Exolix Review: Should You Use It To Swap Crypto?

Exolix

Summary

Finding an easy way to perform crypto-to-crypto transactions without having to create an account and go through the ID verification process can be challenging. With over 500 customers using the service every day, Exolix is one of the world’s up-and-coming crypto-to-crypto swapping exchanges where transactions are quick and anonymous.

Any affiliate links with our partners may result in MoreCrypto earning a small commission or compensation at no extra cost to you whatsoever. 

Advantages and Limitations

What is Exolix?

Exolix is an Estonian-based crypto-to-crypto conversion exchange that was launched in 2018. It is a decentralized cryptocurrency exchange which means that it does not store or hold any type of digital assets. Exolix provides a means for investors to perform crypto-to-crypto transactions quickly and anonymously. Since there is no fiat gateway, account creation and ID verification procedures employed at other exchanges are not required. 

Exolix acts in a similar fashion to a broker. It is integrated into several other cryptocurrency exchanges where it finds the best possible trading rate for the nominated trading pair. The converted funds are received within 5 to 30 minutes and can be directly transferred to a personal hardware wallet.

Key Takeaways

Name

Core Services

Available Cryptocurrencies

Deposit Options

Trading Fees

Fiat Gateway

Mobile App

Exolix

Anonymous crypto-to-crypto swapping

524+ coins

Cryptocurrency via deposit address

Unknown (hidden within the transaction amount)

No

Yes (Android and iOS)

Top Features You Should Know

No Account, No Identity Verification

Exolix offers a crypto-to-crypto swapping service where the identity of the user remains anonymous. Unlike other cryptocurrency exchanges in Australia, an account is not needed to be created. Since fiat currencies are not involved in crypto-to-crypto swapping, verification of the user’s identity is not required and the provision of government-issued under Know-Your-Customer (KYC).  

The secure and anonymous nature will appeal to people who want to quickly swap one cryptocurrency for another cryptocurrency without having to create an account and verify their ID through an exchange.

Fixed Rates To Mitigate Against Price Fluctuations

Some exchanges have flexible fees for crypto-to-crypto conversions. This means that the final amount of the converted digital asset received may differ from the amount that was displayed before the transaction was completed.  

Exolix solves this by fixing crypto-to-crypto swapping rates for one hour during the transaction process. This feature safeguards the users from sudden changes in price

No Maximum Swapping Limits

Exolix does not have a maximum limit when it comes to swapping crypto-to-crypto transactions. This will appeal to investors who want to exchange high amounts of cryptocurrencies quickly and anonymously. 

Minimum limits apply and differ for each cryptocurrency. For example, the minimum amount of Bitcoin that be swapped for another digital currency is 0.0025 BTC. 

Is Exolix Safe to Use?

Exolix is a secure crypto swapping platform with no known security breaches since its inception in 2018. Digital currencies are not stored or held by Exolix. Following the completion of a crypto-to-crypto transaction, the converted cryptocurrencies can be directly transferred to the user’s hard wallet. This means that the theft of crypto assets is not likely to be possible.  Being an anonymous platform, user privacy is ensured as personal data is not required to be provided to complete an exchange.

Exolix rates versus other platforms

Exolix is able to find the best crypto swapping pairs by integrating into several cryptocurrency exchanges in the world. This means that greater liquidity is able to be accessed and the Exolix trading algorithm can provide a competitive fixed rate to convert cryptocurrencies by choosing the best price on the market. 

Exolix fees are not stated during a transaction and are therefore not transparent to the customer. Their fees are included within the transaction price which means that the amount received will be slightly less than the market value.

We compared the amount of Exolix swapped crypto received against other crypto-to-crypto conversion platforms including Changelly, ChangeNOW, SwapSpace, and SimpleSwap. Exolix falls behind its competition in terms of the amount of Bitcoin (BTC) swapped for Ethereum (ETH).

