On January 9th, 2021 there was yet another exciting development in the Utopia Peer-to-Peer (P2P) Ecosystem; a fully integrated and automated exchange for Crypton (CRP) was unveiled to an eager global community by a team of independent developers with the assistance of the 1984 Group. The new Crypton Exchange offers the very best attributes of any cryptocurrency exchange: automated and anonymous account registration, no or low fee model, automated withdrawals with no limits, censorship resistance, community chat feature, and genuine regard for user feedback.
Automated Anonymous Account Registration
Just as with the Utopia P2P Ecosystem itself, all you need is an alias and a password. The exchange uses your Public Key to authenticate you in an automated fashion, there is no solicitation of your real name, your phone number, or even an email address. New accounts are automatically approved without any human intervention and gain full access to the exchange. This basic account registration is the only form of verification required, user identity verification simply does not exist in any form on the exchange. Even your IP address is not collected because all ecosystem websites ever see is “127.0.0.1” from any user, exactly as it should be for a privacy-preserving ecosystem like Utopia.
No or Low Fee Model
The first trading pair available at Crypton Exchange is CRP/USDT and depositing or withdrawing either asset incurs no fees beyond the transaction costs of the associated blockchain network. A minority of other cryptocurrency exchanges take a fee upon depositing, while the vast majority of exchanges take a fee when withdrawing, but Crypton Exchange does neither–only charging for the blockchain transaction cost. Trading incurs a fee of 0.1%, one of the lowest rates across the entire industry.
Automated Withdrawals with No Limits
Ready to withdraw your newly acquired Crypton (CRP) to your Utopia client’s built-in uWallet? You won’t have to wait long, because Crypton Exchange has automated the process and does not have any artificial caps on amounts. This means that within a few seconds of your request, your CRP is transferred to you. No compliance team is required to manually approve your request, you will not be asked to take silly pictures of yourself holding your passport, nor will you be told that your funds have been frozen due to suspicious activity. The withdrawal process is just as smooth and painless as the deposit process, exactly as it should be.
Although Crypton Exchange is available on the open web at https://crp.is, because it is also hosted in the Utopia P2P Ecosystem, the exchange is resistant to both censorship and seizure. Authorities cannot seize its Utopia domain from a centralized registrar, nor can they issue a court order to a hosting provider to censor it because the exchange is anonymously self-hosted and securely delivered across the peer-to-peer network of Utopia. Crypton Exchange leads the way in demonstrating just what is possible with Utopia P2P.
Community Chat Feature
One of the most rewarding aspects of the Utopia P2P Ecosystem is the ability to interact and communicate with users from around the world, as there are vibrant communities from Vietnam, Turkey, Russia, China, and Latin America, among others. Crypton Exchange has enabled such interaction to continue even on the exchange itself by implementing a chat box directly in the trading interface, showing us how privacy and anonymity can still be social and friendly.
Genuine Regard for User Feedback
Since CRP/USDT is the first trading pair available on Crypton Exchange, users in Utopia naturally compared the slow transaction speed and high transaction cost of USDT’s ERC-20 token on the Ethereum blockchain to Crypton’s nearly instant speeds and very low costs. One of the first user requests that emerged was to offer USDT as a TRC-20 token on the Tron blockchain. Within days, Crypton Exchange support informed users this request was accepted and they will begin offering this option later in the month. Additional community feedback has included the adoption of major trading pairs alongside CRP and the porting of the exchange outside the ecosystem to the open web in order to expose more users to the amazing world of Utopia and Crypton–this feedback was implemented on January 25th, 2021. We are all excited to see what the future holds for Utopia and the new Crypton Exchange!