ANXPRO is a very popular cryptocurrency exchange that specializes in using both fiat currencies and cryptocurrencies to buy crypto. Buying Bitcoin and Ethereum can be simple by using this company. Because of its popularity, we have created a guide for new users.
Reminiscent of exchanges like Coinbase, ANXPRO is a polished exchange that offers users many options for trading altcoins. Smart and safe, the exchange is a project of Hong Kong-based ANX, a fintech company that has an established name in the arena. As an online trading platform that provides a point of entry for users looking to exchange fiat for cryptocurrencies (and vice versa), ANXPRO asks users to undergo verification.
A cryptocurrency and digital asset exchange platform, ANXPRO presents as a smart, reputable option. Choosing to fulfill any legal requirements, the parent company, Mega Idea Holdings Limited, has a transparent stance on regulatory issues.
That said, while in possession of a Money Services Operator license, this does not make it a regulated cryptocurrency exchange. This is more a product of the fact that most exchanges worldwide are still officially unregulated and trading in what is still a rather grey area. The licence issued by the Hong Kong Customs and Excise Department does, however, grant the company some legitimacy.
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Previously known as ANXBTC, ANXPRO is what many deem an “entry-level crypto service,” as it allows users to swap fiat currencies for altcoins and also subsequently store and trade on the platform. The site’s build is not elementary, however, and although simple to use, charting and associated intel is pronounced.
This company was created by ANX International, which is based in Hong Kong. ANX is a fintech company specialized in offering blockchain solutions and this platform is its flagship product.
It not only acts as a platform in which you are able to buy cryptocurrencies, but spend them using the popular ANX Bitcoin Debit Card created by the company, which lets you use your currency at the time that you wish to. The platform is cloud-based and you can access it on your desktop computer or your smartphone.
The company explains that ANXPRO is a secure platform in which you can store different types of token without having risks of losing them. The platform promises security, transparency and safety for all its users when they are using ANXPRO to trade.
If you have any type of problem, ANXPRO offers you full support so you can talk directly to the company’s help line to solve your problems.
Trading on ANXPRO [ANXPro.com] is relatively low-cost and the fact that the company has been in operation for close to five years adds to its credibility and prime focus of security. Possibly the most appealing feature of the exchange is that ANXPRO will give users a debit card with which they can spend (USD-converted) bitcoin at retailers all over the world.
A project of another MIHL company, ANX International, previously called Asia Nexgen, the exchange shows the fintech and overall UX expertise at play from experienced developers.
ANXPRO Main Features
The main features of ANXPRO are cryptocurrency trading, the ANXPRO Debit Card, the ANXPRO Wallet.
ANXPRO offers quality Trading of cryptocurrencies so you can make profits from this market and start to invest. It also has offers for Over-The-Counter (OTC) trading, which might be another way for you to get access to these assets.
The ANX Wallet, also known as the ANX Vault, is similar to most wallets in the cryptocurrency market today. You can view your funds and use the wallet to send them whenever you want to. It is available as an app for iPhone and Android. If you plan to send crypto via the wallet, you can save the address of your family and friends there. The wallet supports all the cryptocurrencies that are used on the company.
The ANX Bitcoin Debit Wallet would be right for you if you plan on using your Bitcoin outside of the internet. This debit card created by the company allows you to link your ANX account to it and spend your money whenever you want. You can use it to pay for goods or services in stores or to withdraw money from ATMs.
What Makes ANXPRO Better?
It’s a question many non-Hong Kong residents were asking in years gone by, as the company previously accepted only cash or local Hong Kong bank cheque deposits. ANXPRO enhanced its options and its American footprint when it bought CoinMKT’s domain and brand rights.
Thus established in Santa Monica, California, the company followed at the time by adding the Aten Black Gold Coin. This was widely seen as a bid for American appeal. The coin is a potentially valuable bridge between the oil industry and cryptocurrency. The company also acquired Justcoin in Europe, further evidence of their desire to present a truly global exchange.
