Review on Ethfinex by LUIS RIVERO R
The hybrid exchange.
This exchange is known as a decentralization hybrid, usually based on transactions on the etherium platform. Although its volume is not so high due to the limitations it has.
-It has a voting method thinking about the community although to exercise a greater vote it is necessary to have more tokens of this platform.
-Within its decentralized mechanisms are the possibility of operating without depositing assets in Ethfinex. Using DEX-style contracts.
As a subsidiary of Bitfinex, it has the support and experience of this exchange.
-The storage of funds is done cold, without online access, only a small amount is maintained in the ecosystem for the transactions that are generated.
-Like other exchanges, most security will depend on the user and the methods he uses to protect his account. Authentication of two factors, generate a good password without being equal to those used in other sites among others, in addition to offering monitoring systems of the different behaviors on the platforms that can lead to a security problem.
They have a system of shared governance, however, this is not true decentralization, it is only a proposal of a method of sharing certain attributions with users, although it is interesting to see how various user requests can be raised and taken into account.
One of the most promising features is that in the future they plan an interconnection of various chains using decentralized protocols that connect with it and be able to include more assets.
Updated 5 years ago
Rating changed from 4 to 1
Currently the entire volume of this Exchange was sent to bitfinex. All accounts and users were migrated to this platform. not available since October 12, 2019
Pros
- Cold storage.
- Bitfinex support and experience.
- It is possible to make transactions without depositing funds.
- Small transactions are processed quickly within your platform.
- Possibility to choose between de-centralized market or trade from the Ethfinex platform
- News on listed assets.
- Traders have leverage
Cons
- This trading platform is not available for the United States.
- The minimum required to use the Dex is $ 200
- Only etherium tokens are listed.
- This exchange was hacked in 2016
New products
Comments (1)
January 05, 2020
Well, despite its affiliate in bitfinex, the fact that it is no longer available can be detrimental to the Exchange since it could generate some controversy
