AlphaX DEX Review 2024

Thinking about trading at AlphaX? We’ve just spent the last few weeks examining it and are ready to share everything about this DEX.

In our AlphaX review, you’ll get to find out all about the platform’s trading options, fees, and features and learn how to effortlessly deposit and withdraw. We’ll also explore the exchange’s safety and user-friendliness.

What Is AlphaX?

AlphaX is a decentralized cryptocurrency exchange where you can trade future perpetuals (no spot trading) on over 200 cryptocurrency pairs. Unlike a centralized exchange, AlphaX doesn’t require you to share any personal information or undergo Know Your Customer (KYC). You can deposit, trade, and withdraw anonymously just by connecting your wallet.

As AlphaX is a DEX, you don’t have to entrust the exchange with your crypto assets. Instead, they are stored in on-chain smart contracts, and you can conduct private transactions with users.

Many DEXs require you to connect your MetaMask or TrustWallet, to start using the platform. AlphaX stands out in this regard you can sign up with just an email address.

However, if you’d like to join using an existing wallet, just link your WalletConnect, OKX Wallet, or MetaMask wallet and deposit via USDT. You can then benefit from AlphaX’s great market depth, with up to $1,000,000 orders being easily absorbed with less than 0.1% slippage.

USDC deposit support will be introduced on the 20th of September, 2024.

Tradable Cryptos on AlphaX

You can trade over 200 cryptocurrencies on AlphaX, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Binance Coin (BNB)
• USD Coin (USDC)
• XRP (XRP)
• Cardano (ADA)
• Dogecoin (DOGE)
• Solana (SOL)
• TRON (TRX)
• Polkadot (DOT)
• Polygon (MATIC)
• Litecoin (LTC)
• Shiba Inu (SHIB)
• Dai (DAI)
• Wrapped Bitcoin (WBTC)
• Avalanche (AVAX)
• Chainlink (LINK)
• Stellar (XLM)
• Bitcoin Cash (BCH)
• Uniswap (UNI)
• Monero (XMR)
• Toncoin (TON)
• Ethereum Classic (ETC)

AlphaX Security

As AlphaX is a DEX, it’s far more secure than a typical centralized exchange because you don’t have to entrust them with storing your crypto. Here are some of AlphaX’s key security features:

1. Decentralized Platform

AlphaX doesn’t collect or store any of your personal information. You simply connect your anonymous wallet and use it to deposit and withdraw. Due to the design of AlphaX, KYC and data leaks aren’t physically possible.

Even when you deposit and trade at AlphaX, you remain in control of your digital assets because your crypto is stored in on-chain smart contracts. AlphaX never takes control of your crypto and, therefore, can’t misuse it.

Contrast this with centralized exchanges, where you literally give the exchange your crypto and hope they securely store it and honor withdrawal requests.

2. Self-Custody Wallets

All your crypto assets at AlphaX are stored in self-custody wallets. You have direct ownership at all times. Before any transactions can occur, you must physically log in to your wallet and sign the transaction.

3. On-Chain Transparency

Every single transaction made at AlphaX is recorded on the blockchain. You can access these transactions at any time, and it’s virtually impossible for them to be altered, meaning you can have a reliable track record of all your trading and all users’ activities at AlphaX.

4. Audits By Cybersecurity Professionals

AlphaX was audited by Fuzzland smart contract auditor, who conducted static analysis, fuzz testing, invariant development, invariant testing, formal verification, and manual code review. During its extensive investigation, Fuzzland found zero issues that affect AlphaX’s security in any way.

5. Poor Target For Hackers

AlphaX is incredibly difficult to hack, and even if hackers were able to breach the platform’s security, there is a limited amount of crypto they would be able to steal.

Due to this, hackers have recognized that attacking DEXs like AlphaX is way more trouble than it’s worth. Instead, they focus their attention on centralized exchanges, where thousands of Bitcoins can be stolen with far less effort.

Don’t just rely on AlphaX’s security to protect your cryptocurrency. You should also take the following actions to further safeguard your digital assets:

• Create strong passwords — Don’t use names, common strings of numbers, or anything related to your birthday. Passwords should always be a random combination of letters, numbers, and symbols.
• Enable two-factor authentication (2FA) — You should secure all of your accounts, from email to crypto wallet, with 2FA because it seriously reduces your chances of being hacked. In fact, it’s estimated that 2FA can prevent up to 80% of cyberattacks.
• Securely store your private keys — If someone gets access to your private keys, they can seize your crypto. For that reason, you should never store your private keys on an online or unencrypted device. Instead, write them down on paper and place them in a safe or safety deposit box.

Features, Analysis & Trading Tools

The AlphaX platform is more than a place to trade cryptocurrency — it’s a trading ecosystem loaded with features such as:

Trading Over 200 Perpetual Futures Pairs 

AlphaX offers perpetual futures trading with up to 125x leverage. Perpetuals are a special kind of futures contract that never expires, so you never have to worry about rolling them over. They essentially trade just like the spot market.

Also, all trades at AlphaX are settled in Tether (USDT), so you can protect your digital assets from market swings, which is a huge advantage over other perpetual futures trading platforms where trades are settled in Bitcoin. You’ll never have to face a situation where you have made a winning trade but have actually lost money because the BTC price has tanked.

