- The Zoomex crypto exchange offers a mix of centralized and decentralized trading features.
- The platform is regulatory compliant, one of the high points in this review.
Overview
Zoomex is a crypto exchange platform utilizing technology to provide secure, reliable, and transparent digital asset trading services to millions of users worldwide. Launched in 2021, with its headquarters positioned in Singapore, Zoomex facilitates trading of a wide variety of cryptocurrencies.
Some of the cryptocurrencies that can be purchased on the exchange include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and many more. This variety of cryptocurrencies on the platform, ensures users have different options to choose from. Zoomex caters to the preferences of its diverse user demographic by supporting multiple payment methods, such as bank transfers and credit cards,
Zoomex envisions a future where blockchain technology can illuminate public life and constantly increase the value of assets. To ensure a seamless trading experience for users, Zoomex focuses on providing high-quality online trading services built on security, innovative spirit, and trust.
Zoomex’s mission is tailored towards the user while it develops to become associated with top leaders in the crypto sector. Whether you are new or a professional in the crypto space, Zoomex has a comprehensive range of products and services to meet your needs. The platform has been built with an innovative spirit as seen in its contribution to leading development trends.
Also, users can trade independently by connecting their crypto wallet to the Zoomex decentralized exchange. Using privacy technology, Zoomex ensures transactions and user data are “untraceable”. Through Zoomex DEX smart contracts, users can engage in intermediary-free transactions.
Zoomex Interface
Upon launching Zoomex, what meets your eyes is a green and white text embedded on a black background. The platform has a drop-down tab, which helps the user to navigate across various sections. The platform’s top section displays a live, 24-hour price fluctuation chart for several cryptocurrencies and their trading pairs. Moving downwards, you would see different promotional offers for new and old users.
Products and Services
To satisfy the needs of crypto enthusiasts and traders, Zoomex offers a range of products and services. Products ordered on the platform include contract trading, copy trading, spot trading, trade arena, exchange, and capital boost. Services, on the other hand, include markets, rewards hub, referral program, affiliate program, and VIP club.
Contract Trading
The concept of contract trading in crypto involves a trader signing an agreement with a broker to purchase or sell a certain asset at a fixed cost and period. Traders speculate on the future price change of an asset, rather than holding the real asset.
The Zoomex exchange supports two types of perpetual contracts for trading; USDT perpetual and inverse perpetual contracts. BTC/USD, ETH/USD, XRP/USD, and EOS/USD are notable examples in the inverse perpetual contract category.
On the other hand, the USDT perpetual contract uses USDT as its margin, meaning all pairs in this category are tied to the stablecoin. BTC/USDT, ETH/USDT, XRP/USDT, WLD/USDT, NOT/USDT, and WIF/USDT are the common pairs in this category.
Spot Trading
Essentially, spot trading in crypto is the process of buying and selling digital currencies at their current market prices. Spot trading on Zoomex is pretty straightforward. Users can build their portfolios with a wide range of promising tokens to choose from on the platform.
Copy Trading
Zoomex has a copy trading feature that permits users to follow trading experts. With just a single click, users can increase their chances of profit by copying a professional trader’s methods. Currently, copy-trading on Zoomex only supports trading pairs of USDT-margined contracts.
Therefore, users are advised to ensure their copy-trading account has sufficient funds to place an order. Each trader can create up to 16 trading pairs at the same time, which can lead to about 200 followers.
To use the copy trading feature on Zoomex, a follower needs to transfer a deposit to the copy trading account. To do this, log into your account on Zoomex;
- Click “My band list” to enter the detail page.
- Click “View” to enter the trader’s details page.
- Click “Transfer of Funds” to transfer part/all of the assets in the contract account to the Follower Account.
- Enter the USDT amount you want, and click “Confirm.”
Boost Your Trading Capital with a Deposit
Another unique product offered on Zoomex is a feature that allows users to boost their trading capital with a deposit, offering users more trading possibilities. This product offers instant account credit, with low interest, and no collateral. Also, there is no need to complete a KYC form as approval is systematic, and funds are credited in one second.
Third-Party Payment Options
Zoomex has a wide range of channels for purchasing cryptocurrencies with fiat currency. Onramper is a third-party company that hosts and offers crypto-buying channels on Zoomex.
Onramper also offers multiple third-party payment options like Topper, MoonPay, Alchemy Pay, Simplex, Banxa, Guardarian, and Gatefi. Note that Zoomex disclaims all liability for any services rendered by outside vendors, including any monetary losses or other harm brought about by using their offerings.
Fees and Payments
Zoomex does not charge users any transaction fee. However, most service providers charge transaction fees for crypto purchases. The exchange currently supports 15 fiat currencies and 3 cryptocurrencies for payments. Supported fiat currencies include JPY, EUR, CAD, USD, NGN, HKD, TWD, VND, GBP, CHF, INR, MYR, TRY, RUB, and UAH. Cryptocurrencies supported include USDT, BTC, and ETH.
Zoomex Rewards
Zoomex has designated a Reward Hub where users can complete simple tasks to claim exclusive rewards. There are several rewards available to new users of the platform. The least reward available in the Hub is a $15 coupon, which can be claimed upon meeting a total contract trading volume of $30,000.
New users can also receive a $10 coupon in USDT when they complete a first-time deposit of at least $500 equivalent.
Zoomex bonuses can be used as a margin to cover trading losses and to offset trading fees for perpetual contracts before the user’s capital. While bonuses cannot be withdrawn, profits from trading with bonuses can be withdrawn. Similar to bonuses, Zoomex coupons can be used to offset trading fees for perpetual contracts.
The coupons and bonuses users claimed can be found in “My Rewards.” They can also view the balance of their bonuses in “My Assets.” The coupon/bonus amount is calculated based on the real-time exchange rate at the time of distribution.
Regulatory Compliance
Zoomex has pledged its commitment to the blockchain space by complying with regulatory standards. The platform currently holds a Canada MSB license and certificate from blockchain security auditor, Hacken. As a further commitment, the exchange has applied for additional licenses from various countries and organizations.
Achievements
Zoomex has recorded some achievements since it launched about three years ago. More than 2 million people from over 30 countries have registered on the platform. In addition, over 300 tokens are supported for perpetual contracts, and the total trading interface latency is less than 10ms.
How to Buy Crypto on Zoomex
Users can launch the Zoomex platform from their phone through the Mobile App available to Android or iOS users. Alternatively, they can log into the platform on their PC using the Zoomex website to buy crypto.
Here are four simple steps to begin your trading journey on Zoomex:
- Create an account by signing in with your email and password on the sign-up page.
- Once registration is successful, navigate to the ‘Buy Crypto’ tab on the Homepage, then click on Express.
- Select the type of fiat currency and cryptocurrency on the Buy Crypto Express page, then enter the amount of fiat currency you wish to pay. The corresponding amount of crypto you will receive will be displayed automatically upon entry of the fiat currency amount.
- Choose the corresponding payment channel by clicking on the respective payment channel. Here, you will see the exchange rate and channel information.
Note that the minimum deposit amount to deposit on Zoomex is 0.000015 BTC. Funds deposited below this amount will not be credited properly.
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