Koinex Express — enabling lightning-fast crypto conversions
Speed is the name of the game!
With more and more technology inclusion in our lives, we have become accustomed to a certain threshold of execution speed. Whether ordering stuff online or making a payment for an online subscription, we have a pleasant experience — saving time and effort without compromising on robustness, authenticity and security. To bring the same gratification to the activity of digital assets trading, we are proud to introduce Koinex Express: an instant converter that swaps cryptocurrencies in one single step.
This is the first product from our #KoinexUnfolds campaign, where we release 3 new products in 3 days back-to-back, starting today. The products are based on something we call the Delta Framework, a product-market methodology to develop solutions for our users covering the spheres of digital assets, core blockchain and the community. Express is our addition to the complete connected trading ecosystem (Koinex, Loop and Express) delivering a set of advanced tools needed to trade efficiently and profitably.
Overcoming hurdles
There are several hurdles for investors and traders in India who wish to diversify their holdings from traditional assets to digital assets. After tons of conversations with our associate traders, users and industry experts, we identified what those hurdles are and we set out to build missing pieces of one connected ecosystem under the Koinex banner. That’s how Express was born.
The nascent crypto community is currently dealing with a few trading complications. Lack of liquidity on low capitalisation coins, long deposit and withdrawal processing timings, switching between multiple ecosystems for better rates, numerous steps for conversions, layers of trading fees and conversion charges sum up the current limitations of this domain.
Express solves these by providing interchangeability, high-liquidity and quick switching. It will have 200+ trading pairs and all conversions are almost instantaneous. All you need to do is enter the base cryptocurrency (which you want to convert) and the destination cryptocurrency (which you want to convert the base into). Check the rates, confirm and swap! It’s a one-step simple process.
A boost for the trading community
To make trading expeditious, we decided to cut out the block confirmation timings. We are pushing for rapid conversions with 0% trading charges. This was achieved by incorporating Express into the Koinex ecosystem, making it an extension of what our exchange and Loop provide. It is a step towards simplifying trading and leveraging our resources for faster conversions. End result? A product that’s really quick and smooth.
Under the hood, Express is a highly concurrent service. It interacts with multiple international exchanges at once. It has an inbuilt analytical engine which analyses the best prices for swaps in real-time. The architecture of Express is I/O intensive and is built using GO programming languages’ lightweight routines in order to multiplex the communication across various exchanges seamlessly.
Express for pros and novices
With the launch of Express, we have all geared up for a faster ecosystem. No withdrawal and deposit queues. No trading fees. Just a quick switch! Be it a professional trader or a beginner, Express is designed to fit just right for all kinds of traders. These few bullet points will help you understand the ways to use Express:
Arbitrage: Express acts as a bridge to purchase digital assets at low international rates and sell the same at higher rates.
Gains: Express provides access to the best rates across international exchanges with a hassle-free instant conversion.
One Ecosystem: Express is integrated into the Koinex ecosystem. One can easily trade in INR/TUSD market or convert crypto to fiat through our INR P2P mechanism and Loop exchange model.
The digital assets of our users are maintained in their Koin Wallets guarded by our in-door security. In all the transactions, the funds are secured and protected under our aegis. Express adds value to the “hodling” and intra-day trading communities of India. It is the sole provider of digital asset swaps, with an option to convert them into INR through P2P.
#SwitchItWithExpress
With Koinex innovating FinTech solutions, this is just the start. There’s a lot more to invent, innovate, and decentralise.
Express is a part of the Koinex ecosystem, it can be accessed through desktops or mobile browsers. All Koinex users can utilise Express for switching over 200+ trading pairs!
Please feel free to explore Express at -www.koinex.in/express or contact our support team for assistance. In the coming days, we will reach out to you for feedback, incorporate into our products and continue to #BUIDL.