Strong Market Depth

While decentralized exchanges sound good in theory, most of them have very few users and can’t absorb large orders. So, if you want to trade size, you are forced to use centralized exchanges with daily trading volume measuring billions of dollars.

Fortunately, that’s not the case at AlphaX. As said, this DEX prides itself on offering $1,000,000 BTC market depth with only 0.1% price slippage.

Email Address Login

Signing up at and using AlphaX has just got a whole lot easier, thanks to the introduction of the email log-in feature. You simply enter your email and the activation code, and your account is fully set up.

Advanced and Simple Orders

AlphaX gives you total control over your trading by offering a variety of order types. You can hit the buy button and take whatever market price is available or come up with a more strategic plan by setting limit orders, stop losses, and take profit orders.

You can even set trailing orders, which are perfect for catching sharp upward moves while ensuring you exit your trade with a profit.

Referral Program

At AlphaX, you get your own referral link. When someone registers at the DEX via your link, you’ll receive up to 50% of the user’s trading fees. There is no limit on the number of people you can introduce to the platform, nor are there any caps on commissions. All commissions are paid out daily.

You’ll receive a personal account manager, score invites to exclusive events, and have access to a detailed dashboard where you can track all of your sign-ups and commissions.

Is AlphaX User-Friendly?

AlphaX is one of the most user-friendly DEX platforms we’ve encountered. You can sign up just using your email and easily kick off the trading process, as AlphaX is integrated with MetaMask, OKX Wallet, and WalletConnect.

We were able to connect our crypto wallet within seconds by simply downloading and opening the AlphaX app, then clicking DEX, Connect Wallet, and Confirm under our OKX Wallet, which AlphaX automatically found.

Numerous AlphaX reviews also highlight that it is incredibly easy to deposit and withdraw. You just hit the corresponding buttons and enter the amount of USDT you wish to transfer, and within seconds, the crypto will arrive in your AlphaX account or connected crypto wallet. USDC will soon be supported too, making it easier to start trading on the platform.

Mobile Experience

As well as a browser and desktop version, AlphaX offers a dedicated mobile app that you can download from the App Store or Google Play. During our review of AlphaX, we were impressed at how smoothly it ran. There is a search function that will instantly find the trading pair you’re after. Live chat customer support can be reached via one button.

We also discovered the AlphaX app is very easy to trade on. The order book is updated in real-time, and even though you can set all kinds of orders like limit sell, profit take, and trailing stops, the interface is not cluttered.

AlphaX Payment Methods

As AlphaX is a DEX, it only enables you to deposit, trade, and withdraw cryptocurrencies. Currently, the only crypto you can deposit and withdraw at AlphaX DEX is:

• Tether (USDT)

However, support for USDC deposits will be introduced on the 20th of September, 2024.

AlphaX Customer Support

The AlphaX platform features an extensive FAQ section with a search function that’ll track down the answers to your pressing questions. If you can’t find the information you’re looking for, AlphaX also hosts a chatbot.

In our experience, the chatbot isn’t that helpful and won’t provide much more information than the FAQ section. However, you can connect with customer support agents who can quickly solve complex issues, and we found them to be very knowledgeable.

Thankfully, live chat support is available 24/7 and you can also reach out in the official Telegram support channel.

The platform is also available in 4 languages: English, German, Spanish, and Russian, making it suitable for a wide global audience.

AlphaX Roadmap

AlphaX’s goal is to balance decentralization with user experience to create a trading platform that provides both security and a smooth and simple user experience that traders are used to at centralized exchanges. To achieve this goal, it has laid out the following development plan:

1. Stage One: Asset On-Chain Integration

The goal of stage one is to protect all users’ cryptocurrency assets by storing them in decentralized smart contracts. They physically stop hacking and prevent anyone at AlphaX from gaining access to cryptocurrency. The assets will be stored transparently, and AlphaX will always retain a 100% reserve ratio.

2. Stage Two: Order On-Chain Integration

Stage two is all about enabling users to effortlessly trade cryptocurrencies via on-chain smart contracts. To achieve this, on-chain and off-chain actions need to be blended together. For example, order matching and liquidity provision can only be done off-chain.

At the same time, certain aspects of trading, like funding cost settlements and post-match fund settlements, can take place on-chain.

By combining these processes, users can buy and sell futures and transact without giving control of their digital assets to a third party.

3. Stage Three: On-Chain Trading Engine and Liquidity

In stage three, AlphaX seeks to balance security and user experience by relying on on-chain processes for as many operations as possible without jeopardizing security by adding off-chain processes.

AlphaX is committed to new technology via application-specific blockchain, and it incorporates AMM mechanisms to create a market-leading trading platform.

Conclusion

AlphaX makes decentralized finance (DeFi) accessible to everyone. You can connect your wallet and start trading over 200 cryptocurrencies within seconds with up to 125x leverage. Fees start from just 0.02% per transaction, and you never have to worry about KYC.

If you want to trade cryptocurrency anonymously while always maintaining control over your digital assets, sign up at AlphaX DEX and join the DeFi revolution!

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