This entry is part 5 of 9 in the series Overview of EOS Exchanges

A lot has happened until my last post on EOS exchanges I did have some very good conversations with our friends at FINDEX giving me some updates on trading and their current RAM handling logic. We also saw an outage at SouthEX that also hit me during trading. Last but not least, BTEX seems to uncover the real trading environment within the Meet.one app I have performed some initial tests which I would love to share with you.

Exchange volume update

Exciting times to be in. The first time I would like to give an update on current trading activities in EOS-Exchange-World. The total value of trades of the TOP 3 exchanges has reached a 24h volume of 410,000 EOS. which is still small compared to the established exchanges, but we are getting there.

SouthEX outage

We saw an issue with SouthEX yesterday where inbound orders were accepted, but no tokens or transfers were happening. This was critical since you could send EOS to buy tokens, but no transactions were shown on the exchange. It happened during night in China, so the support responded with a delay of some hours. It might be coincidence, but the issue happened on a day where a new trading pair was added. Since the issues with Newdex we all get a little nervous if this happens.

As always SouthEX support, once active, was able to resolve the issues but, as it seems, you will have to contact them yourself to get refunds which should not be this way. I received full refunds of transactions today.

There might still be an issue with these type of “DEXes” (in fact not really a DEX) where all trades are handled through a central wallet. If you want to have some security you can check https://eosflare.io/account/greatsouthex before trading as this will show you if there are inbound and outbound transfers happening.

I did recommend SouthEX to install some advanced monitoring for the account to identify if no inbound or outbound transactions occur in a timeframe. They want to check if this can be done.

FINDEX update

As I reported earlier, FINDEX has been integrated into the MEET.ONE App lately. I have had some very good discussions with the development team and found an issue that you need to be aware once you want to start trading there.

I have to say that the “issue” is, in fact, a positive sign for a real DEX as it indicates that the trade transaction is written into the blockchain directly. The back draw of this current setup is that you need to have spare RAM available to be able to trade! If you are low on RAM you might want to buy some before starting to trade.

My issue was that I was able to confirm the trade by entering the MEET.ONE password but the transaction was not recorded on the blockchain without any notification.

Just some hours ago FINDEX has implemented a warning that asks you to add RAM to your account. They also commented that they will rethink the logic and might use own RAM for transactions to match other exchanges procedures.

The integration into MEET.ONE works great, entering the password is seamless and trading will be nice, once volaume pick up.

BTEX launch

The miracles of BTEX have been lifted, there have been some updates to the website and, starting today, guess who? MEET.ONE has integrated BTEX trading into the app. Another great move of them. Trading is now possible and I have taken the first look.

I was always a little suspicious about BTEX as there Telegram group is not managed well and mostly Chinese. The usual pornographic images and advertisings stay for longer as usual. This has massively changed today though as the amount of members has exploded based on MEET.ONE integration.

On the BTEX website trading is still not possible, if you select a trading pair you will be prompted with a comment to use the mobile app.  You are still able to purchase BT Tokens on the website, too. The price is increasing over time and there is kind of a payback program to reward you if somebody else buys within one hour. Not sure about this but you can buy the BT Tokens on CoinDex for 0.00715 EOS while the investment price is at 0.0124 EOS.

 

MORE.ONE promotion!

Right away with the integration, a special BTEX promotion has been introduced to the More.One app. In my case I was able to claim 5 BT, you will need the MEET.ONE app additionally to connect your account.

Trading with BTEX

The interface integrates nicely into the App, while it is basically just calling a mobile website connecting the the MEET.ONE wallet. I found the login process to be very intuitive though it is once more all Chinese. Once selecting a trading pair opens up with common trading features.

The interface has some scalling issues for the price and quantity based on the token name. Somtimes some numbers are cut off which is inconvenient at entry. There are now arrows up/down to vary with the price. A scale from 25% to 100% for quantities is available. The first impression is nice though the switch of the colour schema is surprising.

Exchange Type: Decentralized Exchange
Access: Meet.One
KYC: No
Min. Order: unknown due to chines error message
Fee: none visible

 

As always with new exchange releases:

BE EXTREMELY CAREFULL – watch and compare prices with other exchanges. I have seen some IQ (Everipedia) tokens move for 0.0001 EOS!

Conclusion

As said earlier, a lot is happening. Once more MEET.ONE has shown first mover quality and integrated some further DAPP´s on the fly.

Trading is getting more convenient every day! That´s the good news. But stay awake and be careful, not everything that shines is EOS-Gold!

That´s it for today. As always feel free to comment and recommend any new exchange you might come across.

Also feel free to follow me on twitter for latest updates: https://twitter.com/bitcoin_quest

25 votes, average: 4.72 out of 525 votes, average: 4.72 out of 525 votes, average: 4.72 out of 525 votes, average: 4.72 out of 525 votes, average: 4.72 out of 5 (25 votes, average: 4.72 out of 5)
You need to be a registered member to rate this.
(1584 total tokens earned)
Loading...

Responses