5 Things that make NEXT.exchange special.
Over the course of our progress and development path, we have managed to bring together a close-knit community of believers in our project, and deliver a truly amazing product given certain constraints. We believe that we can breathe a breath of fresh air into the digital asset sphere, if not change the game as we know it.
Fiat trading support.
Our platform enables users to trade cryptocurrencies directly against fiat currencies. What this means is that tokens and coins on our platform are paired directly with fiat currencies, in addition to Bitcoin, Ethereum, and our protocol token, NEXT (explored below).
Sure, we are most certainly headed towards a digital monetary system, with Bitcoin probably spearheading a new money revolution and acting as a universal currency, but, new market entrants need a more natural way of acquainting themselves with the sector and digital money.
Fiat currencies provided by us:
Users get to enjoy Skrill, Stripe, iDEAL, PayPal, Bank Transfer.
PayPal will only be made available to users that reach our highest (3rd) verification tier. PayPal requires a full 3D customer KYC, in order for our platform to receive full buyer and seller protection, we are required to move PayPal functionality and make it available for users who pass our highest (3rd) verification tier.
Our unique token.
Our platforms native token, NEXT, is required in order to gain access to a lot great features and functionality.
- Priority access to trade newly listed assets (up to two weeks).
- Reduced trading fees (up to 50%).
- Profit Sharing (NEXT holders are entitled to our platforms profits which are derived from acquired revenue minus necessary operating costs).
- The ability to trade cryptocurrencies against fiats such as USD, EUR, RUB, GBP, YEN, CHF, TRY.
- Access to cloud mining (a feature planned on our roadmap and development path).
- Staking on the NEXT.Chain (details coming soon, own chain to be deployed in late 2018 or early 2019).
Individual Blockchain wallets for each user.
Indeed, our platform provides each trader with his or her own individual Blockchain wallet address. We saw large and central exchange wallets as a big issue in the modern day crypto trading sphere. Such systems carry ample liabilities and such big wallets act as prime targets for bad actors.
Thus, we decided to design our platforms architecture in such a way that every user has their individual Blockchain wallet generated immediately upon registering on our trading platform. Keys are encrypted using the SHA-256 method and stored in a database. The foundation on which our trading platform is constructed requires a solid and deep understanding of various Blockchain elements and the proper execution of said elements without the need to rely on third-party interference. The route of providing individual Blockchain addresses also complicates things
By taking this route, we can enhance our platform security and overall user experience. However, despite this, we, of course, recommend users to employ strong passwords and take advantage of Two-Factor-Authentication. For which we are using both Google Authenticator and Authy. Take your pick.
As a final note on individual wallets, we will allow users to export their private keys once we transition to our own Blockchain. More on that below.
Transition to our own Blockchain.
We’ve had it within our plans to transition onto our own Blockchain for more flexibility and power. That’s expected to happen during early 2019, most likely. So, our token will be splitting off from the Ethereum Blockchain (ERC20) and be hosted as an asset on our chain. Below are some features we hope to attain with the migration.
Bitcoin core blockchain, but extended with:
- POW/POS combination.
- Assets (ERC20 token like).
- High capacity (up to 100,000 tx/sec).
- Desktop, mobile, and paper wallet.
- Own Block explorer.
- Paired with all cryptocurrencies on our platform.
- Liquidity to fiat (USD/EUR/CHF/GBP/RUB/YEN/TYR).
- Own Payment application and cryptocurrency card.
- Connection with e-commerce shops and payment terminals.
Legal Standing and Structure.
We are currently registered as a public company in the Netherlands and as an Ltd. in England and Wales.
In addition to this, we plan on branching out to the United States as a LLC and establishing a trust foundation that will handle incoming and outgoing fiat operations.
Together with our head of legal, Rob Van Dijk (approved by the highest court in the Netherlands), legal team, and advisors, we are taking all of the measures in order to operate as a regulatory compliant hybrid exchange platform, and maintain appropriate KYC/AML laws