California, United States--(Newsfile Corp. - November 14, 2021) - Coinbase is one of the biggest blockchain-based cryptocurrency exchanges today. The native coin for Coinbase is called COIN. Coinbase exchange has been around since 2012 where it was just a platform to send bitcoin. Over the years, Coinbase has grown to be one of the biggest exchanges. Today, millions of investors are trading hundreds of tokens on Coinbase.
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The crypto market growth has seen new exchanges coming to compete with established exchanges like Coinbase. One of the exchange platforms currently competing with Coinbase is Centcex, which is soon launching a public sale. The native coin for the Centcex exchange is called CENX, Binance Smart Chain token.
Just like Coinbase, Centcex is planning to develop one of the biggest crypto exchanges. Centcex is inspired by Coinbase, but the team wants to build a more powerful 'Coinbase'. According to the Centcex team, they want to address major flaws of Coinbase. The platform will also give users a better Coinbase experience.
These are a number of areas Centcex is going to compete with Coinbase. The team says they want to give Centcex users an experience they are missing on Coinbase. This includes easier coin trading, easier manoeuvres than Coinbase and even more tokens on the exchange than Coinbase.
Security has been a big issue with Coinbase and other exchanges. Coinbase has reported cases of hacking, with customers losing a lot of money. The recent Coinbase hack was at the end of September when hackers stole coins from 6,000 Coinbase customers.
Unlike Coinbase, Centcex will be providing users with high security and privacy features. The team is building a platform that will not have hacking issues. Coinbase has severally been hacked, but Centcex is going to put it to a stop.
Issues of user experience at Coinbase is another problem that Centcex will fix. The exchange is promising to give users a better experience. From buying to swapping coins, Centcex will offer a better experience.
What makes Centcex different?
Centcex exchange is also promising to address the speed issue, which is common with Coinbase exchange. Sometimes it can take time to complete a single transaction on Coinbase. This is a problem that Centcex team is eradicating to become the next Coinbase. With the scalability addressed, the exchange will process more transactions per second than Coinbase.
To compete with Coinbase, Centex is building a platform that will reward members. Centcex staking programs share up to 80% APY of revenue collected from network products. Such rewards are attracting more members, including the Coinbase community. Coinbase stake is not offering such a percentage to its members.
The other way Centcex is competing with Coinbase is by allowing token holders to stake with multiple staking pools. So staked CENX will be earning more rewards than Coinbase token. With its higher staking rewards, the exchange will automatically be a tough Coinbase competitor.
The Centcex team is developing more products in its ecosystem than Coinbase. The platform is setting aside 3% of the 10% tax collected from transactions to fund unlimited products. In future, Centcex is planning to host more products than Coinbase to generate more revenue for staked coins. The 3% of the tax will buy back and burn tokens from the liquidity pool.
Centcex has announced a public sale. This will be the first step towards building a Coinbase competitor. The team is raising resources to build the biggest Coinbase competitor. Coinbase is a good platform, and with the team promising a better Coinbase experience, this will be a crypto project to watch.
Centcex exchange will charge lower fees than Coinbase. Just like Coinbase, the platform will support both Android and iOS users. The user interface will be better to give users a better experience. With better rewards, Centcex has what it takes to excite the crypto community.
Centcex ecosystem is going to be one of the strongest in terms of products and user experience.
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