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Trade and invest smoothly: An interview with Fairdesk CEO Jacky Choi

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Fairdesk is a crypto and derivatives exchange that aims to build a platform that would enable its users and traders to go both long and short thereby profiting from the ups and downs of the market. Users can execute critical investing, trading, and risk decisions through high-quality crypto derivatives exchanges.

The platform relies on the core values of providing secure storage options in a reliable and transparent way. Fairdesk limits the scale and frequency of the stepped liquidation process, mark price, and funding rate to protect the client’s assets.

In an interview with Jacky Choi, CEO of Fairdesk we talked about the Fairdesk platform, what makes them stand out from the rest, their referral program, and much more.

1. What was the vision behind creating the Fairdesk platform?

The vision of Fairdesk is to be the leading financial service institution in the crypto industry. Fairdesk is one of the fastest-growing trading platforms in the blockchain industry. We open the global markets for traders to invest in a simple and transparent way. 

After working in the traditional financial industry during the past decade, I became disillusioned by the numerous constraints and unfairness I encountered. Unreasonable charges and narrow vision block users’ equal opportunities. We want to create a service-focused trading platform that can be easily used by everyone,  and that is exactly what we are doing.

Fairdesk breaks these barriers and will continue to iterate. Of course, no matter what we do, we will ensure that users can conduct simple, fair, and convenient transactions with the lowest rates and provide the most professional services.

2. There are a lot of exchanges in the crypto space right now. How is Fairdesk carving out its audience? What makes it unique?

Innovation

We are constantly optimizing and launching new products, whether by introducing exciting new ways to trade and compete online with Trading Arena, or releasing the                                                                                                                                                                                                                                                                  Fairdesk token, the backbone of the Fairdesk ecosystem. Clients who hold FDT are entitled to various privileges on Fairdesk and have additional rights from the tokens.

Excellent Execution

Another secret to our success is excellent execution. Fairdesk wants to let our users have great trade experiences and stay with us, which is a fundamental part of our business model. So we are doing our best to serve our clients better at every single step of the transactions.

Pricing

We are trying to provide high liquidity prices and the lowest transaction fees. Market changes in milliseconds, By the time the order reaches us, the price at which a user selects to trade may have changed. At Fairdesk, our business scale and the high volume of daily trading allow us to provide deep and consistent liquidity, giving traders more control over their trades.

3. Tell us more about the benefits that are offered to users on the Fairdesk platform?

Low Trading Fees

Perpetual trading of Fairdesk is one of the popular ways of trading in the world. In order to minimize the trading cost for our clients, we have set our fee rate to 0.01%/0.015% for both BTC and ETH; 0.018/0.028% for other assets. The fee structure is the lowest in the market.

Managing Your Risk

We protect traders’ downside risk with our range of stop-loss and limit orders. Fairdesk keeps it as easy as possible to track users’ profits with always-visible profit and loss snapshots. We have a carefully designed funding rate and a phased liquidation process that helps limit the scale and frequency of liquidation. 

Seamless Transactions

Fairdeskers can trade on the move with just a mobile phone. With our natively designed Fairdesk Go trading app and the smooth H5 version, Fairdesk is now easily accessible.

4. How does Simulated trading on Fairdesk help users trade with zero risks?

We are giving out a bonus of $888 in the testnet environment, the users can trade any product offered by Fairdesk. It costs nothing, and users won’t lose money for unwise decisions. It also allows users to observe any flaws in the analysis process so that they can begin the difficult task of establishing a clear trading edge.

5. What security measures are being taken to ensure that the exchange is safe from hacks?

We have many years of experience in building a secure financial system, while with Fairdesk: Crypto wallet safety is the top task for us. We take an approach to store private keys in offline storage secured by dedicated KMS hardware.

Data infrastructure has different separate zones and data authorization is kept at the minimum level. Data is backed continuously and could be recovered in minutes. Operational Risk is mitigated by internal workflow, 2FA authentications, and other best practices in the industry.

6. How does the referral program on Fairdesk work? Tell us about it?

The referral program lets users earn a bonus for each friend (“invitee”) who signs up and makes a crypto trade using the user’s personal signup link.

We are giving out two types of rewards for referees’ deposits and trading. The inviter can get a 2.5% commission of the friend’s first deposit, up to $300. The trading commission is automatically set up at 35% which is generated from the invitees’ trading cost.

Other than the trading profits, our users have the opportunity to get extra earnings through this program. There are lots of organic referees even without the program, but we insist on doing it to reward our loyal clients.

7. Community engagement is an essential part of any new platform. How are you ensuring that you grow your community and keep them engaged?

First of all, we hold a variety of campaigns, promotions and giveaways through all of our social media channels.  In this way we allow all members to participate in the crypto world in a fun way, we also invite them to join discussions and provide each other with investment advice.

Fairdesk has close and strong cooperation with many crypto communities. We will often co-host events such as AMAs. Let the user ask the questions he wants to know and become deeply involved in the Fairdesk community. 

Personally, our market team is always available on Twitter and I would like to hear all voices from clients. Our service team is available 24/7 for any requests and inquiries.

8. Talk to us about any partnerships or collaborations that Fairdesk is doing?

We cooperate with media groups such as Colibri from Russian and Clickia Group from Turkey to get the local community involved. It has been a great success. 

Fiat vendors like Mercuryo and Transak are working with us to provide additional purchasing methods like credit cards and Paypal. We are making every single step very easy to use in a secured environment.

Fairdesk also cooperates with well-known Investors and groups, such as QuickNode, Bloomberg, Yahoo finance, Cointelegraph, BTCmanager. They are helping us a lot to deliver business content, clients have multiple ways to see our latest information.

9. What lies ahead on the Fairdesk roadmap?

We have a whole bunch of great plans for 2022 and we are very excited about them: 

We upgraded our risk management system to be more transparent and fair. Fairdesk tokens are released and airdrop is ongoing. In quarter one and quarter two, we will have the precious metal listing on our platform for traders to trade, and future support trading strategies. 

The learning materials will be available on our exchange, Including the academic articles and trading tutorials. What we want to do here is to make crypto trading understandable and easy to get involved with the smallest costs. 

Later this year, we will launch social trading, from which the new users can choose to copy the tradings from master traders. There will be lots of experienced traders to follow, new users are able to get an ideal percentage of return from expert traders.

NFT & metaverse and DOVs are the innovative trends that will be combined into our products. 

For more information on Fairdesk, please check out their official website.

Disclaimer: This is a paid post and should not be treated as news/advice.

 

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.