Exchange iExchange (IEX) – a complete overview of the official website, registration, verification, trading, deposit and withdrawal of funds
iExchange (IEX) is a cryptocurrency exchange legalized in the legal framework of Belarus. The trading platform was audited by Ernst & Young and on July 5, 2019 became a HTP (High Technology Park) resident. The crypto exchange is international, registration is open to everyone. On July 15, the public stage of the IEX token sale was launched. Their owners will be eligible for a discounted payment of platform fees.
Official site: iex.net
Read also: list of popular cryptocurrency exchanges.
In 2021, iExchange is reorganizing and changing jurisdiction. Services are temporarily unavailable. For all questions, please contact email@example.com.
IEX is a regulated cryptocurrency exchange with an increased level of security. The partner, the international crypto exchange OKEx, acts as a liquidity provider. The conclusion of this partnership allowed already at the start to solve the important liquidity problem faced by many new sites. From day one, IEX has been satisfying customers’ requests, regardless of their volumes.
Like all residents of the Hi-Tech Park, the company is exempt from paying 20% VAT until 2023, as well as 18% income tax in relation to profits from the sale and sale of tokens, their creation and mining. The exchange complies with the HTP requirements – it has the official status of a resident, submitted a full-fledged business project and passed an audit confirming the qualifications of the team. Citizens of the Republic of Belarus who trade on the iExchange are exempt from taxes.
|Stock exchange||iExchange (IEX)|
|Beginning of work||july 2019|
|Director||Abdullin Maxim Sayfullovich|
|Registration number||UNP 193015013|
|Legal name||LLC “Cryptotrade”|
|Address||st. 2nd Sixth line, 11, room 14c. Minsk, 220013, Republic of Belarus|
|Registration in the HTP||05.07.2019|
|Audit||Ernst & Young|
|Charter capital||$958 800|
|Working with fiat money||yes (Visa / Mastercard, Wire Transfer)|
|Safety||SMS, Google Authenticator, anti-phishing code, financial password, email|
|Trading commission||maker: from 0.01% to 0.1%; taker: from 0.05% to 0.15%|
|Number of cryptocurrencies||11|
|Cryptocurrencies||BTC, LTC, ETH, BCH, ADA, BTG, NEO, QTUM, XLM, XRP, USDT|
|Number of cryptocurrency pairs||29|
|Internal token||IEX Coin|
|Types of orders||limit, market, trigger, TWAP, sliding, iceberg|
|Contracts / Futures||No|
|Other cryptocurrency exchanges||Binance, Currency, Bitmex, EXMO, BitForex, Kucoin, LocalBitcoins and others|
- 1 Features of the crypto exchange
- 2 History of development. Road map
- 3 IEX official website
- 4 Registration
- 5 Personal Area
- 6 Verification
- 7 How to replenish, withdraw funds
- 8 Exchange trading: buying, selling cryptocurrency
- 9 Commissions and limits
- 10 IEX Token (IEXCoin)
- 11 Advantages and disadvantages
- 12 Conclusion
Features of the crypto exchange
The main characteristics of the iExchange site at the moment:
✅ 29 trading pairs (the list will grow). Trading in BTC, USDT, ETH, XRP, LTC, BCH is available.
✅ Provided liquidity from the OKEx exchange, which trades in excess of $ 30 billion per month.
✅ It is planned to connect deposits and withdrawals in fiat currencies using VISA, Mastercard or bank transfer.
✅ Work completely in the “white” zone. Passage of audits, availability of authorized capital.
✅ Qualified technical support for users.
The main customer groups targeted by the crypto exchange are legal miners, traders in need of legal protection from the state, HTP resident companies, investment funds that need transparency and accurate reporting.
History of development. Road map
The development of the project began in 2018. It was originally planned that the basic functionality should provide users with high liquidity and full legality of operations. All subsequent actions are aimed at developing these properties and adding new ones.
