[CRYPTO - ITA] OneExBit, an interface for all exchanges!
Hi crypto lovers, I dedicate this article to talk about the OneExBit project (https://oneexbit.com). Have you ever wondered if and how it is possible to trade in different exchanges through a single interface? The answer is OneExBit and in the rest of the article I will explain in detail this fantastic project. Follow me!
The problem
In 2018, the cryptocurrency market recorded record levels and dramatic lows. The immaturity of the market has been demonstrated in the round: cryptocurrency exchanges have lost hundreds of millions of dollars due to hackers; over 1000 ICOs were launched, with an 80% failure rate, and so-called whales cleverly manipulated asset prices. Although the beginning of 2019 was characterized by a new phase of uncertain growth, many other cryptocurrency issues will need to be resolved to achieve mass adoption. Many of these problems have to do with exchanges. Excessive centralization, low security, high commissions, clumsy interfaces: all these factors hinder the work of traders and prevent large institutional investors from entering this market.
The solution
OneExBit already has a fully functional trading terminal that integrates several popular exchanges using the related APIs. In addition to the trading functionality, the terminal offers useful graphs, trading history and statistics and an intuitive and carefully designed interface. The next step for OneExBit will be the large-scale expansion of the terminal combined with the start of a masternode coin. The new features will include:
intraexchange arbitration bot
asset management services
social and mirror trading, types of compound orders
decentralized exchange.
OneExBit will also continue to add new exchanges, with the total number expected to reach 40 by the end of 2019. The exchanges currently supported are as follows:
As you can see there are exchanges of a certain caliber, such as Binance, Poloniex, HitBtc, Bitfinex but by the end of the year support will also be guaranteed for Idex, Kucoin, Kraken, Liquid, etc ...
How will it be possible to earn through OneExBit?
Thanks to the new features, OneExBit users will have at their disposal a series of income sources: manual and automatic trading, passive income from entrusting their assets to professional operators, masternode rates, profits from arbitrage and others. Therefore, the terminal will become a perfect tool for both trading and passive investments.
In summary, what will be the features of OneExBit?
The current fully functional OneExBit version is available for both Mac and Windows and is already used by over 500 traders. The current version offers the following features:
Opening and closing positions on all exchanges completely integrated within the OneExBit terminal: it is not necessary to use a browser for trading.
Quick exchange between exchanges.
Wide range of analysis and forecasting tools; the analysis results are saved even when the program is closed.
Limit and market orders.
Graphs of exchange rates (available through integration with tradingview.com) with multiple viewing options.
Current orders displayed on a chart.
Orders and last transactions.
Working without API keys (price analysis and charts).
Display of the account balance, transaction history, a list of open orders, real-time closing of orders, last price, daily price change in%, daily maximums and minimums, daily trading volume (more data types are added regularly) ).
Below is an image of the already functioning platform.
The ONEX cryptocurrency
In order to provide users with the widest possible range of services and create a self-sufficient financial system, OneExBit will issue its own masternode currency, ONEX. Coin holders will have two additional sources of income:
Starting and maintaining a masternode, or a node that stores a complete and updated version of the OneExBit blockchain. The Masternodes provide crucial network services: they ensure the security and stability of the blockchain, and in some blockchains (like Dash) they allow instant private transactions. Masternode operators receive a reward for their services in the form of a portion of the block's premium. To create a masternode, a OneExBit user should purchase a certain number of ONEX coins, purchase a VPS (virtual private server) from suppliers such as DigitalOcean or Vultr; this is necessary because a masternode must remain online 24/7. Finally it will have to install the OneExBit wallet on the virtual server and configure a hot-cold storage system for ONEX coins.
Mining Proof-of-Stake (PoS). ONEX coins can be extracted like any other PoS cryptocurrency. A user will only have to store some ONEX coins in his wallet and confirm the transactions on the network. As in all PoS systems, members with higher stakes will have more chances to complete a block and receive a reward.
Many cryptocurrency users mistakenly believe that PoS and masternodes are the same thing, because the stakes are represented in both cases. This is wrong: the masternodes mechanism is also known as PoSe (Proof-of-Service) and there are important differences between the two ways of earning money:
The size of the stake for a masternode is predefined and quite large; instead, PoS mining can also be carried out for users with stake of all sizes (see eg NEO).
Any device or computer with a wallet installed is sufficient for PoS mining; a masternode needs private server space to run without interruption.
A masternode stores a complete copy of the blockchain, which can reach dozens of gigabytes. The PoS mining instead is not.
Users who perform PoS mining do not pay fines when their wallets are offline, they simply do not receive any prizes; on the contrary, a masternode must always be online to update its blockchain otherwise it will be charged a "fine".
Unlike minatori, masternode operators do not complete the blocks; however, they can refuse a block if a miner breaks the rules (for example to manipulate the rewards).
The start and execution of a masternode are technically complex; PoS mining is easy enough for any user.
The Masternode rewards are higher and more predictable, although the monthly VPS costs must be considered.
In summary, the characteristics of the ONEX currency are the following:
I conclude here my article on OneExBit showing you the product pricing. There are 3 types of licenses:
Free: allows you to use at most 2 exchanges and has many limitations such as, and example, it is not possible to perform arbitrage.
Classic: costs $ 20 a month, allows you to use up to 5 exchanges but does not allow social trading and asset management.
VIP: in order to have this license it is necessary to set up a masternode of 30000-50000 ONEX. Through this license there are no limitations on using the exchange and the functionality of the platform.
Here are the contacts and social platforms of the project:
Website: https://oneexbit.com
Whitepaper: https://oneexbit.com/whitepaper-onex.pdf
Facebook: https://www.facebook.com/onex.bit.5
Twitter: https://twitter.com/Oneexbit1
Telegram: https://twitter.com/Oneexbit1
Github: https://github.com/oneexbit
Bitcoin Talk (ANN): https://bitcointalk.org/index.php?topic=5129693
AUTHOR: Gambangcity
ETH: 0xbd4e6B6E19c55D117badfa5C218Ae03263df6072
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