|Date of foundation|
Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines
|Types of support|
|The owner of the company|
|Minimum entry amount|
|Maximum input amount|
|Minimum withdrawal amount|
|Maximum withdrawal amount|
Trade Commission: Until 0.2 % for taker / Until 0.1 % for maker
Withdrawal fee: Until 0.0005 BTC / Fixed Commission
From 18 years
|Trading volume per day|
|Number of cryptocurrencies|
2The list of available cryptocurrencies may be expanded
Up to 1:200Depends on the contract and type of transaction
|Free Demo Account|
|Types of accounts|
|Execution of orders|
Market Execution (at market price), Limit Order, Stop-Loss
|Methods of replenishment|
|Types of cryptocurrencies|
No mobile apps
FAQ section and demo account
|A way to store cryptocurrencies|
Trade from 1 min. to 30 min.
|Stop Loss and Take Profit Function|
|Exchangeability for fiat currencies|
Only through the intermediary service Copper
Demo account, decentralized accounts, Xena Barometer
|TradingView terminal features|
A lot of indicators, graphical elements, depth charts, order glass, etc.
|Extended AML verification|
Unnecessary KYC procedure, but allows you to expand your trading opportunities. Passport, selfies with document and documents confirming income and registration address are required
International data protection law
FATF (Financial Action Task Force)
Read moreA simple and effective way to integrate the client's trading application into the exchange platform
Good technical equipment of the platform
Availability of decentralized accounts, ensuring a high level of security
Expanded order submission options
Specification for experienced traders, fast deposits and payouts
High leverage and demo account
Access to trading without verification and fast processing of orders
Low liquidity and few assets
Legal name: Swiss Capital LTD
Legal address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines
|Date of update|
Xena Exchange is a scam? Reviews and description
- 1. Why Xena Exchange?
- 2. How to exchange cryptocurrency on the Zena Exchange platform?
- 3. Verification on xena.exchange platform
- 4. Deposit and withdrawal
- 5. Xena Exchange Bonuses
- 6. Complaints about Xena
- 7. Crypto exchange regulation
- 8. Xena Exchange is a scam?
- 9. Conclusion
- 10. Xena Exchange reviews
Xena Exchange - is a centralized cryptocurrency platform for private traders and institutional clients. The exchange offers spot trading and a derivatives market. Let's see if we can trust crypto exchange Xena and isn't this a scam?
Why Xena Exchange?
Xena Exchange was founded by Russian investment banker Anton Kravchenko. Information about the launch date varies: the official website indicates 2016, while press releases indicate 2017. Nevertheless, at the end of 2017, the site announced that it would participate in the launch of TON, a blockchain platform from Telegram. Telegram's blockchain never showed up, but Xena Exchange didn't stop developing. The company focused on cryptocurrencies and futures trading. Zena Escange positions itself as the first derivatives exchange with zero credit risk. The company's mission is to provide traders with a secure platform for transactions.
Xena Exchange is more focused on professional players. It provides an API, gives the ability to connect trading robots, AI-development, offers advanced trading orders. Perhaps the most important thing on the site is xena.exchange - derivatives. The company gives high liquidity for popular contracts and for its own, unique products. They are designed specifically for professional traders and come with an available leverage of 20x. The developers claim that such a contract cannot be manipulated because of the prescribed price range and internal restrictions. Other Xena products:
- Market Barometer. This tool analyzes the situation on the cryptocurrency market. It looks at market trends, trading volumes from major exchanges, public information from blockchains, news headlines and social media activity. The idea itself is not original - something similar can be seen on TradingView and Investing platforms. But the barometer from Zen is better designed and specialized for the crypto market.
- Decentralized accounts. dAccs is an algorithm for splitting client funds. The system creates a separate channel, multi-sig, used to deposit coins. The exchange can access the channel to cover margin calls, and the trader can withdraw funds to his personal wallet. The advantages of the approach is that the client does not have to deposit all funds into the exchange at the risk of losing them due to hacking or technical error. In fact, dAccs protect traders from fraud by the exchange itself.
Beginners can get acquainted with Xena with the help of a demo account. Demo allows you to open positions without making a deposit or using real money. Such a mode will help to understand the interface, charts and orders.
How to exchange cryptocurrency on the Zena Exchange platform?