According to the roadmap, an ICO will be held in the near future, the funds collected from which will be used to develop a new version of the iExchange 2.0 platform. In December 2019, users are expected to launch a storage for cryptocurrency and a custodian service. January 2020 – start of trust management of funds and organization of ICO. In February 2020, according to the plans of the developers, the platform will be used by 500 thousand people.
IEX official website
The main page of the iex.net website offers information about new tokens, the cost of recent transactions, a 24-hour rating of trading pairs. Below are news and blog posts. Below is a detailed roadmap showing the current stage.
Below – information about connected payment systems, standard legal and informational sections, links to social networks and instant messengers.
From the top menu, you can go to the main sections of the exchange:
- Quotes for the most popular currency pairs.
- Trading. Rate charts, the ability to create orders to buy or sell tokens. Available order types: limit, market, trigger, sliding, iceberg, extended limit, TWAP.
- Full screen mode. Trading in an alternative interface specially designed so that nothing distracts from trading.
- Support. On this page, you can write an appeal to the technical support service, if necessary, attach a file.
To create an account on the iExchange crypto exchange, click the Register button in the upper right corner.
There are two options for registering: via email or phone.
- Enter a valid e-mail.
- Click “Get Code” and enter the confirmation code you received by email.
- Create a password and accept the terms of the user agreement.
Second option. We register by phone number:
Select a country (Russian Federation) and enter your number without the eight. Click Get Code and solve the captcha by moving the slider to the desired position. This time the code was received successfully, we enter it in the field (the validity period of the code is 30 minutes).
Come up with a password, confirm it and tick the box after reading the user agreement. Click the Register button.
To go to your personal account on the IEX exchange, hover over your account name (phone number or e-mail address) and click Profile.
The first page contains general information about the account, you can link an email or phone (if the registration was via mail).
On the Verification page, you can identify yourself. See the guide below.
The Security page allows you to activate different ways to protect your account – set two-factor authentication, payment password, anti-phishing code, activate email verification.
The Subaccount section is designed to create dependent academic records under the main account in order to use them for various purposes. All sub-accounts are considered to belong to the same owner, there is no need to verify each of them.
- If you live in the Republic of Belarus, then check the corresponding box. If not, just go to the next step.
- Fill in all the required fields: document type, country of issue, number and series, who issued the document, date of receipt, expiration date, TIN. You will also need to upload a scan of your passport and provide your photo along with the document.
- The next step is filling in your personal information. Gender, name, surname, patronymic, date of birth, country and city of birth.
- This is followed by the provision of information about the place of residence. You need to indicate the country, region, city, street, house and apartment in which you are registered, as well as the postal code. On the right side, the address of actual residence is filled in (if they match, it is enough to tick the appropriate box).
- The last point is the User Agreement. You will need to download and print the document, read it and put your signature confirming your agreement with the rules. Then scan or take a high-quality photograph of the sheet and upload the resulting image.
To complete the verification, you will need to bind the phone (if it is not tied) and enter the code received on it. Then send your application for consideration. The exact time of the announcement of the result depends on the load of operators.
For verified users, system limits are removed or increased (for deposits and withdrawals, for cryptocurrency trading, for token trading).
Citizens of the Republic of Belarus need to pass a test questionnaire and answer simple questions. From 1 to 6, the questions relate to the financial situation and the level of qualifications:
From 6 to 14 – checking knowledge of the features of blockchain technology and cryptocurrency topics:
How to replenish, withdraw funds
The balance management functions on the IEX cryptocurrency exchange are located in the Account menu in the upper right corner, next to the account name.
To fund your iExchange account, select the Deposit option (available only for verified accounts). On the deposit page that opens, you can select the desired token type from the drop-down list. The address to which you want to transfer funds will appear. It is very important to send the chosen cryptocurrency to this address. When sending any other funds, they will simply disappear without the possibility of a refund.
