Emirex.com Cryptocurrency Exchange Review: It Is Safe Or Legit Exchange?

About Emirex.com

Emirex.com is an innovative platform that includes an exchange and a marketplace where users can exchange any store of value for digital assets. It highly values the power of Digital Assets and strives to make this world a place with more economic freedom through public, open, fair, censorship-resistant networks that better serve humanity.

In early 2017, the platform founders — Grigory Rybalchenko and Irina Heaver — set out to improve access to Digital Assets in the Middle East by starting to work on BitMeEx – Bitcoin Middle East Exchange. The platform became easy to use and offered access to many Digital Assets in exchange for international and local fiat currencies. In 2019, the company introduced the next stage in the technology roll-out of a professional trading platform. It has been rebranded to Emirex.com, to further reflect its roots and expansion plans.

Emirex.com platform’s terms of use apply to the services offered on Emirex.com by BME Technologies OÜ, a legal person incorporated under the laws of Estonia with a registry code 14710805, and a registered address at Harju maakond, Tallinn, Lasnamäe linnaosa, P. Pinna tn 8, 13615, its subsidiaries and affiliated parties and the users of the technology.

At Emirex, we are in full compliance with upcoming developments, intending to grow our platform even more, and have built an ambitious roadmap ahead of us. We are to improve our platform to deliver a full range of services that address all the major requirements of investors and issuers of Digital Assets in the Middle East, as well as servicing the needs of investors and issuers from Africa, Asia, and Europe that are looking to get exposure to the Middle Eastern wealth. We believe that blockchain-based decentralization and transparency can foster the free movement of value around the world, supporting social welfare.

EMRX is the Emirex platform’s native utility token. The number of EMRX tokens is limited to 500,000,000. It is issued as an ERC-20 token, compliant with the Ethereum blockchain. EMRX functionality is structured around the utility it provides. It powers the infrastructure for the new digital economy brought to users by the Emirex company. EMRX creates a growth spiral through the built-in mechanism in which the ecosystem participants can earn EMRX for their participation. Proactive engagement with the wider community of traders, investors, issuers, and partners, who are the direct beneficiaries of the growth of EMRX, drives growth and generates the network effect.

As the native token of the Emirex Ecosystem, EMRX has many use cases such as listing fees for placement of tokenized assets, transactional fees from buy/sell transactions, custody and servicing fees, and commission and partner incentive schemes.

Operating Company 

How To  Start With Emirex Exchange

To Start Trading With Emirex Exchange Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Emirex Exchange Website.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Emirex Exchange .

Emirex Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

Emirex charges what we call flat fees, meaning that both the takers and the makers pay the same fee when it comes to spot trading: 0.10%. These spot trading taker fees are a bit below the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. 

Emirex Withdrawal fees

Emirex charges a withdrawal fee of 0.001 BTC per BTC-withdrawal. This fee is substantially above the global industry average. The current global industry average is 0.000643 BTC per BTC-withdrawal according to this report, so Emirex’s BTC-withdrawal fee is more than 50% above that.

On the date of first writing this review (12 February 2021), 0.001 BTC corresponded to USD 47.50, which is a very high fee in this context. They hope – for the exchange’s own sake – that they reduce these withdrawal fees within the near future.

Deposit Methods

Emirex lets you deposit assets to the exchange in many different ways, through wire transfer, debit card, and also by just depositing existing cryptocurrency assets.

Seeing as fiat currency deposits are possible at this trading platform, Emirex qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.

Emirex: Opportunity without barriers

Access to wealth

Using technology, they are bringing together a community of issuers and traders from around Africa, Asia, and Europe and providing them with access to the Middle Eastern wealth.

Safe & compliant

Advanced security measures compliant with international standards of IT security in the banking industry, per ISO 27001. Licensed and regulated in accordance with EU Regulations.

Easy to use

User-friendly interfaces make access to digital assets easy for novice users, while advanced trading tools provide all the required functionality for professional traders.

Fiat gateway

The fiat gate facilitates deposits and withdrawals to the users’ bank accounts as well as the purchase through credit/debit cards and other payment methods.