Pionex is a cryptocurrency exchange platform that offers an innovative approach to crypto trading by offering the use of trading crypto bots, allowing traders to execute trades based on extensive data processing and market analysis. Aside from that, Pionex stands out in the crypto trading landscape by aggregating liquidity from major exchanges like Binance and Huobi, enabling a smoother trading experience. The platform was launched in 2019, with its headquarters based in Singapore along with an incorporated entity in Princeton, New Jersey, USA. Pionex was founded by Daniel Seng-Cheng YEO, with Guojing Tang serving as the CEO of Pionex US.
The key difference between Pionex and ZenGo is that Pionex is a cryptocurrency exchange focused on crypto trading bots, while ZenGo is a secure non-custodial crypto wallet. Pionex can be considered useful for making trades with the aid of AI and automation technology to help its users boost their profits and returns. Meanwhile, ZenGo is the best place to safely secure your cryptocurrencies and NFTs while at the same time interacting with Web3 Daaps, thanks to its state-of-the-art biometric protections and Web3 firewall.
Pionex has varying withdrawal fees for each of the coins that it supports, so you may pay a little more when withdrawing certain types of crypto.
Pionex has different withdrawal limits depending on the KYC level of your account. As of writing this guide (May 2023), new users and those at KYC Level 0 have a 0 USDT limit. This means that you will need to authenticate to at least KYC Level 1 to get a 20,000 USDT limit, and those who verify their accounts up to KYC Level 2 have a 1,000,000 limit. You can view the Pionex KYC authentication terms here.
Many withdrawals will take a matter of minutes with Pionex, but some may get delayed up to an hour or even longer if manual reviews are required. It is also important to keep in mind that the withdrawal time will also vary depending on which blockchain you are using.
Like any other crypto platform, wallet, or exchange, there are a few common problems that may arise if you’re not careful when filling in the details of your withdrawal. For this reason, it is crucial to enter the correct network and double-check the withdrawal address of your ZenGo wallet, as well as the correct amount of the digital currency you wish to withdraw. In addition, if you do not meet Pionex’s basic KYC requirements, you may not be able to withdraw.
Withdrawing to fiat currencies is not currently possible via Pionex (May 2023). So, if you want to cash out your crypto into dollars or another fiat currency, you’ll first need to withdraw to a third-party service such as ZenGo and then make a secondary withdrawal into fiat.
