Is MAX Exchange Scam Or Legit?

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Metaglobal

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MAX Exchange is a decentralized exchange of Taiwan that provides transaction matching of fiat currency to virtual currency or virtual currency to virtual currency. Is it a trust project? We will clear your doubts through this review. Let's get started.

1. What is MAX Exchange?

As mentioned above, MAX Exchange is an exchange organized in Taiwan that allows crypto users to transact in real time through your internet enabled devices such as your smartphones and computers.

MAX Exchange is founded by Maicoin group who also produces Maicoin digital asset trading platform, MaiCapital, and the technology brand AMIS. MaiCapital provides a platform to trade virtual currency, it supports major cryptocurrency, stable coins and DeFi concept cryptocurrency including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dai (DAI), Chainlink (LINK), PAX Gold (PAXG) and Compound (COMP). Users are able to deposit money via various payment methods and are available 24/7 for transactions.

Technology brand AMIS provides blockchain solutions for the financial sector. The firm is one of the founding members of the Ethereum Enterprise Alliance (EEA).

Taiwan is a country that has very few exchanges compared to other Asian countries. Currently, there are only three exchanges in Taiwan including Max exchange, BitoPro and OTCBTC. Some of the advantages of using Max exchange of Maicoin include the security of the platform, the dependable API, and the low fees charged by the exchange.

The platform is available on website, mobile apps on both Android and IOS.

However, the website of MAX Exchange does not fall under any regulating agency and it also works with websites that offer “Automated trading software” which is not considered a substitute for carefully executed trading.

It means that MAX Exchange might be an unregulated forex broker where customers are not protected and there are no regulating agency to hold them responsible.

2. MAX Exchange security


MAX Exchange guarantees to provide users a secure platform which can be trusted to protect your data communications and trading information. Also, your digital assets are stored in a secure cold storage which is offline.

The exchange also carries out regular tests to look for vulnerabilities in the platform, and to fix such vulnerabilities. Wallet service by AMIS is also integrated into the platform to further improve the security by monitoring blockchain transactions.

3. Is MAX Exchange Scam or Legit?

Even though MAX Exchange guarantees to offer a secure platform for people , however there are some drawbacks of the project that we need to look at. Firstly, MAX Exchange is not a popular and large exchange in comparison to other exchanges in the market.

This exchange only has 37 cryptocurrencies. According to CoinMarketCap, the MAX Exchange 24-hour trading volume is $23,773.73 USD and the current CoinMarketCap ranking is #1477. It proves that MAX Exchange is a small exchange with a small number of visitors, and there are not many investors involved.

The long-term chances are low floor revenue, easy bankruptcy that can't be withdrawn and turned into a scam, or easy to be used as a manipulation tool to pump the price of junk coins.

Secondly, as we have mentioned above, the website of MAX Exchange “maxexe.com" does not fall under any regulating agency and it might be an unregulated forex broker who works in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen.

Therefore, we would recommend you should not invest in this project. Leave your comment below if you would like to tell us your opinion! Thank you!​
 

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