DSX Review 2020
Founded in December 2014 by its current CEO Robert Courtneidge, Digital Securities Exchange or DSX is regarded as UK’s first regulated cryptocurrency exchange. The exchange is partnered with and managed by an FCA regulated online payment services provider called ePayments. By conforming to the UK regulations, DSX represents a new breed of cryptocurrency exchange, that help to bridge the gap between the unregulated world of cryptocurrency trading with the traditional regulated financial industry.
- Deposit and Withdrawal Options
- Fees and Charges
- Privacy and Security
- Customer Support
- Pros and Cons
By signing up with DSX to trade cryptocurrencies, DSX’s clients can expect the same kind of fund security and safety that they get when dealing with FCA regulated financial services entities. For example, the funds held by ePayments are insured with Lockton Companies Inc, the world’s largest privately owned insurance brokerage firm.
In terms of trading platform, DSX uses the latest technology and software architecture to design and provide its clients with a state of the art platform that is both efficient and user-friendly. The platform comes integrated with real-time price feeds, charts and advanced technical indicators that give in-depth information about the market conditions. The platform also supports several types of order types such as Fill or Kill orders, market orders, stop orders, limit orders, and trailing stops. At present, you can trade with following types of cryptocurrency pairs:
- BTC / EUR
- BTC / RUB
- BTC / USD
- EUR / USD
- LTC / BTC
- LTC / EUR
- LTC / USD
Another feature which makes DSX stand out from other cryptocurrency exchanges in the industry is the fact that they also provide their potential clients with a demo account with which they can use to test out the platform before committing to opening an account with the exchange.
Deposit and Withdrawal Options
With DSX, deposits and withdrawals are not quite as straightforward as with the case of most cryptocurrency exchanges. This is due to the fact that the funds have to course through the ePayments Systems. In other words, DSX’s clients also have to open an account on the ePayments Systems before they are able to fund their accounts on the DSX’s platform.
By actually transacting with an authorized and regulated payment processor such as ePayments Systems, DSX’s clients are able to use a wider array of payment methods. The choice of fiat currencies which can be used to deposit funds also widen to include the USD, Euro, British Pound and Russian Ruble. For deposits, ePayments Systems support the following methods:
For withdrawals, the following methods are available:
From the above-mentioned methods of funding your DSX account through the ePayments Systems, you also have the option to fund it using a prepaid MasterCard offered by ePayments Systems. Furthermore, you can use it like any ordinary debit card, you can use it for off the counter purchases or make a withdrawal from any ATM machine that accepts MasterCard.
Fees and Charges
In terms of the trading fees at DSX, the exchange uses the Maker/Taker pricing model which is designed to encourage liquidity into the exchange. In addition, DSX’s fees are based on a tiered structure, the higher the volume traded, the lower are the fees.
|30 days Volume||Maker Fees||Taker Fees|
Take note that the minimum fees for each transaction are:
- For USD, EUR, GBP or RUB and
- For BTC, LTC, ETH, BCC or BTG
There is no fee when making a deposit at DSX regardless of whether it is via a fiat currency or cryptocurrency except for bank fees. For withdrawals, however, the following fees are applicable:
- BTC (min. 0.0002BTC),
- EUR (0.8%, min €75 – max €125),
- LTC (min. 0.002LTC),
- RUB (0.8%, min 6000 RUB – max 9500 RUB),
- USD (0.8%, min. $85 – max. $135),
Privacy and Security
As an agent of a regulated payment processor, all the accounts are required to be verified in compliance with anti-money laundering regulations. By being verified, you will be able to access the various methods of deposits and withdrawals available to ePayments Systems account holder as well. In addition, you will be able to get a prepaid MasterCard with you can use for withdrawals as well as off counter purchases. The daily limit with the prepaid card is $3000 for cash withdrawal and $20,000 for off counter purchases.
In terms of security, DSX offers the added security of a regulated financial payment processing entity on top of having their funds insured. Other security measures include cold storage and smart backup. On the client’s side, security is boosted with 2-factor authentication and manual withdrawal process.
The customer support service at DSX is considerably much better than what most cryptocurrency exchanges have been able to offer. You can contact the support team through email, live chat or call them directly on the telephone from Monday to Friday (8:00 am – 5:00 pm GMT).
Pros and Cons
- Competitive fees
- Excellent customer support
- Reputable Exchange
- Support fiat currencies
- Wide selection of deposits and withdrawal methods
- Limited choices of cryptocurrencies
Why do I have to verify my account?
DSX is a registered agent of an FCA regulated payment provider and as such is bound by the requirements under the Electronic Money Regulations 2011 (FRN 900172). These requirements are necessary for the deterrent and detection of financial crimes.
How Long Does The Verification Process Take?
It can take up to 48 hours for an account to be verified
What methods are available to me to fund my account at DSX?
For fiat currencies, you can fund your account through SEPA and ePayments Wallets. For Digital currencies, you can fund your account with BTC, BCC, BTG, LTC, ETH from an external wallet to your DSX wallet
What Is The Minimum Amount That I Can Deposit?
The minimum that you can deposit is as follows:
- Minimum 0.00000001 BCC
- Minimum 0.00000001 BTC
- Minimum 0.00000001 BTG
- Minimum 0.00000001 LTC
- Minimum 0.01 ETH
- Minimum 1.00 EUR
- Minimum 1.00 RUB
- Minimum 1.00 USD
With DSX partnering with ePayments Systems, the exchange has managed to offer its clients the assurance that their funds will be safe with the exchange. Until DSX came along, cryptocurrency traders only option was to deal with and trust the whims of unregulated exchanges. With the fact that every exchange has its own terms and rules, cryptocurrency trading has only brought confusion and frustration rather than excitement.
- 5Very good exchange for fiat currencies, especially I am glad to see RUB and TRY hereIvan
- United Kingdom
|Headquarters Country||United Kingdom|