In the midst of numerous trading platforms including long-established ones with many years of experience and new emerging platforms with many smart functions, are Traders getting confused? Today, we would like to introduce a trading platform that, although recently launched, is increasingly being affirmed for its quality and is particularly suitable for Traders focused on Margin Trading, which is SnapEx. So, what makes SnapEx special? Registration and trading instructions, as well as some other feature guides of SnapEx, will be included in the article below.
What is SnapEx?
SnapEx is known as a platform specializing in trading derivatives of the Crypto market, focusing on providing a platform for derivatives trading of cryptocurrencies.
Owning a professional staff, SnapEx offers customers a quality, fast, and efficient trading platform. Additionally, the platform continuously innovates to serve the diverse needs of users.
Currently, SnapEx has expanded offices in many developed countries around the world: Korea, Malaysia, Japan, Singapore… and Vietnam ranks third in the list of countries with the highest traffic to SnapEx.
Advantages and Disadvantages of SnapEx
Advantages
- OTC Trading: SnapEx provides OTC buy/sell services based on merchants listed on the platform.
- Contests with attractive prizes: Not only can traders profit from investments, but they can also participate in trading contests. Prizes can reach up to $600,000 creating a lively trading environment.
- Exclusive features: SnapEx has some features that no other trading platform has, used to serve the needs and trends of users such as K-line weighted average or Zero spread and slippage. With the K-line weighted average feature, the platform compares with the average price from 4 major exchanges to ensure objectivity and honesty. The Zero spread and slippage feature keeps the buy and sell price difference at the lowest.
- Vietnamese language support.
- Available mobile app for use on smartphones.
Disadvantages
- Limited trading products: SnapEx was only recently founded and does not yet offer many types of products, but we may see more in the future.
- Fewer trading pairs compared to other exchanges: only 8 trading pairs with USDT, including BTC, ETH, ETC, EOS, XRP, LTC, ADA, BCH.
Detailed Guide on How to Register an Account on SnapEx
Here is a detailed guide to help you register a SnapEx account:
Some notes on the SnapEx interface
Before registering, you need to understand the SnapEx interface:
- Contract: The place where users perform trading of derivatives products.
- OTC: The place where users perform OTC transactions
- Invitation: The platform provides an Invitation code for each user to invite friends to participate.
- Competition: The place where users find information about contests on the platform.
- Affiliate: SnapEx’s Affiliate program allows users to promote the platform through media channels
- Assets: Where users manage Deposit, Fund, SNAP token, and Withdraw.
Account registration
You can access the SnapEx homepage to register
On the registration interface, fill in the required information and click “Submit” when finished.
KYC Verification
To proceed with KYC verification, go to “Account”. You can use email or passport.
Email verification
Select “Account”, then “Unlinked”, enter email and select “Send”.
Passport verification
Click “Verification”, fill out the required information and attach the photo then click “Submit” to send the request.
Trading and Deposit/Withdrawal Guide on SnapEx
Limit Orders
The procedures for setting orders are similar to other exchanges:
Fill in all required information including:
- Limit: Limit price
- Margin: The amount you want to trade
- Leverage: Leverage ratio
Then select ST and TP
After entering all information, choose Buy/Long order
Before executing the order, select the fee payment method, either USDT or SNAP
Click OK to start the order.
Market Orders
Market orders are similar to Limit but the platform will choose a Limit Price for you.
Depositing Money
You can deposit money into your account in two ways:
Method 1: In Assets, select Deposit
You can see your BTC & USDT wallet addresses, use these to transfer BTC or USDT into your account.
If you deposit BTC, the amount of BTC you deposit will be converted to USDT and the address shown is the USDT Ohmi wallet, so you cannot transfer USDT ERC-20 or USDT Tron.
Method 2: Use OTC or Credit card to deposit into your account
Withdrawing Money
In “Withdraw”, enter the recipient wallet address and the amount of USDT to transfer.
At the bottom of the screen, enter the SMS code
The platform will send a confirmation code to your registered phone number, enter it in the “Verification code” box and click “Confirm” to complete.
Introducing some other functions of SnapEx
Margin Trading feature on SnapEx
Since SnapEx is a derivatives trading platform, trading here involves buying and selling indices of trading pairs.
OTC feature on SnapEx
Buy USDT with Fiat
You can use Credit Card or SnapEx’s OTC Merchant
- With Credit Card
Enter the amount you want to buy, the adjacent box will convert it to the amount of BTC that can be purchased with that money. Then press “Buy”
Next, enter your Credit Card information and finally click “Submit”
-
Via SnapEx’s OTC Merchant
Two types of Merchant are allowed on SnapEx: MitchGlobaEx and SnapExOTC ERC-20.
Select a Merchant and follow their instructions to complete the transaction.
Frequently Asked Questions about SnapEx
Should you trust and use SnapEx?
Currently, SnapEx only offers derivatives products trading, which may not suit those who want diverse trading options.
However, the platform focuses on leverage trading, and such concentration helps it to improve professionalism and service quality. It also supports Vietnamese language, so Vietnamese traders can still use it effectively.
Therefore, SnapEx deserves the trust and usage of Traders.
What are the deposit/withdrawal fees on SnapEx?
The fees include:
- Transaction Fee: You pay this fee when placing orders and on-position orders, at 0.15%
- Overnight Fee: When an Order exceeds 5.00 in Vietnam, an Overnight fee is charged = Margin * (Leverage – 1) * 0.045%
- Withdraw Fee: Calculated as 10 USDT per withdrawal
What is the minimum deposit/withdrawal amount on SnapEx?
Withdrawal: You are allowed to withdraw > 50 USDT and
Deposit: You can deposit > 50 USDT or > 0.002 BTC.
How to contact support?
On the platform interface, you can use the chatbox below to send messages to support staff. Alternatively, you can join the user community to communicate with staff.
Conclusion
The above article provides you with basic information about SnapEx: What is SnapEx; advantages and disadvantages; registration, deposit/withdrawal, and trading instructions; some other commonly used functions; and other frequently asked questions about SnapEx. Hope this article provides the information you are looking for and helps you.
