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eToroX Review: A Top Cryptocurrency Exchange

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eToroX Review

eToroX is a digital assets exchange which features a cryptocurrency trading exchange as well as a crypto wallet. eToroX is created by the same group that operates the eToro forex and CFD social trading platform, but this Exchange is for trading, buying, selling and exchange of cryptocurrencies and blockchain-based/tokenized assets.

Regulation and Ownership

The crypto wallet and exchange services offered by eToroX (a company incorporated in Gibraltar and owned and operated by the eToro Group) are regulated by the Gibraltar Financial Services Commission. eToro X is a regulated DLT provider with licence number FSC1333B.

Fees

Two types of fees are incurred by eToroX users: exchange fees and wallet fees. Exchange fees relate to deposit/withdrawal transactions and charges on trading activity. eToroX does not charge for deposits. Trading fees are either maker (limit orders) or taker fees (market orders). Maker/taker fees are tiered and are adjusted by trading volume.

Monthly Volume

Maker fees

Taker fees

Tier-1
<$100,000

0.10%

0.24%

Tier-2
<$500,000

0.09%

0.22%

Tier-3
<$1,000,000

0.08%

0.20%

Tier-4
<$5,000,000

0.07%

0.17%

Tier-5
<$10,000,000

0.06%

0.15%

Tier-6
>$10M

0.03%

0.12%

Fees are charged on withdrawals. The withdrawal method determines how much is paid by the trader.

Wallet fees are fees paid for fiat-crypto conversions. eToroX charges 1% while exchange partner Simplex charges 4% of the total sum being converted. Crypto-crypto conversions are charged at 0.1%.

Exchange Assets

What are the crypto/blockchain assets that are traded on the eToroX exchange? There are 18 of such assets, featuring a mixture of cryptos and stablecoins that track several fiat currencies, silver and gold. These are

  1. XLM

  2. ETH

  3. LTC

  4. XRP

  5. BTC

  6. BCH

  7. USDEX

  8. SLVRX

  9. GBPX

  10. JPYX

  11. RUBX

  12. CNYX

  13. CADX

  14. EURX

  15. CHFX

  16. NZDX

  17. AUDX

  18. GOLDX

These are all combined into a number of pairs that can be traded on the exchange.

Account Opening and Verification

Account verification is compulsory. This consists of submitting a proof of identity document as well as a selfie photo of the account owner holding this document. The second requirement is submitting a proof of address such as a utility bill or bank statement.

A financial questionnaire with 9 questions is provided to determine the applicant’s suitability to operate a trading account on eToroX. Verification time is usually two working days.

Customer Support

This is provided using a variety of channels

Pros

  • Speedy trade execution.

  • Addition of stablecoins provides a refreshing mix of asset pairs to trade.

  • Suitable for beginners and intermediate traders.

Cons

  • None

Final Summary

Coming from the stable of eToro Group, eToroX already has a high standard that has been set for it to attain. The exchange is coming a little late into an increasingly crowded space but may find some joy from referring existing eToro clientele to the new crypto exchange.

Some improvement needs to be made to its user interface to make navigation and trading easier.

The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.

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12 Peers Capital Markets Purchases DigitalBits XDB Token

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12 Peers Capital Markets , a broker-dealer and capital markets firm has announced its support for DigitalBits, a blockchain protocol focused on consumer digital assets such as loyalty points, rewards, and branded stablecoins.  The traditional market brokerage firm has purchased the DigitalBits XDB token, after recently announcing “a new found investment thesis focused on identifying blockchain projects that improve efficiencies across global markets,” it said in today’s announcement.

DigitalBits is an enterprise-grade blockchain protocol for supporting consumer digital assets, specifically branded currencies.  The company believes that branded currencies play an integral role in driving consumer behavior, but many of these programs are dated by today’s technological standards.  “These limitations have stifled value transfer, resulting in the accumulation of large amounts of idle capital – in 2017 US corporations held in excess of $100 billion in unused points liability,” the DigitalBits experts explain.  

The DigitalBits blockchain supports tokenization of existing and new consumer digital assets.  The XDB Foundation, which was formed earlier this year, is a neutral agnostic non-profit organization to enhance the DigitalBits blockchain and ecosystem, engage partnerships and building a robust ecosystem for users. Commenting on the 12 Peers Capital Market announcement, XDB Foundation’s Managing Director Michael Gord said that it is great to see traditional firms show interest in blockchain technology. …

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Manufacturing Blockchain Company Syncfab Featured in NASDAQ Entrepreneurial Center’s Event in Times Square

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The NASDAQ Entrepreneurial Center hand-picked several advanced projects and companies to provide individualized mentorship and executive coaching in an effort to support tech startups working on various COVID-19 solutions. As part of the program, the NASDAQ Tower in Times Square broadcasted its Milestone Makers COVID-19 Solutions Cohort live last Wednesday.  

Time-tested communications and manufacturing supply chains have been significantly damaged this year due to the pandemic. This is why manufacturing blockchain company SyncFab was one of the headliners at the conference. Supply chains have become all but non-responsive, and innovative solutions are being prioritized.

SyncFab has built and launched an advanced blockchain platform for supporting smart supply chains and allowing users to source, procure, track, secure, and pay for precision spare parts. Led by Forbes Business Council Member Jeremy Goodwin, SyncFab brings real-time capacity savings opportunities alongside addressing the billion-dollar pain points in manufacturing supply chains. It connects automotive, aerospace, and medical manufacturers with more cost-effective suppliers using blockchain-secured transactions.

“In 2020 the time has finally arrived for industry to jettison the limitations of old-fashioned manual procurement processes,” said SyncFab CEO Jeremy Goodwin in his presentation during the conference. He added that “looking forward, we [SyncFab] will expand supplier coverage, add new supplier response incentive and purchase order programs, and continue to innovate post-procurement blockchain traceability features” to meet shifting needs in the industry.

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AllianceBlock & TTC join forces to build a globally compliant digital asset ecosystem in the Philippines

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AllianceBlock will work in tandem with TopJuan Tech Corporation to launch “a globally compliant digital asset  ecosystem in the Philippines,” the two companies announced in a press release. AllianceBlock is planning to launch a decentralized platform to automate the process of turning any digital asset into bankable security via an internationally recognized Individual Securities Identification Number (ISIN).

AllianceBlock

TTC stands for TopJuan Tech Corporation, a financial technology company endorsed by the Central Bank of the Philippines (BSP) to incorporate as an E-money provider, remittance agent, and a virtual currency platform operator. TTC is an institutional gateway for digital banking and solutions for financial inclusion services. The TTC mobile app, Top Wallet, functions as a payment solution, digital asset wallet, and a partner gateway to the TTC ecosystem.

AllianceBlock and TTC hope to provide fully compliant digital asset access to the 106+ million people who live in the Philippines.  One of the pillars of the  partnership is “the development of a regulated sandbox in the Philippines to facilitate the creation of a range of compliant crypto structured products,” the companies said.

“Our partnership will allow regulated access to the Philippines for AllianceBlock to fulfill the growing demand for access to compliant digital asset investments in the Philippines through the AllianceBlock…

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Press Release