Wixi Exchange Review. How can you insure your trades and not lose your deposit when trading? Wixi insurance, margin and spot trading. WIXI Token and generous referral program for users

Josh Crypto Bard
9 min readNov 26, 2023

Cryptocurrency trading can be very profitable. However, it is just as easy to lose money as it is to make it. It is important to remember that only traders are responsible for their decisions to buy and sell assets. Even the most experienced can lose their capital by unsuccessfully opening trades.

The developers of Wixi.Exchange decided to share the risks with their clients. They introduced transaction insurance. If a position is closed at a loss, the exchange will refund the lost funds. The option is available for spot and margin transactions on any trading platform.

In this article we will talk about how you can avoid losing your deposit and minimise your risks when trading. I will show you a detailed guide and give real examples of insuring trades (including my own cases), as well as reviewing with you other platform tools that can be useful.

Wixi Insurance. How can you protect your capital?

Let’s take a more detailed example of how insurance works. Let’s take the most common scenario from the “classic of the genre” category:

  • You just start trading (you choose leveraged trading), you deposit a small amount of money. For example, 1500USD
  • You close the first trades in profit — on the account of 1800USD
  • Then you decide to increase the leverage, open several positions at once, hoping for a quick profit.
  • And suddenly the market corrects.
  • You don’t close your trades because you don’t want to suffer losses, but you can’t handle the risks either.
  • The margin call comes and your entire deposit is wiped out.

Now I will show you how the same story would have ended if you had insured your positions.

  • After the first few trades have closed in profit, you decide to increase leverage and open several positions at once.
  • And at the same time you open an insurance on the same positions (you choose whether it is “Downside” or “Growth”, as well as the insurance period — 1.7 or 30 days).
  • The market is not in your favour
  • You do not close the deal and all losses are covered by the exchange.
  • The deal is closed or you do it yourself. The exchange credits your account with a profit in USD equal to your loss.

For example, if you had 1800USD in your account when you opened and insured the trade, and it was 1000USD when you closed the trade, the exchange will credit you with 800USD, which is equal to your loss on the trade.

You can insure any position for a period of your choice. The big advantage for traders is that if the deposit size is on the edge, they will not have a margin call — the insurance works as a cross-margin.

The tool is easy to use even if you are used to trading on other exchanges. The terminal now supports transactions on OKX, Gate.io, MEXC, Kraken, Coinbase, Bybit, Huobi, Binance. You can insure spot and marginal (long and short) positions. To do this you need to do the following:

  • Go to the “Insurance” terminal
  • Select an asset and an insured account
  • Specify the insurance amount (in USDT or insured asset)
  • Select the exchange and the insurance period (1, 7, 30 days)
  • Open a position by clicking on the “Buy” button.

You can trade with high leverage, open trades and not be afraid that they will close in the negative, because if you have insured them, Wixi will compensate the loss in full.

For example, I now have an open trade on BTC, I entered at the price of $37200, hoping for further growth. The result: I still have a drawdown of $140, but the insurance covers all losses.

Registering on the Wixi exchange

Registering on Wixi is easy. It only takes a minute to get an account on the exchange:

  1. Go to https://wixi.exchange/en/ and click on “Registration” in the top right corner.
  2. Fill in the form — login, email, password and tick the box to agree to each condition (links to documents are clickable).

3. Click on “Register

4. Confirm your registration and go to the exchange via the link sent in the email.

Do you have to go through KYC?

If you only want to trade cryptocurrencies, you do not need to go through KYC. You will be able to trade, deposit and withdraw funds without any restrictions.

However, KYC is mandatory when working with fiat. After identity verification, you will also be able to trade on the exchange without restrictions.

Spot and Margin Trading

To start trading on spot or margin terminals, you will need to fund your account. To do this, go to My Accounts. You can fund your account with fiat currency (RUB, USD, EUR, KZT, etc.) or any other asset.

Spot Trading

You have access to classic spot trading instruments, more than 100 liquid cryptocurrencies at the best price on the market.

The exchange has a fairly clear interface, so even at an intuitive level it is easy to understand how to use the tools and which buttons to press.

  • To open a trade, go to the Spot terminal
  • Select the assets to “buy” or “sell”.
  • Specify the price and quantity (you can specify both in USDT and in the cryptocurrency itself. Sliders are also available to specify the quantity as a percentage of the available balance).

If you wish to insure the position immediately, simply switch to “On” and select the insurance period (1, 7 or 30 days).

Margin Trading

With margin trading, you can make a large profit with a small deposit. It is also possible to lose more than your deposit, but if insurance is opened, the exchange will cover all losses.

