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Blockchain based Forex trading?

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  • Blockchain based Forex trading?

    I've been trading Forex for a year now, and trading crypto for 2 years. I've been waiting for a blockchain based platform to bridge the worlds of traditional assets to cryptographic currencies, and other than Genesis Vision, I'm not seeing anything. Is anyone aware of projects similar to GVT that are currently active or may outperform it?

  • #2
    I haven't heard of one so far, but who knows, blockchain technology is getting implemented in all sorts of new and unconventional ways, so why not Forex trading too?

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    • #3
      Originally posted by mlawson71 View Post
      I haven't heard of one so far, but who knows, blockchain technology is getting implemented in all sorts of new and unconventional ways, so why not Forex trading too?
      True. It seems much more transparent than using a broker. I've just heard a lot of horror stories personally about it being hard to withdraw funds and really not knowing exactly where your money is going at any given time. I'd prefer something blockchain based so I could track my money in real-time.

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      • #4
        While there are certainly a lot of scammers among the forex brokers, cryptocurrency exchanges aren't without their issues. Only last month hackers made off with $530 million after they hacked Coincheck.

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        • #5
          Hi, Hacking, scamming and fraud in forex and cryptocurrency market is very common because in this field daily new people are joining and also new business too which is why people who have not checked or confirm that where to invest have lost money.

          Thanks!

          KayaFX review

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          • #6
            Blockchainís increasing penetration and adoption across industries has been the hottest buzzes on the market. where we keep on embracing the new innovative technologies ready to revolutionize the markets somehow. After education, banking, medical records, and health care insurance, the next market or industry we see blockchain giving a boom to, is Foreign exchange trading. This is actually amplified when a year old technology firm stated its desire to simplify the currency markets by streamlining the methods trading data is saved using blockchain oriented technology.
            The network will utilize blockchain ideas like digital signatures and encryption to develop the unified system. Blockchain, the software that runs bitcoin, is a kind of distributed database that is touted as a means to uplift the financial industry. Cobalt has signed the contract for using the system, with eight leading institutional foreign exchange participants.

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            • #7
              Cryptocurrency exchange scams aside, some countries are going forward with implementing the technology in the mainstream more and more. Japan isabout to become the first major market to use blockchain for money transfers after later this month three Japanese banks will start offering free money transfers via a mobile app.

              It was was approved by the Japanese ministry of finance last week and is expected to help reduce the use of cash in the Japanese economy, which currently accommodates about 80% of all transactions.

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              • #8
                Originally posted by MBHeron88 View Post
                I've been trading Forex for a year now, and trading crypto for 2 years. I've been waiting for a blockchain based platform to bridge the worlds of traditional assets to cryptographic currencies, and other than Genesis Vision, I'm not seeing anything. Is anyone aware of projects similar to GVT that are currently active or may outperform it?
                Are you referring to Decentralized Exchange aka DEX? Check out Bitshares, Waves Platform, Komodo, Bancor, Etherdelta, Idex, AtomicSwaps (altwallet) and Binance will be rolling out a DEX shortly. Tokenized Assets on blockchain are an interesting concept for transparency and a great way to avoid unnecessary counter-party risk. We'll see more Tokenized assets in the near future. Just recently, $30 million Manhattan RealEstate project is being tokenized on the ethereum network.
                Put the edge in your hands.
                Crypto MarketMaker Robot
                Github - Contact for Verified Trading History

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                • #9
                  In the recent past we have been experiencing a surge in the number of DEX( decentralised exchanges) in the days to come, traders will no longer need to trust exchange operators to hold their funds. Funds will be securely held in smart contracts ensuring only you have the control over your funds.

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                  • #10
                    I trade Crypto as well as forex. I use JAFX and mt4.

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                    • #11
                      Originally posted by jperryie View Post
                      Hi, Hacking, scamming and fraud in forex and cryptocurrency market is very common because in this field daily new people are joining and also new business too which is why people who have not checked or confirm that where to invest have lost money.

                      Thanks!
                      Trade under regulated brokers and stay risk free.

                      Comment


                      • #12
                        Originally posted by HedgeBitcoin View Post

                        Are you referring to Decentralized Exchange aka DEX? Check out Bitshares, Waves Platform, Komodo, Bancor, Etherdelta, Idex, AtomicSwaps (altwallet) and Binance will be rolling out a DEX shortly. Tokenized Assets on blockchain are an interesting concept for transparency and a great way to avoid unnecessary counter-party risk. We'll see more Tokenized assets in the near future. Just recently, $30 million Manhattan RealEstate project is being tokenized on the ethereum network.
                        Crypto-Bridge is another DEX built off the Bitshares open source code.
                        Kyber Network is similar to Bancor where Er20 tokens can be traded/swapped (cross-chains coming soon)
                        0x - just landed on coinbase, 500Mil marketcap and powers several DEX EthFinex, DDEX, and more.
                        Put the edge in your hands.
                        Crypto MarketMaker Robot
                        Github - Contact for Verified Trading History

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