Cryptocurrency Exchange Simex Global: Detailed Review and Analysis
According to CoinMarketCap data, there are currently over 200 cryptocurrency exchanges in operation. Studying each of them may prove to be a challenging task, but we are making an attempt! Today, we will take a closer look at another player in the post-Soviet space – the cryptocurrency exchange and investment platform Simex Global.
What is Simex Global?
The company Simex is not only a cryptocurrency exchange but also an investment platform.
As an exchange, Simex allows users to exchange cryptocurrency and fiat money directly with each other. As an investment platform, it provides the opportunity to invest funds in offline business projects.
The following information is presented on the main page of the official website simex.global:
Let’s take a closer look at the features of each aspect of the platform.
The cryptocurrency exchange Simex operates on a P2P (peer to peer) model, allowing users to exchange fiat funds and cryptocurrency directly with each other, without intermediaries.
Developers highlight the following advantages of Simex:
- Low fees: The trading fee is 0.1% per transaction.
- P2P exchanges and transfers: Allow assets to be sent worldwide to other exchange users by their ID, email, or phone number.
- ICO marketing support: Provided for a fee.
- Ability to deposit and withdraw fiat funds: Supports USD, EUR, GBP, JPY, RUR, and offers bank transfer as well as Visa and MasterCard cards.
- Interexchange arbitrage: Simex displays prices for over 1500 tokens from major global exchanges.
- Black Master Card: The MasterCard card allows for funding and withdrawing funds from the exchange account.
- Token listings: Allows potentially attracting the attention of blockchain developers.
The investment platform Simex provides the opportunity to invest in offline businesses. Projects undergo a rigorous selection process, including analysis of legal and technical documents, as well as user voting.
Advantages of the investment part of the platform include:
- Low initial investment: Often, even $1 is enough to enter a project.
- Verified projects: Some projects’ actual activities raise doubts.
- Ability to sell a stake in the project: Allows investors to exit the project if desired.
- Support for various payment methods: Contains detailed instructions for depositing and withdrawing funds.
Funding/Withdrawal Process and Trading
Please note that deposits, withdrawals, and trading are available only after verifying your account.
Depositing funds: Go to the “Finance” section -> “Deposit” and select the desired currency for deposit.
Withdrawing funds: Click on “Withdraw” and enter the amount and recipient’s address.
To start trading, you need to go to the “Trading” section on the Simex platform.
Contact Information and Licenses
Simex Global is based in Las Vegas, USA, and holds a license from the state of Nevada.
The company is also represented in Moscow, Russia.
Conclusion
Founded in 2015, the Simex Global exchange remains relatively unknown today, despite its presence in the TOP 20 companies by trading volume according to CoinMarketCap. Undoubtedly, this is an important factor, but the investment part of Simex raises certain doubts. Some projects may show signs of insufficient development or even fictitiousness. The recommendation to use this platform remains at the discretion of the user, considering both the positive and negative aspects identified during the analysis.