On Wixi you can trade with leverage of 1–20x.

  • To open a trade, go to the “Margin” terminal
  • Select an asset and a funded account
  • Specify the size of the position (there is also a slider to specify the amount as a percentage of the available balance)
  • Select the leverage (from 1 to 20)
  • Again, if you want to insure the position immediately, simply switch to “On” and select the period.
  • Open a “Buy” or “Sell” transaction.

*ASK — buy price of the asset, BID — sell price of the asset

All open positions are displayed in a convenient format on the main page of the Spot and Margin Trading Terminal.

To view all operations performed, go to “Transaction History” from any terminal on the main page or via Personal Account.

P2P Trading

A convenient P2P terminal for buying and selling cryptocurrencies directly from other users, with no restrictions or commissions. More than 34 world currencies are available at the best prices on the market.

Access is enabled after filling in the “Nickname” field in the profile settings.

  • To open a deal, go to the “P2P” terminal
  • Select “Buy” or “Sell”.
  • Select an asset (USDT on the screen) and select Fiat on the left (INR on the screen).
  • Click Buy/Sell and enter the amount.
  • Click Buy/Sell and go to myAlpari — P2P — Orders.
  • Choose a convenient payment method and pay

In Personal Account you can also create your own ad and manage your orders.

WIXI Token. Are there any advantages for token holders?

I think that the price of the token will only increase in the near future. This is largely influenced by the following factors: the emerging hype and interest around Wixi’s products (even taking into account the fact that they’re relatively new to the market); the versatility of the token and its use in the Wixi ecosystem; the internal support of the ecosystem; and the price of the token. Let’s look at each point separately:

  1. Since the IPO, the token price has increased approximately 13-fold in a very short period of time. The team predicts that the token price will reach $1.5 and go higher. I see prospects in the further development of Wixi’s products, especially when we talk about the insurance tool, which can become a must-have tool for all traders. There are no analogues on the market, it solves the most important problem and protects you from losing your deposit. As if this is the most necessary tool for anyone in any way related to crypto or stock market trading.

2. Wixi token owners can use it within the exchange ecosystem to pay for various services: insurance commission reduction, exchange withdrawal fees, token listings.

You can also get a discount on insurance (if you have 5,000 tokens in your wallet). If you open a transaction on Wixi — you get a 7% discount, if on another platform — 5%.

In addition, the exchange will be hosting launches of top third-party projects, and Wixi token holders will be the first to participate in SEED rounds. To do this, you need to hold more than 5,000 tokens for 30 days. Not a bad chance to join promising projects at the very beginning and get more Wixi tokens on the way out.

3. In terms of token distribution, 30% of Wixi’s quarterly profits are used to support the ecosystem and internal tokenisation. Of this, 15% is used to buy back WIXI tokens from the market to increase the value of the token. The remaining 15% is invested in liquidity pools to increase the overall liquidity of the token.

Referral program

Wixi offers its users the opportunity to earn money through its affiliate program. In this case, you will earn money not only for the person who signed up through your referral link, but also for the referral of your referral. See the terms and conditions for more details:

  • 30–50% of the commissions paid by your referrals (on spot and margin trading)
  • 5–10% of the cost of insurance taken out by your referrals. After $1.5 thousand is credited, the reward is reduced to 3%. In addition, you can receive deductions for those who have registered through a referral link.

To become an affiliate, go to Personal Account — Affiliate Program — Settings. There you will be able to see your personal link.

In my opinion, this is a great option for passive income, where you do not even have to make any effort, but you can get at least $250-$300 per month.

Conclusion

At the moment Wixi Exchange takes a place in the top 3 exchanges in my personal rating. It meets all the necessary criteria for comfortable work: security, low commissions, availability of basic tools for trading, comfort and bonuses for users.

Talking about “Wixi Insurance” — it is not just cool, but a really necessary product for all market participants. I don’t know a single person who would trade without being afraid of even minimal deposit losses. And if Wixi solves the most important problem of traders, then their product definitely deserves to become number 1 on the crypto market.

Early next year, Wixi is expected to undergo a major rebranding, launch a mobile app for IOS and Android, and develop a Telegram bot for customers. The number of users and brand awareness will only increase, which means we expect the token price to rise as soon as possible. And if you liked this review, in the next articles I will show more cases about insurance, because it has helped me more than once. Write in the comments if you have had similar cases, if you already insure your trades or if you trade on Wixi. Share your opinion and good luck to all!

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Josh Crypto Bard

My blog is about how I invest in cryptocurrency, tell you about interesting projects, news on the crypto market, blockchain technology