HiveEx.com OTC broker review 2018 | finder.com

HiveEx.com OTC cryptocurrency broker review

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Take a closer look at this OTC cryptocurrency broker for large-volume traders.

Placing large trades on conventional cryptocurrency exchanges can be a costly exercise. Not only do you have to deal with the phenomenon known as slippage, which is when the market moves against you before your trade can be completed, but many exchanges have low transaction limits that may be insufficient for your needs.

HiveEx.com is a cryptocurrency broker that aims to overcome these problems. Developed for crypto buyers who want to place trades of $50,000 or more, the platform allows users to access a fixed price on bitcoin and four other major cryptocurrencies.

But is it the right trading platform for you? Let’s take a closer look at the features HiveEx.com offers to find out.

Hive Empire Trading Pty Ltd (T/As “HiveEx.com”) is a related party of Hive Empire Pty Ltd (T/As finder.com)

Product Name HiveEx.com OTC Cryptocurrency Brokerage
Fiat Currencies AUD, GBP, USD
Cryptocurrencies BTC, BCH, ETH, LTC, XRP, NEO
Deposit Methods Bank transfer, POLi, Cash deposit* *Westpac Bank branches only
Trading Fee 0.5-1.7%
Deposit Fees None
Withdrawal Fees None

Pros

  • Designed specifically for large-volume traders
  • Access a larger liquidity pool than you will get from conventional exchanges
  • Avoid slippage and long processing times associated with placing large trades on traditional exchanges
  • No need to worry about low maximum transaction and withdrawal limits
  • Global network of liquidity partners means many trades can be settled on the same day
  • 24/7 customer support
  • Strict KYC and AML process

Cons

  • Only for users with significant income or assets
  • Not suitable for those looking to place small trades
  • Only offers a limited selection of digital currencies, however other coins may be available to trade
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

What is HiveEx.com?

HiveEx.com was launched in February 2018 by the co-founders of finder.com.au and finder.com. Headquartered in Sydney, Australia, the service is available all over the world.

HiveEx.com is an over-the-counter (OTC) cryptocurrency brokerage service for big crypto trades. Specializing in trades of $50,000 or more, the company has access to some of the world’s largest liquidity providers to help its customers buy and sell the most popular digital currencies. It offers customers an upfront, fixed price, and the service is backed by 24/7 customer support.

Which cryptocurrencies can I trade?

HiveEx.com specializes in helping large-volume traders buy the following currencies:

  • Bitcoin (BTC)
  • Ether (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)

Altcoins are sometimes also available through the HiveEx.com platform, with coins such as Wanchain (WAN) offered before being listed on public exchanges.

Who can use HiveEx.com?

You must be at least 18 years of age to use the HiveEx.com service. You’ll also need to satisfy the terms and conditions to qualify as an “Accredited Investor”, which means you must have either:

  • A gross income for each of the last two years of at least $250,000 or
  • Net assets of at least $2.5 million

Which fiat currencies are accepted?

HiveEx.com supports three fiat currencies:

  • US dollars (USD)
  • Australian dollars (AUD)
  • British pounds (GBP)

You can deposit the funds for a trade in the following ways:

  • Bank transfer to HiveEx.com’s bank account
  • Instant bank transfer using the POLi payment system (Australian customers only)
  • Cash deposit over the counter at any Westpac Bank branch (Australian customers only)

How does it work?

HiveEx.com is an OTC cryptocurrency broker. This means that rather than you buying digital currency directly from HiveEx.com, the HiveEx.com team works on your behalf to facilitate the purchase of cryptocurrency in line with your instructions. You will then enter into an agreement with another entity (also known as the counterparty) chosen by HiveEx.com to complete the trade.

The process works as follows:

  1. Sign up. Register for an account by providing your name, contact details, proof of ID and trading requirements.
  2. Onboarding. HiveEx.com confirms your eligibility to use its service and prepares your account.
  3. Start trading. The HiveEx.com team is available 24/7 and can help you make trades of $50,000 or more. In most cases, trades will be settled on the same day.

During the sign-up process, you’ll also be asked to specify your preferred method of communication when organizing trades. Some of the options available include:

  • WhatsApp
  • SMS
  • Telegram
  • Facebook Messenger
  • HiveEx.com Website Chat
  • Line
  • Other

How much will it cost me to use HiveEx.com?

HiveEx.com charges 0.3-1.5% of the transaction amount, which is included in the quote. The fee varies based on the size and nature of the trade, and market volatility, so contact HiveEx.com directly for more information about the fee structure.

However, it’s worth pointing out that for each trade you place, you’ll be quoted one price upfront. There are no extra fees or charges that apply.

Are there any transfer limits?

HiveEx.com can facilitate cryptocurrency trades of between $50,000 and $100 million.

Is it safe to use HiveEx.com?

HiveEx.com implements a strict Know Your Customer (KYC) and anti-money laundering (AML) process to ensure that only legitimate traders are able to use the platform. When you sign up, you will need to provide the following information:

  • Your full name and address
  • Your date of birth
  • Your email address and phone number
  • Whether you are registering as an individual or as a business
  • Whether you are an Accredited Investor (as outlined in the terms and conditions)
  • The amount you expect to trade per month
  • Your preferred method of communication for trades
  • A copy of an ID document
  • Proof of address

HiveEx.com is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) to provide increased transparency and comply with regulatory requirements.

Customer support

HiveEx.com provides 24/7 support to customers. You can get in touch with the trading team over the phone, via email, through WhatsApp or using another preferred method of communication.

Pros and cons

Pros

  • Designed specifically for large-volume traders
  • Access a larger liquidity pool than you will get from conventional exchanges
  • Avoid slippage and long processing times associated with placing large trades on traditional exchanges
  • No need to worry about low maximum transaction and withdrawal limits
  • Global network of liquidity partners means many trades can be settled on the same day
  • 24/7 customer support
  • Strict KYC and AML process

Cons

  • Only for users with significant income or assets
  • Not suitable for those looking to place small trades
  • Only offers a limited selection of digital currencies, though other coins may be available to trade
At the time of writing, the author holds IOTA and XLM.

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