Wixi Exchange is a cryptocurrency exchange platform that allows you to trade crypto and tokenised assets like stocks in one single platform. On this platform, traders have the option to engage in two distinct trading environments – Spot and Margin. The Spot market facilitates the purchase and sale of over 100 of the most popular cryptocurrencies. Meanwhile, Margin trading allows users to trade cryptocurrencies on leverage, aiming for higher profits, with the added benefit of being able to insure against potential losses.
Additionally, it offers distinctive features such as Wixi insurance and structured cryptocurrency asset products, designed to mitigate typical trading risks. This ensures that traders are safeguarded against financial losses in case of market downturns, meaning unexpected market movements won’t result in total loss of their investment.
The platform’s interface is designed for simplicity and ease of use, making trading straightforward and inviting for users across all levels of expertise. This user-friendly approach can lead to better decision-making and potentially higher profits for traders, acting as a significant advantage for everyone, from beginners to seasoned experts. Furthermore, it includes specialized tools that enhance and secure the trading experience, accommodating those new to cryptocurrencies as well as individuals familiar with other financial markets, such as stocks.
Headquartered in Estonia, with ambitions to secure regulatory licenses in the European Union, Singapore, and the United Arab Emirates, WiXi is committed to adhering to stringent regulatory standards while ensuring its platform remains accessible to traders worldwide.
Features of Wixi Exchange
Let’s explore more about the features and advantages of the WiXi platform, including its advanced trading tools, innovative insurance product, comprehensive tokenomics, referral program, and other offerings, and decide if it is worth taking a trade in Wixi exchange.
WiXi Exchange offers a comprehensive set of trading tools and features for cryptocurrency enthusiasts, catering to a variety of trading strategies and preferences. Here’s a summary of what’s available on the platform:
Spot Trading: Enables the direct buying and selling of a wide range of major cryptocurrencies, such as Bitcoin, Ethereum, Solana, and Cardano, facilitating immediate transactions between participants.
Margin Trading: Provides the option for leveraged trading, allowing users to open positions larger than their current balance by borrowing funds. WiXi supports leverage up to 100x, amplifying both potential profits and risks.
Additional features enhancing the trading experience on WiXi include:
P2P Fiat Gateways: Offers a channel for users to buy cryptocurrencies with fiat currencies through peer-to-peer transactions, adding flexibility in how users can enter the crypto market.
Fiat Deposits: Enables the direct purchase of cryptocurrencies through fiat deposits using payment methods like credit cards and bank transfers, simplifying the process for users to convert traditional currency into digital assets.
Insurance Products: WiXi introduces an innovative insurance product designed to protect traders from losses, highlighting the platform’s commitment to user security and risk management.
Launchpad: A feature that allows new projects to launch and distribute their tokens directly through WiXi, providing opportunities for users to engage with emerging cryptocurrencies.
WiXi Exchange emphasizes simplicity and transparency as its core principles. It boasts an intuitive interface, making it accessible for beginners, while ensuring a high level of transparency in its operations and the management of user funds, underlining its status as a regulated entity.
In short, WiXi Exchange prioritizes simplicity and transparency in its operations, featuring an easy-to-navigate interface that welcomes beginners and maintains clear visibility into its practices and how it handles user funds. This approach highlights its commitment to being a trustworthy and regulated platform.
My Personal Experience with WIXI.EXCHANGE
A while ago, I decided to check out a cool feature called INSURE on the WIXI Exchange, which is like a safety net for trading.
Here’s what happened: I made a bet that Bitcoin’s price would go down and used $1000 with a trick called 10x leverage, making my bet worth $10,000 at Bitcoin’s price of 55k USD.
But, guess what? Instead of going down, Bitcoin’s price went up. Normally, this would mean I’d lose all my $1000 because my analysis was wrong. But here’s the cool part: I had bought the insurance feature for $200. This was my safety net.
When Bitcoin’s price shot up, and I was about to lose my $1000, the insurance kicked in. So, instead of losing the whole $1000, I only lost the $200, and the insurance saved me 800USD. I paid around $200 for the insurance. This meant I saved a net $600 that I would have otherwise lost.
