What is WEX? Things to know about Bitcoin exchange and Altcoin WEX

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After the oldest and largest Bitcoin exchange in the world is BTC-e sealed by the US government on suspicion of money laundering, many investors on that floor worry a lot about the money they have invested on that floor.

To reassure their customers, shortly thereafter, the leaders of BTC-e launched a new trading platform with the same website interface as the previous one and the data of the customer is kept the same. at the new floor. That new exchange is called WEX, so What is WEX? Do they have any other characteristics than the old floor? Here is the knowledge to know about BTC-e's new Bitcoin and Altcoin exchange that the Virtual Money Blog wants to introduce to you. Stay tuned!

WEX what?

WEX is a Bitcoin and virtual currency exchange launched in September 9, whose website address is using a domain name in New Zealand but is registered with a business license in Singapore, as well as by the Singapore monetary authority ( MAS) approved and licensed under the Singapore Securities and Futures Act (SFA) before going into operation. This more or less makes WEX become more reputable and reliable. When in operation, Wex issued Wex coins, a bonus coin, which can be used to trade on their platform.

wex-la-gi-1

At launch, WEX publicly stated that it did not receive any investment from BTC-e. But according to a news article at Coindesk (one of the 5 largest bitcoin news websites in the world) in September, it proved that WEX was actually part of BTC-e, when it was created to meet the BTC-e old customers' needs for Bitcoin and virtual currency activities. Therefore, at WEX, there is no need to promote too much and apply too high security measures but also a certain number of users.

Features of the trading platform WEX

  • Coins are allowed to be traded on the exchange: Wex is considered a Bitcoin and virtual currency transaction in Singapore. It offers exchange and trading services for the most popular virtual currencies including: Bitcoin, Litecoin, Namecoin, Ether, Dash, Novacoin, Bitcoin Cash, Peercoin and Zcash. In addition, the exchange also supports trading virtual currencies with legal currencies such as EUR, RUR, USD forming many pairs so customers can trade on their own discretion.
  • About security factors: Because the floor was created primarily to serve BTC-e customers, it doesn't mention security at all, perhaps because they think these customers understand the security factors at WEX will be like at the old BTC-e like 2-layer authentication (2FA), the website is protected by SSL.
  • About the market: WEX supports the markets of BTC, ETH, LTC, USD, EURO, RUR.
  • Support multiple platforms: At WEX, users can only trade on the web platform.
  • Languages ​​supported: WEX supports three main languages: English, Russian and Chinese
  • About customer support: WEX uses a customer support solution by creating a separate website that contains frequently asked questions for customers to read before sending emails, or sending messages on Twitter to them.

Fee on the floor WEX How

  • Transaction fee at the floor is calculated as 0.2% for all transactions.
  • Deposit fee: With virtual currencies investing on the exchange will not be charged, while with legal currencies, the fee will range from 1% to 20%.
  • Withdrawal fee: When withdrawing virtual currency at the floor will be charged from 0.001 to 0.1 depending on the value of that virtual currency. And when legal withdrawal, the fee will be from 0% to 4%.

phi-wex

Virtual and USD fees on Wex

Payment method on WEX

WEX offers quite a lot of online payment methods for legal currencies, but mostly available in Russia such as ADVCash, Perfect Money ... In addition, it also allows payment by bank transfer but with fees. high. It does not allow credit card payments, which is quite inconvenient for many people

Floor WEX Is there a scam?

Perhaps it's because it is part of the old BTC-e exchange, so far WEX have not encountered any scam cases and have never been a successful attack by hackers.

Conclusion

As a successor to BTC-e, so it was only released a few months ago but WEX has been trusted and used by a lot of people. Along with the legal attention from the beginning, it promises that WEX floor will be durable. In the following article, I will guide you how to register for an account, security and trading on the WEX platform, so you should pay attention to the virtual money blog.

If you have any questions about the Wex floor, please contact the comment section, I will answer you as soon as possible. Lastly, don't forget to Like, Share and give me a 5-star review below to support Virtual money blog ok

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