ChainEX alternative for USDT swaps paid inside the trade
Unigox is an alternative to ChainEX, the South African exchange, for buying or selling USDT at one quoted rate, paid inside the trade, not by EFT deposit and withdrawal. Stay with ChainEX for other coins, order types or Earn.
When to stay with ChainEX
You use ChainEX's order types
ChainEX has accumulation and distribution orders, scaled orders, stop and stop-limit orders. Instant Trade buys the coin you pick with market orders as soon as a rand deposit clears. On Unigox a swap is one quoted rate you accept, with no stop, scaled or accumulation orders.
You hold other coins or earn on them
Its rand markets include Bitcoin, Ethereum, Solana and XRP, with USDT pairs beside them. The Earn Portal pays interest on coins you subscribe to its products. On Unigox the only assets are stablecoins, swapped with local money.
You trade on ChainEX's order book at 0.10%
A taker on ChainEX's order book pays 0.10% on every market, less from 1 BTC of trading in 30 days; Quick Trading costs 0.70%. On a large sale the fixed R8.50 rand withdrawal weighs little, so 0.10% can cost less than the fee inside a Unigox rate. Compare the two on your amount.
ChainEX and Unigox for one USDT and rand trade
| Topic | ChainEX | Unigox |
|---|---|---|
| What it is | A South African exchange based in Jeffreys Bay, with rand and USDT order books, Quick Buy and Sell, Instant Trade on deposit and an Earn Portal. | One trade between your stablecoins and local money; the other side is a P2P merchant or a payment business. |
| Buying USDT | First send an EFT to ChainEX with your reference; cards are not accepted. The rand can take up to two business days to reach your ZAR wallet. Then buy with Quick Buy or on the USDT/ZAR book. | The rand goes from your bank to whoever sells you the USDT, while the USDT waits in escrow. |
| Selling USDT | Quick Sell fills your amount at the current market price against the top orders on the book. The rand then sits in your ZAR wallet until you withdraw it to a linked bank account. | You see the rate for your amount before you confirm, and the buyer sends the rand to the bank account you named. |
| Fees | Quick Buy and Sell: 0.70% on every market. Order book: 0.10% for the taker. Rand withdrawal: R8.50. Sending USDT out: 3 USDT. | Built into the rate shown for your amount, before you confirm. |
| Rand to your bank | R8.50, only to a bank account you linked and ChainEX verified:
| Nothing to withdraw: the rand from a sale is paid to you as a step of the trade. |
| Moving USDT | Sends USDT only as an ERC-20 token on Ethereum, for 3 USDT, and USDC on Ethereum for 7 USDC. Each send is confirmed from an email. | USDT reaches Unigox on Ethereum, Tron, TON, Solana and other networks, and you can send it to an outside wallet before or after a trade. |
| Regulation | ChainEX (Pty) Ltd, company 2017/439541/07, gives FSP number 53799 in its site footer. Its terms of use still say it holds no financial services provider licence under FAIS. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxTake a USDT and rand trade from ChainEX to Unigox
Verify with Unigox
Unigox checks your identity before the first trade, whatever the amount. Your ChainEX profile verification stays with ChainEX.
Move the USDT you plan to sell
Withdraw it from ChainEX to your Unigox address on Ethereum, the one network ChainEX sends USDT on. The fee is 3 USDT; confirm the email ChainEX sends. If you are buying, skip this step.
Trade at the rate you see
Choose buy or sell, enter the amount and your bank details, and confirm. When a P2P merchant buys from you, release the USDT once the rand shows in your bank.
Questions about ChainEX alternatives
What is ChainEX and who runs it?
A South African crypto exchange run by ChainEX (Pty) Ltd from Jeffreys Bay. It offers rand and USDT order books, Quick Buy and Sell, Instant Trade on deposit and an Earn Portal. Its site footer gives FSP number 53799, while its terms of use say it holds no financial services provider licence under FAIS.
What is a ChainEX alternative for USDT?
Unigox, when USDT for rand or rand for USDT is the whole job: you confirm one rate and the money moves between your bank and the other side of the trade. ChainEX does more if you trade other coins or use its order types.
What does ChainEX charge for Quick Buy and withdrawals?
Quick Buy and Sell cost 0.70% on every market. An order-book trade costs 0.10% for the taker, lower from 1 BTC of 30-day volume. A rand withdrawal costs R8.50, or R55 with same-day Fast Clearing. Sending USDT out costs 3 USDT on Ethereum.
Which network does ChainEX use to send USDT out?
Ethereum only. ChainEX sends USDT as an ERC-20 token for a 3 USDT fee, and Unigox takes USDT on Ethereum. You confirm the withdrawal from an email ChainEX sends, and it reaches Unigox once the Ethereum transaction confirms.
Check a USDT rate before your next ChainEX trade
Enter your amount on Unigox and compare the rate with a ChainEX Quick Trade at 0.70% or an order-book trade at 0.10%, plus R8.50 to withdraw the rand.
ChainEX and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.