Mandala crypto exchange was founded in 2020 with the aim of becoming the most trusted digital asset exchange on the market. The exchange offers access to one of the largest liquidity pools in the industry. Besides, the platform is one of the first exchanges built on the Binance Cloud, which is an infrastructure that helps partner exchanges build their products with infrastructure support from Binance.
Mandala cryptocurrency exchange is available worldwide, however, there are countries where its services are either limited or totally banned. These countries include the USA, Albania, Belarus, Bosnia, Burma, The Central African Republic, the Democratic Republic of Congo, the Democratic People’s Republic of Korea, Cote D’Ivoire, the Crimea region of Ukraine, Croatia, Cuba, Herzegovina, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova, Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, Zimbabwe, Province of Ontario.
In terms of KYC requirements, it is not necessary to gain access to services on the platform. Users can perform withdrawals of up to 2 BTC without the need to carry out KYC. However, in case they want to increase this limit, they must identify themselves.
Markets
There are 4 markets available on the exchange for users to carry out trading activities – BTC, Fiat, ALTS, and MDXT markets. These markets have over 1000 Mandala exchange trading pairs available. A large number of trading pairs available could be partly responsible for the $3 billion yearly Mandala volume. In terms of supported cryptocurrencies, the Mandala crypto exchange supports all major cryptocurrencies. Mandala spot trading is available on the platform as a trading option. However, the platform does not support margin or leveraged trading options.
The platform does not support fiat currency deposits. Thus, to deposit, you would have to buy your crypto somewhere else and transfer it to your wallet on the Mandala exchange. The process is the same for withdrawals as well. To withdraw from Mandala, you have to send your crypto to a wallet on another platform where you can make withdrawals in fiat. Mandala crypto price for BTC withdrawals is 0.00088 BTC, while the fees for other networks are dependent on the network in question.
Mandala exchange fees for trading are quite low. The platform charges a flat trading fee of 0.1% on all trades. Furthermore, holders of the platform’s native token – MDXT can get access to even lower trading fees and rebates. These rebates are received by staking MDXT tokens for a period of 30 days. Another way to earn from the platform is through its referral program. This program gives a user 10% of the trading fees paid by new users who sign up with the referral link.
About the Company
Mandala cryptocurrency exchange is based in Valletta, Malta. It is owned by a parent company called Mandala Acquisition LLC.
The platform was co-founded by Joe Reiben and Zach Daniels. Joe serves as the CEO while Zach serves as the CTO.
Joe transitioned into tech from the law. He is a law graduate of the Case Western Reserve University School of Law and he holds a Bachelor’s degree in Business Management from Bucknell University. Before starting Mandala with Zach, he worked at various law firms as a managing partner. Details about Zach, on the other hand, are quite scarce online. It is believed that he is an experienced software developer with experience in cryptocurrency and blockchain technology development.
In January 2023, the Mandala volume over a 24-hour period ranged around $2,2 billion.
