tidex review

Tidex review 2023: Tidex token, Security, & More!

Share This Post

Tidex is a highly effective trading ecosystem combining all the qualities of modern centralized crypto exchanges. This Tidex review is an up-to-date, detailed analysis of Tidex exchange, containing everything you need to know about Tidex and whether it’s the right exchange for you.

Let’s Dive in!

Tidex review

Tidex is a centralized cryptocurrency exchange (CEX) that operates out of London with a long history that started in 2017. The Tidex brand is owned and operated by a company known as Elite Way Development LLP, a fintech company.

The co-founder of the exchange is a scientist known as Alexander Ivanov, who’s the creator and CEO of the crypto platform, Waves. With the help of an ICO in 2016, Alexander Ivanov was able to raise 30 000 BTC i.e., 16 million USD at the time the token sale was raised. 

Today, the level of development of the company has reached great heights, and the token capitalization of Waves has exceeded 3 billion USD. Before creating Waves, Alexander was also known in the crypto space for launching thematic projects, several exchanges, the Cooleindex indexing site, and an early version of a stablecoin – CoinoUSD.

Tidex offers its users the opportunity to purchase cryptocurrency tokens, as well as buy and sell listed crypto assets on its exchange. It has quite a huge trading volume per day and is also one of the top 50 crypto exchanges, popularly known for its intelligent and intuitive designs.

Tidex review: What is Tidex?

Tidex is a leading cryptocurrency exchange that provides traders the opportunity to buy, sell, trade, and stake cryptocurrency tokens and assets on its platform. 

what is tidex exchange
Tidex Crypto Exchange Interface

There are over 100 trading pairs available on the platform, and it is popularly known for its user-friendly and straightforward interface. The exchange team has developed an easy-to-use and intuitive interface that facilitates easy tracking and control of trading activities. 

The exchange exists in the form of a website that supports a pool of languages, including English, Chinese, French, and Russian. Users can use the mobile version of the website in order to perform transactions and monitor the markets. 

tidex review: Tidex Features

The Tidex reviews offer impressive features that make trading smoother and more accessible for all kinds of traders. Below are some of the features: 

Functionality

This is a notable feature of the platform, as it uses a web-based cryptocurrency exchange platform. The user interface is easy and beginner friendly with a variety of trading functions. Additionally, there are advanced trading features such as trading history, responsive charts, different design and time frame options, an order book, and several indicators for technical analysis.

Several Trading Options

The exchange platform offers a good variety of trading options for both beginners and high-volume traders. The users have full access to market orders, supporting limits, and margin trading, along with a transparent and straightforward fee structure. The platform charges a flat fee of 0.1% for market takers, while no fee is charged for the market makers.

Technology

The exchange offers its traders an excellent application programming interface (API) that enables cross-platform trading and makes it accessible for all traders to trade via tablet, mobile, and desktop. The API technology allows traders to perform daily transactions in a setting they find best and keeps a record of their trading accounts on the go.

The page consists of a calculator that measures the rate at which traders wish to borrow. Traders can borrow USD Tether (USDT) crypto coins (the minimum borrowed amount is fixed at 100 USDT) by keeping bitcoins as collateral. So, it is a form of Bitcoin loan. However, to avail of the crypto loan, users need to log in to the account, and since it is a Bitcoin loan, they should have a BTC balance in their wallets.

It is worth noting that Tidex loans are flexible, which means there are no deadlines, and the platform does not check the user’s credit history before releasing the loan. So, this loan service is extremely quick, and the users can get the loan instantly and with ease.

Tidex Interface

A user-friendly interface is essential when it comes to providing consumers with the best possible trading experience. Therefore, any exchange platform’s interface must be designed to be as user-friendly as possible. 

It is the one specific factor that, if not done correctly, has the power to drive traders away from the market entirely. Therefore, a quality user interface must be intuitive, simple to use, and provided with the appropriate trade tools to be effective.

Tidex Trading Services

Tidex trading enables users to buy crypto tokens and buy/sell supported crypto on the exchange. The trading engine can be accessed through any browser or through the Tidex mobile app.

