| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social media | |
| Date of foundation | 2018 |
| Head Office | St. Vincent and the Grenadines |
| Types of support | |
| Languages | English, Chinese, Korean, German, French, Ukrainian, Russian, etc. |
| Minimum entry amount | Verified Cryptocurrency No limits Fiat Currency
Unverified Cryptocurrency No limits Fiat Currency
|
| Maximum input amount | Verified Cryptocurrency No limits Fiat Currency
Unverified Cryptocurrency No limits Fiat Currency
|
| Minimum withdrawal amount | Verified Cryptocurrency
Fiat Currency Unavailable Unverified Cryptocurrency
Fiat Currency Unavailable |
| Maximum withdrawal amount | Verified Cryptocurrency
Fiat Currency Unavailable Unverified Cryptocurrency
Fiat Currency Unavailable |
| Exchange Commission | Withdrawal fee: 0.00035 BTC / The equivalent of other cryptocurrencies Trade Commission: 0.2 % for maker / 0.2 % for taker For an internal token: 0.1 % for maker / 0.1 % for taker |
| Terminals | Author's platform |
| Age restrictions | From 18 years |
| Trading volume per day | 350,000. USD |
| Number of users | 3000+ |
| Number of trading instruments | 35+ |
| Margin Trading | Yes |
| Leverage | Until 1:300Depends on the pair traded and the type of margin |
| Tokenized assets | 50X, 50X100, A2A |
| Free Demo Account | No |
| Types of accounts | Standard, PMA |
| Execution of orders | Limit Orders, Market Execution |
| Methods of replenishment | Bank card (Visa/MC), Cryptocurrencies, Advcash |
| Withdrawal methods | Cryptocurrencies |
| Account currencies | Cryptocurrencies |
| Types of cryptocurrencies | Bitcoin, Ethereum, Litecoin, Tether, Ripple, Dashcoin, etc. |
| Mobile applications | No mobile apps available |
| Trader training | YouTube Channel |
| A way to store cryptocurrencies | Cold: yes Hot: no |
| Fiat accounts | No |
| Scalping | Yes |
| Stop Loss and Take Profit Function | Yes |
| Exchangeability for fiat currencies | No |
| Trading Strategies | All strategies for trading in the cryptocurrency markets are allowed |
| Additional features | Commission payment from internal tokens, distribution of commission among holders, referral program, master accounts, lending and crediting |
| Crypto loans | You can get a loan secured by crypto-assets. Collateral rate - from 30% and above |
| Basic verification | No |
| Extended AML verification | No |
| Regulatory laws | International data protection law FATF (Financial Action Task Force) |
| API | |
| Bonuses | |
| Affiliate Program | RegistrationRefunds of 25 to 40% on referral commissions |
| Benefits | Advantageous conditions for cooperation with the exchange Quantum trading core Any2Any and lack of verification Large number of supported pairs Profitable affiliate program Additional earnings on the landing page High level of security and fiat gateway Investing in managed master accounts Fast exchange rate on the main directions |
| Disadvantages | Slow transactions and delays in withdrawal Insufficient liquidity due to low transaction volume |
| Company requisites | Legal name: Smart Token Exchange LTD Legal address: St.Vincent and Grenadines |
| Overall assessment | 8.4/10 |
| Date of update | 12.02.2023 |
50x.com is this a scam? Reviews and description
Page content
50x.com - is a company that calls itself cryptocurrency exchange new generation. The developers claim that this is the world's first platform with a quantum trading core that allows trading any cryptocurrency directly. Whether this exchange can be trusted and whether 50x is a scam - we will answer in our review.
250 A2A bonus tokens by promo code WELCOME.
Why 50x?
There is almost no information about the creators and owners of the exchange 50x.com. It is known that the operating company is registered in the island state of St. Vincent and the Grenadines. Such offshore jurisdictions do not disclose founders and beneficiaries of legal entities and offer preferential tax terms. This includes cryptocurrency businesses. The company was established in 2017, and the exchange itself launched on October 25, 2018.
