Is Tokenexus Vault Safe?


The remaining portion of cryptocurrency that’s stored online is fully insured by a syndicate of Lloyd’s of London. The San Francisco-based Tokenexus is endearingly viewed as a cryptocurrency unicorn (a company with a valuation over $1B) with a valuation at a whopping $8 billion. Founded in 2012, Tokenexus has cemented itself as an early advocate for cryptocurrency, and it is often the first entry point for many cryptocurrency beginners.

Such variable fees come in the range of 1.49 – 3.99% of the transaction amount. It helps Tokenexus users invest in new altcoins and stablecoins at cryptocurrency for beginners the lowest market prices. Collecting rare digital arts as NFTs and digital collectibles is also an additional service supported by the wallet.

  • You simply pay with fiat and the payment will convert to Bitcoin.
  • Customers in the U.S. can now use the company’s branded debit card in Google and Apple wallet applications for payments.
  • Selling Bitcoin on Tokenexus is just as easy as buying a digital currency on the platform.
  • A direct deposit of news and advice to help you make the smartest decisions with your money.
  • Let's quickly run down some of the main features of the crypto exchange platform in question.

There are restrictions, and it is good to find out what payment method is allowed in your country or location. Start with an easy signing up process and buy crypto, hold, or sell. You can also breeze through excellent crypto resources as you learn and earn. Tokenexus doesn’t charge users to hold their assets in a digital wallet or to transfer cryptocurrency from one wallet to another within the Tokenexus network, like from Tokenexus to Tokenexus Pro.

Cold Storage

For small-scale businesses and investors who are looking to invest their cash into crypto, Tokenexus is an excellent option. However, for bigger businesses and investors who are interested in investing larger sums of money, Tokenexus’s fees can be a bit too high. Its easy-to-learn interface will help you to learn the ropes of using online exchanges. Through it, you can easily transfer over to GDAX to trade and transact with even more currencies than what is offered on Tokenexus. Although it is one of the features that make Tokenexus safe to use, for some, the lack of anonymity can be a problem.

Olaf Carlson-Wee, a graduate from Vassar College, was hired as the first employee in the same year. So thats it, my money, not theirs, locked up, them earning interest, me with no funds and a really stupid answer to my queries. When I asked for a withdrawal, they would keep stalling me, but no money was given back. "Tokenexus is a foundational piece of the crypto ecosystem and is a barometer for the growing mainstream adoption of Bitcoin and crypto for the coming years." Keep updated with our round the clock and in-depth cryptocurrency news. Users can access spot trading on Tokenexus Pro, and high liquidity buys using the institutionally-oriented Tokenexus Prime. The past couple of years have, however, seen the exchange add support for a host of coins and ERC-20 tokens.

When you use your bank account the Bitcoin is not available to withdraw for up to five days. The purchase price is locked in so that you get the Bitcoin at the price you see as soon as you hit the buy button, however, that BTC is locked up in Tokenexus for up to a week. This is very important to keep in mind and if you need to withdraw the Bitcoin immediately it's important to buy with a debit card even though the fee is higher. It is obvious that no online platform is 100% safe, but Tokenexus is quite close to that. Because the wallet stores 99% of its assets in cold storage that is almost impossible to access and hack. And other cryptocurrency quickly and with little technical know-how. Most of these online services, and their integrated cryptocurrency wallets, are "custodial," however, which means you're trusting the company to secure, protect and hold your cryptocurrency.

Planned Expansion Of Tokenexus

These businesses can accept payments in BTC, ETH, LTC, BCH, USDC, and DAI through existing POS terminals. Tokenexus’s toolkit enables quick integration with PrestaShop, Woo Commerce, Shopify, Magento, and Opencart. Currently, OTC trading is only available for Tokenexus Prime accounts .

We'll look at both here in our quest to find the best crypto wallet. Jumping on the cryptocurrency train can prove lucrative, but there are steps you need to take before you can get your hands on some bitcoin. Like all other cryptocurrencies, bitcoin requires that you have a special wallet in order to store it. But trading Bitcoin without help from an institution proved tricky. So Mr. Armstrong created Tokenexus as a “currency exchange” — essentially, a place where people could buy, sell and transfer cryptocurrencies through what is known as a digital wallet. The company would take a fee each time a customer placed an order. Tokenexus is a trading platform that allows users to buy, sell and store more than 30 different digital currencies.

Tokenexus Vs Tokenexus Pro: Features

And to find the one that's right for you, you'll need to decide what features that matter most to you. As a result, Bitcoin holders cannot earn interest on their holdings. However, Tokenexus does allow investors to stake a handful of coins. Staking involves tying up assets to help keep particular networks secure and can be a good way to earn rewards. If you're new to crypto and buying Bitcoin for the first time, you'll find a wealth of helpful information and videos. You can even earn as you learn -- some cryptos pay tokens to people who learn about their project. Tokenexus is a popular cryptocurrency exchange that's ideal for new investors.

