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Ripple (XRP) Serves as Base Currency for new Decentralized Crypto Exchange

In San Francisco Ripple (XRP) technology based decentralized Crypto Exchange has been launched. According to the press release issued on 3oth July, this new crypto marketplace (DCEX) is now open for retail and institutional accounts to register themselves with DCEX.

DCEX runs on the latest technology which is developed by AlphaPoint (a Blockchain firm) with Ripple serving as the base trading cryptocurrency. Initially, DCEX will offer 15 different cryptocurrency -to- cryptocurrency pairs for trading which comprise of  Bitcoin (BTC), Litecoin (LTC),  Ethereum (ETH),  BitcoinCash (BCH),  EOS (EOS),  IOTA (MIOTA), ZCash (ZEC) and several others. Besides the listed 15 cryptocurrencies, DCEX aims to rope in several other altcoins in future like Cardano and NEO.

Bloomberg Galaxy Crypto Index (BGCI) is deemed as “institutional benchmark” for crypto market and track “topmost liquid crypto assets”; these assets will also be available at Decentralized Crypto Exchange and this will be extremely helpful for investors as they’ll get all at one place.

DCEX on using Ripple (XRP) as the base currency, states that this will aid users in “high-speed transfers” and this swift transfer will eventually benefit investors as they will take benefit from the inadequate prices for their currency pairs at other exchanges.

Decentralized crypto exchange makes tall claims about their network in their latest press release and asserts that their marketplace has the efficiency to facilitate around one million transactions per second. Moreover, participants will be assisted to connect to APIs, this will make margin trade and high-frequency crypto trading strategies possible for them.

As per reports, DCEX is registered with FINCEN and to comply with the conditions of regulatory agencies and U.S. Securities and Exchange Commission, it is yet to take essential measures and to become a law-abiding and regulated operator.

According to an analysis of a Cointelegraph, decentralized crypto exchanges (DEXs) are making their mark in the cryptosphere primarily because of their ideology while vulnerability of centralized platforms and the threats attached to them also playing its part.

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