BEMEX is the brand new product of<a href="https://beminfo.io" rel="noopener noreferrer nofollow"> BEM foundation</a>, the parent company of BEMT, a decentralized exchange with unique properties that will amaze you. Here we give you a brief introduction of decentralized exchanges with some hints from capabilities of BEMEX as a one.<h3 id="strong-dex-in-a-nutshell-strong">DEX in a nutshell</h3>DEX stands for decentralized exchange and is a cryptocurrency where traders make their transactions directly and peer-to-peer without handing over their fund&#39;s management to an intermediary or custodian. These transactions are done with help of smart contracts (a self-executing code written to implement the agreements automatically), so there is no requirement for a third party to oversee the performing of the trade in a specific exchange.<h3 id="advantages-of-using-a-dex">Advantages of using a DEX</h3>Trading on decentralized exchanges can be expensive, especially if network transaction fees are high when the trades are executed. Nevertheless, there are numerous advantages of using DEX platforms.<ul><li>Token availability: Centralized exchanges have to individually vet tokens and ensure they comply with local regulations before listing them. Decentralized exchanges can include any token minted on the blockchain they are built upon, meaning that new projects will likely list on these exchanges before being available on their centralized counterparts.While this can mean traders can get in as early as possible on projects</li><li>Anonymity: When users exchange one cryptocurrency for another, their anonymity is preserved on DEXs. In contrast to centralized exchanges, users do not need to go through a standard identification process known as Know Your Customer (KYC). KYC processes involve collecting traders’ personal information, including their full legal name and a photograph of their government-issued identification document. As a result, DEXs attract a large number of people who do not wish to be identified.</li><li>Reduced security risks: Experienced cryptocurrency users who custody their funds are at a reduced risk of being hacked using DEXs, as these exchanges do not control their funds. Instead, traders guard their funds and only interact with the exchange when they wish to do so. If the platform gets hacked, only liquidity providers may be at risk.</li><li>Reduced counterparty risk: Counterparty risk happens when the other party involved in a transaction does not fulfill its part of the deal and defaults on its contractual obligations. Because decentralized exchanges operate without intermediaries and are based on smart contracts, this risk is eliminated. To ensure no other risks arise when using a DEX, users can quickly do a web search to find out whether the exchange’s smart contracts have been audited and can make decisions based on other traders’ experience.</li></ul>Decentralized exchange are not all advantages, there are some disadvantages with them, which they can be compensated with clever methods. Some of them are: specific technical knowledge is required for using DEXs, smart contract vulnerabilities can introduce risks, unvetted token listing may bring up some malicious tokens in the exchange. All these risks are covered in BEMEX through an intuitive guide in the user interface, meticulous smart contract coding and inclusive but vetted token listing. BEMEX is an order book DEX so users can always be sure their tokens are traded in price range of their choice. On contrast swaps is instantaneous trading, but it comes to the cost of volatile pricing, which can be irritating especially in high trading volumes. BEMEX brings some kind of liquidity pool and staking mechanism to the order book DEX to have fast trading capability and intended price for trades both in a single package.<h3 id="bemex-in-summary">BEMEX in summary</h3>BEMEX is the name of an exchange that consists of the two words BEM and Exchange.BEM &#43; EXCHANGE &#61; <a href="https://blog.beminfo.io/bemex" rel="noopener noreferrer nofollow">BEMEX </a>BEMEX is a decentralized exchange and has Multi-Chain asset and token support, and it will support major blockchains like: <a href="https://tron.network" rel="noopener noreferrer nofollow">Tron</a>, <a href="https://www.ethereum.org" rel="noopener noreferrer nofollow">Ehereum</a>, <a href="https://www.binance.com" rel="noopener noreferrer nofollow">Binance </a>and <a href="https://bempire.io" rel="noopener noreferrer nofollow">Bempire</a>. This exchange will start as a swap, but it is an order book exchange in its core so tokens can be easily traded with your intended price. Among the options of this exchange, we should mention its liquidity pools, <a href="https://coinmarketcap.com/alexandria/article/what-is-yield-farming" rel="noopener noreferrer nofollow">farming</a> and multi-chain support, which make the exchange services more convenient for users. Holders and traders of BEM foundation&#39;s tokens should know that the start of BEMEX is the beginning of the second phase of BCN and the third phase of BEMT. BEMEX will have a strong support for BCN and BEMT. This use-case attracts holders and new users, which will results in nothing but price growth. The expected launch time of BEMEX is March the first of 2022. Tell your friends and share this post to bring more awareness to this unique product of BEM foundation.

BEMEX a brand-new decentralized exchange from BEM foundation

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