SnapEx Review 2021
SnapEx is an online derivatives exchange supporting the trading of cryptocurrencies. The SnapEx platform is designed for the everyday trader in mind. With easy to navigate interfaces, the platform is suitable for both beginner and experienced traders.
Founded in 2018 by Snap Technology Limited, a Singapore registered company, SnapEx provides traders with exposure to the crypto market’s most popular and most tradeable cryptos. These include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), and Ripple’s XRP (“XRP”).
While traders have exposure to the crypto market, they do not purchase actual cryptos but trade price movements by way of derivatives contracts.
- Brokerage Services & Payment Methods
- The Pros and Cons
- The Details
- Trading Platform
- Deposit & Withdrawal Options
- Fees and Charges
- Privacy and Security
- Supported Cryptocurrencies and Snap Points
- SnapEx Wallets
- Customer Support
- The Affiliate Program
- Additional Information
Brokerage Services, Supported Cryptocurrencies & Payment Methods
SnapEx provides a trading platform to support the trading of cryptocurrencies.
Cryptos covered for trading include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), and Ripple’s XRP (“XRP”).
The platform allows investors to trade and invest in either derivative contracts for cryptos supported by SnapEx or OTC.
Users who already own cryptocurrencies supported by SnapEx may transfer these to the compatible wallets provided on the SnapEx platform.
Additionally, users can purchase Bitcoin with Visa or Mastercard.
The Pros and Cons
- A very user-friendly platform targeting both novice and experienced traders.
- Sizeable leverage of between 10x to 100x, with the option to trade long or short.
- Traders can earn SNAP points by completing certain tasks. These can then be converted into USDT or used to offset transaction fees.
- Transaction fees are just 0.1% and there is an option to offset fees with SNAP points.
- Demo account available to familiarize traders with the platform.
- SnapEx allows the maximum withdrawal amount at USDT 100,000.
- An OTC platform supports the purchase of cryptos for selected countries. Users are also able to purchase Bitcoin by credit card.
- SnapEx supports the trading of mainstream cryptos and OTC.
- Strong emphasis on security (See “Security Section” for details).
Other positives include
- Charts: SnapEx uses TradingView to deliver the platform charts. This gives users access to a large array of economic indicators to carry out technical analysis.
- Mobile Compatible: Android and IOS
- Risk Management: Stop-loss and take profit capabilities.
- KYC compliance will be positive for some, while considered negative for traders seeking anonymity.
- Users are only permitted to withdraw Bitcoin, Ethereum, and USDT.
SnapEx supports the investing and trading of cryptos. Traders and buy and sell supported cryptos OTC or by way of derivatives contracts.
Traders can enter into derivatives contracts that allow traders to go long or short.
Cryptos supported for trading include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), and Ripple’s XRP (“XRP”).
The platform also offers traders and investors with the option to trade on margin, with leverage of between 10x and 100x. Traders can begin trading with as little as 5 USDT.
Users are also able to purchase cryptos using a credit card, while also able to deposit supported cryptos into allocated SnapEx wallets.
Withdrawals and deposits are limited to Bitcoin (“BTC”), Ethereum (“ETH”), and Tether (“USDT”).
SnapEx provides a user-friendly derivatives contract trading platform that is built to help you profit in both bull and bear markets.
You can long or short on trades and leverage as conservatively or boldly as you’d like.
In order to change from “Real” to “Demo”, go to the bottom left of your “Trade” page and click “Real”. This automatically switches the platform into “Demo” mode, as shown below:
Go to the “Trade” page to trade cryptocurrencies.
As shown below, on the “Trade” page, the pairings are listed on the left-hand side. The platform also provides the latest price, 24-hour volume, and percentage change.
By selecting the crypto pairing that you wish to trade from the left-hand side, you will then have access to the relevant chart and the ability to buy or sell.
For demonstrative purposes, we have chosen Litecoin (“LTC”) and Tether (“USDT”) pairing.
In order to purchase Litecoin (“LTC”):
- Select the LTC/USDT pairing and then go to the New Order section on the right-hand side of the trade page.
- Complete the trade options before clicking “Buy”. These include:
- Leverage, which can be between 10x and 100x.
- Adjust your stop loss “SL” and take profit “TP” by using the plus and minus icons. These are initially auto-populated based on the leverage and margin entered.
- The platform provides you with a summary of the trade, including initial margin, fees, and total as shown below.
- Click “Buy” for long positions or “Sell” for short positions and then confirm the trade.
- Once you have clicked Buy, review the details and then click “OK”.
