Deex is a cryptocurrency exchange that aims to offer a reliable and convenient way to quickly trade, buy, and sell cryptocurrencies. Here’s our Deex review.
What is Deex?
Deex is a decentralized cryptocurrency exchange preparing to launch in the near future. The exchange conducted a pre-sale and token sale in January 2018. As of January 16, 2018, the company’s token sale has raised over 4,000 ETH, with a total of 2.4 million deex tokens sold.
When the exchange launches, Deex plans to offer 10 cryptocurrencies available for trading, including bitcoin, Ethereum, and altcoins. The goal is to create a “reliable and convenient” platform where users can quickly trade cryptocurrencies using common fiat currency deposit methods available in their countries.
The long-term goal of Deex is to create more than just an exchange: the team wants to create an entire decentralized financial ecosystem.
The token sale for deex tokens began on January 10, 2018. A closed pre-sale took place towards the end of 2017.
The platform is actively in development by a Russia-based team.
How Does Deex Work?
Deex is a decentralized financial ecosystem based on the BitShares 2.0 platform. The goal is to create a platform that replicates the features and functionalities of centralized exchanges without their major shortcomings.
Today’s centralized exchanges, for example, are exposed to a number of risks like security threats, unfair competition, danger of sanctions, and more. These exchanges keep all customer funds and data in a single, centralized place, creating a major security threat. Over $500 million in cryptocurrencies has been stolen from centralized exchanges to date.
Deex aims to solve this problem by creating a decentralized exchange with all of thee features of a centralized exchange. Clients have complete control over their funds, while still enjoying features you would expect when dealing with the BitShares 2.0 (Graphene) blockchain, described in a Deex press release as “an extremely fast and reliable platform with not a single hacking record since its creation.”
BitShares 2.0 allows for 100,000 transactions, for example. It also allows for the creation of smart contracts.
Deex Features and Benefits
The long-term goal of Deex is to create an entire decentralized financial ecosystem. That ecosystem includes all of the following features and benefits:
Two factor authentication to give users enhanced security
A built-in P2P messenger
A decentralized, transparent blockchain fund called the Deex.fund
The ability to restore accounts after losing access to your password
High liquidity across a large number of trading pairs
24/7 technical support
Hardware cryptowallet support for cold storage of cryptocurrencies and tokens
Desktop and mobile applications for convenient trading
Trading robots for automatic trading
A platform where companies can safely conduct ICOs with the decentralized escrow toolkit from Descrow.org
A platform for creating a decentralized, transparent blockchain system for cryptofund managed by Deex professional traders
Cryptocurrency debit cards linked to users’ wallets on Deex for integration into fiat gateways
An API for the integration of third party applications and services within the Deex platform
A network of crypto ATMs where users can exchange fiat currency for cryptocurrency in the real world