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IDEX: Everything you need to know

IDEX

Source: Binance Research

We have been in a world full of virtual currencies for quite some time now and ever since the industry was first introduced, it has been gaining quite a lot of support and has been more than successful in luring in potential investors from all across the globe. Not just that, the crypto world has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!

Having said that, I believe most of you are already familiar with the basics of the industry but, if for some reason that is still not the case, let me help you with that first.

To begin with, cryptocurrencies are simply blockchain-based platforms that are said to be decentralized to their very core. Being decentralized, the industry becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interference as well.

This virtual asset of yours can also be used for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges online. Though when the industry was first introduced globally, there were very few currencies you could have chosen from, and frankly, not many people were interested to be a part of it either as they were very skeptical concerning the return on their investments and the safety of their money as well.

On the other hand, that is surely not the case anymore as, looking around today, you will come across a pool of currencies to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

DEX

Source: Decrypt

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in include Bitcoin, PnacakeSwap, Binance Coin, Polkadot, Ethereum, Dogecoin, Baby Doge as well as EverGrow Coin to name just a few of course.

Now, for some of you wondering, how did it happen so rapidly? Let me tell you that, some of the major contributing factors for this huge success of the industry include its ease of use, negligible response time, high-profit margins, volatility, intuitive nature, real-time updates, as well as the convenience it offers of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, IDEX. To know more, I suggest you read further!

Everything to know about IDEX (IDEX)

DEX

Source: Best ICO for you

IDEX is nothing but a platform that simply claims to be the very first hybrid liquidity decentralized exchange (DEX) that is known to combine an order book model with an automated market maker (AMM). In other words, IDEX is said to blend the overall performance as well as features of a traditional order book model with the liquidity and security of an AMM.

Not just that, IDEX is known to take an innovative approach when it comes to decentralized exchanges by just combining an off-chain trading engine with an on-chain trade settlement. Moreover, users are said to benefit from that in various different ways, which will come to in a bit.

Before moving on any further, it is worth noting that, IDEX was founded by Alex Wearn (CEO) along with his brother, Phil Wearn (COO). Also, IDEX is also the native utility token of the IDEX exchange, which as a matter of fact can be used for a variety of purposes on the platform itself like allowing IDEX holders to stake tokens to help secure the protocol as well as earn rewards at the same time, along with many more such use cases.

Basically, IDEX is a hybrid liquidity DEX that is said to blend the characteristics and attributes of decentralized and centralized exchanges in order to simply deliver users a much more efficient trading experience. In addition to this, the instant trade execution removes the overall possibility of front running and failed transactions, while supporting more advanced trading strategies.

On a similar note, IDEX Exchange is a rather comprehensive and much more advanced trading platform, which as mentioned is also the world’s most advanced crypto exchange in the marketplace for all cryptocurrency enthusiasts out there. Apart from this, the said platform is authentic, high speed, and most importantly provides utmost security to account holders across the country.

IDEX

Source: CoinDaily

Just think of it this way that, IDEX has managed to offer its users a centralized exchange with the safety features of decentralized trading of currencies. Speaking of the benefits that the platform is said to offer to its users, let’s have a look at it. To begin with, this unique approach of the platform talked about earlier does away with failed trades along with wasted money on gas fees, thus helping to make the overall trading experience much more efficient and pleasant for users.

The instant trade execution results in preventing front-running or sandwich attacks, which means that the users can trade without waiting for previous ones to settle first. Furthermore, the advanced order types and trading strategies mentioned earlier can easily be executed since there is now a possibility of limit orders, thus opening up the arbitrage opportunities with other exchanges available in the marketplace.

IDEX is one such platform that is known to follow a rather ambitious roadmap that is known to envision a multi-chain future for the said exchange, which currently runs on Binance Smart Chain as well as Ethereum. Moreover, as of 2021 end, IDEX was planning on launching on second layer solutions and Polkadot and implementing a referral.

Having said that, for the future, IDEX plans on implementing leverage trading and launching additional layer one and layer two blockchains. Lastly, IDEX uses smart contracts in order to decentralize fund custody and trade settlements on the platform, and for the order book model, these smart contracts execute trade off-chain but trades are settled on a chain with a delay. Basically, the smart contracts are known to act as escrow and restrict the overall movement of funds until the said settlement is finished.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, IDEX. To know more, I suggest you read further!

Investing in IDEX (IDEX)

DEX

Source: TheNewsCrypto

As of today, the price of IDEX is about 0.304605 US dollars with a twenty-four-hour trading volume of 894,313,726 dollars. Not just that, in just the past twenty-four hours, the value of IDEX has gone up by 85.15 percent, and with the current market cap of 193,562,496 US dollars, IDEX is currently placed at #254 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of IDEX is 635,454,977 IDEX coins, but unfortunately the maximum lifetime supply of the token is not yet available. In just the past week alone, the price of the platform has risen by 165.45 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in IDEX is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that IDEX can prove to be a profitable investment shortly, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!

DEX

Source: Nomics

If still not convinced, see it this way that, if say you buy IDEX worth a hundred dollars today, you will receive nearly 336.521 IDEX. According to the analysis done by experts on the field, after five years of your investment, the return is expected to be about +315.49 percent and thus, your current hundred-dollar investment will be nearly 415.49 US dollars in 2027.

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, you need to understand the fact that just like any other currency in the crypto marketplace, IDEX does have its own risks as well and you should invest only if you are willing to take those risks and bear any losses if at all necessary.

If you are wondering, where can you buy IDEX? Let me help you with that. Currently, IDEX is available on all major crypto exchanges but, some of the popular exchanges that have IDEX listed on them include Mandala Exchange, Binance, Huobi Global, Gate.io as well as BingX to name a few.  

In conclusion, what are your thoughts on IDEX? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Tezos: Everything you need to know

 

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