Atomic Asset Exchange (Aax.com ) Exchange was launched in November 2019 and may be a relative newcomer to the cryptocurrency exchange scene. The Exchange is predicated in Hong Kong and spent over 19 months in development and testing before launch. AAX offers spot trading also as derivatives products. during this review we take a glance at the key features of AAX Exchange and a tutorial on the way to start .
Aax Exchange main point is it the primary cryptocurrency exchange which utilises the London stock market (LSE)’s Millennium Exchange matching engine. an identical engine is an electronic system which matches buy and sell orders on the exchange, thus enabling traders to trade.
Aax.com employed by the LSE and therefore the stock market in Italy etc., the Millennium Exchange engine has recorded the fastest trade speeds within the world. And at AAX, they need recorded latencies as low as 90 seconds and orders being processed in under 800 microseconds. Thus putting AAX on par with traditional stock markets.
|Maker Fee||0.02% /|
|Taker Fee||0.016% / 0.016%|
How To Start With Aax.com
To Start Trading With Aax.com Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Aax.com Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Aax.com Account.
AAX Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.
This exchange’s trading fees for takers are 0.10%. This fee is below the historical industry average, which is arguably around 0.25%. However, we are today seeing more and more exchanges moving towards lower trading fees, and new industry averages are starting to form around 0.10%. So in comparison with the new emerging trading fee averages, AAX is in line with industry average.
One of this exchange’s strong offerings is that it also offers trading fee discounts for makers, who trade at 0.06% (40% discount compared to takers). This maker/taker fee model promotes the liquidity at the exchange and is a strong aspect for this platform.
Futures Trading Fee
|Contract||Type||Value||maker/taker||maker / takerAAB 20% discount|
|BTCUSDT||USDTsettlement||0.001BTC||0.02% / 0.02%||0.016% / 0.016%|
|BTCUSD||BTCsettlement||1USD||0.02% / 0.02%||0.016% / 0.016%|
|ETHUSD||BTCsettlement||0.000001 BTC / 1 USD||0.02% / 0.02%||0.016% / 0.016%|
AAX Withdrawal fees
AAX charges a withdrawal fee amounting to 0.0004 BTC when you withdraw BTC. This is below the global industry average with roughly 50% (seeing as the global industry average BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal, at least when we did our most recent empirical study of withdrawal fees). All in all, the fees here are low and thus also consumer-friendly.
AAX does not accept any other deposit method than cryptos, so new investors are restricted from trading here. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange.
This platform is not only available from your desktop, you can now also access it via your mobile. Most traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smart phone as well. If you’re one of those people, then this platform can still be for you.
AAX only offers trading in 21 different cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple and EOS. The Exchange also offers more than 50 crypto-to-crypto trading pairs.
AAX exchange accepts cryptocurrency deposits and has recently partnered up with Epay to accept payments in USD, EUR, HKD, GBP and JPY.
Is AAX Exchange safe?
AAX utilises a multifaceted approach to ensure users’ security, their systems are compliant with the Cryptocurrency Security Standard (CCSS). The CCSS is a set of guidelines for security best practices for information systems that make use of cryptocurrencies, including exchanges and storage solutions providers. At the account level, all users are required to use two-factor authentication to access and operate their accounts.
As for storage of users’ cryptocurrencies, AAX holds most of users’ digital assets in secure offline facilities and upon request, AAX can offer insured cryptocurrency custody. Meanwhile for transactions, AAX has built its own multi-currency wallet system in compliance with industry standards and is not dependant on a single source of security.
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