“The world’s largest EOS based decentralized exchange, which is developed and operated by Newdex Inc., upholding the characteristics of safe, fast and transparent, devoting to create a new-generation platform for digital assets exchange, leading the industry into an ideal new era.”
Anyone having spent any time at all in the EOS space over the last year has surely heard of and likely to have used Newdex. As the first decentralized exchange dedicated entirely to EOS, or in other words, only tokens within the EOS ecosystem, Newdex carved it’s place early on in the ecosystem as a place to accumulate and trade EOS chain tokens. It has come a long way since its inception and despite a few hiccups, is likely one of the most used exchanges in the EOS sphere.
As a decentralized exchange, one of the advantages that Newdex provided users over other early centralized exchanges in the space was the ability to allow trading without the need to deposit or kyc with a centralized exchange. Add to that the ability to connect with Newdex via a plethora of mobile wallet options and it’s no wonder it garnered such an early and recurring user base.
Although usually I opt for the mobile connect option via MEET.ONE, EOS Lynx, or Token Pocket, there is also the possibility for mobile users to download a Newdex app as well as log into the browser site via Scatter at Newdex.io. The app is actually quite nice to use on the mobile and much like the Newdex.io site, simple yet sleek. Furthermore, unlike some of the other decentralized exchanges out there, the online exchange in particular is really intuitive and easy to navigate beyond the basic exchange and market functions.
Heading further into the site, a really nice feature under the ‘Entrusted Account’ tab at the top allows users to check the status of tokens locked into the assets and settlement accounts via block explorers (EOSpark, eosflare.io, EOSX, and Bloks.io) of the various supported chains (EOS, BOS, MEETONE, ENU, FIBOS, TELOS), as well as easily buy and sell REX and RAM or participate in Newdex special offers by navigating to the ‘Resource’ and ‘Events’ tabs respectively.
Newdex will also be releasing a desktop version of this in the near future to satisfy users that prefer not to download the app, rely on third party mobile wallet dApps, or connect via standard web browsers.
Other Benefits to Using Newdex:
In addition to the ease of connection through various means, the liquidity being one of the earliest and most favored EOS based exchanges, and the security associated with being a decentralized exchange and not having to reveal account private keys or transfer funds onto the exchange to trade, Newdex offers those that support the exchange through the NDX Platform Ecological Token (NDX) some other added benefits. Some of these benefits include but are not limited to the following:
- Using 50% of EOS and EUSD trading commission fees for NDX repurchase and destruction program
- VIP staking membership with varying levels of trading fee reduction depending upon amount of staked NDX
- Token Airdrops from various project partners depending upon VIP staking level
- Future plans for advertising and autonomous token listing use cases are also planned for development
Above and beyond this, Newdex seems continually to come out with announcements of new coin listings, trading and other competitions, and promotional reward bonuses for its members. I’ll leave that for you to discover as these are likely of more interest to the the entrenched user or active trader than is necessary to go into finer details in this introductory post. However, for those that may interested in learning more, I highly suggest that you periodically check the Newdex zendesk announcements page and subscribe to the official Newdex twitter channel.
As a final thought, if you are an EOS person I strongly suggest that you check out the Newdex exchange if you have not already. Personally it’s likely one of the best exchanges I have used both within and beyond the crypto space. They have some pretty large ambitions it seems and, if past success is any indication of future prosperity I would have to gander a guess that the project will continue to grow in scope of both technicals and user attraction, which lets face it, in this business is usually a recipe for some semblance of long term success. With that thought I will leave you until that time again then when we revisit the next installment in the ‘Top 10 Best Crypto dApps’ series, do enjoy all that life has to offer in crypto and beyond.
Your trybalist in creative arms, Jimmy D
*All images and information taken from official Newdex sites unless otherwise stated*
- Official Newdex homepage: newdex.io
- Newdex updates and news: https://newdex.zendesk.com/hc/en-us
- Newdex Twitter Channel
Personal Disclaimer: In no manner what-so-ever does this post represent financial advice. Nor has this post been paid for by any of the companies or parties associated with these products. This is merely a project that I find worth writing about and wished to share with the broader community as part of the Trybe.one Top 10 Crypto DApp Review Content Competition. I am not a financial advisor and although I appreciate the people who stop in and give my content a read, it is the readers responsibility to do their own research on projects before they decide to support or invest in them.
Jimmy D is a verified member of CryptoPilots, a community devoted to Quality Content in Crypto. Find me also on TRYBE.ONE, Minds.com, PublishOx, Twitter, Jimmy D Presents Facebook Group, and Murmur (kansaikrypto).