Bithumb Dex Offers No Fees and Airdrop Event

Bithumb Dex is a game-changer for traders looking for a fee-free experience.

By eliminating trading fees, Bithumb Dex makes it possible for users to trade with complete peace of mind.

The platform's no-fee policy is a major draw for traders who want to maximize their profits without worrying about unnecessary expenses.

You might enjoy: Bithumb Crypto

Bithumb, South Korea's second biggest cryptocurrency exchange, has officially launched its decentralized exchange (DEX) platform.

The new platform, called Bithumb DEX, was developed in partnership with One Root Network and is expected to target global cryptocurrency markets.

Bithumb DEX has several key features that make it stand out from traditional centralized exchanges, including improved security and speed.

Decentralized exchanges like Bithumb DEX store assets in smart contracts, which are independently controlled by users, greatly improving security.

Transaction histories on Bithumb DEX are recorded on the blockchain, making all transaction details and cost deductions open and transparent.

Bithumb DEX uses the R1 protocol, which separates matching and settlement of orders, enabling off-chain order matching and increasing transaction speed.

Recommended read: Top 50 Cryptocurrency Exchanges

The platform shares order data and liquidity with other exchanges running on the R1 protocol, increasing asset liquidity and trading depth for users.

This sharing of order data and liquidity is a key feature of the R1 protocol, which embodies the concept of sharing and win-win.

Here are some key benefits of Bithumb DEX:

Bithumb DEX users are no longer exposed to the risk of exchange theft, as their funds are now kept in a smart contract.

This adds a further layer of user security and reduces the risk of platform attacks, since the platform no longer directly handles user funds.

The platform's speed is comparable to centralized exchanges, thanks to OneRoot's decentralized token exchange protocol.

This protocol separates matching and settlement of orders and enables off-chain order matching, making it comparable to centralized exchanges.

DEX platforms employ a peer-to-peer functionality that makes identity management processes redundant.

This means you don't need to go through complicated membership authentication procedures to prevent leakage of identifying personal information.

You might like: Centralized Exchange

The R1 protocol makes it possible for Bithumb DEX to be managed using a blockchain, which substantially improves transparency and increases the platform's reliability.

This tackles the persistent problem of low transaction volumes on decentralized exchanges, which often leads to long wait times for transaction matching.

Bithumb DEX shares its order data and liquidity with all other exchanges running on the R1 protocol, which substantially increases asset liquidity and trading depth for users.

This sharing of order data and liquidity is the most important feature of the R1 protocol, and it embodies the concept of sharing and win-win.

Readers also liked: Bitcoin Lightning Exchanges

Bithumb DEX offers superior security compared to centralized exchanges, as all of its assets are stored in Smart Contracts and controlled independently by users.

This means that even in the event of a hack, the DEX's assets are not at risk of loss. The histories of all transactions are also recorded transparently on the blockchain, eliminating the possibility of any tampering of data.

The R1 protocol, developed in collaboration with ONEROOT, separates the matching and settlement of orders, allowing for fast transaction speed. Order matching is done off-chain, making it comparable to centralized exchanges in terms of speed.

The DEX also shares order data and liquidity with other exchanges using the R1 protocol, increasing asset liquidity and trading depth for users. This makes it a more attractive option for those who value speed and convenience.

A different take: Bitcoin on Exchanges

The No Fee Period on Bithumb DEX is a game-changer. The event will continue for a month, from October 15 to November 15, allowing users to trade without paying any fees to the exchange.

During this time, users will only need to pay the Gas fee to the Ethereum Network. This is a significant advantage, especially for frequent traders.

The top 1000 traders who have traded on the platform for 2 weeks will also receive a share of the Airdrop giveaway. The coins will be distributed between October 15 and October 30.

The distribution is based on the traders' volume, with the top trader receiving coins worth 50 ETH, the second-ranked trader getting 30 ETH, and the third-ranked trader entitled to 15 ETH.

Expand your knowledge: Crypto Coins Exchanes Micro Cap

Bithumb's DEX offers superior security compared to centralized exchanges, as all of its assets are stored in Smart Contracts and controlled independently by users.

This means that even in the event of a hack, the DEX's assets are not at risk of loss.

The R1 protocol is used to separate the matching and settlement of orders on the exchange, allowing for fast transaction speed.

Order matching is done off-chain, which enables quick and efficient transactions.

The DEX shares order data and liquidity with other exchanges using the R1 protocol, giving it better trading depth and increased asset liquidity.

This collaboration with other exchanges empowers Bithumb's DEX with more resources and capabilities.

The histories of all transactions are recorded transparently on the blockchain, eliminating the possibility of any tampering of data.

Bithumb, South Korea's second-largest cryptocurrency exchange, has announced plans to launch a decentralized exchange (DEX) in the coming months.

The new platform, called Bithumb DEX, will target global cryptocurrency markets and is being developed in partnership with One Root Network.

Additional reading: Cryptocurrency Exchange

Bithumb DEX will improve security by removing the centralized point of weakness, especially important in light of recent hacks of the Bithumb platform.

Decentralized exchanges like Bithumb DEX will appeal to the exchange's savvier customers, who value added security and stability.

Binance CEO Changpeng Zhao believes that decentralized exchange technology will eventually overtake centralized exchanges, but doesn't know when that future will come yet.

Bithumb DEX will use the OneRoot Project's R1 Protocol, which enables off-chain order matching and makes the platform's speed comparable to centralized exchanges.

Here are some key features of Bithumb DEX:

The launch of Bithumb DEX is expected to increase asset liquidity and trading depth for users, making it a more competitive option in the global cryptocurrency market.

Bithumb DEX users will be protected from theft and security threats in ways that were not previously possible, as their funds will be kept in a smart contract rather than exchange server wallets.

The R1 protocol makes it possible for Bithumb DEX to be managed using a blockchain, which substantially improves transparency and increases the platform's reliability.