TimeX Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web platform
- TIME token, staking, and fixed trading fees
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web platform
- TIME token, staking, and fixed trading fees
Our Evaluation of TimeX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
TimeX is a high-risk cryptocurrency exchange with the TU Overall Score of 2.84 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by TimeX clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. TimeX ranks 148 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
TimeX is a regulated exchange for safe, fast, and completely clear cryptocurrency trading in a peer-to-peer network. It will suit both novice and advanced traders, but due to a small amount of trading assets and the absence of margin trading, it could be less interesting to professionals.
Brief Look at TimeX
The TimeX exchange is a decentralized cryptocurrency platform based on Ethereum Plasma technology. It was developed by the company Chrono.tech which is based in Sydney. TimeX works under the license issued by AUSTRAC, which is an Australian government financial agency. This exchange has a daily trading volume of $21 million and offers over 30 cryptocurrencies that can be bought with fiat money and withdrawn to a bank account or card. TimeX clients trade on a proprietary platform based on TradingView, which is available in its basic and extended versions.
- Its license was issued by the Australian regulatory agency AUSTRAC;
- No minimum deposit requirements;
- Support of fiat currencies, i.e., American and Australian dollars;
- Simple registration procedure;
- The opportunity to start trading after the confirmation of email and phone number without the necessity to provide an ID;
- A trading platform with two interfaces: Simple for beginners and Advanced for experienced traders;
- A referral program and payment of the annual interest for staking the TIME token.
- Limited choice of cryptocurrencies;
- No trading with leverage;
- Slow performance of the support service.
TU Expert Advice
Financial expert and analyst at Traders Union
The TimeX exchange was developed by the Sydney company Chrono.tech, which has also created a platform for freelancers based on the LaborX blockchain and the PaymentX service for payroll payment in cryptocurrencies. The exchange has its own cryptocurrency called TIME, which is a token of the ERC20 standard that can be kept in any Ethereum e-wallet. Over 30 coins and tokens are available for purchase, sale, and exchange.
To create a TimeX account and store funds, traders can use hardware wallets such as Trezor and Ledger Nano. When registering on the exchange, a client gets a mnemonic key, which is a generated 12-word phrase. It’s necessary to quickly restore your account or log in to an app. The key can be converted to a QR code.
On TimeX, traders can have several unverified accounts but there can be only one confirmed monetary account. Presently, neither minimum deposit nor withdrawal limit has been set. The available trading volume depends on verification levels. For instance, the 1st level where you confirm your email and phone number allows transactions in amounts up to 1 BTC per day, and the 4th level — where you provide your ID — increases the daily limit to 50 BTC.
TimeX Summary
| 💻 Trading platform: | Original web platform (simple and advanced) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | USD and cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Credit and debit cards, cryptocurrencies, ADVCash, OSKO, PayID, and bank transfers |
| 🚀 Minimum deposit: | 1 USD |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Commission: | 0.25%-0.5% |
| 🔧 Instruments: | 34 cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Only through internet browsers; there are no mobile apps |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market and Limit |
| ⭐ Trading features: | TIME token, staking, and fixed trading fees |
| 🎁 Contests and bonuses: | Bonuses from the Traders Union |
There is no set deposit amount for trading in cryptocurrency pairs, but you can buy the Bitcoin with your bank card starting with at least 200 USD or AUD. The fee rates for takers and makers are fixed.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | Takers pay $5 for $1,000 transactions Makers pay $2.5 for $1,000 transactions |
Yes |
A comparison of the fees on TimeX and on other crypto exchanges demonstrates which platform offers the most favorable trading terms:
| Broker | Average commission | Level |
|---|---|---|
|
$3.8 | |
|
$6 | |
|
$0.1 |
Investment Options
The TimeX exchange specializes in providing services for active cryptocurrency trading. Also, it offers several investment solutions for earning passive income, namely algorithmic trading, staking, and referral programs.
How to earn money on TimeX without trading yourself
The first option is algorithmic trading. It’s performed by robots, i.e., programs that follow certain algorithms. The robots open and close transactions when assets reach certain prices without human participation. The programs are written in programming languages. If you don’t know them, you can buy and set up a ready-made robot.
The second way of passive earning on TimeX is getting income from staking the exchange’s service token, TIME. The essence of staking is that traders keep coins in their TimeX wallets and get up to 4.02% per annum for that. Interest rates depend on the amounts of the frozen TIME and the chosen lock-up period. You can also get free tokens by locking TIME in the TimeWarp smart contract. To do that, you need an e-wallet, which can interact with decentralized apps such as MetaMask.
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 the deal and all the steps from signing up to withdrawal of profits.
TimeX’s affiliate program
This is a referral program with rewards for bringing new clients. Referrers, i.e., those who share their link receive up to 80% of the trading fees charged from referrals, i.e., those who register on the exchange following the invitation link.
The TimeX exchange referral program has four levels. Referrers can get rewards for transactions made by referrals of all levels. Bonuses for the 1st and 2nd levels are determined by referrers themselves. The exchange pays them 7% of the fees charged from 3rd-level referrals and 3% of the fees charged from 4th-level referrals.
User Satisfaction