There is no direct exchange on Xena Exchange. The client will not be able to enter, say, Litecoin and withdraw Stellar. This is a derivatives platform where customers profit from exchange rate fluctuations cryptocurrencies: Bitcoin or Etherium. Therefore, the exchange is either buying a BTC/USD contract or selling it. That is, speculation within one currency pair. Accordingly, on the site xena.exchange no simplified exchangers, all transactions take place through the trading terminal. It is available in the tab with the same name. Trading on Xena Exchange is possible only after registration. It's a quick process - you only need to enter your email address and confirm it by clicking the button in the email.
The Terminal section is in dark colors. On the left side you can select a trading pair of interest. Under it the details of the contract will be indicated. In the center there is a chart from the provider TradingView. Users can load indicators and models directly into the chart without using third-party software. To the right of the chart, users see the order book and a list of completed trades. Below is an order book with three tabs:
- Limit. By choosing this type of order, the trader calls the price himself. Then the exchange will look for bids from other users at that price. As soon as the second bidder is found, the contract will be executed.
- Market. Here the client does not need to enter a price - the algorithm itself will choose it from the order book. You only need to specify the number of assets to buy - coins or U.S. dollars.
- Stop. This is an extended order, where the client can specify additional conditions of the deal. For example, to automatically sell the contract when certain quotations are reached or vice versa, to submit an order to buy.
In addition, orders have additional settings that allow you to manage the volume of the contract and the time of execution. The form has an icon with the image of a calculator. By clicking on it, clients can calculate in advance the results of the deal at certain prices (How to make money on cryptocurrency?).
Verification on xena.exchange platform
Verification on Xena Exchange is optional, but it seriously expands the trader's possibilities. As soon as a person registers and confirms his email address, he is assigned the Not Verified status. Withdrawal of such client's assets is limited to 2 BTC per day. If large volumes are needed, it is recommended to confirm the identity before the Verified status.
To do this, go to the user account, find the Settings menu and open the Verification & Documents section. This will open a window with the questionnaire for verification:
- On the first page, choose your country of citizenship from the drop-down list.
- Below you must specify the type of document used for identification. It can be a passport, driver's license or ID-card, if you have one. Below the explanatory pictures there is a button to download the documentation. Select the file with the scan on your device, download and click Next.
- In the second step, the system will request a photo of the client. You must hold the same document that was uploaded in the previous step. The photo will be taken directly on the site, using the user's webcam.
If the client doesn't have a camera, he can transfer the verification process to his mobile device. To do this, you have to press the Continue on your phone button and then scan the QR-code that appears with your smartphone camera.
The application for identification is considered from a few hours to three business days. If it passes successfully, the user's daily limits will grow to 50 BTC. If this is not enough, you can expand the limits by passing the identification to the Advanced level. This is an individual procedure that requires a dialogue with support. The support team will want to know why the user has such big limits. Professional traders will have to tell about their activities, show the results of work on other platforms.
Deposit and withdrawal
Additions to the site xena.exchange is only possible in Bitcoin. To make a deposit, you need to go to the Account menu and open the Deposit section. The system will automatically create an individual address and QR code. To this address the client has to send funds from the storage where they are located. If a smartphone is used, it is possible to scan the QR code.
Some customers, such as legal entities, are legally allowed to use only fiat currencies. In this case, Xena recommends first converting fiat to crypto via Copper intermediary service and then depositing BTC to Xena Exchange balance. Such a transaction can be reflected in accounting documents. But direct deposit in fiat directly to the exchange is still impossible. To withdraw funds you have to go to the same section Account - Deposit and click on Withdraw. Withdrawal form will appear. Here you need to select an account, from which funds will be withdrawn. Below you should specify the address of departure, the amount of payment and the note on the transaction. Then press the Withdraw button.
Zena Crypto Exchange Commission
The commission on the Zena exchange depends on the type of transaction:
- Perpetual contracts are covered by a commission of 0.05% for the taker position and 0% for the maker.
- The basic rate for futures trading: 0.05% for tokers and 0% for makers.
- For the futures XBT/VAR_1M there is a commission of 0.2% taker and 0.1% maker.
- Commissions for XBT/VAT: 0.2% taker and 0.1% maker.
Deposits to BTC are free. But the exchange administration warns that the blockchain charges its own transaction fee. In addition, withdrawals from a third-party wallet may also be subject to fees. This is worth considering when planning a deposit to Xena Exchange.
How do I get a discount on commissions?
Unlike most crypto exchanges, Xena does not provide a discount on commission for increased trading volume. The administration reduces commission only for clients referred by a referral link. If a client followed a referral link and opened an account, he will get a 10% discount on commissions in the first 90 days from the moment of registration.
