EQONEX exchange is a crypto trading platform launched back on the 26th of May, 2020. Under its Nasdaq-listed parent company Diginex, it operates in Singapore as a centralised exchange where crypto investors can buy, sell and trade their assets with each other.
Just like other exchange sites, EQONEX offers conventional trading methods, namely Spot Trading and Perpetual Features, each of which helps make every trader’s life easier. But what sets it apart from others are its sturdy governance and state-of-the-art technology.
The exchange also supports a wide variety of crypto tokens including the big ones such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and its native token EQO (EQO), among others. Additionally, it has a total of 10 trading pairs which makes it easier for users to trade their digital assets. Keep on reading to find out more.
What are EQO tokens?
Introduced back in April of 2021, the EQO token is the native coin of the exchange site. It’s compliant with the ERC-20 and was made under the Ethereum blockchain. These tokens are used in a variety of ways in the EQONEX network such as:
- Reducing trading fees
- Increasing interest rates.
Different features of EQONEX exchange
To provide a more convenient and seamless trading experience, EQONEX is equipped with the following features:
One thing that stands out in the EQONEX exchange is its sturdy governance. Every user on the platform, whether they be plain traders or those who provide liquidity to the market, will use the same trading information. This way, every user on the platform can make the best decisions depending on what they’re trying to achieve.
For the platform to work the way it does, it makes use of various innovative technologies. One of which is the API TestNet, an access service tool that plays a huge role in connecting with third-party authorities.
Products of EQONEX
The platform uses two different products to help its users become the best crypto traders they can be. These are:
Perpetual futures trading
EQONEX allows its users to engage in perpetual futures trading where they can trade without pre-specified delivery date. Usually, with trading, there’s an expiration date with every transaction and with this feature, users won’t have to roll over contracts as that specific date approaches.
If you’re looking to make a more immediate transaction, you’d be pleased to know that EQONEX exchange features spot trading. Here, users can directly purchase or sell their cryptocurrencies instantly with another trader.
This feature is often used to gain profit from price fluctuations in the market. Users can do this by buying crypto tokens during lower time frames and then making several yet small trades in the long run.
Keep in mind that spot trading values functionalities are based on the current average exchange volume.
Benefits of using EQONEX exchange
At first glance, EQONEX already seems like a reliable crypto exchange site thanks to its features and products. However, it further proves to be a great choice for trading your assets by providing various benefits for its users as well. This includes:
Easy to understand interface
One of the first and most important things that new users consider when choosing a new exchange site is its interface. Sometimes, these charts and numbers can get overwhelming which can cause the new user to not bother learning the interface and move on to another exchange site.
With EQONEX, you won’t be confused with what you’re doing as it’s designed specifically for customer satisfaction. Its products, services and other offerings are clearly and neatly presented to help avoid confusion.
Moreover, the simplistic design of EQONEX makes it easy for users to quickly grasp and get used to trading on the site.
Robust customer support
Another reason why EQONEX is considered a reliable exchange site is because of its strong customer support. They answer every user’s inquiry, regardless of what it’s about, so in return, they become confident in trusting the trading platform.
EQONEX exchange’s customer support is available through their email address, Twitter account and Telegram channel. Through the different channels made available by the exchange site, you can easily send your feedback, inquiries and complaints.
Helpful learning platform
Aside from the available helplines EQONEX provides, the exchange further helps users get a firmer grasp of the crypto world by offering a helpful learning platform. Found under the ‘Learn’ tab on the upper side of the homepage, this section contains all the materials you need to get a better understanding of crypto, trading and anything in between.
Additionally, you’ll also find tips that can help you make better decisions when it comes to trading your digital assets.
Strong sense of community
The great thing about EQONEX is its strong sense of community which can help you learn more about the latest trends in trading as well as become a better trader overall. You can find this on the website’s community page where other crypto experts share their experiences and views on the market.
By having access to expert opinions, you can change the way you manage your trades on the EQONEX network.
Pros and cons of EQONEX
Although the EQONEX exchange proposes a lot of advantages, there are some cons you need to know that may balance the scales. To help you weigh your options better, here are some of the basic pros and cons of using EQONEX:
- The platform supports wire transfers
- It works outside of Singapore’s Payment Services Act
- It has an easy registration process
- The user interface is easy to understand
- It offers perpetual and spot trading.
- It doesn’t support credit card transfers
- Its capital benefits don’t affect US crypto holders
- The website itself isn’t equipped with full autonomy.
How to start trading on EQONEX?
Trading on the EQONEX exchange is simple. To start, all you have to do is head to the spot trading section found on the homepage of the website where you can authorise trading activities.
Once you’re there, you’ll be asked to activate your wallet and choose to either withdraw or deposit into your account.
Then, in the order book, you’ll be given a choice between three options: Spot Trading Orders, Market Orders and Limit Orders. Each of these order books offers all the available orders that are currently in the market trade for you to see and access. You can then authorise them through a Time Form option.
Should you invest in EQONEX?
EQONEX exchange is a reliable trading platform that offers conventional trading methods such as Spot Trading and Perpetual Futures. Moreover, it presents tons of benefits for its users including a robust customer support service and more importantly, an easy to understand interface that can help you with your trading experience.
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