- The order summary can also be found in your “Positions” segment of the “Trade” page.
There are “Edit” icons, alongside your active trade components, as shown by the arrows above. These allow you to adjust stop loss or take profit settings, margin, and option to hold overnight.
In addition, there is a “Close” icon that allows you to close out your position.
(For both the stop loss and take profit, users can use an amount, a price, or a percentage, as shown below).
In order to close your position:
- Click the “Close” icon alongside the pairing that you wish to sell, in this case, LTC/USDT.
- Confirm the sell order, which will immediately be executed, with no further action required.
- The closed trade information can be viewed under the “Trade History” segment
SnapEx Platform Attributes
Key attributes of the SnapEx platform include:
- The platform is a user-friendly trading platform built to enable traders to benefit from bull and bear markets.
- Its ease of use is suitable for both beginners and experienced traders.
- SnapEx boasts among the lowest trading fees in the market at 0.1%.
- Users can open long or short positions, with leverage of between 10xand 100x.
- Deposits can be made in Bitcoin (“BTC”), Ethereum (“ETH”) or Tether (“USDT”).
- Users can transfer cryptocurrencies from an external wallet, use a credit card (“Simplex”), or purchase through the SnapEx OTC service available for selected countries.
- SnapEx has a reward system, whereby traders are able to earn SNAP points by completing simple tasks.
- By enabling SNAP, users receive free SNAP points for every trade. SNAP points can then be used to deduct transaction fees for trading orders or can be exchanged for USDT.
- Cryptos supported for trading include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), and Ripple’s XRP (“XRP”).
- SnapEx delivers users with fair prices. This is achieved by basing prices on a K-line weighted average of the 3 major exchanges – Binance, Huobi, and OKEX.
- Indicators – Full technical analysis suite of tools to manage risk and support basic and advanced technical analysis.
- Charts are direct links from TradingView – Advanced chart functionality giving users the ability to view multiple charts simultaneously.
- Compatible on multiple platforms: SnapEx delivers a seamless experience on smartphones, tablets, or desktop. The platform is available on Google Play, App Store, and is IOS and Android compatible.
- Global presence, covering 36 countries.
- 24/7 – Customer support – 24 hours per day support is available via the main support page, email, and Telegram.
The SnapEx platform provides traders with TradingView’s interactive charts to support trading and investment activity.
TradingView offers an extensive array of indicators and other tools to manage risk and carry out technical analysis.
Users need to click the TradingView icon (indicated below) to view the chart on the Trading View site. Here, users can then include indicators, etc. Once you have added the indicators, these are then also saved on the SnapEx chart.
In order to access the charts, go to the “Trade” page. You are then prompted to select the number of charts that you would like to have available on the “Trade” page.
Select the number by clicking the preferred format on the right-hand side of the chart number you wish to have.
For demonstrative purposes, we have chosen 1 chart. By choosing multiple charts, you are unable to view the crypto pairings on the left-hand-side or the order page on the right-hand-side.
Users are able to select the crypto pairing from the menu to the left-hand side of the chart.
Balances and Trading History
The platform provides users with a detailed breakdown of each transaction by open positions, pending orders, and a history of transactions made.
These are summarized on the “Trade” page and can be located below the chart section described above.
In addition, SnapEx provides you with your available margin, your freeze margin, real-time P&L, and your equity. These are provided in USDT. See above.
Key features of the SnapEx platform include:
Affiliate Program: There is a dedicated page to support the affiliate program, with up to 50% commission on all trading fees on offer. SnapEx also pays affiliates 10% of referral commissions.
Customizable Layouts: Traders can view multiple charts, with a vast array of indicators available to carry out technical analysis.
Leverage Options: Leverage of between 10x to 100x is on offer to traders looking to enhance returns.
Mobile Trading: SnapEx is also available on Android, Google Play, and the AppStore to support trading on tablets and mobiles.
OTC: As well as trading cryptocurrencies long or short by way of derivatives contracts, there is also an OTC platform.
Risk Management: SnapEx provides appropriate risk management capabilities. These include stop and take profit order options.
Help Centre: A dedicated help centre allows users to learn the ropes and navigate the platform.
Deposit & Withdrawal Options
SnapEx facilitates the deposit and withdrawal of funds in Bitcoin (“BTC”), Ethereum (“ETH”), and Tether (“USDT”).
For users who don’t own supported cryptos, a user can purchase cryptos with fiat money on the OTC platform to fund the account.
For users already owning Bitcoin (“BTC”), Ethereum (“ETH”), and/or Tether (“USDT”):
- Go to the “Deposit” page located under the “Assets” dropdown menu. See below.
