963
views

7 Reasons Why You Should Trade on the Block DX Decentralized Exchange

Cryptocurrency exchanges offer a seamless way to exchange digital currencies for other crypto assets or conventional fiat money. The advancement in cryptocurrency exchanges has been instrumental in spurring mainstream crypto adoption. 

Crypto exchanges are grouped into two broad categories: centralized exchanges (CEXs) and decentralized exchanges (DEXs). Centralized exchanges, also referred to as custodial, are controlled by a central authority in charge of users’ digital assets. They feature a highly regulated trading environment and also involve third parties.

Decentralized Exchanges

Decentralized exchanges (DEXS) or non-custodial exchanges facilitate peer to peer trading without a third party’s involvement. Users are given full control over their assets, which are stored in wallets. Compared to custodial exchanges, decentralized exchanges are superior in terms of privacy, security, and interoperability capabilities achieved via atomic swaps.

As DEX platforms continue to flood the crypto space, few exchanges stand out. Among them is Block DX – the world’s most decentralized exchange. The exchange boasts several features that offer a sort of centralized exchange experience but on a decentralized platform. Users can exchange directly from their respective wallets with no third parties involved. Block DX should be your top priority if you’re looking for the best DEX to kickstart your crypto trading journey. Here are seven reasons why you should trade on Block DX.

Block DX Unraveled

The Blocknet Decentralized Exchange (Block DX) is currently the fastest, most secure, reliable, and fully decentralized exchange in the crypto space. The platform is built on Blocknet Protocol – a blockchain interoperability protocol. This protocol facilitates communication, interaction, and exchange between public and private blockchains and integration to external off-chain APIs and services via oracles.

The Blocknet Protocol facilitates cross-chain trading via the use of atomic swaps, creating a decentralized P2P exchange. P2P, in turn, eliminates intermediaries who offer trust.

Block DX has listed over 100 digital assets, with the number set to grow further. Users enjoy complete trading pair freedom, i.e., any two listed assets can be exchanged. Trading pairs combinations total to over 7000 tradable pairs.

Benefits of Trading on Block DX

Trading on Block DX comes with several benefits. For a start, users are in complete control of their funds at all times. They can trade directly from their wallets with no limitations of trading pairs or withdrawals. Also, the platform requires no KYC procedures, which can sometimes expose traders to security breaches. The trading fees generated on the platform are distributed to the BLOCK holders, who are critical for the exchange’s functioning.

Block DX Cross-Chain Trading

Block DX leverages Blocknet protocol, an inter-blockchain infrastructure that facilitates communication, interaction, and exchange between different blockchains. Specifically, the platform’s XRouter, a cross-chain interoperability protocol, allows users to exchange tokens built on another blockchain network. This means that you can directly exchange Bitcoin and Ethereum on the platform without downloading different blockchain wallets.

Secure Trading

Block DX guarantees you the security of your fund’s thanks to its safe trading features. The platform is 100% trustless with no middlemen or intermediaries. Users are given complete control of their coins as they trade peer-to-peer directly from their wallets. Additionally, all trades are conducted via atomic swaps with no intermediary tokens, proxy coins, IOU, or colored coins in the middle. Funds are always in your control, assuring you of the safety of the platform.

Truly Decentralized Governance

Block DX features truly decentralized governance with no central entity or exceptional individuals controlling the platform. The community is in charge of the project and votes to decide on the direction of the project. The order books and order matching is also completely decentralized. Orders are filled fairly and transparently with no website, individual, or entity hosting the order books.

No Accounts Required

Block DX doesn’t require users to create accounts as it’s decentralized. No signups, no documentation to submit, or KYC /AML requirements.

Block DX Trading Pair Freedom

Block DX offers users complete trading pair freedom. This means that any digital asset listed on the platform can be exchanged with any other. Trading pair freedom comes in handy to offer to facilitate seamless and efficient trading. Whatever crypto pair you want, you can trade.

Low Trading Fees/ No Withdrawal Fees/No Listing Fees/No Trading Limits

Compared to centralized exchanges or other decentralized exchanges, Block DX charges low trading fees. Better yet, all the charged trading fees are distributed to Service Nodes for supporting the network. Here’s Block DX’s fee structure.

Also, withdrawal fees are not applicable since trade occurs directly from the wallets. Your funds always remain under your custody; thus, there is no need for withdrawal fees. The platform also does limit withdrawal or trade amounts, creating a great deal of trading flexibility.

Block DX does not charge listing fees for assets to be added to the platform. Nonetheless, the listing process is rigorous and stringent to ensure that only legit and 100% compatible tokens are added to the platform.

Easy Integration with Zero Downtime

Block DX features a largely compatible API that allows developers to easily create a trading bot and link it to the platform. The platform is also powered by the Blocknet Protocol, which has in-built DoS protection and doesn’t suffer from downtimes, costly.

Closing Words

Bitcoin live price
Btc
Bitcoin
$23.803
price
0.41382%
price change
BUY NOW

In this age of digital assets, crypto exchanges offer a direct and secure way of exchanging cryptos. Block DX stands out among the numerous decentralized exchanges that exist. Its features enable users to trade cryptos directly from their respective wallets rather than using a third party. Atomic swaps, full decentralization, no registration, no withdrawal fees, and 100% trustless are some of the features that make the Block DX an ideal DEX for any avid crypto trader.

