A cryptocurrency exchange platform based in Estonia is changing the game of crypto trading by providing an exchange platform that you can use for free as long as you pay a fixed subscription fee every month. The exchange has reportedly hit over 500,000 pre-registered eager users who still have to wait for a month before the exchange actually launches.
The tradition model followed by almost every cryptocurrency exchange platforms charges a fee for every trade on the platform. While on DX.Exchange, you can trade up to 50,000 EUR worth of cryptocurrency without any commission while paying the monthly fee of 10 EUR. Exceeding this limit will charge an extra fee which is calculated in percentages.
The Estonian exchange has earned to licenses to operate, both from Estonian ministry of economic affairs and communications. The crypto exchange has also announced that the company has partnered up with Nasdaq, a multinational stock exchange company who will be lending its matching engine to DX.Exchange to arrange trades on the platform. Nasdaq took its time before confirming the news for the public.
Even if we haven’t received a confirmation from Nasdaq, we can still be sure that DX.Exchange’s claims are valid because Nasdaq has reportedly licensed its technology to select cryptocurrency exchanges. Like Gemini is using Nasdaq’s surveillance technology which helps the system in preventing market manipulation by malicious traders and other such illegal activities. Obviously, the exchange is attracting so much attraction mainly because of the partnership with Nasdaq and its acquisition of regulatory licenses from the Estonian administration. The exchange has also confirmed this fact.
Daniel Skowronski, CEO and Co-Founder of DX.Exchange said that a number of banks and brokers have reached out to the exchange and asked for a way through which they could provide access to the exchange to their clients. Skowronski believes that a large reason for this is due to the fact that the exchange holds a regulatory license and is using top-notch technology in the system. Daniel Skowronski also told that this way, the banks and brokers could connect their customers directly to a sizeable listing of cryptocurrencies and reduce their risk at the same time.
It is also worth noting that DX.Exchange has been successful in driving a considerable number of registrations in a time where the public is relatively very less interested in cryptocurrencies. The industry is on a clear decline, not only in terms of price variations but also in terms of daily trading volumes. Data from the renowned cryptocurrency analysis service provider CoinMarketCap shows that the daily trading volume today is 50% less than it was during the start of this year. In January, the market was reported to have processed $40 billion worth of cryptocurrency transactions daily. DX.Exchange is not the only cryptocurrency exchange who is enjoying this attention either, Binance has reported that its user base has quadrupled to 9 million users during the first two quarters of 2018.