CITEX Exchange Review
CITEX is a centralized exchange that occupies #44 on Guru InvestingExchange Tracker. CITEX trading volume is US$2,488,805,893 in the last 24 hours and US$668,726,932,406 in the last 7 days.
Currently CITEX has 42 cryptocurrencies, 0 paper currencies and 41 markets (cryptocurrency trading pairs). The most popular trading pair on CITEX is BTC/USDT.
Compare SITEX next to other exchanges here: Exchange comparison tool.
CITEX Cryptocurrency Exchange was founded in 2018 with the goal of opening up a digital asset trading platform for a complete process of transfer, payment and transactions in legal currency. Although the platform is registered in the British Virgin Islands, its headquarters are in South Korea.
The platform is open to users from more than 100 countries, including Germany, France, the UK and others. However, some countries are prohibited from using the services offered by the CITEX crypto exchange due to restrictions on cryptocurrency and trading in those countries. Before registering on the platform, you are advised to check if your country is allowed on the platform.
Moreover, all potential users of the platform must undergo a KYC process.. This is to ensure that all its users are real and are not using the platform for criminal activities such as money laundering or terrorist financing. Users must register on the platform by providing their personal information such as email addresses and phone numbers; verify your physical addresses by uploading utility bills; and upload your government issued IDs.
Markets
The only supported fiat currency on the platform is South Korean won (KRW). In addition, there are More than 100 CITEX trading pairs available, the platform supports over 87 different cryptocurrencies. Major cryptocurrencies such as BTC, BCH, ETH, USDT and others are quite popular on the platform. Although it does not currently support leveraged trading or margin trading, users are provided with CITEX spot and futures trading options with which they can trade and make money. In addition, there are over 50 ETF trading pairs for more experienced traders. In terms of markets available for trading, the platform only supports BTC, ETHAnd USDT markets.
Although deposits on the platform are free, CITEX exchange fees apply for trading and withdrawals. Trading fees for both makers and takers are 0.2%. However, CITEX users are offered discounts on trading fees. Additionally, the withdrawal fee and minimum withdrawal amount depend on the cryptocurrency the user wants to withdraw. When trading futures, when closing futures positions, the price of the CITEX cryptocurrency is charged at a rate of 0.1%.
CITEX Token (CTT) is the platform’s own utility token. It is built on the ERC-20 token standard and is designed to enhance the value of its holders and users of the CITEX cryptocurrency exchange. CTT is used on the platform for various purposes and provides its owners with several benefits such as discounts on fees, 105% mining commission, daily dividends and community decision-making. Other benefits for token holders are under development. Check the current price of CITEX cryptocurrency Here.
other services
In addition to trading, the CITEX crypto exchange gives its users the opportunity to earn money in other ways. One of these means is betting functionwhere holders of various altcoins can stake on them and receive rewards.
Mining pool – another feature of the platform that allows users to earn additional income. While it is not possible to withdraw coins contributed to the mining pool, once they begin to generate income, they can be traded and deposited as normal. Withdrawals from pools are available two days after the end of each mining pool. For participation in the project, you can receive additional rewards by holding CTT, the token of your own platform.
Another feature offered by the CITEX crypto exchange is Trans-Fee Mining Mechanism. With this feature, users can mine tokens by paying a transaction fee. Miners are rewarded with 105% fee equivalent in CTT tokens. CITEX claims to overcome the problems inherent in traditional trans-fee mining with its innovative features such as one-click mining, 5% hourly income, high-frequency one-hour mining income, high collateral dividends and introduction of scientific hardcap for mining.
About company
CITEX, founded in October 2018, is centralized cryptocurrency exchange. The platform is based in South Korea and registered in the British Virgin Islands.
The identities of the main project team members are not publicly disclosed. They are not mentioned on the official website or on the company’s LinkedIn profile. However, Chelo Won’s Dream mentioned as CEO in the official document. He has over 21 years of experience in financial and securities management. Another team member William Wang although his position or role in the company is not specified. He is involved in investing in blockchain projects and has successfully invested in some stellar projects. Cha Seung Hoon is the Marketing Director of the CITEX trading platform.
Want to see real CITEX trading volume? Take a look at the CITEX volume chart above.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
