Press Release

DueDEX Review—a Derivatives Trading Platform with 100x Leverage

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DueDEX was established in January, 2019 with a global team based in Hongkong, Beijing, Cyprus and Philippines. The CEO of DueDEX is Bo Wang, who is an early investor of cryptocurrency and serial entrepreneur in blockchain industry. His previous projects include Factom, a public blockchain for proof of existence, Wanglu tech, solution providers of a blockchain-based supply chain finance system and Dephy, a prediction decentralized application based on Ethereum blockchain.

DueDEX is registered in Belize and is currently available in most countries expect USA, HongKong, Iran and others. Currently, no Know Your Customer (KYC) is required on DueDEX.

DueDEX

Please Note: This is a Press Release

Trading page

We registered on DueDEX and checked their trading page. At the first sight, their trading page is quite neat and clean, and well organized, with the trading view on the left, order book in the middle and order section on the right.

For the candlestick chart section, different drawing tools are provided to users, helping them do more detailed and visualized analysis to make better decisions.

In the order sections, DueDEX provides four different types of order types: Limit, Market, Stop Market, Stop Limit. This enables the user with enough options to apply flexible strategies to achieve the most profit with proper risk management.

Deposit and Withdrawal

Deposit

Currently, DueDEX only accepts deposit of BTC, with plan to accept other cryptocurrencies in the near future. With a successful signup, users are able to claim $10 equivalent BTC Sign-up Bonus and goes up to $70 bonus if you deposit for more than 0.2 BTC.

After login, please click the “Account” tab at the top left of the screen. Click Deposit then select the token (here we take BTC as an example) and you can see your deposit wallet address. Navigate your cursor to the ‘copy’ icon, you can make the transfer from external wallet to DueDEX BTC wallet.

Based on their website, all the deposited asset is stored in multi-signature addresses protected by hardware wallets.

Withdrawal

On DueDEX, Google Authenticator is required to be setup as Two-Factor authentication to be able to withdraw which adds an extra layer of security to user accounts and protects sensitive operations such as logging in, generating API keys, and withdrawal.

Users can learn how to setup Google Authenticator and the following withdrawal processes with the following link: https://duedex.zendesk.com/hc/en-us/articles/360034039933-DueDEX-Guide-for-New-Users

One thing to mention here is that DueDEX will deal with users’ withdrawal request three times a day at 0:00, 8:00, 16:00 (UTC). Which means that users will have more freedom to choose a proper time to make a withdrawal.

DueDEX fees

Trading fee in DueDEX is split into maker/taker situation. Since the market maker is providing the exchange with liquidity therefore their actions are encouraged. 0.025% is the rebate that DueDEX is paying back to their market makers. If you are a taker, then DueDEX will charge you 0.075% per trade.

Apart from trading fees, another fee needs to take into consideration is funding cost, which takes place every 8 hours on DueDEX. Whether a user needs to pay the funding fee or not depends several factors such as their current positons, the leverage of their position and current market situations.

There’s also an approximate 0.0001BTC fee during the withdrawal process, which is caused by the transaction fee on BTC network.

Leverage

DueDEX maximum leverage that DueDEX supports currently is 100x. The leverage amount you choose is to determine the level of margin you would put for this order. Please note that the position is default set as cross margin mode on DueDEX, the leftmost of the leverage slider, which is 100x leverage. You can slide to the right to change to isolated margin mode and choose to change the leverage you desire. DueDEX supports both Cross Margin and Isolated Margin.

Customer Support

DueDEX provides 24/7 live multi-lingual and multi-channel customer service. Especially in their Telegram channel, their customer service team is responding to customers’ request instantly 24/7. They are also generating and sharing educational materials regarding blockchain basics, trading basics as well as trading guidance in the group.

DueDEX will deal with users’ withdrawal request three times a day, which gives users with more freedom to withdraw their asset and leave the market.

Security

Security is the fundamental factor that a user needs to take into consideration when selecting a trading platform. DueDEX uses multi-signature cold wallet addresses to store all users’ assets with no exposure to the internet. This full use of cold wallet leaves hackers with no chance for stealth.

Except that, the login and withdrawal processes are protected by two factor authentication (2FA). This adds another layer of protection for asset security.

Referral Program

As we mentioned above, with a successful signup, users are able to claim $10 equivalent BTC Sign-up Bonus and goes up to $70 bonus if you deposit for more than 0.2 BTC.

Apart from sign-up bonus, each tier-1 referral will be rewarded a 30% commission and a tier-2 referral will be rewarded a 10% commission.

Hightlights of DueDEX

  1. Security: DueDEX uses multi-signature cold wallet addresses to store all users’ assets with no exposure to the internet. The login and withdrawal processes are protected by 2FA verifications.
  2. Due = Fairness. DueDEX promises not to setup any internal trading desk and offers no exchange token that is subject to manipulation.
  3. High availability and no downtime. DueDEX is capable of high throughput with over 100,000 TPS and low latency of less than 10ms.
  4. DueDEX provides 24/7 live multi-lingual and multi-channel customer service.


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Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@blockonomi.com

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