Although it is one of the top-performing blockchain networks, Cardano is yet to have a native Decentralized Exchange (DEX) like those found in other blockchain networks. Currently, there exists no exchange list for tokens of projects that are based on the Cardano blockchain. This will soon become a thing of the past, now that the team at DOEX is making some serious headway into the development of their project. DOEX is set to be the first Cardano Blockchain-based DEX, and according to its roadmap, the DOEX DEX is scheduled to launch by the end of the year.
What is a DEX?
A Decentralized Exchange or DEX (DEX) is a blockchain-based application that is accessible through a series of smart contracts and is designed to facilitate financial services that are traditionally carried by a central entity in a decentralized manner.
With a DEX, trustless parties can carry out financial transactions by relying only on the self-enforcing ability of smart contracts. Apart from decentralizing access to financial services, it also ensures that profits from the financial services are decentralized. Participants that provide liquidity to facilitate exchange, swap, and other types of operations on decentralized exchanges are rewarded with a small, serving as a means of passive income generation for individuals.
On its website, DOEX clearly states its vision to be the first Cardano-based DEX:
“Our vision is to become the first Cardano-based DEX,ensuring interoperability across chains and allow for the seamless swap of tokens both on the Cardano blockchain and other ones like Ethereum via a fool-proof bridge or converter. This is part of our extended vision of laying a solid background for extended business and expansion opportunities. Our long-term objective is to be the one-stop-shop for DeFi services on the Cardano blockchain, including but not limited to, staking and asset management.”
However, despite the scalability and functionality of the Cardano blockchain, it is far behind the top three blockchains when it comes to DEX daily wallet activity. According to the most recent DappRadar data, the clear winner is Ethereum with 3447, TRON with 1665, and EOS with more than 750, as seen in the graphic below:
While Cardano may have superior technology, pent-up demand, and visionary leadership, it has a lot of ground to make up to even come close to catching up. As with so much in crypto, we’ll have to wait and see.
On the Flipside:
Ethereum continues to be a juggernaut regarding DeFi, NFTs, and DEXs.
The most recent DappRadar data shows that DEX Ethereum is the dominant protocol, holding 64% of the total daily active unique wallet activity.
Daily active unique wallets on Ethereum grew 48% from 2019 to 2020 – it will be a challenge for any competitor to overtake Ethereum – not impossible but not a certainty.
Why You Should Care
Interest in DeFi continues to grow as DeFi Pulse shows that nearly $95.4 billion is locked on various DeFi protocols. Once this bull cycle winds down, expect to see profits flood into DeFi as a safe harbor to help “bear” the inevitable bear market. Given that expected growth, there’s likely to be plenty of room for an array of DEXs and blockchains.
Robinhood COO Christine Brown appeared as a guest during Tuesday’s Crypto Goes Mainstream event and talked about the possibility of the Shiba Inu listing and upcoming crypto wallet feature
More than 500,000 users have signed the Change.org petition imploring Robinhood to list SHIB
Cryptocurrency wallet feature is reportedly coming to Robinhood users in early 2022
Christine Brown, Robinhood’s chief operating officer (COO) was interviewed during Tuesday’s Crypto Goes Mainstream event hosted by Yahoo Finance and Decrypt, where she was asked about the possibility of Robinhood listing Shiba Inu (SHIB) and talked about the growing waitlist for the cryptocurrency wallet.
500,000 users sign petition requesting Robinhood to list Shiba Inu
In addition to Brown, the event featured prominent speakers from the cryptocurrency industry and traditional finance, such as FTX CEO Sam Bankman-Fried, Solana founder Anatoly Yakovenko, and VaynerMedia CEO Gary Vaynerchuk.
The COO of Robinhood had kind things to say about the Shiba Inu community and about the level of engagement that memecoins generate from their holders. Brown said she welcomes communities’ willingness to “let us know what they want.”
