In Depth Zoomex Review: Key Finding of a Crypto Exchange

This new Singapore-based crypto exchange “Zoomex” is already beginning to grab the attention of users and fellow exchanges in the crypto market because of its focus on users and the functionality of its trading platform. Zoomex was founded to provide easy trading services and a secure environment, which is why many new and experienced traders consider Zoomex a top preferred choice. As for its strength, which is the technology it employs together with the many cryptocurrencies it supports, it seeks to offer a great trading platform.

Highlights: 

• Security audit passed
• No mandatory KYC is required 
• Secure and 100% compliant 
• Diverse trading options
• Low fees and VIP benefits
• Generous awards 
• Innovative and Engaging Campaigns for Crypto Traders

Trading Desk: Range of trading services, including spot and derivatives trading

Year Founded: 2021

Headquarters: Singapore

Regulation: Regulatory framework of the jurisdictions it is registered in

24/7 Support: Yes

Support Email: [email protected] 

Telephone: Not available

Address: NA

Languages: English, Korean, Chinese, Japanese, Vietnamese, Spanish, Deutsch and Russian

Web and Mobile Trading: web-based platform and mobile applications for iOS and Android

Deposit Methods: Credit/debit cards, and various cryptocurrencies

Withdrawal Methods: Cryptocurrency transfers

Key Features of Zoomex

• No KYC required to get started

With Zoomex, you can trade without mandatory KYC (Know Your Customer) verification. Access Zoomex’s trading features and tools without providing personal identification documents or going through the KYC process. Zoomex prioritizes user privacy and anonymity, making it appealing for traders who value privacy. However, there are withdrawal limits for unverified users, which can be increased by completing basic KYC. While the no-KYC feature simplifies the onboarding process, some users may have concerns about the platform’s security and compliance measures without mandatory KYC. Furthermore, non-verified users can withdraw up to 100 BTC daily, while completing basic KYC increases this limit to 200 BTC, providing flexibility for active crypto traders.

• Futures Trading with High Leverage

The platform specializes in futures trading, offering leverage of up to 150X in some tokens (explained below). This allows traders to amplify their potential returns, though it also increases risk. Users can engage in trading various perpetual contracts with different collateral options. Furthermore, leveraged tokens and traditional futures contracts differ significantly in structure and trading mechanics: 

• Structure and Management

Leveraged Tokens: These are ERC-20 tokens that provide automated leveraged exposure to an underlying asset without requiring margin accounts or collateral. 

Futures Contracts: These are agreements to buy or sell an asset at a predetermined price at a future date. 

• Risk and Reward

Leveraged Tokens: While they reduce liquidation risk, they still carry high volatility and can lead to amplified losses. 

Futures Contracts: These involve higher risk due to the potential for significant losses exceeding the initial investment if the market moves unfavourably. 

• Copy Trading Feature

Zoomex includes a built-in copy trading service that enables users to replicate the trades of successful traders automatically. This feature is particularly beneficial for novice traders looking to learn from experienced ones. Choose traders based on performance metrics and set their parameters for trade execution. 

• Decentralized Exchange (DEX)

Zoomex recently launched a DEX that allows users to trade directly from their wallets, enhancing security and control over assets. This feature eliminates the need for intermediaries, reducing risks associated with centralized exchanges. The DEX includes smart contract integration for transparent transactions and a user-friendly interface designed for ease of use. 

• Robust Security Measures

Zoomex emphasizes security by utilizing cold wallets for client funds and implementing multi-level authorization protocols. This commitment to security helps protect user assets from potential breaches.

Account Types on Zoomex

How You Can Get Started with Zoomex?

Step 1: Visit the Zoomex Website. Go to the official Zoomex website.

Step 2: Sign up for an account. Click on the “Sign Up” button. You can register using your email address, mobile number, or through your Google or Apple account. Create a strong password and complete the verification process by entering the code sent to your email or phone.

Step 3: Secure your account. After signing up, it’s recommended to enhance your account security. Set up two-factor authentication (2FA) using either phone verification or Google Authenticator. This adds an extra layer of security to your account.

Step 4: Deposit funds. Once your account is secure, you can deposit funds. Zoomex allows you to deposit cryptocurrencies or buy crypto directly using a credit card.

Step 5: Start trading. Explore the trading interface. Zoomex offers various trading options, including spot and futures trading with leverage. Familiarize yourself with the trading screen, order types, and how to open and close positions.

Step 6: Withdraw funds. When you’re ready to withdraw your earnings or funds, navigate to the withdrawal section and follow the instructions to transfer your assets to your external wallet.

Step 7: Participate in promotions. Keep an eye out for any ongoing promotions or competitions, such as the World Series of Trading, which may offer additional rewards for participation.

Account Setup and Verification

The creation of an account on Zoomex is quite simple, this is because its organizers have seen fit to make the process an easy one. The initial process of registration involves the user-given email address, then generating a new powerful password, and lastly accepting the service’s terms and conditions. 

While setting up an account with Zoomex, you can get started without mandatory KYC verification. However, there are withdrawal limits for unverified users, which can be increased by completing basic KYC. While the no-KYC feature simplifies the onboarding process, some users may have concerns about the platform’s security and compliance measures without mandatory KYC. 

