WEEX Review

Crypto exchanges are like skis - to the uninitiated, they might all look the same, but enthusiasts know full well that finding the perfect pair can make the ride so much more enjoyable. Whether you're an old hand at crypto trading or a complete newbie, it's never too early or too late to give another platform a chance! If you're feeling adventurous today, read my WEEX review and meet one potential candidate.

WEEX is a safe and intuitive centralized crypto exchange with plenty of features to entice investors of all levels. It offers spot and futures trading (with a demo trading mode for inexperienced users), as well as copy trading.

Can this platform hold a candle to the A-list exchanges like Binance, Kraken, and Bybit, though?

WEEX Review: Quick Overview

Before we dig in, let me summarize the platform's main features and characteristics in this handy table:

Table: A quick overview of WEEX

Feel free to look it up at any point while reading this WEEX review if you need a quick recap!

WEEX Alternatives

WEEX might be a promising player, but can it compete with established household names? If you're feeling skeptical, you can always check out these top-rated alternatives with a much longer track record and stellar performance reviews:

• Binance. With over 250 million users, Binance is currently one of the most popular crypto exchanges in the world. It offers competitive trading fees, multiple earning and staking options, and some of the less conventional trading types, such as P2P.
• Kraken. Famous for its intuitive interface and stringent security, Kraken is a great option for both beginners and experienced traders. You'll find over 360 cryptocurrencies and several types of trading: spot, margin, futures, and OTC.
• Bybit. This exchange features an especially generous selection of over 1,860 cryptocurrencies and a thriving Web3 ecosystem, including three types of wallets and other services. It also offers several staking and yield farming options.

	KRAKEN	BINANCE	BYBIT
Overall Score	9.8	8.1	8.0
Best For	Beginners	Advanced Users & Beginners	More Advanced Users
Operating Countries	United States, Germany, United Kingdom, France, Canada, + 190 more	Turkey, Argentina, Vietnam, Ukraine, + 180 more	South Korea, United Kingdom, Ukraine, Turkey, +160 more
Latest Coupons	Visit Site All Kraken Coupons	See All Coupons of Best Exchanges	See All Coupons of Best Exchanges
Verdict	One of the best crypto exchanges, especially in the US.	One of the leading crypto exchange platforms in the industry.	A popular crypto derivatives exchange with some super-low trading fees.
	Visit site Read review	See TOP10 Brands Read review	See TOP10 Brands Read review

Table: A comparison of Binance, Kraken, and Bybit

The best option for you depends only on your needs.

📚 Read More: Best Crypto Exchange

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Who's WEEX For?

Right now, you're probably thinking - is this WEEX review for me? There are tons of crypto exchanges out there, and not all are equally suited for every user group. Worry not! I'll save you some time by tipping you off in advance. I recommend giving WEEX crypto exchange a try if you belong to any of these crypto trader demographics:

• Beginners. WEEX features a streamlined and user-friendly interface alongside an extensive knowledge base and plenty of discount deals and challenges to motivate newbie traders. Plus, it offers demo and copy trading.
• Privacy-conscious traders. WEEX is a good option for privacy-conscious traders thanks to its optional KYC, allowing trading and up to 500,000 USDT daily withdrawals without verification.
• Advanced traders. WEEX crypto selection will appeal to connoisseurs who find most other exchanges lacking for their taste, while the futures trading option with cross margin and up to 200x leverage is well-suited for pros.

As you can see, this exchange casts quite a wide net, trying to cater to many types of users. Whichever category you fall into, chances are you'll find something on WEEX to make you stay.

Advantages

Let's start with the bright side. As I've been implying, WEEX boasts quite a few selling points. I'll delve deeper into each of those in the following sections of this WEEX review, but for now, here's a quick summary of what makes this exchange stand out:

• User-friendly interface;
• Massive cryptocurrency selection;
• Educational trading modes;
• Multiple reward programs.

A streamlined and intuitive interface is one of the most obvious features a crypto exchange can implement to attract new users and make them stay, and WEEX definitely understood the assignment when it comes to this area. You'll have no trouble discovering and accessing the platform's main features, and international users will be able to use it in 15 other languages and 11 fiat currencies.

Cryptocurrency selection is another one of WEEX's strong suits. Unlike most other exchanges that only offer 100-300 assets, this platform knocks it out of the park with a staggering 1,000+ cryptocurrencies and 1,500 trading pairs. No matter how niche your trading preferences are, you'll probably find what you're looking for.

