- Overview of EOS Exchanges – trading EOS airdrop tokens on the EOS network (updated!)
- Overview of EOS Exchanges – trading EOS airdrop tokens on the EOS network (Part 2)
- NewDex, not a DEX? Trade issues, token issues and massive transfer times
- Overview of EOS Exchanges, updates and new arrivals
- EOS Exchanges, Update on SouthEX, FINDEX and BTEX
- EOS Exchanges – EOSDAQ, the newcomer
- EOS Exchanges – Findex Update and first Test of Desktop version
- EOS Exchanges – New Arrival WhaleEX
- EOS Exchanges – Bancor the Liquidity “Token-Swap-Station”
As part of my series about EOS-based token exchanges, I would like to share some updates with you. Since the first exchanges popped up, I have been doing testing and trading and would love to share my experiences with you.
Updates on Newdex and DEXEOS
I covered both exchanges in my recent posts. Especially my Newdex article lead to controversial discussions and was referenced to from many other pages. There have been two hacker attacks on Newdex and it came to light that, as of today, it is not a real decentralized exchange.
Time to give it another try though.
The last days I have been performing some heavy, low volume trading, the overall performance has improved significantly. There is nearly any delay right now. Within the unofficial Newdex telegram group there are very little complaints these days, too.
The number of tokens has increased further and I am very happy with the current trading pairs.
I personally still miss the actual token balances of all my tokens inside the main trading window like at DEXEOS but the balance of the select token can be seen, which is fine.
Still Newdex is not a real DEX, the management recently posted a note to all users explaining the current status. You can find the article here.
My personal experience is positive as of today. I am back trading at Newdex.
I was a big fan of DEXEOS, until some days ago. Trading has been seamless so far and I never had any issues. Lately there is a little “grain of salt” in our relation though, since a change was implemented in the trading system.
Other than all other EOS exchanges, DEXEOS has now connected trading to the block validation/mining process. The following was posted inside the DEXEOS telegram group:
This now leads to a trading delay, as long as the transaction is pending, you can see the following animation next to it.
For those of you just buying or selling from time to time this is no issue. For arbitrage trading this can be the minute between profit or loss. While the reason is obviously SAFETY, which should be above all, this is inconvenient, and I sincerely hope that Block.one will find a solution for this on a global basis.
I still like DEXEOS and trade there frequently.
Now, let´s look at some newcomers I have tested lately.
Everybody talks about Bancor in relation to exchanges and RAM trading, while some new exchanges claim to use the logic (and actually be the first to do so), EOS Bancor seems to be number one online.
One important message, their website is right now not running HTTPS! If you want to give it a try, be extremely cautious.
Exchange Type: Centralized Exchange (?)
Min. Order: 0.1 EOS or 100 Tokens
Well, I have tried three trades and can only warn you, the prices displayed are NOT AT ALL those that you will pay. It is part of the Bancor logic that the prices are, same as EOS RAM trading, calculated during the deal. On EOS Bancor this is currently like “Russian roulette”. This might improve significantly when volumes go up, right now you will never know what price you get.
This is what they state on the website: “The price is calculated by the Bancor algorithm,the display price is the current static price, and the user’s each transaction is actually divided into infinitely small transactions, each transaction will affect price fluctuations. Theoretically, the average transaction price is slightly higher than the actual display price, and the average transaction price is slightly lower than the display price.”
The few trades went quickly without issues, except the price which was always higher than displayed. I personally can not validate if this is legit or not. If one of you can validate, please post a comment below.
You don´t know what you get, it is not secured, I am keeping my hands away for now.
This one gets challenging for all none Chinese speaking persons. The website is, right now, all chinese. There is not yet an option to switch language.
ATTENTION: If you are using the translation feature of your browser, the order function will not work properly! Switch back to Chinese to place orders.
Exchange Type: Decentralized Exchange
Min. Order: No
The usability of the site is a great disaster as of today, to cancel an order you will have to go to the sell command and select the token and quantity and then select “take back”. There is a lot of potential here.
I placed some orders there, actually I also sold some BT tokens which worked fine.
For those of you that hold some tokens that are not traded anywhere else, this might be an option. Once you understand the logic, you can work with it but it is far away from the big competitors, yet.
Watch out though, volumes are very low, prices can be 10x actual value!
This is an affiliate model, the creators of FINDEX are not operating the exchange themselves, they are offering it to companies to integrate it into their applications.
The first one that integrated FINDEX as of now is Meetone, actually along with Newdex offering two exchanges within the meetone app! You now have your EOS exchanges in the pocket which is a further big step!
Exchange Type: Decentralized Exchange
Min. Order: not tested
Fee: No (though business model implies that there will be fees)
The integration is very nice, the meetone account is displayed seamless with all token balances. Ordering is easy to do and confirmed with the meetone app password. The order screen is state of the art, too.
There is currently no English version available though. If you are used to other exchanges, this is no issue since the elements and interface look like many exchanges, too.
Pre-requisite for using Findex is obviously a MeetOne app that holds your private keys. As long as you are confident with it you can easily setup the app. Watch out though, trading volumes are also extremely low right now, be very careful and validate prices with other exchanges!
This looks like a good start, same as Newdex. Meetone is leading the way here!
I hope you like this indeed very long post. There is a lot happening in EOS exchange world and I have some more candidates to look at waiting.
The experiences I am making with Newdex, DEXEOS and also SouthEX are very good so far. Trades mostly run smooth and I luckily had no real bad experiences myself. Still be careful though, all are pretty new and there are of course risks.
If you are aware of any further exchange not yet covered in my series, please comment below. I am more than happy to take a look and include it in an upcomming post.