A couple days ago I bought Raptoreum via Graviex and had a hard time due to the low liquidity. This time I wanted to try an exchange with much better liquidity. For a buyer from the United States, that makes SouthXchange the best option.
I signed up for an account, and it was the easiest and most straightforward process of any exchange I’ve signed up for. In fact, there was so little KYC that I’d imagine that regulators will be giving them a hard time soon. Enabling 2FA was easy, since like most exchanges they use Authenticator.
When I finally got set up with a trading window, I noticed something odd. Their pinned currency at the top included Trumpcoin (TRUMP), which was down 15%. So, like its namesake, it was a worthless loser.
Funding my account was very easy because they accept Tron (TRX). Tron is one of my favorite currencies to send to an exchange because it’s fairly stable (I believe the large initial investor allocation may be a factor there), has pretty good liquidity, and has almost no transfer fees. But as I write this, it looks like TRX got a little unstable. Ah, crypto.
Exchanging the Tron for Bitcoin (BTC) was easy, and they have a very easy-to-use trading interface that isn’t very intuitive at first, but after clicking around a bit it becomes very clear and smooth.
Like my Graviex experiment, I bought about $20 worth of Raptoreum. This time I got 1997 RTM for around $19.50, which I’m pretty happy with.
I also bought 2729 Litecoin Cash (LCC) for about $40 because that also has good liquidity and a small spread.
Transferring those purchases out of SouthXchange was also easy, and hassle-free. Coins in, traded, and out in only a few minutes.
I would definitely trade on SouthXchange again, especially since I’d like to acquire more of the two coins I just bought. I did not explore their dice system, or faucets, or chat. I was just looking to trade, and the exchange does very well at that. I can almost forgive them for trying to make me think about American politics, which is only slightly more gross than watching sausage be made.