T-Rex is a popular cryptocurrency trading platform that has gained attention due to many outstanding features, launched and appeared recently in a short period of time. Let’s explore what T-Rex is and its advantages and disadvantages through the following article!
What is T-Rex Platform?
T-Rex is a prestigious OTC cryptocurrency exchange built and developed on an open-source peer-to-peer platform in Vietnam.
The platform is licensed to operate in Estonia and currently supports cryptocurrencies like BTC, ETH, and USDT.
Evaluation of T-Rex Platform
Advantages
Although newly established, T-Rex platform possesses the following outstanding advantages:
- Supports Vietnamese language and a variety of other languages
- Supports multiple interface platforms, including mobile applications on Android and iOS
- Over 80% of user assets are stored in cold wallets, ensuring high security
- Supports trading and buying/selling of cryptocurrencies via 23 banking systems and e-wallets, including VPBank, Techcombank, Vietcombank, Zalo Pay, Momo, etc.
- Has a T-Rex Academy established to organize training programs and knowledge enhancement about investing in the crypto market for investors, especially beginners.
Disadvantages
- Lacks a wallet supporting VND storage and has not yet reached a broad user base.
Key milestones marking the rapid growth and success of T-Rex
Here are some milestones that highlight the rapid development of T-Rex:
- In March 2018, T-Rex developed the idea for version 1.0 of the cryptocurrency trading platform system.
- In May 2018, the company behind the platform, T-Rex Global Enterprise, was registered and headquartered in Singapore.
- June 2018 marked a success milestone with the first negotiation round with technology development partners and the establishment of an additional branch in Estonia.
- August 2018, T-Rex raised investment from a Japanese group, Rachel Limited.
- By September 2018, the platform obtained an operating license in Estonia.
- October 2018, the platform successfully upgraded to version 2.0, incorporating advanced technologies implemented in major exchanges worldwide. November 2018 saw successful fundraising negotiations with the Japanese group, Ra Trêu Limited.
- December 2018, signed a contract for liquidity system integration for OTC and C2C trading systems.
- January 2019, officially launched the T-Rex trading system.
- March 2019, received an operating license for exchange activities in Estonia.
- April 2019, T-Rex released to the investor community.
- Q1 2020, launched the international payment method T-Rex Incubator.
Some products of T-Rex cryptocurrency exchange
Fiat Trading
- Users can execute investments, buy/sell, and convert from fiat money to cryptocurrencies with competitive fees supported by various banks and popular e-wallets.
- Additionally, users can assess and select reputable traders through features that display detailed information about the transaction counterpart’s identity.
T-Rex Escrow Trading
The T-Rex Escrow Trading is a secured OTC cryptocurrency buying/selling solution developed by the T-Rex team to benefit users, reduce risks in OTC trading, specifically:
- Safe with coins stored in a secure escrow system, with the best security measures, regularly upgraded and updated.
- Simple to use, requiring only a phone number to perform Escrow transactions with five simple steps without complicated processes.
- Buyers can actively request verification or not by partners during transactions.
Steps to create T-Rex Escrow secured transactions
To create secured transactions, just follow these five steps:
- Step 1: Verify mobile number
- Step 2: Initiate transaction
- Step 3: Fill in payment information
- Step 4: Deposit coins into T-Rex escrow wallet
- Step 5: Complete transaction after receiving payment from the partner.
T-Rex Academy
Provides knowledge and useful information about the crypto market and Blockchain system for users.
Create trade advertisements
Users can create trade advertisements on T-Rex platform to facilitate smoother transactions, buy/sell operations, as the ads will be visible to other users who access the platform’s website.
Transaction Fees
Minimum withdrawal limits on T-Rex:
- 5 USDT
- 0.0002 BTC
- 0.005 ETH
Transaction fees on T-Rex:
- Trading fee: 0.5% of the total trading volume, applied to users who select advertising, while ad creators do not pay fees.
- Deposit fee: Free
- BTC withdrawal fee: 0.0002 BTC per transaction, ETH: 0.005 ETH, Tether: 5 USDT per transaction.
Although the promotional campaign has ended, this article provides information on fee reduction programs for all three types of BTC, ETH, and USDT, from October 15, 2019, to April 15, 2020, applied to these account types:
- Free trading and deposit fees for reputable accounts
- Free trading and deposit fees for accounts that complete KYC verification
- 0.5% trading fee for unverified KYC accounts even if registered.
Verified wallet addresses for BTC, USDT, and ETH on T-Rex:
- BTC wallet address: https://blockchain.info/en
- USDT wallet address: https://omniexplorer.info
- ETH wallet address: https://www.etherchain.org/blocks
Guide to registering Bitcoin on T-Rex platform
Pre-registration procedures
Before registering an account on T-Rex, prepare the following documents and procedures:
- Photos or scans of ID documents (passport, national ID, citizen card)
- Your email address
- Download and install Google Authenticator app on your mobile device if not already installed
- Prepare at least one bank account from the supported list of 23 banks and e-wallets
Guide to registering an account on T-Rex platform
Follow these steps to register an account:
Step 1: Access https://www.t-rex.exchange/
Step 2: Click “Sign Up” at the top right corner and enter your email address
Step 3: Enter the 6-digit verification code sent to your email
Step 4: Fill in the details on the new interface:
- Verify your phone number and select Vietnam as your country, then enter the code sent via SMS and confirm
- Create a strong trading password and enter a 6-digit confirmation code, then click confirm
- Verify identity by filling in full name, date/month/year of birth
Step 5: Proceed to Identity Document Upload. Select the ID type (passport, ID card, or citizen card), upload a photo or scan, then complete
Step 6: Select payment method to fully utilize T-Rex platform features, typically through a bank account
Step 7: Fill in bank account details for transferring/withdrawing from T-Rex account:
- Bank Name
- Full Name
- Bank Address
- Bank Account Number
- Trading Password
- Scan QR Code with Google Authenticator to enable 2FA security
Transferring Money on T-Rex
The T-Rex exchange does not yet support VND wallets, so users needing to transfer money from bank accounts to T-Rex trading accounts must convert and conduct transactions via Crypto.
Deposits/Withdrawals from T-Rex accounts
Depositing Bitcoin
To deposit BTC into T-Rex, follow these steps:
- Step 1: Go to “Balances” in your account
- Step 2: Select BTC and click “Deposit” to view your Bitcoin wallet address
- Step 3: Transfer BTC from your personal wallet to the displayed address
- Step 4: Wait for the BTC to arrive in your T-Rex account to complete the transaction
Withdrawing Bitcoin to your personal wallet
Follow these steps:
Step 1: Go to “Account Balance”
Step 2: Select BTC and click “Withdraw”
Step 3: Fill in the required withdrawal information:
Your personal wallet address
The amount of BTC to withdraw
Click “Send” to execute the withdrawal
Step 4: Enter the verification code from Google Authenticator on your mobile to ensure security during the transaction.
Conclusion
This article introduces what T-Rex platform is and the latest useful information related to it. Hope it will be helpful for you, and wish you success in the Crypto market.
