Introduction to Zoomex: A Newbie’s Guide
Crypto exchanges are crucial to cryptocurrency trading and investment. Among the numerous options available to traders and investors, Zoomex has emerged as a notable choice due to its innovative features, high liquidity, and user-friendly interface. It aims to cater to a diverse range of traders and investors with varying levels of expertise.
Since its inception in 2021, Zoomex has been dedicated to providing a secure and compliant platform that emphasizes privacy. This article will explore the various aspects of the exchange. Below is an outline to guide your navigation through this guide:
- What is Zoomex?
- How to Deposit Crypto on Zoomex
- How to Withdraw on Zoomex
- What is Zoomex DEX?
- Why Choose Zoomex?
- What are Zoomex Games?
- Zoomex Copy Trading
- Frequently Asked Questions (FAQs)
- Conclusion
What is Zoomex?
Zoomex is a crypto exchange that enables millions of users worldwide to buy, sell, store, and trade digital assets without undergoing a mandatory know-your-customer (KYC) procedure. The exchange boasts over 2 million users across 30 countries, highlighting its rapid growth and widespread acceptance within the crypto space.
Zoomex employs an innovative framework that allows users to choose between centralized and decentralized exchanges based on their preferences. The centralized exchange (CEX) prioritizes trust and security, much like other centralized platforms. In contrast, the decentralized exchange (DEX) removes the need for an intermediary, allowing users to interact directly with the ecosystem’s smart contracts, thereby enhancing anonymity.
Furthermore, the platform allows users to purchase cryptocurrencies with fiat currencies via Onramper, a fiat-to-crypto on-ramp aggregator that facilitates transactions through channels like MoonPay, Alchemy Pay, Simplex, Banxa, Visa, and Mastercard, among others.
The exchange offers different trading services, including spot trading, derivatives trading with over 300 perpetual contracts, copy trading, and decentralized exchange options, catering to beginner and experienced crypto traders.
Zoomex has some of the industry’s lowest fees, with trading fees of 0.02% for makers and 0.06% for takers. Additionally, the exchange supports high leverage up to 150x in some tokens, allowing users to adjust leverage to match their trading preferences and risk appetite.
Zoomex’s platform is accessible via both web and mobile versions, with the mobile app available on Android and iOS devices. Since the exchange does not require KYC, the registration process is simple; users need only email verification and a password to commence trading activities.
How to Deposit Crypto on Zoomex
Users must fund their crypto accounts before accessing Zoomex’s suite of products. There are several ways to buy crypto on Zoomex. This guide will focus on funding a Zoomex account through the Deposit feature on the mobile app. This feature enables users to transfer crypto assets from an external crypto exchange or wallet into Zoomex. Below is a step-by-step process to transfer USDT from Binance to Zoomex:
Step 1: Open “Deposit” on the home screen, as shown in the image below:
Step 2: Select the preferred asset, network, and receiving account. This section will focus on USDT as the deposited asset, ERC20 (Ethereum network) as the underlying network, and the Funds Account as the receiving account. The image below illustrates this:
Step 3: Copy the wallet address.
Step 4: Open the Binance app. Navigate to the Withdraw section and select “Send via Crypto Network” for the desired crypto, as shown in the image below:
Step 5: Paste the wallet address, choose the appropriate network, and input the withdrawal amount. Users must ensure they have enough funds to cover the gas fees paid to the network for transaction settlement.
Step 6: Finally, click the “Withdraw” button, and the withdrawal request will be processed on the Binance app. The underlying network determines the speed at which the transaction is completed. Once the transaction has been confirmed on the blockchain, the Zoomex account will receive the USDT deposit.
How to Withdraw Crypto on Zoomex
Withdrawing crypto from Zoomex follows a similar pattern to most crypto exchanges. Users must pass email and Google’s 2FA Authentication to bolster security before using the withdrawal feature. Hence, users must bind these features to their accounts before proceeding. Here’s a step-by-step process to withdraw your funds from the crypto platform using the mobile app:
Step 1: Enter the recipient wallet and copy the wallet address for the desired crypto. In this case study, USDT will be chosen. The underlying network will be ERC20, the token standard for the Ethereum network.
Step 2: Navigate to the Assets page and select “Withdraw,” as shown in the image below:
Step 3: You must choose between processing “On-chain withdrawal” and “Internal platform transfer.” Use the on-chain withdrawal option to send the funds to an external wallet or exchange.
Step 4: Select the desired cryptocurrency to withdraw. USDT is the crypto used in this example.
Step 5: From the withdrawal page, users will select the appropriate network, paste the wallet address from the recipient wallet, and input the withdrawal amount. Finally, click the Withdraw option as shown in the image below:
What is Zoomex DEX?
Zoomex DEX is a decentralized exchange feature within the Zoomex ecosystem. A DEX is a peer-to-peer (P2P) marketplace where users can perform transactions without intermediaries. This is enabled through smart contracts, a set of digital programs with predefined tasks.
