By
Godfrey Benjamin
April 17th, 2024
More than half a million traders have already pre-registered to join DX.Exchange platform that is said to start opening accounts later this month.
The NASDAQ powered centralized cryptocurrency exchange, DX Exchange, has announced that it managed to onboard 500,000 pre-registered users ahead of its official opening. It is a very important milestone for the platform that is said to be launched later this month.
DX.Exchange has attracted significant traders’ interest without any specific marketing efforts and it can be explained by several reasons. The main and maybe the most obvious factor that definitely deserves attention is the fact that DX.Exchange represents the free trading model.
Though the majority of cryptocurrency trading platforms take a percentage fee on every transaction, DX.Exchange will charge only a 10 EUR monthly fee per one account. After paying for their accounts, users will have an opportunity to trade up to 50,000 EUR for free during a month period. But those traders who exceed this limit will have to pay percentage fees on each transaction.
The exchange is based out in Estonia and has managed to obtain two licenses from the country’s Ministry of economic affairs and communications which represents another benefit that the exchange’s users will get: they can be confident that their rights are protected by the EU governmental body.
Moreover, a robust matching engine, fast execution as well as transparency and simplicity of all operations will become another advantages for users of the platform.
The CEO and Co-Founder of DX Exchange Daniel Skowronski believes that their exchange can be interesting not only for retail traders.
“Because we are fully regulated, a number of Banks and Brokers have reached out on how they can connect directly to the exchange to give their clients access. By connecting directly they can still offer a full suite of crypto currencies to their clients while decreasing their risk dramatically”, explained he.
The full launch of the exchange is planned to take place later this month. “We’re about to open the doors to DX.Exchange, and obviously this is a very exciting time for us,” added Skowronski. “Expectations are high, and we will not let down the 500,000 who believe in us, and the remaining members of the Crypto-community as well.
It can be considered really notable that DX Exchange has successfully attracted so many traders who have already pre-registered on its platform despite decreasing consumer interest to trading activity that as a result has led to a significant decline in cryptocurrency prices and in daily exchange trading volumes.
According to the data provided by CoinMarketCap, total cryptocurrency volume is now more than 50 percent smaller than in January. At the beginning of this year, the market processed over $40 billion worth of trades on a daily basis, while today this indicator is nearly $11 billion.
Nevertheless, not only DX Exchange can boast strong interest among new users nowadays. Binance has also reported significant growth of its user base.