CryptoBridge - Decentralized Exchange With Native Staking Coin On BTS Network

in #cryptocurrency6 years ago (edited)

Bridge 1.jpeg

CryptoBridge is a new player to the scene, and unlike some other decentralized exchanges around these parts I will hesitate to defame, the interface does not make me weep for the wasted potential of the underlying technology.

All assets on CryptoBridge are fully collateralized and decentralized, meaning you are only going to lose funds either via your own poor trading or by fudging a deposit or withdrawal somehow. Counterparty risk is about as low as you could hope for.

One of the distinguishing characteristics of CryptoBridge is the existence of Bridgecoin. Holders of Bridgecoin are essentially the owners of the exchange, receiving a share of all profits from exchange operation not unlike Binance Coin, KuCoin Shares, etc. I'm to understand these profits materialize in the form of "dust" (presumably small) amounts of each and every traded cryptocurrency from the previous day, based on volume, so it may be necessary to hold a fair amount to receive "staking rewards" that would be worth paying withdrawal fees to extract.

Bridge 4.png

I was actually surprised the market cap was this high already.

CryptoBridge is new (the client still says Beta) and small, so profits are small as well. Future growth could catalyze large increases in the coin, but only if some event causes the broader crypto market to de-risk enough to focus on decentralized exchanges despite their seeming "disadvantages" to those who otherwise ignore counterparty risk.

Bridge 2.png

You'll have to expand this image to account for my gargantuan resolution.

Despite the need for a "right click > open image in new tab", you can hopefully see this is a rather fully featured exchange. I would actually describe the interface as above average, and it actually reminds me of Bittrex's new exchange interface.

There is one fly in the ointment, and that's the connection reliability.

Bridge 3.png

Hey, at least it's connected.

This is no doubt the result of the exchange being so new. Few people are operating nodes, and I noticed about 15-20 in the official list currently. There is an interface option within your trading account to quickly launch your own node and switch to it for a better connection, so as traders begin using the exchange there will no doubt be an increase in available nodes and this problem should become more manageable going forward.

There is currently a lack of 2-factor authentication, so I strongly advise against leaving funds on the exchange unless necessary.

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More Decentralized Exchange Platforms are on the way, CryptoBridge has to work harder.

i hope cryptobridge will boost the security of the customer, because nowadays centralized exchange is very vulnerable from attacks, and also this will prevent the institutionalized investor from trading backdoor. :)

Cryptobridge is doing great, it is built on Bitshares which is the platform for exchanges.

Just want to see BTS go up so I can cash out. Sorry for the ugly truth.

Yeah Cryptobridge is a great new, decentralized exchange. It’s actually built on Bitshares (BTS). Pretty cool!

you are never leaving funds "on the exchange". It's decentralized. which you yourself say at the beginning of the article...

@lexiconical It Is one more platform in the markets, will try soon. Thanks you for post

I need to open a CryptoBridge account to buy some SMARTCASH!!

You don't get fee split in of each and every traded cryptocurrency. Since 15 days ago you get your fee split in few most traded cryptocurrencies. All dust is converted to BTC. Exchange has potential but at moment you don't have mobile App, API, interface is bad, you can't trade many coins like NEO,ETH,XRP,EOS,IOTA...

It actually makes me more interested if they have started converting the 'dust'. I don't want fractional shares of a bunch of coins I have no intention of keeping. I'll have to look into this further, thanks for the info.

They did. All dust is paid in BTC as I know.

Thanks for the analysis, still very young I suppose.

I use it every day.No bad words,its ok.

With so many platforms coming up its a wide choice for the consumers but only the best and the honest will survive

Looking good baby! Looking good!

Thanks @lexi for intro on a great project... I'm super interested in decentralized exchange... The concerns raised about lack of coins available for trade I hope will get remedied...

Also, can you answer a question of mine about this exchange?

Does being on a decentralized exchange mean no KYC or AML laws? It means we can just go in there with a wallet address and some crypto and have at it, without having to worry about whom we're dealing with, "counter-party risks" as you have eloquently put it, and more serious of all: prying eyes and meddling hands from peoples and entities who's business, our crypto activity is not?

