Decentralized Exchange

Waves Decentralized Exchange (DEX)

Overview

Legal NameWaves Decentralized Exchange
HeadquartersMoscow
CEOGadi Ruschin
Year Founded2017
Exchange TypeDecentralized
Trading FeesMaker & Taker: 0.003 Waves per transaction
Deposit MethodsWire Transfer and Credit cards
Supported CryptosBitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Waves and more
FiatUSD, Euro, Turkish Lira
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

One of the most successful blockchains in terms of crowdfunding campaign results, Waves DEX has managed to advance itself towards the top decentralized exchanges in the market.

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The Waves platform was developed in 2016. It has since become the only working decentralized exchange built on blockchain technology. 

In this guide, we will look at what exactly makes Waves DEX stand among so many other exchanges and also view its other features. Let us look into this Waves DEX Review now,

What is Waves DEX?

Waves Exchange is a hybrid crypto assets exchange that allows users to transfer, trade, issue, and stake cryptocurrencies. The platform combines the security of decentralized systems with features and advantages of conventional centralized exchanges.

Waves Exchange offers fast and secure trading instruments, low costs, an API, and a mobile app. It has access to BTC, ETH, LTC, WAVES, USDT, XMR, and many more assets, including 30k+ tokens on the Waves protocol.

Waves DEX was developed by Sasha Ivanov.  The exchange aims to go further than just providing an efficient decentralized network, and create a new revolutionary platform.

Waves DEX Features

  1.  Decentralized Exchange: The most basic feature of trading on the Waves Platform, as opposed to another exchange, is the fact they are decentralized. This means your coins can not be accessed (or stolen) from the people running the company.
  2.  Charting by TradingView: The actual trading platform provided by the current iteration of waves is very intuitive. Furthermore, it features one of the best charting packages available.
  3.  Low and fixed fees: Another rather unique feature of this exchange is the way trading fees are structured. There is a fixed fee of 0.003 WAVES on all orders. With the current price of a single token being around 7.45, this is slightly more than 2 cents per trade.
  4. WavesDEX Mobile Trading: The WavesDEX is fully compatible with mobile devices through the web-based interface. All the same, features are utilized in the mobile version and the interface looks and feels the same.

Waves DEX Fees and Limits

This decentralized exchange does not charge different fees between takers and makers. Their fee model is instead called a “flat fee model”. Waves DEX trading fees are 0.003 Waves per transaction. This is approximately 0.44 cents (USD 0.004412).

Withdrawals are charged with the extremely low fixed per-transaction fee. At this particular exchange, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.

Waves DEX Supported Currencies

Waves Platform supported assets can be listed below:

  • WAVES (Waves)
  • ETH (Ethereum)
  • LTC (Litecoin)
  • BTC (Bitcoin)
  • ZEC (ZCash)
  • BCH (Bitcoin Cash)
  • DASH (Dash)
  • XMR (Monero)

The Fiat currencies supported in Waves DEX are as below:

  • EUR
  • USD
  • TRY

Waves DEX Mobile App

There is a Waves DEX mobile app on both Google Play and the iStore, free of charge. The app allows you to trade, access your wallet, fund your account, receive notifications, and check your transaction history.

waves-mobile-app

How to register on Waves DEX?

How to recover the Waves DEX password?

In cases where you have to recover the Waves DEX password, Go to the waves login and  Click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password. 

waves-recover-password

How to deposit on Waves DEX?

  1. Step 1:

    log in to your account and select the Investment screen.

  2. Step 2:

    Tap Staking to go to the Staking tab.

  3. Step 3:

    Tap Deposit to open the Deposit pop-up screen.

  4. Step 4:

    On the Deposit pop-up screen you can see your available balance and the amount of fee for the deposit operation.

  5. Step 5:

    To continue, specify the amount to deposit and tap Deposit.

  6. Step 6:

    On the next screen tap View Details to review the transaction details or tap Okay to close the pop-up.

How to withdraw on Waves DEX?

  1. Step 1:

    log in to your account and select the Investment screen.

  2. Step 2:

    Tap Staking to go to the Staking tab.

  3. Step 3:

    Tap Withdraw to open the withdrawal pop-up screen.

  4. Step 4:

    On the Withdrawal pop-up screen you can see your available balance and the amount of fee for the withdrawal operation.

  5. Step 5:

    To continue, specify the amount to withdraw and tap Withdraw.

  6. Step 6:

    On the next screen tap View Details to review the transaction details or tap Okay to close the pop-up.

How to buy cryptocurrencies on Waves DEX?

  1. Step 1:

    log in to your account, Navigate to the Trading tab.

  2. Step 2:

    Select a trading pair from the list to open the market.

  3. Step 3:

    Select a pair to work with and at the bottom right of the interface, select Market Order or Limit Order.

  4. Step 4:

    In the Limit price field enter the price of the currency.

  5. Step 5:

    In the Amount, field enter the amount of currency you want to buy

  6. Step 6:

    In the Total field review the total amount of the order.

  7. Step 7:

    In the Fee field select the type of currency to pay the trading fee (Waves, BTC, ETH, TDX).

  8. Step 8:

    The placed order will appear in My Open Orders tab and in Order Book. All the executed orders are available in the My Trade History tab. buy-cryptocurrencies-on-Waves

How to sell cryptocurrencies on Waves DEX?

  1. Step 1:

    log in to your account, Navigate to the Trading tab.

  2. Step 2:

    Select a trading pair from the list to open the market.

  3. Step 3:

    Select a pair to work with and at the bottom right of the interface, select Market Order or Limit Order.

  4. Step 4:

    In the Limit price field enter the price of the currency.

  5. Step 5:

    In the Amount field enter the amount of currency you want to sell.

  6. Step 6:

    In the Total field review the total amount of the order.

  7. Step 7:

    In the Fee field select the type of currency to pay the trading fee (Waves, BTC, ETH, TDX).

  8. Step 8:

    The placed order will appear in My Open Orders tab and in Order Book. All the executed orders are available in the My Trade History tab.
    sell-cryptocurrencies-on-Waves

Waves DEX Pros and Cons

Pros

  • Decentralized exchange running on blockchain technology
  • Low and competitive fees
  • Various digital assets to trade
  • User-friendly
  • Fiat payments allegedly accepted

Cons

  • Very high markup on Credit Card Transfers
  • No margin trading
  • No fiat currency withdrawals
  • Low liquidity
  • Tokenized environment

Conclusion

The Waves DEX is an excellent decentralized exchange in the cryptocurrency space. The exchange is one of the most developed exchanges in the industry and is gaining more and more adoption as time goes on.

The exchange offers an intuitive and well-designed trading platform and is running on a very safe and secure blockchain technology. This helps to keep the user’s funds safe and reduces transaction fees.

The Waves DEX is revolutionizing the cryptocurrency trading industry and is a very secure platform to be a part of it.

Also read: Localbitcoins review | Coindeal review | FatBTC Exchange | BitStamp Exchange | eFin Exchange

What do you think of the Waves Dex review? Please share your views on our Twitter and Facebook pages.

Recent Updates

  • On April 15, 2020, Russian Ministry Adds Waves Enterprise Blockchain Platform to Official Registry
  • On April 30, 2020, Blockchain Platform Waves Exchange Launches New COVID-19 Betting Market
  • On June 15, 2020, Waves Wants to Put an End to Bogus Blockchain Speed Claims.
  • On June 23, 2020, Waves Association founder Sasha Ivanov warns that decentralized finance’s surge might have negative consequences.

Waves DEX FAQ’s

waves - 8.2

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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