Last year in 2018, technologies such as artificial intelligence, machine learning, and blockchain disrupted the world by storm. This has been a tremendous tech year!
Amongst all the technologies, undoubtedly, blockchain rose to fame as the uncrowned champ in the year 2018. it changed the norms of various industries, with its high-end security, transparency, multiple applications, and advanced integration.
Statista predicts the blockchain market to reach $2.3 billion by 2021. So today we are going to review one of the exchanges from Mongolia.
What Is IDAX?
IDAX originated from GBC Global Blockchain Research Center. IDAX is GBC’s worldwide digital resources service platform that is designed for blockchain exchange research.
The exchange 24 hours trading volume is $263,173,600.90 (23,228.47 BTC). Moreover, this exchange supports 95 digital currencies and 153 trading pairs. According to Alexa ranking for sites, this exchange site has 65739 ranks around the world. The site Alexa ranking in South Korea is 8541.
The platform is dependable and user-friendly cryptocurrency exchange which has numerous capacities like multi-cryptocurrency, multi-language options and top security engineering that guarantees safe transactions of digital resources.
IDAX platform gives more secure and effective blockchain resource exchange service to the customers. Compared to customary digital resource exchanges, IDAX has dominance on its safe technology security, comfort and smooth transaction, strict money checking, national arrangement support and settled resource support.
GBC’s best blockchain tech research team to work on different best worldwide blockchain projects.
New Digital Coin:
They have a structure set up which introduces digital coins to the market. Besides, they also provide blockchain individuals and organizations with less expensive digital resource exchange utility and highly proficient administration utility of clearing activity.
Stable Resource Provisions:
GBC is set to be financed $300 million USD by the Mongolian National Team, who is also their consistent financial source.
No fiat monetary Deposit
IDAX is a digital resources exchange, which involves just cryptographic forms of money and tokens are being exchanged against each other. The exchange doesn’t accept fiat currency for deposits like EUR or USD. This is a noteworthy drawback, however, if you don’t have any coins, you should go through a “door exchange” first.
No Margin Trading
The exchange does not support margin trading for any of its cryptos, so if you are looking to exchange use loans to be able to buy more coins, then this site is n’t for you.
IDAX Trading Fees
For trading, the Mongolian exchange charges a flat trading fee of 0.20% for both taker and maker fees. This is same as with other exchanges charge on average at an industry level.
The exchange does not charge any fees for depositing. The withdrawal fee is 0.0001 BTC when you withdraw BTC. , this fee is lower than what the global industry average is. Withdrawal fees vary from crypto to crypto.
They are striving to be the highest quality digital resource exchange platform of the blockchain ecosystem. They are impelled by essential principles like security, steadiness and modernity. Moreover, the exchange supports 95 crypto coins and has 153 trading pairs. Professional team to support you 24*7. Lack of fiat deposit options, that makes a troublesome for new users. Overall, it is good for seasoned investors, especially Asian or Chinese clients.
For additional information about the platform, you can visit their site idax.mn