers liquidity to various digital assets at different rates of exchange.
- Master Agency Account; This is a special account for agencies that represent Trustdex in each market. The account manages currency at an undertaker country.
- Agency Account; This account provides services that support the remittance of e-money. It supports direct deposits and withdrawals to the Trustdex platform.
- Broker Account; This account wears different badges including individual users, agency, business partnerships, and a trading account that utilizes the exchange platform.
- Trader Account; The users of this account can be miners who dig and buy coins at Trustdex.
- Miner Account; The users of these account mine coins. Mining is the act of verifying transactions in a given cryptocurrency network. After registering with Trustdex, they will move you to a mining pool where you can actively and fully participate in the activity.
- Shark Tank Account; The users of this account enjoy preferential treatment. To join it, you must be in the diamond category of users. The account comes with vast privileges such as access to extra-large trading volumes.
Buying and selling Bitcoins
- If you just want to buy and sell Bitcoins using the exchange platform, they let you do it with just a few clicks at their buy/sell page.
- All you will need to do is choose the number of Bitcoins you want to buy or sell, select a respective bundle, and enter a custom amount.
- To execute the buying and selling orders, your account needs to be first funded with USD or VDN fiat currencies, or Bitcoins.
- Trustdex have a trade page for trading Bitcoins.
- On the page, you can analyze the trends in Bitcoin prizes, view the market depth charts, analyze different currency pairs, track trade history, and have a real-time overview of the order book.
Depositing and withdrawal of funds
- Depending on your verification status and account type, there are various privileges for deposits and withdrawals.
- Trustdex usually provides a detailed table on the account type with deposit and withdrawal limitations as well as the possible commissions.
- In case you would want to withdraw fiat currencies, you need to undergo a complete verification of your identity.
- Is Trustdex legit? Is Trustdex scam? Trustdex is more than just a cryptocurrency trading platform as it comes with plenty of other services such as ICOs and Trustdex Bitcoin peer-to-peer lending.
- Despite target the Vietnamese cryptocurrency traders, the platform enjoys additional players spread across different countries in the world.
- Trustdex has stood out as one of the few platforms with flexible payment methods and readily available charting analysis tools for its users.
- The fact that it lacks enough security information is, however, a factor that would plant the seed of doubt for many users regarding the safety of the exchange platform.
Pros of Trustdex
- The platform offers fair trading fees.
- It offers an easy to navigate trading interface convenient for beginners.
- The platform is accompanied by an array of trading tools include history charts, and real-time tracking of trading history thereby giving users more insights.
- Trustdex offers users a variety of trading accounts to suit their convenience.
- The platform offers its users a Visa card that can be utilized for instant conversion of cryptocurrencies into fiat Additionally, the cards can be used for payments and withdrawals at ATMs.
- It offers a mobile application making it possible for users to trade anywhere at any given time.
- The platform has its own e-wallet for storing and transferring cryptocurrencies.
Cons of Trustdex
- The exchange platform doesn’t offer anonymity for users since it requires a full identity verification for those who would like to withdraw in fiat currencies.
- There are certain trading terms that are quite unclear regarding the exchange platform, especially the trading fees.
- There is clear information available about the security offered on the trading platform.
- Trustdex has conflicting information concerning the fees it charges.
Thank you for checking out this TrustDex exchange review. Make sure to check out our website more often to always keep up with various crypto related news.