NGOEX

Overview of NGOEX

NGOEX, a Chinese cryptocurrency exchange, was operational for 2-5 years before being listed on WikiBit's shutdown list due to regulatory concerns. Despite prioritizing security through advanced encryption and multi-factor authentication, its lack of regulation raises potential risks. Offering over 50 cryptocurrencies for trading, including Bitcoin, Ethereum, Tether, and Cardano, with prices ranging from $38,000 to $0.08, NGOEX has facilitated a total trading volume of $200 billion and a market capitalization of $1 trillion. To open an account, users complete KYC verification and set up security measures, with maker and taker fees varying based on trading volume. While NGOEX offers educational resources and tools for users, customer support primarily operates through Twitter (@ngoexcoin) and Facebook (https://www.facebook.com/ngo.ex.98).

Pros and cons

NGOEX presents notable advantages, including competitive fees for both makers (0.04%) and takers (0.10%) as well as fee-free cryptocurrency deposits. It enables fiat currency trading, offers diverse trading options, and allows for anonymous trading. However, there are drawbacks, such as the absence of regulation by any government or financial authority, withdrawal fees for most cryptocurrencies (except USDT), a limited selection of 50 cryptocurrencies, and comparatively lower recognition compared to more established exchanges.

Regulatory Authority

NGOEX, which is now listed on WikiBit's shut down list of exchanges due to its cessation of operations, lacks proper regulation, posing potential risks to users. It is crucial to exercise caution and be informed about the absence of valid regulatory oversight before engaging with this exchange.

Security

NGOEX prioritizes the security of its users' assets and implements various protection measures. The platform utilizes advanced encryption technology to safeguard sensitive data and transactions. This encryption ensures that user information is kept confidential and protects against unauthorized access.

NGOEX also employs multi-factor authentication (MFA) to provide an additional layer of security. MFA requires users to provide secondary authentication factors, such as a unique code sent to their mobile device, in addition to their login credentials. This helps prevent unauthorized access even if login credentials are compromised.

Furthermore, NGOEX implements strict security protocols and regularly updates its systems to address any potential vulnerabilities. The platform conducts regular security audits and assessments to identify and mitigate any potential risks.

While NGOEX takes significant measures to protect user assets, it is important for users to also take responsibility for their own security. Users should employ strong and unique passwords, enable MFA, and keep their account information confidential. Additionally, users should be cautious of phishing attempts and refrain from sharing personal or sensitive information with unknown or suspicious sources.

Cryptocurrencies Available

NGOEX offers over 50 different cryptocurrencies for trading. These include well-known cryptocurrencies such as

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Binance Coin (BNB)
• USD Coin (USDC)
• XRP (XRP)
• Cardano (ADA)
• Solana (SOL)
• Terra (LUNA)
• Avalanche (AVAX)
• Dogecoin (DOGE)

Prices ranging from $38,000 (BTC) to $0.08 (DOGE). The total trading volume for all cryptocurrencies on NGOEX is $200 billion, and the total market capitalization is $1 trillion.

How to open an account？

To register on NGOEX, follow these six steps:

1. Visit the NGOEX website and click on the “Sign Up” button.

2. Provide your email address and create a strong password for your account.

3. Verify your email address by clicking on the link sent to your inbox.

4. Complete the KYC (Know Your Customer) verification process by providing your personal information and supporting documents such as identification and proof of address.

5. Set up any additional security measures, such as two-factor authentication, to secure your account.

6. Once the verification process is complete, you can start trading on NGOEX by depositing funds into your account.

Fees

The maker fee is 0.04% and the taker fee is 0.10% for the first 50 BTC of monthly trading volume.

Payment Methods

NGOEX does not charge any fees for depositing cryptocurrencies. However, there are withdrawal fees for all cryptocurrencies, except for Tether (USDT). The withdrawal fees are charged to cover the network fees associated with transferring cryptocurrencies from NGOEX to your external wallet. For example, the withdrawal fee for Bitcoin is 0.0005 BTC.

Customer Support

NGOEX offers customer support primarily through its social media platforms. You can reach out to them on Twitter via their handle @ngoexcoin and on Facebook through their page at https://www.facebook.com/ngo.ex.98 for assistance and inquiries.

Compare to Other similar Brokers

NGOEX offers around 50 cryptocurrencies with fees at Maker: 0.04% and Taker: 0.10%, accommodating amounts up to 100 BTC, and an account minimum of $10. In comparison, Binance provides access to over 500 cryptocurrencies with fees at Maker: 0.01% and Taker: 0.05%, while offering up to 100 BTC amounts and a similar account minimum of $10. Coinbase offers over 100 cryptocurrencies, with Maker: 0.04% and Taker: 0.04% fees, an account minimum of $25, but no promotions. Kraken lists 60+ cryptocurrencies, with higher fees at Maker: 0.16% and Taker: 0.26%, but no account minimum.

FAQs

Q: What is the minimum deposit amount required to start trading on NGOEX？

A: The minimum deposit amount required to start trading on NGOEX may vary based on the cryptocurrency and payment method chosen. It is recommended to refer to the platform's deposit requirements or contact customer support for specific details.

Q: Are there any fees for cryptocurrency withdrawals on NGOEX？

A: NGOEX does not charge any withdrawal fees for cryptocurrency transactions. However, external fees may apply, depending on the blockchain network and the specific cryptocurrency being withdrawn.

Q: Can I trade cryptocurrencies on NGOEX using a mobile device？

A: Yes, NGOEX provides a mobile application that allows users to trade cryptocurrencies on their mobile devices. The mobile application offers a user-friendly interface and gives traders the flexibility to manage their accounts and execute trades on the go.

Q: Does NGOEX offer margin trading？

A: The given information does not mention whether NGOEX offers margin trading. Traders interested in margin trading should check the platform's website or contact customer support for detailed information on available trading options.

Q: Can I transfer funds directly from one NGOEX account to another？

A: The given information does not specify whether funds can be transferred directly between NGOEX accounts. Traders are advised to check the platform's user guide or contact customer support for information regarding account-to-account transfers.

Q: Does NGOEX offer an API for automated trading？

A: The given information does not mention whether NGOEX offers an API for automated trading. Traders interested in automated trading should refer to the platform's documentation or contact customer support for information on available API services.

Q: How long does it take for NGOEX to process cryptocurrency deposits？

A: The processing time for cryptocurrency deposits on NGOEX generally depends on network confirmations. It can vary from a few minutes to several hours, depending on the specific cryptocurrency and network congestion.

Q: Is there a limit on the maximum amount I can withdraw from my NGOEX account？

A: The given information does not provide details on withdrawal limits. Traders should consult NGOEX's withdrawal policies or contact customer support for information regarding maximum withdrawal limits.

Q: Does NGOEX offer customer support in multiple languages？

A: The given information does not specify whether NGOEX offers customer support in multiple languages. Traders requiring support in a specific language should check the platform's website or contact customer support for language availability.