With the intensification of the use of cryptocurrencies in today's economic world, the benefits of new technology are becoming more open to people. It is now commonplace for all of us to see posters on billboards, TV shows, in-video commercials and many other places for the use and trading of cryptocurrencies. However, for some people who still have difficulty reaching the innovative philosophy of the crypto world, a number of applications are needed to fill this gap. Especially in some areas where it is not even legal to acquire cryptocurrencies, people will now be able to use Chatex to enjoy the benefits of the cryptocurrency world. The Chatex bot, which has been in service since 2017, is currently only available through the bot on Telegram. But there is intense effort being made to make new versions of this bot available in other popular messaging apps such as Viber, Facebook, KakaoTalk.
Chatex is a tool that can accelerate economic growth in developing countries. It allows people to securely store their savings in cryptocurrencies, as well as make instant money transfers within the network. Just imagine what opportunities people will get!
Chatex, which was launched in 2017 by a team led by CEO Michael Ross-Johnson, allows users to simultaneously message and transfer and trade cryptocurrencies. Chatex 's meaning ’'exchange chatting" that as this acronym suggests, it allows you to trade while texting anywhere anytime you want.
Chatex bot is a new tool for P2P trading among users, with an easy-to-understand and decidedly intuitive interface. The team that sets out to eliminate the injustices in the financial order and to deliver to everyone the innovations of the crypto world enables the trading of 156 different currencies via bot within 3 years. Including Turkish, German and English, a total of 10 different language support is available in the bot.
So how do you use this bot? Keep reading…
How to use Chatex ?
After you start the Chatex bot, you will see the following screens in order. At this stage you need to set yourself a profile name and a '‘PIN’' code. This name and ''PIN" code can never be changed in the future, so you should carefully select and save them. Then we choose our current localization and language, then continue to move forward. After completing all the steps, we can now step into the crypto world.
After registration, we will see a screen with 4 different options. These are placed as '‘Wallet’', ‘'Exchange’', ‘'Information’' and ‘'Profile'’ respectively. ‘Wallet’ to check how much cryptocurrency you have, make a new cryptocurrency investment, send cryptocurrencies directly to users and access your referral code; ‘Exchange’ to buy cryptocurrencies from existing cryptocurrencies or cash in your own cryptocurrencies; if you want to go to the video guide access, commission rates and other frequently asked questions section, you can click on the ’Info‘ section and the ’Profile' section to find out more about yourself.
Cryptocurrency trading using Chatex bot is based on the creation of ’Ads', advertising them and then understanding the values in this ad with different users. If you want to buy any cryptocurrencies, you can negotiate with one of the ads created earlier by other users or you can also create an ad yourself at the price you want. To do this, you must first click on ‘Exchange’ and then ‘My Ads’ and then click on the ‘Create’ button. After these steps, you should specify what you want to buy or sell, payment details, trade range and create your ad. The symbol # at the beginning of the ad must be included in your messages to announce the created ad in other Telegram groups. It is possible to change all the information and comments you enter after you create the ad.
If another user wishes to respond to your ad and complete the agreement, you will be notified by bot. At this stage you can either confirm or cancel the agreement. You can make your decision after questioning the previous trades of the person you are dealing with but this period should not exceed 5 minutes. Even if the agreement is made, the relevant cryptocurrency will not be deducted from your balance until you receive your payment. If you do not approve the agreement or do not respond for more than 5 minutes, the agreement will be cancelled and your ad will continue to appear on the screen.
For beginner users, 0.7% commission on ‘Crypto-Fiat’ exchanges on the Chatex bot and 0.15% commission on ‘Crypto-Crypto’ transactions is charged to be paid by the advertiser. In the future if your ’Crypto-Fiat' transaction volume increases above to 30,000$ and above, these commission rates will decrease down to 0.35%. In addition, Chatex has a 2-level reference system. You continue to earn while the users you refer to make transactions.
What are the advantages of using Chatex?
- Chatex allows users to trade ‘P2P’ without high limits. This amount, which comes across as a minimum of 5000$ or 1 BTC in classic exchanges, is designed so that there is no lower limit on Chatex. In other words, even on the basis of 'satoshi' it is possible to make trading.
Supports multiple cryptocurrencies and has a secure wallet for your funds thanks to the BitGo agreement.
- You can perform custom send/receive directly on behalf of the user without entering any wallet address.
- It will allow you to access Bitcoin and other cryptocurrencies without leaving the Telegram app, long registration and verification processes.
You can visit the FAQ/Frequently Asked Questions section, use YouTube videos or talk directly to the ‘'Support'' which is active 24/7, to learn more about Chatex usage and to find answers to questions you have in mind.
Just click here to perform your transactions on Chatex, which exceeds the 100,000 active users limit as of May, 2020.
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This article contains direct translation of that Medium article which I'm the real owner of it.