The Rise of Cryptocurrency Exchanges – john kenny

Whether decentralized or centralized, leveraged or standard trading; there’s a plethora of cryptocurrency exchanges to choose from. Coin Market Cap lists over 260 exchanges. Most offering similar features and benefits. So, unless you use an exchange purely because they trade in your currency of choice, why would you choose one over the other?

I recently discovered a new exchange which will bring some interesting and revolutionary functionality in addition to the standard features offered by existing exchanges.

XERA Exchange has just opened their pre-go live registration and I have to say, after looking under the hood, I am suitably impressed. They address a number of pain points which will surely benefit all crypto-traders.

Whilst they will commence business as a CEX, they aim to become solely a DEX by 2020. This has to be the way forward for any exchange that wishes to be taken seriously. The vast majority of exchanges have no plans to move away from their centralized operating environment which casts doubt over their long term integrity.

Two Tier Platform

• XERA will be creating 2 separate interfaces. One for advanced traders and the other for novice traders. Most current exchanges tend to be intimidating with their overly complicated interfaces which are aimed purely at more experienced traders. XERA’s user-friendly simplified interface for fledgling traders will no doubt go a long way to encourage new investors.

FIAT Gateway

• Until now, the main way into cryptocurrency has been to purchase currencies through the likes of Coinbase, paying extortionate rates before moving the currency to an exchange or other wallet. This incurs additional fees. XERA will have their own FIAT gateway enabling currencies to be purchased or sold with FIAT within the platform, removing the need to pay fees.

Advanced Price Alerting System

• Very few exchanges have the ability to alert traders of price action. This leads to many missed opportunities. XERA’s advanced SMS and email alerting solution works with ALL major indicators. This ensures that traders are kept in touch of ALL market movements.

Lightning Speed

• XERA boasts it will be one of the fastest exchanges on the market reducing the number of missed opportunities and unforced errors when trading. XERA has achieved a staggering speed of 2.5 MTPS (Million Transactions Per Second).

Native Token and Buyback

• As with a few other exchanges, XERA has it’s own token. The XERA token provides traders with a discount fee rate. Unlike many other exchanges, XERA have a buyback policy which will incentivize token holders with 20% of the total quarterly profits.

Multiple Order Types

• XERA caters for all order types including: Market Orders, Limit Orders, Stop Limit Orders, Stop Orders, Trailing Stops, OCO (one cancels the other), Hidden Orders, Fork or Kill (FOK) Orders, Scaled Orders

All in all, XERA seems to be a comprehensive exchange with a solid vision. The fact it caters for all traders from novice to advanced, is a major advantage and will help bring new interest to the crypto market. Their extensive feature set and competitive fees are certainly an attraction to me as a trader.