The WCX Token sale has already began, so we take a look at exactly what you get for your Bitcoin, Ethereum, Litecoin or Dash.
To start lets take a quick look at what WCX are developing with the money raised from this ICO. According to their Whitepaper their purpose is to:
To become the largest (and most loved) digital currency exchange in the world.
Fair enough, if your going to attempt something it’s always best to aim for the top, so lets see what they are offering:
Tiny fees for everyone.
WCX offers an enviable cost advantage. Just 0.1% net per transaction, and you get paid, not charged a fee, if you’re a maker. WCX was built differently from the ground up to make sure we stay focused on keeping your costs low.
The less you pay, the more you keep. Over time, more money stays in your pocket.
Paying less fee’s is a major incentive to use any exchange, if your profit margin can be increased by switching to a new platform then most will do so assuming it is secure and reliable.
Streamlined design. Advanced engineering. Robust features. The ultimate form and function: WCX puts everything you need to trade inside one simple and intuitive dashboard.
WCX’s trading dashboard is engineered for stability and filled with all-new technologies that take power and performance to a whole new level – all while feeling instantly familiar.
The interface is fast, fluid, and easy-to-use, designed to work across devices with remarkable fidelity. It makes trading on WCX a breeze.
Highly-performant charts that cater to both beginner and advanced traders can be customized with over 300 indicators.
At launch, WCX will support trading for BTC, ETH, XRP, LTC, XMR, and USDT, with more products and markets planned post-launch.
Initially offered trading pairs are a good selection, if a little sparse though – but as they say more products and markets are planned post-launch.
1 million transactions per second.
There’s a reason we call WCX’s trading engine “The Juggernaut”. It can process up to 1 million transactions per second without blinking an eye.
Existing digital currency exchanges can sustain up to 50K transactions per second. At 1 million per second, WCX is an entirely different creature, balancing flexibility and power at lightning speed.
This is an impressive transaction time if it is indeed a true claim, this is around 20x higher than the industry standard which to any one requiring high speed trading abilities will be a game changer.
WCX’s trading engine supports more than your average order types. Easily submit market, limit, stop, trailing stop, and block orders that work exactly as you expect – with unmatched execution speed.
It’s built on the same technology that drives the largest stock exchanges in the world. It all takes place behind the scenes, but you’ll feel the difference in so many ways.
So whether you’re a pro who’s been trading for years or someone who’s just getting started, you’ll soon be able to trade digital currencies at maximum velocity with minimal lag.
Their API is also developed to be robust and fast allowing users to connect directly to WCX’s trading engine via REST, Websocket or FIX:
Our API: robust, simple, powerful. Connect directly to WCX’s trading engine through REST, WebSocket, or FIX, and you’re ready to start trading. Get all the data you want and need to run your trading programs, at your fingertips.
Plans To Decentralize by 2019
This is one of the biggest incentives to support the WCX exchange, decentralisation of all customers wallets by the third quarter of 2018 is in their roadmap. A successful, responsive decentralised cryptocurrency exchange is much needed in the space, if this can be achieved with a large customer base then WCX could end up being the most used digital exchange platform on the market.
As with many of the new ICO’s on the market there is a huge incentive to hold tokens rather than sell them off.
20% of all revenue generated by WCX is automatically paid out to token holders, in amounts based on each holder’s share of the total amount of tokens.
As an exchange, WCX collects fees in many digital currencies – which means that WCXT holders are paid in many different digital currencies. Holding WCXT is hence equivalent to holding a passive income portfolio of diverse digital currencies.
Payments will be made on a monthly basis. To receive payment, you can either keep your WCXT in your WCX wallet on the exchange or in an ERC20 compatible address that you securely link to your WCX wallet.
Your monthly payment equals 20% of the fee revenue made by WCX over the past 30 days, multiplied by the amount of WCXT you own at the time of payment, divided by the total amount of WCXT. Payment dates for each year will be available in advance on the WCX site.
Monthly Payment = ( 20% x WCX Last Month Revenue x Tokens You Own ) / Total Tokens
WCXT is an ERC20 token issued on the Ethereum blockchain.
So holding WCXT tokens will result in monthly rewards of various digital currencies, how much will obviously be determined by how many tokens you hold and how many transactions the exchange takes in that month.
Obviously anyone can publish a whitepaper, make some big promises and ask for lots of your money to make it all happen – so seeing a product, or at least the beginnings of a product is always a good reassurance that the project is serious. Fortunately, WCX has now got there beta program online for a limited audience.
As of yet I have seen no other screenshots other than the one in the Tweet above and with such a limited audience being selected for the beta program it’s unlikely you’ll know anyone who has access. I have signed up for the Beta program but have yet to be given a pass, we’ll keep you posted if and when we get access.
All is looking pretty promising and some users on twitter are claiming to have used the service, but of course until access becomes more widespread we should always remain cautious.
So as with anything in the ICO market there are zero guarantees that your investment will be worth anything in the future, you have to accept when investing that your investment however large or small it maybe, could potentially be lost and to never return. So please never invest more than you can afford to loose, this is crucial.
Firstly, if you want 50 tokens for FREE, then just registering will reward you with 50 WCXT, furthermore if you refer others you can earn more tokens. Currently tokens are valued at 10 WCXT = 1 USD. Bonuses are in place for those taking part in the ICO, the more you spend the bigger the bonus.
One thing to consider here is how much these tokens realistically will trade on the open market, bearing in mind that they represent the competition for all other exchanges, are we really likely to see them listed anywhere accept at WCX’s own exchange?
If your investing in this ICO, it has to be because your placing faith in the platform they are launching and it’s success, think of the tokens as merely shares in a new business. The passive income which could follow if the exchange is a booming success is worth a small risk alone, but as I state it is all a risk.
I personally have a invested a very small amount in this ICO just to see how it performs and report back next year on the state of my initial investment.
For those wanting to learn more and read the whitepaper for themselves visit their website and sign up today.
Disclaimer: Statements contained within this post do not represent the views or policies of anyone other than the writer. The information contained within this article is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.