Stay up to date with our latest articles

More posts

DeNations – A Global Play-to-Earn Crypto Experience

DeNations is a popular platform for gamers who want to get involved in the crypto market. Users can expand their nations, build civilizations, and earn rewards. The gaming industry is growing rapidly, and DeNations provides an excellent opportunity for gamers to get involved.  This review will analyze the main features of DeNations that appeal to crypto investors and gamers. What is DeNations? For those who like to earn prizes while having fun, DeNations can be an appealing platform. Each nation…

ProBit Global – A Platform Allowing Traders to Exchange Bitcoin and Altcoins

Cryptocurrencies such as Bitcoin have been around for a few years now. However, a relatively new type of cryptocurrency is quickly gaining popularity: altcoins.  Altcoins are cryptocurrencies that differ from Bitcoin in various ways, including the mining process, distribution, and transaction fees. ProBit Global is a cryptocurrency exchange that offers users a safe and easy way to buy and sell altcoins. With ProBit Global, users can trade altcoins without having to worry about the complicated process of mining or transaction…

WazirX – A Crypto Exchange Investing in Security Developing in the Indian Market

The crypto industry is growing rapidly in India, with new companies like WazirX entering the market. WazirX is a P2P exchange that allows users to buy and sell cryptocurrencies without going through a third party.  This review will analyze how WazirX is currently leading the way in the Indian crypto market growth. What Is WazirX? WazirX is a crypto exchange allowing users to trade cryptocurrencies. It also allows users to store their cryptocurrencies in the WazirX wallet. WazirX’s concept came…

Changelly – A Crypto Exchange for Beginners and Experienced Traders

Cryptocurrency exchanges are the platforms where you can buy, sell or trade cryptocurrencies.  There are many different exchanges, but Changelly is one of the best options for beginners and experienced traders. Changelly offers a quick and easy way to exchange cryptocurrencies and has a wide selection of coins available.  Changelly also has a very user-friendly interface, making it an excellent option for those new to cryptocurrency trading. So if you're looking for a crypto exchange platform, check out our review…

OKCoin – An Exchange for Global Cryptocurrency Trading

Cryptocurrency exchanges are digital platforms where users can buy, sell, and trade cryptocurrencies. The first crypto exchanges appeared more than ten years ago, and OKCoin was among them.  Crypto exchanges let users enter the crypto market and provide a way for investors to get involved in the sector. OKCoin is a famous player in this market, and it offers a variety of features. These functionalities make it a well-known choice for both new and experienced investors. What is OKCoin, and…

Korbit – A Popular Crypto Exchange in the Large South Korean Market

In South Korea, the crypto market is growing rapidly, and one of the leading exchanges is Korbit. Korbit has been operating since 2013 and offers a wide range of coins to trade.  The company has its headquarters in Seoul and has millions of users. Today’s review will look more closely into this popular South Korean platform for all our readers. What Is Korbit? Korbit is a website where you can trade different types of cryptocurrency. You can buy and sell…

Discovering the 0x Protocol Exchange – A Guide for Beginners in Crypto

Through its worldwide DeFi system, blockchain technology provides many people with the possibility to achieve financial freedom. Many assets can have their tokenized versions online, thanks to DeFi protocols. For the 0x protocol, building a tokenized world and unlocking its value are top priorities. Our guide will illustrate how 0x works by looking into its key components. About 0x In order to facilitate decentralized token trading on the Ethereum Blockchain, 0x entered the market as an open-source protocol. Seamlessly and…

Beginner’s Guide to Trade Cryptocurrencies Derivatives on dYdX Crypto Exchange

With the rise of decentralized finance, the cryptocurrency market has seen an influx of interest from investors. Traders hope to profit from interest on their holdings or long- or short-term asset movements.  Traders only need to connect their wallets to dYdX to start using this platform. This mechanism wishes to reduce the overall complexity of the system.  Do you wish to learn more about dYdX? Our team reviewed this platform to provide you with a guide on this popular crypto…

Trading Crypto with the LBank Cryptocurrency Exchange

One of the most exciting aspects of the cryptocurrency sector is the number of exchanges that have sprung up.  Crypto enthusiasts from all over the world have taken notice of the interest in LBank Exchange (or simply "LBank"). This platform is one of the market's most famous cryptocurrency trading systems. Let us learn more about this platform in today’s guide, where we will look at LBank’s main features. About LBank Founded in 2015, LBank is a Hong Kong-based cryptocurrency exchange.…

Gate.io Cryptocurrency Exchange – A Guide for Every Crypto Beginner

Gate.io wishes to become a one-stop-shop for all crypto enthusiasts. The system lets you choose among different features and hundreds of different coins in its catalog. The platform allows spot and margin trading with more than 1,000 trading pairs. Today’s guide will provide more information on Gate.io through a complete review of this platform. About Gate.io Inexperienced traders can use Gate.io to acquire less famous cryptocurrencies. Some nations allow margin trading on some of the 1,300 cryptos offered on the…