- DeXe token network is decentralised social trading and asset management platform which is based on the DAO principles.
- The platform claims to be open for all global users, with each token holder having equal voting rights.
DeXe token network is the world’s first decentralised social trading and asset management platform, which is an open, autonomous, and permissionless system. The platform is designed to copy the best trading strategies and tools which are useful for both traders and investors. It uses DeXe as a staking token for its yield farming platform. Yield farming is the latest buzz in the decentralised finance world, which allows cryptocurrency holders to earn rewards on their holdings.
DeXe claims to be an open and permissionless system that operates on the DAO principles. Decentralised autonomous organisation (DAO) is an open, globally accessible community based on the contribution from all of its members, which is an alternative to the centralised management of legal entities. Each and every token holder in DAO has equal voting rights, and hence DAO promotes the integrity of the community, access to the trusted business, and eliminates power influence of few majority shareholders.
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How does DeXe platform work?
After the release of its main product and when the platform is live, the user can go through the facts and ratings of the traders and invest through the DeXe smart contracts. When the user invests with the desired trader, the system will issue the tokens of that trader to the user, which is equivalent to the investment value of the user. In a way, the trader will trade using the user’s funds, and the user will get access to the trader token, which he can hold in his wallet. As the trader popularity grows and volume of traded fund increases, will eventually lead to the rise in the token value which user already holds. The smart contract will take away 30% as its charges from the trader’s earnings and distribute it to the DeXe token holders.
Latest news update
Binance platform, one of the largest cryptocurrency exchanges in the world, which encourages investment into Altcoins, has recently added DeXe token on its platform to increase its customer offerings. DeXe coin was up by 15% after the announcement. Binance keeps adding new cryptocurrencies on its platform and has over 500 cryptocurrencies for investment and cryptocurrency trading purposes.
How to trade in DeXe coin using crypto exchange
Currently, DeXe coin is one of the top-performing cryptocurrencies, which has surged in price, giving high returns to its token holders. DeXe is listed on a number of crypto exchanges, but investors cannot directly purchase the DeXe token with normal currency. User has to first purchase cryptocurrency like Bitcoin and then can purchase the DeXe coin using the Bitcoin.
Here are the detailed steps to follow while buying DEXE:
- Buyers need to first register on the crypto exchange and buy one of the popular cryptocurrencies like Bitcoin or Ethereum after completing the KYC process.
- DeXe is an altcoin and trade on the exchange which allow Altcoin to trade on its platform like Binance exchange. Users need to transfer the previous purchase of Bitcoin to the Altcoin exchange using the Bitcoin address, which is the unique public address of the buyer’s cryptocurrency wallet.
- Once the cryptocurrency is transferred to the Altcoin exchange, individuals can buy the DeXe coins by using the same funds.