SHIB supporters certainly don’t shy away from making their intentions clear. According to a growing list of signatures, there is a huge amount of interest for a SHIB listing on Robinhood as more than 500,000 users have already signed the Change.org petition.
Judging by her comments, Brown made apparent that the commission-free investing app will not list SHIB in the near future. Brown stated that Robinhood is focused on assets with long-term potential and refrains from making listing decisions based on short-term gains.
“Our strategy is different than a lot of the other players out there who are racing to list as many assets as possible right now.”
During the 15 minutes long interview, Brown was also asked about the upcoming cryptocurrency wallet feature, which will let users transfer their digital assets to and off the exchange platform. According to Brown, the waitlist for the cryptocurrency wallet has grown to 1.6 million users. She added that the product is currently in the alpha stages of development and that the company is making sure things are done precisely and with a security-first mindset.
On Monday, Coinbase launched its cryptocurrency wallet as a standalone browser extension. With the latest update, Coinbase Wallet users can now access their NFTs, store and transfer more than 500 supported digital assets, and trade their crypto on various decentralized exchanges from the comfort of their browser.
Key takeaways:
When Coinbase first launched its wallet for desktops, users were able to access decentralized applications, but not without identity confirmation from a mobile device.
The new upgrade makes the desktop wallet client completely independent as users no longer have to confirm their transactions on their smartphones, while also having access to the full functionality of the Coinbase Wallet product.
You can install the new browser extension or upgrade your existing browser add-on by heading to the Chrome Web Store.
Coinbase Wallet users can now access the service from their smartphones, or desktop browsers. The extension is currently available only for browsers built on the Chromium engine that have support for Web Store extensions.
WalleLink users must enter their ‘recovery phase’ when logging into the Coinbase Wallet extension for the first time. You can choose to keep handling transaction confirmation from your mobile device if you are not interested in the new stand-alone functionality.
Coinbase shared a ‘gif’ in its blog post, which showcases the wallet onboarding process for new users.
A step-by-step guide showcasing how to set up Coinbase Wallet browser extension. Image source: Coinbase
Revolut, a rapidly growing fintech company headquartered in London, is looking to hire a blockchain specialist to lead its technical team tasked with designing and building the Revolut Crypto exchange.
Key takeaways:
According to a job advertisement posted on Linkedin, Revolut is searching for the right candidate to lead its nascent team of software developers that will be building the cryptocurrency exchange service for the popular digital bank.
The digital bank is looking for a candidate with experience in building order matching systems that are the backbone of exchange offerings. In addition, at least seven years in the tech industry and in-depth familiarity with backend development are required. As of the time of this writing, 27 candidates have already filed their job application.
Revolut had first started offering cryptocurrency-related services at the tail end of 2017 when the company first rolled out its digital currency trading feature. While Revolut users were first limited to buying, selling, and holding Bitcoin, Ethereum, and Litecoin, the list of supported digital assets has since expanded to include more than 50 digital currencies.
According to two anonymous sources familiar with the plans, the UK’s biggest fintech firm is reportedly considering launching its own digital token, similar in functionality to Binance’s BNB.
After successfully completing the $800 million funding round led by SoftBank in July, Revolut’s valuation sits at $33 billion. The internet-only bank is used by over 16 million users across the world.
Leading cryptocurrency exchange Coinbase is reportedly testing a new subscription service, which gives users access to additional features, such as zero-fee trading and priority customer support. The new product is named Coinbase One and presents the opportunity for the publicly traded exchange to diversify its income stream, which is currently almost exclusively based on trading fees.
Key takeaways:
According to the cryptocurrency news site The Block, the new feature is currently limited to a small number of test group users. It is not yet known how much Counbase intends to charge for the new service.
In addition to trades with no fees and priority customer support accessible around the clock, even on weekends, Coinbase One also brings added account security measures.
Per the exchange’s notes, victims of an account takeover will be eligible to receive up to $1 million in reimbursements.
