The revolutionary DX exchange has been unveiled on Monday 7th January 2019 at 14: 30 UTC. This new Crypto exchange has offices in Estonia and Israel and, therefore, falls under the oversight of authorities in the European Union and Israel.
This Crypto exchange is proffering immense opportunities to the Cryptocurrency industry as for the first time, traders are able to trade Cryptocurrencies and Tokenized Nasdaq stocks on one platform. Hence, an investor can purchase a Digital Asset pair while having the opportunity to also buy Nasdaq stocks in listed companies such as Tesla, Facebook, Apple, Microsoft, etc. Thus, DX exchange merges the traditional stock markets and the emerging Crypto markets into one futuristic asset market.
DX Exchange Is Live
DX exchange officially welcomed all traders to register and trade on the platform on 7th January 2019 via their official Twitter account DX.exchange @DXdotExchange.
Further, in a separate tweet, the DX exchange CEO, Daniel Skowronski, is reaching out to all Crypto enthusiasts in the EU to join the platform. He is, however, urging patience from investors from the USA as they have to wait for their turn on an undisclosed future date in 2019. Further, the CEO attached a document from the official DX website detailing how the exchange is the first Crypto marketplace to allow individual and institutional investors to trade Cryptos and Digital Stocks in fiat money.
Multi-Stock and Multi-Currency Support
The concept of multi-currency support in Crypto exchanges is increasingly becoming a common phenomenon. Hence, it’s not unique for DX exchange to offer the service. This platform is ideal as it is offering 10 digital Nasdaq stocks. Interestingly, the Digitized Tokens are designed on Ethereum Blockchain ERC 20 standard that is also interoperable in a wide variety of DLT networks especially those that are built on Ethereum ledger tools.
The ten Cryptos include; Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), OmiseGo (OMG), Enigma (ENG), DX Coin (DXCASH), and DigiByte (DGB). Additionally, XRP trading pairs include; XRP/JPY, XRP/EUR, XRP/USD, XRP/ETH, and XRP/BTC.
On the other hand, the 10 Nasdaq stocks include; Google (GOOGL), Tesla (TSLA), Microsoft (MSFT), Netflix (NFLX), NVIDIA (NVDA), Apple (AAPL), Apple (AAPL), Baidu (BIDU), Amazon (AMZN), Intel (INTC), and Intel (INTC). These digital stocks can be bought with USD or XRP.
Stability Is Guaranteed
Tokens on the DX list are backed 1:1 with stocks being offered. These secured assets are then traded through MPS MarketPlace Securities Ltd that is based in Cyprus. This enables users to buy stocks that are subdivided into customized amounts.
The exchange is further disclosing that the stocks are secured in a segregated account which is safe and independent from the third party.
Another strategy of DX exchange in enhancing stability is the use of tools to facilitate optimal and professional trading practices. This is achieved by availing asset information such as the timeline of relevant events, size of circulating supply, 24-hour volume, market cap, or news sentiment. Asset indicators gauge the suitability of selling, purchasing, or holding onto an asset.