WEEX offers not only spot and futures trading (a standard package for most exchanges today) but also demo trading and copy trading, which are often harder to find among less mainstream trading platforms. Demo futures trading mode gives you virtual funds to open positions on perpetual contracts, while copy trading lets you emulate the moves of the most successful Elite Traders on the platform.

Last but not least, WEEX excels at another quintessential characteristic of a successful crypto exchange - reward programs. Aside from referrals, which most other exchanges have, too, you'll find a Welcome Bonus, a complex affiliate program, a VIP club, daily crypto lotteries, and plenty of other events and opportunities to win free crypto or get fee discounts.

Limitations

Now that I've addressed the positives, it's time to flip the scoreboard and shine some light on the platform's shortcomings. Based on my own experience and other users' WEEX reviews, here's where the exchange needs to step up its game a little: 

• Lack of regulatory compliance in some regions;
• Mediocre customer support.

While WEEX holds MSB registrations in the US and Canada, as well as a BSP license in El Salvador, it lacks regulatory approval in major financial markets such as the European Union or the United Kingdom.

Moreover, some users have reported issues with customer service, including delayed responses and difficulties resolving account-related problems. ​I'll elaborate more on that later.

Security

Even the best exchange in the world would be useless if you couldn't trust it to keep your crypto and personal data safe, right? The good news is, WEEX is no slouch in that regard - although there's still room for improvement.

WEEX employs a partially optional KYC: you'll be able to trade without the verification, but not buy crypto with your debit/credit card. The withdrawal limit for non-KYC users is rather high at 50,000 USDT per transaction or 500,000 USDT per day, which is a bit of a potential security gap but probably not a dealbreaker for most users.

WEEX ensures user fund security through multiple layers: two-factor authentication (2FA), withdrawal address whitelisting, and cold wallet storage for the majority of assets. It also uses multi-signature authorization for transactions, maintains a 1:1 Proof of Reserves policy, and has a 1,000 BTC protection fund to cover unexpected losses.

Trading Tools

By now, you probably have an idea of what to expect from this exchange - now it's time to really dig in and explore all of its features from up close. Let me start the main section of this WEEX review by describing the platform's trading features. Here's what you'll find:

• Spot trading with 1,000+ cryptocurrencies and 1,500 trading pairs;
• Futures trading with USDT-M perpetual contracts;
• Futures demo trading;
• Copy trading.

As I mentioned, this exchange is definitely a haven for more discerning traders who don't want to limit themselves only to the most popular coins. Aside from the typical go-to choices like BTC, ETH, and SOL, WEEX offers over 1,000 more coins and assets.

Next up, we've got futures trading. In line with most other exchanges, WEEX offers perpetual contracts - a type of futures contract with no expiration date. You can choose between 300+ perpetual USDT trading pairs with up to 200x leverage, depending on your leverage tier. The funding rates are settled every 8 hours and range between 0.000336% and 0.01%.

Seems a bit risky? No problem! WEEX invites you to dip your toes into futures trading the safe way - with a demo trading account. Unlike regular futures trading, there are only two markets available: BTC/SUSDT and ETH/SUSDT. You get a balance of 50,000 SUSDT, but the long and short position limit is 9.2545 BTC or 287.156 ETH, depending on which one you choose.

Another attractive option for ambitious learners is copy trading. With this system, you can become a copier who emulates the moves of their chosen pro trader,^[1] or an Elite Trader whose strategies will be copied by other, less experienced traders. Elite Traders' performance history is publicly available: you can check metrics like their 3-week copier profit, 3-week PnL, total copy trading profits, and more.

Customer Support

Is customer support a bane of your life as a crypto trader? You're not alone... Unfortunately, WEEX doesn't buck the common trend of crypto exchanges leaving their users stumped with inadequate customer support.

On paper, you've got all the standard options of a live chatbot, email, and feedback form. VIP clients get priority support with faster response times. However, the chatbot turned out to be next to useless even for simple questions. Lots of disgruntled users have complained of the same issue in their own WEEX reviews - either getting no response at all or having to wait for days for a reply.

To give some credit where it's due, WEEX does have a pretty impressive community network. The 7 main global social media channels - X, Telegram, Discord, Medium, Facebook, LinkedIn, and YouTube - are all available in separate versions for the Chinese and Korean audiences.

The knowledge base is another problem area. On the surface, it looks well-organized, but whenever I tried finding anything specific, it became clear that the guides to the platform's main features are either buried in search or not very comprehensive.

