Stellar Opens New Decentralized Exchange
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Stellar has just opened a decentralized exchange that uses peer-to-peer transactions called StellarX. I signed up and the platform looks incredibly easy to use, it's beautiful in its simplicity... and anyone who knows me knows that if I say it's easy to use- it has to be. Another selling point is that it's free- there are NO transaction fees. You can also use the exchange to convert fiat currencies into tokens or Tether type cryptos. You can transfer money directly from your bank to the exchange.
In perusing the site I did notice that several prominent coins were missing- EOS and Steem among them. I'm not sure if it's because nobody has traded them yet or not. Being peer-to-peer it would seem that the exchange doesn't hold your tokens, it just seems like a peer-to-peer transfer system for cryptos and fiat currencies. I'm sure that once it gets used more the market page will show more coins. I like the idea of a decentralized exchange and especially the idea of one with no fees.
Another advantage I believe will be the effect of the price of XLM. Once people begin to use the exchange regularly, the price of XLM should rise significantly. Anyway, here's a link to the exchange- they can explain this much better than I can.
Hopefully this will work out something we really need is a decentralised exchange, thanks for letting us know Rich.
Thank you my friend... I haven't seen you for a while. I guess I'm spending too much time on WeKu
Hehe well I am here everyday and speaking of weku I tried twice again to sign-up with no success I just dont receive their email for whatever reason. If you ever bump into any of the developers could you let them know there seems to be a problem or any chance of a manual sign up. Do you know if any developers are on Steemit so I could perhaps contact them?
Try this, it's worked for several other friends on here...
https://deals.weku.io/pick_account?referral=richq11
Decentralized exchanges would be cool if it had the market makers. Bitshares as it is today, is one of the worst decentralized exchanges yet. There is zero liquidity and you cannot seem to get your tokens out for a fair price. Anyways, I shall signup to check it out. And yes, it definitely will have an effect on xlm's price.
Since you're into exchanges and trading, you might be interested in Digitex. They're going to build a Btc futures exchange by December with no commissionor transaction fees. And what's more? They will be having market makers as bots who are only programmed to break even.
Wrote a few posts about them already on my blog. You can check it out here and here.
I'll check them out... although I have to say I'm not a big fan of futures trading in the crypto market- that's what's ruining precious metals. Too easy to manipulate.
True that. and i think it's one of the reasons Bitcoin has stayed down for a very long time aside from the fundamentals. A lot of traders started shorting BTC since February. It's like a two-edged sword.
I agree... another thing is that the "new" has worn off. Until something comes along to force people into the market it's going to stay sort of stagnant. Everybody that didn't trust the debt-based/fiat system jumped in. Also there are so many coins out there it's become a bit overwhelming- it's a full time job keeping up with them all!
lol. True that. There's a lot and it's not easy getting to know each of them. I still feel that about 90% are shit.
A few hours ago, i ran into an article about Tauchain written by Kevinwong. Might be worth reading about. seems a lot of bright minds on here are bullish on it too.
I think 2017-18 were the years of ICO's. I think that eventually most of those shitcoins will fall by the wayside and disappear from the cryptospace. There's over 2000 coins right now... and the first thing I look at before buying any is, do they fill a need? Some fill a perceived need, but not a real one.
One reason I'm high on XLM, VET and EOS ia that they all fill blank spots in the cryptosphere. Eventually someone will come along and do it better like EOS did to ETH, but for the next year or so, I like the 3 I mentioned.
lol. XLM, VET and EOS. all platform tokens.
Bought EOS at $10 lol. sold at 6 to buy back at 4.
Noob days, yeah...
Ha! I bought at $5.40 so it looks like I broke even so far!
It is like a new frontier. So much to discover! Yes steem should be included. Thanks @richq11
I'm sure it will be. I just talked to a friend on YouTube who does crypto videos and he says that they intend to add many more coins.
There are a lot of advantages in Stellar Exchange according to your post. Thanks for the information
Thanks for checking it out.
Cheers, this was news to me and I am quite the fan of stellarr, will definitely check it out...
I really like Stellar too, I have quite a bit and it's one of the coins I have a lot of hope for, along with VeChain and EOS.
I think Vechain is undervalued from what I've heard. But I have yet to read up on them to find out why.
EOS? Definitely!
I did an article on VeChain yesterday. They're way undervalued... I think it's mostly because not enough people know about them. I bought 20,000 when they were $0.01000 and plan on buying more. When cryptos have their next runup I think VET and XLM will outperform the rest of the market.
https://deals.weku.io/community-deals/@richq11/my-altcoin-picks-for-2019
https://smartereum.com/3495/vechain-price-predictions-2018-usd-vechain-price-analysis-vechain-news-today-vechain-price-today-vechain-vet-news-today-vet-forecast-today-re-branded-to-vechain-thor-vet-partners-with-bmw-mon-oct-1/
I hope they do not have the same scalability problems that Ethereum does? I know a friend on here who's particularly bullish about it and he dubbed it as Ethereum for business
I don't think they work the same way. VeChain is like a truth machine- they trace goods and services from inception through consumption. For example in China 30,000 bottles of counterfeit wine are sold every hour. VeChain uses rfid to trace the wine from when it's bottled through transportation (including temp and environment of the container) through the retailer to the consumer. So people can just check and see if that particular bottle has already been sold and consumed.
Honestly, I think ETH is finished as the #1 platform in its field. They got into the game first, but there are too many other platforms that do the same thing (EOS). In a year or so I see ETH as a double digit coin.
Interesting usecase for Vechain.
Eth has its flaws, but i think there's a lot of huge stakeholders and it wouldn't go away without a good fight. I read about CASPER. Not sure how it will help but i'm here to see how it all plays out. Can't wait to see Cryptocurrency established yet!