Decentralized Exchange

OpenLedger Dex

OpenLedger is a Bitshares Dex based in Denmark. You do not require registration or KYC to run an account there. Currently, the exchange has a volume of around $1,406,530 and therefore doing really well. It allows trading, storage and sending of about 125 cryptocurrencies. You are also able to trade about 63 pairs.

In addition to this, the company runs an advertising technology called HubDSP, tokens called OBITS, and a crowdfunding system called ICOO. Thus, it consists of an ecosystem (“OpenLedger DC”) and the bases of the ecosystem are BitShares platform powered by Graphene. DC stands for Decentralized Conglomerate comprising of reward-based tokens, equity-based investments, and individual ecosystems.

Using HubDSP, buyers of digital advertising inventory can manage multiple ad exchange and data exchange accounts through a single interface. OBITS serve as the official tokens of the OpenLedger DC. With it, multiple organizations can join hands and directly invest in each other’s successes.

The crowdfunding platform, as the name suggests, has equity-based investing that allows people to launch and manage new coins or tokens.

The platform’s own token allows anyone to invest in the company initiatives.

How the dex works and benefits

Basically, it serves as a Bitshares web wallet with an inbuilt dex. The dex is accessible on the web browser. Account opening is done online on the website and is free where you choose a username and password.

The platform provides access to deposit, withdrawal and storing of both crypto and fiat funds. You deposit fiat or crypto by sending to an OPENLEDGER bank account and this amount appears in your OPEN.USD or OPEN.EUR account. The balance is same so long as no costs accrue from your side through the bank or other intermediaries. Minimum fiat deposits are $50 USD or 50 EUR for free but you pay 2 percent to deposit lesser to a minimum of $2 USD/2EUR/15 CNY.

Any withdraw of fiat-pegged assets — OPEN.USD and OPEN.EUR — to USD or EUR fiat attracts a commission of 3 percent based on a minimum of $100.

Trading happens as in any DEX where people create orders for clients to fill up. Creation fee is in BTS or other currencies. To sell, select the desired crypto on the OpenLedger DEX’s ‘Find Markets’ tab. It displays a currency pair exchange and you see all buy and sell offers on this page. You can also withdraw the new currency to other exchanges under DEPOSIT/WITHDRAW option.

See more instructions here.

Besides trading the company also suggest business solutions to all who wants to go to blockchain

Fees structure

The fees depend on the cryptocurrency and appear in detail here. Basically, the minimum ETH to deposit and withdraw is 0.01 and this attracts fees of 0.005 ETH.

The minimum of Bitcoin to deposit and withdraw is 0.0018 and that attracts a fee of 0.0009 BTC. It allows access of tablecoins (SmartCoins) including bitUSD, bitEUR, bitGBP, and Rubles – plus other OpenLedger tokens such as OBITS, BTC, and ETH.

Besides, you can also use it to purchase items at any store that accepts international payment cards.

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David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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