Crypto Swapping Platform

Exolix

Changelly

ChangeNOW

SwapSpace

SimpleSwap

Amount Swapped

0.1 BTC

0.1 BTC

0.1 BTC

0.1 BTC

0.1 BTC

Amount Received

1.34395349 ETH 

1.3703375 ETH

1.3658524 ETH 

1.37674637 ETH 

1.31354714 ETH

Accepted Countries

ID verification is not required and crypto exchanging transactions are able to be completed anonymously. Since users are able to complete crypto-to-crypto transactions anonymously, Exolix is able to be used in any country.

How to Complete Crypto Swapping

Similar to its competition, Exolix provides a simple and straightforward user interface that allows for quick crypto swapping transactions to be made. Crypto-to-crypto transactions can be completed in the following steps:

  1. Select the asset pair to swap and receive (e.g. BTC to ETH) and enter in the amount to be swapped. Exolix will automatically calculate the amount of the returned asset (inclusive of trading fees).
  2. Deposit funds using the provided deposit address to initiate the transaction.
  3. Review the transaction details.
  4. Receive funds and transfer them to a personal hardware wallet.  

Prior to transaction completion, Exolix will present a summary of information relating to the crypto exchange. This will include the amount swapped, the amount received, transaction ID, and the recipient’s wallet address. It is important to note that the crypto amount returned will include trading fees. Exolix advises that transactions may take between 5 and 30 minutes to complete depending on the volume swapped. We noted from several negative customer feedback reviews on TrustPilot that some users received their funds after waiting for more than 1 hour.  

Exolix interface

Customer Support and Reviews

The Frequently Asked Questions (FAQs) page provides information generally pertaining to security, the transaction process, and the Exolix affiliate program. The list of FAQs is not exhaustive but should provide troubleshooting assistance to the majority of users. 

The customer team at Exolix can be reached via a live chatbot or by submitting a ticket with the details of the specific query. We noted that a response was not received from the live chatbot outside of usual business hours.

Exolix customer support

By searching Exolix on Trustpilot, we discovered that Exolix had a rating of 4.2 out of 5.0. Although the score rating was good, there seemed to be a wide range of positive and negative comments and feedback. The negative comments appeared to primarily relate to the loss or slow return of swapped digital coins (up to 3 hours). The theme of the positive comments appeared to relate to the platform’s ease of use and great technical support. 

Mobile App

Exolix mentions that their mobile app is available for download through the Apple Store (iOS) and Google Play (Android). We were unable to find the mobile app on Google Play. 

Security Measures

Exolix provides a safe and secure platform to conduct crypto-to-crypto transactions. The platform implements strong security protocols including SSL certificates which is the standard cryptographic measure for safeguarding communication data. Exolix also outlines that the platform is protected against DDoS attacks. 

It is a decentralized cryptocurrency exchange which means that it does not store or hold any type of digital assets. Swapped crypto can also be directly transferred onto a hardware wallet meaning that theft of digital assets is unlikely. 

As ID verification is not required, users are able to anonymously conduct crypto swapping and can have peace of mind that their privacy is protected.

Does Exolix Have An Affiliate Program?

Exolix has an affiliate program where affiliates will receive between 0.5% and 0.7% of the total amount of each successful transaction. Affiliate commissions are dependant on the volume of crypto exchanges completed and payouts are completed on a monthly basis. Exolix offers two methods for affiliates to use, API integration as well as links and banners. 

Alternative Crypto Swapping Platforms

Users who want the best return for their crypto-to-crypto swapping needs might choose Changelly or SwapSpace where the fees appear to be more competitive. The higher fees for Exolix will translate into slightly less returns for larger transaction amounts. Exolix will appeal to users who want to swap smaller amounts of crypto and still value privacy and convenience.  

Our Verdict

Exolix has proved itself as an attractive option to customers due to its ease of use and convenience. The simplistic design of the interface makes for a straightforward user experience. Fixed trading rates and no maximum limits are the two key winning aspects of Exolix. However, the hidden fees appear to be relatively high compared to other crypto-to-crypto swapping platforms which may deter investors who want to exchange large amounts of crypto.

Exolix will appeal to users who value their privacy and want to swap smaller amounts of crypto.

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