Decentralized exchanges offers hope and possibilities to the cryptocurrency community, the lack of authority in the system offers a trust-less and transparent financial transactions without manipulations.
Centralized exchanges are run by a profit-oriented company which receives revenue from the fee levied on the platform. Transactions including withdrawals are carried out based on fee payment, nullifying the idea of implementation of blockchain technology in cryptocurrency exchanges. These type of exchanges pose problems such as:
🔗 Liquidity issues and price slippage.
🔗 Not enough returns due to market manipulation.
🔗 Fraud usually leading to money loss.
🔗 Security is not sufficient.
🔗 Misuse of KYC details.
🔗 High trading fees which tend to stress out the customers.
Decentralized exchanges.
These, although not completely functional yet, have the perspective to solve some of the drawbacks associated with centralized exchanges.They eliminate the need for intermediaries in this ecosystem thus enabling smooth direct trading between the participants involved.As good as this sounds though,this type of exchange does have its setbacks:
🔗 Low time of response.
🔗 Lack of flat exchange.
🔗 There are security loopholes.
🔗 Unethical time of response.
🔗 There are high trading fees.
The BANKDEX Solution.
This is a decentralized cryptocurrency exchange that is built on an innovative technology which facilitates the inter-blockchain transfer of crypto assets. Its the first decentralized exchange which solves the transaction issue of cross-chain transfer between different blockchain accounts in a distributed ledger network. It solves challenges of both decentralized and centralized exchanges through:
🔗 Connecting different blockchains in a distributed manner.
🔗 BankDex is Enabling cross-chain and intra-chain transactions.
🔗 Integrating with any public,private or consortium chain.
🔗 Enabling high token exchange privacy. Supporting low-cost transactions.
How BANKDEX differs from other exchanges.
🔗 The underlying blockchain makes bankdex transactions faster, safer and easier.
🔗 It enables instant cancelation of a transaction at no cost.
🔗 The exchange allows transactions to be carried out without the need for registration or admin confirmation.
🔗 This decentralized exchange does not set a limit on the number of withdrawals to be carried out.
🔗 Bankdex provides seamless integration with various types of cryptocurrency wallets, including software and hardware wallets.
🔗 It is built on a peer to peer architecture without third party APIs.
🔗 The exchange enables free trading without any fees for the first 90 days after which a nominal fee of 0.003 dollars is imposed.
🔗 There is unparalleled transparency through storing all deposits, order books, and withdrawals on the blockchain.
🔗 Bankdex enables wallet to wallet transactions with a powerful blockchain smart contract put in place.
🔗 The exchange supports scalability by providing the option to trade more coins and assets in the future.
🔗 In the event of a lost account, the system has the built-in provision to allow account recovery to a new device.
🔗 The bankdex exchange includes simulator exchange, which helps to improve trading without risking real money.
The Bankdex exchange has generated an ERC-20 utility token referred to as SAM, which will be used to carry out various activities on the ecosystem. All the users who keep the tokens in their accounts from 5 to 12 months will benefit from some specified additional interest rates assigned to them.They will also benefit from free transactions in the Bankdex exchange.
CONCLUSION.
You can easily put your trust in Bankdex and enter the world of crypto trading using your SAM tokens. The future of trading is here!
For More Information
🔗 Website: https://www.bankdex.io
🔗 Facebook :https://www.facebook.com/bankdex.io
🔗 Twitter : https://twitter.com/bank_dex
🔗 Whitepaper :https://www.bankdex.io/wp-content/uploads/2019/06/WHITEPAPER.pdf
🔗 Telegram: https://t.me/bankdex
🔗 Medium :https://medium.com/@bank_dex
🔗 Linkedin :https://www.linkedin.com/organization/18708308
🔗 Github: https://github.com/bankdex
★ Author: jamesndungu1
★ BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
★ All Images credited to BankDex OFFICIAL WEBSITE
Any idea about how mature this project is before I go digging into it?
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