When it comes to crypto exchanges, there's a lot to choose from. Sure, picking an exchange can be tough with so many options available, but that's why Zoomex here. In this article, I'll walk you through everything about Zoomex, one of many crypto exchanges out there. I'm going to tell you exactly what makes Zoomex different, what it's good at, where it falls short, and help you figure out if it's the right platform for your trading.

Getting Started: What's Zoomex All About?

Since 2021, Zoomex has been making waves in the crypto exchange, founded by Amos Z and Jay Hsu. What makes it stand out? Well, you don't have to go through identity verification if you don't want to. They've grown pretty impressively, which now serving over 2 million users across more than 30 countries. Just keep in mind that if you're in mainland China, North Korea, Cuba, Iran, Sudan, Syria, or Luhansk, this platform isn't available to you.

In 2022, they made some impressive moves, partnering with Villarreal CF as their Official Crypto Exchange Partner. They didn't stop there - in 2023, they teamed up with Oliver Bearman, the Ferrari F2 driver. These partnerships show they're serious about expanding their presence globally.

Let me explain what's good and not so good about this platform. I want to be honest and give you a complete picture of what you can expect. After that, we'll also look at some areas where Zoomex could improve, because no platform is perfect. This way, you can decide if Zoomex matches what you're looking for in a crypto exchange.

Advantages of Zoomex

1. No KYC Mandatory

First up, let's talk about the no-mandatory KYC approach. While some platforms insist on identity verification, Zoomex lets you trade without it. You can withdraw up to 100 BTC daily without verification, and if you do decide to verify your identity, that limit goes up to 200 BTC.

2. Secure and Compliant

Security is a big deal here. Despite not requiring KYC, Zoomex doesn't slack on safety. They use multi-signature systems for their wallets, meaning no single person can move funds around without approval from others. They've also got two-factor authentication for withdrawals, pretty standard stuff, but important.

3. Trading Features

Derivatives trading is where Zoomex really shines. You can trade with up to 150x leverage, which is substantial. They offer two main types: USDT perpetual contracts and inverse perpetual contracts. But, what's the difference? One uses USDT for settlement, the other uses the actual cryptocurrency.

There's copy trading available. You can follow successful traders and automatically copy their moves, but only for USDT perpetual contracts. If you're good at trading, people can follow you, and you'll earn 10% of their profits.

For regular spot trading (buying and selling crypto directly), Zoomex has got you covered too. They also offer P2P trading, where you can trade directly with other users. If you want to buy crypto with fiat money, you can do that through their Express Buy feature, supporting currencies like USD, EUR, GBP, and JPY.

4. Plenty of Ways to Earn Rewards

Zoomex also knows how to keep things interesting with rewards. Zoomex runs various campaigns throughout the year, including welcome bonuses. They've got a referral program where you can earn USDT coupons by getting friends to join. Along with making welcome bonuses and referral program, participants can also earn points through deposits and trading activities. These points can be redeemed for nice rewards like USDT bonuses, exclusive jerseys, and signed merchandise.

5. VIP Bonus

If you're trading in large volumes, the VIP Club might interest you. Benefits include:

- Up to 90% off maker fees and 60% off taker fees

- Higher withdrawal limits

- 24/7 dedicated support

- Bonuses up to $1,500 USDT

- Special gifts and event invitations

- Enhanced referral program rewards

Disadvantages of Zoomex

If we’ve talked about the advantages, now it’s time to discuss the downsides. Based on my experience and other users’ reviews, the main drawback of Zoomex is that it mainly focuses on derivatives trading.

1. Focus on Derivatives Trading

This isn’t necessarily a bad thing for everyone. If you’re into derivatives trading, Zoomex can be a solid choice. It offers high leverage, a variety of crypto derivatives, and doesn’t require mandatory KYC verification. This makes it an appealing option for traders who prioritize privacy and are comfortable with high-risk trading.

However, if you’re looking for a platform that offers everything in one place, Zoomex might feel a bit limited. The options for buying crypto with fiat are not as extensive, and the spot trading pairs available are fewer compared to some other exchanges.

2. Zoomex Fees

For deposits and withdrawals, there are no deposit fees, but withdrawal fees vary depending on the asset. For example, withdrawing BTC will cost 0.0005 BTC, while withdrawing ETH requires a 0.005 ETH fee.

That’s pretty much it for the fees. One tip, though keep an eye on Zoomex events. Sometimes, they offer significant fee discounts along with other interesting rewards.

How to Sign Up on Zoomex

Signing up on Zoomex is quick and easy, taking just a few minutes. Here’s how you can do it:

1. Visit the official Zoomex website and click on the "Create Account" button.

2. Enter your email address and create a password. You also have the option to sign up using a Google account or Apple ID.

3. Check your email for a verification code and enter it in the required field.

4. Once verified, you’ll see a welcome page confirming that your account has been successfully created. From there, you can start funding your account using crypto or supported fiat currencies.

How to Deposit Crypto into Your Zoomex Account

Adding funds to your Zoomex account with crypto is straightforward. Just follow these steps:

1. Select the cryptocurrency you want to deposit, such as BTC, ETH, USDT, XRP, or EOS.

2. Choose the appropriate network, like ERC20, TRC20, BEP20, or Arbitrum.

3. Set “Funding Account” as the receiving account.

4. Copy the deposit address or scan the QR code, then send the crypto from your other exchange account or wallet. Once the network confirms the transaction, your deposit will be credited.

How to Deposit Fiat Currency into Your Zoomex Account

If you want to fund your account using fiat currency, here’s what to do:

1. In the “Spend” section, choose a supported currency and enter the amount you want to deposit.

2. Select the cryptocurrency you want to receive, such as BTC, ETH, or USDT.

3. Click the “Continue” button.

4. You’ll be redirected to a payment page, where you can enter your card details and complete the transaction.

Final Thoughts

Zoomex has carved out its niche as a privacy-focused, derivatives-trading platform that still maintains strong security standards. While it might not be the perfect choice for basic crypto trading, it offers solid features for active traders, especially those interested in derivatives. With its growing partnerships in sports, competitive fees, and responsive approach to user feedback, Zoomex continues to evolve in the crypto exchange landscape.