To withdraw funds, three conditions must be met – first level verification, setting a password for accessing funds and confirming e-mail. Then select the type of cryptocurrency you want and specify your wallet, carefully checking its correctness. The principle also applies here – a specific address for a specific token.
Exchange trading: buying, selling cryptocurrency
IExchange crypto exchange supports several types of orders: market, limit, trigger, sliding, iceberg, TWAP, extended limit.
The main ones are:
✅ Market. Executed instantly at the current price of the asset. By placing such an order, the user only needs to indicate the amount of money that he is ready to give.
✅ Limit. In this order, the client indicates his price, and the operation is automatically performed when the exchange rate reaches this amount.
It is possible to work with orders on more complex conditions related to its execution. For example, algorithmic orders are a set of trading tools that allow you to place orders with a predetermined volume and value. The operation will be performed only when all the indicated conditions are met. At the same time, the system does not freeze the funds on the client’s account.
Also, you can choose the full-screen display mode of the trading terminal:
Commissions and limits
IExchange trading fees vary based on 30 days trading volume. For the maker, they range from 0.1% (if the trade turnover is less than 500 BTC per month) to 0.01% (if the turnover is over 300,000 BTC). For a taker, under appropriate conditions, from 0.15% to 0.05%.
Deposit fees are 3% for fiat and zero for cryptocurrency deposits. For withdrawal – 3% for fiat (but not less than 2 dollars / euro), and a fixed amount for each of the cryptocurrencies. For example, for Bitcoin it is 0.0005 BTC.
Now about the limits. A user without verification has no right to deposit and withdraw money, as well as trade on the IEX exchange. A verified account has a limit of $ 20,000 per transaction (when making a deposit) and the equivalent of $ 20,000 when withdrawing. There are no trading limits.
IEX Token (IEXCoin)
The iExchange cryptocurrency exchange token has the IEX ticker and is called IEXCoin. The total supply is equal to 1.5 billion. During the ICO, tokens can be purchased for:
The token operates on the EOS blockchain. In doing so, it is designed as an essential element of the iExchange ecosystem. Users with available tokens can significantly save on:
✅ withdrawal fees;
✅ trading commissions;
✅ commissions for exchange procedures.
In the first year, savings on these items can reach 70%, then they will gradually decline. For the fifth year, it will be 30%, and after that the discount will cease to be provided.
Other savings items:
✅ conducting an IEO based on the IEX crypto exchange;
✅ listing of new cryptocurrencies;
✅ payment for the services of the exchange as an organizer of token sales.
In these cases, the discount is also gradually reduced over five years (from 50% to 10%).
Stages of selling the IEX Coin token within the ICO:
Advantages and disadvantages
✅ Already at the start, many types of currencies are available, over time there will be more of them.
✅ Very low commission fees.
✅ Fast withdrawal and replenishment of funds.
✅ Official regulation. The example of Japan shows how positively this affects not only the crypto world, but also the economy as a whole.
✅ Technical support responds instantly (within 10-15 minutes).
✅ Work with fiat money will be available, including support for bank cards.
✅ Full Russification of the site, a team of Russian-speaking people.
✅ The IEX was audited by a Big Four company. Such checks will be carried out regularly.
❌ Full transparency for government agencies. This is both a plus and a minus, since many people see cryptocurrency precisely as an anonymous means of payment and are not ready to provide passport data and a report on all their operations.
❌ Trading and financial transactions are impossible without verification.
We are very pleased with the activity of developers in Telegram. Every day useful information appears there both about working with the iExchange (IEX) exchange and about various bonus programs. For example, the team is now launching an eidrop for verified users.
The founder of the project, Igor Snizhko, has been engaged in technical development for a long time and has a legal education. Under his supervision, no less qualified employees work, which greatly increases the degree of confidence in the project. And official regulation and auditing are an additional guarantor of the seriousness of the creators’ intentions. Therefore, by all indications, a bright future awaits the platform.