DeversyFay is a decentralized exchange that barely launched in 2019, but is already one of the most DEX most popular in the crypto industry. It is a powerful engine, capable of processing over 9,000 trades per second, but it also offers attractive prices for the supported trading pairs. This DeversyFay reviews presents everything you need to know about this exchange, as well as an overview of the services and fees it applies.
What is DeversyFi?
At the beginning of its existence, the exchange was based on Ethereum through Effinex. In 2019, the platform was relaunched by Bitfinex Exchange and has since had thousands of users around the world. It is completely independent and equipped with a high-speed engine that allows it to perform over 9000 transactions per second thanks to the launch of DeversiFi 2.0. According to some articles, this update allowed the integration of StarkWare’s zkStark two-level scaling technology.
Offering nearly 13 crypto trading pairs and supporting eight cryptocurrencies, the platform is known for offering the best prices for crypto trading pairs. The DEX also has high monthly traffic and over $1 million in daily trading volume. Moreover, the information obtained from the site is consistent with the fact that it is currently one of the leading DeFi token exchanges in the cryptosphere.
decentralized trading platform DeversiFi allows you to buy, sell and exchange multiple cryptocurrencies at ultra-competitive rates, if we talk about the market average. It has several characteristics:
Wallet for self-service
to be Wallet for self-service, the exchange does not control the assets of its users. They carry out their own transactions on the platform and remain the sole custodians of their private keys. Thus, they control their keys and therefore their funds.
DeversiFi is an order book platform where investors can securely place buy and sell orders. They can also get an idea of market trends and prices. Please note that the exchange also offers liquidity pool associated with external liquidity providers.
DeversiFi stores cryptocurrencies on the Ethereum (eth) blockchain using smart contracts. Transactions are executed instantly on the network in a secure way.
How to open an account with DeversiFi?
Unlike most cryptocurrency trading platforms, DeversiFi does not require registration on the site. Users also do not need to go through KYC procedures. All you have to do is connect to your external exchange wallet to start trading. Here are the steps to follow in order to open an account on DeversiFi :
- Go to the site and click “Get Started”
- In the drop-down menu in the upper right corner of the main page, select the selected crypto wallet,
- Connect your wallet to the exchange,
- Make your first deposit
- Start trading cryptocurrencies.
What features are available on the DeversiFi platform?
DeversiFi offers several interesting features. Whether you want to trade tokens directly from your wallet, cryptocurrencies or invest, it is possible on the platform. As proposed features we have:
Access your website on the go with trading application conceived and designed for smartphone users. The application can be downloaded from the Google Play and App Store platforms, but can only be used with the Metamask Mobile wallet (Android or iPhone).
You can trade between any of the 1000 coin pairs listed on the platform and keep your coins at level 2. You can also set a maximum slippage. The platform will alert you if your trades may affect the market.
There are no entry barriers or hidden fees. All transactions on DeversiFi do not require gas. The exchange also supports all levels of transactions, from simple swaps to more complex APY transactions.
You can also earn on trading commissions. All you have to do is invest in high yield assets and earn interest. In particular, your funds are returned to the pool, and along with this, you can receive regular income.
Deposit tokens and earn up to 19% per annum in stablecoins. For example, if you invest $10,000 and keep it on the platform for 10 weeks, you can earn $365 in income.
Payment methods accepted on DeversiFi?
There are currently only two payment methods accepted on the platform. In particular, you can choose between bank transfers and cryptocurrency deposits. While there are no fees for deposits and withdrawals in fiat currency, you still need to consider the fees charged by your bank.
Payment methodMinimum depositMin. conclusionTime limitbank transferN/AN/Afrom 8:00 to 12:00CryptocurrencyN/AN/AInstantaneous
Fees charged by DeversiFi
In terms of fees, the rates applied to taker/maker orders remain fairly affordable, as are swap fees. There is no commission for depositing and withdrawing funds on the site. Well noted. Users still have to factor in gas costs. DeversiFi has no hidden fees, but the platform charges a flat fee for some services:
Commission for deposit and withdrawal of funds
Commission for depositing and withdrawing funds is not charged. The only cost associated with these types of transactions is the off-chain gas fee. However, they can change very quickly.
The transaction fee varies from 0 to 0.2%. Trade, buy or sell Bitcoin and other major cryptocurrencies. Fees are still very competitive compared to what most centralized cryptocurrency exchanges offer. You can also get discounts on brokerage fees based on your trading volume for the last 30 days:
- The taker fee is reduced when users withdraw funds from the order book and use them to trade on the platform. They start at 0.15%. This remains attractive compared to the market average. The larger the volume of transactions, the lower the commission.
- Maker fees are reduced when users place limit orders to ensure liquidity in the order book. Here, the commission starts at 0.20% and decreases as trading volume increases.
On the other hand, swap fees follow a flat rate. It is 0.30% and you should be aware that the platform also charges transfer fees. In particular, the rate depends on the sent tokens.
DeversiFi Native Token Reviews
The native API token is DeversyFi Token (DVF), which has a starting price of $3.96. Tokens in circulation are valued at 2,000,000 coins, or almost 2% of the total.
Since the launch of the DeversiFi Launch Market (DLM), there are currently approximately 824 native API token holders. Users can use DVF for various services offered by the platform and stake DVF tokens to earn xDVF rewards. These are governance tokens, so their owners have a say in decision making.
Is DeversiFi a secure exchange?
Traded funds are protected by smart contracts. Among other things, these smart contracts are designed to provide transparent and secure transactions. Even if the website is down, users can recover their assets by contacting the Data Accessibility Committee.
The platform also has an insurance fund of 1001 ETH in Nexus Mutual. This promises users an additional layer of security and helps them trust the exchange more. In fact, the fund seeks to protect investors’ assets in the event of a smart contract failure.
Finally, it is interesting to note that DeversiFi is always looking to improve its offerings and services. Most importantly, users can share privately and, most importantly, securely.
Advantages and Disadvantages of the DeversiFI Scholarship
Find the strengths and weaknesses of the DeversiFi decentralized trading platform in the following table.
Ability to trade directly from an external wallet
Limited Cryptocurrency Offer
Instant order execution
Interface less suitable for beginners
Significant liquidity reserve
No need to register to trade
Conclusion: Is DeversiFi a Trusted Exchange?
Finally,DeversyFi API recommended for automatic trading of cryptocurrencies such as Ethereum and Bitcoin. It offers a wide range of interesting tools and features, and the security is top notch. However, the choice of supported payment methods and tokens is very limited and has minor issues. In our opinion, DeFi Swap is an alternative worth considering.
Frequently asked Questions
DeversiFi allows investors to take advantage of DeFi opportunities by keeping a close eye on news and developments in the industry.
Yes, the exchange has mobile applications that can be downloaded from the App Store and Google Play. However, please note that not all mobile wallets are compatible with the mobile version.
Oh, by the way, customer service provides very professional answers and quality support to those who need help. Specifically, clients can contact the team via email or live chat on the website.
A lover of trading, especially online trading, I spend hours analyzing the stock market and its possibilities. I started with a regular job, accounting. Gifted with numbers, I quickly became interested in trading, at first in a personal context. Then I decided to make it my job by working for DigitalBusiness.fr.
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This document is provided to you by Alvexo for informational and educational purposes only and does not constitute financial advice or an investment proposal.