dx crypto exchange.jpg

A crypto exchange with zero trading fees. Launching Next Month.

Looks like there are plans for an upcoming cryptocurrency exchange to use the new Nasdaq technology.

The new centralized cryptocurrency exchange “DX” will use a technology provided by Nasdaq, says CEO of the project Daniel Skowronski. He calls the new crypto exchange the one stop shop for “exchanging fiat and crypto, holding coins and as well as wallet services.”

DX Interface1.jpg
Interface of DX

According to Cointelegraph, the DX exchange platform will not charge for trading and it will be trading with the top 6 cryptocurrencies. This includes Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. During the second phase, the cryptocurrency exchange should add at least 20 or 25 new coins, together with some smaller ones, said Skowronski. Unfortunately, these “future” assets are not known yet.

Skowronski also said:

“We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed.”

Also, it shouldn’t be a surprise, but at launch, the DX exchange won’t be available to the users from the United States. Luckily, the exchange is in close contact with the regulators.

Traders will be able to buy cryptocurrency with fiat money, and trade token-to-token basis. Luckily, we will get the ability to convert crypto to fiat and withdraw it.

The DX exchange will closely monitor new coins that want to be listed on the exchange. They will have to go through a 3 step verification process. It includes the initial application, an interview, and due diligence done by the house.

DX Interface2.png
Interface of DX

Even though the exchange will not charge for trading, the users will still have to pay a monthly subscription of around 10 euros. Skowronski stated that the KYC (Know Your Customer) process and verification will be much faster than the traditional one seen at many decentralized exchanges. It will be done by submitting an email and a phone number “Without undermining the necessary KYC and AML components, required by the regulator,” said Skowronski.

We are happy to note that the exchange has a serious opinion on cybersecurity. This is a major problem for crypto exchanges, but Skowronski assures us by saying that the NASDAQ infrastructure will help them tackle the problem, as well as hiring the best specialist in the field.

“People are looking for security and safety. We’re trying to be very clear so that the customers will know what they are getting”

Note: The DX exchange hired a team of 72 employees from Israel as an addition to their Research and Development team. They will lead the setup of the platform and future development.

Sources:
Cointelegraph
Financemagnates

Pictures by financemagnates.com