Localization and Regional Adaptability

Now that's an area where WEEX is pretty decent. Regional availability (or lack thereof) is one of the most frustrating issues a lot of crypto traders have to deal with if they live in one of the countries that frequently get shafted because of international sanctions or strict crypto regulations.^[2]

If you're reading this from an English-speaking country, you're in luck - WEEX operates in 130+ countries, including the United States, Canada, and Australia. On the other hand, the residents of North Korea, Iran, Syria, Cuba, Sudan, Crimea, Donetsk, and Luhansk won't be able to access it.

Bonuses and Special Offers

Who among us doesn't love getting free crypto? If you're the type to get a burst of motivation from various deals and promotions, WEEX might just be the right exchange for you. It features a whole array of different rewards programs and bonuses:

• Welcome Bonus;
• Referrals;
• Affiliate program;
• VIP club;
• Daily Spin to Win;
• Trading competitions and other events.

The Welcome Bonus initiative gives new users 30 days to complete basic getting-started tasks like enabling KYC, adding a recovery mobile number, or making their first deposit. The rewards range from 10 to 100 USDT - not exactly a fortune, but enough to give you a head start for trading.

WEEX features two types of referrals:

• Regular referrals. Any user can participate by sharing a referral link and earning a 50% commission on the referee's profits and trading fees.
• The affiliate program. Key Opinion Leaders (KOLs) can sign up and not only make a profit in commissions but also gain access to exclusive AMAs, publications, interviews, and galas to help grow their follower base.

Unfortunately, the affiliate program description is pretty vague. It doesn't mention the exact requirements for the so-called KOLs (such as a minimum number of followers on their channels) or even what sort of commission rates they can expect.

The VIP club is another benefit for active users. The main eligibility requirement is holding WXT tokens - those on VIP 1 who hold at least 5,000 WXT get a 10% discount on trading fees, while VIP 8 tier users with over 3,500,000 WXT enjoy a whopping 70% discount.

Aside from these programs, you'll see all sorts of regular events and challenges. All you need to do is log in to the platform and take a look around - you won't miss those promotional banners!

📚 Related: Best Crypto Deals

Fees and Limits

Nobody enjoys having to comb through the platform trying to find out how much it costs to use it - especially since this info is sometimes obfuscated or otherwise hard to interpret. Let me help you out here! To save you some time, I've summarized WEEX trading fees in this table:

Table: WEEX fees

As you can see, WEEX stands out with its high withdrawal limits. Non-KYC users can withdraw up to 50,000 USDT per transaction and up to 500,000 USDT per day, which is notably high compared to many other exchanges .​

These generous limits make WEEX appealing to privacy-conscious traders. However, completing KYC unlocks even higher withdrawal limits (100,000 USDT per transaction and 2 million USDT daily) and may be required for certain features or under specific circumstances.

Strangely enough, though, the exchange doesn't have the usual trading volume-based VIP tier system for spot trading you'll find on most other exchanges. There is the WXT-based VIP program, though, where token holders, based on their level, can get a 70% discount on futures trading fees.

User Experience

This exchange features a simple and user-friendly interface. WEEX trading platform has a Light and Dark mode, and users who speak other languages will be able to choose between 15 of them, including Chinese Mandarin, Japanese, Arabic, Spanish, Portuguese, German, and Polish. You can also switch between 11 fiat currencies.

As for the performance part of the user experience, WEEX has a decently high liquidity. While the figures differ across various crypto data aggregators, all citing lower numbers than the WEEX official website, most sources still estimate a daily trading volume range between $3-5 billion. According to the official website, the platform is capable of handling 450,000 transactions per second.

Users who prefer trading on their smartphone won't be left hanging, either. WEEX has a mobile app for both iOS and Android. The latter actually has more features than the web version: for some reason, buying crypto with a debit/credit card is only available on the mobile app.

How to Use WEEX

Enough theory for now - let's get to the practical bit of my WEEX review. Now that you have a clue how this exchange works and what it has on the plate, give it a spin with the help of these step-by-step guides.

How to Create a WEEX Account

The first thing you'll have to do, of course, is sign up on the exchange. As with most CEXs, the process is no different than creating an account on any other platform. Here's how to do it:

This is it! You're now ready to trade on the WEEX exchange.

How to Deposit on WEEX

Not so fast, of course - if you want to take WEEX for a ride on the spot trading carousel, you'll first have to deposit some funds into your account. If you haven't completed the KYC verification yet, the only way to get crypto on WEEX is by transferring it from another wallet. Follow this guide:

All done! It might take a minute or two for your transfer to go through.

How to Withdraw From WEEX

Finally, let me teach you how to withdraw from your WEEX wallet to another one:

Here you go! Just like with deposits, the transfer from your WEEX wallet to another one might take a while, depending on the network conditions, so be patient.

