Review on CHAOEX by Alex Martakov
CHAOEX Hong Kong exchange held an event for the first time with potential…
CHAOEX Hong Kong exchange held an event for the first time with potential users in Russia, thus opening the way to the Asia-Pacific region. On September 2, the Hong Kong exchange CHAOEX held its first meeting in Ulan–Ude (Russia), meeting with local crypto-enthusiasts, traders and investors.
CHAOEX exchange was established in 2017. Initially, the platform, created by the Chinese team, was aimed at users in China, but in 2017, a new state law 9.4 on the prohibition of cryptocurrency on the mainland of China came into force, which hampered the development of business and contributed to the company's move to Hong Kong. Despite the ban on cryptocurrencies from the state, the Chinese digital market remains very large. In addition, knowing the Chinese market, the company has the natural advantages of access to continental users, attracting more than 30,000 users per year. However, after the entry into force of policy 9.4, the CHAOEX team began to set more global goals, outlining a plan for business expansion. The first step is the Asia-Pacific region and Russia. It is obvious that doing business in Russia depends on the policy of the state in relation to digital currencies. Fortunately, the Russian government is very supportive and even supports the digital market, providing benefits for electricity, hardware, supports the opening of technoparks, providing services for those support 24/7.
Pros
- This exchange of electronic money has many public tools for trading. Its owners have created their own trading platform, with its own characteristics and advantages. To register, download the necessary documentation and manuals, you must visit the official website of this cryptocurrency exchange For those who are not strong in English, this platform is not too suitable, as there is only an English version, as well as in Chinese. It should be said that if a person is already an experienced trader, it will not be difficult to deal with all the rules of trade. The registration procedure is not different from other exchange resources. Initially you need to enter the email address with the password, and then the Inbox will receive a email with a special link that you need to go, to confirm the intention to make a cryptocurrency trading. Next, you will need to enter the phone number with which two-factor authentication will be carried out, which actually deprives attackers of hacking the trader's account. However, after that, there is an unpleasant moment: ChaoEX provides for verification of identity, and accordingly enter your name and registration data. This fact actually crosses out the main provisions of the crypto currency, which clearly States that confidentiality is the priority of electronic currency.
Cons
- The main drawback is that it requires verification of identity. Also, the terminal itself does not provide any assistants who are able to carry out trading when setting certain parameters, which means that the user actually has to constantly have a running terminal in front of him in order to close or open an order in time.
