As it has been revealed, DCEX, a San Francisco-based marketplace, is opening registration for its new crypto exchange. This platform will be the first world’s crypto exchange that will exclusively use XRP as its base currency. Nevertheless, clients will not have an opportunity to start trading for a few more weeks.
One of the main fears for many crypto enthusiasts is that the influence of Bitcoin on the market is getting too strong and the market dependence on this coin is only growing due to the fact that the major part of altcoins today is linked to BTC. And obviously, such a tendency is not very healthy for the market development. That’s why a new exchange is to open a new perspective for the market.
DCEX will offer opportunities for trading XRP against fiat (USD) and 15 cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), etc., and stable-coin TrueUSD (TUSD). It is also said that the operator plans to add Neo (NEO), Cardano (ADA) forming more trading pairs in the upcoming months.
Being powered by he cutting-edge crypto tech firm AlphaPoint, the DCEX platform boasts rapid execution times as one of the most attractive features. The exchange was designed in a way to allow fast transaction volumes with the the network capable to conduct more than one million transactions per second.
It is promised that it will take less than four seconds on average to carry out XRP transactions which will make DCEX one of the fastest new crypto exchanges in the world.
The new exchange is believed to be perfect for crypto traders not only owing to the transaction speed but also lower fees. Speaking about trading fees, it is necessary to highlight that as for so-called “maker” fees, they will be 0% while “taker” fees will be 0.2%. XRP withdrawals will be free of charge as well as crypto deposits. For withdrawals of other cryptocurrencies than XRP, the exchange will introduce standard network fees.
Taking into consideration the level of competition in the crypto community, if new projects want to survive it is necessary to find something unique to offer, and DCEX has already chosen its way to stand out from the crowd.
Meanwhile, if turn to XRP cryptocurrency, it is not the first case when companies are paying special attention to the token in the context of increasing demand for this coin. In June, a London-based Digital Payments Platform and Digital Payments Platform Wirex has taken a decision to add a Ripple wallet to its platform. They justified the decision noting that given XRP’s specific utility underscoring it, the crypto provides Wirex users with a stable and innovative altcoin. Wide adoption by reputable financial institutions additionally showcases the protocol’s proven versatility and reliability, which surely contributed to the decision made.