The invention of cryptocurrency and other digital assets warranted the need to trade these digital assets. Exchanges have been enacted over the years but yet there are several existing flaws, posing serious limitations. Through out my experience as a crypto trader, I have encountered many flaws in various cryptocurrency exchanges which need amelioration. Firstly, security issues need to be looked into. If exchanges like Bithump can be hacked, it means security need to be revamped against any form of cyber attacks like phishing , DNS spoofing and a whole lot of others. A friend of mine took ill after losing about 5 BTC on a crypto exchange due to hacks, now he is late. This issue has to be remedied to avoid cases like this sprouting up. Very high trading and withdrawal fees are also rising issues with crypto exchanges. Imagine paying up to 10$ for withdrawal on an exchange when you withdraw a total of 50$ per say, it sounds crazy right?
Most exchanges do not really have the community at heart, this is reflected when users have issues which need quick attention and it takes forever to be remedied. Very poor user interface of some exchanges and also poor speed of operation also pose drawbacks. Funny enough, some so called big exchanges have this issue of slow speed of operation (scalability issues) especially when many users are accessing the platform at same time. I remember wasting hours trying to deposit a token on HitBTC way back on mobile browser, until I ported to PC web browser, that is when it went through. A group of intellectuals looked into these malicious drawbacks and enacted EOSex, the lasting solution. Many will be wondering what EOSex stands for, it was drafted from EOS and Exchange . So basically it is an exchange for the EOS community and digital asset enthusiasts at large. There is no regional barrier, EOSex is for everyone on the globe. The addition of EOS to the name simply reflects support for the EOS platform, hence EOS is one of the base pairs for trading other digital assets.
EOSex is aimed at creating an all-in-one global digital trading platform which will allow trading of cryptocurrencies and tokenized financial derivative products. Security, transparency and fairness are some of EOSex's core values. EOSex promises Digital asset spot trading, on-chain trading and CFD trading. Also, EOSex Proof (EXP) is the native token for EOSex ecosystem. Holders of EXP will have a share in EOSex profits, reduced fees while trading on the exchange and also ability in voting for coins/tokens to be listed. From here, it is crystal clear that EOSex is community centric rather than solely focusing on profit maximization.
EOSex was enacted to curb some existing issues facing exchanges already existing prior to its establishment. As at July 2018, I had a terrible experience with a cryptocurrency exchange. I made a BTC withdrawal from the exchange and it took about a week before I got my payment. The customer service was so poor that it was crystal clear the exchange was after their profits only and not the community satisfaction. Community interest need to be at the forefront of such platforms , because without the community , there'll be no trading on the exchange and it will be of no use. EOSex promises an excellent community service. When I did my KYC on EOSex exchange, firstly I like the UI and ease of the KYC process. Secondly, it was swift and when I encountered a lil issue, it did not take up to 6 hours before it was rectified. This is how customer service should be.
Another major challenge exchanges experience is poor trading volume. Sometimes it goes to the extent of delisting some digital assets because of this very setback, but the good news is that EOSex promises to boost trading volumes and enhance liquidity for crypto assets. EOSex also promises a variety of trading pairs, FIAT currency pairs included.
Many exchanges with big names usually require extremely huge payments for listing their coins or tokens. This makes team members or project developers divert more of funds raised during Token Sale for listing, rather than product development. Listing on some big exchanges like Binance, Kucoin, Bitfinex, Huobi, Bittrex to mention but a few is usually the last option for project developers due to huge listing fees. Transparency is to be questioned with this set up, but EOSex has come to the rescue. Listing fees will be fair to allow team members channel most of their funds to project development and not otherwise.
EOSex showcases to digital asset traders a great variety of quality assets globally. Trading in futures products and options products will be made possible with EOSex, widening the access of other great digital assets to crypto traders. This is a great innovation since very few platforms offer such opportunities, not even some exchanges with the big names.
I mentioned security as a core value for EOSex, now let me give more insight on this. Many crypto traders are warry about security issues, wondering what will happen to their funds if an exchange gets hacked. EOSex stores 98% of exchange funds in cold storage, meaning it is inaccessible to hackers even if they bypass the exchange security barriers. This means just 2 % of exchange funds are held on online wallets.
Below is a comparison of EOSex with other big exchanges. I will like you to know that , since EOSex has no global restrictions, many languages have been and will be integrated into the platform. For now, there are ten. EOSex also boast of Demo trading and Coin CFD which is a rare feature with other trading platforms.
EOSex promises Digital asset spot trading, on-chain trading and CFD trading. Also, EOSex Proof (EXP) is the native token for EOSex ecosystem. Holders of EXP will have a share in EOSex profits, reduced fees while trading on the exchange and also ability in voting for coins/tokens to be listed. From here, it is crystal clear that EOSex is community centric rather than solely focusing on profit maximization.
what's more?
It is worth knowing that, EOSex proffers a hybrid exchange (both decentralized DEX and centralized CEX) with outstanding features.
EOSex team members
partners
Project Roadmap
CONCLUSION
From all indications, EOSex with its revamped features and community interest will be of great interest to digital asset traders globally.
Visit the links below for more insight on EOSex
Website: http://www.eosex.com/
Whitepaper: https://eosex.com/files/whitepaper_en.pdf
Telegram: https://t.me/EOSexOfficial
Twitter: https://twitter.com/eosexcom
Discord: https://discord.gg/GYDsubS
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=5052625
writer's information
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292