Cryptocurrency Tools: Tidex

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Tidex is a cryptocurrency exchange that was founded in London. The platform was created in 2017, and the Tidex brand is owned and operated by a company known as the Elite Way Development LLP, a Fintech company.

Tidex offers users the chance to purchase crpyto tokens, as well as to buy and sell listed crypto assets on an exchange basis.

Tidex is unregulated and doesn’t have any KYC protocols, unlike many other exchanges.

Tidex is entirely browser-based. All transactions are made from the website. In order to use the platform, traders can simply navigate to the URL of the Markets page, where all traded assets are listed, usually in pairs.

The trading engine at Tidex is basically browser-based. Everything is done from the website.

The web interface features the following:

  • An interactive chart for the analysis of every asset.
  • A comment box which is where traders can comment about anything cryptos, including open trades, why trade decisions were taken as well as relevant news in the market.
  • The Buy or Sell box is also presented. This is where traders can enter their Market or Limit orders.
  • There is also an announcement box, as well as a box where the trader a view the Order Book showing buy and sell positions that are active in the market.

Due to the platform being entirely browser-based, Tidex doesn’t have a mobile app. However, the platform is engineered to be mobile-friendly and is well optimized for smartphones and tablets. The mobile site is lighter than the desktop version, but still retains a lot of the functionality of the browser-based platform.

Tidex has two different kind of fees:

Market maker fees: The fees for the market maker are pegged at 0.1%. The market maker fee is charged for providing pricing and also to settle charges on tokens transferred from the seller to the buyer.

Transaction fees: These are fees that traders incur anytime they buy or sell tokens on Tidex. The fees are fixed at a rate of 0.1%.

Though there is security concerns around Tidex, the platform is becoming more and more popular, and may eventually be one of the biggest changes based out of the UK.

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