TimeX Exchange Review 2024 : Cryptocurrency Platform Insights

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Hundreds of cryptocurrency exchanges are available online, all claiming to be reliable. Therefore, it is common to fall into the wrong hands. Before registering on a platform, traders should consider important factors like registration, trading fees, transparency, etc. This TimeX exchange review is written keeping in mind the needs of the traders so that they can weigh the pros and cons of the exchange and decide whether it will meet their preferences.

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TimeX Exchange Overview

• Australian based cryptocurrency exchange launched in 2019.
• Allows investors from all over the world to execute the trade on the platform; No restrictions for US investors found on its website.
• Non-registered users can also execute the trade on the platform but up to a specific limit.
• Offers lucrative affiliate programs to users.

What Is TimeX Exchange?

TimeX is a hybrid cryptocurrency exchange based on Ethereum’s Plasma technology. The platform was launched in July 2019 by the Australia-based blockchain project ChronoBank. The exchange was primarily developed to enable fast, secure, transparent, and cryptographically-guaranteed trading that ensures security on a peer-to-peer basis.

Though TimeX has the potential to settle trades on the blockchain for ultimate security, it centrally matches clients’ orders to allow for their real-time execution, thereby avoiding the inherent problems of traditional decentralized exchanges like order collisions and front-running.

How Does TimeX Exchange Work?

The TimeX exchange works on the Taker and the Maker model of placing crypto orders and matching each other’s orders before executing a trade between them in exchange for specific trading fees.

Features of TimeX Exchange

TimeX offers the following core features to its users:-

Simple Trading View

The trading view of TimeX is intelligently designed to provide traders easy monitoring of their accounts or trading activities. The price chart, along with the other key features, is displayed clearly in the trading view. The trading view features two variants- a simple minimalist view featuring only the crucial menu options that help traders to focus only on what’s important and a compact view that displays other menu options and the various market indicators. Moreover, the Settings menu allows traders to select the view (minimalist or compact) that suits their preferences.

Deposit Methods

TimeX accepts deposits in both crypto and fiat currencies. However, Fiat deposits are accepted only via wire transfers, but the management is working to integrate other deposit options, like credit card and debit card payments. This makes it very convenient for the first-time crypto traders who have not had any crypto dealings before and thus do not hold any cryptocurrencies in their wallets.

Opportunities for Non-registered Users

TimeX allows traders to purchase digital currencies on their platform even without signing up on the exchange. However, this is only possible if they want to make a transaction that is below $300. To make transactions for higher amounts on the TimeX platform, users must create an account with TimeX.

Multiple Trading Assets

TimeX supports various trading assets to users like Bitcoin, Ethereum, Litecoin, DAI, Tether, Ripple, etc. The platform also helps many other altcoins accommodate users who cannot afford the expensive ones.

Product & Services Offered by TimeX Exchange

TimeX offers some of the unique products and services to its users for enhancing their crypto trading experience on the platform:

Affiliate Program

TimeX exchange offers a generous affiliate program that allows users to invite their friends and family to create an account on TimeX Exchange. When their friends and family open accounts with the TimeX exchange, the existing users receive rewards for their referrals. Users keep receiving rewards for their direct referrals, up to the fourth person. Users can earn up to 80% on the accumulated trading fees generated by their friends they have invited or referred to the TimeX Exchange. This percentage is high, at least the highest that has ever been recorded in the crypto industry so far.

Robust API Support

TimeX provides powerful API support that allows users and developers to build valuable resources such as trading bots that will enable them to harness high-frequency trading. In this way, developers can easily automate their trading strategies for a more efficient trading experience. Moreover, the API support also amplifies the trading speed at which trades are executed.

Trading Terminal Integration

The terminal integration service offered by the TimeX platform allows users to leverage the TimeX API Keys by integrating their TimeX trading account to various affiliate trading tools for a more versatile trading experience. For example, users can easily incorporate a trading app like TabTrader and their existing app for a more amplified experience. After integration, they can access their TimeX order books on the go using the app TabTrader.

AUDT Transactions

TimeX supports AUDT and USDT transactions, which helps them monitor the volatility of digital assets such as Ethereum (ETH) and Bitcoin (BTC) in the financial market. AUDT is a stable coin that is pegged to or backed by another stable asset like gold or any fiat currency. The Australian dollars support AUDT on a ratio of 1:1. The stable coin is fully regulated by AUSTRAC (Australian Financial Intelligence Agency).

OTC Trading

TimeX offers excellent OTC (Over Counter) services. OTC services allow customers to bypass the exchange’s market price and easily access any digital asset as quickly as possible.

TimeX Exchange Review: Pros and Cons

How to Buy/Sell/Trade With TimeX Exchange?

For buying or selling bitcoins on TimeX, traders need first to open an account on the platform and then follow these steps:-

• Deposit funds into their account.
• Enter the amount of BTC or equivalent Australian Dollars that users want to buy or sell.
• Click on the “Buy” or “Sell” option to confirm the BTC purchase or sale, and the bitcoins will arrive in the TimeX wallet or will leave the wallet (if the sale is initiated) within a few minutes.

Getting Started With TimeX Exchange

Signing up on the TimeX cryptocurrency exchange is straightforward and takes only a few minutes to set up the platform before traders can proceed to trade. However, to open an account on TimeX, the traders need to be at least 18 years of age. Traders simply need to visit the official website of TimeX and fill out some personal details and information for registration like email address, phone number, and a strong password. Then they will have to wait for a few minutes for the verification process to initiate and complete successfully. After the verification is done, an activation link will be sent to the trader’s registered email address that they need to click on, and their accounts on the TimeX platform will be activated in no time. Traders can then start trading by funding their accounts.