Users should go to the Markets page and select their desired trading pair to use the trading engine. The interface is also impressive, as it displays interactive charts for crypto-asset analysis, a buy/sell box, and pertinent news relating to the market. Additionally, traders can place their trades as limit orders or market orders.

Tidex partnership program

Tidex offers a standard referral program. Every user receives a personal referral link and adjustable banner after verification. They can be published on any resource. Note that the exchange prohibits spam and other ‘grey’ and illegal methods of distribution of information. A user can be banned for that.

Every user, who follows the link of the exchange’s client, registers, verifies their account, and starts trading becomes the client’s referral. A referral brings the link’s owner 30% of all trading fees they pay. The status of the referral has no expiration date, and therefore it lets the client earn a profit the entire time the referral trades at the exchange.

The number of referrals a client of the exchange can invite is not limited. The same regional restrictions as for trading are applied to this program. The platform is actively combating fake accounts; it has a rather strict policy of controlling the legality of the actions of its clients.

Tidex review: Tidex Airdrop

Today, airdrops are carried out on almost every exchange as a marketing strategy, and different exchanges use this as a way to increase interaction on their exchange platforms. 

Tidex is not exempted from this, as it has also integrated its own airdrop program with a great reward system for users, as conducting an airdrop will help to create social activity and attract new users to its platform.

Tidex has set aside a total supply of 20,000,000 TDX for this distribution. To join this reward pool, below are the outlined steps you’ll need to carry out to qualify:

  • 200 TDX to complete the registration by getting signed up on the exchange, then complete the KYC verification and make a deposit of 20 USDT or more to your account.
  • 70 TDX for each user you invite who fulfills the conditions of AirDrop
  • 30 TDX for each user who fulfills the conditions of AirDrop, and was invited by your referral.

Note: Tidex exchange stated on its website that it has completely distributed Tidex tokens. Either way, you can still stay active and look out for more airdrop opportunities.

how to benefit from tidex airdrop program
Tidex Airdrop Program

Tidex review: Tidex Mobile App

The Tidex mobile app is an easy-to-use application with its Intelligent and Intuitive UI which makes it a highly effective tool, built for beginners and pros alike, combining all the qualities of modern centralized cryptocurrency exchanges in one platform.

tidex mobile app
Tidex App Interface

The Tidex Exchange app has over 5,000 downloads on the Play Store, with support for Android and IOS users.

Signing up on Tidex gives you access to a pool of currencies that you can use to buy, sell, trade, stake, and more. 

Tidex Loyalty Program

Tidex offers impressive and advanced trading features and provides loyalty to its users. The loyalty scheme is executed through TDX or Tidex tokens that are native to the exchange. 

Tidex is a Waves-based blockchain and offers certain significant benefits to its token holders. For example, a TDX holder is entitled to discounted fees. The discount rate may go up by 90% if they hold more than 1,00,000 TDX on the exchange.

Furthermore, TDX holders also benefit from staking as rewards are given to them. This way, TDX gets released into the network. Holders can hold a minimum of 500 TDX for a minimum of 24 hours. 

TDX holders with 500 TDX may get 5% every year. In addition to this, users can hold more than 100 Waves tokens for at least 5% per year. Hence, Tidex can be used for staking both Waves and Tidex tokens.

tidex review: Tidex Pros and Cons

Pros

  • A good number of cryptocurrencies: Tidex has over 130 cryptos listed on its platform containing some of the popular cryptocurrencies and tokens. Also, US dollars of fiat money are traded at the exchange.
  • Referral program: Tidex has a referral program with which you can gain a 30% bonus from the partners’ trading fees.
  • Tidex Crypto-Backed Loans: One of the best features traders can enjoy on the platform is the Tidex Crypto-Backed Loans. This service allows users to get a Tidex crypto loan with their available Bitcoin balance.
  • Tidex Staking Box: Another notable feature that makes it one of the best trading platforms is the Tidex Staking Box. Platform users can earn substantial passive income through flexible staking of up to 45% per year.
  • Beginner friendly: Tidex has a simple and easy-to-use user interface. It provides a secure and intuitive trading platform, making the world of crypto accessible to everyone.
  • Tidex airdrop program: Tidex airdrop is live and airdropping 20,000,000 TDX to users who create an account, complete KYC and deposit $20 worth of crypto to receive 200 TDX. Also, get 70 TDX for each referral and another 30 TDX when your referral invites another friend.

