Review on DragonEX by Temitope Babatunde
Information About DragonEx Exchange
DragonEx is one of the centralized exchange we have in crypto market . Launched in November of 2017 in Thailand, the exchange is doing fine and is legit. But very little things is known about its team which makes many people to beskeptical about them.
The exchange has a token that was based on ethereum smart contract the name is DT. It has so many functions within the DragonEx ecosystem, the token gives privilege of receiving dividend daily, participating in vote and also it is being used for super lotto.
In 2018 the exchange open an academy, the aim was toto help all newbies to acquire all necessary information about cryptocurrencies and blockchain before dabbing into it. The exchange also showed to having support for blockchain based game, because it provides access to GoDice a blockchain based game.
Depositing with cryptocurrencies is free, but when withdrawing you will have to pay certain fees depending on the type of coin that you are withdrawing. When trading also you have 0.1 percent to pay as a maker and 0.2 percent as a taker and the higher the volume of your trade the lesser you paid.
The exchange is Chinese oriented making it difficult to use for those who didn't understand Chinese. The customer support service also is not too bad as they have improve with time.
The interface and overview of the website is not too bad as well. In respect of security, it has high level of encryption, but the security of the exchange was breached in March 2019 when it was hacked. To show transparency , there is external agencies that are engaged in regular auditing, notwithstanding the names of those who form the team are unknown.
In overall the exchange will be doing great if it can make the website more multilingual and exposed whom the membersof the team are.
Pros
- If you hold DT which is native token of DragonEx you will have share in its daily dividend that it uses to pay out.
- There are varieties of cryptocurrencies to trade with
- You can deposit fiat currency through wire transfer.
- The trading fee is 0.2 percent which is still the average fees in the market
- If you hold DT you could have say in which coin will be listed on the platform by participating in vote.
- DragonEx appears to be supporting games that was based on blockchain technology.
Cons
- Very little can be said about the team, in other words the team behind this exchange are anonymous.
- You can not deposit fiat currency with credit card.
