The choice between Centralized Exchanges (CEXes) and Decentralized Exchanges (DEXes) has been waging on for some time now. Anytime there is a security breach on an exchange, the debate over moving to DEX intensifies.
However, the school of thought that believes Centralized Exchanges are an anathema to the Crypto space is still conspicuous. This group thinks a decentralized domain should not have exchanges that run on a centralized premise.
The issue with decentralized exchanges has always been the fact that they have shortcomings, which make its usage inconvenient and not prudent. These factors include lack of liquidity, speed, among others.
Nevertheless, these lapses are now fading away with bunches of projects bridging that gap and providing alternatives to CEX in the DEX angle. It is remarkable to such projects transform the scene to give Cryptoshere what it truly deserves.
Atomex is one of the DEXs making a name for itself in the Blockchain ecosystem in recent times. It is a Multicurrency HD wallet with built-in hybrid atomic swap exchange. It comes with both desktop and web wallet with the same functional ability. The project merges the benefits of centralized and decentralized exchanges, which is security, speed, liquidity, and many more.
Atomex empowers its users to have private keys encrypted on their personal computers. Another needful feature is the capacity of cross-chain transactions employing atomic swaps.
Built by Baking Bad, it is delightful, to also know that there are no fees when you are trading with this platform. Traders only pay miner charge when it comes to regular and cross-chain transactions. With Atomex, you don’t need any registration or identity confirmation to use the exchange. Though, all addresses have to go through due diligence in terms of violations and questionable source of funds.
The counterparty here is not just a user; however, a trained market-maker with the responsibility to guarantee adequate liquidity for trading. It means that liquidity providers are always available to make sure you get what you want.
Atomex has a WebSocket API for wallets as well as market makers, with support for queries and synthesis. Therefore you can plug in your wallet and trade on the platform without handing over the control over your funds. It supports BTC, ETH, LTC, XTZ, USDT and tzBTC.
Additionally, you can make use of it to earning a passive income through staking. Currently, the system supports only Tezos, while very soon decentralized lending is going to be at your disposal as a service.
Staking Tezos on Atomex
Staking Tezos, which is known as baking on Atomex, is fortunately easy for everyone to do. The internal wallet allows you to stake Tezos through the Delegation function. According to the builders, if you use Babylon, then there is no need to download a KT-address to commit your XTZ to a Tezos baker. But you can delegate funds directly from your tz-address.
Moreover, one can delegate only all his/her XTZ coins from that tz-address and solely to one Tezos baker. Nonetheless, you can apply one mnemonic seed to generate an HD Wallet and formulate whatever the number of Tezos addresses and delegate to various bakers.
After delegating your coins, you can transfer funds any time you wish. It must be on record that delegated funds are not halted on the Tezos wallets accordingly, to delegate there is the need to deposit Tezos to the wallet and select a baking or delegation service for it.
The first step to staking is to log in to the Atomex wallet, then create a wallet and press “Wallets” to select “Tezos” and press “Delegate”. The second step is to fill in the delegate address or choose from the list provided on the platform.
At this stage, click on the TZ-address from which you require to authorize. After that, take a look at the “Use default fee” and figure out if it is correct, and click “Delegate”. The next thing is checking the accuracy of data on the Delegation approval page and push “Delegate”, which takes one to two minutes for it to process by the Tezos blockchain. At the final stage, that is the “Update” button, and you can find the delegation in the window of the Tezos wallet.
Join Atomex Community
Atomex has growing communities on various platforms that are a good start to engage the community, and the team to expand your understanding of the project. Find them here:
For those of you who are technically savvy and interested in verifying the source code, here you are with the Github.