Cons

  • No demo accounts: Tidex doesn’t have a demo account. A demo account is necessary for a beginner. Since you’re just starting out you’ll need to use fake funds to practice before using real funds.
  • Not available in the U.S: Tidex exchange services are not available to residents of the following countries or regions: USA, Afghanistan, Pakistan, Zambia, Nepal, Iraq, Iran, North Korea, Crimea, DPR, and LPR.

tidex review: registration Process of Tidex

How Does Tidex Work?

The Tidex registration works similarly to other crypto exchanges. The process is highly transparent and requires a few minutes to complete.

Step 1

On the sign-up page, input your email address and choose a password, then check the boxes and click on “Sign up.”

how to sign up on tidex

Step 2

Now a six-digit code will be sent to you to verify your email address. Go to your email account, then copy and paste it into the required field.

tidex exchange review

Note: Now your email will be automatically verified and your account created. Finally, you’ll need to sign into your account to begin exploring all of Tidex.

how to create a tidex account

Tidex review: How to Trade on Tidex

First off you’ll need to Sign up on Tidex in just a few steps

Step 1

On the sign-in page, input your tidex.com login details (your Tidex exchange login details), i.e., email and password, then click on “Sign in.”

Step 2

You will need to trade your desired coins for one of the base currencies on the Tidex platform. These include BTC, ETH, USDT, and WAVES. To trade Bitcoin for WAVES, click on BTC and search for WAVES to find the BTC/WAVES market pair.

Step 3

The screen will display the number of WAVES you will receive in addition to the total amount in BTC. Click on “Buy” to make the trade. A confirmation message will be shown, and you can click “Yes” to confirm the trade.

Tidex review: Tidex Supported Currencies

Tidex supports over 130 cryptocurrencies on its platform for Investors/traders to buy, sell, and trade. Some of them include:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Blackmoon Crypto (BMC)
  • DigitalCash (DASH)
  • Dogecoin (DOGE)
  • EOS (EOS)
  • Ethereum (ETH)
  • Tether (USDT)
  • Waves (WAVES)

The platform also incorporates its native Tidex token (TDX), which is issued to users via loyalty programs. The Waves-based token provides a basis for the Tidex discount program, and rewards are paid out as TDX tokens to active traders on the exchange. 

Frequent traders receive a daily reward on their balance that reflects their daily trading volume, and all TDX token holders get a commission discount of up to 80% and will be able to reduce a trading commission to as low as 0.05% on all trades.

Trading Conditions for Tidex Users

In order to start trading on Tidex, you need to register and pass verification (confirm your information). It is possible to trade without verification, but the features will be limited, and strict limits are applied to such users. 

The exchange does not have a minimum deposit; the clients can independently manage their financial policies. They can rely only on their own funds, as the exchange does not provide leverage. Customer support is available 24 hours a day, and there are three ways to contact it – live chat on the website, a ticket system, and email.

Tidex review: Tidex Trading View

Different exchanges have different trading views, as do we all. My trading view might be different from yours, so you should determine which trading view suits you the best or which you’re most comfortable with. 

What the exchange views normally have in common is that they all show the order book, or at least part of the order book, cryptocurrency pairs, a price chart of the chosen cryptocurrency, and order history. They normally also have buy-and-sell boxes.

The trading view is essential, as it goes a long way toward affecting your trading experience. So before you choose an exchange, try to have a look at the trading view so that you can ascertain whether it feels right to you. 

Tidex Trading View

tidex review: Tidex Fees

Trading Fees

Every trading platform charges its users a trading fee, which is usually a percentage of the trade order. Generally, exchanges charge different fees for takers and makers. 

