ATOMIC WALLET

endang79 (7)in #ico • 6 years ago

Abstract

A brief glance at the emerging market of crypto projects is sufficient to understand the potential of the blockchain as a powerful, advanced technology of the future. Yet, despite its vast prospects, a major part of blockсhain-based systems still remains at an entry-level, far from being qualified for a generaluser.
Today, the developers’ community is facing a number of unresolved issues preventing a full-scale implementation of the blockchain technology in a vast variety of industries, where it could potentially be applied at a great profit.

Costs are the cornerstone in the world of cryptocurrency and crypto-trading. All investors must deal with several types of fees. This is the standard model: You pay for third party services, such as in the classic stock market.
In addition, because of the decentralized nature of cryptocurrency, you have to pay for blockchain usage. In addition to these costs, many wallets and stock exchanges charge their own fees to add or withdraw funds from the market.

As a result, there are three types of transaction costs for working with digital assets:

Fees for order execution
Transaction costs
Costs to add and withdraw funds

The world of cryptocurrency is full of exchange and exchange services, each of which has its own cost system. In this article, we will look at some popular sources for BTC / LTC exchanges and different amounts of exchange to understand the difference between atomic exchange and traditional cost systems.

Crypto market challenges

Blockchain-powered technology intends on leading the future of financial markets. Today, however, we still observe extensive obstacles to the development of blockchain-based markets.
One of the greatest market challenges is the remaining necessity of trust towards centralized financial services in an otherwise decentralized environment.
Third party custody risks affect ecosystem sustainability, bringing vulnerability to manipulative and regulative actions.
Atomic Wallet radically solves problems are described above by introducing a fundamentally new platform for custody-free, transparent, immutable cryptocurrency trading. Our platform is the simplest way to connect buyers and always within a decentralized framework. Atomic Wallet is a new type of decentralized cross-blockchain exchange.

Atomic swap costs in the Atom Wallet

Atomic swap operates in a fully decentralized way, which allows you to get rid of two types of costs at once. First, you don't need to pay intermediary fees (to exchange or exchanger) for crypto transactions. Second, the wallet itself does not require payment for transactions. You only need to pay a fixed network fee, which does not depend on the amount of currency exchanged.

Total cost: 1.4 USD

B total cost: 1.4 USD

Transaction costs are constant for each swap amount in one moment.

Okex fee

Okex is one of the oldest and largest crypto exchanges. The estimated monthly audience is hundreds of thousands of users, and the daily turnover exceeds 1.5 billion dollars.

Fees: https://www.okex.com/pages/products/fees.html

Maker fee: 0.15%

Taker fee: 0.20%

1LTC = 93.9 USD *

Poloniex fees
The Poloniex platform, one of the largest exchanges based in the US, presents another example of the cost of exchanging crypto-exchange.

Fees: https://poloniex.com/fees/

Maker fee: 0.10%

Taker fee: 0.20%

1LTC = 93.9 USD *

Changelly Fee
The next participant of our review is Changelly, the cryptocurrency instant exchange service, integrated into several of the largest exchanges, has a monthly turnover of more than $ 500 million.

Fees: https://changelly.com/faq#how-does-changelly-work

Changelly needs a fee of 0.5% for exchange. For example, if you want to change LTC to BTC:

1LTC = 93.9 USD *

As you can see from the summary table, cryptocurrency exchange using atomic swap technology is useful for every number of transactions.
Calculations for exchange fees and Changelly services are made without taking into account the cost of deposits. Fixed network costs for atomic swaps allow you to save a lot, while at the exchange of costs becomes higher in proportion to the increase in the number of exchanges.

The technology integrated into the Atom Wallet resolves many problems for various crypto fans - from novice investors to large whales.

feature

Atomic Wallet provides powerful in-demand services that allow users to reduce the effort spent managing crypto assets and making them transparent and reliable