The demand for digital currencies by holders of cryptocurrency assets has really raised the need for an effective, seamless, secured and transparent exchange to trade their desired assets. Many cryptocurrency exchanges have been created in response to this need but nevertheless there are still different setbacks.
The IronFX Group has seen the need to create a well regulated, service-focused, high standard and effective exchange to help facilitate funding through FIAT and CRYPTO currencies. The IronX Exchange will be created as a joint venture between one of the global leaders in online trading, the IronFX Group and EmurgoHK, one of the global leaders in blockchain technology, the creator of CARDANO and the hugely successful ADA COIN.
Despite the huge rise in the use of cryptocurrency and the need to create exchanges, there are still several barriers faced by existing crypto exchange.
THE PROBLEM FACED
- Lack of regulation: Lack of regulation is a barrier faced by existing cryptocurrency exchanges. There are several exchanges that are unregulated thus creating forced and false transaction without being secured. Unregulated exchanges are prone to security breaches and fraudulent activities.
- Poor liquidity: Lack of good order book causes stagnation in the activities of users within an exchange. A non-dynamic order book is likely to cause less activities thereby causing poor liquidity.
- Issue of FIAT funding: Existing exchanges do not allow users to purchase cryptocurrency with FIAT money.
- Lack of customer support: Most of existing cryptocurrency exchanges lack proper customer care service system. They also lack the human capital infrastructure necessary to support the high number of customers and transactions.
- Online security: This is the most critical aspect of an exchange. Many investors fund have being stolen and hacked due to security breaches by cyber criminals.
- Technical and transaction issue: Many existing exchanges possess high transaction fee with delay in the execution of trades, deposit and withdrawals.
THE IRONX EXCHANGE SOLUTION
- The ironX Exchange aims to provide a safe, seamless and effective cryptocurrency exchange that will provide crypto asset investors who wish to diversify their investments direct access to the low-correlation asset classes that are offered on the IronFX Group trading platform (such as spot FX, CFDs, shares, futures, commodities, indices) including the ability to utilize higher leverage when trading on the IronFX Group trading platform.
- The IronEx Exchange also aims to solve the issue faced in crypto market by leveraging the highest technology ro provide a secured connection to curtail liquidity problem.
- The IronX exchange also aims to provide users KYC and AML features so as to be fully regulated and to be able to curtail any form of issues.
- The IronX Exchange also aims to link with other prominent exchange to boost volume and increase liquidity and trading activities.
- IronX Exchange aims to provide users with dedicated customer support team with over 30 languages to help fasten and handle queries from users within and outside the platform.
- The IronX Exchange also aims to undertake audits from international reputable specialist third-party audit consultants on its platform. Also aim to provide a user friendly interface platform.
- The IronX Exchange is also offering fiat deposits and withdrawals.
KEY FEATURES OF THE IRONX EXCHANGE
- Easy fiat-to-crypto purchasing capabilities
- Error detection codes on all records.
- Easy-to-use interface
- High security and data protection
- Always active, dynamic database
- Quick failover support
- HFT capable systems
- Monitoring and alert
BENEFITS OF IRONX EXCHANGE
- Access to different cryptocurrencies
- 24/7 supported trading
- Run reports
- Fixed and less transaction fee
- Audit trades
- supported order types including market, limit and stop
- Machine engine
The IronX Exchange will offer client the ability to trade across in the following devices, including:
- Android and IOS system
- Traditional online trading platform e.g MT4 and webtrader
The IronX Exchange target customers like:
- Digital asset traders
- New-to-market users
- ICO companies
IronX Exchnage will charge trading fees of about 0.2% and also may charge fee for withdrawals. The IronX Exchange also provides eligible committee tp assists in reviewing application listing.
THE IRX TOKEN
The IRX TOKEN is an ERC-20 Token built on the Ethereum blockchain technology and the token will serve as the main coin backing the system usage. Fees can be paid using IRX Token with different discount. Developers who wish to list their token can also pay listing fee in IRX tokens.
IRX TOKEN SALE
The token private sale ran from the 20th of June 2018 untill the 30th of August 2018 and successfully sold 67,691,787 tokens, at the price of 0.33$.
For more information about the project visit:
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