- Select the crypto that you wish to deposit, copy the address, or scan the QR code and complete the deposit.
Do note the minimum deposits. Any deposits of less than the minimum deposit will not be processed.
We recommend that you scan the QR code, when possible, to make a transfer from your private wallet to your SnapEx wallet.
Fiat Currency Deposit
In order to purchase Bitcoin (“BTC”) with fiat money, go to the “Buy Crypto” page. SnapEx supports the purchase of Bitcoin with credit cards in EUR and U.S Dollars. All Bitcoins purchased are automatically converted into USDT and credited into your USDT wallet.
Here, users can purchase Bitcoin by Visa and Mastercard, via Beli Bitcoin and through Merchants. Do note that fees are higher for credit card purchases. Simplex charges a fee of 5% or a minimum of $10 for any purchases.
For withdrawals, users may withdraw Bitcoin, (“BTC”), Ethereum (“ETH”) or Tether (“USDT”) by transferring to privately held and compatible Tether wallets.
To make a crypto withdrawal, locate the wallet from which you wish to withdraw your cryptocurrencies.
Enter your wallet and address and the number of coins that you wish to transfer. By way of SMS, email, and/or Google Authenticator, you will also need a verification code before confirming the withdrawal.
Users may also sell through the OTC platform. Simply go to the “Buy Crypto” page and click the “Sell” icon as shown below.
To open an account, go to the SnapEx home page and click on “Sign Up” on the top right-hand side of the home page. (As shown below).
Complete the information requested. You may opt for using your email address or phone. It is important to note that once you have signed up, you are not able to change your country or region. See below:
Once you have entered your email address (or phone number) click the “Send” icon to receive a verification code.
Enter the verification code and complete the remaining information, agree to the terms, and click “Submit”.
Now you may log-in and familiarize yourself with the platform.
As you familiarize yourself with the platform, you will also need to complete the verification process to fulfill SnapEx KYC requirements. There is a demo account for users to navigate before going live. Click the “Live” icon on the bottom left of your trade screen to shift to the demo platform.
Go to the drop-down menu under your email address and select “Verification”.
Complete the information and upload the ID Photo and photo of you with your ID, and a piece of paper with the date and SnapEx handwritten and then click “submit”.
Once you have completed the verification process, you can monitor the status by returning to the verification page.
Post Registration Deposit
Upon meeting the KYC requirements, you will then need to make a deposit in order to begin trading.
To make a deposit, existing Bitcoin, Ethereum, and USDT holders may make a wallet to wallet transfer.
Go to the “Assets” drop-down menu on the top right of your page and select “Deposit”.
Select the crypto wallet that you wish to deposit into from the options on the left-hand side.
To then make a deposit, either use the wallet QR code or copy the deposit address provided and enter this into your existing crypto wallet. Entering an incorrect wallet address will lead to a loss of coins.
Please note that there is a minimum deposit for each crypto. Any deposit attempts made for amounts below the minimum limits will not be processed.
For traders looking to purchase cryptocurrencies with a credit card, click the “Buy Crypto” icon located on the top left of your home page.
You may purchase Bitcoin with your Visa or Mastercard with Simplex. Enter the amount of Bitcoin that you wish to purchase, in US Dollars, click the chain link and then click “Buy”. There is a minimum purchase equivalent of $50 and Simplex charges a fee of 5% or a minimum of $10.
Complete the verification process to finalize the purchase. Once purchased, SnapEx converts the Bitcoin into Tether USDT and funds your USDT wallet.
For Indonesian citizens, there is the option to purchase Bitcoin via Beli Bitcoin and there is also the option to purchase from a Merchant. Simply scroll down to see the cryptos available for sale.
Fees and Charges
SnapEx has amongst the lowest fees in the crypto market place.
The current transaction fee rate is 0.1%, which is charged when you open a position. There are no additional charges for closing a position and there are no hidden transaction costs.
Additionally, traders can offset transaction fees with accumulated SNAP points.
The fees can also be located here.
Fees for Deposits and Withdrawals are summarized as follows:
For deposits, there are no deposit fees for USDT – OMNI, USDT – ERC20, or for BTC.
When you choose to deposit with ETH, however, there is a small miner’s fee that varies but is usually less than 0.0003ETH.
For withdrawals, the fees are as follows:
- USDT – OMNI: 10 USDT.
- USDT – ERC20: 5 USDT
- Bitcoin: 10 USDT
Privacy and Security
SnapEx delivers users with a high-level security environment to protect investor assets and the platform.
