Do you regularly trade on foreign exchanges? Do you have any idea about the existence of centralized and decentralized exchanges? Well, if not, then this is the right place to know about the same. We will provide you with an in-depth understanding of the latest technological developments to facilitate convenient trade in forex. Centralized Exchanges allow only transactions through some specified cryptocurrencies. Moreover, most of them are controlled by the Government. Hence, the traders may have to face a lot of hassles while dealing in a large number of transactions. To make your trading a more manageable process, Cosmos Network is going to introduce a fantastic platform for an effortless trading opportunity. This is called Co-Dex. In this content, you will learn about the spectacular benefits of Co-Dex and how it can be profitable for you.
Co-Dex: The First DeFi Platform
People are not yet accustomed with the decentralized crypto exchange platform or DeFi. In fact, most of them have never heard the term. If you are also a part of this group, then go through this article thoroughly. You will get all the answers.
No government regulates a decentralized crypto exchange. It is a crypto-neutral platform where you can use any kinds of cryptocurrencies without any limitations. Moreover, you can also have the benefit of tokens belonging to different blockchains. Cosmos Blockchain, in collaboration with the IBC innovation, has discovered this terrific method of conducting forex trade. Co-Dex will be the first-ever decentralized platform for foreign exchange with a “No Fee” feature. Apart from there are many more attractive things that will surely compel any user to opt for it. The company will launch the product just at the turn of this year. So, be prepared to witness a magical boom in the world of online trading with cryptos.
The Vision of the Company
Co-Dex is the name of that potential project which is capable of changing the whole thought-process regarding online trading. The blockchain community is the developer of this platform with the main focus on the well-being of the community. The Co-Dex Foundation developers aim to fulfil all the requirements of the community. The community used to go through a lot of challenges before. Therefore, the mitigation of all the issues was necessary to protect its interests. The company is of the view that Co-Dex will be able to perform as per the expectations and will seriously bring a revolution. So, you can expect the next year to be full of excitement as you earn more from the forex business dealings. After the launch of this fantastic exchange, assets and funds will move freely without any hindrance all over the world.
The main features of Co-Dex are as follows;-
- Authentic platform
This is the ultimate future of the traders that will benefit them in every step while conducting the forex trade. It is obviously going to be a user-friendly platform to facilitate multi-trading concepts. So, now you can involve whatever currencies you want without the tension of paying high amounts of taxes. No government is going to ban any currency just like that.
Usage of Tokens
The DeFi platform will be built over the Cosmos Network, and the dealers can make use of the COD2 tokens. The Co-Dex 2 is the native asset of this exchange. The company always wants to make the exchange the best communicative medium for a user interface that focuses on intuitive approaches for excellent performance. The high standard of the medium will allow an improved trading performance for all the users. The usage of tokens also gives assurance about the safety and security of your money. The decentralized approach will let you get involved in cross-chain transactions as well. Moreover, it will keep pace with the latest technologies and innovations. A strong community will ultimately lead to professional trading without any additional charges. You just have to pay only the transaction charges for continuing trading. The Advisory Board is already there to look after the administrative part of the exchange. Thus, all these initiatives will help in the successful development of the platform. So expect a grand launch at the end of the year for a remarkable turn of events.