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Crypto exchanges and trading platforms have become such an integral aspect of the cryptocurrencies that you can’t help but wonder if the industry would have gotten to this stage without them. Exchanges are the most popular venues for crypto trading, as they work by easily matching buyers and sellers.
On the other hand, trading platforms make it simple for you to trade crypto assets and give you access to the global cryptocurrency market. This is fantastic, but a major downside of these trading platforms, which make them somehow centralized, is that they require you to deposit your collaterals (like USDT and USDC) before you can start trading.
Cryptocurrencies are created to be decentralized, meaning that there is no one central authority controlling them and their transfer from one person to another. This is what makes them so attractive to people who believe in the power of decentralization. However, with the current working mode of exchanges and trading platforms, some might consider them a threat to the decentralization of the cryptocurrency industry.
These exchanges are controlled by companies or individuals, and they can be harmful to the industry because they somehow centralize power. What happens if the company goes through a very rough patch? Withdrawal of user funds can be paused, or worse, assets might become stuck on the platform. This is why recent events have prompted many users to take their assets off cryptocurrency exchanges and move them to the wallets they control.
This change in sentiment outlines the importance of returning full authority to crypto owners, which is why the sector is gradually moving back to decentralization in terms of crypto trading. eXFi, a decentralized crypto exchange, is ready to spearhead this change in cryptocurrency trading by returning privacy and authority back to users.
What Is eXFi?
eXFi.trade is a decentralized crypto trading platform that is ready to change how crypto trading works by bringing privacy back to users. Unlike the traditional platforms we’ve come to know of, eXFi doesn’t require users to deposit collateral into its hot wallet before trading. In addition, there’s no need for KYC registration, and it takes less than 30 seconds from visiting the site to opening trades. All you have to do is to connect via Metamask and you can trade available pairs directly from the assets on your decentralized wallet.
What this means is that as long as the users are still in ownership of their private keys, they are still in full control of their assets. This takes away the underlying concern over the potential repercussions regarding fund security if there’s a hiccup.
What You Should Know About eXFi
eXFi combines all of the features of centralized exchanges, and it does so while simultaneously providing consumers with full autonomy over their cryptocurrency holdings. eXFi is built on Layer 2 blockchain solutions, improving efficiency and low fees ranging from 0.019% for market makers and 0.06% for market takers. It also boasts of scalability in terms of order fulfillment and deep liquidity which allows users to place and fulfill large orders quickly at the best possible prices.
eXFi supports switching between multiple collaterals like USDC, USDT, DAI, WBTC, and the like without fees. You are able to speculate on the future price movements of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Solana, Cardano, and many more through the use of perpetual futures, using a leverage of up to 100X.
The platform provides several technical indicators and risk management tools so that you can perform your analysis directly from the platform. The detailed quick-start guide is also extremely helpful for new users. In addition, signing up gets you a $250 welcome bonus, and an ongoing referral program lets you earn up to 40% commissions on any new user you refer to the platform.
How To Start Trading On eXFi
Step 1: Visit exfi.trade and click “Trade now.” Connect your MetaMask wallet to deposit.
Step 2: Choose a trading pair: Next, you select from the various trading pairs available.
Step 3: Start Trading:
After choosing your preferred trading pair, you might as well go ahead with opening long or short trade positions with up to 100x leverage. You should, however, take advantage of the stop-loss and take-profit functions to protect yourself from market volatility and lock in your profits. These profits can then be transferred back to the connected MetaMask Web3 wallet.
Conclusion
eXFi has shown it is trying to provide a remedy to the growing concerns of centralization regarding cryptocurrency exchanges and trading platforms. If you’re looking for a platform that gives you a lot of control and doesn’t require you to put your trust into a centralized entity, then eXFi trade is certainly the right place for you.
eXFi offers exceptional live-chat support and maximum security. Although the number of trading pairs available is currently limited, more are expected to be added in the near future. To learn more about the eXFI decentralized trading platform, please visit the official website, or check out the company on Twitter, Discord, or Telegram.
