Exceeded

Score

0123456789.01234567890123456789
/10

ZENEX

United States

|

Within 1 year

MSB License|

Suspicious Overrun|

High potential risk

https://www.zenexin.com/#/index

Website

Rating Index
Contact
ZENEX
support@zenexvip.com
https://www.zenexin.com/#/index
The WikiBit Score of this exchange is lowered because of too many unresolved complaints!
Influence
E

Licenses

FinCEN

FinCENExceeded

MSB License

WikiBit Risk Alerts

2
Previous Detection 2024-04-25

The number of the negative comments received by WikiBit have reached 10 for this Exchange in the past 3 months, please be aware of the risk and the potential scam!

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000250032057), please be aware of the risk!

Website

Genealogy

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Trade Type

Keywords

Time Machine

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Related Software

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New Arrival

Company Name
ZENEX
Regulatory Status
Exceeded
Company Abbreviation
ZENEX
Platform registered country and region
United States
Phone of the company
--
Exchange Name ZENEX
Registered Country/Area United States
Founded Year 2023
Regulation Regulated by FinCEN
Cryptocurrencies Available Bitcoin, Ethereum, Tezos, ZEN, YFI, XRP, and more
Trading Fees 0.04%-0.25%
Customer Support Email(support@zenexvip.com) and live chat

Overview of ZENEX

ZENEX, established in 2023 and based in the United States, offers a robust cryptocurrency trading platform regulated by FinCEN. With a wide range of available cryptocurrencies and trading assets including Bitcoin, Ethereum, and Tezos, ZENEX provides users with ample opportunities to diversify their portfolios.

While its fee structure may lack transparency, ZENEX boasts secure storage options and accessible customer support, enhancing the overall trading experience. As a regulated platform, ZENEX prioritizes compliance with financial regulations, instilling confidence in users.

Overview of ZENEX

Pros and Cons

Pros Cons
Regulated by the FinCEN Lack transparency in fees
Secure storage options Limited educational resources
Various cryptocurrencies available
Accessible customer support via email and live chat
Mobile app available

Pros:

  • Regulated by FinCEN: Being regulated by FinCEN instills confidence in users, ensuring compliance with financial regulations and enhancing the platform's credibility.

  • Secure Storage Options: ZENEX offers secure storage options, safeguarding users' digital assets from potential cyber threats and unauthorized access, providing peace of mind to traders.

  • Various Cryptocurrencies Available: ZENEX provides access to a wide range of cryptocurrencies, allowing users to diversify their portfolios and explore different investment opportunities according to their preferences and strategies.

  • Accessible Customer Support: The platform offers accessible customer support through various channels, including email and live chat, enabling users to receive assistance promptly and efficiently, enhancing the overall user experience.

  • Mobile App Available: ZENEX provides a mobile app, allowing users to trade cryptocurrencies conveniently on the go, providing flexibility and accessibility to users who prefer trading on mobile devices.

Cons:

  • Lack Transparency in Fees: ZENEX may lack transparency in its fee structure, which could lead to confusion among users regarding the costs associated with trading on the platform, potentially impacting their decision-making process.

  • Limited Educational Resources: The platform may offer limited educational resources, which could hinder users' understanding of cryptocurrency trading concepts and strategies, potentially limiting their ability to make informed investment decisions.

Regulatory Authority

Zenex, regulated by the FinCEN (Financial Crimes Enforcement Network), operates under an exclusive license within the United States, bearing the license number 31000250032057.

This regulatory oversight signifies a structured framework ensuring compliance with financial regulations, which can significantly impact traders on the platform. The assurance of regulation instills confidence among traders, offering a sense of security and legitimacy to their transactions.

Regulatory Authority

Security

ZENEX, as a trusted cryptocurrency platform, implements robust security measures to safeguard users' assets.

One of the key methods is secure storage, where the majority of digital assets are stored offline, reducing the risk of unauthorized access and potential cyber threats.

Additionally, ZENEX provides insurance coverage, including encryption insurance, to further enhance security. Moreover, all dollar cash balances held on the platform are insured by the Federal Deposit Insurance Corporation (FDIC), offering protection up to $250,000 per user.

These measures instill confidence among users by ensuring that their funds and assets are protected against various risks, including theft, hacking, and other security breaches.

Security

Cryptocurrencies Available

Zenex offers a wide range of cryptocurrencies for trading, including Bitcoin (BTC/USDT) and Ethereum (ETH/USDT), which are among the most traded pairs on the platform.

Other notable options include Tezos (XTZ/USDT) and Ethereum Classic (ETC/USDT), providing traders with various choices to diversify their portfolios.

Additionally, Zenex features altcoins like ZEN, YFI, and XRP, each offering unique trading opportunities.

Cryptocurrencies Available

Trading Market

Zenex offers a wide range of trading assets across three main categories: spot, perpetual, and delivery.

In the spot market, users can directly exchange cryptocurrencies. Notable assets available for spot trading include Bitcoin (BTC), Ethereum (ETH), Tezos (XTZ), and Ethereum Classic (ETC), each providing unique opportunities for traders. Additionally, Zenex features emerging assets such as ZEN, YFI, and XRP.

In the perpetual market, users can engage in derivative trading without an expiration date, allowing for continuous trading opportunities. Notable perpetual contracts include BTC/USDT, ETH/USDT, and XTZ/USDT, among others, providing flexibility for traders to speculate on price movements.

Furthermore, Zenex offers delivery contracts, allowing users to settle trades at a specified future date. Delivery contracts enable traders to hedge against future price fluctuations and manage risk effectively. These contracts include ZEN/USDT, YFI/USDT, and XRP/USDT, among others.

