Tokenize Exchange Review 2023
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Tokenize has taken the crypto industry by storm by providing a unique mix of features that seem to be a viable package when put together. The trading platform offers twenty digital assets and over 45 trading pairs to choose from, some of the lowest trading fees on earth, SGD deposits through Xfers or bank transfers, interest on loans, customization, charts and analysis, financial advice, and way more.
So far, Tokenize is the go-to cryptocurrency exchange for more than 100,000 investors. Although none of its features is breaking new ground or innovating the game, Tokenize does provide a flavour like no other. What was that saying? It’s not how much we give but how much we put into giving.
About the Tokenize Trading Platform
Based in Singapore and launched in 2018, Tokenize is a digital currency exchange that caters to beginner traders with its interface and seamless navigation.
The user-friendly API provides users with everything that they need right at the tip of their fingertips, be it registering an account for the first time or connecting and validating a bank account. The platform encompasses crypto-to-crypto and fiat-to-crypto exchanges, as well as ICO tokens, such as the native Tokenize Emblem (TKX).
The crypto exchange has offers that are simply hard to beat when it comes to legitimate exchanges that administer Know Your Customer (KYC) tests and offer robust security.
How Does Tokenize Work?
The platform classifies its users in three different categories based on the amount of TKX one has in their account balance. Those that have a minimum amount of TKX, or less than 160 TKX, fall under the Basic division. Next up are the Premium users. They are situated between 160 and 800 TKX. Lastly, we have the Platinum users, a plateau reserved for those that have more than 800 TKX to their names.
Naturally, Premium users have higher ceilings on withdrawals and more favourable fees when making deposits. In fact, a lot of them enjoy no fees at all when depositing funds on the platform. There are also discounts that are usually set around 30%.
Bitcoin and Other Supported Cryptocurrencies
The platform lists 20 coins and 45 trading pairs on its Tokenize Exchange display. Users can engage and deal in currencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), Ethereum (ETH), SGD, USD etc.
Tokenize supports wire transfers on both deposits and withdrawals in US dollars as well as Singaporean dollars. Users can also choose to deploy their funds via debit or credit card at higher fees.
Should users choose Xfers, the deposit fees for SGD on a Normal tier account come at 0.55%, with a maximum deposit limit of $20,000. Bank deposit fees aren’t subjected to any fees on Premium tier accounts. The maximum deposit limit can span from $50,000.00 to $200,000, while the minimums are set at $10,000.
When it comes to its trading fees, the platform employs a fixed rate structure that doesn’t differentiate between makers and takers, as both are charged the same 0.25% flat trading fee.
Withdrawal fees at the Tokenize exchange platform follow a different model than trading fees and are calculated based on percentages. Users are subject to a 0.02 % withdrawal fee for any withdrawal that they make unless the 0.02% turns out to be lower than 0.0005 BTC. In that case, Tokenize charges a fixed fee of 0.0005 BTC.
Is Tokenize Safe to Use?
The platform’s security measures are well thought through from the ground up, so users can rest assured that they are getting the best possible protection against fraud, identity theft, scam and hacks cases.
Tokenize incorporates two-factor authentication (2FA), features an IP whitelist, multi-signature login and withdrawal authorization, complies with Anti-Money Laundering (AML) and Countering Terrorism Financing (CTF) regulations and administers regular Know Your Customer (KYC) tests on its accounts.
Customer support is usually where crypto exchanges cut corners and don’t devote as much attention to the sector. At least that was how it used to be before an avalanche of dissatisfied users started coming down on the industry as a whole about its lacklustre approach to customer support.
Luckily, Tokenize Exchange got things right from the get-go. The trading platform offers its users a wide array of support features and ways that they can get in contact. The most frequently used are the live chat bubble, the email service, social media and the dedicated phone line.
The crypto exchange provides an extensive knowledge library in the form of a FAQ section that covers everything from the most resilient and frequent tangle ups, to unique quarries that someone has had three years ago.
A Few Words Before You Go...
Even though Tokenize can be considered a newcomer, because it is a relatively new trading platform, it has caught the attention of many traders and institutions alike, by getting the basics right. From the native Tokenize wallet, the fiat currency support, to the simple registration process and some of the lowest deposit fees on the crypto market.
But the basics aren’t the only things that are covered. Users can choose to dabble into side quests in the form of referral programs and crypto loans that earn them interest. There are no two ways about it, Tokenize is a solid crypto exchange no matter how you slice it. If you aren’t a niche trader that needs 600 trading pairs, then, by all means, visit https://tokenize.exchange.
frequently asked questions
Tokenize Earn is a program through which users are able to earn interest on their stock assets by locking them up and making them available for at least a month. Once a user locks up their funds for a certain period of time they no longer have access to those digital assets until the due date is up.
Registering for a trading account is easy and straightforward. Users need to provide the platform with an active email address, come up with a password and verify their accounts by submitting a copy of their passport, national ID card, or driver’s license along with a document that verifies their resident address. This can be verified with any utility bill in their name. Upon providing the needed information, new users will receive a verification link, through which they will be able to activate their account, start trading and begin utilizing the rest of the platform’s features at full capacity.
Users can choose to deal in any of the supported 20 cryptocurrencies which include LTC, XRP. BTC, ETH, or opt for DeFi tokens the likes of AAVA, COMP, or Sushi. The candlestick charts make it easy to navigate through the platform’s journey, while TradingView makes sure that you have all the tools, meters and graphs you might need at just a tap.
The platform supports two different payment options. Users can choose to use either cryptocurrency transfers or wire transfers to deposit their assets into their balances. The platform has yet to incorporate debit or credit card purchases and deposits.
The most popular places where users are able to purchase TKX currencies are through Uniswap, as well as the Tokenize Xchange platform. However, there are other available options as well. If you’d like to dig deeper, you can always refer to a crypto exchange list such as the one at CoinMarketCap, where you will be able to see all the trading platforms along with their offers of supported digital assets at every given moment.