Review on CPDAX by İlqar Agayev
My thoughts about CPDAX
Hello there. The review I will write today will be about CPDAX. CPDAX is a South Korean crypto exchange and launched in 2018. The purpose of the exchange's creation was to create a safe and comfortable environment for South Korea's indigenous residents and enable them to comfortably trade cryptocurrencies. Therefore, the stock market creators thought that the launch of CPDAX would be met with great interest by people. But on the contrary, the stock market was received positively by very few people and therefore the customer base was very small. I think it's because South Korea has bigger and more experienced exchanges.
Although CPDAX wanted to use a different way instead of using the experience of other exchanges, it failed and stopped its transaction with an official announcement only a year later. The stock exchange is no longer operational, but its official website is still active. This can be a fraudulent method, so I advise you not to invest your assets in this exchange. With only 7 trading pairs at the time of its operation, CPDAX's daily trading volume was also well below the average. In addition, the fact that the official website and mobile application of the exchange is only in Korean, it was a big obstacle for people from other countries to make transactions on this exchange. CPDAX went bankrupt and closed as a result of the economic and financial crisis, so that's my review, but if there is any innovation, I'll let you know.
Pros
- I don't think it has a good side
Cons
- It has suffered a great failure
- Couldn't compete with other major stock exchanges in the country and therefore operated for a very short time
- The exchange's website is still active, so be careful as you can be scammed
