Launched in 2017 and headquartered in Cyprus, the Crex24 centralized cryptocurrency exchange was available to users in different countries, except the UK, USA, Canada, and Israel. In addition, the platform did not support iOS users and required all traders to complete a KYC process.
However, in February 2022 the Crex24 crypto exchange was shut down.
Markets
The Crex24 spot market supported many currencies in a wide range of Crex24 trading pairs. The exchange also had a native token, which is known as the CREX token. The token was mainly used for trading. Though it was also used to lower margin while trading.
There were two parties present in every trade: the maker and the taker. The Crex24 crypto exchange charged a 0.10% flat transaction fee for both makers and takers. Therefore, Crex24’s exchange fees are similar to the global industry average.
In terms of withdrawal fees, Crex24 charged custom ones based on the asset being withdrawn. For example, when users withdrew BTC, they had to pay the Crex24 crypto fee of 0.00148 BTC. This charge was quite big given the worldwide industry average BTC withdrawal of 0.00053 BTC. Therefore, the Crex24 crypto price was about twice the industry average.
Other Services
The Crex24 exchange had a referral program that allowed users to earn income by referring their friends.
Besides that, the exchange also had a feature known as faucets. With this faucet, users were able to easily ask to receive specific cryptocurrencies entirely free of charge. Naturally, the number of requests that can be made was time-limited. The time intervals ranged from 5 minutes up to 1 day.
About the Company
When looking at the online reputation of Crex24’s crypto exchange, it is rather alarming to see a high number of negative reviews about problems with customer support, withdrawal, and possible cases of scams. The platform was launched in 2017 by a company called Crex24 OÜ. While the Crex24 cryptocurrency exchange is currently untracked, the highest Crex24 volume was $23.78 million on April 4, 2022.
The shutdown of the exchange was also followed by accusations of users' wallets being drained of liquidity and tokens.
