Decentralized exchanges are becoming increasingly popular due to regular hacks and exit scams associated with unlicensed and unregulated exchanges. It is a fact that more than $1.6 billion have been stolen from centralized exchanges. Hence TokenPay, Litecoin, and Verge have teamed up and created a decentralized exchange backed by German’s WEG Bank which the consortium owns a share in. We take a look at why eFin DEX is next level.
What is eFin DEX?
eFin is an exchange hub of TokenPay. It is a private, unhackable, decentralized and non-custodial exchange. Traders can now trade on an exchange that is secure and does not have to rely on third parties. The platform implements Atomic Swaps, Native SegWit, Infinitesimal and Lighting Network-compatible chains.
Furthermore, eFin gives merchants a platform that allows them to handle large scale crypto to fiat conversions. With eFin, it is easy to convert TPay, Verge and LiteCoin tokens for mBTC that can be used for CryptoBet, Esports.io, and TokenGaming. eFin also operates on the TokenSuisse platform and WEG AG Bank.
Creating a stable trading environment
Decentralized exchanges are a viable alternative to centralized exchanges that have ownership of your private keys. It’s almost like entrusting your bank account to a stranger. However, decentralized exchanges are not perfect either. You may have control over your funds and private keys, but some of them are slow and have little liquidity. The eFin DEX solves these problems by offering traders access to their crypto wallets, even if servers go down. A proprietary liquidity solution matches your trades whilst the eFin coin allows for instant transactions.
For more info, read Bitmart’s blog ‘What is a decentralized exchange?’
Introducing eFin Coin
eFin Coin is the exchange’s coin that enables instant transaction confirmations at low fees. Furthermore, the coin was developed on its own blockchain and facilitates financial transactions on the eFin DEX. Users can also buy crypt-based financial products from TokenSuisse and pay trading fees. It is now easier than ever before to benefit from previously unobtainable Swiss assets. There is no need to deal with the strict requirements associated with obtaining Swiss assets.
eFin Coins power the decentralized network and assist with improving liquidity.
Besides buying eFin Coins, eFin is also distributing coins to TokenPay holders and users on the exchange. Furthermore, eFin coins are also distributed via PoSv3 rewards and trading incentives. The eFin exchange is the first to provide such an incentive!
Advantages of eFin
The Infinitesimal Protocol that is being implemented on the eFin network, allows the exchange to verify transactions faster.
Being a non-custodial decentralized exchange means that no one can access the user’s coins.
Cross-chain Atomic Swaps
Trade your cryptos cross-chain. For example, trade Bitcoin on another blockchain like Ethereum.
The eFin platform is compatible with the Lightning network thanks to the Native SegWit or Segregated Witness.
Multi-signature transaction engine
This technology allows for the application of various private keys and gives the platform its decentralized features.
Earn staking rewards
You will receive free eFin coins by simply signing up to the trading platform and staking TPAY tokens. TPAY is the coin representing the TokenPay blockchain.
A double bonus awaits you! Not only will you get TPAY by staking the coin, but you will also receive eFin tokens. Please note that rewards are calculated on a 5x – 12x staking reward multiplier.
Register as a partner today and share in the exchange’s transaction fees. Revenues are distributed to eFin users or partners. Register today with the Bitmart affiliate link – https://www.efin.cx/?rc=UG5EVYJ.
For more info, visit the eFin website where it is your keys and your coins. Click here.