VinDAX offers 680+ cryptocurrencies in 4 markets, including VD, USDT, ETH, and BTC. Trading fees range from 0.07% to 0.10%, except for the VD market fees, which range from 0.05% to 0.08%. The exchange requires no minimum deposit. However, the minimum trade size is $30.
VinDAX; The Exchange Background
VinDAX has been live since March 2019. It provides seamless cryptocurrency trading across desktop, iOS, and Android platforms. VinDAX key features:
- VD, USDT, ETH, and BTC markets
- Established in Vietnam
- Founded by Nam Nguyen
VinDAX Specifications
To give you a clearer picture of VinDAX's offerings, let's break down its key specifications and see if it has what it takes to be one of the crypto exchanges.
Exchange | VinDAX |
Launch Date | 2019 |
Levels | 4 Levels |
Trading Fees | 0.07% - 0.10% |
Restricted Countries | N/A |
Supported Coins | 680+ |
Futures Trading | No |
Minimum Deposit | None |
Deposit Methods | Crypto |
Withdrawal Methods | Crypto |
Maximum Leverage | 1:1 |
Minimum Trade Size | $30 |
Security Factors | 2FA, Anti-Phishing Code, Whitelist |
Services | API service, Savings, Token Listing, VinDAX Chain, OTC Market, CEX |
Customer Support Ways | Live Chat, Telegram Group |
Customer Support Hours | 24/7 |
Fiat Deposit | No |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | VinDAX Coin (VD) |
Does VinDAX Offer User Levels?
In this VinDAX review, we must mention that the platform offers fee discounts based on VD token holdings in a tiered user level structure.
User Level | VD Holdings |
General | >= 0 |
1 | >= 50,000 |
2 | >= 100,000 |
3 | >= 200,000 |
VinDAX Fees and Commissions
The exchange’s default trading fee is 0.10% for makers and takers, except for the VD market, which incurs a 0.08% fee. However, you can reduce the commissions by holding the platform’s native token, VinDAX Coin (VD).
User Level | VD Market | Other Markets |
General | 0.08% | 0.10% |
1 | 0.07% | 0.09% |
2 | 0.06% | 0.08% |
3 | 0.05% | 0.07% |
Available Digital Assets on VinDAX Exchange
The platform offers diverse digital assets and 1061 trading pairs in 4 markets: VD, USDT, ETH, and BTC. The most popular cryptocurrencies available on VinDAX:
- BCH
- DASH
- GMAC
- BNB
- DOGE
- LTC
- XLM
- XRP
- NEO
- ONG
- ZEC
- SOL
VinDAX Leveraged Trading
One of the biggest letdowns in this VinDAX review is the lack of leveraged trading options. The exchange does not offer Futures or Margin trading services, and its main focus is on Spot trading and the OTC market.
VinDAX Exchange Account Opening and KYC
To open an account on VinDAX, you must be at least 18 years old and complete the KYC procedure.
- Visit the exchange’s official website;
- Click “Register”;
- Fill out the registration form;
- Login to your client area and enable Google Authenticator;
- Click “Unverified” next to the profile picture;
- Choose the Personal ID Verification type;
- Fill in the personal information form;
- Upload proof of ID (passport and selfie with a handwritten note).
VinDAX Application Download
The exchange offers a mobile app for iOS and Android devices, a desktop version, and a WebTrader, allowing users to trade on the go.
- VinDAX Android
- VinDAX iOS: Use Cydia Impactor to install the application
VinDAX Exchange Security Measures
According to The Block, VinDAX experienced a security breach in November 2019, resulting in a loss of approximately $500,000 in crypto funds.
The track record of security breaches, in addition to the lack of an ongoing bug bounty program and proof of reserves audit, are disappointing aspects of this VinDAX review.
However, the exchange has implemented several security factors to safeguard clients’ accounts, including:
- 2FA
- Anti-Phishing Code
- Whitelist
Deposit and Withdrawal Methods
VinDAX doesn’t support fiat payments. The only option for funding and withdrawing from accounts is a crypto transaction. While crypto deposits are free of charge, withdrawal commissions vary based on the asset. Key points about VinDAX payments:
- No minimum deposit required
- Minimum trade size: $30
VinDAX User Satisfaction
The platform has performed poorly in the eyes of both users and experts. 78% of VinDAX reviews on TrustPilot are negative (1-star and 2-star).
2.3 out of 5 based on 50 comments | |
CoinGecko | 4 out of 10 |
Only 16% of comments on the exchange’s TP profile are positive (5-star). However, VinDAX hasn’t replied to any of the negative reviews.
Writer's opinion and conclusion
VinDAX provides access to 1061 crypto trading pairs with a 1:1 leverage option. The exchange doesn’t accept fiat payments and it supports crypto deposits with no transaction costs. The platform has a TrustPilot score of 2.3 out of 5.