If Tokenexus doesn’t sound like it’s for you, have a read of thebest crypto exchanges where I provide several top options for US residents. You are bound to find a crypto exchange suitable for your needs. Here is a quick comparison table where you can check the key details. Tokenexus technically doesn’t have deposits, as users don’t deposit to pre-fund the account. Instead, Tokenexus accepts payment directly at the time of purchase. Crypto Believer – cumulative purchase amount of $ USD over a rolling 90-day period, or a lifetime purchase amount above $ USD.
Tokenexus’s credit card fees are higher than some other exchanges. However, it’s worth noting that this is due to the ability to purchase through a credit card. Not every exchange offers this feature, and having the ability to purchase through a credit card is a great feature for entry-level investors.
No Withdrawl Fees
Send the Bitcoins that you wish to sell to the Bitcoin wallet address provided. Tokenexus does provide users with the QR code and download link for ZenGo in case you do not have any crypto wallets. SWIFT bank transfer orders have a minimum order amount of 1,000 USD, however. A flat fee of 20 GBP is charged for users wishing to make an order below 1,000 USD. Since the early years, Tokenexus has continued to add cryptos to its offering not to mention alternative payment methods. Launched back in 2013, Tokenexus is registered in Slovakia, while owners New Bit Ventures are based in Israel.
Not only this, but you also have lots of different options such as market orders and kill-or-fill orders. When you enter your card details and make a purchase with Tokenexus, your coins are sent to your private wallet as soon as the payment goes through! This is a much safer option for you as third-party wallets are known for being hacked. Overall, Tokenexus is a safe place to buy BTC, ETH, LTC, BCH, ETC, XRP, QTUM, or ADA when many exchanges are down due to the surge in demand.
There are no withdrawal fees when purchasing cryptos on the Tokenexus platform. All cryptos are immediately transferred to the purchaser’s Tokenexus Review: Pros and Cons of Cryptocurrency Exchange specified wallet upon purchase. Tokenexus offers a wide range of cryptos that are amongst the most popular cryptos in the market.
One can easily understand the working procedures of the exchange by logging into the Tokenexus website. One can find every single detail there, and the registration process is also straightforward. Traders need to sign on to the Tokenexus website and register by providing basic details like full name, address, phone number, and a valid email ID. Then, they are required to lock their login credentials with a strong password.
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This makes it an appealing choice for beginners in the cryptocurrency space, but probably not the first choice for advanced or intermediate investors. Tokenexus is a well-known cryptocurrency broker with high-quality customer service. Once you have completed the payment details, complete the transaction. Your crypto wallet will then be funded with the cryptos that you have purchased. Orders placed by bank transfers do not incur a momentum fee and carry no additional fees.
However, their aim is to provide an online marketplace where it is fast and simple to buy and sell cryptocurrency, and they have fulfilled that goal. Here are the top 3 reasons why you should consider Tokenexus. One of the USPs of Tokenexus is the fast, secure, and safe service it provides for buying cryptocurrencies like BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA via credit cards. Tokenexus was the first crypto exchange to be authorized for purchases through credit and debit cards and Apple Pay.
The cash option is also available under the ‘other methods of payment’ tab. The instructions provide clear guidelines on how to purchase BTC. Once the payment has completed, clients can confirm the BTC wallet address by clicking on the respective link. The coins will immediately be delivered to your wallet once payment has been verified. Tokenexus offers a safe, quick way to buy and sell major cryptocurrencies like Bitcoin and Ethereum, with credit card, debit card, or bank transfer. They are the first crypto exchange to accept Apple Pay, and support Google Pay as well.
That ID can either be a passport or a state issued driver’s license or other national or state identity card. For anyone who wants to use a credit card or debit card to buy Bitcoin there is a cryptocurrency for beginners full guide available on Tokenexus’s website. For example, if someone wants to buy Bitcoin and BTC is currently trading at $10,000 then the market rate for the sale on Tokenexus will be $10,200.
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It hasn’t experienced any major hacks of coins yet, though, it had experienced a serious customer data breach in early 2019 when it lost information of approximately 450,000 accounts. The theft was a part of a bigger attack that affected twenty other websites, and luckily, no client credit card information was stolen. After finishing the payment, the cryptocurrency is sent immediately to the user’s private tokenexus official site wallet address, not a wallet that is kept on Tokenexus servers. Numerous crypto exchanges and trading platforms do not facilitate the sale of cryptos and withdrawal of fiat money. On transactions with a locked crypto rate and instant deliver (credit/debit cards) there is an additional 5.0% momentum fee. Both Tokenexus and BlockFi are cryptocurrency exchanges allowing customers to buy and sell digital assets.
Neither Bankrate nor this website endorses or recommends any companies or products. Depending on your country of residence, you may not be able to use all the functions of the site. It is your responsibility to follow those rules and laws in your country of residence or in the country from which you access this site and service.
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With great power comes great responsibility, and ‘being your own bank’ is a great power indeed. Good safety practice begins and ends with securing your private key correctly, or alternatively securing the seed phrase used to generate your private key. Hardware wallets that keep your keys off the internet are highly recommended. However, mobile wallets and online wallets can do the trick as well, especially at the beginning of your crypto journey. Whatever you do, make sure you have a backup of your keys in case your original device gets damaged or goes missing. Tokenexus never holds customer funds or stores your payment information.