Costumers in the test group pay no fees for each trade; however, they still have to pay fees on spread trades, which are usually executed with options or futures contracts.
During the pilot program’s duration, Coinbase will collect feedback from a select number of users and tailor features and pricing of the new feature according to user needs and wants.
According to Coinbase CFO Alesia Haas, the exchange is looking to expand its offering beyond traditional cryptocurrency investing to accommodate users’ needs who are becoming increasingly more involved with products such as “staking, earning, and borrowing/lending.”
ProBit Global will launch the IEO for blockchain-based white-label loyalty rewards solution Again Project starting November 8, 2021. Holders of PROB, the platform’s utility token, will also benefit from a 5% bonus to increase their IEO holdings.
The Again Project approaches blockchain adoption with a universal use case for the masses by rewarding anyone using AGAIN with a 5% bonus, having allocated 250M of the total supply towards a dedicated rewards pool.
AGAIN tokens will provide rewards to enhance brand exposure and customer loyalty through a versatile network and exchange to enable users to maximize the value of their accounts through discounted future purchases or immediate fiat withdrawals through its cryptocurrency exchange.
Built on one of the premier scalable blockchains in Polygon, AGAIN will expedite payments and allow users to seamlessly transfer their tokens between Polygon and the underlying Ethereum network.
The Again Project commenced its launch already integrated with fully operating services e-commerce platform Digital Kingdom and web hosting service provider DOMR while partnerships with aligning merchants will continue to bolster its universally monetizable system of crypto-rewards points based on real-life, immutable value.
ABOUT AGAIN PROJECT
Again Coin is a blockchain-based loyalty reward coin providing payment options with cashback rewards being offered for all transactions in the form of its utility token.
ABOUT PROBIT GLOBAL
ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 700+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 41 different languages Marketing and community support in 8 key languages
Join our active programs and get huge benefits! 1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee 2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit 3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns
Following an infusion of $5M in funding from South African VC DafriGroup PLC, digital financial solution Dafri Bank Limited will continue the sales of its digital token with a new IEO on ProBit Global starting November 2, 2021.
With an end goal of expanding to a full-scale commercial bank to provide wide-scale financial services catered to African users, DafriBank currently expedites payments and remittances for a customer base spanning over 180 countries.
The borderless solution is currently exploring the highly ripe intersection between digital financial services with a modern approach to disruptive technology, namely cryptocurrency. DafriXchange provides a user-friendly onramp to cryptocurrency trading complemented by several markets and convenient trading options.
DBA tokens serve as payment currency for the entire ecosystem and will also be used for future DeFi and real estate services. Travelers can conveniently book luxury accommodations and flight reservations through OMAHA Hotels Ltd and the upcoming service DafriaAir.
ABOUT DIGITAL BANK OF AFRICA
DafriBank Digital LTD is a fully-fledged bank duly licensed and regulated by the Central Bank of Comoros Island and a member of the Mwali Banking Association of the Union of Comoros. The financial technology company is the largest digital entrepreneurs focused bank in Africa and is a flagship brand of the DafriGroup PLC, a public company incorporated in South Africa, UK, Botswana, Nigeria and Comoros Island.
ABOUT PROBIT GLOBAL
ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 700+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 41 different languages Marketing and community support in 8 key languages
Join our active programs and get huge benefits! 1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee 2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit 3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns
In a bid to accelerate the development of its fully decentralized P2P trading platform for SMEs, AWNEX has commenced with listing on ProBit Global for traders to purchase its AWN utility token.
The GachiSS platform removes significant pain points by completely removing middleman interference for a fair market B2B network. Awnex’s utility token will facilitate crypto transactions for the convenient trading of products digitized as coupons.
AWN holders will be able to trade a wide range of assets by digitally locking them into its escrow services, enabling businesses to capitalize on significant increases in transaction latency and lowered fees. The MIX shopping mall will also support both fiat and crypto payments held in secure custody by a proprietary wallet.
