Paradex of Coinbase Sees New Upgrades
On the 14th of August, Coinbase made an announcement revealing that its decentralized exchange platform, Paradex, has received a new update with plenty of new features including the support of additional cryptocurrencies like the Binance Coin (BNB) and TUSD coins. In a post on Twitter by the chief executive officer of Coinbase, Brian Armstrong, stating that the company was getting closer to its goal of a publically open financial system.
Jacob Horne, the platforms Product Lead, spoke about its plans and goals and why the platform should be used by traders, including its newest features provided by the update. He says that the team aims at creating a new global system, an open financial one. According to him, the company believes that anything and everything can and will be tokenized and that through this, millions of tokens will be able to support their respective communities in unprecedented methods.
Jacob continues saying that these tokens will contribute in several ways and provide many use cases and can be integrated into everyday products as well as many of the services that users experience. Essentially what Paradex will do is introduce a price-attribution method due to the fact that even though each token may provide different uses, each token still requires a value placement and an open market.
Paradex will then make the entire process of buying and selling tokens incredibly easy for users. He states that the markets are a vital aspect of any token and the platform is dedicated to creating an environment that’s easily accessible and secure, as well as trusted.
Jacob Horne provided several reasons as to why using Paradex is better and more beneficial. According to him, Paradex enables instant and direct trading from a user’s own wallet without the need to deposit funds, pay a withdrawal charge or limits that have been placed.
Paradex also boasts the latest and top class matching system which means that each user will always be presented with the best price of a token. The platform is also incredibly easy to access and use, available through the internet, a phone applicant or through any of the application programming interfaces. No fees will be charged for any open order cancellation. DAI stablecoins will also be tradable with BAT, REQ or NT.
Additionally, instant access to prices and a quick, seamless transition between markets is available with the platforms “speed dial” feature and a mobile app will consistently be available for use.