Cryptocurrency is fast gaining momentum and major financial institutions are keying into this currency of the future. Cryptocurrency exchanges are platforms where different cryptocurrencies can be bought or sold. There are two major types of cryptocurrency exchanges; the centralized exchanges (also known as cex) and the decentralized exchanges (often referred to as dex).
Centralized exchanges are popular for being able to trade all kinds of crypto coins over different blockchains. However, they have a lot of shortcomings which I will tell you about in this blog post. Barely a month ago, there was a hack on Cryptopia; one of the leading centralized exchanges we have today. Unconfirmed amounts of investors assets were carted away by hackers which is untraceable today. This is possible on a cex because users can only trade on the exchange when they signup and deposit their coins or tokens to the exchange. Doing that means risking their investments as it becomes prone to hacks and even manipulations. There is also an issue where hackers can steal your personal data. Centralized exchanges usually require their customers to sign up and pass KYC checks before they can withdraw their funds. This leaves vital private documents like ID cards, international passports, driver’s license, bank account statements and even signatures at the mercy of the exchange’s staff who may mishandle the documents. Criminals can also breach the platform and steal this information only to use it for criminal acts or sell it at high price to unscrupulous elements.
Using a decentralized exchange saves you from all this trouble and one of such dex is Tokenmom. Tokenmom is a new decentralized exchange that operates on the Ethereum blockchain and as such, it can be used to trade all types of ERC20 tokens. With Tokenmom dex, you can access the exchange without needing to sign up or fill long registration forms. All you need is to connect your ERC20 wallet via metamask to login on Tokenmom. Since you login through your Ethereum wallet, it means you can buy or sell tokens directly without having to deposit your coin or tokens first. This ensures that your assets are safely lodged in your wallet. Any transactions done on Tokenmom is done using your private wallet. Even if Tokenmom is breached or hacked (which is almost impossible), the hackers can never get a sniff of your tokens because it is securely stored away in your personal wallet which only YOU have access to. There is no need to withdraw on Tokenmom dex because after each transaction, your asset or coins go directly to your wallet. As an added incentive, whenever you trade, you get 100 TM for FREE. If you introduce and bring in your friends to use Tokenmom dex with your referral link, you will get rewards. Whenever your friend trades, you get 10 TM. You do not need to provide any personal details or private documents because decentralized exchanges like Tokenmom don’t require any KYC. Just login, trade and make profits on the exchange. It is that simple. To learn more about tokenmom dex, be sure to click on any of the links below.
website whitepaper telegram reddit twitter facebook medium linkedin bitcointalk ANN API document
Contract address: 0x554b520b298be389f0d87bf3376eb4d6510456ec
#Crypto #Exchange #tokenmom #Blockchain #ICO #altcoins
Author - Coltpython
Bitcointalk