The Awnex blockchain can attain 4,000 tps and improved throughput to effortlessly mint digital coupons with the team targeting a market opportunity of over 7M SME and private businesses.
ABOUT AWNEX
The WE SHARE app built by AWNEX can exchange and sell personal assets and services issued as digital coupons based on blockchain, and is an O2O platform built to issue and sell individual NFTs.
ABOUT PROBIT GLOBAL
ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 700+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 41 different languages Marketing and community support in 8 key languages
Join our active programs and get huge benefits! 1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee 2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit 3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns
Most people who are familiar with cryptocurrency trading use spot markets with the intention of taking advantage of a good buying opportunity or sell their digital assets at an opportune time to maximize their profits.
TurboXBT expands the established paradigm of cryptocurrency trading by offering a system of synthetic short-term contracts that enables traders to make high-earning plays and to turn the market’s short-term volatility to their advantage.
Seamless user interface with an emphasis on simplicity and speed
Up to 90% profit margin with flexible trade entry points and instantaneous orders
Innovative system of synthetic short-term contracts
No KYC required
Cons of TurboXBT
A relatively modest selection of supported assets with only 4 cryptocurrency options
Not available to residents of the US, Canada, Russia, and several other countries
TurboXBT features review
TurboXBT is a trading platform that supports 17 different assets and 38 trading pairs in total. By correctly predicting price movements in 30 seconds to 15 minutes long time intervals, TurboXBT users can earn up to 90% on each trade. While the interface is very visually appealing, it was designed with simplicity in mind, which means that it doesn’t get in the way so you can focus on the most important thing – making profitable trades. Let’s take a detailed look at the interface before diving deeper into the platform’s features.
Seamless user experience and lag-free trades
The interface is separated into two distinct zones. On the left side of the screen, you will find the Account statistics bar, which consists of six tabs that offer quick access to some of the most important features.
Here’s a quick summary of the six tabs located on the left side:
Positions: list of your active trades.
Trade History: list of your past trades.
All Trades: trades made by other users on the platform.
Leaderboard: a leaderboard showing the 15 most active traders on TurboXBT over the last day.
Transfers: deposit and withdrawal options.
Account: account preferences can be found here.
Occupying the center and right side of the main page is the so-called Prediction interface, where the trading chart and prediction parameters are displayed. From here, you can define your preferred duration and amount parameters before executing your contract using the UP or DOWN button.
The interface is a pleasure to use and easy to understand. TurboXBT provides clearly defined profit and risk expectations prior to positions being taken.
If you are not familiar with short-term trading, TurboXBT provides a 1000$ demo account, that requires no sign-in, and allows you to test out your trading strategy before diving into real money trades. To give the demo account a try, click here.
How to use synthetic short-term contracts?
Trading on TurboXBT couldn’t be made easier. In essence, you have to predict the price of a certain asset at the time of the expiration of your contract. If you think that an asset’s price will be lower after the expiration of your position, click on the DOWN button. If, on the other hand, you think that the price will increase, click on the UP button.
Depending on the selected instrument you can make up to 90% profit from a single trade. TurboXBT provides 5 different timeframes: 30 seconds, 1 minute, 5 minutes, 10 minutes and 15 minutes.
Let’s take a look at different position parameters and examine how trading works in the following examples.
What happens when I make a correct prediction?
First, we have to select a trading pair. In this case, we will use BTC/USD and make a trade predicting that the price will decrease in the next 30 seconds. We’ve selected an amount of 0.0001 BTC for this trade.
If the expected profit indicator is colored green it means that we stand to profit the said amount upon the contract expiration. In other words, if the price of BTC/USD will be lower than it was at the time we have executed the synthetic contract, then we will make a +90% profit or 0.00009 BTC from our prediction.
What happens when I make an incorrect prediction?