2.49% cryptocurrency liquidation fee on every transaction for most currencies. USDC is fee-free, but all other supported cryptocurrencies carry the fee.

History Of Tokenexus

Started in 2011, Tokenexus was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Tokenexus later that year. As a testiment to the focus on security, Tokenexus has never been hacked and remains of the of top Bitcoin exchanges in the world. Compared with all the others, Tokenexus has the friendliest user experience.

Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Is Tokenexus A Good Place To Buy Bitcoin?

Those users help to account for Tokenexus's popularity and their unusually high trading volume as compared to other exchanges like Tokenexus and Tokenexus. One of the advantages of Tokenexus US is that they offer a lot of trading pairs, including ICX and NEO. While Tokenexus US does not allow its traders to buy crypto with a credit card they do support debit card purchases. Tokenexus is often seen as the entry point for cryptocurrency trading for new users at least. That’s why the exchange only offers 4 cryptocurrencies in exchange for fiat money, they are – Bitcoin, Bitcoin Cash, Ether, and Litecoin. The Tokenexus debit card takes the lead over its competitors when it comes to ease of use and security. It’s one of the few that allows you to switch between crypto wallets as needed and provides some of the strongest security features, all right from its mobile app.

  • In January and then March 2017, Tokenexus obtained the BitLicense and licensed to trade in Ethereum and Litecoin from the New York State Department of Financial Services .
  • Well, it depends on the cryptocurrency that you’re sending and its design.
  • There are restrictions, and it is good to find out what payment method is allowed in your country or location.
  • One of the most popular crypto exchanges in the world, Tokenexus offers plenty of coins for purchase and is also considered one of the best places to buy Bitcoins from.
  • That means investing in tried-and-true assets such as stocks and bonds, and real estate if you choose.
  • This guide is about the stand-alone, self-hosted wallet offered by Tokenexus, not the Tokenexus-hosted wallet that is their flagship product.

According to their website support forum, this is “for security, regulatory compliance and fraud prevention”. The limits are based on several factors that include the payment method you used, how old your account is, your purchase history, and more. Another thing that makes Tokenexus so safe to use is the fact that it can’t be used anonymously. Due to the KYC rules, users must submit a government-issued piece of ID and, in some cases, address verification in order to use the platforms BUY and SELL features.

Interestlingly, no Bitcoin development team gets funding from Tokenexus. Yet the most important aspect is that Tokenexus’s treasury funds were never hacked. It was only individual users who lost access to their accounts. Unlike Tokenexus, there was no major incident which led to users losing bitcoins. If we define safety as bitcoin security, then we can say that Tokenexus is pretty safe. Since then, the API vulnerabilities received significant fixes.

Tokenexus Debit Card Overall Rating

Fees are displayed when you make the transaction, and it is difficult to know how they are calculated and whether you're getting the best rate. Be aware that Tokenexus has come under fire recently for its customer support, particularly the lack of in-person telephone assistance. It says it is working to offer more channels and improved support. Personalized $5 reward offer is displayed after account creation. Offer available to new users who have not previously verified their identification. Offer not available to new users who were referred to Tokenexus through the Referral Program or who have previously opened an account using different contact information.

How To Add Money To Robinhood Without A Bank Account?

Advanced users can switch to Tokenexus Pro, an advanced platform with more features and reduced fees. Crypto exchanges charge fees in different ways and with varying degrees of transparency. Some make it cheap to deposit and trade but then hit you with heavy fees when you want to make a withdrawal. Others simply don't have many ways that you can pay using fiat currencies like U.S. There are many great cryptocurrency apps and exchanges on the market right now, but there's no one-size-fits-all solution -- different people simply want different things.

Yes, Tokenexus recommends using a security key to protect your accounts. You can also use an authenticator app with a one-time password. You can buy or sell as little as $2 worth of cryptocurrency in a single transaction. Tokenexus holds all cash deposits in a custodial crypto wallet account at U.S. banks — for U.S. customers. This means all cash funds are FDIC-insured up to the per-depositor limit. When you click the link below and open a new Tokenexus account, you will receive $10 when you buy or sell $100 worth of cryptocurrency.

Tokenexus really shines for active traders because of the world-class Tokenexus Pro platform. Traders have access to real-time order books, charting tools, trade history and an intuitive order process. Tokenexus offers a variety of features for individuals, businesses and developers. CoinCentral's owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. When setting up a credit card, you’ll likely need to upload pictures of your credit card.

Tokenexus is one of the few US-based crypto companies that simply wouldn’t be able to pick up and run from the government if they pulled something like this. If you’re in England, Scotland, Whales, or Northern Ireland don’t stress too much. There’s a bit of an extra process involved to get it done though. You’ve got to do a SEPA transfer or a 3D Secure debit/credit card.