ChaoEx: Hong Kong-Based Digital Cryptocurrency Trading Exchange?
What Is ChaoEx?
Chaoex is a cryptocurrency exchange based in Hong Kong and focuses on Southeast Asian markets. It is unregulated and offers trading services through its web-trading platform. It boasts of it low-cost trading with a wide variety of cryptocurrencies. It is, however, not certain if there will be a minimum investment required for users of the platform.
How ChaoEx Hong Kong-Based Crypto Trading Exchange Works
ChaoEx operates on a coin-to-coin model and offers spot trading with a single trading account type that contains three Your Customer (KYC) levels.
- KYC 1 – Only deposit and trade allowed
- KYC 2 – withdrawals up to 5 BTC per day
- KYC 3 – withdrawals up to 50 BTC per day
ChaoEx seeks to establish a credit trading system, which is compliant to the laws of digital money industry, and build a healthy financial order.
The platform is not only accessible via the website; users can also download the mobile application that is compatible with Android and iOS and access all the features of the exchange platform. ChaoEx complies with all the trading rules of the financial market, which results in a fair and equitable trading mechanism that protects the rights, and interests of the traders.
ChaoEx has various order types such as market, limit, and stop orders that allow traders to choose the necessary trading tools according to their specific needs. Payments using fiat currencies such as the Chinese Yuan and the US dollar are not accepted on the platform. The only accepted means of payment on ChaoEx is blockchain transfers.
Low Trading Fees
ChaoEx applies fees to transfers using some cryptocurrency with the fees being lower compared to other exchanges. ChaoEx has an attractive commission structure that is beneficial to both market makers and takers. Investors will also receive discounts for trading on BTC or ETH Markets after completing the KYC 2 and KYC 3.
Variety Of Altcoins
Currently, there are 54 digital currencies, which are tradable on the ChaoEx platform such as Bitcoin, Ethereum, Bitcoin Cash, Decent, TenX, Civic, and QTUM.
ChaoEx has a mobile order book that allows users easily exchange cryptocurrency with minimum slippage.
Advanced Trading Interface
ChaoEx is a web-based platform whose appearance is well organized, easy to use and understand. The digital assets are categorized into three sections: BTC, ETH and CODE Markets. Users can customize the appearance of the platform according to their preference and use advanced charting tools like technical analysis indicators.
The platform utilizes blockchain technology to store user data, which ensure that there is transparency during transactions.
Transactions on the exchange platform are secured by strict certifications and protection mechanisms such as anti-CC, anti-DDOS that ensure the safety of transactions.
There is scarce information about the company that owns and operates the exchange platform, which might be a hindrance to traders who would want to know more about where they are sending their coins. The main competitive advantages of ChaoEx include the fact that it has a large amount of tradable digital assets and lower fees making it exchanges worth considering in the crypto world.