RuDEX
Exchange Fees
Deposit Methods
Cryptos (14)
UPDATE 23 March 2023: While RuDEX still has an active website that's possible to access, the trading volume is so low that we have decided to mark it as dead and move it to our Exchange Graveyard. We feel that it would not be prudent to refer users to a platform where they would have had great difficulties in their order execution. The 24 hour trading volume on 23 March 2023 was only USD 1,196.71:
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RuDEX Review
What is RuDEX?
RuDEX is a decentralized exchange based in Mother Russia. It launched in April 2017. We assume that the name of the exchange comes from “Ru” as in “Russia”, and DEX as in “Decentralized Exchange”. But, it isn't a decentralized exchange, so the name is actually quite misleading.
RuDEX Advantages
The exchange lists five advantages with the platform on its website. Interestingly enough, three of the advantages relates to the platform being located in Russia and catering to Russian clients. So if you don’t feel that those things are an advantage, the only two real advantages promoted by the exchange for you is that it is a fiat gateway (i.e., an “entry-level exchange”) and that it has mutually beneficial crowd-marketing solutions. We’re not even sure what the latter means, but that’s what they say.
Trading Volume
However, decentralized exchanges normally have an order book with lower liquidity than their centralized counterparts and if you lose your password, it is probably lost forever. The lower liquidity issue is prevalent also for this exchange.
On the date of last updating this review (2 December 2021), the 24-hour trading volume was merely USD 1,249, according to Coinmarketcap.com. Needless to say, this value is extremely low and readers should be cautious if they plan to open a new account on this exchange.
US-investors
As far as we can tell based upon the information we have obtained, US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
RuDEX Trading View
Different exchanges have different trading views. 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 cryptocurrency 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 ascertain that it feels right to you. The below is a picture of the trading view at RuDEX:
RuDEX Fees
RuDEX Trading fees
The trading fees here are very low (0.05% for BTC, ETH, DGB, PPC and GRC and 0.00% + Bitshare-fees for all other cryptocurrencies). This is extremely competitive seeing as the global industry average is 0.25%. This means that RuDEX’s trading fees are (at worst) five times lower than the global industry average.
RuDEX Withdrawal fees
Certain exchanges have low trading fees and get their profit through high withdrawal fees instead. Not RuDEX, though. RuDEX only charges 0.0005 BTC when you withdraw BTC. While this is not a market-record, it is almost 40% lower than the global industry average (being 0.0008 BTC). Good work, RuDEX!
Deposit Methods
Fiat currency deposits are not allowed here, so if you’re looking for an exchange where you can deposit fiat currency, this is not the one. This also means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!