TimeX Exchange Fees

In every trade, there are always two parties involved- the maker and the taker. A maker is one whose orders exist on the exchange’s order book before the trade, whereas a taker places the orders only when they match with the maker’s orders. Makers’ orders create liquidity in the crypto market, whereas the takers’ orders remove this liquidity by matching their orders with their orders. The TimeX exchange charges the following trading fees from the takers and the makers.

TimeX Trading Fees

The trading fees for takers on the TimeX exchange are 0.50%, which is approximately two times that of the industry average, somewhere around 0.20% to 0.25% or even lower these days. The maker’s fees on the exchange are around 0.25% which is also above the industry average. Thus, the trading fees at TimeX are a bit on the higher side. But from the various TimeX exchange reviews, it appears that the customers don’t mind paying a little higher fee as long as they are getting other advanced features on the platform along with the robust security mechanisms safeguarding their assets.

TimeX Withdrawal Fees

There is no information available on the exchange’s website regarding the withdrawal fees.

TimeX Exchange Deposit & Withdrawal Method

The TimeX exchange allows users to deposit and withdraw funds to and from their accounts in several ways, including fiat currency deposits via bank deposits or credit card purchases. Australian traders are also allowed to use their bank accounts to deposit funds into their trading account. Users residing outside of Australia can use the card deposit option to deposit funds.

TimeX Supported Cryptocurrencies and Countries

The platform supports almost all leading cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, Tether, etc. Some altcoins are also available to trade on the platform. As TimeX is a web-based platform, it is open to all persons across the world.

TimeX Trading Platform

The trading platforms are generally created to oversee investors and traders’ activities, so it is impossible to execute a trade without a good trading platform. Efficiency, ease-of-use, and smoothness are some of the key factors that users look for in a trading platform, and the TimeX trading platform is precisely what the users seek. It is highly efficient and easy to operate, looks like a traditional decentralized crypto exchange, and thus easy to understand for both novice traders and professional ones. The trading system on TimeX is created so that trades are effectively matched without any lag or front-running risk, as they often occur on a normal cryptocurrency exchange platform. There is also a guideline available on the website to help traders understand how the TimeX exchange works. Also, large trades worth over AUD 25,000 and subject to regular monitoring by the OTC desk to ensure an optimal trading experience to users. The TimeX trading platform is also easily customizable to cater to each investor’s taste and preferences by giving them a feeling of uniqueness on the platform.

TimeX Exchange Mobile App

The TimeX exchange does not have a mobile application now. Still, the development team is bringing a robust mobile app that will be compatible with all leading operating systems.

How to Start Earning with TimeX Exchange?

Registered users can either earn by executing a trade on the TimeX platform, buying supported crypto coins, selling them and bagging the proceeds, or referring the platform to their friends and family. As soon as the new traders create an account on the platform, the existing users earn lucrative rewards on their referrals.

TimeX Exchange Security Measures

TimeXexchange has incorporated some of the hi-tech security measures to repel third-party interferences. The platform employs standard SSL security protocols further enhanced by the top-notch 2FA (Two Factor Authentication) technology. The platform stores user data and funds across an offline crypto wallet where they are safe from any cyber hacks to add an extra layer of security. Additionally, TimeX employs KYC (Know Your Customer) and AML (Anti Money Laundering) protocols. This way, the exchange can report any irregularities that it can detect during the execution of any trade transaction by the exchange’s customers.

TimeX Exchange Customer Support

One of the critical selling points of any cryptocurrency exchange service is an efficient customer support team working behind who can be contacted at any time of the day through various channels. As for TimeX, many good reviews from users and customers operating on the platform indicate that the customer support service is very satisfactory. The customer support representatives are very adept in handling trading issues within the digital trading ecospace. Also, getting in touch with the customer service team at TimeX is relatively easy. Users can connect to the team via Live chat, e-mail, or telephone. Alternatively, users can also harness the FAQs section available on TimeX’s forum that comprises common inquiries that have been resolved in it.

TimeX Exchange Review: Conclusion

Thus, the TimeX platform appears to be one of the highly secured cryptocurrency exchanges that allow traders, both novices and professionals, to execute crypto trade on the platform seamlessly. There are many unique features offered by TimeX that distinguish it from other similar cryptocurrency exchanges.

FAQs

Is It Safe to Use the TimeX Exchange?

Yes, TimeX is a safe platform to trade cryptocurrencies.

What Is TimeX Trading All About?

TimeX is an Australian hybrid cryptocurrency exchange launched in July 2019 that supports trading in some of the largest cryptos like Bitcoin, Litecoin, Ethereum, Dai, Tether, Ripple, etc., besides offering trade-in few more leading altcoins.

Is TimeX Trading Legit?

According to the various TimeX exchange reviews, the platform appears legit, with no negative reviews coming from its users.

How Do I Withdraw Money From TimeX Trading?

To make a withdrawal request in TimeX trading, users need their financial key and if they are already part of the TimeX trading platform, creating a financial key is elementary. Users just need to follow the onscreen instructions as they appear to complete the withdrawal processing.

Why Choose TimeX Exchange?

The TimeX exchange allows its users to trade numerous crypto assets on the platform and also allows them to withdraw money directly into their wallet or bank account. Besides, the unique features like higher liquidity, API support, fiat currency deposits, AUDT transactions, etc., attract customers worldwide.