EXX is a centralized cryptocurrency trading platform founded in October 2017 with the aim to bring together all market participants, from regular users to large companies. Based in Hong Kong, it is operated by a holding company EXX Group LTD. The EXX team is making all efforts to create an autonomous, efficient, safe, and transparent exchange platform for global users. It is also trying to evolve it into a community-governed organization.
The EXX platform suggests a fair environment for investors conducting safe and profitable multi-currency trading, transparency of assets, high-yield dividends of token holding, carefully selected high-quality coins, and a processing speed of 5 million transactions per second.
The web version supports four languages: Chinese, English, Korean, and Japanese. Though EXX is primarily focused on Asian customers, it supports many other countries including the US.
With security being the primary concern EXX uses different verification types including Google Authentication, cold assets storage, multi-signature wallet, SSL encrypted traffic, geographically redundant cloud servers, real-time internal control to protect its customers’ funds and accounts from hacking, personal data thefts, artificial collapse, or DDoS attacks.
The EXX exchange is also available as a mobile application optimized for both iOS and Android-powered devices, so users can seize every opportunity to earn money by trading cryptocurrencies whenever and wherever is possible. The platform provides 24/7 online customer support.
To date, EXX offers over 40+ cryptocurrency trading markets including Bitcoin, Litecoin, and Ethereum. The EXX exchange provides a great number of services such as leverage trading, spot trading, margin trading, cloud mining, and OTC.
Leverage trading is available at EXX for a reasonable fee allowing users to trade futures contracts on the platform. EXX provides APIs for its spot markets with the following features: market data, depths of bids and asks, trade history, trade execution, order information, and order history. Cloud computing mining offers digital currency mining with three levels: beginners, professionals, and large mining.
EXX referrer contest allows earning the platform’s native token ET by inviting new investors. The lottery page gives the opportunity to win mainstream coins with USDT. Also, EXX has launched “100 Thousand Exchange Alliance”, a project encouraging EXX members to establish their own exchanges.
The trading view provides different charts, including the price change of the chosen token for the past twenty-four hours, buy and sell boxes, shows the order book, order history, the current entrust, and the volume information. The EXX trading page allows users to customize their trading charts by choosing bars, candles, lines, and other indicators for technical analysis of the financial markets.
One of the important features of this exchange is that it allows users to create up to 10 sub-accounts thus having the opportunity to split invested funds and manage all cryptocurrencies holdings under one main account. The sub accounts cannot be deleted.
The EXX trading platform allows only cryptocurrency deposits. So new investors who want to enter the crypto world can use an entry-level exchange, which allows fiat deposits, to purchase the necessary digital assets and then deposit and trade them on EXX exchange. The trading fees are equal to 0.2% of the traded amount for both makers and takers that is quite in line with the industry average.
Withdrawal fees are also percentage based and make 0.2% of the withdrawn amount. With this fee model, it is beneficial to withdraw small amounts because for large withdrawals, the fees become extremely high. Maximum withdrawal limits per hour and day vary depending on the cryptocurrency.
ET is the utility token issued by the EXX exchange to reward community members, granting them membership and management rights. Users can get ET through the process of transaction mining or buy it via exchanging. It is worth noting that the ET token is traded only on the EXX exchange.
The membership selling was held on July 9-21, 2018. The total number of issued ET is limited to 10 billion coins and will never be increased. The coins are distributed in the following way: 45% were locked in advance for the transaction mining, 44% are issued to the participants through membership selling, 6% were left for the EXX fund, and the remaining 5% are held by the founding team.
ET holders benefits
Holding ET coins brings users some tangible benefits such as fee refund, revenue distribution, and decision-making and election rights. The mechanism “transaction is mining” implemented by EXX means that users get a fee refund in the form of ET when they make transactions with specified tokens. 45% of the total ET coins issued are gradually unlocked on a daily basis to be used for refunds. Once the 45% are fully returned, mining will be automatically terminated. The conversion rate is determined by the average ET price in the current hour.
The EXX platform distributes 80% of its revenue from transactions to ET holders in proportion to the amount of their ET holdings, and 15% serves as rewards for promotion campaigns. ET holders have decision-making power over the major issues by initiating smart contract voting. They have the right to monitor the transparency of the platform, participate in the community election supervision, and manage team elections. EXX community committee members are elected for limited periods. ET holders also decide and vote for token listings. All voting data is recorded in the blockchain thus becoming irreversible.
EXX team and partners
There is no information about the people behind the exchange on the web. According to the EXX project’s whitepaper, it has an international team with years of experience in cybersecurity, blockchain industry, financial technology, creating and running websites, and digital asset operation.
So far, EXX has gained strategic partnership with such companies as ZB Capital (a token fund for investments in blockchain projects), LinkVC (a venture capital investing in blockchain technology and cryptocurrencies), Blockchain Ventures (a venture capital fund), and CollinStar (a company that provides digital asset management and blockchain investment services). EXX.com has also partnered with QUOINE, a global fintech firm, to support the development of a borderless liquidity pool QUOINE LIQUID.