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Exemption of registration, deposit and withdrawal makes Newdex surpass IDEX rapidly

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Exemption of registration, deposit and withdrawal makes Newdex surpass IDEX rapidly
Source: Newdex

Currently the number of EOS accounts has exceeded 500,000. These EOS accounts receive a fair amount of airdrops every day.

If airdrops don’t get to circulate, they are just a bunch of worthless random characters. It seems to be a common sense for early EOS users that once you got airdrops, you trade them on Newdex. This allows Newdex to quickly overtake the top ETH decentralized exchange IDEX in both daily active users and 24h trading volume.

Data Image | Source: SpiderStore

Data Image | Source: SpiderStore

Getting Rid of Registration and KYC, Newdex Gives Users its First Hit

When users start their journey on some kinds of exchanges, the first step it comes is registration. Such process could take users a lot of time to fill out their personal details. Email or mobile text verification might also be included.

Some exchanges even require users to show certification titling “I [CERTAIN NAME] certify to register the [CERTAIN EXCHANGE] exchange”, then upload a picture of them holding that certification. Process like this drives users away from their exchanges.

As exchanges for cryptocurrency, registration that requires KYC verification contradicts the anonymity principle of decentralization. Therefore, Newdex was able to impress users firstly by its friendly user experience that allows them to skip the registration.

Open Newdex’s official website, click on Sign In, the interface will show up as follows:

Users can sign in and start trading simply by authorizing with either Scatter Extension or mobile wallets. Both ways are starter-friendly, there is tutorial about using Scatter on the sign-in interface. For wallets, installing navigations are all very clear on their official sites.

There are 11 wallets supported on Newdex Web Version, including TokenPocket, MEETONE, Math Wallet, Bitpie, NovaWallet, EOS.Live, MOREWallet, Starteos, 51Token, Pocket EOS and PRABOX.

Despite IDEX requires no registration as well, they don’t support the function of code scanning, users still need to import wallet to start trading.

The Exemption of Registration Allows Users to Skip Deposit and Withdrawal

Behind the exemption of registration, users private keys are guarded by wallet.

On Newdex, users authorize with wallet directly. Because users do not need to make any deposit, their assets will be protected until deals are finished. Once orders are matched, selling assets will be charged from wallet, greatly reducing the time that assets are exposed.

When deals are finished, buying assets will be transferred to wallet directly, meanwhile the transfer details are clear and traceable on EOS main net. Users do not need to submit any withdrawing claim.

Although IDEX is a decentralized exchange, this platform still requires deposit and withdrawal. Not to mention the loads of withdrawing time effected by Ethereum’s poor performance.

Capturing User Needs is the Fundamental to Newdex

No withdrawal means no withdrawal charge on Newdex.

Limited to the operating cost on Ethereum, IDEX charges fees on placing and revoking order. Apparently such charging list is unacceptable by most users.

With friendly user experience, fast trading and various Tokens [listing 102 trading pairs], Newdex is able to seize target users firmly.

For investors who haven’t step in EOS ecology yet, it is not too late to get engaged and learn more about EOS.



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Press Release

Are Blockchain Casinos on the rise?

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Are Blockchain Casinos on the rise?
Source: Pixabay

Over the years, the online casino industry has gone through many changes with new technology allowing for better payment methods and software on the sites. One of the newer additions to online casino sites is blockchain and sites that use this.

Here, we are going to discuss whether we think that blockchain casinos are on the rise or not. Keep reading if you’d like to find out more about these casino sites.

What Is A Blockchain Casino?

Blockchain technology is essentially a system that allows digital information not to be copied when it is being distributed. This technology originally started out as a method for Bitcoin which is a cryptocurrency and now is present in many online casinos. Blockchain was first invented in 1992 and since then it has come a long way.

A blockchain casino is a safe and secure casino that uses this special technology to pass the information on. There are many new casino sites that are already using blockchain technology but is the number of these still rising?

Why A Blockchain Casino?

You might be wondering about the advantages of blockchain casinos and why many casino operators are making the switch to this technology. The main reason for this is that there are many advantages to using this technology. Firstly, there is more transparency and trust and there is also a reduced risk of fraud.

This is something which is very important to many players at online casinos as they want to make sure that they are not passing their details onto a company that is going to sell it on.

When a casino uses blockchain technology, they can also allow players to make payments with cryptocurrencies like Bitcoin which are becoming even more popular in recent years. Of course, there are many other advantages of using a blockchain casino both for the player and the operator. For this reason, we have seen a rise in the number of blockchain casinos online right now.

Issues With Blockchain

There are some minor issues with blockchain casinos that operators are working hard to resolve as soon as possible. The fact that it is new means that there are some general infrastructure issues and the transactions can go through a lot slower than some players would like. Of course, these issues are set to be resolved sooner rather than later.

The Rise Of Blockchain Casinos

From the research done by companies interested in blockchain casinos, it is clear that these casinos are on the rise. In the first quarter of 2019 alone, there was $1 billion of TRON cryptocurrency gambled online. This is a lot of cash and it shows that players are not afraid to try out this new type of casino when it comes to spending their own cash.

Research also suggests that this income came from over 432,000 users which are a lot more people than it would have been in the past when this technology was first invented.

Of course, it is also important to note that the online casino industry is growing at the same time as the popularity of blockchain casinos. It is expected that the online casino industry will earn more than $50 billion this year which is a lot of cash.

With more people playing online in general and the technology improving so much – it is expected that blockchain casinos will become even more popular as time goes on.

Final Verdict

It is clear that blockchain casinos have been on the rise for a while now and they don’t plan on stopping any time soon. As the technology gets more advanced and players can be sure that their details are going to be kept safe, these casinos are set to become even more popular.

On top of this, online casino regulators can rely on technology when it comes to ensuring casino operators are sticking to the regulations. Look out for the rise of blockchain casinos as time goes on and more casino operators start to make the switch to this technology.

We expect more payments being allowed in Bitcoin form as well as the other cryptocurrencies that are gaining a bit of momentum right now.

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