INTRODUCTION
Cryptocurrency is an encrypted decentralized digital currency transferred from one electronic technology wallet to another which has been digitally signed for security purposes. This process is confirmed in a public ledger called the Blockchain through mining where everyone on the network is aware about the transaction and the history of each transaction can be traced back to the point where the coins or altcoins are produced.
Your first step into the crypto world will most likely occur through an exchange. There are two main types of exchanges presently existing now which are;
Fiat exchange: This is the first type of exchange which most people know very well, it's an exchange that allows the direct transfer of US Dollars, Euros, and most government-backed currencies to be traded for cryptocurrency.
The second type of exchange is refer to as cryptocurrency to cryptocurrency exchanges. This is because it allow cryptocurrencies to be traded with each other alone. The most common pairings on these exchanges are Bitcoin, Ethereum, Litecoin and all other coins including altcoins as well. I will highlight some of the issues faced in most of the cryptocurrency exchange platforms which is more scary and pissed a lot of people off due to inability to cope with it. They are phishing and spoofing payment information, error in user address, loss of a Wallet File, insecure ICOs, hacking of payment pateway, a lot of fraud on the Trading Exchange and high charges in sending and withdrawing of coins.
Some people believes that cryptocurrency is the future and can be the potential medium of exchange, this set of people started to important cryptocurrencies in their wallets and are just looking for the right gateway to treat them as the mode of exchange. Another set of people also thinks that blockchain opens up a cornucopia of opportunities for the investment and aspires to get quick returns in the form of fiat currencies.
I'll be buttressing on the second set of people that I'd mentioned above, this second group of people are facing some kind of challenges or problems when its come to the issue of cryptocurrency exchange platforms. The trading of cryptocurrencies is same as trading shares, commodities, and fiat currencies, i.e the modus operandi is based on generating sell order or purchase order and orders are matched and trade is accomplished accordingly. However, there are certain flaws with the crypto exchanges most especially, the decentralized exchanges.
As we all know that the birth of cryptocurrencies is credited to the manipulative nature of central bodies like banks and so on. Cryptocurrency is run on a blockchain network and it help its network to connects everyone together. Each node of the network has a complete ledger of all the transactions. Hence, there is no central body which accounts for maintaining the ledger or database. They are maintained by the people who are involved in the transactions but, its the purpose of decentralization served when a trader can exchange his cryptocurrency through the central exchanges like Coinbase and Binance to mention a few. These mentioned exchanges are privately owned third-party exchanges and no one knows how long will they exist, they might look authentic today but default tomorrow.
For every exchange investors or traders, they have to store their cryptocurrencies on the central server of these wallets. These wallets are controlled by HUMANS which are vulnerable to hacking, cyber threats and authority snatching etc.
Now, there is an option where you could avoid exchanging or trading of these currencies on the third-party portals. And that is decentralized exchange on the blockchain network itself. Yes, you can transfer your BTC or ether through the decentralized channel of the blockchain itself, but it has its own execution problem.
Risk associated with Decentralized Exchange
If you are trading bitcoins or ethereum directly on the decentralized trading exchange, you have got to understand that you are not going to get the same manner of trade in terms of speed, quality, and in terms of knowing your position in the trade. You can compare it with the forex exchange where you can go to the counter dealer and complete the trade. In the case of crypto, it can take a long time to fill, it may take a high cost to complete the trade. Surely, it is not as busy and active as the level of forex exchange but it is yet to reach the point where you feel that all the transactions and trades are homogenous or at least look like that.
There are some factors all crypto trader or cryptocurrency enthusiast needs to take into consideration when determine the exchange you want to trade your hard earned coin so as to avoid remorse and they are;
1.How safe is the website and server? Secure exchanges are better.
How is the liquidity? The higher the exchange’s volume the better.
What are the exchanges fees? The lower the better.
How is the exchanges customer support?
What trading pairs are available?
How many different payment options does it have?
Is the exchange beginner friendly ?
The team that invented such exchange if they are incredible enough ?
I'm happy to announce to you my reader the one and lonely cryptocurrency exchange that has the interest and after the success and breakthrough of all crypto trader, its named NEBULA EXCHANGE. This is the only crypto exchange I'm sure of, invented by distinguished and incredible team that has clear vision and mission for all crypto traders. This set of team behind this amazing exchange platform I'm talking about has what it takes and enough experience in the cryptocurrency world and they knew all the atrocities committed by the insecure exchanges outside.
NEBULA EXCHANGE PLATFORM
Nebula Exchange is a centralized crypto trading platform that combines the state of the art trading platform with news, technical analysis, users review and peer to peer messaging to provide a one stop community centered trading solution. Nebula Exchange team believed that focusing on information and community building combined with support for security tokens, its exchange platform will be far different from the traditional mode of exchange.
Nebula Exchange trading platform has the capacity for high frequency seasoned traders and simple to trade on for the purpose of the newbies as well. Some of the features are;
Ability to register up to 1000000 transactions within a second
Professional charts licensed from trading view
Limit market and stop loss orders
Exportable trade and order history
Multi sigwallet with 24/7 monitoring
Up to 10x leverage with margin trading.
NEBULA EXCHANGE TOKEN (NESC) ANALYSIS
On nebula Exchange platform, safety of your hard earned money (coin) is guaranteed because it has all what it takes when it comes to the issue of security so there is no need to panic when trading on it. Check out the exchange platform roadmap that's well explained through the diagram below
CONCLUSION
In conclusion, for crypto enthusiast and traders to achieve success and financial breakthrough in crypto world without any stress, Nebula Exchange is the only exchange platform that I can guarantee. To know more about this amazing crypto trading platform, the links provided below will really put you through.
Website: https://nebula.exchange
Whitepaper: https://nebula.exchange/wp-content/uploads/2018/04/Nebula-Exchange-Whitepaper.pdf
Ann thread: https://bitcointalk.org/index.php?topic=4583209
Twitter: https://twitter.com/Nebula_Exchange
Facebook: https://www.facebook.com/Nebula.exchange
Telegram: http://t.me/nebulaexchange
Ico page: https://nebula.exchange/ico
Writer bitcointalk username: lumibaba
Writer bitcointalk address: https://bitcointalk.org/index.php?action=profile;u=2151502
Eth wallet address: 0x83b1556667E1A776Db4Eb9e9373c5Ea1F3308a24