Furthermore, non-verified users can withdraw up to 100 BTC daily, while completing basic KYC increases this limit to 200 BTC, providing flexibility for active crypto traders.

Assets and Trading Options

While Zoomex recognizes over 300 digital assets in future and approximately 50 in spot; the most popular ones are Bitcoin (BTC) and Ethereum (ETH). With such a range of options, users can easily expand their investment range if this is desired. The platform offers several trading options:

Spot Trading

Free cryptocurrencies at current market prices at which you can buy and sell them respectively.

USDT Perpetual 

This alternative uses Tether (USDT) as collateral, allowing traders to enter positions while avoiding exposure to the underlying asset’s volatility. You can profit from the price movements of the underlying cryptocurrency while maintaining a stable collateral value in USDT. This makes it easier for users to manage their risk and predict potential returns without worrying about the fluctuations in the collateral itself.

Inverse Perpetual 

In this contract, the collateral is the cryptocurrency itself (e.g., Bitcoin or Ethereum). This means that profits and losses are realized in the underlying asset rather than a stablecoin. Furthermore, Inverse Perpetual contracts allow traders to gain exposure to the underlying asset’s price movements directly. 

Copy Trading

Zoomex’s Copy Trading feature allows users, especially beginners, to replicate the trading strategies of experienced traders, known as master traders. This feature is designed to simplify the trading process and enhance profitability without requiring in-depth market knowledge.

Fees and Costs

Trading Fees

For regular users, Zoomex charges a 0.02% maker fee and a 0.06% taker fee for derivatives trading. Spot trading fees are slightly higher at 0.1% for both makers and takers.

VIP Program

Zoomex offers a VIP program with five levels, providing reduced fees based on trading volume. For instance:

VIP1: 30-day trading volume of at least $5 million results in a maker fee of 0.020% and a taker fee of 0.036%.

VIP2: At $10 million, the taker fee drops to 0.033%.

VIP3: For $30 million, both fees are further reduced to 0.01% (maker) and 0.03% (taker).

VIP4: At $50 million, the maker fee is 0.006% and the taker fee is 0.027%.

VIP5: For $100 million in trading volume, the fees drop to 0.002% (maker) and 0.024% (taker).

Deposit and Withdrawal Fees

Zoomex does not charge any fees for deposits. Withdrawal fees vary by asset; for example, withdrawing Bitcoin incurs a fee of 0.0005 BTC, while Ethereum withdrawals cost 0.005 ETH.

Promotions and Bonuses

New users can benefit from a significant signup bonus, which can go up to $45,115, based on their initial deposit and trading activities. Additionally, users can complete tasks for exclusive rewards.

Security and Safety

Precautions at Zoomex are very tight for security reasons. The platform ensures that the users’ funds and data are secure through several measures. Key measures include:

Two-Factor Authentication (2FA): Enhances the protection of the account logins.

Cold Storage: The user’s money is kept offline to avoid exposure to various online risks.

Regular Security Audits: This is done using the services of third-party firms so as to get a neutral view of the vulnerable points.

Insurance Fund: Offers protection in the event of an actual or attempted security violation or some other mishap.

Regulatory Compliance and Legitimacy

Zoomex has various policies and follows the legal procedures of trading in order to meet the required regulatory honesty and safety. The primary system has strong know-your-customer and anti-money-laundering measures to minimize unlawful conduct. That is why, Zoomex is also authorized in several countries, which makes it more reliable and well-protected. 

Thus, following the international financial legislation, Zoomex sets a goal to become a reliable and trusted service for users.

Community Sentiment and Reputation

Taking into account the presented data, it is possible to conclude that the majority of consumers share rather positive attitudes toward Zoomex. The audience often appreciates the platform’s stability, rich security options, and attentive support. An analysis of the comments made on commerce websites, as well as on social media platforms, leads to the conclusion that customers are satisfied with the kind of trading experience Zoomex offers. Yet, some users complain occasional problems with the verification take time or some technical problems, now the platform is being worked on to be solved.

 Pros

– Both the newcomer or the intending traders executing this platform.

– No KYC needed. 

– Compatible with a wide variety of digital resources.

– Sometimes it means a fee schedule that is based on some sort of sliding scale.

– Adopts higher security measures and an institution insurance fund.

– Multiple ways of using the support and teaching material provided on the website.

– Complies with the international regulatory standards hence increasing users’ confidence.

Cons:

– Verification delays

– Variable withdrawal fees

Conclusion and Recommendation

Zoomex is a stable and reliable platform to exchange cryptocurrencies by providing services and tools needed for the newbie and professional trader. It is secure, adheres to various regulations, and is designed to be user-friendly which makes it possible for users to trade in digital assets. 

Despite the aforementioned cons consisting of high withdrawal fees and possible delays in verification, the pros, moreover, the positive feedback provided by the users of Zoomex can convincingly announce this company as one of the prominent players in the sphere of cryptocurrency exchange. In particular, it is suitable for those who want to start trading or expand the existing list of shares to invest in.