Mandala Exchange Review: Is it Safe or Legit?

Mandala is a cryptocurrency exchange where traders can buy and trade crypto. The platform talks about its speed, efficient interface, security, and better trading experiences. In addition, Mandala has its own token, and this Mandala Exchange review will be focused on helping you learn everything about the platform.

Summary

  • The crypto exchange Mandala, has low fees.
  • The security protocols of the platform is standard, providing two-factor authentication. In addition, the funds are secured by Binance.
  • Mandala does not provide a wallet of its own. 
  • The platform has a mobile application. 
  • Mandala does not have an official token of its own.  

What is Mandala Exchange?

Mandala is a crypto exchange powered by Binance Cloud with a liquidity pool, making it an exceptional one. The platform can be used to buy, sell, and trade cryptocurrencies. Anyone can create an account on the Mandala exchange and start trading. Moreover, Mandala is in high compliance with legal rules and regulations while not overlooking the security protocols and transaction speed. 

Mandala Exchange
Mandala Exchange

Mandala Exchange Review: Products

Exchange

With Mandala, users can easily start trading in pairs and check out the markets for both fiat and cryptocurrencies. Furthermore, Mandala offers technical indicators with time intervals of minutes and hours for better understanding.

Traders can also view their orders, order history, trade history, and funds on the exchange. In addition, the platform has a token of its own called “Mandala Exchange Token”, which can be used to reduce trading fees.

Exchange
Exchange

Markets

Users can check on the BTC, Fiat, Alts, MDXT markets by simply going to the market tab and will be able to observe all the pairs, their last price, change in 24 hours, market cap, and 24-hour volume. In addition, traders can check either with single coins or with all the coins at a time. Furthermore, you can also hold MDXT and gain discounts on trading fees, rebates, and other platform enhancements. 

Mandala Exchange Review: Is It Safe Or Legit?
Market

How to get started with Mandala Exchange?

You can get started with the Mandala Exchange by following the below steps:

  1. First, click on the “Login/Signup” link present on the top right hand corner of the Mandala exchange official website.
  2. Second, fill in your personal details including your first name, last name, mobile number etc.
  3. In case, you have a referral code then enter that acode while creating your account.
  4. Now, submit the form and wait for the activation email.
  5. After your account is activated, you will be sent a 6 digit OTP which is suppossed to be entered after logging into your Mandala exchange account.

Mandala Exchange Review: Fees

The platform has a trading fee, withdrawal fees, and deposit fees, depending upon the coin and its network. Mandala has provided a complete fee schedule for all the coins. To know more, click here. Note that there are no deposit fees. 

Furthermore, HODLing MDXT makes you eligible for trading fees rebates. However, you are still charged the entire trading fees at the time of transaction and the platform provides the rebate after thirty days, either in USD or MDXT.

In addition, the platform offers a referral program to its users. For example, with Mandal exchange, traders can earn referral rewards with users joining the platform via their referral link. Moreover, with locking up of  80,000 MDXT, users can double the number of earnings from referrals. Not only this, the referees can also avail a 5% discount on trading fees.

Fees Schedule
Fees Schedule

MDXT Token

The platform has an official Mandala token called MDXT. With this token, the traders can benefit from significant advantages like trading rebates, referral rewards, and specialized trading capabilities. 

Supported Countries

The platform has a list of countries that can not participate on the platform. Check here

Is Mandala Exchange Safe?

Yes, Mandala exchange is safe as it is powered by the Binance cloud. In addition, the funds are also secured by SAFU (secure asset fund for users) which is an emergency insurance fund. The platform is regularly performing penetration testing to check for areas of improvement. This way, they also protect the overall infrastructure of the platform. The accounts of the traders are also secured with 2FA (two-factor authentication).

Mandala Exchange Review: Customer Support

The platform provides customer support through various means: FAQ, Compliance requests, exchange status, and above all through “Ask an Agent”. This is something that almost every trader looks for in a platform. Note that Email is used as the medium of communication with agents. 

Customer Support At Mandala Exchange
Customer support at Mandala Exchange

Pros and Cons

Pros Cons
No deposit fees. Few products are offered. 
The platform has an official token, MDXT.Particular preference is given to the MDXT token. 
Support is available through agents.
Beginner-friendly platform. 

Mandala Exchange Review: Conclusion

Mandala is a safe-to-use exchange platform as it is associated with Binance. Therefore, users trusting Binance can easily trust Mandala as well. Furthermore, though the platform has a special focus on its native coin, it can benefit the traders in earning rewards. Talking about fees, they as low as 0.05% are worth it. In addition, the customer support provided to the users is remarkable. 

Frequently Asked Questions

  • Is Mandala owned by Binance?
  • No, Mandala is not owned by Binance. Instead, Mandala is powered by Binance Cloud or is associated with the Binance. Binance cloud interfaces highly influence the security features of Mandala as Binance protects Mandala. 

  • Can US citizens use Mandala exchange?
  • No, U.S. citizens can not use Mandala exchange. This is because the platform does not legally allow U.S. users or citizens. 

  • How do I deposit money on Mandala exchange?
  • To deposit money on Mandala Exchange, follow the steps given below:
    – Go to the official webpage of Mandala and click on Buy crypto.
    – You can either deposit your fiat currency or crypto or your pair to purchase cryptocurrency. 
    – Enter your crypto wallet address.
    – Confirm the details, and you will have your money deposited on Mandala in exchange for the cryptocurrency of your choice. 

    Where is Mandala Exchange based?

    Mandala Exchange is based in Valletta, Malta. 

  • How do I buy a Mandala Exchange?
  • Users can not buy the Mandala Exchange, instead, the platform has an official token that the traders can purchase. In addition, Mandala can be used as a service-giving platform for trading cryptocurrencies. 

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    Safiya Zaki

    Passionate writer, and a crypto learner.