The CoVEX platfrom will initially consist of the following components :
- The CoVEX exchange
- Social Trading
- Margin trading / Lending
- Future undertakings
1 The CoVEX exchange
The CoVEX exchange will create opportunities for coin holders to buy, sell and exhange their favourite cryptocurrencies at current and determined prices. The CoVEX exchange will support the most commonly traded cryptocurrencies such as Bitcoin and Ethereum and allow users to place orders, trade and swap currency which has been deposited in their CoVEX balances.
The majority of cryptocurrency exchanges were developed by enthusiasts with only a small fraction of them having required technological maturity to keep crypto assets safe. There are some of the potential challenges that can be encountered while dealing with cryptocurrency exchange :
Frequent downtimes : Downtime has an effect of causing significant financial loss to crypto users who are unable to place or even modify their trades, especially during high market volatilities.
Security : the majority of crypto-exchanges are mired in security breaches and theft funds. For instance, MtGox and other exchanges have benn compromised resulting in loss of personal data and funds
-Poor user interface: New users to cryptocurrency usually face the most significant hurdles the moment they sing up to a crypto-exchange because of the poor interface. Most of the people dont even finish registration or gave up on the platform because they cant understand how to use it. Thats why while being good solution, decentralized exchanges don't have as much success as they thought they would have.
At CoVEX they belive that one-stop platform for crypto-exchange is one that is user-friendly with reduced downtimes. To enchance transparency, the Exchange House has a variety of relations between traders where they will be able to exchange their cryptos directly.
During the transaction, the Exchange House will display following details :
- The type of cryptocurrency
- The daily transaction volume of selected crypto
- Open Chatting Service and Personal Portfolio Analysis
The next article would be about social and margin trading at CoVEX platform.
You can see how the alpha version of the CoVEX trading platform looks like :
You can also watch CoVEX interview with Labu Ghimire :
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For more information regarding CoVEX Coin please visit our website at: https://www.covexlabs.com/
Also, if you have any questions regarding CoVEX Coin or would like some extra information check out our social media:
Telegram: https://t.me/joinchat/FGqocRL7Oj3p-YYV3mu2Ng
Twitter: https://twitter.com/CoVEXcoin
Facebook: https://www.facebook.com/covexcoin/
Bitcointalk Forum: https://bitcointalk.org/index.php?topic=3343211.new
Discord: https://discordapp.com/invite/sVufdss
Official Bounty Telegram: https://t.me/CoVEXBountyPrograms
E-mail: [email protected]