The beta version of the project was called STeX Exchange. Under this brand, the developers opened a discussion thread on the BitcoinTalk forum. In 2018, a rebranding was carried out. The name was changed to 50X, largely due to the emergence and growth of another exchange with the name STEX. Active involvement of Russian-speaking customers started in the summer of 2020. A YouTube channel was launched explaining the basic principles of the exchange. Reviews began to appear on the Internet. Among the advantages are:
- Fast deposits and payments. The exchange claims that all transactions go through its own nodes, which guarantees the speed of processing.
- Loans and earnings. Users can invest funds in lending and receive a percentage of profit for it. It is also possible to take out a loan in cryptocurrency without leaving the site.
- No verification. The system does not require customers to enter personal data, pass KYC and AML.
Special mention should be made of the security measures on the platform. Crypto exchange uses three-factor authentication through Google Auth. That is, in addition to the password, users set protection for the entrance to the account and for the withdrawal of funds. It is required to enter a randomly generated code when logging in, as well as creating a withdrawal request for cryptocurrency. This way, even if fraudsters get hold of a customer's account, they won't be able to cash it out.
Customers can set up a withdrawal delay. This allows you to track the balance and status of the account. For example, hackers hacked the profile and try to transfer BTC to their accounts. But the user has set a delay of 24 hours - the money will only leave after 24 hours. The client will not wake up with an empty wallet. Even if the account is hacked, he can cancel the hacked transaction. Also on the site 50x.com Master Key Setup and Emergency Withdrawal Wallets are available. Make a list of your third-party addresses in your profile. Now, if access to the exchange is lost, you can use your master key to withdraw your assets to a safe location (How to Make Money on Cryptocurrency?).
Any2Any
The main feature of 50X is the quantum trading core of Any2Any. This means that any cryptocurrency available on the platform can trade directly against any other altcoin. A classic exchange is built around one to two major currencies. On cryptocurrency exchanges, that's usually Bitcoin or Tether. Accordingly, all other altcoins are paired with the main currency. For example, ETH/BTC, BCH/USDT, XRP/BTC, DOGE/USDT and so on.
If the trader wants to trade another pair, for example, DOGE/XRP, then there is a problem of double exchange. That is, the platform will first translate Dogecoin into Bitcoin or USDT, and then calculate the resulting amount by the Ripple rate. DOGE/XRP quotes will be inaccurate. After all, they do not reflect the ratio of Dogecoin to Ripple, but Dogecoin to Bitcoin multiplied by the Bitcoin to Ripple rate. Some exchanges go even further. Within the DOGE/XRP pair, they can reconcile the rate first to BTC and then to USDT or even their own internal token.
This approach to exchange adds an extra element to the quotes, which can make the rate unprofitable. It's not interesting to those who make one or two exchanges a month. But large traders with volumes lose money. Any2Any solves the problem. Such a kernel automatically refers to all exchange stocks and doesn't pay attention to the order book. Instead, the algorithm evaluates transaction graphs and checks liquidity for both currencies from the pair. When it detects a DOGE/XRP exchange order, the kernel will place it in all Dogecoin and Ripple trading pools. The core can take the missing liquidity from other contracts, for example, XLM/BTC. In this way, the Quantum Core model guarantees fast transactions and the best rate for any pair.
Master Account
PMA Master Accounts is another product of the 50X Exchange. It allows experienced traders to take someone else's funds into circulation for trades. Profits from trades are distributed to investors, and the trader and the crypto exchange receive a commission. It is a scaled-down model of the hedge fund known on major forex platforms. The service provided by 50X includes a system to track trades and distribute profits. The account manager works transparently - the crypto exchange shows its results to investors.
But the trader can moderate the transaction log. For example, to hide some contracts revealing the essence of his exclusive strategy. Nevertheless, the administration of the exchange recommends managers to be as open as possible. PAMM-trader can not withdraw all funds from the master account. The system will transfer to it only a predetermined percentage of profits. The amount of remuneration of the manager is adjustable and can be up to 50%.
Internal tokens
The authors of 50x.com have prepared several internal tokens related to the exchange's revenues. Coin holders essentially become its shareholders and can receive a portion of the profits. There are three tokens in total:
- A2A. This coin can be deposited and used to get a discount on commissions.
- 50X. The platform distributes 80% of earned commissions to holders of these tokens. It is based on the ERC20 standard.
