Review on Synthetix Exchange by John Aledare
Synthethix Exchange
This trading platform is under the Ethereum network, it was created to resolve some of the issues created by decentralized exchanges, However it does need an order book since it uses synthetic assets.
One of my favorite features of this exchange is that it allows trade in both traditional and binary currencies. One nice tuing about this exchange is that you dont have to sign up to use it although this might also be a problem as it could make the exchange seem more vulnerable to scammers. It is important for a trader to weigh out the consequences to know whether or not the risk is worth taking.
Another notable thing is the fact that transactions here can be quite slow although this doesn't come as a suprise since it is under rhe Ethereum network which is highly Congested. I wouldn't advice new crypto traders to use this exchange because it can be quite complex to a beginner
Pros
- Transactions are carried out through Smart contracts
- You don't need to sign up to carry out a transaction
Cons
- It is slow at times
- Not advisable for beginners
- It can be expensive