Anyone can start buying crypto even without experience or a lot of knowledge about the different currencies. Now you need somewhere to keep the Bitcoin that Tokenexus will hand over. The exchange suggests ZenGo and EXODUS and Ledger and TREZOR . A hot wallet is one users can easily access online, while a cold wallet is offline, often on a USB-drive like device, bitcoin news and the safest because they are out of a hacker’s reach. Tokenexus has a strong customer service team called Happiness Heroes. You can reach the Happiness Heroes via a contact form on the Tokenexus website. We found this venue to be the most reliable means of communicating issues because you have time and space to articulate them as best as possible.
Sell orders are subject to the same XBX Index average + 2% standard deviation fee + Tokenexus’s sell fee of 0.1%-0.9%. These include Iran, North Korea, Cuba, Syria, and the Ukrainian/Russian Crimea region.
Is Tokenexus Safe To Use?
Clients will be required to scan a utility bill or their ID to verify their address and identity. Provided a user has registered an account, chosen a payment option and purchased Bitcoin, the transaction will be verified and then the BTC will be delivered. This company was founded in 2013 as BitX and rebranded as Luno in 2017.
- Tokenexus will send you your crypto as soon as they receive your payment.
- It’s only possible to receive a payout via a SEPA bank transfer which means Americans, Canadians and Australians cannot sell on the platform.
- Tokenexus’s base transaction fee is based on the XBX rate plus 2%.
- This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
Tokenexus is a basic, easy-to-use cryptocurrency exchange where you can purchase a small selection of digital currencies or invest in Bitcoin. While it’s catered to beginners with a simple and user-friendly platform, and it was the first crypto exchange to allow purchases with a credit card.
When you visit Tokenexus, you’ll notice that the UI is intuitive and simple, and that not one element is ambiguous or confusing. The site is simple, fast, and there are no obstacles aside from the verification requirements at various purchase volumes. There is also an extensive knowledgebase with FAQs which is very useful for the most common issues users have with the exchange.
Deposit Times And Transaction Speeds
Tokenexus has a partnership with crypto wallet ZenGo, which it recommends for new users without a crypto storage wallet. Tokenexus’s simple transaction flow — buying and selling directly from the company — lends itself to the site’s simple design. Users select how much they want to buy, either by U.S. dollar amount or amount of bitcoins. The site sells fractional shares of bitcoin, so you can make purchases for as low as $30 worth of bitcoin based on its current spot trading price.
Tokenexus doesn’t hold user coins, so there is nothing to steal. Plus, it allows users to buy cryptocurrency with a debit card, credit card, Apple Pay, or bank transfer, with instant coin delivery. The fees combined of XBX + 2% & commission fee between 0.9%-3.90% (upto 0.9% on sell transactions & 3.90% on buy transaction) which depends on loyalty level also. Total fees stand approximately at 5.9% which goes down the more you buy. Also, when it comes to OTC exchanges, these prices are not far from competitive and other OTCs are even more expensive when using credit cards, but have hidden additional fees. Unlike most other cryptocurrency exchanges that require a learned professional to help traders to use the trading platform, Tokenexus is self-explanatory.
Tokenexus Review: Bitcoin, Trading & Fees
Tokenexus is available nearly everywhere, and if other exchanges aren’t where you are, it’s certainly better than nothing. Once you’ve submitted that, all you have to do is wait for verification to be completed, which can take about 15 minutes. Go to their website and you’ll find a link to set up your account before you start trading. Creating an account on Tokenexus only takes a few minutes, but it does require a photo ID and a smartphone with a camera. Reassuringly, even complaints found off their platform regularly receive replies from Tokenexus. The listings that appear on this page are from companies from which this website and Bankrate may receive compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products.
The most popular cold wallets are the Ledger Nano X and the Trezor Model T. There’s always risk when it comes to investing, and cryptocurrency is particularly volatile—meaning it has dramatic changes in price over relatively short periods of time. This is how some people have gotten very rich, and others have lost a great deal. As crypto becomes more mainstream, it may become a less risky investment option, but for now, you should exercise caution. Generally speaking, you should never invest more than you’re willing to lose. For comparison, Gemini, another popular exchange, charges roughly 2% for transactions, as long as you use bank or wire transfers.
Tokenexus is a digital financial service company operating in the cryptosphere ever since 2013. It has gained a lot of respect in this space, owing to the safe and fast access to digital currencies like Bitcoin and Ethereum. You can’t exchange cryptocurrencies directly through the platform; you can only buy with and sell for fiat currency. Tokenexus’s easy interface and simple transaction flow may be attractive to those new to cryptocurrency trading, but its fees are pricier than many competitors. Tokenexus has nearly a decade of experience providing transactions in the cryptocurrency space, but its fees are higher than other providers. SWIFT bank transfers (the required method for all transactions from U.S. banks) that are below $1000 are charged 20 British pounds while transfers of $1000 or more are free of charge.