Many fiat currencies are accepted on the exchange, and this enables many newcomers to the cryptosphere to get on board by buying their first digital currency. The exchange is competitive and far closer aligned to the negligible margins of legacy asset management.
On the ANXPRO platform, market makers are charged 0.1 percent and market takers 0.2 percent. ANXPRO has no deposit fees and withdrawal costs are competitive, too. While lower fees are available on other exchanges, they are without the benefits offered on ANXPRO.
Quite apart from a great first stop for newbies, the exchange is an elegantly simple yet ultimately sophisticated trading platform for all users. Charting intel is provided by TradingView, a reputable service provider. Both Android and iOS users can avail themselves of the Vault app that allows users to trade on the go.
Security on the exchange has been a core developer focus, and standard two-step authentication is employed by ANXPRO. Very appealingly, the majority holdings of digital assets are stashed in cold offline storage. Joining the ranks of professional, cautious service providers who add credibility to the community, ANXPRO has adopted this super-secure practice to minimize risks.
ANXPRO also facilitates over the counter (OTC) trading through its affiliation with Asia’s biggest OTC trading desk, Octagon Strategy Limited. The company has persistently increased its listed currencies, both fiat and crypto, and improved its UI.
That said, some commentators feel the fees are still too high and also bemoan the absence of a short-selling and margin trading focus. Previous grievances of the exchange only being suitable for locals has diminished as the company demonstrates a truly global ambition.
Other ANXPRO Values
With over 3 million users scattered across 50 countries, ANXPRO has processed more than 100 million transactions since inception in 2013. The project team selected offered altcoins carefully – and bitcoin, Dogecoin, Litecoin, Ripple and Stellar are frequent targets of trade.
The ANX Vault Mobile Wallet (ANX Vault) allows users to view and confirm currently held currencies from a single screen. A user scrolling through the wallet can see their total balance as well as its distribution between assets.
Button options like “trade” and “cash out” are intuitive and speak of well-designed UI. Users simply select currency pairs to trade, as the latest bids are displayed at the bottom of the trading screen. The wallet will also allow users to send bitcoin to someone who doesn’t have a wallet, via their email address.
As is common, frequent recipients addresses can be stored in the wallet, and retrieving ANX Vault funds is typically effected by most users employing the ANX debit card. Users can swipe the card to spend vault funds, topping up from the vault or elsewhere as needed, and also have the ability to withdraw ATM cash with the card.
Possibly most refreshing, once a user has verified themselves onsite and is recognized as a trader eligible for a card, no further paperwork is needed. The ANX Elite and the ANX Premium cards vary slightly in charges, with he ANX Elite card costing a $3.50 flat rate on ATM withdrawals. The Premium card costs a 1.5 percent fee or a minimum $7 on a withdrawal.
How To Create an ANXPRO Account?
To create your account, visit the company’s site and register using a valid email. You will receive a verification link and have to use details like country of residence and name to create it. After that, you have to verify your account.
An unverified user will have issues when using the company like sanctions on receiving and sending cryptocurrency or using fiat currency. Because of this, you should try to verify your account as soon as possible. Here is how you can do it:
Remember that the most important documents that you have to upload are an ID card with colored photo emitted by your government and a proof of residency that has your address and full name.
The verification process is very important because it enables the users to trade in a secure environment. By making the users go through these processes, the company keeps the platform compliant with international anti-money laundering laws and more secure.
ANXPRO Supported Currencies
At the moment of this report, ANXPRO supports a total of eight cryptocurrencies. Its main currencies are, obviously, Bitcoin (BTC) and Ethereum (ETH), which are the two most relevant coins in the market today.
The platform also supports some other tokens like Ripple (XRP) and Litecoin (LTC), which are also very relevant assets in the market today. ANXPRO supports two types of ERC20 Ethereum-based tokens: OAX, which is the own token of the company and the Golem Network Token (GNT).
