Review on Daybit Exchange by Stephen Toluwani
Torn between trust and despair, I think Daybit exchange can still be used
The Daybit exchange is a centralised exchange located currently in South Korea. According to data from coingecko the exchanged appears to still have some trade volume going on up to the tune of 1.69 BTC. Checking in with CoinMarketCap, the story there is different as the exchange is not even made available or visible on the platform and this is most probably due to the issue the exchange had with binance when it claimed a partnership that never existed. The history of a faked partnership is enough to take people out of this exchange but it seems it is slowly trying to reclaim its name.
The exchange has relatively low fees for trading, just 0.1% and also has its utility token called DAY which is a story for another day. from the outlook of the platform trading view outside the exchange platform itself, the exchange has a nice user interface that can be easy to access and operate with. do the crypto pairs available might not be the taste of many investors or traders as their major appeared to the KRW with little volume to attend to it. I tried severally to access the platform but was denied as the page could not load up correctly. Its mobile application however works perfectly.
Taken from the history it has with binance, the reliability of trustworthiness one can get recent change in my view can be regarded as low. But with the product that it offers, it will still be a good exchange in the short run as it is being regulated in Korea. With that ending notes, this exchange can be used
Pros
- The exchange still appears to be operational but I cannot really say as its web page just keeps unloading without going further
- Very low trading fees of 0.1% is associated with this exchange
Cons
- The indications of a scam by the project when it claimed a partnership with binance that reduced its reliability
- Very low number of crypto pairs are available and a very low trading volume too comes in on coingecko
- The exchange doesn't appears to be listed on CoinMarketCap probably due to the issue it had with Binance
