DX.Exchange: A Nasdaq-Powered Trading Platform for Both Crypto and Fiat
DX.Exchange is a cryptocurrency exchange platform where users can directly convert fiat currency into digital coins and vice versa, apart from the usual crypto trading services.
This all-around platform relies on the matching engine—among other technological benefits—of Nasdaq, an American stock exchange that is the second largest in the world.
The exchange received its licenses from the Estonian Financial Intelligence Unit, a branch of Estonia’s police responsible for the detection of money laundering or financial terrorism.
The launch date of DX.Exchange has been repeatedly pushed back from in the middle of 2018 to December this year.
Fake Volume Reports Plague the Scene
One problem prevalent in the crypto trading industry is fake trading volume reported by crypto exchanges. Trading bots—for example—are programmed to artificially pump up trading volumes on an exchange, misleading crypto traders to making business decisions based on misinformation.
As explained by its co-founder and CEO Daniel Skowronski, DX.Exchange would employ measures to prevent the artificial manipulation of prices on this exchange to combat the aforementioned problem.
First, the surveillance system used on DX.Exchange could detect suspicious trading activities and price movements on the exchange. Then, the system would notify the DX.Exchange team, who would manually check for any perceived wrongdoing.
In addition, DX.Exchange would introduce to token creators a list of pre-approved market makers, whose job is to manage the liquidity and the price of the listed tokens.
With these steps, DX.Exchange hopes that it would win the trust of individual and institutional crypto investors.
One-Stop Shop Crypto Trading
DX.Exchange provides the complete package in crypto trading.
Apart from trading for some of the biggest cryptos on the market—including Bitcoin (BTC), Monero (XMR), Dash (DASH), and Digibyte (DGB)—DX.Exchange offers its customers these services:
1| Crypto-Fiat Trading
Unlike many trading platforms, DX.Exchange allows fiat holders to purchase cryptos on the exchange itself. This relieves traders of the hassle of jumping from one platform to another.
Reports emerged earlier suggesting that DX.Exchange would support US dollar (USD), euro (EUR), and pound sterling (GBP) on its launch.
2| Credit Card Deposits and Withdrawals
Since this exchange allows fiat-to-crypto and crypto-to-fiat conversions, DX.Exchange supports the transfer of funds both from and to fiat credit cards—apart from crypto wallet addresses.
3| Mobile and Desktop Availability
Designed for both newcomer and advanced cryptocurrency traders, DX.Exchange can be accessed on both desktop PCs—for more multitasking possibilities—and on smartphones—for trading on the go.
4| No Trading Fees
Unlike most exchanges, trading is free on DX.Exchange. However, traders must pay a monthly fee reportedly worth around €10.
In compliance with regulations, traders on DX.Exchange must undergo KYC/AML (Know-Your-Customer/Anti-Money Laundering) procedures.
Meanwhile, the entire DX.Exchange platform is secured by an advanced system that could protect user data, information, and deposits. It could also combat malicious attacks aimed at the entire platform.