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Your frictionless digital currency platform, Tokenize Xchange aims to be the first exchange to let you trade blockchain ideas, knowledge, and values.
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About Tokenize Xchange
Tokenize Xchange is a platform from Singapore established since 2018 that enables users to buy and sell established and emerging digital currencies.
Is Tokenize Xchange licensed to operate in Singapore?
AMAZINGTECH PTE LTD (201611619W) is currently exempted from holding a licence for digital payment token services under the transitional arrangements in the Payment Services Act.
Monetary Authority of Singapore (MAS) had earlier said that this exemption applies to entities that were carrying on regulated business before the start of the Payment Services Act on Jan 28, 2020.
The exemption allows an entity to continue providing its services while its licence application is being processed, and lasts until the licence application is approved, rejected or withdrawn.
According to MAS, Digital payment token service includes the buying or selling of digital payment tokens, or providing a platform to allow people to exchange such tokens in Singapore.
The latest trading fees can be found here.
Tokenize has Partnered with Hodlnaut to #SupportLocal
As strategic partners, Tokenize Xchange will be Hodlnaut’s preferred fiat (SGD) to crypto on-off ramp for digital assets. See the announcement on the Tokenize Xchange blog.
Keeping track of latest promotions
Bookmark the Tokenize Xchange promotion blog page for the latest promotions.
What is Tokenize Emblem (TKX)?
Tokenize Emblem is a crypto-currency exchange token created by Tokenize Xchange. It is built upon the Ethereum blockchain with the ERC20 protocol. Its ‘Initial Coin Offering’ (ICO) was completed in August 2018.
- Token Symbol: TKX
- Max Supply: 100,000,000 TKX
- Circulating Supply: 50,000,000 TKX
Check out the latest price and market cap of TKX here.
What are the uses of TKX?
Summarised from the blog article ‘5 reasons to buy Tokenize Emblem (TKX) Tokenize Xchange tokens’:
- If you stake at least 100 TKX, you will get a higher APR (annual yield) for staking another cryptocurrency.
- Can be used as trading fees to enjoy 30% discounted fees.
- Normally, users would need to pay from 0.02% to 0.1% to withdraw your digital assets from the platform. However, this withdrawal fee would become 0 if you are holding at least 5,000 TKX in your wallet.
- Can be used to purchase premium or platinum membership status.
- Earn up to 20% commission from your referees’ trading fee, if you stake at least 20 TKX.
Why trade with Tokenize Xchange?
- Competitive Rates: Rates go as low as 0.1% for platinum users, and you can use TKX as trading fees for additional discounts.
- Top-notch security: Tokenize Xchange implements hybrid wallet mechanism & multi-signature strategy to guarantee asset safety. On top IP whitelisting, users can also opt-in for 2-Factor Authentication for additional security.
Funding my account
Funding via Xfers
I had trouble finding out how to fund my account initially and had to rely on the funding help document.
Based on deposit experience on 4 June 2021:
- After signing in, click on your name on the top right and select
- You will see a long list of wallets for various tokens. The key is to scroll to the bottom of the page. There you will find a separate table for Fiat balances.
- I clicked on the
+sign for Singapore dollar deposits and chose
Xfers Direct Transfer(note: I have a Xfers account setup already).
- Next confirm the bank account you will be transferring from.
- Transfer funds into the Xfers account provided, and remember to add your mobile number under the comments of the FAST transaction.
- The funds were reflected in my Tokenize Xchange account a few minutes later.
Funding via Credit/Debit Card
Withdrawal of crypto
Please note that there are withdrawal fees and limits, and depending on the cryptocurrency you are transferring out, it can be very expensive.
The fees schedule has 4 tiers:
I didn’t know if I belonged to the ‘Normal’ or the ‘Verified’ tier, so I wrote in to Tokenize Xchange to ask. The response was fast and here it is:
“verified members are set for specific users in some countries. You can check your membership in your Profile on Tokenize Xchange.”
Withdrawal of fiat
Withdrawing from your Fiat wallet to your bank account is chargeable too if you are a “Normal” tier user. As of Oct 2021, the charge is 0.55%.
Take note though that an admin fee of SGD100 will be charged for fiat withdrawal requests made by accounts without a minimum of SGD1,000 trading size (Fiat-Crypto).
Please read the examples provided on the withdrawal fees page carefully.
I visited https://tokenizexchange.zendesk.com/hc/en-gb and clicked on “
Submit a request” when I wanted to contact Tokenize Xchange.