IncoreX

IncoreX Review

What is IncoreX?

IncoreX is an exchange registered in Estonia with an exchange license from the Estonian authorities. It launched in 2018.

As you surely know, the Baltic region consists of three countries: Estonia, Latvia and Lithuania. With this in mind, it might seem odd that out of these three countries, only Estonia is the home of any exchanges. The likely explanation for this however is that Estonia has a license you can obtain in order to conduct crypto exchange operations as an Estonian company. To our knowledge, there are only two other nations in Europe that have a clear specific legislation on this like Estonia has: Malta and Gibraltar.

US-investors

As far as we can tell, investors from USA can trade there. Any US-investors that want to trade here should in any event form their own opinion on any issues arising from them being from the US.

IncoreX Advantages

The exchange lists six things as the main advantages of the platform. These six things are security, variety of payment methods, fast transactions, high referral payments, dedicated support staff and low trading fees. These things are all important in our opinion and it remains to be seen if this exchange can be true to their promise.

Team

IncoreX also has information on its website about the team running the exchange. This is somewhat comforting to us, seeing that any exchange that were looking to scam investors would most likely not provide info on the team members behind the exchange. Sure, IncoreX only provides names, titles and pictures, but it is still better than nothing. Here they are:

IncoreX Trading View

At an exchange, there is always a trading view. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. This is the trading view at IncoreX:

IncoreX Fees

IncoreX Trading fees

An important thing to keep in mind when picking a crypto exchange is that you must always check the fees.

This exchange’s trading fees for takers are 0.10%. This fee is a bit below the industry average. The industry average is arguably around 0.25%. Also, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a strong edge in the market!

For a long time, industry average has been around 0.25%. But today, we see a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead, just like IncoreX. To summarize, this exchange charges taker fees that are in line with or below the global industry average and their maker fees are far below the industry average.

IncoreX Withdrawal fees

IncoreX charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is quite in line with industry average, although slightly above actually. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average. In any event, 0.001 BTC is on the high end.

Deposit Methods

At IncoreX, you can deposit in essentially any way you want. Wire transfer and credit cards included (including AdvCash). This can be helpful especially for newer crypto investors. The fact that fiat currency deposits are enabled here makes this exchange an “entry-level exchange”. Fiat currencies possible to deposit are however limited to the USD, the EUR and the RUB.