If you're looking for an objective review of AEX and how it stacks up against other options on the market, look no further. We've done the research for you and our analysis covers everything from product features to trading fees to user experience. Read on to find out if AEX is the right exchange for you!
AEX is a cryptocurrency exchange that was founded in 2013 and is operated by Bit World Investments Limited. The exchange has over 200 employees, is licensed in the United States, Canada, Singapore and the UK, and is available in over 100 countries around the world.
Despite being globally accessible without KYC being a requirement, AEX is still a relatively small exchange with roughly 1 million users.
The exchange supports a limited range of less 100 digital assets including well-known cryptocurrencies such as Bitcoin, Ethereum, Fantom, Arweave, Global AEX Token, and more. AEX exchange is also available on Android and IOS where it has over 50,000 downloads with a 4.2-star rating.
AEX Signup & KYC
To signup for AEX is simple and users can choose between phone or email signup, enter their nationality and select a password.
AEX is unique in that KYC is not obligatory for users who simply want to signup, deposit cryptocurrencies and begin trading spot. However, KYC on AEX is necessary for users that want to increase their withdrawal limits or access additional features.
AEX Products & Services
AEX Exchange offers basic spot trading for 100 well known cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, Solana, Polkadot and others. Liquidity on AEX exchange is not great with daily trading volumes ranging between $1-$10 million. This is quite small considering the bigger exchanges like Binance and OKX are doing billions of dollars worth of trading each day.
Users on AEX have the option to earn interest on their digital assets through lending, borrowing, dual investments, and staking opportunities. However, the user experience on AEX is not great, as we experienced 404 errors due to server issues while testing the website. Certain parts of the website also don't work due to bugs or lack of updates.
Despite these issues, the exchange has a simple and easy-to-navigate interface and a small range of products and services. Overall, AEX is suitable for beginners but is unlikely to satisfy the needs of users looking for a wider range of products and services.
Fiat deposits are not possible on AEX, only cryptocurrency deposits are available or the option to buy crypto with card. As always, we recommend users avoid buying or selling cryptocurrencies via third-party providers as the fees for that are much higher.
AEX Withdrawal Methods
When it comes to withdrawing funds from AEX, users can only withdraw cryptocurrencies such as BTC, ETH, USDC and USDT. The fees to withdraw well-known cryptocurrencies such as Bitcoin, Ethereum, Solana and ERC-20 USDT vary depending on the blockchain.
Bitcoin withdrawals come with a fee of 0.0009 BTC, Ethereum with a fee of 0.008 ETH, Solana with a 0.01 fee, and ERC-20 USDT with a fee of 5 USDT. It's important to note that the fees may change and users should always check for the latest fees before withdrawing funds.
To summarize, AEX is a smaller cryptocurrency exchange with a user base of over 1 million users worldwide. The exchange supports 100 digital assets, including popular cryptocurrencies like Bitcoin and Ethereum.
A notable feature of AEX is that KYC is not necessary for basic spot trading, and the exchange offers lending, borrowing, dual investments, and staking opportunities for digital assets.
The trading fees range from 0.06% to 0.16%, and users can reduce fees by trading volumes or holding GAT tokens. Only cryptocurrency deposits are available, and users can withdraw cryptocurrencies with varying withdrawal fees.
Overall, AEX is suitable for beginners but may not offer enough products and services for more experienced traders. Despite server issues and bugs, the platform has a straightforward and easy-to-navigate interface.
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Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.