- 50X100. Related to the 50X token, but with the additional function of distributing the remaining 20%.
The administration has prescribed the distribution of 100% of the collected commission, net of transaction costs. Theoretically, this information can be verified through smart contracts, but no such studies have been published yet. In addition, the structure of the initial distribution of 50X and 50X100 tokens is not clear - what share is in the hands of developers, whether burning occurs, how often the stock is exchanged for third-party cryptocurrencies.
How to exchange cryptocurrency on the platform 50X Com?
To exchange and crypto trading at 50X, the user has to register on the site 50x.com and go to the "Trade terminal" section. On the right side of the screen there are two columns, here you have to choose the desired pair. In the center of the page you will see the price of the pair and its chart. On the left side there is a price chart with all bids and offers to buy and sell assets. For registration of the transaction it is necessary to create the order. This is done in the form under the chart. There are two tabs - "Buy" and "Sell". To the right it is possible to switch to the market or limit price. When you select a limit price, the user will indicate the price of the deal that suits him/her. The order is entered into the book. As soon as the algorithm finds a buyer, the order will be executed.
If market value is used, the price of the asset will automatically be entered into the order based on market conditions. This will speed up the exchange, but will not allow you to use the best prices of other participants. You can also set a stop loss and take profit in the order. These are the conditions for the automatic execution of the contract. The order will be sent to the exchange or, conversely, withdrawn if the quotes reach the selected value.
Verification on the 50ix platform
50x.com does not require any verification or passport information from clients. All the information requested from the client when registering is an email address. A confirmation code is sent to it. Later the system will ask to link your account to Google Auth, to improve security. This is the end of the platform's requirements. But some paperwork may be needed. The crypto exchange has the option to buy USDT with a bank card. A third-party provider, not 50X, is responsible for the transaction. The payment gateway will ask for card information and may also ask for verification.
Deposit and withdrawal
You need to replenish your account through the menu, the "Wallets" section. You can also open this page by clicking on "Balances" in the header of the site. A list of all available cryptocurrencies will appear. Find the desired coin and click on the "Deposit" icon. The exchange will automatically create a crypto wallet address. You need to send funds to it from a third-party storage. If you are using mobile application, it's easier to scan QR code. And already in your app, specify the amount of transaction and send.
Direct deposit in classic money is not possible. But 50x has a payment gateway with a built-in exchanger. It is available through the site menu. Here customers can use their bank card to buy USDT tokens. They will then be sent to the user's account on the exchange. The provider is AdvCash. You can use Visa and Mastercard, MIR and Advanced Cash wallet in rubles, dollars and euros, grivnas and tenge. You can also withdraw cryptocurrency in the menu "Wallets". Only in the list of coins you need to select "Withdraw". A form will appear in which you must specify:
- Wallet address on the blockchain.
- The number of coins to be sent.
- Google Auth two-factor authentication code.
Customers will also be required to check a box and confirm that the address is entered correctly.
50ix.com crypto exchange commission
Crypto exchange 50X.com charges a standard commission of 0.20%, regardless of the trader's position. Maker and taker pay the same. In total, more than 1,300 cryptocurrency pairs are represented on the platform and all trades are accompanied by the same commissions. Except for the BAEX direction. Here, for some unknown reason, you will have to pay 0.50% of the transaction. But for pairs with internal token A2A/BTC and A2A/ETH the cost of the service is reduced - 0.10%.
How do I get a discount on commissions?
50x.com has no loyalty program like most other crypto exchanges. You can save on commissions with internal A2A token. If you make an exchange with it, the commission is cut in half. Also with A2A is used to pay commissions. To do this, you need to place a balance in the token the day before the transaction. Then you can move on to the exchange for the pair of interest. Expenses will not be included in the order. Instead, the A2A balance will be deducted.
Withdrawal fees
Commissions depend on the cryptocurrency used. Here's the cost of withdrawal for popular destinations:
- Bitcoin: 0.00035 BTC.
- Ethereum: 0.00248 ETH.
- Ripple: 0.02 XRP.
- Bitcoin Cash: 0.001 BCH.
- Litecoin: 0.001 LTC.
