In the ecosystem of cryptocurrency exchange today, there exist two kinds of exchanges – centralized and decentralized exchanges (CEX and DEX). Centralized exchanges require a third-party or a middleman to keep it operational while the decentralized is a peer-to-peer system of operation void of a third-party. DEX is seen to be more secure, transparent and fast compared to CEX which can be manipulated by an external force or authority.
Centralized exchanges mostly necessitate users to place their private keys on the platform, trades (buy and sell order) are directed to a third-party, thereby placing the user assets at risk – middlemen are defenseless to government influence and hacking attacks. Centralized exchanges have been in existence and are seen to be the standard in the actual world, away from coins, tokens and distributed ledgers. Some of these exchanges like NASDAQ, NYSE allows the trading of stocks and similar digital asset, liquidity, and have provided low latency (quick processing of orders), and tools like marginal, and high-frequency, trading which has attracted participation from individual and institutional investors, the latter contributing to even more liquidity. CEX lacks transparency, trust, and security putting investors and traders in high risks – investors losing hundreds of thousands of dollars because they lost the private keys to their hardware wallet, vulnerable to hackers, frequent DDoS-attacks, unable to instantly get access to funds because of the technical activities performed within an exchange platform and countless challenge that gives rise to insecurity, inconveniences and endangering users assets.
Decentralized Exchanges, permit users to retain much of their confidentiality by retaining complete control of their private keys. DEX operates on blockchain technology and a smart contract that makes it extremely difficult to subject them to any form of government regulation that necessitates CEX to amass information on its users. Decentralized exchanges do not hold buyers, sellers or investors assets, which implies that they are not as defenseless to hacking, providing more security incomparable to CEX coequals. Owing to rate-restricted trading APIs, non-real-time transaction authorization, and deferred order book updates, traders are unable to trade in real-time. Blockchain technology has changed the ecosphere of investment endlessly which has led to ICOs proven to be secure and successful resources of financing companies and projects.
What is Xcrypt
As an alternative to these systems, centralized crypto exchanges were born. This system, which allows people to belong to all of their crypto funds, seems useful in the early days, but in the later periods, people are now getting bored with the amount of private key they have. Mew started to be questioned on centralized exchanges after crashing of sites and hacking of people via DNS. Users in these exchanges are given only one private key. It is not possible for users to reach their funds in any way if they lose these keys.
By recognizing the challenges and obstacles experienced in the crypto exchanges, Xcrypt created a stock exchange by combining the optimal features of decentralized and centripetal exchanges. With Xcrypt, which has its own special ecosystem, users can operate with the security of decentralized exchanges and the speed of centrist exchanges. It will be listed in alternative projects such as Erc20, Erc721, Sto in Xcrypt which will have a wide token network.
Why Should I Use Xcrypt
Unlike other exchanges, Xcrypt serves users at very low rates. With Xcrypt, users will be able to complete their transactions without any problems, as they will create a large customer assistant system to solve users' problems.
The platform has its own airdrop system. The platform, which will follow non-scoff airdrops, enables people to gain awards in support of projects by performing various tasks.
With social trading, people will be able to make money by following the transactions of others, especially those who are new to beginners, and with this system, skilled traders will be able to make money from other people's transactions. In addition to this, the person who is referring to the project by the reference is able to win a prize.
Users can use security systems such as mail, password private key at the same time. In this way, users will be able to access the platform with other security measures and reminder systems even if they forget their private keys.
Many cryptocurrencies have built KYC systems to improve security. Users who want to trade are waiting months after fulfilling the KYC procedure. This reduces customer satisfaction and leads people to apply to other exchanges. In addition, many crypto exchanges are faced with interventions by states due to their location. Crypto projects, which have to be bound by the laws of local governments, always feel the breath of the states on their necks. The Xcrypt exchange has accelerated the KYC procedure for people to perform more easily. Users' approvals are made in almost 1 day.
Xcrypt, which carries its servers to the island of Malta, which is more comfortable and friendly with cryptosystems, follows the major exchanges in this regard. Apart from these, with Xcrypt, which will have its own crypto card, users can easily evaluate their earnings without having to throw their bank accounts.
IEO on IDAX
As for now, the XCrypt token sale is still in its private stage, however, once the private sale ends on the 24th of May, the token will be publicly for sale in the XCrypt Initial Exchange Offering (IEO) on IDAX. During the first phase of the IEO on IDAX, investors will receive a 20% bonus on their token purchase. XCT tokens for sale in the IEO can be bought with Ethereum.
In total, there will be 200 million XCT tokens, of which 120 million (60%) are sold during the token sale. The XCT tokens are the lifeblood of the XCrypt ecosystem and have a myriad of utilities on the platform, including membership payments, participation in XCrypt-based ICOs, payment for debit card fees, payment for the fees of both the centralized and decentralized exchange and eligibility for the airdrop ranking system. The latter is a unique system that lets ICOs that partner with XCrypt airdrops their tokens to the exchange’s users to spread awareness and solicit investors from the community. Details can be found here. At present, XCrypt has already closed multiple listing agreements with projects to list their tokens on the exchange platform, and as a part of the deal, these project will participate in airdropping their tokens to the XCrypt community through the airdrop ranking system!
An IEO to look forward to
Initial Exchange Offering is a brand new concept and XCrypt is leveraging this opportunity to get the most out of its exciting token offering on the 24th of May. The strategically sound partnerships ensure that the XCrypt exchange platform is on top of its game in the different challenges it faces, such as compliance, security, and liquidity. The team has ensured that at every stage of the coming months, the platform is prepared and future-proof, with its XCT having already closed multiple post-token sale listing and over a dozen ICO projects preparing to launch on XCrypt. Add to that the 0% transaction fees on the platform, a variety of valuable utilities for the XCT token, a crypto-debit card, and Social Media Trading functionalities, and it becomes clear why this IEO is one to look forward to.
Roadmap
Team
Raiting
Partner
You can use this information for a detailed study of the project:
Website: http://www.xcrypt.club/
Whitepaper : https://www.xcrypt.club/xCrypt-Whitepaper.pdf
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1986718
Instagram: https://www.instagram.com/xcryptclub/
Twitter: https://twitter.com/xcryptclub
Facebook: https://www.facebook.com/xcryptclub/
Telegram: https://t.me/xcryptclub
YouTube: https://www.youtube.com/channel/UCSTVlIYw7fj9PrVu9FYKKVQ
Medium: https://medium.com/@xcryptclub
Reddit: https://www.reddit.com/r/xCrypt/
Author:
Username: werlot
Profile Link: https://bitcointalk.org/index.php?action=profile;u=2558487
Eth Address: 0x13511C5D009E0E7A67cE13E3c6d1d5ea074Ee3bB
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At first glance, the idea may not seem so global, but it has great potential.
excellent article
Great review, the project is promising and should interest investors.
I like the advantages of the Xcrypt project, let's see how they implement everything.
High-quality and thoughtful project. Thanks to the developers for this. I think that in the near future this project will succeed.
Thank you very much for your efforts. Your articles are very interesting to read. Great project and team. I will follow him!
Great project, really liked. Thanks to the author for the interesting content of the article
The project is interesting and promising in my opinion. I will continue to monitor its development.
brand new concept
I participate in this project and advise others.
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The revolutionary approach of the project, allows to increase the efficiency of work with the use of blockchain technology.
took part in bounty hive. can't say anything yet.
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