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Trading has been a part of the crypto industry since the crypto industry existed, and it is pretty much the foundation of the entire crypto sector. However, while it evolved over time, as traders came up with various strategies, exchanges improved their UI and UX, that still doesn’t mean that it is any less complicated than it was back in the day, only due to different reasons.
In the early days of crypto, trading required technical knowledge, and back then — not a lot of people had it. Only those with strong technical backgrounds who happened to hear about cryptocurrencies, and then get interested in them could engage. And while it has become extremely easy in years that followed, today, it is complex due to extreme volatility, sudden shifts in market trends, the fact that any event can have significant consequences on the market, and more are all things that people need to keep in mind while trading.
Not to mention so many different trading platforms, thousands upon thousands of cryptocurrencies available, countless trading strategies, and alike, all of which is difficult to grasp even for professionals, let alone new traders who are just joining the crypto world in 2022.
To help these newcomers learn, earn, and engage with crypto without being intimidated or disappointed by losses immediately, the developers invented social trading, where users could simply manually or automatically copy professional traders’ moves and strategies and achieve similar results. But, then DeFi launched, and there was a gap in decentralized social trading, until the launch of a project called DeXe (DEXE).
What Problems Does DeXe (DEXE) Solve?
DeXe is a project that brought several solutions to the crypto world that can help experienced traders, newcomers, and even those who have been in crypto for a while but are struggling to master the industry. For example, it can offer:
Social trading has been around for a long time, as mentioned, but not in a decentralized environment. It was present on many exchanges, in crypto and traditional finance alike, but now, thanks to DeXe, it is present on an open and permissionless system, as well.
The way it works is ultimately the same as elsewhere. Users would find an expert trader that is achieving good results with the asset of their choosing, and copy their strategy. This is called copy-trading, and it is the fundamental aspect of social trading. By copying the expert trader’s every move, even if they don’t understand it, inexperienced traders can achieve the same results, and earn profits by using professional strategies from day one.
Copying multiple traders through different tokens
According to DeXe’s website, users can have one token or many tokens in play, where they would use one for each trader that they opt to follow and copy. Each token is backed by a real asset, and its price depends on the traders’ skills.
DeXe ensures that its native DEXE cryptocurrency would remain in constant circulation by engaging in regular automatic token buybacks, which is one way to ensure liquidity. At the same time, it also helps make the demand for the token, thus ensuring certain price stability.
Burning a percentage of tokens based on player rewards
The project also has a burning mechanism in place where a certain percentage of users’ rewards gets burned, which slowly but surely reduces the circulating supply, leaving the remaining tokens that much more scarce, and as a result, also more valuable.
Benefits of DeXe (DEXE)
While DeXe’s solution has the potential to impact traders in a great way, there is even more that the project can offer to impact them even more directly, and make engaging with the project even more rewarding. For example, you can:
Earn by copying the most effective strategies
By copying the most effective and advanced strategies automatically, you can engage in some of the most complex trading methods without even knowing how they work, exactly. The main thing to keep an eye out for here is the trustworthiness and success of the trader that you are copying. If they are truly an expert and they tend to earn a lot and lose very little, then you can be sure to trust them to take the lead, knowing that they actually know what they are doing, and that they can and will earn for themselves, as well as you.
Earn farming rewards
By buying and holding the project’s native token, DeXe, users become eligible to earn farming rewards. The formula is fairly simple — the number of days DEXE tokens were held from the first day in the wallet to the day until the product release day is multiplied by the coefficient of “holding days” and “farming allocation” coefficient. In other words, all you need to do is buy DEXE, keep it in your wallet, and the rewards will start coming in, rewarding you for supporting the project.
Another benefit of holding the DEXE token is the right to participate in DeXe DAO. It is not required to hold DEXE in order to participate in the project’s network and benefit from several of its social trading functions, but it is required to hold it to become a member of the DAO, receive the voting rights, and contribute new proposals.
How Does DeXe (DEXE) Work?
DeXe is a project offering an open, permissionless system that offers a social trading feature. Essentially, by using its services, users get to copy the moves and performance of professional traders even if they do not know what they are doing, or why are they making the moves that they make. The end result is that newcomers and those who struggle with mastering trading get to make profits from (almost) each trade, simply by following the lead of experts, automatically.
Along the way, they also stand to earn farming rewards, governance rights, and benefit from the platform that conducts regular token buybacks and burnings, which can ultimately only help bring the DEXE price to a higher level as the circulating supply continues to shrink slowly, over time. In other words, this is a project whose token is meant to be bought and held for long term, and in the meantime, it utilizes social trading to help traders earn profits. And, while the earnings cannot be guaranteed, as even the experts make bad moves from time to time — it is far more likely that you will experience profits than losses by engaging with social and copy trading.
How to Buy DeXe (DEXE)
Currently, DeXe (DEXE) is available for purchase on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying DeXe (DEXE). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
DeXe (DEXE) — A leading decentralized social trading platform
Social trading has proven a long time ago that the power of community and decentralization can mean a great help for everyone, as even those who join the crypto industry today can immediately start earning — or at least, as soon as their initial deposit reaches their platform of choice. With further decentralization of social trading thanks to DeXe, that aspect of crypto trading can only get amplified further, with fewer intermediaries, fewer chances for things to go wrong, and, at the very least, it will add another benefit to the DeFi sector that will empower crypto and reduce its dependence on centralized platforms.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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