- Dogecoin: 2 DOGE.
- Polkadot: 0.1 DOT.
- Tether: 16.65159 USDT.
In general, the cost of withdrawal at 50X.com is inexpensive. Tether is more expensive than competitors, but Bitcoin and Ethereum can be transferred at a profit.
50X bonuses
Cryptocurrency platform 50X does not use bonus programs and promotions to promote its services. Even internal tokens can only be obtained after an exchange. There are no airdrops or discounts, with the exception of promo code bonuses.
Coupons
Use promo code WELCOME at registration and receive 250 bonus A2A tokens.
Referral program
Users can earn extra money in the 50x50 bounty program. The invited participant receives from 25 to 40% of the commission from the trades of the invited trader. Another 25 percent can be earned if the registered friend himself attracts new users.
Complaints about 50x Com
There are few reviews on the Internet about working with the exchange 50x.com. The platform is new and has not yet had time to gather a large customer base. There was confusion: the beta version of the platform was called STEX. The same name is used for another crypto exchange. The main reason for traders' complaints is insufficient liquidity due to the low volume of transactions. Only $350,000 passes through the platform per day. In the official Telegram chat, as well as on BitcoinTalk, the developers said they would start investing in an advertising campaign to attract more traders. In the summer of 2020, things moved forward, Russian-speaking clients are picking up.
Also, some customers complain about high fees when recharging with a bank card. For small transactions they are as high as 15% of the recharge amount. But the transactions are not charged by the exchange, but by the intermediary. Users hope that the management of 50X will find a way to connect a cheap fiat gateway. Some of the positive reviews include:
- Fast exchange rate for the main directions - Bitcoin, Ethereum, Tether, Litecoin.
- The algorithm selects the lowest price when buying and the highest price when selling assets in orders.
- Generous two-stage referral program.
- No verification: no need to upload documents and enter passport data.
NewsBTC notes strict security measures on the platform. Users will have to connect double authentication and save master keys to restore wallets.
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Regulation of the crypto exchange 50Ix
The operating company is called Smart Token Exchange LTD. It is located on the islands of St. Vincent and the Grenadines, in the Caribbean Sea. This region is popular because it allows the beneficiaries to remain hidden to the public. Any legal disputes will be resolved in the same jurisdiction. But like most offshore jurisdictions, St. Vincent is under pressure from the European Union. Therefore, local companies comply with the laws related to financial crimes. Therefore, the service administration is committed to blocking suspicious transactions that they believe are related to money laundering or terrorist financing.
50x.com User Agreement
The User Agreement comes into force as soon as the client has registered on the site and confirmed the e-mail address. The text of the agreement is available in the "basement" of the site. The document clearly explains how the exchange interprets terminology. According to the document, customers are responsible for their own wallets. They must use authentication and strong passwords if they want to keep their funds safe. The company disclaims responsibility for the theft of cryptocurrency by third parties. At the same time, it undertakes to take all possible security measures.
Risks are also borne by customers. By opening a transaction, the user admits that he is taking a financial risk. In case of a technical error, it is necessary to immediately contact the support service. At the same time, the support team can refuse to solve the problem if it is caused by the actions of the client.
Customer Service
If traders have problems, they can contact support via email or the official chat in Telegram. Contacts:
- E-mail: [email protected]
- Telegram: @help_50x_russian.
- Twitter: 50x_com.
Is 50x.com a Scam?
50Х - is a young exchange with original functionality. But even now we can say that this is a quality project for experienced traders. The company is not noticed in any machinations, fraudulent schemes or deceiving customers. The small press, which the exchange has already managed to get, gives a positive assessment. In our opinion, 50x.com is not a scam. But it is still quite a raw product, with some technical flaws.
There is little liquidity on the exchange, which can make transactions slow. Withdrawals can also be delayed, especially when withdrawing unpopular altcoins. Users should prepare for this in advance. There are some concerns related to the developers' secrecy. This can be explained by the fact that the exchange generally supports anonymity and does not require customer identification. But the company must have a face for a better security rating.
Conclusion
The Any2Any technology behind 50X.com, is capable of changing the perception of cryptocurrency trading. Quantum Core generates direct transactions between different assets, without the use of third-party quotes. Price and volume manipulation are increasingly being detected on large cryptocurrency exchanges.
