Palmex
- Overview
- Security
- User Experience
Volume 24H: N/A
Palmex is one of the first digital asset exchanges based in the Middle East and North Africa region. The professional platform makes it easy for users to buy, sell, and trade Bitcoin and several altcoins in a secure manner. One of these digital coins is DubaiCoin (DBIX), the first decentralized cryptocurrency from MENA. Palmex is available on iOS and Android mobile phones.
The Palmex trading platform is user-friendly and easy to understand, while at the same time offering an intuitive experience with advanced trading tools and charts. Currently, the trading volume is very small since the exchange is new not many traders are active. It is suitable both for beginners and experienced users from the MENA region.
Crypto Currencies Support
- BCH
- BTC
- DBIC
- DBIX
- ETH
- JNT
- LTC
Traditional Currency Support
- USD
Language Support
- Arabic
- English
Country Support
- Most Africa
- Most of the Middle East
Platforms Systems
- — Mobile App
- — Web Interface
Stock Market Options
In terms of security, Palmex offers users two-factor authentication to protect their passwords, email notification of logins and withdrawals, and cold wallet management to better secure their Bitcoin funds. The exchange uses SSL, but it is a free certificate from Let's Encrypt, which is not secure enough for such a big platform. The project is too new to have sustained any hacking attempts.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | At Least 80 Of User Funds Are Stored In Cold Storage |
The Palmex crypto exchange is a product of ArabianChain Technology FZCO, a company registered in Dubai, UAE and a leading Middle Eastern company in the Blockchain industry. Its founder and CEO is Mohammed Alsehli. The company enables governments, enterprises, startups and individuals to use Blockchain-based tools and languages and build and record their transactions and contracts on its platform.
Summary:
Palmex is a cryptocurrency exchange from the United Arab Emirates. The platform offers advanced trading tools, multiple cryptocurrency pairs, good security measures, and low trading fees. However, overall the exchange looks unfinished. The current version perhaps shouldn't be public with such functionality and design issues. The Palmex team still has a lot to do to get the platform in top shape.
| Ease of use | Intuitive |
| Transaction Fees | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee | Unknown Network Fee |
| Deposit/Withdrawal Fee For Bank Transfer | N/A |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | N/A |
| Anonymous Trading | Yes |
Deposit/Withdrawal Options:
Send/Receive Crypto
Functionality:
Palmex provides users with a competitive fee structure, high initial limits, and multiple crypto pairs. For fiat and digital coins, deposits are free, while for withdrawals there are unspecified network fees. Users can deposit or withdraw coins using the exchange wallet, but it is currently not possible to deposit USD. The platform does not offer any further details regarding payment methods.
Most common customer complaint:
— N/A