Name Price 24h Change 24h Volume
ZEN USDT Spot 14.3054 10.87% 1.731 M
ZEN USDT Perpetual 14.3054 10.87% 1.731 M
ZEN USDT Delivery 14.3054 10.87% 1.731 M
YFII USDT Spot 669.0644 -2.14% 4.247M
YFII USDT Perpetual 669.0644 -2.14% 4.247M

How to Buy Cryptos?

Step-by-Step Guide to Buying Cryptos on ZENEX:

Step 1: Sign Up: Create an account on the ZENEX platform by providing your email address and creating a password. Verify your email to activate your account.

Step 2: KYC Verification: Complete the Know Your Customer (KYC) verification process by providing necessary identification documents, such as a government-issued ID and proof of address.

Step 3: Deposit Funds: Deposit funds into your ZENEX account using supported payment methods, such as bank transfer or cryptocurrency deposit.

Step 4: Navigate to Trading: Once your account is funded, navigate to the trading section of the ZENEX platform.

Step 5: Choose Cryptocurrency Pair: Select the cryptocurrency pair you wish to trade, for example, BTC/USDT or ETH/USD.

Step 6: Place Order: Decide on the type of order you want to place (market order or limit order) and enter the amount of cryptocurrency you want to buy. Review the order details and confirm your purchase.

How to Buy Cryptos?

ZENEX Trading Fees

ZENEX Exchange charges trading fees for both spot and futures trading.

Spot trading fees are 0.25% for both buying and selling cryptocurrencies. Futures trading fees are lower, at 0.04% for opening and closing positions.

There are also withdrawal fees that vary depending on the cryptocurrency you are withdrawing. Deposits are free on ZENEX Exchange.

Trading Type Buy Sell Open Position Close Position Withdrawal Deposit
Spot Trading 0.25% 0.25% - - Depends on the currency Free
Futures Trading - - 0.04% 0.04% Depends on the currency Free

1 BTC, the trading fee is 0.25 BTC * 0.25% = 0.000625 BTC

Futures trading: Open 10 ETH contracts, the trading fee is 10 * 0.04% = 0.004 ETH

Services

Zenex offers several additional services to enhance user experience and provide opportunities for additional income.

Fund Management: Zenex's fund management service allows users to utilize idle digital currency to earn additional income. With various financing options ranging from 5 to 90 days, users can earn daily revenue based on their chosen investment duration and amount.

Services

Mine: The mining service provided by Zenex allows users to participate in mining activities, generating additional revenue by seizing new opportunities in the cryptocurrency market.

These services accommodates users looking to diversify their investment strategies and maximize their earning potential beyond traditional trading activities.

Services

ZENEX APP

The Zenex app offers various functions for cryptocurrency trading and management, providing users with a convenient platform to trade and track digital assets.

Users can manage their portfolios by buying and selling popular cryptocurrencies, all while monitoring their performance in one place. Additionally, the app enables recurring purchases, allowing users to invest slowly over time by scheduling daily, weekly, or monthly purchases.

For enhanced security, users can utilize the vault protection feature to safeguard their funds and delay withdrawals.

The app is available for download on both Android and iOS devices, enabling users to access the platform's technology excellence and maintain a competitive edge in the market.

ZENEX APP

Is ZENEX a Good Exchange for You?

ZENEX is the best exchange for intermediate traders due to its wide range of trading options, including spot, perpetual, and delivery contracts.

ZENEX is suitable for a wide range of target groups, making it suitable for various types of users:

  • Beginners: Novice traders who are new to cryptocurrency trading can find ZENEX suitable due to its user-friendly interface, educational resources, and simplified trading processes. The platform offers guidance and support to help beginners navigate the complexities of the cryptocurrency market.

  • Intermediate Traders: Users with some experience in cryptocurrency trading can benefit from the advanced features and tools offered by ZENEX. The platform provides access to a wide range of trading pairs, including spot, perpetual, and delivery contracts, allowing intermediate traders to diversify their portfolios and explore different trading strategies.

  • Investors: Long-term investors seeking to invest in cryptocurrencies as part of their investment portfolio can find ZENEX suitable due to its secure storage options, insurance coverage, and diverse range of investment products. The platform offers a variety of cryptocurrencies to choose from, allowing investors to build a diversified portfolio tailored to their investment goals and risk tolerance.

Customer Support

  • ZENEX provides customer support primarily through its customer service email address, support@zenexvip.com, and live chat feature.

  • Users can reach out to the support team via email for assistance with inquiries, account-related issues, or technical support. Additionally, the live chat feature offers real-time assistance, allowing users to receive immediate help and guidance from support agents.

FAQ

  • Q: What cryptocurrencies can I trade on ZENEX?

  • A: You can trade a variety of cryptocurrencies on ZENEX, including Bitcoin (BTC), Ethereum (ETH), Tezos (XTZ), and many more.

  • Q: Is ZENEX regulated?

  • A: Yes, ZENEX is regulated by FinCEN (Financial Crimes Enforcement Network), providing users with a regulated and compliant trading environment.

  • Q: How can I contact customer support on ZENEX?

  • A: You can contact ZENEX's customer support team via email or live chat for assistance with inquiries or account-related issues.

  • Q: When was ZENEX founded?

  • A: ZENEX was founded in 2019, establishing itself as a relatively new player in the cryptocurrency trading space.

  • Q: What is the registered country or area of ZENEX?

  • A: ZENEX is registered in the United States, operating within the regulatory framework established by US authorities.

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.