Polyx cryptocurrency exchange was founded in November 2018. The company is based in Estonia. It is a versatile exchange platform that allows users to sell, buy, exchange, store, and accept cryptocurrencies. The company’s mission is to integrate popular services into one product, meeting the demand of different categories of users.
Polyx crypto exchange features a KYC verification process to prevent illegal activities done with cryptocurrencies. All users are required to submit their identification documents (a passport or a driving license), as well as utility bills as proof of address.
The platform is accessible in over 15 countries, with plans of expanding into other countries. However, there is no indicated timeline for this expansion. Furthermore, the company is regulated by EU financial and crypto regulations.
While the platform does not offer a Polyx spot trading feature, it provides users with a number of cryptocurrencies that can be bought or exchanged directly without the hassle of a middleman. Polyx crypto exchange supports fiat deposits in USD, the Russian Ruble, and EURO. There are over 17 Polyx trading pairs that can be traded on the platform. Furthermore, derivatives, margin, leverage, and future trading options are not available on the platform. Major currencies like BTC, ETH, LTC, and others, are supported on the platform.
Polyx cryptocurrency exchange lets users deposit assets to the exchange in many different ways. They can make use of wire transfers, debit cards, and so on. Seeing as fiat currency deposits are possible on this platform, it could be described as an “entry-level exchange”. Transaction fees charged for deposits are determined by the payment method a user wishes to use. There are no Polyx crypto fees for crypto deposits.
Polyx exchange fees are normally a percentage of the value of the trading order, which is 0.10%. For withdrawals, a Polyx crypto price of 0.0004 BTC per BTC withdrawal is charged. Charges for other crypto assets are dependent on network fees charged by the blockchain of that specific asset.
About the Company
Polyx crypto exchange was founded by Stan Chernukhin in 2018. Its headquarters are based in Tallinn, Estonia.
Stan Chernukhin is a serial entrepreneur with over 15 years of experience in digital marketing. He also has experience and interests in artificial intelligence, fintech, and blockchain technology. He graduated from the Finance University in Russia with a specialization in finance and credit. Before starting Polyx, Stan was a managing partner at Masterlead, and the COO at Smart Media ADV. Besides, he is currently a managing partner at Polygrant.
In 2020, UK-based cryptocurrency company, SatSimple, acquired Polyx crypto exchange for an undisclosed amount. SatSimple made this acquisition in a bid to expand its crypto operations and expand into other countries and territories.
As of December 2022, the 24-hour Polyx trade volume stands at around $15 million. Though you can see the current Polyx volume above.