DX.Exchange Partners with CoolBitX Wallet to Enable Direct, Safe Fund Transfers
The CoolBitx company is a hardware manufacturer for crypto-wallets. The partnership has been put in place to allow the various users to transfer their funds from the trading platform safely and efficiently to their wallet.
The announcement was made on Wednesday, and according to it, the hardware wallet will be able to support the various crypto coins that are offered on the exchange platform. But this is no all as they will also be able to support the STO, Security Token Offerings.
CoolBitx has been in the market for a couple of months as it was launched back in 2018, it was launched as a mobile hardware wallet that can support several digital assets. It is the likes of Ethereum, Bitcoin, XRP, Litecoin, Bitcoin Cash, and many more.
They have Gone Ahead to Launch the Leverage Crypto tokens on the Ethereum
DX.Exchange is an Estonia based digital asset exchange and part of the big moves they have been making is the recent announcement.
They have just announced the launch of the SLTs; this is the Smart Leverage Tokens. It has been designed as a new kind of finical instrument that will allow for secure margin trades that can be done on the Ethereum platform.
The company made this announcement in their official statement and has been considered to be the very first SLTs that has been listed on the exchange. They have even referred to it as the Turbo Tokens, which is expected to pair with the Tether Dollars USDT, together with the DXCASH, which is the native token on the DX. Exchange platform. It will be against popular tokens like Ethereum, Bitcoin, Binance Token, and many more.
With the Move, they Hope for more Interactions in the Market
The company is hoping with the introduction of the SLTs it would allow the various investors in the market to interact with the crypto space easily.
All this is happening without exposure to any undue risk. As of now, the company has ensured that users will be able to go either short or long on serval crypto coins in the market. It is the likes of Ether, Bitcoin, Binance, XRP, to name a few.
There are Fewer Risks
With the investors owning their leverage, there should be fewer risks that are being faced. As the STL traders will not be borrowing from the exchange, instead the platform has made it possible for them to own their leverage.
Thus, as an STL trader, you will not incur any additional overnight interest; as a result, you will not face as much risk as compared to the average margin of trade.
But this is not all, the Turbo Tokens have been designed with a compounding mechanism that will be able to prevent the value of your asset reach level zero. What this means is that you will not face more risk than the loss of your original investment. And to make matters better for you, you can store these tokens in an ERC20 wallet.