Panxora.io is one of the many cryptocurrency exchanges from Hong Kong. Other exchanges with head quarters in Hong Kong include Binance, BitZ and KuCoin. Panxora is a crypto exchange that’s been in the business since 2014, initially as First Global Credit. The exchange positions itself as being a little different in everything they do.
Panxora provides a discounted fee structure for market makers that add over $750,000 liquidity to the exchange over a 30 day period. In any 30 day period that an account adds more than $750,000 liquidity into cryptocurrency trading, there will be a commission rebate equal to their cryptocurrency related trading commission during that period.
How To Start With Panxora.io
To start trading with Panxora.io ,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 Panxora.io 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 Panxora.io account.
Panxora Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
Panxora’s trading fees for takers are 0.20%. This fee is slightly below the industry average, which is arguably around 0.25%. Additionally, makers pay an even lower trading fee. Makers receive a 50% discount against the taker fees and thus only pay 0.10% per trade. This is a nice way of trying to promote liquidity at the trading platform.
Panxora Withdrawal fees
There are always network fees involved when sending cryptocurrency. Both in a simple transfer (even if you transfer to yourself), and in a withdrawal from the exchange.
The global industry average withdrawal fees are slightly above 0.0008 BTC per BTC-withdrawal.
Panxora does not charge any withdrawal fees at all. This means that they even cover the network fees for you. This is indeed a highly welcome and consumer-friendly approach.
Panxora does not yet accept wire transfer deposits or credit card deposits of fiat currency. This will according to information to Cryptowisser be made available during Q1 2019. Until then, if you need to deposit via wire transfer or credit card, you have to find an exchange where such deposit methods are permitted.
Use XAI tokens to pay commissions on Panxora exchange and receive a 50% discount
Beginning Monday, February 18, Panxora will allow you to use XAI tokens to pay the commission on all trading on the Panxora exchange. And for a limited time, any commission paid in XAI will receive a discount at 50% of standard commissions.
To take advantage of this offer please email [email protected]. Include your username and how many XAI you would like to have transferred to your commission wallet. That amount will then appear on your trading balance window as XAI.Comm.
Investment in digital currency, equities, ETFs, and currency trading is potentially risky you should proceed with caution before trading on the site. By using the Panxora’s website and/or platforms or APIs, you represent that you understand the risk associated with trading both digital currencies and global markets. Panxora trades global securities, including US stocks. The company does not have a presence in the United States and are not a US Regulated Broker Dealer. We do not accept traders residing in the United States.
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