SouthXchange Review: How to Use SouthXchange?
Argentina's SouthXchange is a cryptocurrency exchange run by PRO-Systems. SouthXchange is one of the earliest cryptocurrency exchanges still in operation today. The firm began working with cryptocurrencies in 2012, and three years later the exchange was created.
In this SouthXchange review, we’ll take a look at the best features of the exchange and understand how to use SouthXchange.
SouthXchange states four reasons why someone looking to register for an account with a trading system should use SouthXchange. They claim that it is safe and charges little. Finally, they claim that the network is mobile-friendly and that it shows real-time data.
All of these benefits should be considered while choosing an exchange. SouthXchange claims extremely cheap trading and withdrawal costs, nevertheless. Taker fees of 0.30 percent are significantly higher than the industry standard.
There are over 470 pairings and over 170 supported cryptocurrencies. However, the exchange does not rank among the top 100 markets by market cap.
How to Use SouthXchange?
- Register on the official SouthXchange website. To do this, you’ll have to use a valid email ID and password for registration.
- Following registration, you must click the activation link SouthXchange sends to your email address to confirm and open your account. You will be sent to the SouthXchange Log In Page after clicking the link.
Click [Log In] after entering your registered email address and password.
- Select [Settings] then click the [User ID Verification] button on the left to verify your account. Add your first and last names as well as a photo of your government identification.
Take a picture of it with the SouthXchange web page in the backdrop rather than scanning it. And then select [Send].
- By clicking on the [Wallets] button or by just selecting from your favorites tab, you may choose which market you wish to trade. Copy the address after clicking [Deposit].
Will SouthXchange Provide me with Tax Documents?
Cryptocurrency investors do not stick to just one exchange, wallet, and platform. Maybe you also use Coinbase for trading or use BlockFi to earn income. The limitation of SouthXchange's reporting to the SouthXchange platform is a problem.
SouthXchange is unable to offer comprehensive profits, losses, and income tax information if you utilize multiple cryptocurrency wallets, exchanges, DeFi protocols, or other platforms in addition to SouthXchange.
Luckily, there is another option for investors to appropriately submit their taxes. ZenLedger easily calculates your SouthXchange taxes and also finds opportunities for you to save money and trade smarter. Let’s find out how to do your SouthXchange taxes with the help of ZenLedger.
Connecting Your SouthXchange To ZenLedger For Your Crypto Tax Documents
As one of the most comprehensive cryptocurrency tax software options on the market, we have import instructions for well over 400+ exchanges.
Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you'll see a table that outlines the possible methods. For many centralized exchanges, we support a direct API code import, while others may require a CSV import. Decentralized exchanges may require a wallet address.
To import your transactions from an exchange, simply navigate to the [Exchanges] tab of the [Imports] page. Select the exchange that you are looking to import, (SouthXchange, in this case) and instructions will be provided for that specific exchange!
The Bottom Line
That was all about the best features of the exchange and how to use SouthXchange. Checking that the exchange you wish to use is legitimate and that it offers you enough protection tools is crucial.
According to SouthXchange, firewalls protect the majority of the data on the private network. Regarding the security methods offered to consumers, SouthXchange offers 2-factor authentication, which is perhaps the most well-liked security mechanism in the cryptocurrency business (and for a good reason). It is almost hard for others to access your data using 2FA.
Another choice is email confirmation, which will prevent someone from using your account to execute tasks without having accessibility to your email address.