Comparison to Other Popular Exchanges

To wrap up this WEEX review, let's have a little comparative analysis as a treat! We've already examined this exchange from every angle, but how does it fare next to the top trio of Binance, Kraken, and Bybit?

WEEX VS Binance

Launched in 2017, Binance is the number one exchange by daily trading volume and the number of users. It has over 500 cryptocurrencies and 1,500+ trading pairs. Where it edges out WEEX is the number of trading types: in addition to futures, margin, and copy trading, Binance also features trading bots and P2P trading.

Binance charges a 0.1% spot trading fee for both makers and takers. Unlike WEEX, it employs a standard VIP tier system where users get a fee discount depending on their trading volume. On the highest tier, the spot trading maker fees are down to just 0.01%. On top of that, there's an additional 25% discount for BNB holders.

Futures trading is a bit more budget-friendly on Binance, too (specifically for takers). The maker fee for USDT-M perpetual contracts is 0.02%, while the taker fee is 0.05%.

Another major advantage Binance has over WEEX is the staking option. This exchange features both simple and advanced earning options - the latter promising higher yields but with an added risk. Binance Earn supports 180+ cryptocurrencies, some of them with an APR as high as 200%.

Binance is available in 180+ countries, which is more than WEEX, but, unfortunately, it doesn't include the US.

📚 Read More: Binance Review

WEEX VS Kraken

If you're a fan of robust security measures and a top-notch user experience, you can't go wrong with Kraken. This platform operates in over 190 countries and has 350+ cryptocurrencies. Launched in 2011, it's one of the oldest crypto exchanges - compared to such a veteran, WEEX seems like a fledgling.

Kraken comes with spot, derivatives, margin, and OTC trading (the latter two options are missing on WEEX). Margin trading allows up to 5x leverage, while derivatives trading supports over 300 multi-collateral contracts with up to 50x leverage.

When it comes to flexibility, Kraken blows WEEX out of the water with market options – unlike WEEX, you can trade crypto with fiat currency, too, and multiple cross-crypto pairs, not just USDT.

Kraken's spot trading fees are a bit higher than WEEX's - 0.25% for makers and 0.4% for takers with a 30-day trading volume between $0 and $10,000. However, Kraken has a tiered system where the highest VIP tier makers can enjoy spot trading free of charge, while the taker fee for that tier is 0.1%.

📚 Read More: Kraken Review

WEEX VS Bybit

For the final comparison, let's take a look at Bybit, another top-tier centralized exchange with over 10 million users. On this exchange, you'll find over 1,860 cryptocurrencies - even more than on WEEX. It also takes the lead with trading functionality by featuring options trading, P2P, OTC trading, and trading bots.

Bybit is a great option for investors looking for a one-stop shop. It's not just a CEX but an entire Web3 ecosystem with its own decentralized exchange, NFT marketplace, and several types of self-custodial wallets. Unsurprisingly, you'll also find multiple staking and earning options.

Bybit's spot trading fees run a spectrum from 0.1% all the way down to 0.02% and 0% for market takers and makers, respectively. Meanwhile, futures trading costs 0.02% for makers and 0.055% for takers, which is slightly cheaper than WEEX's rates.

Bybit has about as much of a geographical range as WEEX, operating in 160+ countries.

📚 Read More: Bybit Review

Pros

• Secure and reliable
• Accepts fiat currencies
• Lots of trading options

Main Features

• Reputable exchange
• Accepts fiat currencies
• Offers various trading options

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Pros

• Accepts fiat currencies
• Simple to use
• Supports only trusted cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for all type investors
• Accepts fiat currencies

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Pros

• Beginner-friendly
• Secure
• Decent trading and withdrawal fees

Main Features

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Conclusions: Is WEEX Right for You?

Let's wrap up this WEEX review with a little recap! WEEX is a safe and reliable CEX that offers spot, futures, and copy trading with over 1,000 cryptocurrencies. It's well-suited for both beginner and experienced traders, especially those who enjoy promotional deals.

Like most other exchanges, though, it's far from perfect. It lacks full regulatory oversight in major regions, doesn’t support fiat deposits, and has mixed reviews regarding customer support.

Would I recommend giving WEEX a go? Maybe - if you fall into any of the intended user categories and prefer the simplicity of affordable flat trading fees. It's definitely an option to consider for those who seek a non-KYC trading platform.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Kawai D., Soska K., Routledge B., Zetlin-Jones A., Christin N.: 'Stranger Danger? Investor Behavior and Incentives on Cryptocurrency Copy-Trading Platforms';

2. Scott H. S., Gulliver J., Kortje C.: 'A review of cryptoasset market structure and regulation in the United States'.