Zipmex is a relatively new exchange, founded in Singapore in 2019, and has expanded into Australia. The low trading fees and deep order books make Zipmex an excellent option for serious crypto traders in Australia. Have a look at our review and see what Zipmex has to offer and how it compares against Australia's best exchanges.
What is Zipmex?
Zipmex is a fast-growing cryptocurrency exchange that is fully regulated in Australia, and insured up to US$100M by BitGo. It is registered with ASIC and AUSTRAC and is a certified member of Blockchain Australia. Zipmex offers an easy-to-use instant buy/sell that is great for beginners, along with plenty of additional features that experienced traders and crypto investors will love. Here are some of the top advantages that make Zipmex a well-loved exchange.
- Over 50+ cryptocurrencies supported
- Low trading fees of 0.2%
- Earn interest on your cryptocurrency using flexible or fixed terms
- Zipmex Token (ZMT) that you can stake to earn interest and reduced trading fees
- Mobile app with easy-to-use interface
- Responsive Live Chat customer support
- Educational articles and other resources to help you learn more about crypto
- Registered with ASIC and AUSTRAC, and certified membership with Blockchain Australia
- Extremely secure exchange with US$100M insurance cover
Australian alternatives to Zipmex
Easy for Beginners
Zipmex was built with both beginners and advanced traders in mind, and the instant buy/sell functionality makes it incredibly simple for newbies to get their hands on some crypto straight away. Even with the instant buy feature, the fees are only 0.2% (which can be discounted if you have ZMT tokens staked), which is very low compared to other Australian crypto exchanges.
Markets for Advanced Users
Zipmex caters to the more experienced traders with their markets. Trade one of over 50+ cryptocurrencies against AUD or USDT, and enjoy the use of advanced charts by TradingView and the use of indicators.
Earn interest on your cryptocurrency
With Zipmex, you can earn interest on your cryptocurrency while you hold them. You can choose to keep the cryptocurrency flexible (so you can withdraw at any time) or lock it in for 45 days to receive higher interest rates. The coins you can earn interest on are ZMT, BTC, ETH, LTC, USDC, USDT and GOLD.
Live Chat customer support
Having a reliable customer service team is a big deal when it comes to cryptocurrency exchanges, because without it, you're on your own if you experience any issues with your account. Zipmex offers a helpful customer support team that is always ready to assist.
Zipmex token (ZMT)
Zipmex has their own token (ZMT) that you can buy and sell on their exchange. You can stake it to receive interest on your ZMT as well as receive discounted trading fees depending on how much you have staked. You also receive higher interest rates on your staked cryptocurrencies, both the flexible and fixed-term options. Additional benefits include purchasing Zipmex NFTs, being part of exclusive airdrop campaigns and priority access to future projects and launches.
Fees and Payment Methods
Zipmex only accepts AUD deposits by bank transfer, and there is a fee of 1% for deposits, capped at $3.
Trading fees either on the market or instant buy/sell are a low 0.2%. If you stake ZMT (Zipmex's native token), you can reduce the fees depending on the amount staked.
Withdrawing AUD to your bank account will incur a flat fee of $5, with minimum withdrawal amount of $25.
Zipmex is a secure exchange, with their strict verification and KYC measures in place to ensure all users are real. Most of their crypto funds are stored in cold storage, and for the remainder, Zipmex have teamed up with BitGo as their insurance provider, covering up to US$100M. Even if Zipmex ceases to operate, all digital assets will be held with BitGo and users can still access and withdraw their cryptocurrency. Zipmex is regulated in Australia, and registered with ASIC and AUSTRAC, and is a certified member of Blockchain Australia.
Pros and Cons of Zipmex
Zipmex is a great new exchange that is still growing and has a lot to offer. Currently they have 50+ different cryptocurrencies that you can trade using AUD and USDT with a low fee of 0.2%. It is suitable for beginners and advanced traders alike, and you can access discounted trading if you stake their own token (ZMT). For those that want to earn passive income on crypto, Zipmex also allows flexible and 45-day fixed term options on several coins.
The only downside is that Zipmex charges withdrawal and deposit fees, but if you are trading a lot, you will make up for it with the low trading fees. If you are after some other Aussie crypto exchanges that offer free deposits and withdrawals, you can consider Digital Surge and Swyftx. Digital Surge offers over 300+ coins, fees of 0.5% and Live Chat support. Swyftx charges 0.6% fees, staking on 12 different coins, 320+ coins, and a unique demo mode where you can learn by trading with virtual money. If you want to do some more research first, I suggest you take a look at our review on the best Australian crypto exchanges here, and also consult the table below which has some of the key information on them.
Frequently Asked Questions
Yes, Zipmex is a trusted cryptocurrency exchange that is legitimate and secure. It has been around in 2019, founded in Singapore, and has spread to Australia.
Zipmex token (ZMT) is the cryptocurrency exchange's native coin, that can be used in several ways. It can be used to boost earnings on other staked coins, reduce transaction fees, redeem physical items and unique experiences, and be traded for other cryptocurrency or sold for fiat. You can find out more here.
Yes, Zipmex is fully regulated by AUSTRAC in Australia, it is completely legal and safe for Aussies to use.
You can easily buy Zipmex token from the Zipmex exchange. It is not available on most other crypto exchanges right now, so the best way is to buy it from Zipmex. You can also stake it to earn extra rewards.