To improve your security settings, go to “Account” from your account drop-down menu as shown below:
Phone: SnapEx requires users to bind their phones with their SnapEx account to allow withdrawals, password changes, etc. SMS authentication delivers an added layer of security.
Email Verification: By setting an Email Verification, users must enter a verification code in order to make withdrawals, reset passwords, and make any changes to account security settings.
Google Authentication: Users can add an additional layer of security that requires authentication via Google to allow the withdrawal of funds, etc.
SnapEx supports the trading of Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), and Ripple’s XRP (“XRP”) with Tether (“USDT”).
Traders can locate the cryptos supported by SnapEx on the “Trade” page, as shown below.
SnapEx offers users SNAP points that can either be converted into USDT or used to reduce transaction fees.
As shown below, users receive SNAP points for completing tasks.
10,000 SNAP points are equivalent to 100 USDT.
To view the range of tasks and SNAP points on offer, go to the “SNAP” page that can be found in the Assets drop-down menu.
SnapEx provides users with compatible wallets for cryptos that are supported for deposits by the SnapEx exchange.
Traders are able to navigate directly to the “Fund Details” page to view the available wallets.
Crypto wallets are available to hold Bitcoin (“BTC”), Ethereum (“ETH”), and Tether (“USDT”).
Simply go to the “Assets” dropdown menu and select “Fund Details” and then chose the “Wallets” page as shown below:
Within the Wallets page, users are given their respective balances and an estimated USDT balance for each wallet. A total assets balance is also provided in USDT along with an equity breakdown.
Traders can deposit and withdraw to and from each wallet with ease by selection Deposit or Withdraw. Please see the Deposit and Withdrawal section below for details.
SnapEx provides numerous customer support options.
Users can click the “Customer Support” link located at the bottom of the home page under “Contact Us”. This allows users to send email queries directly to customer support.
Through the online “Help” link, there is also a live chat and a search function to obtain answers to any queries. In order to chat with a customer support representative, click “Live chat”.
Social Media: SnapEx has a strong social media presence.
- Facebook: https://www.facebook.com/snapextech/
- Twitter: https://twitter.com/snapextech
- LinkedIn: https://www.linkedin.com/company/snapexofficial
- YouTube: https://www.youtube.com/channel/UC6vkwoMqNNTLMVfW_QEQQIw
- Instagram: https://www.instagram.com/snapextech/
The Affiliate Program
SnapEx has an attractive affiliate program, offering up to 50% commission from handling fees.
- Affiliates can enjoy a 10% indirect commission from other referrals made.
- SnapEx provides branding and marketing assets to provide support.
- Affiliates also get exclusive affiliate promotions to attract new users.
Reward types for affiliates are as follows:
- Monthly trading volume > 10m USDT.
- 50% direct commission.
- Up to 10% indirect commission.
- Monthly trading volume > 5mUSDT.
- 45% direct commission.
- Up to 10% indirect commission.
- Monthly trading volume < 5m USDT.
- 40% direct commission.
- Up to 10% indirect commission.
To join the affiliate program go to the affiliate page and click “Join Now”.
There is plenty of additional information to assist users in navigating and understanding the processes.
Some of the more frequently asked questions available on SnapEx include:
- How to complete KYC verification?
Click “Account” to go to your SnapEx account dashboard. Then, click “Verification” – “Verify”, and enter the Verification page.
Step 1. Enter the country/region, the name, the type of certificate and the ID number.
Step 2. upload the ID photo.
Step 3. Wait for review and approval, expecting approval granted within 24 hours.
- Deposit with Your Credit Card
- Click 【OTC】>【Buy】, select your local currency (except for CNY), then choose the currency you want to pay with. Currently, we only support USD and EUR.
SnapEx is a user-friendly crypto trading platform supporting the trading of mainstream cryptos by way of derivatives contracts. In the volatile world of crypto, this gives traders the ability to go long or short with leverage of up to 100x.
With a good selection of crypto pairs to choose from and low transaction fees, this is an attractive platform, even for the more experienced trader.
For the more novice trader, the low margin and deposit requirements are also a plus. The minimum margin is just 5 USDT, with the highest margin being 20,000 USDT.
There is also a high emphasis on security, which delivers the level of safety now expected across crypto trading platforms.
And finally, when considering the low transaction fees and option to offset with SNAP points, the platform is also economically friendly.
- South Korea
- Russian Federation
- New Zealand
- Saudi Arabia
- United Kingdom
- Czech Republic