IDEX, a decentralized cryptocurrency exchange, has revealed that it has brought in another $2.5 million in an investment by G1 Ventures and Borderless Capital, as well as some funds from Collider Ventures and Gnosis, according to a press release put out by Pulse 2.0.
The group’s newly received funding will go toward launching what it calls IDEX 2.0, a “novel high-performance DEX,” the release also states.
This exchange should be as fast and easy to use as a normal exchange, while offering the security of a decentralized one. The latter type of exchange generally offers less latency thanks to what they call “on-chain execution.”
Speaking on the matter is Alex Wearn, the co-founder and CEO of IDEX, who said:
“We are thrilled to have the support of industry expert investors to help fuel IDEX 2.0’s growth. Our investors share our understanding that market makers and algorithmic traders are key to our success. Attracting this group requires us to deliver an entirely new product that offers centralized exchange features and performance paired with decentralized security. We’re extremely excited to deliver that with IDEX 2.0, the first DEX that doesn’t sacrifice performance for security.”
Author: By TeamMMG
Apex Crypto News – No One Knows Why Binance.US Is Down Right Now
Binance.US, the United States branch of major crypto exchange Binance, went down unexpectedly on Aug. 7 around 15:26 UTC time.
“At 11:26am EST, we noticed our systems not functioning as intended,” BinanceUS tweeted on Aug. 7.
The tweet added:
“To protect our users, we will be stopping trading, order processing, buy crypto, deposits, and withdrawals. We will let users cancel their orders 30min before we reopen trading. We expect this will take 6 hours.”
The platform followed up with a subsequent tweet, confirming all funds as insured, protected by the company’s Secure Asset Fund, also known as “SAFU.”
Cointelegraph reached out to Binance US for additional details, but received no response as of press time. This article will be updated accordingly should a response come in.
What is the exchange rate of USD (US Dollar) / CNY (Chinese renminbi) on Friday August 7, 2020
Get the latest mid-market rate for USD (US Dollar) / CNY (Chinese renminbi) for Friday August 7, 2020 right here.
The latest rates for USD (US Dollar) / CNY (Chinese renminbi) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest Forex Market data to bring you live information to help you make the right forex trading decisions.
Friday August 7, 2020 1 USD (US Dollar) is worth 6.960301 of CNY (Chinese renminbi) .
Remember to always trade with a reputable broker. It’s also possible to apply forex concepts to cryptocurrency trading.
Forex trading is inherently risky and there are countless forex pairs to choose from. The only way to make a profit from forex trading is to understand how the market works. Luckily for you the Born2Invest forex team has collated some forex trading tips to get you started.
Forex trades are always made using currency pairs. Whenever you buy one currency you are selling another. In every pair there is a base currency, for example USD (US Dollar) and a quote currency, which would be CNY (Chinese renminbi).
The price of a currency pair represents the amount of quote currency, or CNY (Chinese renminbi), that you will need to spend in order to purchase a single unit of USD (US Dollar), the base currency. So using the current example you would need to spend 6.960301 of CNY (Chinese renminbi) in order to purchase 1 USD (US Dollar).
Forex pairs can be broadly separated into three categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrency trading shares many similarities to forex trading. Specifically the concepts of currency pairs and high price volatility. That being said there are some key differences. Cryptocurrencies don’t operate like fiat currency and many are tied to a project or product. The crypto market is also highly unregulated, which makes it inherently risky compared to trading forex.
Additionally most cryptocurrency trades happen on exchanges. These are generally unregulated and come with a certain degree of risk that many investors would find unacceptable. One alternative is to trade using a CFD broker which allows crypto pairings, but this means you will not directly own and cryptocurrency you buy.