When Bitcoin was first created, Satoshi Nakamoto designed the protocol to work without a third-party intermediary. This was done because for as long as there has been a third-party involved, the destructive nature of greed has resulted in the misuse of money time and time again.
Central bankers historically debase the monetary supply, while financial institutions use customer funds to gamble, leaving their customer’s to foot the bill when the company goes belly up. History has repeated once again in the cryptocurrency industry, where the decisions of so-called “trusted” intermediaries end up harming users and the community as a whole.
The only solution is to maintain complete control over private keys and, therefore, self-custody your crypto assets. This leaves one challenge, however: how does one continue to trade without a trusted third party to trade with? The answer is in decentralized cryptocurrency technology all along.
The next wave of top cryptocurrency trading platforms will be decentralized, just as the original vision for crypto was meant to be. A new decentralized platform called eXFi is paving the way for this new trend to take off – here is why eXFi is the next big thing in the crypto industry.
What Is A Decentralized Trading Platform?
With a centralized cryptocurrency exchange, users must deposit cryptocurrencies to a hot wallet that the exchange controls. A hot wallet is a wallet that is always connected to the internet. This exposes users to all kinds of counterparty risks.
The platform could go under, as we’ve seen time and time again. Customer funds could be used inappropriately for failed business ventures. Hot wallets also leave customer assets exposed to hacks and other security issues. Not to mention that the IRS or another entity could force the platform to freeze your funds.
With a decentralized trading platform like eXFi, there is no sign-up, no user account, and no KYC, and the user retains control over their private keys and crypto assets at all times. Decentralized trading is much more private, secure, and the most important trend to hit crypto in some time.
Using a decentralized trading platform like eXFi involves establishing a connection between the platform and a MetaMask Web3 wallet that the user owns and controls. The wallet must contain ERC-20 compatible tokens, such as USDC, USDT, DAI, WBTC, and more. MetaMask is the most popular Web3 wallet, with more than 30 million monthly active users and growing.
Everything You Need To Know About eXFi
eXFi is a decentralized cryptocurrency trading platform offering up to 100x leverage on popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Solana, Cardano, and more. Unlike centralized platforms, eXFi gives users complete control over crypto assets by connecting with the MetaMask Web3 wallet.
The platform provides access to long and short positions through perpetual swaps, risk management tools, deep liquidity, built-in charting software, and much more. Users can get started fast with a quick start guide or learn more about the platform’s features in the help center. There is also a support chat module for any problems or questions.
eXFi utilizes a Layer 2 Ethereum Scaling Solution allowing for lightning-fast order fulfilment without ever overspending on ETH gas fees. The user-friendly interface compares with the most popular centralized exchanges but without all of the counterparty risks that comes with working with third parties.
The eXFi referral program lets users earn up to 40% commissions on any new users referred to the platform. Simply promote eXFi as a decentralized alternative to top trading platforms among social circles, friends, and family and potentially grow your income through referrals.
Trading With eXFi
The future of finance is decentralized, and the recent collapse of top centralized cryptocurrency exchanges and companies shows the importance of cutting out the middle-man whenever possible. Because crypto users are still keen to trade and earn money from their assets, they are often stuck in the middle of choosing to put assets at risk with a centralized platform.
Trade with a secure decentralized platform like eXFi and maintain strict control over your private keys and crypto. To learn more about the eXFI decentralized trading platform, please visit the official website, or check out the company on Twitter, Discord, or Telegram.