Do these exchanges allow or provide a practical method for us to skirt or circumvent the laws that require us to doxx ourselves in order to acquire and trade crypto on the centralized exchanges, by providing an innovative and scientific alternative to the current paradigm?

cryptobridge is to slow, no payout from staking for now....! whats wrong? 2018-04-17_20h50_42.png

CryptoBridge is a decentralized exchange, and is a very vibrant market for #smartcash. I started to use a while back and its my best exchange for anything. They tend to have pairs you don't see any where else ie MUE/BTS

I love BridgeCoin and CryptoBridge. I'm so greatful for the staking opportunities. I really love the connection that it has to Bishares and Steemit regarding it's decentralized nature. They have some incredible deals that I have never seen before, like the opportunity to produced 100% of the value initially invested over the space if a year. Shoutout for the expose @lexiconical!!!

Great post you always have very interesting content. I think exhanges that offer a coin to invest in are great investments. Thanks I will look into this.

CryptoBridge is great exchange!
I trade smartcash, it's always fast and convenient!

Smart Cash is really doing great lately, right now CB is the best exchange for trading it seems. Hopefully a big exchange is not far off.

Crypto Bridge is a great up and coming exchange. Right now the lag is terrible with their nodes but you can run your own witness node fairly easily and then it works great. They have said they are planning an incentivized node program to try and get more nodes up and running in the future as well.

this is cool. I was always wondering the "dust" went and I like that it will come to us. It reminds me of the "crime" in Weekend at Bernie's where they they discovered the firm was skimming the 1/2 cents of peoples' paychecks.

It is always great to see a new DEX start its operations. We just need more and more volume to make sure orders are processed on a peer to peer bases instead of a centralized one. Good Job!!

Seems this cryptobridge will make exchange more easier and convenient. I will have to check it out

Its a good news for all steemer....good luck and nice information you shared in your post

bro Crypto Bridge maybe a good exchange site but i think old is gold. kucoin and binance are the most trusted site you could ever think. that's why still mot of the people use binance or other trusted site insted of Crypto Bridge

I just don't understand why they are paying you rather useless small amounts of every coin. I'd rather just get more Bridge coins to be honest.. it seems like more of a pain in the ass than it's worth this way.. xD

its really nice post @lexiconical i think your most of the post are amazing 👍😍

Did any of you actually used the exchange??

wow. thats awesome.

I am not exactly sure where but I have heard about this one already and at that time it seemed very exciting but somehow it has lost it's luster after a few weeks seeing more similar projects.
Though the idea of the tokens like the Kucoin shares makes this a step higher than other similar projects.

thanks for information, I didn't heard about it

Interesting article, subscribed, I hope for reciprocity!

Wow even better Cryptobrige is one of my favourite exchanges its gonna be a huge player in the cryptocurrency space.

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Great Great work CryptoBridge it's trading platform i really want to learn how to trade crypto-currencies

am I blind or no link? :o

not working for me atm (init-error)

I really like your article

💗Its a. good news:-$ for all steemer 😘good

😇good ?news for all💗 steemer good luck and 😆nice information you 😉shared in. your post💝🍭

I sold all my BTS a month or two back. I don't regret it per se, because I'm happy with what I bought in its place, but I DO wish that I still held it!

I like your contribution but also the way I develop the content and the way you edit each image, I always follow you to learn every day ... thank you brother keeps it up,

Nice content and well articulated.. You can also read my review "Revolutionizing world energy" it worths reading.

I love DEX. It makes ICO team be more responsible when unlock their token after ICO.

Vote back me

Muy interesante. Habrá que probarlo!! ¿En qué se diferencia de otros "exchanges" descentralizados?

Cripton adalah mata uang terbesar sekarang

I have been using cryptobridge for a month now. Admittedly giben the state of the market it has been more watching than trading! However I did just buy 1000 Smartcash yesterday and found the process to be seamless. I use Binance becaus eof the app mainly but like the idea of staking Bridgecoins and using a truely decentralized exchange.

Very interesting post friend thanks for such good information and good graphics

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