Southxchange.com Cryptocurrency Review : Very Low Trading And Withdraw Fees

About Southxchange.com

Southxchange.com is a currency management platform operated by PRO-Systems. It is designed and built with security, simplicity and usability in mind. They believe that cryptocurrencies have the potential to change the world, and mission is to provide the necessary tools to make it happen. This exchange platform is first step towards that mission.

Southxchange-Systems is an Argentina-based company composed of highly trained software engineers. It has over 10 years of experience working on complex and high profile enterprise applications. Since 2012 it has been actively involved in cryptocurrency related projects.

How To  Start With Southxchange.com

To start trading with Southxchange.com ,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 Southxchange.com 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 Southxchange.com account.

SouthXchange Trading fees

Trading fees are naturally very important. 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. This Argentinian trading venue divides between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who create the orders that the takers take. This exchange’s taker fee is 0.30%, and the maker fees are 0.10%. This is in line with global industry average and compared to its South American peers, the fee is on the low-end (thus constituting a competitive advantage).

SouthXchange Withdrawal fees

This exchange charges a withdrawal fee amounting to 0.04% when you withdraw BTC, but only BTC. If you withdraw any other cryptocurrency, the exchange charges a fixed fee instead (which is more market standard). In addition to this exchange, only the following have percentage based withdrawal fees (from lowest to highest): FatBTC (0.05%), Digax (0.10%), ExcambioRex (0.10%), BitINKA (0.15%), RippleFox (0.20%), OOOBTC (0.50%), BCEX (0.50%), DOBITrade (0.50%), iCE³X (0.50%), LEOxChange (1.00%) and Trustdex (1.00%).

Percentage based withdrawal fees can be both good and bad. When you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.000004 BTC (very low, relative to market standards). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.004 BTC (very high, relative to market standards). Please consider whether this withdrawal fee suits your own trading or not. You should also note here that by year-end 2017, SouthXchange’s percentage based BTC-withdrawal fee was 0.19% (i.e. almost five times higher than it is today).

Deposits and withdrawals

Deposit Methods

This trading venue offers both wire transfers and credit cards as a deposit methods. Credit card deposits are possible via Indacoin. Seeing as fiat currency deposits are possible at this trading platform, SouthXchange qualifies as an “entry-level exchange”, making it possible for new cryptocurrency investors to take their first steps into the cryptocurrency world here.

Why choose SouthXchang

Secure

Southxchange.com multitier architecture protects your deposits. They also have 2-factor authentication and email confirmation to protect your account even further.

Low Fees

Very low trading and withdraw fees. All trades have a small fee of 0.1% for makers and 0.3% for takers. Makers are those that place orders in the book, and takers are those who execute against orders in the book.

Real Time

Data is obtained from servers in real-time. That means you get the latest data as soon as possible. The platform was designed from scratch to be usable in mobile devices.