ONEPAGEX: One page to rule the cryptoexchange world
WELCOME TO READ MY ARTICLE ON ONEPAGEX: a crypto exchange platform that allows traders trade and exchange multiple crypto currencies with unbelievable ease, speed and fees.
INTRODUCTION
Trading is basically a means for exchange of goods and services. Today a medium of exchange is used, medium like money. The invention of money has made trading simpler.
The market over the years has evolved to help accommodate new inventions to improve the way trade is carried out. Banks invented E-transactions, wireless transfer of funds, online shopping and so on. These inventions for trading were however not the panacea for the problem but they offered some level improvement.
In 2009, the blockchain then came with a solution; to give traders full control over trading and moneys. The blockchain provides users with the opportunity of trading that is more secure, transparent, anonymous and out of the control of any financial authority or government manipulation.
Cryptourrencies just like the traditional fiat currency used in our day to day trading have been designed to work as medium of exchange in the world. The currency is decentralized in nature, security and anonymity of transactions. When Bitcoin first arrived and won over a certain amount of users, a plethora of other cryptocurrencies came up. Looking at the features of a blockchain technology, it is no wonder why so many sprung up.
In this vast economy and with multilateral trade taking over, there is a need for the several cryptocurrencies to interact. Some sort of inter-currency transaction. One cryptocurrency exchanged for another. This led to the advent of crypto exchanges.
Certain Issues with exchanges
[1] The transaction fees charged by these exchanges are somewhat cutthroat but must be paid by the trader in order for the exchange to facilitate his transaction.
[2] The know your customer (KYC) policy was a means for these exchanges to truly verify that users are who they claim they are. Honesty and integrity are key in business transactions. However, the KYC had some drawbacks:
the cost of running these KYC processes has been increasing over the years. The year 2017, experienced a rather discomforting increase of 16% in the cost of running the KYC policy. This figure is still on the rise.
customers who engage in the KYC on most exchanges provide personal information that must be vetted by the exchange to ensure or validate their identity. This customer on boarding process are very complex and with the current rise in cryptocurrency users the time spent on the process will definitely increase. Right now most institutions take up to 3weeks to complete the KYC process for their new customers.
There are over a thousand cryptocurrency today some having certain strengths and advantages over the other. These currencies need to interact and they do so using different exchanges. This is because most of the exchanges do not support trading or transactions of certain cryptocurrencies. For a user who has a lot of investment in a considerable amount of cryptocurrency will find this very difficult.
Imagine you having over 50 cryptocurrencies and they are not supported in a single exchange.
What if I told you that there was ONE solution to this problem of EXCHANGE of multiple currencies? Multiple cryptocurrency exchange all in a single PAGE.
I bring to you ONEPAGEX
What is OnePageX?
OnePageX is a simple cryptocurrency exchange that offers a wide selection of cryptocurrency; and rids the exchange of these cryptocurrencies of complex registration processes.
’’’IT IS A GREAT CONCEPT WITH NO COMPLEXITY’’’
OnePageX currently supports over a 140 cryptocurrencies.
Benefits of OnePageX
[A] NO REGISTRATION
To get rid of the whole multi step and complex registration processes associated with current platform, the OnePageX platform offers its users a "no registration" feel.
Every transaction created by a user simply adds a session on the browser. If the user wishes to use that current session, he simply copies and paste the URL or bookmarks the page. Easy and simple as they come!!!
[B] SPEED
The rate of transaction on the platform is almost instant. However, transactions cannot achieve completions until the deposits are confirmed. The confirmation of these transactions are a function of the fees to be paid, the nature of the asset(s) being traded and the level of congestion in the blockchain. That being said, the transactions should achieve completion in less than half an hour.
[C] WEBSITE INTEGRATION
Considering that several exchanges do not support the whole or even all the best cryptocurrencies available, OnePageX designs a new web tool that enables the trader overcome that trading limitation. The tool is called the’’’ONEBOX’’’. The ONEBOX is a simple widget created by OnePageX to allow websites use their exchange services.
The integration process is not rocket science; the snippets are copied and pasted and voilà! quick cryptocurrency exchange is achieved. The onebox widget is both mobile and desktop friendly.
[D] FEES
The transaction fees which play a major role in determining the speed of the transaction, is 0.5% of the transaction with a small network fee.
STATUS INDICATORS
The status indicators provide users with succinct and accurate information on the state of the transaction being carried out. It is a basic live representation of the current stage of the user exchange. The indicators are as follows:
[a] 0 of X
X is any positive integer. This implies that the deposit has not been confirmed. It is usually caused by fees of the transaction or by the level of congestion on the blockchain. It is not the fault of the exchange. It will be processed eventually.
[b] Withdrawal Queued
This implies that the deposit has been completed and the transaction will be completed in no time.
[c] Below Minimum
Exchanges have a lower limit of amount of currency that can be transferred by a user. Going below a preset value of the OnePageX platform will lead to forfeiture of the deposits.
AS A USER, ENSURE THE DEPOSITS ARE WITHIN THE PRESET LIMITS BEFORE PROCEDING.
[d] Flagged for Review
Any issue that may arise with a transaction is carefully scrutinized by the administrator and the transaction is proceeded as soon as possible.
Resources for enquiries include:
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