Zoomex DEX was launched as an extension of Zoomex CEX. It is built on the technology and services of the centralized part of the platform, providing a seamless transition into decentralized trading. Zoomex introduces the DEX capability to provide users with a more secure, transparent, and flexible trading experience than the CEX variant. With this feature, users can keep control of their private keys and assets, improving security and transparency.
Despite its unique characteristics, Zoomex’s decentralized section shares central trading and liquidity features with the CEX feature, ensuring strong liquidity and minimal transaction slippage. Both sections offer the same high-leverage trading (up to 150x for some trading pairs) and an easy and fast trading experience. However, unlike Zoomex CEX, the DEX only supports USDT perpetual contract trading.
Here are the key features of Zoomex DEX:
Smart Contract Integration: Transactions are completed using smart contracts, which increase transparency and eliminate the need for third parties.
Direct Wallet Integration: Users can trade directly from their digital wallets, giving them complete control of their funds. There is no need to use a different app for Zoomex DEX or CEX.
Enhanced Security Protocols: The platform employs privacy technology to ensure transactions and user data remain untraceable. This feature aims to reduce the risk of hacks and security breaches, as assets are not held on the exchange.
User-Friendly Interface: The DEX is designed to be intuitive and easy to navigate, catering to beginners and experienced traders.
Why Choose Zoomex?
Zoomex offers numerous benefits that set it apart from competitors. These include:
No KYC Required
One of Zoomex’s standout features is that it does not require users to undergo a KYC process, thereby ensuring user anonymity. KYC is an identification process and an additional security layer mandated by most crypto exchanges. It requires users to provide personal information (such as full name and address) and confirm it with an ID, proof of address, or other documents before accessing the platform’s features.
KYC originated from traditional financial institutions, and many crypto traders believe it contradicts two core principles of the crypto world: decentralization and anonymity. For traders seeking an exchange that does not mandate KYC, Zoomex is an ideal choice.
Zoomex prioritizes user privacy by forgoing KYC verification, which is increasingly crucial in today’s era of data centralization and security concerns. With its strong commitment to user anonymity, Zoomex distinguishes itself from competitors, enabling novice and seasoned traders to remain anonymous while accessing the platform’s comprehensive trading tools and features.
However, KYC verification is required for users who wish to withdraw more than 100 BTC daily. Completing KYC verification increases the daily withdrawal limit to 200 BTC.
Solid Liquidity
Zoomex’s robust market-making (MM) capabilities provide ample liquidity for efficient trading. By offering top-tier liquidity, the exchange aims to reduce volatility and achieve tighter spreads, which minimizes slippage and facilitates more accessible entries and exits for users.
Additionally, orders will fill faster, enhancing price discovery and increasing market confidence. Even in highly volatile market conditions, Zoomex guarantees stability, allowing users to trade crypto consistently at the most favorable prices.
Commitment to Security and Compliance
Zoomex prioritizes the safety of users’ funds through stringent security measures and regulatory standards. It is important to note that no KYC requirement does not mean that an exchange is unsafe to use.
To demonstrate its commitment to protecting users’ funds, Zoomex implements multi-signature cold and hot wallet systems. This means that a significant portion of users’ funds is stored securely offline, making it less vulnerable to hackers. Additionally, multi-signature technology ensures that no single person within the company can unilaterally move funds, requiring multiple approvals for any transaction. This significantly reduces the risk of internal fraud.
The exchange also guarantees that it maintains sufficient reserves to cover user transactions, ensuring liquidity and boosting reliability. Both funds and reserves are meticulously documented, ensuring transparency and building user trust. This practice reassures users that their assets are secure and that the platform can handle withdrawal requests quickly.
Zoomex requires users to confirm withdrawals through email verification and Google Authentication (2FA) for added security. This two-step authentication process adds an extra layer of protection, making it significantly harder for unauthorized individuals to access or withdraw funds from user accounts.
Zoomex has been actively applying for licenses from various countries and organizations to ensure legitimacy. It holds the Canada MSB license issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This license makes Zoomex regulatory compliant, enhancing consumer trust and confidence. It also provides the platform with increased credibility, broader market access and expansion, and a competitive edge.
The exchange has even received a certificate of security excellence issued by Hacken this month.
Responsive to User Feedback
Zoomex takes pride in its customer-centric approach and continuously enhances the platform based on feedback from surveys and reports. For example, the platform recently made several updates to its app in response to customer suggestions.
The crypto exchange offers 24/7 multilingual customer support to help users with security issues. This constant support ensures users can get help whenever needed, increasing the platform’s reliability and security. Such responsiveness can set an exchange apart in the crypto world, where customer service is often lacking.
Diverse Events and Generous Rewards
Zoomex offers various engaging campaigns to attract and retain active users. These events include welcome bonuses, trading challenges, and global competitions that unite the exchange’s community across social platforms.
Special events, such as World Cup, Euro Cup and the current Olympic promotions, allow participants to earn points by predicting the outcomes of soccer matches. The platform also offers exciting giveaways, such as Tesla distributions.
Along with making predictions, participants can also earn points through deposits and trading activities. These points can be redeemed for rewards like USDT bonuses, exclusive jerseys, and signed merchandise.
