Tidex is a decentralized Wave-based exchange that allows users to trade in top cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc., as well as Waves assets, like digital fiat currencies such as WUSD and WEUR. Just like the Waves platform, Tidex allows you to list your custom token (appcoin) after undergoing necessary KYC/AML procedures and approval. There are 75 coins listed on Tidex Exchange,at the time of writing this review, and their number is increasing.
Formerly based in the United Kingdom, Tidex has now moved their operation to the United States and Russia. Its trading platform and website are currently available in English and Russian. Like most of the biggest US crypto venues, Tidex is not regulated.
As claimed on its website, Tides protects the exchange from involvement with any criminal activities such as money laundering, by following the guidelines for Money Services Business (MSB) operating in the US, according to a decree by the Financial Crimes Enforcement Network (FinCEN).
As specified on its website, Tidex has various account verification stages which demand user participation and verification. The exchange holds the right to determine, at its sole discretion, the suitable verification level and standards for all users.
Tidex’s offers a web-based trading platform just like most cryptocurrency exchanges. While most of them also offer their platforms on mobile applications as trading on the go amass popularity among all types of investors, the case is different with Tidex. Its platform has a user-friendly interface and is furnished with high-grade charting with varying time frames and design options, a wide range of technical analysis indicators, order book, trading history, toolbox etc.
The digital coins you can trade in with Tidex are Bitcoin Cash LiteCoin, Ethereum, EOS, Dash, EOS, Doge, etc. However, the exchange does not support some cryptocurrencies that seem to be very popular recently, like Ripple, Steem, OmiseGo, Monero, and Zcash, while other rare digital coins such as Monetha, Oceanlab, Enjin Coin, and the likes are listed on Tidex
Tidex started its exchange with a zero-fee model for traders, but now the promotion time is up, and these fees apply: 0.1% market maker, 0.1% market taker fee. However, this pricing appears competitive and is just the same as most cryptocurrency exchanges offer. Don’t forget that deposit and withdrawal fees also apply, which is determined by the digital currency you choose to deposit or withdraw.
Deposits and Withdrawals
Deposits and withdrawals in fiat currency are not allowed by Tidex. Therefore, conventional payment methods like PayPal, credit/debit card payment, and bank wire are not allowed. This is quite reasonable as the exchange does not support exchanging tokens for fiat money. Nevertheless, that kind of approach is not beginner-friendly.
Tidex does not give a specific minimum deposit level, which is common in the cryptocurrency world.
Is Tidex Safe?
As stated earlier, Tidex is not a regulated exchange. Therefore, we cannot guarantee your money is safe.