Takers are those who take an order, whereas makers add orders to an order book. Tidex charges a 0.1% trading fee for the takers, while no fees are charged for the makers. Hence, it promotes liquidity in the exchange.

Tidex review: Tidex Withdrawal Fees

Regarding the Tidex withdrawal fees, for every Bitcoin (BTC) withdrawal, the platform charges a withdrawal fee of 0.0005 BTC, which is slightly lower than the global industry average of 0.0008 BTC. More exchanges are charging 0.0005 BTC withdrawal fees for Bitcoin withdrawals, making Tidex more competitive in terms of withdrawal fees.

CryptoDeposit feeWithdrawal feeMinimum depositMinimum withdrawal
BTCfree 0.0001187 BTC 0.0002 BTC0.0002 BTC
ETHfree0.0026 ETH0.0007 ETH0.0027 ETH
AAVE free 0.05447809 AAVE0 AAVE0.0544781 AAVE
ADA free9 ADA0 ADA9.1 ADA
ATOMfree0.4 ATOM0 ATOM0.41 ATOM
AVAX free0.02 AVAX0 AVAX0.03 AVAX
BCH free 0.001 BCH0 BCH0.002 BCH
BNB free 0.01 BNB0 BNB0.011 BNB
BRL ADVADV50 BRL50 BRL
BTGfree0.001 BTG0.001 BTG0.002 BTG
BUSD free2 BUSD0 BUSD3 BUSD
CAKE free1.1 CAKE0 CAKE1.2 CAKE
COMP free0.0896666 COMP0 COMP0.0896667 COMP
DAI
freefree0 DAI0 DAI
DASH free0.004 DASH0 DASH0.005 DASH
DOGE free40.4 DOGE100 DOGE40.5 DOGE
DOT free0.34 DOT0 DOT0.35 DOT
DRGN freefree 0 DRGN0 DRGN
EOS free0.2 EOS0 EOS0.3 EOS

Tidex Deposit Fees

Tidex accepts deposits only in the form of cryptocurrencies. This means that users always have to maintain crypto deposits on the platform, and guess what? It does not charge any deposit fees.

Tidex Deposit and Withdrawal Method

Tidex Deposit Method

To start making deposits on the trading platform, log in and click on the “Deposits and Withdrawals” tab. Select the cryptocurrency, and click “Deposit.” Users should copy their deposit address and paste it into their best crypto wallets. Make sure that the cryptocurrency to be deposited is supported on the exchanges.

Tidex Withdrawal Method

The withdrawal method is as easy as the deposit method. Select Deposits and Withdrawals once again, choose the coin to be withdrawn, and click Withdraw.

The next step will display the available balance, the wallet address, the total crypto balance, the withdrawal amount, and the withdrawal fee. 

Users need to enter the required details and press the “Withdraw” tab. Note that once the withdrawal process has been initiated, it cannot be canceled.

Tidex review: Tidex Exchange Reviews

These Tidex exchange reviews include both positive and negative feedback from Tidex exchange users. Below are some of the top Tidex Reddit reviews from its users.

A few months ago I went on Tidex and bought mobilego, I decided to sell it and I’ve tried to send my bitcoin to my bittrex wallet, coinbase, bread wallet and quadrigacx (Canadian exchange for buying and selling BTC) it says can’t verify address for every single one of those wallets I tried. I strongly advise everyone to stay away from that exchange at least for now.

They are very scummy thiefes . On the TRX mainnet they announced on telegram and twitter ‚to withdraw ASAP‘ very classy. no email notification, so I got screwed over for 12000 trx because I didn‘t follow these channels and just the email (the only official tie to this exchange). No help from the support, the trx are not there to withdraw, erc20 and mainnet, just vanished (into the thiefes/owners pocket). At least this way they made some profit, as of trading there is not alot going on. withdrawal fees for alot of coins are in the 5-10 usd for alot of erc20 (which cost 30 cent) boosting profits. On another occasion they didn‘t stop tio trading when tio team asked them to do so. So know you have to go to a lenghty request process to claim them and pray.