Zena Exchange charges a fee for withdrawals in Bitcoin. Each withdrawal transaction is charged at 0.0005 BTC. This value is an average for the market. There are many sites where Bitcoin payouts are cheaper. For example, at 50X a trader pays 0.00035 BTC per withdrawal. If we compare only the platforms focused on professional traders, Xena does not lose in terms of commissions. At Phemex clients also pay 0.0005 BTC from each withdrawal.
Xena Exchange Bonuses
This crypto-exchange rarely conducts marketing events and does not offer long-term bonus promotions. Clients can get commission discounts by registering with referral links or promo codes. That's where the bonuses end.
The Xena Exchange affiliate program provides for double compensation:
- An attracted new client receives a discount on commissions.
- The partner who attracts users receives a reward in BTC. The exact figure is not set - it depends on the trading volumes of the new trader.
Remuneration is not credited permanently, but only in the first 30 days of work of the attracted client. Any client of Zena Exchange can join "affiliate". To do this, you need to contact support and get a unique code and your own link.
Complaints about Xena
Given the narrow specialization of the products, it is not surprising that there are few reviews on the Internet from Xena Exchange users. But we still managed to find a few comments and gather a cross-section of opinions. Most traders speak positively about the platform. Among the advantages:
- High level of security, thanks to decentralized accounts.
- Access to trading without verification.
- Fast processing of orders.
- Fast deposits and payouts.
Among the negative reviews are the platform's low liquidity and the small number of assets. Traders like futures trading, but they would also like to see contracts not only for Bitcoin and Ethereum, but also for other cryptocurrencies.
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Crypto exchange regulation
For the first time after its creation, Xena was registered in the United Kingdom. The customer base was growing, and the requirements of the regulators were increasing. So the company moved to the convenient jurisdiction of St. Vincent and the Grenadines. The laws there are more relaxed and less demanding for both the company and its clients. For example, it is possible to trade without verification but with strict daily limits. The parent company is called Swiss Capital Ltd. This company is subject to the laws of Saint Vincent and the Grenadines. In addition, the firm is committed to complying with global standards to combat money laundering and illicit money trafficking. Swiss Capital Ltd has the right to block and freeze suspicious transactions and accounts. The company is obliged to provide information at the request of law enforcement agencies, tax authorities and financial regulators.
User Agreement xena.exchange
To create a Xena Exchange account, the user must read and agree to the user agreement. It is posted on the official website xena.exchange and offered when filling out the registration form. By agreeing to the document, the customer automatically acknowledges that he understands all the risks associated with cryptocurrency transactions and market trading. Users agree that the exchange does not act as a counterparty and that clients conduct all transactions on their own.
The management of the exchange admits that the platform may contain technical errors. This means that users accept the service "as is" and cannot make claims if they suffer losses due to these errors. Xena says in Section 11 that users are not guaranteed any results at all, i.e., profits. If a customer violates the agreement and the exchange suffers a loss because of it, customers are obligated to reimburse the company.
For example, if the user entered incorrect personal information in the verification process and used the account for large transactions. If Xena is fined by the regulators because of this, the customer has to pay the fine. Another obligation of the user is to independently determine his or her tax situation, declare and pay the required taxes. In case of violation of this rule, the platform can block the client's account.
The Xena Exchange Help Desk is available at [email protected] There is also a Support section on the site. There is a knowledge base with answers to the most common questions. About the affiliate program it is recommended to write to the e-mail address: [email protected] In addition, the site team maintains official pages on Twitter, Facebook and messenger Telegram.
Xena Exchange is a scam?
Cryptocurrency exchange Xena Exchange gives traders good trading conditions, a user-friendly interface and reliable accounts. Such advantages are enough to generate a daily trading volume of $50 million. This shows the trust of the users. Having collected and studied the information, legal documents of the platform and its services, we came to the conclusion that Xena Exchange is not a scam. It is a real existing business with official licenses.
The company appeared for a reason - it was actively invested in by venture capital funds, which always check the reliability of investments. The platform has an open management and clear development policy. Xena.exchange builds up its own community, works with the audience in social networks and with the media. The company receives positive feedback despite the fact that it operates in a difficult market.
Xena Exchange - an interesting project, but it is not for everyone. It is a professional platform, focused on experienced traders, financial institutions and investment funds. All products offered involve high risk. It is not enough to calculate the movement of the cryptocurrency rate - you also need to know how to work with leverage, collateral and expiry time.
So, if you need to exchange one cryptocurrency to another or to fiat, it is better to look for an exchanger or another exchange. But traders can test this platform. We recommend beginners to learn how to work with the terminal with a demo account first. And then you can try other functions from Xena Exchange.
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