Is Tidex a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Tidex is a good crypto exchange to start trading with. In this article you will learn whether Tidex is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Tidex
Tidex Exchange offers access to trading dozens of cryptocurrencies and tokens, including Bitcoin, Litecoin, Ethereum, Tether, DOGE, TDX, WEST and other assets. The US dollar (USD) is the only available fiat currency. The exchange is well known in the global market thanks to its beneficial trading conditions – the fees are fixed and for the majority of cryptocurrencies the fees are 0% for the makers and 0.1% for the takers. The fees do not depend on the trading volume, but they can be reduced by 5-90% through the holding TDX (the platform’s token). The exchange also offers the universal passive income system – staking with up to 25% per annum and without freezing of the funds on the account. As for the additional features, the platform offers a Referral Program and loan system with TDX as collateral. The exchange has API; the listing is open and any person can submit a request to add their token to the pool.
| 💰 Account currency: | Cryptocurrencies, USD |
| 🚀 Minimum deposit: | 1$ |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
Tidex Pros and Cons
👍 Advantages of trading with Tidex:
•Dozens of popular cryptocurrencies and tokens, and US dollar of the fiat money are traded at the exchange;
•No minimum deposit and no limitations on trading strategies, the limits are appropriate;
•Staking for passive income without freezing of the funds on the account and with daily accrual;
•Referral program with 30% bonus from the partners’ trading fees;
•Holding TDX, the token of the platform, allows you to considerably reduce trading fees;
•The platform provides its clients with an open API for cross-platform trading.
👎 Disadvantages of Tidex:
•No application for mobile trading;
•No demo accounts.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Tidex Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Tidex offers traders the following conditions.
| 💻 Trading platform: | TradingView (in the browser) |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, USD |
| 💵 Replenishment / Withdrawal: | Debit/credit cards and accounts, electronic and crypto wallets |
| 🚀 Minimum deposit: | 1$ |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Many trading instruments, only one fiat – USD, profitable staking with fixed and floating programs, very low fees; they can be reduced by using TDX token |
| 🎁 Contests and bonuses: | N/A |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Tidex commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Tidex charges trading fees. Trading fees are fixed for all assets; they do not depend on the chosen instrument or the transaction volume. The client’s trading volume also does not affect the fees, as is the case with many other platforms. Therefore, a novice trader, who just registered at the exchange, has the same conditions as a professional.
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0% for the maker;
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0.1% for the taker.
The clients of the exchange also have an opportunity to reduce trading fees through the TDX token. This is the platform’s own coin, which is actively traded. The more TDX the client has on their account, the lower are the fees. There are nine levels based on the number of TDX on the client’s account. At the first level (500 coins on the account, the discount on the fees is 5%. At the ninth level (100,000 coins on the account), the discount is 90%.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.1% per order | Yes |
Investment programs of Tidex
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Tidex offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
Tidex Exchange provides its clients with an opportunity to earn a profit from staking. They can transfer part of their funds to be used by owners of developing blockchain projects and earn interest in return calculated based on their deposit. The exchange in this case is an intermediary.
There are two types of programs – fixed and floating. All programs provide an opportunity to withdraw partially or fully the deposit; it is not blocked. However, you need to keep in mind that the profit will be recalculated in accordance with the deposit adjustments and can be substantially reduced.
Fixed programs are valid for a limited period of time. The user chooses the period – 7, 15, 30, 40, 45, 60, 90 or 120 days. For some programs, only specific periods are available. The interest is accrued daily based on the amount of the deposit and the deposit is returned upon the expiry of the program or upon request.
Floating programs do not have a fixed period of validity. A user makes a deposit for a potential unlimited period (until the exchange’s partners removes the request upon raising sufficient funds). Floating programs offer higher profits.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Tidex’s 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 lawfulness of actions of its clients.
Conclusion. Is Tidex good for beginners?
The Tidex cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Tidex could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.