Dexage is a new generation decentralized digital currency platform. It gives its users the ability to trade digital currencies (E.g Bitcoin to Ethereum) as well as exchange digital currencies to fiat money (E.g Bitcoin to USD).
In addition to its exchange functionality is a financial feature that gives everyone the opportunity to access loans without credit checks. The loans are to be applied for, with digital currencies as collateral.
Furthermore, Dexage proposes the use of Dapps (decentralized applications) to create interconnectivity between its users. The Dapps can be used as both social and financial tools — as they will come with features that enable users to chat, send and receive funds in the same place, ensuring a balance between business and socialization.
Dexage uses a democratic approach in its drive to fully mirror the ideals of decentralization; hence, all its users are allowed to participate in the platform’s decision-making process – through a voting system.
Decisions such as coin listing and features review are to be decided by its community members.
In essence, the Dexage platform consists of:
- A multipurpose digital currency exchange
- A lending platform
- A social platform, powered by decentralized applications.
The central idea behind the creation of most digital currencies (Cryptocurrencies especially) is decentralization. Decentralization entails a situation where no central power is allowed to dictate and control an entity; rather everyone within that entity is allotted equal powers.
A majority of cryptocurrencies, for instance, are run on blockchains, with miners scattered all over the world, making it impossible for defined central points of control. However, as crypto users increased, there was a sudden need for platforms where they can easily buy, sell and exchange their cryptocurrencies.
This development ushered in the advent of centralized exchanges. These exchanges had central authorities who control their daily activities and had access to all currencies stored in their vaults (wallets). Furthermore, centralization means a central point of control, and if this central point is compromised – everyone in the entire system will be affected.
It didn’t take long before the first cases of hack attacks were reported and millions of users had to helplessly lose their cryptocurrencies. Similarly, some administrators of these centralized exchanges were reported to have been involved in devious practices – that sometimes led to price manipulations amongst other malpractices.
This turn of events has led many experts and critical thinkers into seeing the need for decentralized exchanges (DEX), as the centralized exchange (CEX) experiment has proved to be unsuccessful.
Many decentralized exchanges have sprung up over the months. However, a majority of them have had one issue or another – most notable of the issues encountered include:
- Liquidity and transaction volumes
- Crypto to fiat trading
Dexage have come up with ways to tackle these challenges, and is set to implement them. we shall discuss them below.
What Dexage Has To Offer
Decentralized Crypto to Crypto Exchange
Transactions on Dexage are protected by smart contracts; hence all parties involved will be mandated to express consent before transactions are fulfilled. This is to guide against unintended requests.
Furthermore, funds acquired from the exchange are stored in permission-less and completely autonomous individual wallets, that are inaccessible to any third party software including the Dexage platform.
During a transaction, Dexage only plays the role of confirming available funds in each party’s wallets, ascertaining the transaction’s credibility and matching trade requests from its order books.
Decentralized Crypto to Fiat Exchange
Dexage allows users from all over the world the opportunity to convert their crypto assets to fiat money, a process that serves to maintain DXG’s liquidity.
Furthermore, Crypto to Fiat transactions are done in a peer to peer model, where a user makes a trade request for a certain currency and is matched with another user.
As the platform scales, its users will be allowed to suggest future innovations.
There comes a time where we are tied between hodling our cryptocurrencies in anticipation of a possible price rise and spending cash on a pressing family emergency or business investment.
It can be a difficult choice to make. However, with Dexage’ lending feature you can spend your fiat money and keep your coins, one doesn’t have to go for another.
All you have to do is, deposit a certain amount of coins and borrow a percentage of its value in cash for a specified period of time. This way, you don’t have to withdraw the fiat value of your holdings to solve that pressing problem but can take a fiat loan while giving up your holdings as collateral.
As soon as you settle your loan obligation, you get your coins back.
This feature is also of immense benefit to creditors and can be used as an income source by anyone who wishes to loan out their Cryptocurrencies.
We have had many people come to us for ways to make money through Cryptocurrencies, a majority of them are scared of trading, and others can’t stand the reality that they might have to hodl for months to see any reasonable profits. Dexage lending feature is a sure fire way to make money from your coins.
All you have to do is:
- Agree on an interest rate
- Give out a loan for a specific period of time
- Receive your money back with interest or the debtor’s coins if he/she does not fulfill their loan obligations
- Either way, you have nothing to lose – profits are guaranteed. Dexage ensures that.
Social Network For Socio-Economic Transactions (Powered by Dapps)
It is an undeniable fact that we all have had to toggle between our social apps and our financial apps or exchanges to complete transactions. Well, that looks old fashioned with Dexage onboard.
60+% of the entire world population uses social media today.
Our perceptions are influenced by what we see online on a daily basis and a single damning article or tweet on our favorite movie star can easily affect our allegiance to them.
We all witness what happened when Google and Facebook put a ban on Crypto-related articles and ads — Massive sell-off.
I guess many are still not aware of the dangers posed by exchanges such as Bitfinex – reason being that they haven’t heard the news. Information is key and lack of it can prove lethal.
Dexage is building an all-encompassing platform for everything Cryptocurrency – where everyone will be kept abreast with the latest news, members can communicate with one another in real time, businesses can instantly communicate with suppliers and partners, and funds transferred instantly while chatting – thanks to Dexage proposed chat Dapp.
Cryptocurrencies are currently experiencing a decline in value due to certain circumstances – which include massive self-offs. This massive self-offs have been attributed to be as a result of malpractices, mostly from the activities of centralized exchanges (CEX).
However, the introduction of hybrid exchange, as well as decentralized exchanges (DEX) like Dexage has infused a sense of hope into the ecosystem. These exchanges are the future and will be in the center of crypto’s next run.
This is your chance to be at the forefront of that episode. for more info, visit https://www.dexage.io/