The last two currencies supported are the Dogecoin (DOGE), which has a fair market share and it was created in 2013 and StartCOIN (START), which is a Litecoin fork. At the moment, the company does not support other popular tokens like Monero, Bitcoin Cash or Waves.
How To Deposit and Withdraw Using ANXPRO?
To trade, you need to make a deposit first. Follow these steps to do it:
You can deposit using fiat currency, cheques or crypto. Cash deposits are generally made within 3 to 5 hours, while cheque takes up to 5 banking days. Cryptocurrency deposits are generally automatic. High transactions might take some time to appear.
To make a withdrawal, follow the instructions:
Remember that you have to send your bank information to the company before you withdraw the money.
How To Trade Using ANXPRO?
You can trade in ANXPRO in two ways: you can either put a market order type or a limit order type. Market orders execute the trade at the moment that you use them and use the market price. The limit order, on the other hand, can be programmed not be made immediately, but when some currency hits a certain price in the market. If a certain order was not executed, you can still erase it.
The following trading pairs are supported by ANXPRO:
The status or your orders can be checked on the Activities tab.
As trading costs money, the platform has created minimum orders that you have to use to trade a currency. The minimum order limits are as follow:
- Bitcoin: Quantity: 0.01
- LTC: Quantity: 0.1
- DOGE: Quantity: 5,000
- XRP: Quantity: 100
- ETH: Quantity: 0.0001
- GNT: Quantity: 1.00
- OAX: Quantity: 0.01
- START: Quantity: 0.01
The ANXPRO Fees
The company charges 0.1% to 0.2% for every transaction that you make on the platform. Deposit and withdrawal fees depend on the user status, as unverified and verified users have different options.
These are the fees for deposit:
These are the fees for unverified withdrawals:
These are the fees for verified withdrawals:
Is ANXPRO Safe?
Yes. The company is very big and it has a huge corporation behind it, so you can be pretty sure that it will use the most advanced security standards in order to make sure that the clients will be protected.
You have to use 2-factor authentication to enter on your account and the whole exchange uses 128-bit SSL encryption and state of the art infrastructure.
You can also decide if you are going to put your tokens into a cold or hot wallet. Cold storage means that the tokens are stored offline and that you will not have access to them by the internet, which means that they cannot be hacked. Hot storage gives you access with your own keys but can be accessed online.
The ANXPRO Verdict
ANXPRO is a good option, especially if you are from Hong Kong. It is a good option because it allows you to use cold storage, over the counter trading, eight different cryptocurrencies and many other options. Unless you use one of the top crypto exchanges of the market, you will probably not find a company that has considerably more options than ANXPRO.
ANXPRO has become a popular offering and its users have a loyalty few other exchanges can brag about. Putting a trading platform, mobile wallet and vault systems, OTC trading and a debit card all together to enable enthusiasts has been well met by the exchanges followers.
It is not clear what percentage of funds spent on the exchanges debit cards are original funds deposited for trade, but a large percentage must certainly come from other wallets and user caches. In granting a bitcoin-USD conversion card that essentially spends dollars with purchases, ANXPRO has opened up a route for any cardholder to transfer between wallets and spend their altcoins as if they were fiat currency.
A smart offering that sits in the upper echelons of digital exchanges, ANXPRO’s exchange perpetuates the reputation of a fairly major player in the Hong Kong fintech arena. New users are advised to peruse a few exchanges and compare fees, and those who find the company’s standard fees are acceptable can get straight into trading and availing themselves of all of ANXPRO’s peripheral pleasantries.
Easy to pinpoint as a great exchange when comparing with others, the site has found a sweet spot of minimalist yet sufficient intel, along with payment and trading options that have resonated with local and international users. Visibly cautious with users’ holdings and also visible in matters of support, the company presents as a professional digital exchange, and users could do a lot worse than trading on an elegant exchange like ANXPRO.