Trading BTC - XTZ? Consider tzBTC - XTZ: you pay 12 times less fees!

Trading BTC - XTZ? Consider tzBTC - XTZ: you pay 12 times less fees!

By Allen Walters | Publish0x posts | 19 Aug 2020


DEXes aran't just trust-less, they can also offer solutions that are a LOT cheaper for traders. If you often make trades between BTC and XTZ to profit from the volatility between both coins, it pays to us a Tezos-based DEX. Atomex is currently the only option for DEX services on the Tezos blockchain. Soon two other DEXes will be live on Tezos: DEXter and QuipuSwap.

Atomex
Atomex is created by the Baking Bad team, which are best known for www.baking-bad.org. (A website with statistics on Baking services, which helps you to select a good Baker to delegate your XTZ to and earn stakingrewards.) Atomex is a HD Wallet and Hybrid DEX, build on Tezos. You can use Atomex to exchange assets in an anonymous and secure way without the need to trust a third party. I wrote a more extensive article about Atomex, which you can read here. 

tzBTC
tzBTC is BTC tokenized on Tezos, backed 1-1 by Bitcoin (BTC) and is created by crypto financial services firm Bitcoin Suisse, crypto bank Sygnum, crypto market maker Woorton, crypto exchange Bity and Taurus. tzBTC is monitored by the Bitcoin Association Switzerland.

Why tzBTC
You can exchange XTZ for BTC on Atomex and pay about $6 per transaction. The costs consists of transaction costs in two networks since you interact with two different networks: the Tezos blockchain and the Bitcoin blockchain.
But if you use tzBTC, which is in value pegged with BTC so is in sense of value the same as BTC, you only interact with the Tezos blockchain. tzBTC is a token that lives on the Tezos blockchain. So if you want to exchange XTZ for tzBTC, you only pay $0,5. This is especially interesting for high-volume traders. (On top of the fact that transactions are cheaper, they are faster as well. More here.


You can download Atomex on the official Atomex website. https://atomex.me/

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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant.


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