WX.Network cryptocurrency exchange (previously known as Waves Exchange) is a decentralized trading platform that specializes in Waves-based assets as well as other digital currencies such as Bitcoin and Litecoin. It also offers Neutrino-backed fiat stablecoins like EURN and GBPN. The platform was established in 2017 and it is distinct from other major decentralized exchanges, as it has its own blockchain and a completely modified trading system. This enables users to experience a unique environment while exchanging cryptocurrencies or participating in ICOs (initial coin offerings) for crowdfunding purposes.
As the platform is decentralized, it has no restrictions for users in any part of the world. Furthermore, gaining access to the platform only requires an existing cryptocurrency wallet. There are no KYC procedures to follow.
The exchange can be accessed through both – desktop and mobile devices.
There are over 20 WX.Network trading pairs available for its users to trade with. Some of the major cryptocurrencies supported include BTC, ETH, USDT, LTC, and more. The WX.Network spot trading feature along with its swap, staking pools, and OTC trading options gives its users many ways to trade and make profits.
The exchange applies the same WX.Network fees to both takers and makers. The current WX Network matcher version levies either a dynamic or percentage type of fee depending on the chosen trading pair. The dynamic fee mode resembles the previous system. Matcher charges a set cost of 0.01 WAVES for trade orders. When a matcher uses the percent fee method, they charge 0.1% of the exchange transaction amount, but not less than the equivalent of 0.01 WAVES.
All users of the WX.Network cryptocurrency exchange must download the Waves Lite Client Wallet to their phones or laptops for making deposits and withdrawals. The money remain in this Lite wallet until a transaction is completed on the exchange. The Waves Lite Client Wallet allows users to deposit and take out various crypto assets, apart from the WAVES cryptocurrency. Furthermore, fiat currencies can be converted into a digital form in a 1:1 ratio through compliant crypto operators running fiat gateways that act like instant payment providers. Through the WX.Network crypto exchange platform, these digitized fiats can then be exchanged against other cryptos on the blockchain network. Additionally, users are able to cash out their digitized fiats for real-world money.
The WAVES token is the exclusive digital currency of the WX.Network cryptocurrency exchange. Primarily, WAVES tokens play an important role in the Waves blockchain being a reward for block generators. Talking about WX.Network cryptocurrency exchange, WAVES tokens can be used to create trading pairs and cover transaction fees. Besides WAVES, the exchange itself has a native token – WX. The WX native token provides users with passive income via staking and grants locked WX token holders who obtain gWX voting rights and increased authority. Check out the current WX.Network crypto price here.
Apart from trading, the WX.Network cryptocurrency exchange offers various investment opportunities. This includes liquidity pools, LP token staking, and WAVES token staking. All these options provide users with means of passive income generation.
Besides that, with the rebrand WX.Network introduced other features such as easy token launch, token listing service, and a new referral program. The referral program allows WX stakers to earn more passive income from referrals, from their staked WX, and from their trading operations.
About the Company
In 2017, Sasha Ivanov, a theoretical physicist who was inspired by gravitational waves, established the WX.Network cryptocurrency exchange (then Waves Exchange). Its technical and philosophical foundations were drawn from the Nxt blockchain project. Sasha Ivanov also founded Coinomat in 2013 on this platform but soon noticed certain shortcomings which led him to develop an entirely independent decentralized blockchain network, WX.Network, that could cater to businesses and decentralized applications more efficiently.
In December 2022, Waves Exchange announced that it will undergo a major rebranding to WX.Network. The rebrand introduced new features, a new name, and a completely new look.
The WX.Network trade volume ranged around $219,700 in February 2023. However, if you want to know what the WX.Network volume is today, take a look above.