Fast, secure and real-time cryptocurrency exchange platform for bitcoin and other digital currencies.
What is SouthXchange?
SouthXchange is an Argentinian cryptocurrency exchange. It launched in 2015.
PRO-Systems created and manages this exchange. PRO-Systems is a company incorporated under the laws of Argentina. It is allegedly a team of “highly trained software engineers” that operates the exchange. It has been involved with cryptocurrencies since 2012. This exchange platform is – according to PRO-Systems – created to be secure, simple and usable.
The exchange prides itself on being selected Best Crypto Exchange in South America in the ADVFN International Financial Awards 2019.
The platform promotes four reasons on its website to why someone interested in opening an account with a trading platform should choose SouthXchange. They say that it is secure and has low fees. They also say that it presents real-time data and finally that the platform is mobile friendly. We feel that all of these advantages are important in the choice of exchange. However, we are a bit hesitant to the statement that SouthXchange has very low trading and withdrawal fees. 0.30% taker fees are even above industry average (read more on the fees below in this review).
SouthXchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
SouthXchange Withdrawal fees
SouthXchange's withdrawal fee is 0.0001 BTC per BTC-withdrawal. This fee is far below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.00053 BTC per BTC-withdrawal, so 0.0001 BTC per BTC-withdrawal is a low consumer-friendly fee.
This trading venue offers both wire transfers and credit cards as a deposit methods. Credit card deposits are possible via Indacoin.
Seeing as fiat currency deposits are possible at this trading platform, SouthXchange qualifies as an “entry-level exchange”, making it possible for new cryptocurrency investors to take their first steps into the cryptocurrency world here.