EDX Markets: A New Dawn in Cryptocurrency Trading

From the Digifinex blog.

The world of cryptocurrency has been shaken by the launch of EDX Markets, a revolutionary cryptocurrency exchange. Coin bulls are roaring as Bitcoin bursts through the $28,000 barrier for the first time in three weeks.

An Entrance Backed by Titans of Finance

On Tuesday (20th), EDX Markets, supported by financial giants like CharlesSchwab, Citadel Securities, and Fidelity Investments, made a grand entrance into the world of cryptocurrency. This new cryptocurrency exchange is set to challenge existing norms and establish a new way of conducting crypto transactions.

(Image via Fintech Finance News

A Focused Approach to Crypto Trading

Unlike other crypto exchanges such as Coinbase and Binance, EDX Markets currently offers trading in only four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). By steering clear of numerous cryptos deemed securities by the U.S. Securities and Exchange Commission (SEC), EDX differentiates itself from competitors.

(Image via Cryptopolitan

Aiming to Bypass Direct Customer Handling

EDX Markets will not directly handle clients’ digital assets or provide services to individual investors. Instead, it will function as a stock exchange, similar to the New York Stock Exchange. This cautious approach to listing cryptocurrencies is intended to help EDX avoid conflict with the SEC.

Reinventing Crypto Exchange Operations

At present, most cryptocurrency exchanges require customers to deposit their digital currencies in wallets managed by the exchange. This not only puts the funds at risk of being lost but also misused, as in the case of FTX founder and former CEO Sam Bankman-Fried’s illegal misappropriation of customer funds, resulting in billion-dollar losses. EDX Markets’ unique operational model brings a breath of fresh air to the crypto market, signaling a shift towards a safer trading environment, stricter regulations, and enhanced investor protection.

Bullish on Bitcoin

Apart from the positives brought by EDX Markets, cryptocurrency analysts are bullish about Bitcoin’s future. The coin’s volatility has found stable support, and as long as it remains within the $26,160 to $26,970 range, it has a high chance of reaching new annual highs.

(Image via TradingView

At the time of writing, Bitcoin had risen to $28,766.11, with a 24-hour increase of 6.94%. From its annual low of $16,496 on January 1, Bitcoin has risen by 71%. Ethereum, on the other hand, has increased by 4.42% to $1,811.56.

Keywords: EDX Markets, Cryptocurrency Exchange, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, CharlesSchwab, Citadel Securities, Fidelity Investments, U.S. Securities and Exchange Commission, New York Stock Exchange, Investor Protection

This article came directly from the Digifinex blog, found on https://blog.digifinex.com/2023/06/21/edx-markets-a-new-dawn-in-cryptocurrency-trading/

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