Saw Tidex.com offering 38% APY return for staking USDC, paid out daily. So last week I made a mid 5-figure deposit. The APY dropped from 38% down to 19% first day, but then went back to around 34%. I was getting paid out daily in USDC.

Two days ago I un-staked which tanked the USDC staking APY down to 8%, now showing 11.83%. There is a day wait to received staked funds back into your deposits. I received my un-staked USDC in my Tidex deposit account. Yesterday I tried to withdraw this USDC to my wallet. It’s been well over 24 hours and the transaction only says “processing”.

I opened a ticket and eventually got a response of don’t worry they will look into it and delays are because of congestion on ETH blockchain. Gwei was down to below 40 during the time my withdraw has been in “processing”.

Have I been scammed?

Should I report to FBI and/or other agencies?

Can Coinbase or Circle help me?

There is little Tidex contact information. What else can I do?

Update: It’s been 10 hours since I got a response from submitting ticket that they were looking into it and not to worry.

Update 2: Transfer completed a few hours ago. I was really worried. Leaving this post up as a sort of review of my experience with staking at Tidex. For the most part what they advertise they deliver. Just be prepared to wait a day or two for withdraws.

TLDR: NOT SCAMMED, they LIGIT.

Tidex Security and Privacy

This review provides an index that is concerned about its clients’ security, and hence, it has taken careful steps toward privacy and security features on the platform. The data encryption technology takes care of its client’s personal information. 

Furthermore, anonymous data may be recorded from personal data records simply by eliminating personal information like the client’s name, making it personally traceable only to the clients. 

The platform uses this anonymous data to evaluate the requests and use the trends for content improvement. Note that Tidex Trading does not sell, rent, or share user information with 3rd-party agents.

Tidex Customer Support

Every trader using Tidex has full access to customer support throughout the year. Additionally, the exchange platform can also be reached using several social media platforms. It has an email address for business proposals and a customer service ticket system.

Tidex Exchange API

Talking about APIs, it is justified to say that the API on Tidex trading is attractive, Note that the currency pairings have a hyphen (-) between them, and users can add more than one pair. However, they can not submit duplicate pairs. Every API reply is in JSON format, and the information is instantly cached within 2 seconds.

Tidex review: Tidex Token (TDX)

tidex token review
Tidex Token

Exchange tokens are service tokens used for the benefit of the exchange ecosystem. Tidex Coin is known as TDX. TDX was designed as an effective way to stimulate activity on Tidex, thus retaining its users and attracting new ones. 

The lack of decentralization in decision-making often scares people away. So because of this, one of the many utilities of the Tidex token is a DAO, which helps create decentralization in decision-making. 

Tidex DAO Token 

Blockchain has solved a number of problems for traditional entities using decentralization, and now it is time to decentralize the management of funds. Today, the development of the exchange token is geared towards the management of the economy. 

The TDX token is needed for various transactions within the Tidex ecosystem, some of which include:

  • Payment of Maker-Taker commissions, on-the-spot, and margin exchange transactions.
  • Payments within The NFT Marketplace
  • Tidex fees
  • Listing fees
  • Participation in crowdfunding and the fundraising campaigns of community members.

Also, it is also important to note that users who hold TDX Token and choose the option to pay exchange fees in TDX shall receive a certain discount on spot trading fees.

However, as of October 24th, 2022, the Tidex token price according to coinmarketcap is $0.104, which is a huge rise from its launch price with a maximum supply of 150,000,000 TDX. 

If you would like to know where to buy Tidex Token at the current rate, the top cryptocurrency exchanges for trading in Tidex Token stock are currently MEXC, Huobi Global, Tidex, Uniswap (V2), and PancakeSwap (V2).

Tidex review: Tidex Wallet

Tidex wallet has support for over 65 currencies, which you can use to store your cryptocurrencies. 

