NEXT.exchange is Coming: What you Need to Know
NEXT.exchange, a hybrid exchange platform is about to hit the cryptomarket scene in an impactful way, and Coindiary has got you covered.
What is NEXT.exchange?
NEXT.exchange is a hybrid exchange based in the Netherlands that provides its users with the ability to trade over one hundred cryptocurrencies directly against fiat currencies. Besides this, every trader is provided with a unique wallet address for each asset, securing assets by the power of the Blockchain.
The team behind NEXT.exchange simplifies the adoption process of cryptocurrencies the world over by allowing their users to trade over 100 digital assets paired with the United States Dollar and Euro, in addition to industry standard pairings such as Bitcoin and Ethereum. It is also within their plans to provide access to Russian Rubles, British Pounds, Chinese Yen, Swiss Francs, and the Turkish Lira. In order to trade cryptocurrencies against fiats, users are simply required to pass standard Know Your Customer (KYC) procedures and hold a small balance of NEXT tokens, which can be obtained directly on NEXT.exchange as well as IDEX.
The cryptocurrency market will undoubtedly prosper if it becomes easier for new people to enter it via a fiat gateway. Finally, altcoins will have a chance to thrive without being entirely dependent on bitcoins volatility.
Additionally, NEXT.exchange provides its traders with individual Blockchain wallet addresses. Meaning, there is no big wallet holding the entirety of user funds that are managed by the exchange, as seen with traditional exchanges. A central wallet is precisely what makes exchanges especially vulnerable and has left many user wallets empty in the short history of cryptocurrencies. We definitely can’t forget the debacle that was Mt.Gox What this means for NEXT.exchange users is that transactions are executed directly on their respective Blockchains, peer-to-peer, based on Satoshi Nakamoto original intentions.
On top of this, NEXT.exchange is registered as a public company in the Netherlands and as an Ltd. in England and Wales. With future plans of branching out as a LLC to the United States and establishing a trust in Holland to take care of fiat operations. NEXT.exchange also plans on reviving its ERC20 token market (Peer to Peer trading of Ethereum based tokens) and deploying their own Blockchain in the first half of 2019.
Now, let’s dive into the…
The platform has its own token, NEXT, which grants access to a variety of nifty features.
Currently, users need at least 100 NEXT to:
- Trade cryptos against fiat currencies
- Receive profit sharing from trading
- Receive decreased transaction fees
- Gain priority access to trade new coins that NEXT.exchange lists
- Few other interesting things that are in the pipeline for 2019
The most attractive aspects for traders must be the fiat pairings and unique profit sharing system NEXT.exchange provides. The platform will collect listing and trading fees, once necessary operating costs are covered, the remainder of revenue will be split over tokenholders and distributed in ETH, with audits to be publicly provided via the platforms Investor Relations portal.
NEXT.exchange is currently being beta tested by its loyal community and will be going live by the end of the year. Based on recent news from the platforms Telegram news channel, there’s a lot planned and the future of the exchange is bright.
Despite NEXT.exchange going under the radar for quite some time, we believe that it has a sure shot at becoming a pretty popular exchange platform in the near future. If you want to stay as up to date as possible with the development of NEXT, check out their Telegram chat and subscribe to their new Twitter.