CYBEX

Overview of CYBEX

CYBEX is a decentralized cryptocurrency exchange that was founded in 2018 and is registered in China. As a decentralized exchange, it accepts only cryptocurrency deposits and trades, and does not handle fiat currency. Moreover, it is not regulated by any authority which could be a matter of concern for some users looking for that extra layer of security offered by regulatory oversight.

In terms of trading fees, CYBEX has competitive offerings with a taker fee of only 0.05%, and interestingly, it incentivizes makers by not charging a maker fee at all. This makes it an attractive platform for traders executing large volumes of trades.

However, currently, CYBEX appears to be inactive. The official website is accessible, but the subpages and the help centre are unavailable, resulting in a lack of information about its operations. Additionally, the recent trading volume remains at zero. This suggests that the exchange might not be operating any longer, though the specific reasons for this are unclear.

Unfortunately, there's no customer support available currently, adding to the challenges in obtaining further information or assistance with any existing issues or queries. Therefore, potential users or traders are advised to exercise caution and carry out thorough research before opting to use this platform. The lack of regulatory oversight, paired with its current seemingly inactive status, may present multiple risks.

Pros and Cons

Pros of CYBEX

• Competitive Fees: The most notable advantage of trading on CYBEX is the competitive trading fees it offers. With a taker fee of just 0.05% and no fee for makers, it attracts heavy volume traders and liquidity providers.

Cons of CYBEX

• Cryptocurrency Payments Only: As a decentralized exchange, CYBEX only accepts cryptocurrencies. No fiat currencies can be used on this platform, which might be a limiting factor for some users.

• Not Regulated: CYBEX lacks regulatory oversight, which could raise security concerns among certain users. The absence of regulation might expose users to increased risks.

• Appears Inactive: Currently, CYBEX appears to be inactive, with zero recent trading volumes. This might impact the overall user experience, since active trading environments are essential for efficient market operations.

• Unavailable Customer Support: Customer support seems to be unavailable at the moment, which might cause difficulties for users needing assistance or facing issues.

• Half-Dead Website: The platform's website appears to be partially dysfunctional, with unavailable subpages and help centre. This complicates the process of finding necessary information and understanding the platform's operations.

Regulatory Authority

Regarding its regulation, CYBEX is not subject to regulatory authority. As it is registered in China and operates as a decentralized exchange, no well-known financial regulatory body oversees its operations. This lack of regulation might be a red flag for some potential users, as the additional security and accountability provided by regulatory authorities are absent. Potential users of CYBEX should be aware of the possible risks and carry out thorough due diligence before initiating trading activities on this platform.

Security

In terms of security, CYBEX operates across a wide network of servers spread out globally. This dispersal reduces downtime risk and makes it harder to disrupt the network through attacks. In the event a server is compromised, the impact on the overall system is minimal. Moreover, since trades on a CYBEX do not involve the exchange directly handling your assets, a potential breach would not allow a hacker to access your assets – a common risk associated with centralized exchanges. However, like other decentralized exchanges, CYBEX is not currently regulated. This means that while it is secure from many operational risks, it lacks the added layer of protection that regulation provides, which might be a major concern for some users.

How to Open an Account？

The registration process of CYBEX involves the following steps:

• Visit the CYBEX website and click on the “Register” button to begin the registration process.

• Fill in the required information, such as your email address and password, to create an account.

• Verify your email address by clicking on the verification link sent to your registered email.

• Complete the KYC (Know Your Customer) process by providing the necessary identification documents, such as a passport or driver's license, to verify your identity.

• Set up two-factor authentication (2FA) for an added layer of account security.

• Agree to the terms and conditions of CYBEX and submit your registration. Once your registration is approved, you will have access to the CYBEX platform.

However, it worths noting that this exchange is currently inactive, so users should always be aware of the risks.

Payment Methods

CYBEX operates as a decentralized exchange accepting only cryptocurrency deposits. This means that the platform does not allow any deposits in fiat currency. Therefore, traders who are new to the crypto world and lack any existing crypto assets cannot directly trade on this platform. Instead, they will first need to obtain cryptocurrencies from an entry-level exchange that accepts fiat currency deposits. After acquiring crypto assets, they can be transferred to CYBEX for trading.

Fees

In terms of trading fees, CYBEX proves to be competitive. While the average taker fee across the industry ranges from 0.10% to 0.25%, at CYBEX, takers only pay 0.05%. Remarkably, makers are incentivized with a trade discount, receiving -0.025% on their trades.

As for withdrawal fees, the CYBEX charges 0.0005 BTC per BTC-withdrawal, which is slightly below the average industry fee of 0.0008 BTC.

FAQs

• Q: What types of payment methods does CYBEX accept？

  A: CYBEX only accepts cryptocurrencies as payment methods.

• Q: Is CYBEX a regulated exchange？

  A: No, CYBEX is not regulated by any known financial regulatory authority.

• Q: Is customer support available at CYBEX？

  A: At present, customer support is not available at CYBEX.

• Q: How do the trading fees at CYBEX compare to other exchanges？

  A: CYBEX offers competitive trading fees, with a taker fee of 0.05% and no fee for makers.

• Q: Is CYBEX currently active？

  A: Based on the available information and trading volumes, CYBEX appears to be inactive.

User Review

• User Review 1: “The competitive fees made CYBEX a favorable trading platform for me in the past. However, I have been unable to withdraw my assets recently, and there seems to be no trading activity. It appears that the exchange is not operating anymore.”

• User Review 2: “The unavailability of the website's subpages and limited information make me apprehensive. The exchange seems to be non-functional, and I don't feel safe trading on a platform that appears to be essentially dead.”

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.