WAVE Exchange

Key facts about the new crypto currency exchange

The purpose of this article is, to give an overview of the key points of the WAVE Exchange at the current stage and further developments.

What is Wave Exchange?

With the launch of the WAVE Exchange on 15.04.2020, many WAVE users had high expectations and there was a lot of excitement about how the new exchange would work in practice. WAVE is confident that the expectations of the users have been more than fulfilled after the first 2 months and the next developments of the platform are already in full swing.

With the development of the WAVE Mainnet, in other words Wave’s own Blockchain, the next step will be to restructure wave.exchange into a decentralised trading platform. This is a huge step and with it’s implementation the WAVE team aims to support additional crypto currency trading pairs, stable coins and in the next step also Fiat currencies. WAVE’s aspiration is to become a major liquidity and trading centre for both crypto-enthusiasts and traditional traders alike.

To date, over 1000+ BTC worth of transactions have taken place on WAVE exchange with fees per trade as low as less than half of a percent.

What are trading pairs?

Trading pairs are simply the two currencies that are being exchanged.

Typically, this might represent a traditional fiat currency like Euro to Bitcoin (BTC) or a cryptocurrency to cryptocurrency exchange like WAVE (WAE) to Bitcoin (BTC).

Over time, exchanges add more and more trading pairs.

Orders explained:

There are two major types of trade that can take place when you’re looking to buy or sell your assets and the type of order you place will determine the price you will pay or be paid.

• Market order — this is the fastest way to get both in and out of investing. It is also the most risky, because it means selling or buying your chosen asset at the current market price. This is especially risky with cryptocurrencies, which are hugely volatile and vary wildly in price. You should consider this type of order when speed is more important than price. Whilst a market order has a much higher chance of being executed, there are no guarantees.
• Limit order — this type of order allows you to set a maximum price for which you will buy and a minimum price for which you will sell, and is the clear choice for seasoned investors. You should choose this type of order if you are selling a high volume and are confident that not only will your asset reach the desired price but that it will be possible to find and secure a buyer.

Why use a decentralized exchange?

Vastly improved security and the seamless user experience you would expect from a centralized exchange.

• Boosted liquidity — it’s extremely easy to sell once you have bought.
• Speed & Stability — as the exchange owns its own gateways it is not relying on any other parties and can ensure fast and stable transactions.
• Higher interest rates — protocols use the liquidity pool to automatically set high interest rates
• Anonymity — you will not be identified in any of your transactions.
• Transparency — you can independently audit your transactions on the blockchain if you want to.
• 0 documentation — no documentation is needed
• 0 fees — WAVE Exchange will take a small commission per transaction, but everything else will always be free.
• Control — only you have access to your account, which is called a Seed.

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