NGOEX

Overview of NGOEX

NGOEX, a Chinese cryptocurrency exchange, was operational for 2-5 years before being listed on WikiBit's shutdown list due to regulatory concerns. Despite prioritizing security through advanced encryption and multi-factor authentication, its lack of regulation raises potential risks. Offering over 50 cryptocurrencies for trading, including Bitcoin, Ethereum, Tether, and Cardano, with prices ranging from $38,000 to $0.08, NGOEX has facilitated a total trading volume of $200 billion and a market capitalization of $1 trillion. To open an account, users complete KYC verification and set up security measures, with maker and taker fees varying based on trading volume. While NGOEX offers educational resources and tools for users, customer support primarily operates through Twitter (@ngoexcoin) and Facebook (https://www.facebook.com/ngo.ex.98).

Pros and cons

NGOEX presents notable advantages, including competitive fees for both makers (0.04%) and takers (0.10%) as well as fee-free cryptocurrency deposits. It enables fiat currency trading, offers diverse trading options, and allows for anonymous trading. However, there are drawbacks, such as the absence of regulation by any government or financial authority, withdrawal fees for most cryptocurrencies (except USDT), a limited selection of 50 cryptocurrencies, and comparatively lower recognition compared to more established exchanges.

Regulatory Authority

NGOEX, which is now listed on WikiBit's shut down list of exchanges due to its cessation of operations, lacks proper regulation, posing potential risks to users. It is crucial to exercise caution and be informed about the absence of valid regulatory oversight before engaging with this exchange.

Security

NGOEX prioritizes the security of its users' assets and implements various protection measures. The platform utilizes advanced encryption technology to safeguard sensitive data and transactions. This encryption ensures that user information is kept confidential and protects against unauthorized access.

NGOEX also employs multi-factor authentication (MFA) to provide an additional layer of security. MFA requires users to provide secondary authentication factors, such as a unique code sent to their mobile device, in addition to their login credentials. This helps prevent unauthorized access even if login credentials are compromised.

Furthermore, NGOEX implements strict security protocols and regularly updates its systems to address any potential vulnerabilities. The platform conducts regular security audits and assessments to identify and mitigate any potential risks.

While NGOEX takes significant measures to protect user assets, it is important for users to also take responsibility for their own security. Users should employ strong and unique passwords, enable MFA, and keep their account information confidential. Additionally, users should be cautious of phishing attempts and refrain from sharing personal or sensitive information with unknown or suspicious sources.

By following these security practices and utilizing the security measures provided by NGOEX, users can further enhance the protection of their assets and ensure a secure trading experience.

Cryptocurrencies Available

NGOEX offers over 50 different cryptocurrencies for trading. These include well-known cryptocurrencies such as

• Bitcoin (BTC)

• Ethereum (ETH)

• Tether (USDT)

• Binance Coin (BNB)

• USD Coin (USDC)

• XRP (XRP)

• Cardano (ADA)

• Solana (SOL)

• Terra (LUNA)

• Avalanche (AVAX)

• Dogecoin (DOGE)

Prices ranging from $38,000 (BTC) to $0.08 (DOGE). The total trading volume for all cryptocurrencies on NGOEX is $200 billion, and the total market capitalization is $1 trillion.

How to open an account？

To register on NGOEX, follow these six steps:

1. Visit the NGOEX website and click on the “Sign Up” button.

2. Provide your email address and create a strong password for your account.

3. Verify your email address by clicking on the link sent to your inbox.

4. Complete the KYC (Know Your Customer) verification process by providing your personal information and supporting documents such as identification and proof of address.

5. Set up any additional security measures, such as two-factor authentication, to secure your account.

6. Once the verification process is complete, you can start trading on NGOEX by depositing funds into your account.

Fees

The maker fee is 0.04% and the taker fee is 0.10% for the first 50 BTC of monthly trading volume.

Payment Methods

NGOEX does not charge any fees for depositing cryptocurrencies. However, there are withdrawal fees for all cryptocurrencies, except for Tether (USDT). The withdrawal fees are charged to cover the network fees associated with transferring cryptocurrencies from NGOEX to your external wallet. For example, the withdrawal fee for Bitcoin is 0.0005 BTC.

Educational Resources

NGOEX provides a range of educational resources and tools to help users enhance their understanding of virtual currency trading. These resources may include tutorials, guides, and articles that cover topics such as technical analysis, market trends, and risk management. The platform may also offer trading tools such as charts, indicators, and market analysis tools to assist users in making informed trading decisions. However, specific details about these educational resources and tools are not provided in the given information.

Customer Support

NGOEX offers customer support primarily through its social media platforms. You can reach out to them on Twitter via their handle @ngoexcoin and on Facebook through their page at https://www.facebook.com/ngo.ex.98 for assistance and inquiries.

Compare to Other similar Brokers

NGOEX offers around 50 cryptocurrencies with fees at Maker: 0.04% and Taker: 0.10%, accommodating amounts up to 100 BTC, and an account minimum of $10. In comparison, Binance provides access to over 500 cryptocurrencies with fees at Maker: 0.01% and Taker: 0.05%, while offering up to 100 BTC amounts and a similar account minimum of $10. Coinbase offers over 100 cryptocurrencies, with Maker: 0.04% and Taker: 0.04% fees, an account minimum of $25, but no promotions. Kraken lists 60+ cryptocurrencies, with higher fees at Maker: 0.16% and Taker: 0.26%, but no account minimum.

Is NGOEX a Good Exchange for You？

NGOEX can be suitable for a range of trading groups due to its various features and offerings. Here are some target groups that may find NGOEX beneficial, along with recommendations tailored to their needs:

1. Beginner Traders: NGOEX's user-friendly interface, educational resources, and access to a wide range of cryptocurrencies make it suitable for beginners. They can take advantage of the low trading fees, explore different cryptocurrencies, and utilize the educational materials to enhance their knowledge and trading skills.

