Waves Platform Exchange Review
Waves Platform Overview
Decentralized Exchange – cannot be rated at this time.
Waves is one of the few decentralized exchanges out there. It is also created as a unique project aiming to foster a “cryptocurrency environment”. It was established in 2016 by Sasha Ivanov. The exchange has built a completely different platform of its own, where most of the traditional features offered by cryptocurrency exchanges are modified to create a very unique Waves experience for the customers. The exchange is built on its own blockchain, which differentiates it from other decentralized exchanges. The exchange aims to go further than just providing an efficient decentralized network, and create a new, revolutionary platform.
Waves supports an impressively wide array of cryptocurrencies and plans on implementing almost all coins onto its platforms. Fiat-crypto trading is allowed on the platform, and the supported cryptocurrencies are EUR, USD and TRY. Fiat currencies are represented by tokens as well, which has from time to time been a topic of discussion due to its unforeseeable future. Users can deposit fiat currencies to their accounts via bank transfers as well as credit cards. This is very prestigious as most exchanges do not accept credit cards as a valid form of payment. One of the main disadvantages of the platform stems from its low trading volume, which is due to its decentralized nature.
Waves has a structured trading fee, where it charges users 0.003 WAVES on all orders. WAVES is the exchange’s local currency and is worth 7.45 at the moment. This is quite a small fee, hence it gives the exchange immense competitive edge when compared to other, centralized exchanges.
The exchange is quite secure due to its decentralized nature. Its servers are scattered across the globe, so it is almost impossible for hackers to get a hold of all of the servers and completely hack into the system. Even in the case of someone managing to break into the servers, they would not be able to access sensitive information about the users. This is because decentralized exchanges do not require personal information from the users for them to register an account. As trading is done directly between two users, Waves does not need to verify identification or address because it does not participate in the transaction. Hence, hackers cannot access users’ personal information, even if they did manage to hack all of the servers in the system. Users’ funds are also stored on their own devices, as the exchange does not store e-wallets on the platform. So additionally, in the case of a server hacking the hackers would not be able to access users’ funds, due to the fact that even the exchange itself does not have access to such funds. All of these features render Waves extremely secure due to its decentralized nature. Everyone can trade on the platform without worrying about hacking or fraudulent activity.
Because its servers are scattered all across the globe, the exchange does not have a specific location or headquarters. This causes it to evade any national laws and regulations that might be applied on cryptocurrency exchanges, meaning Waves is unregulated and unlicensed. This could have posed a risk if the exchange were to be centralized, however as Waves does not intervene in the process of trading and is not in charge of users’ funds, there is no risk concerning its legitimacy and security.
Information about the team behind the exchange, as well as the platform itself, can be found on their website. This shows the exchange’s willingness to be transparent towards its users, which is most definitely an advantage. Its interface is very modern and offers all of the features that a user could need in a very clean design. There’s no information on whether or not the interface is available in other languages. If there are any other options, they are not shown on the homepage, which could be confusing for some.
Waves Platform Exchange Review, Trading Fees, Deposit and Markets
24h Trading Volume
Waves Platform Total Trading Pairs
Waves Platform Margin Trading
Waves Platform Deposit fees
Waves Platform Fiat Deposit
Accepted Payment Method
Waves Platform Native token
Native token smart contract
Waves Platform Trading Markets
Waves Platform Stablecoins trading
Waves Platform Withdrawals
Daily Withdrawal Limit
Waves Platform Withdraw fees
Waves Platform Withdraw fees discount
Proof of Reserves
Waves Platform Exchange Additional Information