I tried Koinex platform, though it looks promising as you can trade real-time bitcoin,litecoin,ripple,ethereum and there is chat function to chat with fellow traders and support staff, it has very long way to go.
There are lots of negatives right now-
They are charging Rs 100 for KYC, I mean who does that.
They say they will adjust it in first trade fee but trade fee will be always going very small unless you are buying in lakhs, say in simple terms your Rs 100 in their pocket.
They are also charging Rs50 for password change, you heard it correctly, so don't ever forget your password, though they say you can put a deposit request for refund but this money they will credit on your trade account so either you will use it for trading on platforn and if you want to withdraw there is Rs 10 fee, so they will earn anyway.
Very low volume trade, there is very less number of users and very less trade is happening per day.
They are earning most of their money from registration and password change.
They are not giving any incentive to early adopters.
Rather than promoting their website and finding new users, they are creating hindrances.
INR withdrawal takes 2 days which is very high.
You can check their fee structure
here, it doesn't seem very lucrative to me.
So don't use this platform until it matures enough.
Some positives-
1.KYC completion will be done in 1-2 days considering everything goes smooth
2.Chat function
3.Litecoin, ripple support
all who are using this platform, let me know your experiences.
koinex is good to exchange crypto's but they are charging money to kyc and change password, but we have other alternative way to exchange our crypto's you can use wazirx ann
Show Posts
