TimeX offers Spot and OTC markets with access to 20+ digital assets. The exchange has partnered with BLOCKCHAIR, Brave, and TrailingCrypto to provide fast and decentralized trading services.
TimeX; An Introduction to the Exchange
TimeX, developed by Sydney blockchain company Chrono.tech, brings forward centralized and decentralized technologies for crypto enthusiasts.
The exchange is regulated by the Australian Transaction Reports and Analysis Centre. It has a team of 30 professionals and offers services across 62 countries. We must mention in this TimeX review that the platform operates within the Ethereum Plasma ecosystem. Key features of TimeX:
- Founded in 2019
- Licensed by AUSTRAC (License No. 100588407)
- 20+ digital assets
TimeX Exchange Specific Features
Timex has a daily trading volume of $21 million. Let’s take a brief look into the crypto exchange’s offerings.
Exchange | TimeX |
Launch Date | 2019 |
Levels | No |
Trading Fees | Taker 0.5% Maker 0.25% |
Restricted Countries | N/A |
Supported Coins | 20+ |
Futures Trading | No |
Minimum Deposit | $0 |
Deposit Methods | Bank Wire, ADVCash (Volet), Crypto |
Withdrawal Methods | Bank Wire, ADVCash (Volet), Crypto |
Maximum Leverage | 1:1 |
Minimum Trade Size | OTC Trading AUD 25,000 |
Security Factors | 2FA |
Services | Spot Trading, OTC Market, PAYMENTX (Automated cryptocurrency payroll solution) |
Customer Support Ways | Email, Telegram Channel |
Customer Support Hours | Response within 24 hours |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | TIME |
TimeX User Levels
The exchange doesn’t offer any user levels or the traditional fee discounts associated with these levels. This is a letdown in this TimeX review for high-volume traders who seek to maximize their profits.
TimeX Exchange Fees and Commissions
The platform charges gas fees for the execution of market orders and any contract calls, including allowance, wrap, withdraw, and transfer. However, the specific rates are only available for the Spot market.
- Taker Fee: 0.5%
- Maker Fee: 0.25%
Listed Cryptocurrencies
Limited digital asset coverage is one of the letdowns in this TimeX review. The platform only supports 20+ cryptocurrencies, including:
- TIME
- BTC
- ETH
- USDT
- SATA
- SLP
- LTC
- XRP
- LINK
- EOS
- AMPL
- SHPING
- SLP
- CGU
- QTC
- SMG
- KOKU
- FBX
- QMALL
- RSI
- DUDE
Does TimeX Offer Futures Trading?
The exchange does not offer futures trading or any form of leveraged trading. This decision aligns with the exchange's focus on providing a safer trading environment for its users.
TimeX's approach prioritizes spot trading, which enables users to buy and sell cryptocurrencies at their current market price, eliminating the added complexity and risk associated with futures contracts or leverage.
Account Opening and Verification
Opening an account on TimeX is a straightforward process designed to balance user convenience with regulatory requirements.
- Visit the TimeX website and click "Sign Up";
- Provide your email address and create a strong password;
- Verify your email address by clicking the link sent to your inbox or providing the OTC;
- Enable two-factor authentication (2FA) for added security;
- Complete the Know Your Customer (KYC) verification process:
- Level 1 (Up to 1 BTC daily): Email and phone verification
- Level 2 (Up to 5 BTC daily): Additional personal information
- Level 3 (Up to 10 BTC daily): Proof of residential address
- Level 4 (Up to 20 BTC daily): ID documents (passport or driving license)
Security Measures
As mentioned, TimeX operates as a non-custodial platform offering high security for client funds. However, to add an extra layer of protection to user accounts, the exchange supports Two-Factor Authentication (2FA).
Payment Options
The exchange accepts fiat and crypto transactions. It supports USD and AUD as fiat currencies. Available fiat methods on TimeX:
- Volet (formerly known as ADVCash)
- Bank Wire
At the time of writing this TimeX review, there are no minimum deposit or withdrawal limits.
User Experience
There are not many ratings on online platforms for the exchange. The TimeX Trustpilot profile features five reviews, all of which are 1-star, resulting in a poor 2.5 out of 5 score.
Investment and Growth Plans
TimeX does not offer specific investment or growth plans. It doesn’t support crypto staking features. Instead, the platform focuses on providing a secure and efficient spot trading environment.
Writer's Opinion and Conclusion
TimeX supports Cryptocurrency trading with AUD and USD fiat currencies, charging a 0.5% taker fee and a 0.25% maker fee. The exchange has a poor score of 2.5 out of 5 on Trustpilot.