| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 2017 |
| Head Office | St. Vincent and the Grenadines |
| Types of support | |
| Languages | English, Chinese, Korean, German, French, Ukrainian, et al. |
| Minimum deposit 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 / Equivalent of other cryptocurrencies Trade Commission: 0.2 % for maker / 0.2 % for taker For the internal token: 0.1 % for maker / 0.1 % for taker |
| Terminals | Author's platform |
| Age restrictions | From 18 years |
| Trading volume per day | 350 thousand. 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 |
| Order execution | Limit Orders, Market Execution (at market price) |
| Methods of replenishment | Bank card (Visa/MC), Cryptocurrencies, Advcash |
| Withdrawal methods | Cryptocurrencies |
| Account Currencies | Cryptocurrencies |
| Types of cryptocurrencies | Bitcoin, Ethereum, Litecoin, Tether, Ripple, Dashcoin, et al. |
| Mobile apps | 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 |
| Possibility to exchange 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 |
| Advanced AML verification | No |
| API | |
| Bonuses | 250 A2A Bonus tokens with promo code WELCOME |
| Affiliate Program | RegistrationRefunds of 25 to 40% on referral commissions |
| Advantages | 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 | 8.3/10 |
| Date of update | May 2, 2024 |
50x.com is this a scam? Review and Customers Reviews
Contents
50x.com is a company that names itself the cryptocurrency exchange of the 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 50x.com exchange. It is known the 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 was 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, and the name was changed to 50X. This was largely due to the emergence and growth of another exchange with a similar name, STEX. Positive reviews began to appear online, highlighting the advantages of the platform. Some of these advantages include:
- Fast deposits and payments. The exchange claims that all transactions go through its network of 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 and pass KYC and AML.
Special mention should be made of the security measures implemented on the platform. The crypto exchange uses three-factor authentication via Google Auth. That is, in addition to a password, users are required to set up additional protection for accessing their accounts and withdrawing funds. When logging in, users must enter a randomly generated verification code, as well as create a withdrawal request for crypto. This ensures that even if fraudsters gain access to a user’s account, they will not be able to withdraw funds.
Customers can set up a withdrawal delay, which allows them to track the balance and status of their account. This is useful if a hacker tries to transfer funds from the account, as the user can set a delay so that the money does not leave until 24 hours later. This ensures that the user will not wake up to an empty wallet, even if the account has been hacked. Also, on 50x.com customers can create a master key and emergency withdrawal wallet, which are helpful in case of an account compromise. By creating a list of third-party addresses, customers can ensure that their assets are safe even if they lose access to the exchange. Overall, these features help to protect customers from potential losses and provide them with peace of mind when using the exchange (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 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 a hedge fund. The service provided by 50X includes a system to track trades and distribute profits. The account manager works transparently – the crypto exchange shows his results to investors.
However, 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 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 unclear – what share is in the hands of developers, whether burning occurs, and 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, where you choose the necessary 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”. It is also 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 the market value is used, the price of the asset will be automatically inserted into the order, based on current market conditions. This can speed up the process, but it may not allow you to take advantage of the best prices offered by other participants. You can also set stop-loss and take-profit levels to ensure that you get the most out of your investment. These are the conditions for automatic execution of the order. The order will then be sent to the exchange or will be canceled if the quotes reach the specified value.
Verification on the 50x Platform
50x.com does not require any verification or passport data 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 be asked for verification.
Deposit and Withdrawal
You need to top up your account through the menu in the “Wallets” section. Alternatively, you can open this page by clicking on “Balances” in the header of the website. A list of all available cryptocurrencies will be displayed. Find the desired cryptocurrency and click the “Deposit” button. The exchange will automatically generate a crypto wallet address for you. You will need to transfer funds to this address from an external storage. If you’re using a mobile app, it’s even easier – simply scan the QR code to specify the amount in your app and send it.
Direct deposit in classic money is not available. However, 50x offers a payment gateway with an integrated exchanger. This can be accessed through the website menu. Customers can use their bank cards to purchase USDT tokens, which will then be transferred to their account on the exchange. AdvCash is the provider. Visa, Mastercard, MIR, and Advanced Cash wallets in dollars, and euros can be used. Cryptocurrency can also be withdrawn through the “Wallets” menu. To do so, simply select “Withdraw” from the list of coins. A form will then appear, where you must specify the following:
- Wallet address on the blockchain.
- The number of coins to be sent.
- Google Auth two-factor authentication code.
Customers should check a box and confirm that the address is entered correctly.
50x.com Crypto Exchange Commission
50X.com crypto exchange 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. For some unknown reason, you will have to pay 0.50% of the transaction. But for pairs with internal tokens 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 an internal A2A token. If you make an exchange with it, the commission is cut in half. Also, 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 interests. 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 some:
- 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 withdrawal fees at 50X.com are quite reasonable. Tether may be more expensive than some other options, but Bitcoin and Ethereum transfers can still be made 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, except for promo code bonuses.
Coupons
Use promo code WELCOME at registration and receive 250 bonus of A2A tokens.
Referral Program
Users can earn extra money in the 50×50 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 a few reviews on the Internet about 50x.com. The platform is new and has not yet had the 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.
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 50x Crypto Exchange
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 from 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 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 shared 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 issues.
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 about the lack of verification. This can be explained by the fact that the exchange generally supports anonymity and does not require customer identification.
Conclusion
The Any2Any technology behind 50X.com has the potential to revolutionize the way we perceive cryptocurrency trading. Quantum Core enables direct transactions between various assets, eliminating the need for third-party intermediaries. As a result, price and volume manipulation on major cryptocurrency exchanges are becoming increasingly difficult to conceal.
Some platforms use their tokens as a way to separate popular assets. When a client buys BTC using USDT, they are buying an obscure altcoin that is not well-known. This disrupts the free market and the fair prices of other assets, but it also benefits the owners of the tokens. Any2Any has the potential to be a leading trading platform if the team can attract more volume traders and increase liquidity. By doing so, they can create a more competitive and efficient market for traders.
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 is my exchange
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 00050x exchange of a 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, many tools for making money, including passive ones.
- Honesty
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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
Minuses- Low liquidity
- Not enough coins for trading
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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 000Technology exchangePositive
- While using the exchange, there were only advantages for me, the most important thing in the end is that you don’t have to worry about your account, and another plus for me personally is that the exchange provides the opportunity to become a co-owner
Minuses- The main disadvantage for traders is that there is little liquidity for traders, but since I am not a trader, this is not critical for me
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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- Unique, still greatly underestimated any2any technology, quantum core providing the most favorable conditions for order execution, PMA, pools, reliability... And much more!
Minuses- Catastrophic lack of awareness on the part of the crypto community.
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Rate your review 2+20
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Rate your review 3+30Having worked at 50x, you are unlikely to change it to another exchange
The best professional terminal for the trader.
Positive- Reliability and integrity
Minuses- Liquidity is still low
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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 assets traded
- A2A technology
Minuses- Daily turnover, but this is up to the traders themselves :)
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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 cons
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Rate your review 3+30Review of the 50X exchange 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. Lack of verifications. The A2A trading core is a cannon
Minuses- Low volumes
50x.com reviews
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- Not resolved0
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