TimeX cryptocurrency exchange is a hybrid exchange based on the Chrono.tech ecosystem. It is an Australian platform that was introduced to the market in July 2019. TimeX is powered using Plasma framework. The TimeX crypto exchange provides a variety of third-party fiat gateways in addition to its very own AUDT stablecoin ecosystem. This enables residents of Australia to directly link their bank account to the TimeX exchange, allowing them to deposit and withdraw Australian dollars nearly immediately.
AUSTRAC, the financial intelligence agency of the Australian government, has granted Timex the permission necessary to operate as a digital exchange provider.
Users who want to trade on TimeX must undergo the KYC verification process.
In total, around 28 TimeX spot trading markets are available. The most popular TimeX trading pairs include ETH/AUDT, XRP/USDT, and ETH/USDT. These pairs have the highest TimeX trade volume as of writing. Besides, note that TimeX is a crypto-crypto and crypto-fiat exchange that allows trading with only one fiat currency – USD.
TimeX has also introduced the Australian dollar-backed token known as AUDT. This was done with the intention of enhancing the speed and safety with which Australian users may move money into and out of the blockchain ecosystem. Besides AUDT, another important token on the exchange is TIME. It is the native token of the Chrono.tech ecosystem, which also includes TimeX. The TIME token can be bought, sold, or staked on TimeX. Besides that, it is used to reward traders.
The TimeX exchange fees follow the maker-taker model and they are as follows: 0.5% for takers and 0.25% for makers. Talking about other TimeX crypto fees, users have to pay gas fees when executing Market orders or other contract calls like withdrawing, transferring, or wrapping tokens.
Apart from the TimeX spot trading, the exchange provides other services. One such service is algorithmic trading. It is carried out by trading bots, which are essentially computer programs that adhere to a predetermined set of algorithms. Without any involvement from a human, bots initiate and complete deals automatically if assets reach certain values.
Moreover, the exchange allows the staking of TIME tokens to generate passive revenue on TimeX. By keeping their tokens in TimeX wallets, users can earn up to 4.02% yearly returns. The amount of TIME tokens that are held and the length of the lock-up term determine the size of the interest rate. Locking TIME in the TimeWarp smart contract is another way to get free tokens. In order to do this, users must have a hardware wallet.
Furthermore, TimeX offers a referral program. Referrers, who share their link with others, are eligible to collect up to 80% of the crypto fees paid by referees. There are four tiers available in the TimeX exchange referral program. Referrers are eligible for incentives for any and all transactions carried out by their referees.
Besides, the exchange offers API services that allow other trading apps to access TimeX accounts. These APIs may be used to access TimeX accounts directly. Regular customers may use these application programming interfaces (APIs) to combine their accounts with other trading terminals which gives them the ability to trade on numerous exchanges using a mobile device regardless of where they are located. However, developers can use API to automate their trading strategies, engage in high-frequency trading, take part in market making, and engage in arbitrage.
About the Company
TimeX was launched by Chrono.tech. The exchange has its headquarters in Sydney and it is one of the fastest-growing Australian cryptocurrency exchanges. When compared to other exchanges in the cryptocurrency industry, the TimeX crypto exchange is still a newcomer, having begun in July 2019.
The hybrid platform, in contrast to traditional first-generation exchanges, uses both centralized and decentralized technologies to offer its consumers a unique combination of advantages. Besides, in addition to anonymity and fast order matching made possible by Ethereum's Plasma, the exchange offers users the security of blockchain settlement and the user experience of the most popular traditional trading platforms. Overall, the TimeX cryptocurrency exchange has a primary goal to provide a platform for trustless, instantaneous, transparent, and cryptographically verified peer-to-peer trading.
Tim Zinin is the marketing manager for the cryptocurrency exchange TimeX.io. He also works with Chrono.tech.
If you want to see the current TimeX trade volume, take a look above.