Dex is the token of Coinbit Exchange based in Korea. It was created on October 24 in partnership with Hexa an Isareli Blockchain Firm. The Exchange was launched on May 11 this year. It has become very popular among the Korean Trading scene since it charges very low trading fee.
Dex is the official token of Coinbit Exchange. It is a ‘Mining Exchange Token.’
The traders are given reward on their volume of trading on Coinbit in form of Dex. It was created to have sustainability of Coinbit Exchange and share the profit made by the exchange with its users. Coinbit has listed more than 50 coins including the BTC and ETH. The popularity of Coinbit will also be enjoyed by Dex. It is an Ethereum based token. Out of the 188,499,752,997 tokens created initially, a very small proportion is currently in the circulation.
The advantages of this ERC20 token is that it gives the user the benefit of fee reduction in trading. As it is an Ethereum based token, DEX gains the benefit of popularity, speed and security o0f the Ethereum network. The traders at the Coinbit are indirect investors of DEX. To earn the DEX, the investors have to trade a specific volume at Coinbit. This reward fluctuates according to the changes in the total volume traded on the Exchange.
It is difficult to trade on Coinbit as it is a member only platform and it is mandatory to have a Korea based phone number and valid ID. This makes it a bit difficult for the foreign nationals to trade on Coinbit. The foreign nationals living in Korea can sign up for free but the ones who don’t have to send their passport and visa documents via email.
Value of Dex in terms of US Dollars is now $0.361115 and is up by 18.36% in last 24 hours. The Volume of trade is $1,613. The DEX/BTC ratio has gained 10.51% in a day’s trade. The Market Cap of Dex now is around $69 million according to the data from CoinMarketCap. The gains are quiet profitable as the prices on October 30 was $0.070.
The price of Dex had reached $0.70 in November. The lowest was around $0.11. The RSI, MACD are giving neutral signals on the 24 hour scale. The chart below shows the 24- hour price fluctuations in terms of US Dollars. The price was around $0.30 on December 28 and went up to $0.37, today at 11.00 UTC.
The token can be traded at CoinZest, DigiFinex, IDAX and Allbit exchanges other than that of Coinbit.