In our second example, we will show what happens when we make a prediction that turns out to be incorrect. Again, we have selected BTC/USD trading pair, staked 0.001 BTC on our prediction, and decided to set the duration at 30 seconds.
In contrast to before, the expected profit indicator has turned red, which means that we are currently expecting to lose funds when the contract runs its course. If that happens we are going to lose out 0.001 BTC investment. Do note, that a demo account was used for these examples.
As with every kind of financial investment, trading on TurboXBT is not risk-free. The company cautions customers to trade within their means:
“Trading on TurboXBT platform involves a significant level of risk and is not suitable and/or appropriate for all clients. You should never invest funds you cannot afford to lose.”
Which assets can be traded on TurboXBT?
TurboXBT supports a plethora of different assets, both in traditional markets as well as cryptocurrency options. The list of tradeable assets includes:
In total, TurboXBT allows short-term traders to predict price movements of 17 different assets, spanning from Bitcoin to oil and financial indices. In total, the platform offers 38 trading pairs. The company is planning to add more instruments later on, depending on whether their liquidity becomes sufficient to facilitate short-term trades.
How to get your funds in and out of TurboXBT?
Before onboarding funds to TurboXBT, you first have to open an exchange account. The process takes only a couple of minutes, since TurboXBT doesn’t enforce know your customer (KYC) checks on your personal information.
At the moment, TurboXBT accepts four different types of deposit options, which are: Bitcoin, Ethereum, Tether and USD Coin. Both stablecoins options are accepted only in the ERC-20 variety. In order to deposit funds, you have to send them to a private Deposit Address, which is provided by TurboXBT.
Usually, BTC deposits take up to 40 minutes to clear, while ETH and stablecoins take only up to 4 minutes. There are no minimum or maximum deposit limits.
When you wish to make a withdrawal, you have to provide your external crypto wallet address. Once your address is whitelisted via the PIN that is sent to you via email, it can then be used for future withdrawals without additional confirmations.
Do note that any withdrawal requested after 12:00 UTC will be processed on the next day.
While TurboXBT charges no commissions for trades, deposits, and withdrawals, additional costs can be accrued due to blockchain network fees, which are wholly dependent on network bottlenecks.
Trade when on the go with TurboXBT
While TurboXBT doesn’t offer dedicated apps for iOS and Android platforms as of right now, the lighter and streamlined mobile version of the platform was designed with smaller screens of mobile devices in mind.
You can access every feature from the mobile browser, however, using a larger screen and a stable broadband internet connection is advised, especially when trading on shorter timeframes.
TurboXBT provides a secure and stable trading experience
TurboXBT prides itself on ensuring a 99.9% uptime, which is absolutely crucial for a short-term trading platform. While the exchange doesn’t require a KYC, it nevertheless provides bank-grade security and employs extensive security measures to safeguard all user’s funds.
TurboXBT is licensed and AML-compliant in order to reduce the risk of criminal financial activity from taking place on the platform and potentially endangering the safety of users’ funds.
While residents of most counties can access the exchange, citizens of several nations are not permitted to engage in trading activities on TurboXBT. An up-to-date list of restricted countries can be found at the bottom of the homepage, under the “Regional and other client restrictions” section.
Customer support and social media
If you have any questions or are unsure about how certain features work, you can head to the so-called Knowledge Base section, which houses all of the most frequently asked questions (FAQ), the quick start guide, and more. You can also take advantage of live support customer service, which is live 24/7 and usually takes under 5 minutes to answer any inquiries.
TurboXBT is present on all of the most popular social media platforms, where the team regularly shares news of upcoming events and features rollouts.
TurboXBT offers a great trading experience for those who are looking to expand their trading beyond the confines of spot markets and wish to partake in the higher-earning potential of short-term trading.
The platform is very easy to navigate, has a transparent payout structure, and provides a very useful demo feature, which is perfect for those who lack experience in short-term trading. The overall suite of features will satisfy the needs of experienced investors and beginners alike.
