Counos platform has unveiled its decentralized exchange service in recent weeks. It is some time that the attentions to cryptocurrency decentralized exchanges have dramatically increased. It can be said that the speed of ongoing welcoming of decentralized exchange has been so high that many critics believe that in the foreseeable future, an extensive volume of cryptocurrencies in the world will be conducted through decentralized exchanges. But what is the reason for the high interest of many users in decentralized exchange?
So much new about hacking, illegal measures, and money laundering at centralized exchanges has been so high that they have encouraged the users to apply various methods of cryptocurrency exchange. The volume of stolen cryptocurrencies through centralized exchanges has been estimated more than 1.5 billion dollars. Of course, it does not mean that centralized exchanges are unsafe for the cryptocurrency trades in all cases. The fact is that with the development of security cases and also adopting anti-money laundering policies, the world’s credible centralized exchanges have been successful in maximizing the security level of cryptocurrencies transfers.
All in all, decentralized exchanges donate high advantages to users. At decentralized exchanges, the users can be in touch with the other users directly and transfer their cryptocurrencies to each other’s wallet without transferring to a central wallet. In this transfer method, in addition to removing the cryptocurrency change fees at the centralized exchanges, due to the lack of storing cryptocurrency assets in a centralized wallet, the security level of cryptocurrency exchange significantly increases.
Decentralized exchanges have demerits, such as the limitation in the amount of cryptocurrency change and fake financial trade requests. Counos platform has resolved many of decentralized services through offering a new decentralized exchange.
1. The Possibility of Changing Fiat Moneys to Cryptocurrencies
In many decentralized exchanges, there is not the possibility of exchanging cryptocurrencies with fiat money or buying cryptocurrencies through them. It causes many problems for the users, since many users are willing to buy cryptocurrencies directly through valid currencies such as U.S. dollar or euro. Counos decentralized exchange has made possible changing cryptocurrencies to fiat money or vice versa for the users.
2. Supporting Major Cryptocurrencies of the Market
Counos decentralized exchanges supports many credible cryptocurrencies of the market. Cryptocurrencies like Bitcoin, Ethereum, Counos Coin and many other cryptocurrencies have the possibility of being exchanged at Counos decentralized exchange.
3. No Limitation in Volume and the Number of Trades
At Counos decentralized exchange, the users are able to create the number of sale offers they will. Moreover, the possibility of buying cryptocurrencies is there without any limitation.
4. Avoiding Making Fake Sale Offers
One of the biggest criticisms at decentralized exchanges has been the existence of fake and unreliable offers. To avoid creating fake sale requests, Counos has created deposit payment algorithm. With this algorithm, the users who create a new sale offer should put 3% of the total amount of their cryptocurrency exchange request as the deposit in a safe shared wallet. It will remove the possibility of making fake sale offers.
5. Using Escrow Service
Using Escrow service has got the users assured. Via Counos Escrow service two trade parties get engaged in a wallet with three safe private keys concomitant with an agent. The existing assets in the shared wallet will not be unblocked for both parties unless they verify at least two private keys from three ones. Hacking the users’ asset and internet fraud will be avoided using Escrow service.