So, what’s the big deal about this INSURE feature?
For anyone who’s just starting to trade or when the prices of things like Bitcoin go crazy up and down, this INSURE thing is super helpful. It’s like having a magic shield that protects your money. Even if you make a wrong guess, you won’t lose all your money because the insurance covers you.
This feature is great because it makes trading a lot less scary. You can try out trading without worrying about losing all your money in one go. It’s especially handy for new traders or when the market is really unpredictable. With INSURE, you get to learn and try trading without the fear of a big loss hanging over your head.
Explaining Further: How Wixi Insurance can help you save money?
Picture this: You’re feeling pretty good about Bitcoin’s future, so you decide to jump in and buy 1 Bitcoin for $50,000, dreaming of the price soaring even higher.
Now, if the stars align and Bitcoin’s value jumps to $60,000, you’re in the money! You could sell that Bitcoin and pocket a cool $10,000 profit because it’s worth way more now than when you bought it.
But, let’s flip the script. What if, instead of going up, Bitcoin’s price takes a nosedive to $45,000? Ouch. Now, your Bitcoin is worth $5,000 less than you paid. If you sell, you’re locking in a $5,000 loss.
Enter the hero of our story: Wixi Insurance. Instead of biting the bullet and selling at a loss, you turn to Wixi’s insurance. They swoop in and give you $5,000 to make up for the loss. You can claim this lifesaver anytime while your insurance is active, or wait until the end if Bitcoin never bounces back during your coverage period.
And here’s the kicker: This isn’t just for simple buy-and-hope-for-the-best scenarios. If you’re getting fancy with your Bitcoin by trading on margin (that’s where you borrow money to bet bigger), Wixi’s insurance has your back there too. It can even save you from the dreaded margin call, which is like the final boss in a video game that happens when you’re about to lose your entire investment and need to add more cash to keep the game going.
So, with Wixi Insurance in your corner, you can take a shot on Bitcoin without sweating too much. If the price dips, you won’t be left out in the cold because the insurance can help soften the blow of your losses.
Wixi Insurance for Spot Positions Explained
This insurance isn’t just applicable to trades opened on WiXi; it’s also available for trades that you open on other cryptocurrency exchanges like Okx and Binance. This adds a layer of comfort and flexibility for traders everywhere.
How It Rolls Out:
Choosing Your Insurance Window and Safety Net:
Traders pick how long they want their asset under insurance cover and establish a safety price. If the asset’s market price dips below this set price anytime during the coverage period, the insurance springs into action.
Protection From Downturns:
The insurance steps in to cover the gap between the set safety price and the actual lower market price, but only up to the amount of the position that’s insured. So, if the market price drops below the safety net, the trader gets compensated for the loss, but only up to the limit of what was insured.
For example: If a trader opens a leverage trading position of ETH at 3400USD level, and purchases insurance for one month period, then if ETH drops to 2500USD, the trader would have lost 900USD, but since the insurance was taken, as soon as you close the trade, you will get back the 900USD in USDT.
Wixi Insurance for Margin Positions Simplified:
When you’re margin trading on WiXi, you’re basically using borrowed money to make bigger trades than what your account balance would normally allow. The insurance for margin trades is like a superhero cape that protects you from both price spikes and drops, helping you avoid the dreaded liquidation.
Here’s how it safeguards your margin trades on WiXi from hitting the liquidation point:
Imagine you go bullish on ETH, setting up a 5x long position at $3,000 with an investment of $10,000. If ETH’s price falls to $2,400, under normal circumstances, you’d be facing liquidation. But if you have insurance, you dodge that bullet and keep your position intact.
This insurance acts as a buffer against the wild swings of the crypto market. You pay a fee (premium) for this layer of protection, and this fee contributes to WiXi’s income. The funds for insurance payouts come from these collected premiums.
Now, for those who are interested, Wixi Exchange also has its token, WIXI. Let’s learn more about Wiki tokens and its usecases.
Wixi token: What is it and what are the key use cases and benefits?