Additionally, Zoomex offers a rewarding referral program that lets users earn USDT coupons, also known as U bonuses, simply by inviting their friends to join the platform. When users’ referrals become active traders, they can earn these bonuses, which can be used in several ways. For instance, the beneficiary can use the U bonuses as a margin for your trades, to cover any trading losses or to reduce your derivatives trading fees.
Overall, Zoomex offers vast opportunities to earn rewards. Whether you participate in their latest promotions, play engaging games, or take advantage of the referral program, there’s always something exciting happening on the platform.
Zoomex Native Token
Unlike competitors who launched tokens quickly at the start of their ventures, Zoomex has taken a more strategic approach.
After three years of honing its platform and building a robust community, Zoomex will launch its native token in 2024 amidst favorable market conditions. Users will get exclusive early access to the token launch details and potential use cases.
What are Zoomex Games?
Another feature users can enjoy at Zoomex is its gaming hub, which offers several earning opportunities. Three unique games designed to entertain and reward players are To The Moon, 1 USDT Treasure Hunt, and Lucky Draw.
The multiplayer crypto game ‘To The Moon’ features an ever-increasing curve that can crash any moment, adding thrill and excitement. It boasts of maximum winnings of 5000X return.
The 1 USDT treasure hunt is another active event at Zoomex’s gaming center. You can deposit up to 0.1 BTC and earn 100 treasure tickets whenever you refer a friend to register or participate in a treasure hunt. Moreover, you receive 100 Treasure Coupons for every 1000 USD deposited and earn 100 Treasure Tickets for every 20,000 USD transaction. To ensure fairness in the game, Zoomex has limited the total number of treasure tickets or coupons that can be accumulated to 1000.
Zoomex’s Lucky Draw (Z-Lucky Draw) is another game within the crypto exchange’s interface. In this game, users receive rewards for specific tasks. The game for the current period had concluded at the time of writing.
Zoomex Copy Trading
Zoomex’s copy trading feature enables beginners to benefit from the expertise of experienced traders with a proven track record of profitable trades. By leveraging the strategies of top-performing traders, users can enhance their trading outcomes without requiring extensive market knowledge.
To help users find the best traders to follow, Zoomex provides a list of traders, each displaying their weekly win rate, profit, number of followers, and followers’ profit gains. This setup allows users to make informed decisions and start their trading journey by emulating the strategies of successful professionals, potentially leading to profitable outcomes with greater ease.
With this feature, Zoomex aims to foster a dynamic community where investors worldwide can interact, collaborate, and grow. The copy trading feature offers transparency and flexibility, allowing novice and seasoned traders to benefit from experts’ strategies and optimize their investment results.
Key features of Zoomex’s copy trading include:
- Support for all USDT futures trading pairs.
- Leverage up to 30x:
- Generous copy trading limit of up to $50,000
- Industry-leading trading depth and liquidity
- Consistent fee structure
- Fixed ratio and order capabilities
Additionally, Zoomex offers a lucrative opportunity for professional traders to apply to become master traders. Master traders can earn up to 10% of the net profit generated by their followers with daily settlements.
Beyond copy trading, Zoomex also provides spot trading, enabling users to buy and sell cryptocurrencies for immediate delivery.
The exchange also has a VIP Club, which offers exclusive benefits with 5 different levels.
Frequently Asked Questions (FAQs)
Is Zoomex Safe?
Zoomex implements several robust security measures to ensure the safety of its users’ assets. One such measure is the use of multi-signature wallets for storing funds. This technique requires multiple approvals for a transaction to prevent unauthorized access.
The platform utilizes cold and hot wallet systems to secure user funds and regularly enhances its asset protection protocols to guard against external threats. Zoomex also offers a DEX for users concerned about the risks associated with centralized exchanges.
In addition to these measures, Zoomex employs advanced security methods to maintain platform integrity, including real-time monitoring and analysis to promptly detect and respond to suspicious activity.
Can I Use Zoomex Without KYC?
Zoomex is committed to ensuring complete privacy for its users by not requiring KYC during account creation. This means traders can start trading their preferred assets without lengthy verification procedures. Users can quickly access the platform and begin transactions, enjoying convenience and privacy.
Zoomex vs. Binance: What’s the Difference?
Although both are crypto exchanges, Zoomex and Binance differ in several aspects, including trading fees, withdrawal fees, deposit methods, number of supported cryptocurrencies, and trading options. However, unlike Binance, Zoomex does not require users to provide personal data during registration.
Furthermore, Binance was founded in 2017, while Zoomex started operations in 2021.
Does Zoomex Have a Mobile App?
Yes, Zoomex has a mobile app for iOS and Android on Google Play and the App Store. The app provides the same features as the website, allowing users to trade, manage funds, and access customer support.
Conclusion
This guide has outlined Zoomex’s offerings for both novice and experienced investors. With its emphasis on user anonymity, Zoomex stands out for allowing traders to benefit from its features without compromising their personal information, unlike many other exchanges.
However, despite Zoomex’s many benefits, new users should conduct thorough research to ensure the platform meets their investment needs.
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