Place/Date: Istanbul, Turkey - October 27th, 2021 at 7:10 pm UTC · 7 min read
Source: Phemex TR
Phemex, a crypto exchange with over 2 million users has added a new customer-oriented service called “Phemex TR,” a new trading experience for the Turkish cryptocurrency market.
Phemex TR features a simple interface with upgraded technology, the most secure wallet ever, 4S technology that will increase your asset returns, and up to 10 times faster, no freezing. Essentially, Phemex TR blends security, speed, and simplicity to provide users with a better trading experience along with the opportunity to trade Turkish Lira.
The online launch event was on October 12th, and in the commencement livestream three people won the 1TB iPhone 13 Pro Max, and five others won Ethereum. Now Phemex has a post-event with a prize pool of up to 100,000 USDT. So go on and deposit your crypto to earn Free USDT with Phemex TR before the prize pool runs out.
Designing an interface is not an easy process. A successful interface should be simple and easy to use, while also being functional. This becomes even more important on a crypto trading platform because investor money is at stake.
Phemex TR was created by an experienced technology team made up of former Alibaba.com, TikTok, and Morgan Stanley employees. Thanks to Phemex TR’s simple, yet advanced technological engine, you can operate it anytime and anywhere. Convenience starts from the first moment you arrive on Phemex TR. It only takes 20 seconds to become a Phemex TR member. Therefore, you no longer have to worry about the delays and headaches caused from difficult registration and deposit processes.
Behind Phemex TR’s advanced platform are four key elements: security, robustness, simplicity and speed. The system features up to 10 times redundancy to ensure continuous availability, and it can handle 10 times the average throughput.
As the number of crypto investors increases, transaction volumes also grow. But when the market swings hard in either direction, platform crashes will give investors problems. That’s why Phemex TR has its own recovery system that provides an uptime rate of 99.99%.
In addition, the platform keeps your assets completely secure with its cutting-edge private key technology. All assets deposited in Phemex TR are moved to cold wallets that require multiple signatures. Since wallet keys are not stored online, hacking attacks are rendered ineffective.
This is just a small summary. What can be done on Phemex TR is not limited to these descriptions! Сome to Phemex TR and experience all aspects of a professional and reliable cryptocurrency exchange.
Cryptocurrency exchange Phemex TR prioritizes ease of use and advanced technological infrastructure while maintaining diligent security. The 4S (secure, solid, simple, speed) approach constitutes the main infrastructure of the platform, which was established by former employees of banking giant Morgan Stanley.
As the cryptocurrency market progresses day by day, it also requires better security measures. At this point, daily transaction volumes exceed hundreds of billions of dollars. This year alone, there have been dozens of hacking events that resulted in a total of $3 billion in losses.
Phemex TR, one of the few exchanges that has not been hacked in its history, ensures that user assets and information are safe through system security, financial security and account security.
At Phemex TR, a professional team overlooks all security-related procedures. While configuring all system entries, regular scans are performed to prevent possible information leaks and vulnerabilities. Using Amazon Web Services (AWS) Cloud to deploy its system, the platform uses various firewalls to separate different regions and machines across different trading purposes. Phemex TR also imposes system-level restrictions.
Phemex TR has a cold wallet system that provides each user with an independent investment address. All transferred funds are collected in the company’s multi-signature cold wallets via offline signature.
Also, Phemex TR uses a bank-level double-entry accounting system to ensure account security. When a user makes a transaction, two or more accounts are matched. This prevents the records from being tampered with. When an inconsistency is detected, it means the account has been compromised, and the system immediately freezes the corresponding account.
Phemex TR features 10x redundancy and can handle 10 times the average transaction volume. In most cases, users cannot even tell if there is an update or maintenance on the exchange because it has an uptime rate of 99.99%. Such a seamless and fast recovery system is a critical requirement for exchanges operating 24×7.
Ease of use is another crucial element that defines Phemex TR. You only need 20 seconds to register. Authentication processes can be completed in just five minutes. With Phemex TR, there is no need for long delays and worries.
Speed is the fourth but equally important pillar. Phemex TR’s engineers minimized dependency on third-party libraries to keep the kernel simple and fast. The platform promises to be at least ten times faster than its competitors.
Cryptocurrency wallets keep your assets safe while making it easy to send and receive funds. Cryptocurrency wallets have keys that are necessary for access and usage. There are two types of keys: private and public keys. Private keys are critical because if someone gets access to them, you could lose all your crypto assets. Securing private keys increases liability. Holding assets on exchanges may be an option for those who do not want to take on this responsibility. At this point, an exchange’s wallet infrastructure becomes paramount.
Founded by former employees of banking giant Morgan Stanley, Phemex TR implements a cold wallet system that provides each user with an independent address. All transferred assets are collected in the company’s multi-signature cold wallets via offline signature. Multi-signature wallet systems usually require three keys to confirm transactions. Each key is available to different people, and all three keys are needed to unlock the wallet. Phemex TR keeps your funds safe with its state-of-the-art private key system. In Phemex TR, your private keys are sent to three different channels, and administrators cannot see them. These keys are called through secret channels every time you access your wallet and are also used to unlock it.
On the other hand, the platform processes withdrawal requests daily. Both operators and founders manually scrutinize each request. Based on the advanced risk control system it acquired from the founders’ Wall Street experience, Phemex TR can detect all suspicious transactions to protect users and the platform’s assets. Approved withdrawal requests are processed with offline signature, so all assets are stored in the cold wallet system.
Phemex TR offers the easiest way to buy and sell cryptocurrencies anywhere with RFQ (Request for Quote). RFQ is a common application in daily life and business life. This concept, which is the Turkish equivalent of “Request for Proposal”, can be thought of as price comparison shopping or pricing according to demand.
For example, an RFQ application occurs when a user requests a quote for the cryptocurrency he/she intends to buy or sell and executes the transaction with the best offer. Recently, blockchain technology has been used intensively to automate the RFQ process and reach more users.
Offered by Phemex TR, this tool allows traders to get a quote at a fixed and agreed-upon price before buying. Users can now execute large orders without significant price changes.
Initially, on Phemex TR, buy-sell transactions will be made via RFQ. The platform promises to keep prices up to date based on market rates.
Phemex TR has a lot to discover! Сome visit the platform and experience all aspects of a professional and reliable cryptocurrency exchange.