Review on Chiliz by Stephen Toluwani
The Fan token and entertainment exchange built with faults
Chiliz debuts itself as an entertainment exchange platform built for trading of fan tokens. This fan tokens are very crucial in making votes on Popular football clubs which makes Chiliz a required platform of exchange. I like the UI, though very basic with no advancements like many other main exchange, they still do the job perfectly. The pairs on this exchange is not that much as I have seen, even the tokens on the platform, (being that they are mainly focused on fan tokens) are very limited yet they boost of a very huge trading volume recorded on a daily basis. The exchange is pretty much legit to use with KYC being a requirement for the exchange to comply with rules of its host country. You have no reason to worry with the use of this exchange. As for security, I don't know of how strong the platform is on its security stance. There is no indication of an insurance fund as the security system for users is the very much basic secret phrase and 2FA. Fees are one thing that makes the exchange quite expensive to use though traders with large volumes do get a cut back. I don't see much utility for it's CHZ token Like fees reduction. There is a lot the exchange needs to be able to improve but it's basic service fits very well the every need of a trader interested in the area of Fan tokens
Pros
- The exchange allows for the purchase of fan tokens which are representation of voting power in a football team making the exchange crucial to the exchange of voting power in ones favorite team
- The platform has a simple UI, not too advanced but does the job okay
- 0 fees on trading CHZ pairs for the buyers
- Android and IOS mobile apps just recently got released as more updates keeps rolling out for the exchange
Cons
- Fees are quite high for withdrawals and even trading fees for some pairs, including CHZ (for the sellers) are high
- There is no Telegram community group for the exchange. The one they had got deleted and they haven't done anything to resuscitate it
