ACX – Exchange Overview: Reviews and Registration
ACX is Australia’s largest bitcoin exchange. Does not charge a commission for trading on the platform. A fee is charged for withdrawing fiat to Australian bank accounts and is 1%.
The company was established in 2014 and is registered in Australia. She initially focused on local investors in bitcoin. Other popular digital currencies were later added.
The first purpose of the site is to work as a cryptocurrency arbitrage fund. In 2016, the company expanded its functionality and became a full-fledged digital currency exchange.
She works under the wing of Blockchain Global Limited, which started as a Bitcoin Group Limited, but then survived rebranding. In addition to the cryptocurrency trading platform, it has a number of projects in various areas of the crypto industry, including bitcoin mining and consulting services.
In February, BGL acquired the DigitalX Directs mining platform, which also had an exchange service, along with its client base. It was completely transferred under the control of the exchange, which allowed to significantly increase the turnover of trade. ACX now accounts for almost 50% of global trade in the BTC / AUD pair. And the main competitor is the Huobi exchange.
The general manager of the trading floor is Allan Guo. He is also a co-founder of Bitcoin Group Limited.
The server was created on 07/03/2014. The official ACX website has two language versions:
According to Alexa, more than 60% of exchange users are traders from Australia. This is explained by the orientation of the site to the local market, the corresponding list of available trading pairs and the need to have an account with an Australian bank.
On the main page, visitors can view current volumes and courses for the proposed markets, learn about the main advantages of the trading platform, working conditions on the site, etc.
Registration and login to ACX
To create an account, you must specify:
- Coupon code (if any).
To start bidding, you need to go through three stages:
- Verification of email (an email will be sent to the email, in which follow the link);
- Enable two-factor authentication.
- Verification of personality.
The third stage consists of the following steps:
- Indicate the name, surname, date of birth, citizenship (where the ID-document is issued), type of identity document, its number, expiration date and address of residence;
- Attach scans of identity cards and utility bills (there may be another official document confirming registration).
Input and output
Of the fiats, only the Australian dollar is supported, and of cryptocurrencies – Bitcoin, Bitcoin cache, Ethereum, United Bitcoin, Hshare, Dash and Etherparty. To keep an AUD, you need to link an account with an Australian bank. Withdrawal is also carried out only to the account of an Australian bank. Deposit processing may take up to 3 business days.
Commission for depositing / withdrawing funds in AUD – 0%. Cryptocurrency cash out fee – network commission.
Currency exchange is made in the formats of crypt / crypt, crypt / fiat. In total, 7 trading pairs are available on the site:
- BCH / AUD – $ 458k;
- BTC / AUD – $ 335k;
- ETH / AUD – $ 179k;
- UBTC / BTC – $ 2.4k;
- HSR / AUD – $ 1k;
- DASH / BTC – $ 1k;
- FUEL / BTC – $ 1k.
The total daily volume is within $ 1 million. The trade commission is 0.2%. It can be reduced to 0.1% individually for traders with a monthly turnover of 3 million AUD and above.
The trading chart is equipped with basic tools, including time frames for charts, MA and EMA indicators. You can also view the depth of the market. On the left is a glass of applications, and on the right is the history of transactions. User transactions are placed in a separate window at the bottom of the screen.
Types of Orders
Traders can place the following types of orders:
Leverage trading is not available.
When you first enter the exchange website, a beginner can specify a coupon code. This is a kind of referral link. It is created for each new referral individually and is valid for 2 hours. For attracting customers relies ‘a certain part’ of the referral trading commission. But how many names this “certain part” is, is not indicated on the site.
An e-mail [email protected] has been allocated to contact support service operators. Other communication channels are not provided. Additionally, you can search for answers in the FAQ section.
To reduce the fraud lawsuit among its customers, the company follows the principles of KYC and introduced mandatory verification. You also need to activate two-factor authentication. Without it, currency exchange will not be available.
More than 95% of the funds of the site and customers are stored in cold storage. The administration implements modern mechanisms for protecting assets and data, so the exchange has never been successfully attacked.
The platform has been operating for 4 years and during this period has earned the trust of local traders. Its turnover is the lion’s share of the Australian dollar trade in the cryptocurrency market. She offers a competitive commission and removed the fee for depositing / withdrawing funds (including AUD).
The main disadvantage of the exchange is that it is not suitable for traders who do not have an account with an Australian bank and who are not interested in trading AUD. Therefore, for the time being, expansion is not possible at the expense of foreign users.