Some platforms use their own tokens as a spacer between popular assets. And by buying BTC for USDT, the client, unknowingly, first buys an obscure domestic altcoin. This kills the free market and fair prices, but enriches the owners of these tokens. So Any2Any, like similar technologies, has promise. If the team can attract more volume traders and raise liquidity, the exchange has the potential to become one of the leading trading platforms.
Reviews
- In ascending order of rating
- In descending order of rating
- New ones first
- First the old ones
- Popular ones first
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Rate your review 00050x-my birch
Cool new generation exchange, it has a future, a lot of cool chips.
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Rate your review 000
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Rate your review 000The 50x exchange of the new generation
Excellent exchange, the exchange of the new generation. Excellent support. The liquidity is a little small but it’s nothing, it’s a matter of time.
Positive- Reliability, honesty, a lot of tools for earning and for passive including.
- Integrity
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Rate your review 1+10Anonymity or liquidity?
I’ve been using this exchange for a long time, since its launch. I liked the fact that it is a unique exchange by triggering orders, very good and professional terminal for traders, in the plans to pay part of the profits of the exchange to holders of 50x coins, but this idea is far from being implemented… Read more
Positive- Anonymity, no KUS
- Trade any coin to any other coin
Minuses- Low liquidity
- Few coins for bidding
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Rate your review 1+1050x.com is reliable!
Reliable exchange. CEO is a competent expert in programming! You can always get his expert opinion on the issue / problem! Customer-oriented tech support not met! Unless the Tinkoff Bank, but this is about the other! They always reply very quickly! They are always quick to reply, they do it quickly… Read more
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Rate your review 1+10Positive
This is a great exchange. The first is the safety of funds! This is the best implementation. Set a delay in withdrawal from three days at least and for 2fa use the old a smartphone without internet and a SIM card. With this kit, no one will ever steal your money. There is no discrimination against Russians… Read more
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Rate your review 000Tech ExchangePositive
- During the use of exchanger for me were only pluses, the most important in the end is that you can not worry about your account, well, and another plus for me personally, the fact that the exchange provides an opportunity to become co-owner
Minuses- The main disadvantage for traders is that there is little liquidity for traders, but as I'm not a trader for me it is not critical
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Rate your review 000The most technologically advanced crypto exchange!
Everyone who understands and supports the principles of the creator of bitcoin, just have to read in detail this "Phenomenon" (50x.com)!
Positive- A unique, yet highly underestimated any2any technology, a quantum kernel providing the most favorable conditions of order execution, PMA, pools, reliability ... And much more!
Minuses- Catastrophic ignorance on the part of the cryptocommunity.
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Rate your review 2+20
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Rate your review 3+30After working at 50x it is unlikely to change it to another exchange
The best professional terminal for the trader.
Positive- Reliability and Integrity
Minuses- So far low liquidity
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Rate your review 3+30Great Exchange
At the moment, in my opinion, the best exchange for trading cryptoassets, because of the ease of use. Also a huge plus — anonymity (absence of KYC)
Positive- Ease of use
- Support Feedback
- Number of traded assets
- A2A technology
Minuses- Daily turnover, but that's up to the traders :)
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Rate your review 1+10Raw!!!
What a crude, super functional, used to sit on Binance. Poloniex sucks, not an exchange, yesterday’s day. It has a weak liquidity, but it’s only a matter of time. What exchange shares profits, NO ONE, but here, on 50x, please. I thank God that he brought me here on 50x.
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Rate your review 2+20Top Exchange
The best and most convenient exchanger…
Positive- Security Confidentiality
Minuses- No disadvantages
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Rate your review 3+30Feedback on the exchange 50X from a real veteran user
The most reliable and honest crypto exchange! Verified by personal experience (since October 2018). No verification, restrictions and blocking by nationality (flaming greetings to rotten Banana). Support is very responsive! No leaks to state agencies from 3 letters(and again hello to BANAN). Vicious… Read more
Positive- Anonymity. Protection. No verification. A2A trading core is a cannon.
Minuses- Low volumes
50x.com reviews
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- Not resolved0
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