What is Tidex Token (TDX) – Crypto Beginner’s Guide
Trading and exchange platforms have become a part of everyday life when it comes to cryptocurrencies and are required for anyone who wants to play the market or exchange coins to utilize specific platforms and applications. Tidex is new trading platform designed to be simple to use and accessible to anyone who wants to use it.
How it Works
Tidex is designed to cater to the exchange of custom tokens. Custom tokens can often be found on platforms that serve a specific purpose, such as social networking, and utilize their own currency to fuel the platform. These tokens can be bought or sold on other markets for various values.
The exchange platform is set up very simply so that it can be accessible and simple to use. It presents information regarding what various coins are worth on the market and how they can be traded, whether the user is looking to exchange them for Bitcoins or multitudes of other available cryptocurrencies. Tidex hopes to simplify the trading of altcoins and appcoins.
Fees are also kept incredibly low in order to encourage the market. Market makers do not incur any costs, while market takers are charged a 0.1% fee. This will help the market grow by encouraging people to continue to buy more coins.
Many applications require custom tokens to use the features that are offered. Usually, these tokens are made available through ICOs and presales, but developers still want to make sure that their tokens can be distributed so that new users can find a way to their platforms.
Tidex allows a process for the listing of custom tokens or appcoins. A KYC/AML transaction is required to make the token active, and then listers must pay a fee in order to have their coin listed on the market. Users can also list coins through this process that they are in possession of. The exchange then offers analysis tools, market values, and other information that will assist in users being able to make smart trading decisions.
Advantages and Negatives
The Tidex platform offers a great interface for people using the market. It is straightforward and easy to use and offers beneficial analysis of custom tokens and appcoins that can be compared with other currencies, including the major cryptocurrencies that are more commonly accepted. The information is updated frequently to make sure that traders have up to date information about deals and trades being made regarding coins and offers them through reports that are easy to understand.
That said, the site has not yet assembled a large number of members and, in result, only offers a limited variety of coins. This makes it difficult to predict how successful the interface might be in the future because it hasn’t grown very much. It is appealing in that it offers an easy way to list coins and analysis of trading, but its success will rely on its ability to entice more users.