Join the Decentralized Revolution Exchange Crypto-Bridge
Crypto-Bridge A Decentralized Exchange for the rest of us!
If you are reading this post you probably already know a little bit about crypto. And you probably have some experience with one or more of the top exchanges found here https://coinmarketcap.com/exchanges/volume/24-hour/
However, you maybe wondering why am I writing about an exchange that is ranked 102nd in terms of daily volume.
Well let me first start out by saying, I stumbled on this exchange because it was an exchange that supported SmartCash during the SmartNode roll out stage. More popular exchanges like HitBTC (ranked 11th) and Cryptopia (ranked 43rd) were having trouble supporting SmartCash deposits and withdraws.
It was odd that an exchange ranked 102nd supported the new code and these more popular exchanges were having issues. As I dug deeper, I realized that most of the top 50 exchanges are run by some centralized company or group of people and with that comes a bias on which cryptos to focus support on.
Since I really didn't care much about the politics of exchanges, I just wanted to buy some smartcash so I could run a smartnode and crypto-bridge just worked.
I don't want to make it sound like crypto-bridge is the end all be all exchange that is out there. But, someday it could be if we all signed up and started to use it.
Here are some points to consider and why you should use crypto-bridge:
- It's decentralized. Isn't this one of the reason you got into crypto in the first place?
- It has profit sharing. If you stake BCO coin you get to participate in 50% of the profits made from the exchange
- Security - CryptoBridge is a decentralized exchange (DEX) and will work even if Cryptobridge the developer goes out of business (since it runs on the BitShares network). You control your cryptos as you hold the private keys to your wallet.
Benefits
Cons
For more info visit: https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
Here are some videos to watch
DEX is better than centralized exchange.. the only problem is, its come with high transaction fee.
do you have some examples? Centralized exchanges charge fees too and in some cases like coinbase the fees are crazy expensive unless you use their GDAX system. If you use GDAX the fees are free or so they say. I still think that the exchanges use the spread to their advantage and you may think you are getting 0 fees but I have a feeling they are still making money off of us all.
GDAX is free if you use Limit Orders. Market orders and any taker order charge a fee.
I think it's great with as many companies on the bitshares as possible.
In the long run I don't believe in the paying part of the fees to the stakers philosophy, though.
I know Cryptobridge charges much less than centralized exchanges, but I still prefer not paying fees at all like on rudex and openledger.
Which benefits do you think cryptobridge offers to non-stakers, compared to the other bitshares exchanges? (would love to learn something I've overlooked!)
If we get more adoption then non-stakers will have more choice between the number of coins to pick from. One way or another we are all going to pay the exchanges otherwise the exchanges wouldn't exist. I don't believe exchange charge no fees even if they say they do. Thank you, I didn't know about openledger or rudex. But I do know that neither of them sold SmartCash. I think openledger charges BTS fees as well?
I agree the more available coins on bitshares the better, no doubt about it!
The bts blockchain charges a fee every time there's a transaction, that doesn't go to the gateways it goes back to the bitshares reserve pool.
But if you trade a token that's not native to the blockchain like open.btc or bridge.btc then the company who created the token can choose to take an additional market fee, usually 0.2%. But if you trade on openledger directly you don't pay that fee, just the 0.00092bts for the transaction which is nothing.
Rudex and openledger also earn money from being bitshares witnesses, and have other side projects, so I imagine cryptobridge is doing something similar to maximize earnings.
So is this the exchange you would recommend for getting Smart Cash? I've been trying to figure out which one would be best.
yep.
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