Five Ambitious New Cryptocurrency Exchanges

The Bitcoin boom and subsequent depreciation have made it important for ambitious new cryptocurrency exchanges to emerge . While the boom has been accompanied by hacking and scams, the recent history of cryptocurrencies and their exchanges is a cautionary tale. A recent hack, for example, saw hackers steal billions of dollars’ worth of virtual assets, including Bitcoin.

Cryptocurrency exchange – WazirX

In its first five months, WazirX has grown 10x, processing crypto trades worth over $380 million. Moreover, the exchange’s user base has grown by 50%, to 3 million. Now, it processes more than $380 million in trades a week. However, the company will need to make sure that it can scale to the next level.

WazirX has stringent security measures to protect its users’ information. Moreover, the exchange follows strict KYC/AML guidelines, and its multi-signature wallet system provides additional protection. Moreover, 95% of its funds are kept in cold storage.

Cryptocurrency exchange – Centralex

If you’ve been interested in beleggen in bitcoin, you might have heard of Centralex. It is an ambitious new exchange that’s aiming to be the largest cryptocurrency exchange in the world. It will offer trading in more than 12 different markets. To start, the exchange will offer fee-free trading for the first month. After that, fees will average out to 0.098 percent. Users can pay their fees with CenX, a deflationary token that Centralex is releasing.

Currently in beta, Centralex’s launch is expected in November. The company is backed by a group of investors that includes Charles Schwab, Fidelity Investments, Virtu Financial, and Sequoia Capital.

Cryptocurrency exchange – CoinDesk

CoinDesk is an ambitious new cryptocurrency platform that aims to bring the crypto community closer together. It is a decentralized exchange that coordinates the large-scale trading of digital assets. The platform is self-managed, and it doesn’t act as a financial intermediary, but instead relies on automated algorithms to conduct trades. The company aims to improve internal organization and engagement, but it has experienced problems in the past.

Cryptocurrency exchange – EDX

The founders of EDX are hoping that a new cryptocurrency exchange can make traditional finance and the digital market more efficient. They are also hoping that their venture will provide investors with cost savings. According to CEO Jamil Nazarali, the EDX could make cryptocurrency trading as cost-effective as investing in stocks. To illustrate this point, Nazarali cited the example of buying $5,000 of an S&P 500 ETF. The cost of this trade is measured in the spread, which is cut by an intermediary. With EDX, a similar sized BTC trade could cost as little as $25.

With support from venture capital firms, market makers, and broker-dealers, EDX Markets plans to create an exchange that operates much like a traditional exchange. It has already received backing from Charles Schwab, Fidelity Digital Assets, Paradigm, and Sequoia Capital, and hopes to attract more partners over time. The EDX management team includes Jamil Nazarali, Tony Acuna-Rohter, and David Forman.

Cryptocurrency exchange – Lucky Block Telegram

Lucky Block is an ambitious new cryptocurrency exchange that uses smart contract technology to run its lottery platform. By using this technology, outcomes are never predetermined or manipulated. The platform has already seen a significant rise in value on the Pancakeswap exchange and is planning to list on Binance in the near future. Its native token is called LBLOCK.

Telegram has an impressive history of making headlines, and it has fought off behemoth competitors and nation states to gain its position. The company has successfully raised over $1.7 billion in financing by selling crypto on its private marketplace. It has also attracted major private investors and venture capital firms from Silicon Valley.