EXNCE

EXNCE Review

EXNCE is an exchange from Estonia with an exchange license from the Estonian authorities. It launched in 2019.

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 (update: there is now also an exchange from Lithuania: BTC Exchange). 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.

This trading platform does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here.

As the core values of the exchange, they state that they are accessible, professional and secure.

Trading Volume

Although we don’t have any data from coinmarketcap.com to rely on, CoinGecko reports that the 24 hour trading volume on the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19) was 0.029 cents. If this isn’t a red flag, we don’t know what is. There is a substantial risk that this exchange will have to shut down in the near future. So, if you’re a potential user of the platform, be careful.

EXNCE 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 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. The below is a picture of the trading view at EXNCE:

EXNCE Fees

EXNCE Trading fees

This Canadian trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. EXNCE charges 0.10% for most trades, which they confusingly enough present as "0.001" on their fee page. 0.10% is in line with the newer industry averages, although the industry averages have historically been higher (0.20%-0.25%).

EXNCE Withdrawal fees

EXNCE does not support trading in BTC, so they don’t have a BTC-withdrawal fee that we can compare against. Their ETH-withdrawal fee, however, is 0.009 ETH. This should be compared with other exchanges’ ETH-withdrawal fees in our Exchange List, such as Joyso (charging 0.0006 ETH) EtherDelta (charging 0.0007 ETH per ETH-withdrawal), Kyber Network (charging network fees, 0.004782 ETH per ETH-withdrawal), Tokpie (charging 0.0009 ETH) and Bilaxy (charging 0.01 ETH per ETH-withdrawal).

So, in comparison with the above, EXNCE’s withdrawal fee for ETH is the second highest.

To summarize, the trading fees here are low and the withdrawal fees are a bit on the high end.

Deposit Methods

This trading platform does not accept any other deposit method than cryptos, so new crypto investors can’t trade here. If you don’t have any cryptos but want to start trading here, you will first have to purchase cryptos from another exchange and then, as a second step, deposit them here. Don’t worry though, we will help you find an exchange where you can purchase your first cryptos by the help of our Exchange Finder. Do the test there now and you will see what alternatives you have.