The World's Best Cryptocurrency Exchange?
No KYC. Any-to-any exchange across 39 cryptocurrencies including TON.
Found in the TonWallet exchange listing, this is a real hidden gem. Further research shows that 50X has been around for 4 years now, strong on development and technology, even if possibly weak on marketing.
Who has heard of 50X? Well, now that we have, let’s find out what it is about.
The only any-to-any exchange and NO KYC!
50X is the world’s first “any-to-any” cryptocurrency exchange. Normally, when you go onto a central exchange, let’s say to change XMR to TON, you would first have to convert your XMR to USDT, then USDT to TON.
Wasting time, and money, each exchange, there is a fee, even if small. Well, with the 50X any-any exchange, with a revolutionary new technology, or, not-so-new but well hidden and not used on other exchanges, you can change directly from any of 39 cryptocurrencies to any other of these 39 currently offered at 50X, and it doesn’t require offers within that particular pair.
They have some good educational videos which explain how this works, as well as other features of 50X.
From our research via trusted sources we can say that we have confidence in the values of the developers behind 50X, unlike other big central exchanges these guys are really about providing value in their services.
No KYC
Yes, you heard that right. No identification, no documents, no privacy invasive stuff to upload and no limitations. We’ve always wondered why these other exchanges always ask for your documents, when it is your money that you are entrusting them with. What’s up with that?!
Well, not so with 50X — they require no documentation about who or where you are, as this is not in line with their principles. Instead, you secure your account with multiple layers of security options, and use the Google Authenticator app (which also doesn’t have your ID), to authenticate access.
Exchange TON
At 50X you can exchange TON to or from 38 other cryptocurrencies, with a 0.2% fee, or a 0.1% fee if holding the A2A token — you’ll get some for free on sign up! TON was introduced onto 50X only a week ago, trading is a little slow on TON as most buyers and sellers are setting their prices rather high or low, but if you use a realistic price you’ll get a buy or sell exchange nice and fast.
Tips
Here some advice and tips based on our own testing and use of 50X.
First, sign up.
Then, use either your desktop browser (but see below about Safari) or your phone — here you can use the inbuilt browser, or find the APK to download and install the 50X app from the menu if you are using an Android.
On the phone, you may find that the trading graph with the candlesticks does not load, or does, depending, on the computer we found no issues with that.
When you place orders to buy or sell, you can drag them on the chart, or press the up or down arrows in the order book, to move your offer up or down above or below the next offer — but if you do this, be careful not to drag and drop too far, or, to click more than once without checking, or you may sell too low or buy too high. We recommend manual entry if you’re new.
Manual entry of amounts and rates: in Safari there is a problem, when you do this, the cursor may jump to the next box each time you enter a digit — if this is the case, try a different browser. 50X doesn’t seem generally built for Apple or Safari at this point in time, although it is still usable if you’re not too fussy.
As always, when you deposit funds into your exchange wallet, in this case 50X, be sure to include the reference number: this is clearly displayed on the screen, don’t forget to include it in the MEMO/comment/message box of your wallet when sending to the exchange.
We’ve found all deposits and withdrawals to and from 50X fast and reliable.
Note that 50X also has referral links so that you can earn (in ETH) if you register for their Referral Program (it’s free).
Finally, take a look around the menus: there are many features offered, including “PMA” where you follow experienced traders moves, lending and various types of trading. Be sure to also check out the videos on the 50X channel which you can reach from the menu.
We look forward to exchanging with you, especially TON of course!
Thanks for the review! This sounds like very good news! I may register to it over the weekend if I find a moment.
In the meantime, I have a couple of questions:
- Is it only crypto-to-crypto? Or does it allow for buying crypto with fiat too?
- Does it allow authentication through anything else than Google Authenticator?
Google is one of the most infamous perpetrators of both state-sponsored and privately paid mass surveillance (as reported both by mainstream and alternative media of all sorts of inclinations), so having their app know that you're connecting to that website could (eventually) undermine the benefit of not having a KYC, anonimity-wise.
And well; beyond that, I do not know which permissions the Authenticator app requires, but one could consider that installing an app from Google into your device is a violation of privacy in and of itself. Especially if it requires Google Play Services to be installed as well (not sure if it does).
Of course, this could be bypassed by using an Android emulator and a VPN, but I guess that would make exchanges a bit more cumbersome.