The Wixi token (WIXI) is the key currency of the WiXi Exchange, designed to enrich the platform’s ecosystem with a range of uses and perks for its holders. It allows for seamless transactions across various services on the exchange, improving the trading experience and building a strong community. The token’s integration across the platform’s offerings means users can enjoy enhanced utility and rewards.
Key Uses and Benefits:
- Pay for Various Fees: Use WIXI to cover exchange, withdrawal, listing, and insurance commission fees.
- Earn Discounts: Holding over 5,000 WIXI tokens earns you discounts on insurance products, up to 7% for transactions made on WiXi.
- Support from Profit Sharing: WiXi dedicates 30% of its quarterly profits to support the WIXI ecosystem, including token buybacks and investing in liquidity pools.
- Gain Early Access: With more than 5,000 WIXI tokens, enjoy priority in launchpad rounds and a say in platform decisions, giving you an edge in the crypto market.
At the time of writing, WIXI token is trading at 0.25USD.
FAQs
What are the transaction and conversion fees on Wixi Exchange?
Answer: Wixi Exchange offers competitive fees for its users. The transaction commission for trading is set at a low rate of 0.05%. For converting fiat currency to USD through the platform’s P2P service, a 2% fee is applied. These rates are designed to make trading and converting as cost-effective as possible for Wixi users.
What is the KYC policy and trading limits on Wixi Exchange?
Answer: On Wixi Exchange, trading cryptocurrencies does not require completing the Know Your Customer (KYC) verification process, allowing you to trade crypto without any limits anonymously. However, for fiat transactions, KYC verification is necessary. Once verified, there are no limits on fiat transactions, providing traders with unrestricted access to trade and exchange.
How does the Wixi Exchange referral program work?
Answer: Wixi Exchange’s referral program allows users to earn commissions by referring new traders to the platform. Commissions vary depending on the type of transaction:
- For trading on Spot and Margin terminals, you can earn from 30% to 50% of the trading commissions generated by your referrals.
- For insurance purchased through the platform, you receive 5% to 10% of the insurance cost as a commission.
For participation in launchpads, commissions range from 5% to 10% of the token value acquired through your referrals.
- This program is a great way to generate additional income while promoting Wixi Exchange’s services.
Is Wixi Exchange Safe?
WiXi Exchange is a safe place for trading cryptocurrencies, paying a lot of attention to following the rules and keeping users’ money secure. It’s set up in Estonia, known for being friendly towards crypto businesses, and is working on getting permission to operate in more places like the EU, Singapore, and the UAE. This shows WiXi is serious about doing things the right way and earning trust.
When it comes to trading digital currencies on WiXi, you don’t have to go through a bunch of checks to start (that’s what KYC means), making it easy to jump in. But, if you want to deal with regular money (fiat currencies) on the platform, you’ll need to do a quick verification. After that, you’re all set to trade as much as you like.
Being officially recognized and having the right licenses is a big deal for WiXi. It makes people, especially big-time investors, feel more comfortable using the platform. Plus, WiXi got a big thumbs up when it raised $500,000 from some unnamed big investors in Europe. This money is helping WiXi grow, improve the platform, and spread the word about what they’re doing.
In simple terms, WiXi Exchange is doing everything by the book to make sure it’s a safe and trustworthy place for trading cryptocurrencies, making it a good choice for people looking to get into crypto or those who’ve been around for a while.
However, having said that, it is always a best practice to keep your funds for the long term with you. Always remember: Not your keys, not your crypto. For trading, you can transfer the funds to the exchange. Once done, and you no longer want to trade, withdraw it to your self-custody and store it.
After what happened with Celsius exchange and FTX exchange in the past, self-custody is always advised.
Conclusion:
In conclusion, WiXi Exchange offers a fantastic opportunity for both newcomers and seasoned traders alike. With its focus on user security and regulatory compliance, WiXi provides a safe and trustworthy environment for trading cryptocurrencies. By offering insurance options for trading positions, WiXi ensures that traders can engage in the market without the fear of losing their investment. Whether you’re just starting out or looking to enhance your trading experience, WiXi Exchange is the place to be. So, register with WiXi, insure your positions, and trade with confidence, knowing that your money is protected.