Recommendation: Beginner traders can start by familiarizing themselves with the educational resources provided by NGOEX. They should focus on understanding the basics of cryptocurrency trading and risk management. Additionally, they may consider starting with small investments and gradually increasing their trading activities as they gain experience.

2. Experienced Traders: Experienced traders can benefit from NGOEX's extensive range of cryptocurrencies and low trading fees. They can leverage their knowledge and expertise to explore profit opportunities within the cryptocurrency market.

Recommendation: Experienced traders should make use of the advanced trading features and tools provided by NGOEX. They may employ technical analysis techniques, monitor market trends, and utilize charting tools to make informed trading decisions. Regularly staying updated with market news and analysis can also be beneficial.

3. Diversification Seekers: NGOEX's offering of over 50 cryptocurrencies provides diversification opportunities for traders who want to spread their investment across different assets. Diversification can help reduce risk by not relying on a single cryptocurrency.

Recommendation: Diversification seekers should research and analyze various cryptocurrencies available on NGOEX. They should consider factors such as market trends, historical performance, and future growth potential. It is important to carefully assess each cryptocurrency's fundamentals and evaluate their risk-reward ratio before making investment decisions.

4. Risk-Averse Traders: Traders who prioritize security and risk management may find NGOEX appealing due to its regulatory compliance and security measures. The platform's adherence to regulations and implementation of encryption and multi-factor authentication can provide peace of mind to risk-averse traders.

Conclusion

NGOEX, a cryptocurrency exchange registered in China, presents a mixed picture in terms of its features. On the positive side, the platform places emphasis on security, utilizing advanced encryption technology and multi-factor authentication to safeguard user data and prevent unauthorized access. Regular security audits are conducted to identify and address vulnerabilities. With a variety of over 50 cryptocurrencies available for trading, including prominent ones like Bitcoin, Ethereum, and Tether, NGOEX offers a wide range of options to traders. However, its lack of proper regulatory oversight is a significant concern, as evidenced by its inclusion in WikiBit's list of shut down exchanges due to operational cessation. Users should exercise caution and understand the risks associated with engaging in trading on an unregulated platform like NGOEX. The exchange provides steps for account registration, a fee structure, and various payment methods, but detailed information about its educational resources and tools is lacking. For customer support, NGOEX primarily relies on its social media presence via Twitter and Facebook.

FAQs

Q: What is the minimum deposit amount required to start trading on NGOEX？

A: The minimum deposit amount required to start trading on NGOEX may vary based on the cryptocurrency and payment method chosen. It is recommended to refer to the platform's deposit requirements or contact customer support for specific details.

Q: Are there any fees for cryptocurrency withdrawals on NGOEX？

A: NGOEX does not charge any withdrawal fees for cryptocurrency transactions. However, external fees may apply, depending on the blockchain network and the specific cryptocurrency being withdrawn.

Q: Can I trade cryptocurrencies on NGOEX using a mobile device？

A: Yes, NGOEX provides a mobile application that allows users to trade cryptocurrencies on their mobile devices. The mobile application offers a user-friendly interface and gives traders the flexibility to manage their accounts and execute trades on the go.

Q: Does NGOEX offer margin trading？

A: The given information does not mention whether NGOEX offers margin trading. Traders interested in margin trading should check the platform's website or contact customer support for detailed information on available trading options.

Q: Can I transfer funds directly from one NGOEX account to another？

A: The given information does not specify whether funds can be transferred directly between NGOEX accounts. Traders are advised to check the platform's user guide or contact customer support for information regarding account-to-account transfers.

Q: Does NGOEX offer an API for automated trading？

A: The given information does not mention whether NGOEX offers an API for automated trading. Traders interested in automated trading should refer to the platform's documentation or contact customer support for information on available API services.

Q: How long does it take for NGOEX to process cryptocurrency deposits？

A: The processing time for cryptocurrency deposits on NGOEX generally depends on network confirmations. It can vary from a few minutes to several hours, depending on the specific cryptocurrency and network congestion.

Q: Is there a limit on the maximum amount I can withdraw from my NGOEX account？

A: The given information does not provide details on withdrawal limits. Traders should consult NGOEX's withdrawal policies or contact customer support for information regarding maximum withdrawal limits.

Q: Does NGOEX offer customer support in multiple languages？

A: The given information does not specify whether NGOEX offers customer support in multiple languages. Traders requiring support in a specific language should check the platform's website or contact customer support for language availability.

User Review

User 1: I have been using NGOEX for a while now and I am quite impressed with their security features. They have strict regulations in place to ensure the safety of user funds and provide peace of mind. The interface is also user-friendly, making it easy to navigate and execute trades. The liquidity on the platform is decent, allowing for smooth transaction execution. However, I wish they had a larger selection of cryptocurrencies available for trading. Customer support has been responsive and helpful whenever I have had any inquiries. The trading fees are reasonable and transparent. Overall, I am satisfied with the privacy and data protection measures implemented by NGOEX.

User 2: NGOEX is my go-to crypto exchange due to its regulated nature. I appreciate their adherence to regulations, as it adds an extra layer of security to my trading activities. The interface is intuitive and beginner-friendly, allowing me to easily manage my trades. The liquidity on the platform is great, ensuring that my orders are executed promptly. They have a wide range of cryptocurrencies available for trading, giving me ample choices to diversify my portfolio. The customer support team is knowledgeable and friendly, always ready to assist me when needed. The trading fees are competitive and affordable. I have found their deposit and withdrawal speeds to be relatively fast, which is a plus for me. Overall, I have had a stable and pleasant experience trading on NGOEX.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.