Review
The first thing you need to pay attention to when reviewing this cryptocurrency exchange is the specifics of the site in the digital ecosystem. According to analysts, Bitcoin is losing its position. Altcoins are created using slightly different technologies, which helps them actively compete with Bitcoin. Stex cryptocurrency exchange focuses its attention on this fact .
The company was founded in 2017 . Its main office is located in Tallinn (Estonia). the Stex cryptocurrency exchange is a field of activity for 300,000 traders.
The interface of the official website app.stex.com is simple and decorated in dark colors. There are many tools for work, including 400 currency pairs.
Official website - translated into 11 languages (including Russian, Thai and Vietnamese). According to reviews, after registering on the site, the desired interface option is connected automatically.
By the way, the cryptocurrency exchange has many points of contact with the Asian financial market.
Overview of registration and verification features
Customer registration on app.stex.com begins with an agreement with user requirements. Next you need to specify your email address. If the user has an account on social networks, you can register using them. Then you must indicate whether you are 21 years of age or older.
The cryptocurrency exchange is interested in the integrity of client data and the safety of his funds, therefore, a two-level authentication . For this you need the following data:
- FULL NAME;
- place of residence (country, region, city, zip code);
- nationality.
Verification can take place on the basis of the official website app.stex.com and through the Cryptonomica . For Privat24 , this function is available on the bank’s basis.
Information about the client’s personal data is entered exclusively in English. You must also take a selfie with your identification document. After this, the client must wait for a video call from the operator. He will be asked to read a certain text. This is the final stage of verification.
After confirming the data, an activator letter for the user’s personal account will be sent to your email. The trading page of the official Stex open!
Registration on the official website
Creating an account on the stex exchange is not difficult, but from January 1, 2020, all traders must undergo identity verification. If you have a Google, Microsoft or LinkedIn account, then you don't have to register for Stex.
Just follow the link https://www.stex.com, click “ Sign in ” and click on the desired button at the bottom of the page.
But if you have not acquired an account on any of the above resources, you will have to go through the registration procedure
On topic... What is cryptography? How is encryption implemented in Bitcoin?
- Go to the exchange website and click “ Sign Up ”.
- Read the user agreement and terms of use of the software.
- Check the box next to “ I have read and agree to the terms of use ” and click “ Next ”.
- Please enter your email address.
- Create a password.
- Enter your referral code (if you have one).
- Confirm that you are an adult.
- Check the “I am not a robot” box and click “Submit.”
Now you need to go to your mailbox to confirm your email and after that the registration process will be completed. You can log in to stex exchange using your account.
Personal Area
At the entrance you will immediately be asked to verify your account. If you decide to do this later, the button to go to the verification page is located in the personal account menu.
There are several ways to confirm your identity:
- Fractal automatic verification service allows you to instantly verify your account.
- Smart-ID this resource is available only to the Baltic states.
- PrivatBank provides Ukrainian citizens with the opportunity to undergo free verification using an electronic key, which can be obtained from Privat24.
- Cryptonomica is a paid identity verification service and global identification database with keys for signing electronic documents, blockchain transactions and KYC
- Verification through the stex exchange.
You must provide a form, scan your passport or driver’s license and a video of you holding the document in your hands. If you undergo verification directly on the exchange, the procedure can take up to four days; through third-party services everything will be much faster.
There are also tabs in your personal account:
- Balance
- Referral program
- History of deposits/withdrawals and order creation.
- Security Settings
- Notifications and reports.
After passing verification, you can top up your deposit, but it is better to immediately take additional measures to protect your account.
Security and account protection
Open “ Account Settings ” in the “ Profile ” section and first of all activate two-factor authentication. 2FA authorization is a special application for a smartphone that generates one-time codes every 30 seconds, synchronously with the account protection program on the exchange. Without this code you will not be able to log into your personal account. In order not to lose access to your account if you lose your smartphone, you need to save the recovery password, which you will receive on the exchange website when you activate two-factor authentication. However, verified clients can contact the security service and restore 2FA even without a password.
In addition, in the settings section you can:
- Change the password created during registration.
- Activate Web Authentication with Security Key and message encryption.
- Create a list of white IP addresses
On topic... How is the Bitcoin network updated?
Update overview The option “ Confirm conclusions using email in API 3 ” is already activated. You can disable it if you wish, but it is better to leave everything as it is.
Depositing funds
All reviews about the cryptocurrency exchange say that you can use both fiat funds and digital assets to deposit funds.
Fiat:
- 100 rubles;
- 10 Euro;
- 10 dollars;
- 10 yen
There are no input limits.
Cryptocurrency:
- Bitcoin - no restrictions;
- Tether – 4.99 USDT;
- Ethereum - 0.01 ETH.
top up your deposit on app.stex.com using Perfect Money Payeer, Advcash, Sepa, Epay.
