trustdex Review 2019
Trustdex is an online cryptocurrency exchange site which has been set up in partnership with US cryptocurrency exchange GDAX. The company behind the Trustdex brand is TrustPay, located in England, Australia and the US.
Trustdex offers several other services apart from its core service of cryptocurrency exchange. It also serves as an exchange where users can buy Bitcoin, Ether and other altcoins using fiat currency options. Any cryptos so purchased can be used for other purposes.
- Trading Platforms
- Trade Types/Instruments
- Account Types
- Commissions and Spreads
- Deposits and Withdrawals Options
- Bonus and Promotions
- Customer Support
- Pros and Cons
Trustdex is not a regulated exchange. However, it operates as a partnership with a US-regulated exchange known as GDAX.
Trustdex has put in place measures to secure the data of its users as well as guarantee integrity of its trading platform. Cold wallets are provided to enable users to store their crypto assets off-exchange. Trustdex is also PCI DSS compliant, making card transactions safe.
Trustdex features a web-based platform which can be accessed via its website. The platform enables the following:
- Trading of cryptocurrency assets (buying and selling of cryptocurrencies for profit).
- Purchase of Bitcoin, Ether and other altcoins using fiat currency options.
- Debit/virtual card-linked services using the Trustcard Card. This card works on VISA platforms (ATMs and POS) and allows simultaneous conversion of cryptocurrency assets with their fiat value. Such cards can then be used for e-commerce purposes.
- A secure, open source e-wallet which enables seamless management of the Bitcoin/altcoin finances of Trustdex users.
Trustdex Mobile Trading
Trustdex offers its users a mobile application which can be downloaded directly from the website. Unlike most apps that operate in the cryptocurrency exchange space, the Trustdex app features multiple functions which the trader can deploy. Some of these are:
- Making payments
- Checking information pertaining to the Trustdex account such as account balance, payment history, etc
- Searching for, and viewing the profiles of other users
- Managing contacts
The apps can also be downloaded from the Google Play store as well as Apple’s App Store.
Trustdex offers several instruments for trading:
- VND (the website’s native altcoin).
- Fiat currency (US Dollar).
Traders can use market or limit orders to execute their BUY or SELL orders on the Trustdex platform.
Three account types exist on Trustdex. These are:
Commissions and Spreads
What are the fees and charges that are associated with trading on Trustdex are as follows:
- Market Maker Fees
- Payment gateway fees
- Investing-lending service fees
- IBO fees
Market maker fees: Market makers charge 0.2% per transaction. There is no charge for opening trades. However, closing trades attracts a fee of (0.25%+ Rollover fee) X Margin trading day. Rollover of trades attracts a 0.03% fee.
Fiat Exchange fees: Fiat currency -> cryptocurrency conversions are charged at a min of 1%.
Deposit/ Withdrawal fees: These can be done directly by the user on the Trustdex.io website, or user agents.
Directly on Trustdex.IO
|VISA||3.3% + $ 0.5||No|
|MasterCard||3.3% + $ 0.5||No|
|JCB||3.3% + $ 0.5||No|
|Bank transfer||$ 1||No|
(Western Union, Money Gram)
|VISA||3.3% + 10.000 VND||No|
|Master||3.3% + 10.000 VND||No|
|JCB||3.3% + 10.000 VND||No|
|Napas||1.1% + 10.000 VND||No|
(BTC, ETH, LTC)
(Western Union, Money Gram, Xoom, EUI)
|VND – VND||0.03%||VND – VND||0.03%|
|Min||20,000 VND||Min||20,000 VND|
|max||2,000,000 VND||max||2,000,000 VND|
|VND – USD||VND – USD|
|Min||Coming soon||Min||Coming soon|
|max||Coming soon||max||Coming soon|
|USD – USD||USD – USD||0.2%, Min 2 USD|
|50 USD <||0.2%, Min 2 USD||Other currency||0.4%, Min 3 USD|
|2 USD-20USD||0.4%, Min 2 USD|
|1 USD||0.5%, Min 3 USD|
|Other currency||0.5%, Min 3 USD|
|Amount of money transfer (VND)||At the Agency||Through bank account|
|< 5,000,000||20,000 VND|
|5,000,000 – 20,000,000||50,000 VND||20,000 VND|
|Amount of money transfer (USD)||At the Agency||Through bank account|
|< 250 USD||1 USD|
|250 USD – 1000 USD||2 USD||1 USD|
Deposits and Withdrawals Options
Trustdex provides its users the opportunity to deposit and withdraw funds using fiat currency options as well as a cryptocurrency. The deposit and withdrawal options are as follows:
- Credit/debit card: Accepted cards include MasterCard, VISA, and JCB.
- Bank wire
Bonus and Promotions
Trustdex offers its users a promotional bonus of 100,000 VNDC for signing up with the platform. These VNDC units can then be used for cryptocurrency trading, as shown in the snapshot below:
Here are the customer support channels on Trustdex.
- Email: email@example.com
- Live Chat
- Phone: 1900-63-64-95
- Online support ticket on the contact page.
Pros and Cons
- One of the few sites where traders can buy cryptocurrency with fiat currency options
- Safe cold storage for cryptocurrency assets
- High liquidity order book
- Low spreads on trading
- Advanced algorithms for matching orders
- A cross-platform that is available on the web, as a mobile app and API
- Easy deposits and guaranteed withdrawals
- Traders pay several types of fees at various steps in the process.
- The agency model of remittance needs to be better explained for the benefit of users.
Is Trustdex regulated?
No. Trustdex is not a regulated cryptocurrency exchange. However, the company is registered as a corporate entity in three different countries and has a strategic partnership with regulated US exchange GDAX.
Where is Trustdex based?
Trustdex is based in the US, Australia, and England.
How does Trustdex make money?
Trustdex makes its money through the various fees that are charged on withdrawals, trading transactions, and other services.
How do I deposit in Trustdex account?
Trustdex accepts deposits using various fiat currency options such as bank wires and credit cards. Users can also deposit with Bitcoin.
How do I withdraw money from Trustdex?
Withdrawal of funds from Trustdex is done using bank wires, credit cards, e-wallets and Bitcoin wallets.
Is Trustdex reliable?
Yes, Trustdex is one of the most reliable and trusted cryptocurrency exchanges out there. This is an exchange that works for US citizens as well.
Is Trustdex a scam?
No. Trustdex is not a scam.
How safe is Trustdex?
Trustdex is very safe as it uses the very latest encryption technology and other security features which make the site hacker-proof. It also offers a cold storage for all cryptocurrency assets held by traders in its platform.
The partnership between Trustdex and GDAX has put the Trustdex brand in a good place as far as the market is concerned. Regulatory issues and problems with banks who are indisposed to working with cryptocurrency exchanges tend to make it difficult for traders to source cryptocurrency with fiat currency options. Trustdex has now made it easy for such traders by providing this service.
The fact that other crypto-based e-commerce opportunities are now available is an added benefit to users of the Trustdex platform. It is very little in the way of negatives that can be ascribed to this exchange.
|Headquarters Country||United Kingdom|