№ 13 | Ethfinex - Cryptocurrency Exchanger Review CENTRALIZED
Ethfinex is a decentralized cryptocurrency exchange for Ethereum (ETH) ERC-20 tokens.
The platform is based on the model of smart-contracts. The cryptocurrency exchange works for beginners and experienced traders and is going to become the main platform for all who want to trade with tokens based on the Ethereum.
A set of additional tools and modules will allow clients to work on their projects.
In search of a compromise between centralized and decentralized models, Ethfinex offers a solution in the form of a hybrid model in which a set of APIs and smart-contracts will allow external protocols to interact with Ethfinex. The process of gradual decentralization developers plan to conduct using their own coin - Nectar (NEC). NEC will not be used for ICO and any other fundraising.
Ethfinex largely copies the Bitfinex cryptocurrency exchange and offers a modern interface for trading. Ethfinex provides clients with a wide range of trading tools for analysis and margin trading. Users can open a large number of different types of orders, including limit, market and stop orders. Besides, Ethfinex supports the US dollar, both for cash-in and withdraw and for trading as well.
Ethfinex security protocols are different from the protocols of Bitfinex, because of a large number of documented hacker attacks.
The focus is on cold wallets. About 99.5% of all funds are holding on the cold wallets. The platform creates its own portal for the ethereum community, which allows developers, traders and enthusiasts not only to communicate, but also to share their ideas. It is possible to discuss the situation on the market, as well as the upcoming listings. Traders and developers can share their opinions about some tokens.
To sum up, it can be brought to conclusion, that Ethfinex took everyone together and established itself as a valuable source of valid information. Imagine the service that not only allows people to trade, but also offers information to guide their decision. This is quite interactive, a person can get information provided by experienced traders, which makes it an objective source.
The daily trading volume of Ethfinex is approximately close to $7 millions of dollars. At the time of writing, 148 crypto assets are listed on Ethfinex.
- Huge token’s diversity;
- Wide range of trading tools for analysis and margin trading;
- Decentralized exchange;
- Fiat support;
- iOS and Android apps.
- No Bitcoin support;
- Dependent on the Ethereum network.