DragonEX Crypto Exchange Review: It Is Good Or Bad?

DragonEX Crypto Exchange Review: It Is Good Or Bad?

About DragonEX Crypto Exchange

Launched on 2 November 2017 in Singapore, DragonEX Crypto Exchange is a cryptocurrency exchange with a cryptocurrency trading service license acquired in Estonia. They describes itself as a community-driven exchange with over 300,000 KYC-verified users and aims to become the best community exchange. As of Jun 2019, there are over 18 wechat communities, 8 QQ Communities, and 2 telegram communities for DragonEx. The focuses on the Asian market.

There are different levels of trading fees, usually 0.2% for taker and 0% for maker. DragonEx claims to be the first exchange that introduced the transaction mining model. The App is available in the App Store and Google Play. There are derivatives on including options, futures, and leveraged trading. KYC is mandatory for users trading, depositing, or withdrawing cryptos on DragonEx. For cybersecurity measures, It has reportedly been working with cybersecurity companies and performing internal audits at regular intervals.

DragonEX Crypto Exchange Basic Points

Exchange NameDragonEX Crypto Exchange
LanguageEnglish
Withdraw Fee0.001
Deposit FeesFree
Easy To Use Yes
Security High
Taker Fee0.20%
Maker Fee0.10%
Support24/7
Customer Support Available At Ticket & Live Chat
Official SiteHomepage

How To Start ?

How To Sign Up At DragonEX Crypto Exchange?

bitfinex sign up button

It Is Very Easy To Sign Up At Exchange . Just Click On Sign Up Button At Website .Fill Registration Form With Correct Details Like Your Email , Phone Number , Password Etc . Once You Fill All Data You Get Verification Link At Your Email . Just Verify Your Link For Successfully Verification.

How To Deposit Fund At DragonEX Crypto Exchange ?

Once your account has been verified, click on the ‘DEPOSIT’ button, which you’ll find at the top right-hand side of the screen. Choose which currency you want to deposit and then you will be provided with the Wallet details that you need to transfer the funds to .

How To Trade At Exchange ?

Once your account is funded, you can then begin day trading at Valr. Click on the ‘TRADING’ button at the top of the screen, and you will be taken to the main trading area. You now need to select the trading pair that you want to trade. Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade.

How To Withdraw At DragonEX Exchange ?

Withdrawing your funds from Swipe is very easy. Go to the “Withdraw” window, select the asset you want to take out and fill all the required fields. Note that you won’t be able to withdraw currencies if you haven’t secured your account with 2FA and/or whitelisted addresses.

DragonEX Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.

DragonEX Crypto Exchange trading fee for takers is 0.20%. Makers enjoy a discount on the trading fee and they trade for half the taker fee, so 0.10%. These fees are below, or in line with, the industry average which has historically been 0.25% but is now creeping towards 0.10%-0.15%.

For contracts trading, takers pay 0.10% and makers 0.03%.

2. Exchange

Except USDT/DC trading pair, will be collected according to the Maker-Taker, following:

Maker                                  0.1%                                                 
Taker 0.2% 

3. Leveraged Tokens

Maker                          0.05%                                  
Taker0.1% 
Management fee  0.05%/day, charged at 08:00 (UTC+8) every day 

4. Futures Fee

USDT Margin Currency:

Maker0.019%                                            
Taker0.05%
Settlement Rate       0.03%
Force liquidation Rate         0.05%

DT Margin Currency:

Maker0.019%                                            
Taker0.05%
Settlement Rate       0.03%
Force liquidation Rate         0.05%

DragonEX Withdrawal fees

What about withdrawal fees then? Withdrawal fees vary dependent upon which crypto asset you are withdrawing, but they are normally a fixed amout of the relevant crypto asset, and not percentage based as the trading fees.

DragonEx charges 0.001 BTC per BTC-withdrawal. This withdrawal fee is around 60% above industry average and thus not a very competitive fee. It is however not sufficiently high for us to recommend any prospective user to stay away from this exchange. 0.001 BTC per BTC-withdrawal is not a “crazy high” fee and it is not unreasonable to believe that the platform will lower it going further. 

Withdrawal:

Currency                 Transaction Fee                 Minimum Withdrawal                  
3BBEAR0.70.01
3BBULL0.10.01
ABBC300.01
ABT1001
ADA100.01
ADD30000.01
AE21
AGI200.01
AION20.01
ALGO60.01
ATD50000.01
ATOM0.20.01
BAT500.01
BCHABC0.0070.01
BEAM1.20.01
BFT15000.01
BLACK2000.01
BLZ3000.01
BNB0.050.01

Deposit Methods

If you need to deposit funds to your cryptocurrency exchange by use of your credit card, then this exchange is not the place for you. But don’t despair, there are many exchanges out there accepting fiat currency deposits through credit card payments.

Mobile Support

DragonEX Crypto Exchange trading platform is also available as a mobile application, for both iPhones and Android phones. So if you prefer to do your cryptocurrency trading on-the-go, that’s possible also with an account at this exchange.