The NEX exchange is an ambitious project. They want to create the first Decentralized Exchange — DEX that will support all NEO tokens while being able to support the large volumes that centralized exchanges can.
Centralized exchanges can handle a lot of volume without slowing down. So only 2 years ago the 24 hour volume of the entire cryptocurrency market was around 20 million dollars. If you check, you will see that there was a 24 hour volume of about 70 billion dollars during January 2018. When depositing you funds on a centralized exchange, they are actually controlled by the people owning the exchange. You funds are no longer yours and you depend on their integrity and hope they do not run off with your money.
Another downside is that these exchanges can be hacked. This has happened before and it happens quite often these days as well.
So the people running an exchange have realized they have to evolve fast. Some are aiming to becoming decentralized in the future.
The transactions are being done on-chain, with the help of a smart contract and when they become a lot, the system slows down. NEX are aiming to tackle this problem in the following manner — the order matching will be done off-chain alleviating the strongest computing element, the blockchain and the smart contracts. After the orders get matched off-chain, they get commited on-chain.
You can read our in-depth analysis and further specifics on the project here:
https://cryptohydra.com/ico-reports/nex-exchange-nex-fast-decentralized-nep-5-supporting-exchange/
Trading Bitcoin and other cryptocurrencies can be done peer-to-peer(p2p) or on the exchanges where you have security. The safest exchanges are usually the top volume exchanges as being in the top they have all eyes on them and can not afford to not operate properly. Down are some that we are using and have not had any problems with:
If you have not created an account on the biggest cryptocurrency exchange you can do it here https://www.binance.com/?ref=35174812 It is fast and free. This is a safe link, verified by us, going directly to the exchange, as there are many phishing sites, please be aware and careful. Also note that the exchanges close registrations for an undetermined timespan when they get overwhelmed, so even if you do not intend on trading now, someday you might decide to and not have the opportunity.
Here are also verified links to good emerging exchanges:
https://www.bibox.com/signPage?id=11305621&lang=en
https://www.kucoin.com/#/?r=E5Od-k
https://www.huobi.br.com/en-us/topic/invited/?invite_code=a6d93
And the biggest fiat currency to crypto gateway https://www.coinbase.com/join/592873b03f676a0d916fc908, where you can get a 10$ bonus following this link.
Full disclosure: those are referral links, we will get a certain percentage from your trading fees, which you pay either way. In this manner you are supporting our work.
You can follow us on our official facebook page - https://www.facebook.com/cryptohydra/
Or in these groups where we have daily discussions on crypto -
https://www.facebook.com/groups/kriptovaluti.bg/?ref=bookmarks
https://www.facebook.com/groups/1964897273826859/?ref=bookmarks
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