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Mandala, a Binance Cloud-powered cryptocurrency exchange, claims to have over 1,000 tokens available on its platform for trade, with users from across 160 countries. The crypto trading platform was launched by Mandala Acquisition LLC in December 2020.
The Malta-headquartered exchange is available for trading in Canada.
Presently unavailable in the US, crypto traders are said to be using a virtual private network (VPN) to invest via this platform. The exchange has launched its mobile applications for Android and iOS handsets that are available in limited jurisdictions.
Mandala claims to charge a minimal trading fee of 0.10 per cent. It charges no transfer fee for digital holdings between Mandala and Binance. The exchange also offers asset listing services.
Bot trading option on Mandala exchange
Mandala exchange is said to have a bot trading option powered by Hummingbot incorporation. The option, however, is presently halted as the exchange has been upgrading its application programming interface (API).
The crypto trading platform has said that the bot option will be reinitiated once its interface is fixed. The exchange team expects to bolster its trading volume via bot trading using its 8,000 community representatives.
What is MDX Token?
Mandala’s native crypto token is known as Mandala Exchange Token (MDX). It has a total circulating supply of 400 million coins. In utility, it can be used to trade on Mandala exchange, referral rewards and digital asset refunds.
It is an ERC-20 token, which operates through Ethereum’s blockchain platform. Mandala Exchange Token, trading at US$ 0.09 on Monday, June 28, has climbed 16 per cent in the last 24 hours, with a volume of more than US$ 150,614.
As per CoinMarketCap, it is placed at the 3,091st spot with a market cap of over US$ 27 million.
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How to buy and sell MDX Token?
MDX token is available for trade on platforms Uniswap and Bilaxy. MetaMask Wallet holders can exchange their Ether coins to MDX and vice versa.
The crypto exchange is in the final phase of integrating its conventional currency operation, which will enable investors to buy cryptocurrency with their debit and credit cards on its trading platform.
After the inclusion of the fiat money option, Mandala Exchange is expected to provide a direct trading session on its platform without swapping assets from other exchanges.
Mandala Exchange’s team has been working towards its listing on CoinMarketCap and CoinGecko.
Please note: The above constitutes a preliminary view and any interest in stocks and cryptocurrencies should be evaluated further from an investment point of view.
