Currently, crypto exchanges are believed to be lacking in the necessary security to effectively protect deposits.
Since many exchanges create their own terms and rules, participants must succumb to acts of faith and are left with no legal rights.
Surprisingly, at least to those new to the cryptoworld, many exchanges do not accept fiat deposits. Those exchanges that do accept fiat often cap the amounts and limit them to 24 hour intervals. Additionally, the lengthy transfer times prove even more problematic in an understood volatile market, where timing is everything.
The act of front running enables price manipulation on an exchange based on the knowledge of upcoming transactions. This can deter large investors from using a crypto exchange.
A big feature of the Legolas Exchange will be the ability to offer fiat custody solutions for customers at major banks. The conceivably simple yet currently lacking option to convert fiat currencies into cryptocurrencies and back again in large quantities, will be a game changer for the crypto community. This will no doubt invite a massive influx of new trading.
Legolas Exchange will use its own LGO tokens instead of bitcoin or any other form of cryptocurrency for all trading transactional fees incurred on its platform.
Legolas will also offer customers unique analytical functionalities including research, analysis, statistical calculations and recommendations amongst others, which again will all be made purchasable using their LGO tokens.
Legolas Exchange intends to protect and uphold its upcoming system and aims for transparency by providing an auditable trade history and order book, with real time proof of reserve and complete reporting. âSince all usage fees within the Legolas exchange uses LGO, there will be much demand for them as the exchange gains rapid momentum in the crypto community. After the public sale, there will be no more tokens generated. Founders will have their share of tokens locked for one year and then released monthly over the following year to ensure interest and intent alignment.
*Please understand that the information on this site does not constitute financial advice in any way.
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