CITEX review 2023

As one of the most popular South Korean crypto exchange platforms, CITEX has gained a reputation for a fast sign-up process, reliable trading, and top-flight security. Find out everything you need to know about CITEX in the review below, including its unique features, security, fees and much more. 

What can I do with CITEX? 

Besides peer-to-peer crypto trading and exchanges, CITEX has also launched ETF trading and cloud mining of coins, among other features.

CITEX provides a user-friendly web trading platform as well as a mobile app available for both iOS and Android users. It puts traders first by offering an open, transparent platform and a 24/7 support team that is available to resolve any problem.

CITEX cryptocurrencies and trading options 

What cryptocurrencies can you trade on CITEX? 

CITEX allows you to trade 83 different cryptocurrencies and over 100 crypto pairs. Clients also have one fiat currency available – South Korea Won (KRW). 

Major cryptos traded on CITEX 

• BTC
• BCH 
• ETH 
• USDT 
• BLOC 
• DASH 
• BITC
• EOS 
• LTC 
• YEC
• VLS
• QWC
• ACM
• AXE
• ARRR
• NYZO
• MCM
• XCASH
• EPIC

CITEX core currency pairs 

• ETH/BTC 
• DASH/BTC 
• BCH/BTC 
• ETH/USDT 
• BCH/USDT 
• LTC/USDT 
• PAX/USDT
• LINK/USDT
• XMR/USDT
• DASH/ETH
• UFC/USDT
• TRB/USDT
• VEIL/ETH
• YEC/ETH
• SIN/ETH
• ZER/USDT
• DERO/USDT
• MCM/ETH
• CTT/ETH

All CITEX trading options 

CITEX provides over 80 cryptocurrencies, more than 100 popular and exotic crypto pairs, as well as over 50 ETFs to trade.

Can I trade with leverage on CITEX? 

No, CITEX doesn’t currently allow clients to trade using leverage. 

Trading with leverage is risky and should only be conducted by traders with at least some market experience.

What are the spreads? 

CITEX doesn’t charge spreads on its trades, but instead charges a flat 0.2% fee from both the buy and sell side on all transactions.

Fees, limits, and payment options on CITEX 

What are the deposit and withdrawal fees, limits, and speeds? 

To start trading with CITEX, you must first open a valid account. The only payment methods accepted for both deposits and withdrawals are cryptocurrencies and wire transfers. However, wire transfers must be denominated in South Korean Won. 

CITEX doesn’t charge any deposit fees and withdrawal fees are calculated based on the volume traded and the cryptocurrency you wish to withdraw. For instance, the minimum amount of ETH you can withdraw is 0.05, and you’ll have to pay a 0.005 ETH fee for every withdrawal. 

How much are CITEX’s fees and commissions? 

CITEX practices a common maker/trader fee policy and it is about the only type of fee you will have to pay to use the platform, apart from the withdrawal commissions. 

CITEX charges a 0.2% fee for all orders, both from makers and takers, and doesn’t base its commission on trading volumes or the type of cryptocurrency or ETF traded.

CITEX trade sizes and limits 

CITEX allows traders the minimum possible trade size, which is 0.01 lots.

CITEX trading platform 

What devices can I use CITEX on? 

CITEX offers a web trading platform and a mobile crypto app, which is available on both App Store (for iOS devices) and Google Play (for Android devices). 

• Web browser
• Tablets
• iOS Mobile Devices
• Android Mobile Devices

Can I use CITEX in my country? 

CITEX is available in over 150 countries and territories worldwide, including the United Kingdom, Virgin Islands, France, and Germany among many others. Select your country from the list below to see if it is available where you are. 

Is CITEX available in my language? 

Currently, the CITEX app is only available in traditional Chinese and simplified Chinese, Vietnamese, Korean, and English. 

How easy is it to use CITEX? 

CITEX is an all-in-one crypto exchange boasting a simple, user-friendly interface. It is designed to meet the requirements of beginner/intermediate traders and offers easy access to its main features for exchange and trading cryptos.

It can be used to trade over 80 cryptocurrencies and one fiat currency, as well as a range of ETFs. The mobile version keeps you updated on your active trades at all times and provides many of the same features as the web version along with bank quality security.

Key features 

CITEX claims to be “the world’s leading trustworthy crypto assets platform”, here are some of its key features:

Savings Rewards 

Earn weekly rewards for hosting a masternode, which is a server on a decentralized network. This contributes to the overall health of the blockchain you aim to support. While this does entail a sizable initial investment, CITEX helps you make this back by rewarding you in the cryptocurrency that you help facilitate transactions in.

Eco Incentives

This essentially means that for transaction fees generated by traders, CITEX will return to traders with a 105% equivalent of CTTs, which is “Transaction Fee mining”.

ETF Trading

Unlike many crypto exchanges and trading platforms, CITEX makes an array of ETFs available for trading, including both long and short leveraged ETFs on a variety of stock indexes.

Security and regulation 

Is CITEX safe? 

CITEX is credited as one of the safest crypto and exchange trading platforms in Asia, having earned multiple awards ever since the platform’s inception in 2011. It is considered to have a top-notch private banking security system to keep your personal data and assets safe at all times. 

Am I and my cryptocurrency protected? 

CITEX uses encryption and a series of PCI standard security protocols to ensure all transactions and wallets are secure. According to their website, assets are stored in a multi-signature cold wallet and can be deposited and withdrawn with an offline signature.

Is CITEX regulated? 

No, The company behind CITEX (Toptech Blockchain Co. Limited) is not regulated by any official governmental agency anywhere.

Do I have to verify my account with CITEX? 

Yes, CITEX runs a Know Your Customer (KYC) policy and requires verified information to allow live trades. Since it doesn’t offer a demo account, all trades must be registered and run through a verification process. 

Extra information 

Educational resources 

Outside of a help center and FAQ section, CITEX’s educational resources are non-existent and come up woefully short as compared to other crypto exchanges and even decentralized peer-to-peer platforms like its own.

Tools and charting 

Similar to its lack of educational resources, CITEX features limited trading and charting tools. Outside of a standard set of true range and other indicators and an API, which is designed more for professional or high-volume traders, there isn’t much to talk about. 

Having said that, the platform’s Mining Pool project is unique and could prove beneficial for those who want to learn more about the blockchain technology behind cryptos and how to mine their own coins.

Customer support 

According to their website, CITEX’s customer support team can be accessed 24/7 to answer your questions and assist where required. You can contact the customer team directly via email and you should expect an answer within 24 hours. In addition, Chinese and English customers also have dedicated Telegram accounts for additional support.

Our verdict 

CITEX is a popular peer-to-peer digital asset trading platform developed in South Korea that supports customers from over 100 countries. It specializes in crypto exchanges and trading, but also offers a growing selection of ETFs to trade as well.

The web trading platform is straightforward and easy-to-use, while the mobile app provides all the necessary features to ensure you can keep up with your trades and even open new ones, no matter where you are. 

CITEX scores better than other similar platforms in terms of fees and up-time/performance but the customer support options are limited and the educational resources are non-existent. Despite these glaring limitations, CITEX has some fairly unique features, such as cloud mining of coins and regular masternode hosting rewards. If you are really into all aspects of blockchain technology and crypto, CITEX may just be the platform for you.

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