Decentralized Crypto Exchange Of the New Generation Venice Swap shapes a new concept of crypto exchange where an ecosystem of different applications will create a powerful shared one-stop crypto experience for end-users and traders
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Everybody loves crypto. Trading bitcoin, Ethereum, token, all kinds of cryptocurrencies and decentralized finance (DeFi). But how to find all the tools you need in one place? Whether you want spot trading or DeFi Swap, nobody offers you a one-stop trading experience. Till now. Venice Swap was born just to give you a one-stop crypto experience exchange and Swap.
In this article, we will look at an amazing crypto exchange of a new generation - Venice Swap, which was created for all the needs of a trader. Nowadays, we can say that in the crypto world, not the strongest, but the most decentralized survives. Let's get started. To begin with, let's figure out what decentralized finance is and why they are so important for crypto exchanges.
What is DeFi?
DeFi is a financial instrument in the form of services and applications created on the blockchain. The main task of decentralized finance is to become an alternative to the banking sector and replace the traditional technologies of the current financial system with open-source protocols. That is, to open access to decentralized lending and new investment platforms to a large number of people. And allow them to receive passive income from cryptocurrency assets, as well as save on commission fees for transfers, loans, and deposits.
Most of the existing defis are created on the Ethereum blockchain and the number of new applications in the field of decentralized finance is steadily growing. So, in early February, the number of Ethereum blocked on smart contracts of DeFi applications reached $938, according to the portal defipulse.com.
Despite the fact that the sector of decentralized applications is only developing, there are already quite a lot of advantages. The main thing is that any user can get a particular financial service, for example, lending, bypassing the bank. Decentralized lending protocols minimize risks and provide access to borrowed funds 24/7. New products are especially relevant for borrowers from countries with expensive bank loans.
The procedure for creating your own digital asset and putting it on the market has become noticeably simpler and accessible to almost everyone. Payment processing does not last for several days, but a maximum of a couple of hours, interest rates, and commissions have become much lower. Also, users have new ways to earn money on cryptocurrency.
With the advent of cryptocurrencies, the concept of "money" has acquired a completely new meaning, and the ability to make payments has appeared for everyone without exception, regardless of location and access to the banking system.
A logical continuation of the development and spread of cryptocurrencies was the emergence of an independent financial system, which is an open and transparent alternative to outdated centralized financial services that people around the world use today.
Blockchain and smart contracts have created a completely new paradigm of financial relationships between parties who do not trust each other, but at the same time have the opportunity to interact without intermediaries in the form of financial organizations. Thus, the concept of "transaction" when it comes to smart contracts and decentralized applications based on them involves a more complex interaction than just sending and receiving cryptocurrencies.
Key advantages of a decentralized financial system:
- Accessibility for any user, regardless of their geographical location, credit history, and other restrictions existing in a centralized financial system.
- Transparency of all operations in the blockchain. Also, all smart contracts have open source code, which can be easily audited and possible vulnerabilities identified.
- The flexibility of the software interface - the user can use any convenient interface offered by third-party developers or created independently.
- Openness (Permissionless) allows users to interact directly with applications through browser extensions (or software wallets) and also provides the ability to create their own applications.
- Interoperability provides amazing opportunities to combine new DeFi applications with existing services (like Lego), which interact with each other through universal protocols and can be combined to create completely new products.
What is Venice Swap?
Venice Swap shapes a new concept of crypto exchange where an ecosystem of different applications will create a powerful shared one-stop crypto experience for end-users and traders.
Venice Swap intercepts the needs of crypto users who don't want to jump between a thousand different sites: we provide them with more and more new tools over time to satisfy their trading desires.
Venice Swap will launch its Crypto Exchange and DeFi Swap in Q1-2022 and you can start now to apply for your account opening from veniceswap.com.
Venice Swap owes its name to the extraordinary history of the Most Serene Republic of Venice as a naval and mercantile empire, which between Rialto and Piazza San Marco invented the very concept of a modern stock exchange. Just as the Serenissima did in the past, today Venice Swap intends to shape a new concept of crypto exchange where an ecosystem of different applications will create a powerful shared one-stop crypto experience for end-users and traders.
Easy to use: An intuitive experience from the start. From day one, we designed and built a streamlined crypto exchange for newcomers and experts alike.
Payment options: The platform aims to provide you with low fees and various digital and fiat financing options to support your cryptocurrency investments.
High exchange limit: A market with high volumes and the top cryptocurrency can you trade in a few seconds.
Trade anywhere. And anytime: Compatible with every device and operating system, trade safely and conveniently. We accompany you step by step in your cryptocurrency buying and selling operations.
Awesome support: Got A Problem? Just Get Intouch. Our Support Team Is Available 24/7.
All these amazing advantages make this exchange absolutely competitive in such a large crypto market. This platform provides extensive opportunities for both a novice user and a real expert in the crypto industry. Already now it is worth thinking about becoming part of the community of this platform because very soon in February of this year the exchange will be open. At the opening stage, users will be able to receive additional bonuses and gifts.
VENICE is the utility token of the Venice Swap Platform used in all transactions related to distributed credits. VENICE is the cryptocurrency that powers the Venice Swap ecosystem. It follows ERC20 token standard on the Ethereum blockchain. Already today you can purchase this coin for functioning with the internal ecosystem of the site or for sale and purchase.
Security is one of the main parameters of all crypto exchanges and other crypto platforms and protocols. Each of us wants to feel safe and trust the server with which he works. However, nowadays it is quite difficult to find a platform that truly cares about its users, but Venice Swap has destroyed all prejudices and always puts the safety of its users first. Here is the comment was given by the platform's team about its security:
"Earning the trust of our clients has always been our highest priority. We earn that trust through the best security in the business — most of our crypto is held safely in cold wallets so bad actors can't reach it. Our platform provides world-class financial stability by maintaining full reserves, healthy banking relationships, and the highest standards of legal.
Stakeholders of Venice Swap DeFi app
Venice Swap app includes three types of users:
- Liquidity Providers (LPs): Individuals or entities who contribute ERC-20 tokens to common liquidity pools.
- Traders: individuals or entities who swap one token for another.
- Developers: individuals or entities who integrate with Venice Swap app smart contracts to power new and exciting experiences.
In total, interactions between these classes create a positive feedback loop, fueling digital economies by defining a common language through which tokens can be pooled, traded, and used.
Decentralized finance helps to use resources more productively, make services more accessible, and make the crypto world more secure. This crypto exchange has all the necessary functionality and unique tools that will allow users to do everything through one service, and not rush between tabs. Of course, this crypto exchange will still show what it is capable of, but in the meantime, you should definitely test it and join the community of people, traders of the future.Note: Investment in cryptocurrency is subject to risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.