You can now download the desktop version of the atomicDEX , activate the BITCOINZ asset and enjoy a true DEX experience!
There are mobile versions of the atomicDEX for both android and iOS devices where BITCOINZ is not supported yet. We hope that the whole BTCZ Community is going to love atomicDEX and ask for a mobile listing as well soon!
Why this listing is so important?
This is a very big step for the BITCOINZ Community because it is our very first DEX solution. Until today, the users of BTCZ coins had only the classic Centralized Exchange options.
Importantly, the atomicDEX is not even a “common” DEX. Nowadays many platforms claim that they provide DEX services. Though in reality they are only intermediates between the users and a few partnered Centralized Exchanges which provide the required liquidity. This “fake” DEX model is the most usual today.
So what is so special with the atomicDEX ?
The atomicDEX platform is a true 100% Decentralized Exchange that enables the users to trade directly (P2P) between them with its atomic swap technology. Additionally, it is among the very few DEX platforms that give this functionality between (potentially) all the unique UTXO blockchains and the eth tokens or other tokenizing ecosystems.
The aforementioned doesn’t happen with the most popular DEX platforms. Because they usually offer swaps only between tokenized coins in a specific ecosystem that all depend on the same blockchain. Namely “wrapped” coins which take a specific “compatible” form in order to function in a certain ecosystem. Exactly like wBTC or wZCASH do for the ETH ecosystem for example. This common “DEX” approach leads to a centralized model that is very far from the pure cryptocurrency idea. With extra disrtortions like fee spikes because everything is over one certain blockchain. (maybe you already know about the crazy ETH gas fees).
On the contrary, the atomicDEX platform achieves to make the swaps between ALL these different ecosystems and other unique blockchains like those of Bitcoin, Digibyte, BitcoinZ, Dogecoin, Litecoin etc. Without of course the requirement to “wrap” a coin into a specific blockchain before the transaction!
You can imagine that the atomicDEX is something like a wormhole/gateway through all the listed blockchains and each blockchain is like a parallel universe. So with this application the trading between these parallel universes is finally achievable!
What are the user’s benefits actually ?
The benefits of an atomicDEX user are :
– A double functionality app which is a great wallet with decentralized exchange features.
You can sell a coin for another, so you are a seller/maker. Or you can fulfill an existing selling order because you wish to buy a coin paying with another one that you have in your wallet! In this case you are a buyer/taker. Very simple!
– Increased security because you own your keys and you trade from your wallet.
There are no 3rd parties with 3rd addresses like with the Centralized exchanges. So the associated risks are totally eliminated. Risks like exchanges that got hacked, scam exits, sneaky delistings and loss of funds etc are a past.
– Decreased transactions cost.
With no 3rd parties there are no withdrawal fees anymore because there are no withdrawals! Any traded coins are coming directly in your wallet when the atomic swap is completed. Even the fees are minimal in the atomicDEX. Only the taker (buyer) pays a 0.15% on the traded sum.
– Significantly faster trading.
Without any withdrawals, there is no waiting for long confirmations so a completed trade is considerably faster! Don’t forget that a trade should never be considered truly completed if the funds are not in your wallet.
– No limitation to specific trading pairs.
The user can trade with swaps between the coins of his choice. The number of the combinations is limited only by the liquidity. Every listed asset can be swapped for another one! In the most centralized exchanges the client has to use almost always bitcoin because the most coins have only a BTC trading pair. This is increasing even more the fees and requires double transactions.
– A smooth, real DEX experience with respect to the user’s privacy.
The atomicDEX platform has no long registration procedures with KYC (know your client) which usually remind Financial Institutes practices.