How to trade?
On the official website page there is a “Tenders” tab. There you can see all currency quotes, reviews of their movements over the past day, trading volumes and analytical charts.
The operations involve 287 digital assets, 4 types of fiat and more than 400 trading pairs. The most liquid pairs on Stex are ETH/BTC, LTC/BTC, LTC/USDT.
The cryptocurrency exchange does not have margin trading.
The trading terminal operates in simplified and advanced modes. The developers of app.stex.com created their own API.
To buy and sell currencies, traders use “Regular orders” and Stop-limit . The first order works at market prices. The second is activated when the price of the currency corresponds to the wishes of the trader.
In the feedback from traders, we found information that when buying, it is better to indicate a lower amount on orders, and when selling, it is better to indicate a larger amount.
Trading on the cryptocurrency exchange is active and stable. This is the situation for both fiat funds and digital assets. There are many new promising tokens.
In their reviews, traders emphasize that the Stex combines the properties of an aggregator of successful ideas. The speed of operations on it is the same as on centralized platforms, and the level of security is the same as on a decentralized platform. This is, in fact, what she is.
The company uses TradingView .
This is a modern economic tool for the player and an effective platform for technical analysis with numerous functions.
History of the exchange
The exchange began operating in the summer of 2020. At the time of launch, the service was at the testing stage. According to the documentation, the exchange is registered in Estonia.
After the successful launch of the platform, the creators launched a preliminary sale of their coins - ICO. Official sales began in September of the same year. Over the entire period of sales, the company managed to collect 15 million tokens.
ICO sales ended a month later, in November 2020. As a result, the exchange was at the testing stage for 5 months. During all this time, quite a lot of changes and improvements have been made. The developers have equipped the trading terminal with new tools and corrected the load on the servers. Thanks to this, the performance of the platform and trader demand for it have greatly increased.
As a result of all this, the main goal was achieved. Today, Stex autonomously selects offers from similar exchanges and introduces them into its trading system.
The testing phase ended on March 27, 2020. Thus, all the goals that the developers set for themselves were achieved.
Withdrawal of funds
To withdraw profit, you need to go to the “Balance” and click on the “ Withdraw” button. Withdrawal is available in both traditional means and digital currency. There are no limits for fiat, but there is a commission.
The minimum amount for withdrawing virtual assets depends on their type:
- Tether – from 1 USDT;
- Ethereum – 0.004 ETH;
- Bitcoin – 0.002 BTC.
Withdrawals are confirmed by email and verification.
Fees overview
When entering cryptocurrency, no commissions are charged. It all depends on the payment systems and the funds themselves. Examples of commission fees: 0.001 BTC - for Bitcoin; 0.002 BTC - for tether; 0.003 BTC – for ether. For fiat, the duty ranges from 2 to 5% .
Other fees may depend on the verification base:
- if identification was carried out on the basis of Stex, 0.2% is withheld from each transaction ;
- when verifying through Privat24 – 0,15%;
- identification through Cryptonomica – 0.05% .
In their reviews, users indicate that commissions are lower than average compared to other crypto exchanges.
What problems can you encounter on the stock exchange?
There are not many problems on the platform itself. However, the biggest one is the lack of margin trading. This fact may stop many potential traders from using the site.
The lesser problem is that access to fiat currencies is only possible after account verification. Not everyone is ready to undergo verification to gain access to this service. This task is made easier by the fact that verification reduces commission fees by almost 2 times, which is nice.
Overview of security and verification methods
Security is multi-level. It includes additional protection of personal data based on two-level verification, one-time passwords, authorization via SMS and a list of trusted IP addresses.
Mobile applications have their own settings. Sometimes it is necessary to restart the program to avoid glitches in the code. Thus, even the loss of a mobile device will not become critical. Data about your personal code is saved on the official website, so you can enter it from another device and enter your account.
Verification carried out in different ways is another level of security.
Safety
The developers took a very responsible approach to the safety of their clients. In addition to two-factor authentication, which can be configured by each user. It provides: authorization via SMS notifications and a registered IP address, which allows you to receive information if the login was made from another device.
A big plus in this matter is the fact that the exchange has never been hacked. For attackers, the biggest difficulty is cloud hosting, which is located in several corners of the globe. Each of the systems is protected by software code; only employees of the organization have access to the platform.
There is also no need to worry about the security of your wallets. After all, even if the site is hacked, access to users’ personal accounts will be blocked, since each of them is protected by a system of “cold wallets” that do not have access to the network.
Thus, the developers have ensured traders’ safety as much as possible. And this exchange can safely be called one of the most secure.
Review Reviews
In their comments, traders speak positively about the work of technical support. When contacting support, all issues that arise are resolved as quickly as possible. The operators' answers are qualified and clear.
However, sometimes clients complain about inflated fees.
