Decentralized exchange that allows you to generate tokens (2022)

Waves is a decentralized exchange with its own digital assets and digital assets. The platform mainly focuses on creating custom tokens, which are called smart assets. Users decide which tokens are added to the exchange and which are not. So the power is in the hands of the people.

Waves has a complete ecosystem for those who want to enter the world of decentralized finance with Low commissions, transparency and speed. It is not only designed to trade bitcoin and tokens, but also to earn passive income, either through staking or by providing liquidity.

How do I register for Waves Exchange?

Create an account on Waves Exchange.
You have different ways to sign up for Waves Exchange. Source: Waves Exchange.

Waves Exchange offers you several alternatives to signing up, which adds up points. You can do this with a file Email, Ledger or Weeper Wallet, or with the initial gateway. If you decide to use email, you’ll be glad to know that the registration process is one of the easiest. The platform only asks for your email address and that you set a password.

After creating an account in the stock exchange, No KYC verification requiredWhich is refreshing considering that more and more exchanges are asking for identity verification. If you feel more comfortable working on exchanges that require Know Your Customer (KYC) for security reasons, you have alternatives like Gate.io, KuCoin or Kraken.

How does Waves Exchange work

It’s amazing how simple the Waves platform is designed. Depositing or withdrawing cryptocurrency is easy and convenient. In terms of deposits, you have a variety of assets to choose from, as well as several blockchains. Remarkably, this exchange has its own blockchain, Waves, with which you can send or receive funds, regardless of the original token, WX.

Spot trading on the surf exchange
On Waves, you can select a trade, buy cryptocurrencies, or add liquidity. Source: Waves Exchange.

A key feature of Waves, which distinguishes it from other exchanges, is that It allows its users to create tokens. Yes, anyone can create one. But to be verified, it must go through a voting process in which the community makes the final decision. Being a decentralized platform, users have the power.

Generate a token in Waves Exchange.
At Waves, you can create your own code and let the community decide if it gets verified or not. Source: Waves Exchange.

On the stock exchange, you can buy with a credit or debit card Cryptocurrencies such as Bitcoin (BTC), US Dollar Neutrino (USDN), WAVES and Wave Duck (EGG). The purchase is made through a third-party payment platform, in this case AdvCash. Now, AdvCash may require some form of identity verification to use its services.

Regarding the liquidity of Waves, it varies from one asset to another. According to CoinMarketCap, the average liquidity for the BTC/USDN pair is 392/1000, which is a low number compared to other exchanges like KuCoin, which averages 650/1000 for the BTC/USDT pair.

Exchange of instant waves.
The spot trading section of Waves Exchange. Source: Waves Exchange.

Other Waves services include Liquidity pools, stablecoin swaps and bets. The spot trading section looks completely professional. It features TradingView charts and tools for advanced traders.

Ultrasound payment methods

Waves owns more than 30 cryptocurrencies and tokens For you to trade on their platform, including bitcoin (BTC), ether (ETH), litecoin (LTC), ether (USDT), BNB, binance USD (BUSD), DAI, zcash (ZEC), Monero (XMR).

As mentioned above, you can buy some cryptocurrency with debit or credit card through AdvCash. One of the downsides to this exchange is that there are no withdrawals for fiat currencies, only digital assets. To work on the platform, you must first deposit your funds into the Waves wallet.

About waves of commissions and fees

Unlike exchanges like Binance and KuCoin, which have a maker model for their trading fees, Waves charges the same commission for all parties involved in the trade. For the most liquid pairs, This commission is 0.1%, as in Binance and KuCoin. For other pairs with less liquidity, Fee 0.01 WAVESwhich at the time of writing was equivalent to $0.0813.

The latter has a fairly low fee, so you will be able to trade Waves without having to worry about extremely high commissions killing your profits. The platform offers a 50% discount to those users who pay commissions with the WX token.

Regarding deposit and withdrawal fees, there are no deposit fees. Withdrawal fees vary depending on the cryptocurrency and the state of the Waves network. for example, For Bitcoin it is 0.001 BTC, while for Ether it is 0.02 ETH. On the exchange site you will find a complete list of assets with withdrawal rates, minimum and maximum.

Waves Exchange deposit and withdrawal.
Wave deposit and withdrawal fees. Source: Waves Exchange.

Waves mobile app test

The design of the Waves mobile app is pleasing to the eye, a more streamlined version of the web and with which you can work from anywhere.

It has the same functions, whether it is exchanging cryptocurrencies, generating tokens, storing them, providing liquidity or others. The app is available for both iOS and Android devices.

How are Waves Exchange clients supported?

Amwaj has a chat that is controlled by a bot Where you can choose the reason for your inquiry. If you do not need any of the options presented in the chat, a help center with more information will be available, but only in English or Russian for the time being. To communicate with the representative of the exchange, there is an email [email protected], as well as social networks such as Telegram and Twitter.

D Waves Exchange Chat.
Waves has a bot-controlled chat for frequently asked questions. Source: Waves Exchange.

The positive thing about Waves is that, unlike an exchange, it is a complete ecosystem. And one of the parts that make up this ecosystem is the surf school, a Free Online Course on Cryptocurrency and decentralized finance that will be launched soon. The course will be available in Spanish and 19 other languages.

How secure is the decentralized exchange Waves?

Waves Exchange security measures include two-factor authentication. Being a decentralized platform, Users are responsible for the security, control and use of their funds. Waves does not ask for personal information, which means that in the event of a hack, attackers will not be able to access this data from your customers.

Moreover, Waves servers are located in different parts of the world and not in one place, which makes it difficult for cyber attacks. Please note that the deals are done directly between users, so you should be careful not to cheat your counterparty.

Conclusion: Is it a good idea to invest in Waves Exchange?

Waves is a decentralized exchange where you can trade all cryptocurrencies and tokens at low fees. An interesting thing about the platform is that It offers you the possibility to create your own tokens And let the community decide if it will be a verified asset. Thus, exchange does justice to decentralization, by returning power to the users.

If you are one of those who value your privacy, you will be glad to know that at Waves there is no mandatory KYC verification, although if you want to buy cryptocurrency with a credit or debit card, you will have to verify your identity on the payment platform the exchange operates on. .

There are some downsides to be aware of, such as the few payment methods available and the inability to withdraw with fiat currency. On the other side, Low liquidity waves When compared to other exchanges like KuCoin or Huobi. However, Waves is a good option for cryptocurrency trading.

rated items

  • KYC Verification: No.
  • Payment methods: debit or credit card, cryptocurrency.
  • Self storage: no.
  • Number of cryptocurrencies: more than 30.
  • Commissions: 0.1% for the pairs with more liquidity.
  • Interface complexity: medium.

Review

waves exchange

PROS

  • No KYC verification is required.
  • Low trading commissions.
  • You can create your own code.
  • Interface with advanced tools.
  • Governance by users.

Negatives

  • low liquidity.
  • Few payment methods.

Product Analysis

  • Amount of cryptocurrency
    0%

  • payment methods
    0%

  • user interface
    0%

  • a program
    0%

  • Customer Support
    0%

  • Liquidity
    0%

 

 

 

 

 

Bitcoin Review

Leave a Comment