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Last update 08.02.2022 14:30
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Should we trust Vircurex cryptocurrency exchange platform?

Ups and downs of Vircurex exchange

The well-being of a trader begins with a good deal. This is what he is looking for from morning till night. However, many traders forget about such important thing as the choice of a marketplace playing a huge role in trader’s success. Without a reliable exchange all your plans are ruined no matter how hard you try. Therefore Vircurex review begins with this precaution.  Think twice before you log in to Vircurex to convert currency. Should it be trusted?

Vircurex is a popular exchange that was based in Bejing in 2011. Vircurex exchange offers numerous virtual currencies to its customers. The platform enables deals with fiat money and altcoins as well. You can find support of Euro and American dollar at this platform. As for altcoins, customers can use Vircurex wallets for Bitcoin, Litecoin, Peercoin, which bring interest to the account holder. Those who want to take advantage of this benefit, should have some balance on the account. It means that it is better not withdraw all assets from Vircurex keeping something always on it. The methods of withdrawal are standard. The transaction is performed in a usual way: the wallet address is generated and you use the received data to transfer assets. There are no any problems with speed of depositing. Fully-automated system makes it real within a quarter of an hour after you transfer assets. The site does not charge fee for depositing funds.

The popularity of the platform is easily explained. There are so many trading pairs that each user can find the market to his liking. Moreover, it is possible to create your own trading pair on the basis of currencies supported by the service. It means that if you want to exchange one virtual currency into another, there is no necessity to exchange it to Bitcoin first. You can do it directly without intermediary stages and this is, certainly, very convenient.

You can’t perform exchange without order creation that is fulfilled with help of a special generator. The algorithm is simple. Fill out the application form and then activate it pressing the special button. After the order is fulfilled user gets notification about it. Each exchange transaction is charged 0.2% from the amount of a deal.   
It is possible to withdraw fiat money and cryptos. The fee depends upon the chosen currency. There is a wide range of tools to perform analytical work. The site supports 5 languages.

Now Vircurex cares much about its security as it lost all its funds in 2014 due to hackers’ attack. The former customers applied to the court trying to get their money back. It was a big blow for the developing company, which had a good customers base before. The clients could use Vircurex referral code to sign up and it helped them to economize. Vircurex support was always helpful. But then sad news followed and Vircurex has frozen the withdrawal of funds.

The platform tries to return its previous fame but the consequences of that attack are still in the way of the development. The users are attracted by a long list of coins offered there. When Vircurex started its work, its goal was to popularize the cryptocurrencies in China, but after law forbidding cryptocurrency trading was adopted, the platform switched to different markets and now they try to make virtual coin popular all over the world.

Vircurex has been working over 7 years on the market. Its developers encountered very serious problems and the exchange was on the verge of closure. However, they still struggle to survive and continue its work. Their hard efforts to succeed doing what they like deserve respect but bad experience should not be neglected.
If you have doubts concerning its use, other exchanges are worth trying such as:

  • Gopax is an exchange based South Korea, which is loved by investors because it lacks trading fees. Though withdrawals fee is charged, it is not high.
  • Coinone is one more option, where users can trade Bitcoin, Ethereum, and Bitcoin Cash. It is also founded in South Korea. Margin trading is available. Depositing is free. Transaction fee depends upon the amount traded.
  • Cryptopia – a New Zealand company founded in 2014 offering three level of verification to its users depending upon the amount of assets traded. It supports a big number of alternative coins (over 400!) but does not support fiat money. Transaction fee is 0,20%. There is also withdrawal fee.
  • Yobit – a cryptocurrency company based in Russia in 2015. It supports USD and RUB. There are over 400 supported virtual currencies. It does not have trading     and deposit fees. The withdrawal fee depends upon the method chosen.

However, even these exchanges have negative reviews. Apply to the most reliable platform Localbicoins if you want to be sure in smooth performance and trustworthiness.

Should we trust Vircurex cryptocurrency exchange platform? ▲ △▲ △▲ △ - average rating 5 from 5 (based on 149 user reviews)