Tidex Wallet Interface

Some of the supported currencies to deposit and withdraw include:

  • ADA, Cardano
  • ATOM, Cosmos
  • AVAX, Avalanche
  • BCH, Bitcoin Cash
  • BNB, Binance Coin
  • BRL, Brazilian real
  • BTC, Bitcoin
  • BTG, Bitcoin Gold
  • BUSD, Binance USD
  • CAKE, PancakeSwap Token
  • COMP, Compound, and more

If you’re a margin trader, guess what: Tidex wallet includes a margin wallet section that supports three currencies for borrowing and trading, including:

  • BTC
  • ETH and
  • USDT

Is Tidex Legit?

The ability of an exchange to be secure cannot be overemphasized.

So the question: is Tidex is safe is highly appropriate and of the essence, as it goes a long way to ensuring the safety of your funds.

Tidex Exchange claims to be extremely secure due to the advanced algorithms and the latest security systems installed. Below are some of the security measures taken on Tidex:

  • The core of the system is based on full data encryption: The website uses SSL certificates to make sure your data is safe and encrypted. 
  • Funds and assets are also highly secured through a system of hot and cold wallets: Hot wallets retain and use assets to provide liquidity, while cold wallets with no direct access to the Internet are stored offline. Although Tidex didn’t say how many of its user’s funds are stored offline.
  • Multi-Factor authentication provides a high level of protection for the account and financial transactions performed on it. Also, without two-factor authentication, it removes the possibility to activate the use of the trading API, which provides protection against excessive negligence.
  • Advanced protection from DDoS attacks with multi-level firewalls ensures uninterrupted operation of all Company services even during attacks. 
  • Proprietary anti-fraud systems perform risk assessments, monitor user transactions, and can detect suspicious activity. 
  • The Tidex team conducts scheduled and unscheduled security audits with frequent regularity, followed by certification. Audits play an important role in regulatory compliance in many jurisdictions.

With the above installments, I think we can all agree that Tidex takes security seriously and 

Tidex review: Conclusion

Tidex crypto exchange offers good trading conditions for beginners and experienced traders. It has an easy-to-use, intelligent user interface that enhances trading experiences. 

It is a quick and stable trading platform with a good amount of cryptocurrencies and tokens, and its fees are also lower than average. The fees can be further reduced thanks to the TDX token.

With this Tidex review, I’m sure you now know your way around Tidex and what to expect as a beginner. Do well to leave us a comment and let us know how you feel about Tidex exchange.

Tidex FAQ

No, Tidex is not a regulated cryptocurrency exchange.
Tidex is based in London, UK.
Tidex makes its money by charging market maker fees as well as fees on buy/sell transactions on the platform.
Tidex accepts crypto deposits using Bitcoin and Ethereum as the primary deposit methods.
Withdrawal of funds from Tidex is done in BTC, ETH, and USDT. This is an intricate process where the user must deploy 2FA for the safety of transactions.
Yes, Tidex is reliable, but it still needs to improve its product offering to be able to compete against other, more seasoned exchanges in the market.
No. Tidex is not a scam. There have been no cases of traders being scammed out of their cryptocurrency holdings.
Tidex is a centralized cryptocurrency exchange (CEX) that operates out of London with a long history that started in 2017.
No. Tidex exchange services are not available to residents of the following countries or regions: the USA, Afghanistan, Pakistan, Zambia, Nepal, Iraq, Iran, North Korea, Crimea, DPR, and LPR.
Traders can start trading Bitcoin and WAVES trading pairs on the Tidex exchange by clicking on BTC and then searching for WAVES. It instantly displays the number of WAVES that you will get over and above the BTC amount. Press Buy to initiate the trade. The screen will display a confirmation message; press Yes to confirm your trade.
To start depositing and withdrawing funds from the platform, investors must first create an account with their details and verify their email IDs. They also have to maintain a minimum balance on the account to start trading and withdrawing crypto funds.
You can fund your account on Tidex by depositing cryptocurrency.
No, you can’t deposit fiat currency on Tidex.
Yes, Tidex has a mobile app. The exchange’s app is available for Android and IOS devices.
Tidex is a centralized cryptocurrency exchange. This means that Tidex manages users’ cryptocurrency deposits, and its systems handle the trades happening on the platform.

Share This Post

Leave a Comment

Your email address will not be published. Required fields are marked *