In decentralized Exchanges, which work completely without Intermediaries, see, many experts in the industry, the future of crypto-currencies. The first decentralized Exchange on the NEO-Blockchain was expected with great excitement and, with a large volume of trading in the market.
NEO’s project is a decentralized Exchange “Switcheo” is live and can directly ensure from the beginning a great deal of attention. Switcheo could collect in ICO of more than 8.5 million dollars.
How Crypto Globe reported, has seen the stock market directly in the first week an average trading volume of $ 2 million per day. The stock market is in order after a short time already one of the largest decentralized Exchanges and will soon attack Ethfinex, Idea and Cobinhood.
A large part of the decentralized exchanges, so only the trade of ERC20-Token, based on the Ethereum Blockchain. Switcheo, however, is based on the NEO-Blockchain, and trade with NEP5-Token.
The Switcheo white paper argues that it is first to accept national currencies, such as Euro, Dollar or Swiss franc (free Translation):
Central exchanges (such as Binance, Bitfinex, etc.) can be divided into two categories: stock exchanges, Fiat to accept currencies and others reject this. Switcheo is first to offer Fiat Trading pairs, but only the crypto currency trading with virtual tokens and Assets.
Switcheo allows it to trade more than 20 different tokens, wherein the trading pairs of tokens are initially on the NEO, GAS and its own Currency, the “Switcheo Token” (SWH) limited. SWH is currently at a trade price of just under $ 0.05 and a market capitalization of $ 18 million. Since today Switcheo is listed on coinmarketcap.com .
The Switcheo Token works in a similar way to the Binance Coin of the platform Binance. This can be used for trading and brings the user to a discount in Trading. Currently Switcheo does not charge any fees for withdrawals and deposits.
In the white paper will continue to be translated, that Cross-Chain transactions should be implemented (for free):
With the increasing popularity of projects, the Blockchain is based on the NEO-Switcheo expand the trade to QRC20 Tokens (QTUM).
So far, there is still no exact time horizon up to when Fiat currencies are to be added.
Decentralized Exchanges are safer and more cost-effective than centralized exchanges. The Switcheo platform follows the Release in a probably continuation of movement within the crypto market. When considering the basic idea of crypto decentralized Exchanges can eliminate currencies the last centralized point within the crypto-system. From our point of view, the development represents, therefore, a positive Trend that will hopefully continue and eventually prevail.
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