Alttradex, found online at Alttradex.com, is a cryptocurrency exchange that’s currently going through its ICO. Find out more about the platform today in our review.
What Is Alttradex?
Alttradex is a cryptocurrency exchange that promises to offer professional grade trading, 24/7 trading, and 1 million transactions per second.
The platform’s ICO launches on October 25, 2017.
Overall, Alttradex emphasizes transparency, security, and regulation. The platform was “built by traders for traders and with upcoming regulation in mind,” explains the official website. The goal of Alttradex is to “become the go to platform for both the professional and the amateur cryptocurrency trader looking for liquidity.”
The developers hope to launch the full-featured version of Alttradex by Q1 2018.
Alttradex, when it’s launched, aims to offer all of the following core features:
Transparency: Alttradex will have a 24/7 support structure to “ensure traders are aware of all ongoing and that all queries will be answered quickly,” explains the official website.
Security: Alttradex has “partnered with the top crypto security professionals” to bring enterprise-grade security to the platform.
Usability: Alttradex will have entry orders, trailing stop losses, MACD, Fibonacci, and all other trading tools and signals traders need.
24/7 Trading: Like most cryptocurrency exchanges, Alttradex will allow traders to trade digital currencies around the clock.
1 Million Transactions Per Second: Alttradex’s trading engine will offer 1 million transactions per second, which is similar to other cryptocurrency exchanges (although it’s still very good).
Multi-Currency Support: Alttradex aims to support all major cryptocurrency from the first day. Fiat currencies will be introduced sometime after launch. All coins added to the platform will go through a “rigorous audit process” to ensure “both our users and our reputation is protected by only introducing the best products on our platform.” Alttradex also aims to create a dedicated team that will visit upcoming ICOs, then partner with strong startups to provide liquidity.
Overall, Alttradex’s features are similar to what we see with other digital currency exchanges. That’s not necessarily a bad thing. The developers promise to emphasize transparency and security more than other digital currency exchange. The goal is to compete with medium-sized exchanges within 12 months, then compete with larger exchanges within 36 months. Within 60 months (5 years), the exchange wants to be the largest cryptocurrency exchange in the world.
Another differentiating feature is that Alttradex claims to be “in the latter stages of talks to be the first cryptocurrency exchange platform to operate under a traditional financial exchange license.”
The Alttradex Token Sale
The Alttradex ICO is scheduled for October 25 to December 5. This will be the only issuance of ATXT tokens. No further crowdsales will take place.
The tokens are issued at a price of 1 ATXT = $0.25 USD. There’s a hard cap of $25 million, with a total supply of 142,857,143 tokens.
Token holders receive quarterly payouts from the exchange. The platform charges a 0.15% to 0.25% fee on trades (maker/taker). 60% of these transaction fees will be distributed to users as commission. 40% of the revenue will be retained and reinvested into the platform. It will be used to fund ongoing marketing campaigns and development.
5% of tokens will be held in a special wallet. Revenues from these tokens will be used to buy back and burn tokens regularly.
The ATXT tokens are ERC20 compliant tokens issued on the Ethereum blockchain.
Who’s Behind Alttradex?
Alttradex is led by James Fogden (CEO), a former investment manager and financial trader who has been involved with cryptocurrencies since 2013. Other key members of the team include Aleksej Klebanskij (CTO), Reece Milligan (COO), and Bernard Van Der Woude (President, Head of Exchange)
Alttradex aims to create a cryptocurrency exchange that emphasizes security and transparency. The team doesn’t seem to have a platform publicly available to users. However, they plan to launch their full trading platform in January 2018.
Alttradex also wants to operate under a traditional financial exchange license. They claim to be in the latter stages of talks regarding that licensing. You can view the whitepaper for Alttradex here. It’s a 9 page document that doesn’t go into much technical detail about the exchange and how it will work. It’s just a basic overview of the goals of the company and projected revenue.
The Alttradex ICO begins on October 25. To learn more about the platform, visit online today at Alttradex.com.