Introduction
The era of cryptocurrency is gaining more popularity and the popularity curve has been in constant rise since 2009. Major cryptocurrencies including Bitcoin are always in the driving seat of crypto ship and the rest of the cryptocurrencies follow the trail in crypto market. So all the cryptocurrencies follow the legacy of blockchain technology which always emphasizes the spirit of decentralization.
The emergence of more crypto projects are adding on to altcoins bucket and this creates the necessity of an environment or marketplace, where a crypto user can be able to convert the major cryptocurrency like BTC into altcoins, as and when required by the user. In order to facilitate this, many exchanges come up to offer their services of exchange from one cryptocurrency to the other and they charge a certain fee for offering this service to the crypto user.
We have so many cryptocurrency exchanges as on date, yet this segment is still a gray area in regard to a user-friendly interface and simplicity. The various issues pertaining to the existing cryptocurrency exchanges are:
Complex User Interface
Whenever it comes to offering an exchange service to a crypto user, it should not be unnecessarily exaggerated and the model of exchange should not seem like high tech things at first hand for a customer/user. It should not be perceived by a user, like a rocket science and it should not feel like..... training before entering into using an exchange. The complex user interface will ultimately contract the marketplace and a simple user interface will expand the marketplace.
High Exchange Fees
Here the exchange fees in a cryptocurrency exchange mean the combination of conversion fee plus withdrawal fees. The exchange fees of the existing cryptocurrency exchanges are so high that, if someone is doing a very small amount of exchange then it is like 15 to 20% in certain cases, however for the big amount it is within 1 to 3 percent which varies from exchanges to exchanges. The withdrawal fees in some exchanges are even as high as 0.0005 BTC or so. Some of the cryptocurrency exchanges intentionally extract more profit from the exchange service they offer and makes it very inconvenient for a cryptocurrency trader and this is one of the setback in creating a healthy crypto Ecosystem. This high commission fees should be brought down and then only the marketplace can grow further and also can help in mass adoption in cryptocurrency.
Unnecessary registration and verification
Almost all existing cryptocurrenncy exchanges ask for registration to be able to start exchanging. Further, they also ask for verifications for being eligible to withdraw. Technically speaking, the exchanges within the cryptocurrency segment does not require any kind of verification and to make it simple further it does not even require registration. Let the decentralization prevail, when it comes to exchanging cryptocurrency also. This verification is normally a lengthy procedure and it does not enable a user to have instant access to the exchange facilities, therefore it is a constraint to the expansion of the cryptocurrency market.
Limited selection of cryptocurrencies
When an exchange does not have a wide selection, then it restricts the user or potential investor to crypto, to participate in the cryptocurrency market and it not only restricts the opportunity to a user/investor but also it restricts the inflow of investment into the crypto market. So a wide selection of cryptocurrencies is equally important to make a healthy Ecosystem in cryptocurrency market.
=>In order to mitigate these issues and to offer the cryptocurrency user, a simple access to the crypto world by letting them exchange in a most simple way and in just a single page, every operation can be executed, thereby making them feel that: cryptocurrency market is not a complex market. This paves the way to the introduction of OnePageX(One Page Exchange).
OnePageX
In forex market, you might have come across the word "one-click trading" option which helps traders to execute the order in the fastest possible time and in a hassle-free manner. OnePageX offers "one-click exchange & one-page exchange" to its user for cryptocurrency exchanges. Here the complex processes are trimmed down to the maximum so that it can offer the simplest possible user interface to cryptocurrency user/investor.
Key features of OnePageX are:
No Registration
OnePageX respects your privacy and offers anonymous cryptocurrency exchange process. By doing so, the multistep registration processes and subsequent verification are completely trimmed down and a hassle-free cryptocurrency exchange can now become a reality with OnePageX.
Wide Selection
Wide selection of cryptocurrencies opens up the door of new investment into the cryptocurrency market. Equally, it offers an opportunity for a user to buy a cryptocurrency of his choice which he believes economically viable and invest into that as "store of value". So cryptocurrency exchanges play a crucial role and it is like a gateway to the potential investment. OnePageX has a wide selection of cryptocurrency and presently it has 140+ cryptocurrencies and it will not stop here as OnePageX is still in beta phase and it is actively engaged, to add more cryptocurrency in near future. STEEM is also a part it in its future plan.Simple User Interface
Simplicity brings velocity. Simplicity also makes the operation frictionless. Based on this philosophy, OnePageX firmly believes that it can reach a common man only making the user interface simple. Everyone is not tech savvy and in order to enhance the growth of the market and in order to tap the unexplored potential it is very very important to enable a simple user interface. OnePageX has the simplex ever user interface when it comes to a cryptocurrency exchange.
Multiple Transaction in one Page
The requirement of a user at a particular time may not be confined to one cryptocurrency and he may be willing to exchange more than one cryptocurrency at a time. With existing cryptocurrency exchanges, it is required to open a new page every time you need to exchange more than one cryptocurrency and it makes the entire thing quite complex. In order to mitigate this issue, OnePageX has the facility where a cryptocurrency user can make multiple conversion in a single page and every conversion can be easily tracked. So it makes the entire exchange interface much simpler than ever.
One Box Widget Integration
OnePageX has a tailor-made widget readily available for website owners and one can easily integrate and through this integration, the users of the different website can easily access the exchange facility of OnePageX without having to navigate off of the website. This widget is known as OneBox. The code of this widget is given on the website of OnePageX.
How to convert from BTC to other crypto assets in OnePageX
There are as many as 140+ crypto assets in OnePageX against BTC as base. So select the one, you wish to convert to. The transaction instantly executed subject to the completion of 2 confirmation of deposited BTC.
Put your wallet address of the selected currency where you want OnePageX to send the coin.
In order to initiate, click on "start exchange".
After clicking on "start exchange", a transaction card will appear where the BTC wallet address of OnePageX will be there and you need to send the amount to that address.
The transaction card will show the updates of the transaction.
Here is the illustration of the transaction card, how it looks like and how it updates the status and complete the transaction.
New Transaction card.
Bitcoin sent, awaits 2 confirmations.
The exchange is complete. Starting Withdrawl.
The withdrawal is completed.
A Quick Overview of FAQ
The FAQ section of OnePageX is also quite simple and straightforward and this is because of the simplicity of this unique cryptocurrency exchange.
From the FAQ the following keys points can be noted:
Use Cases
Use Case-1
Flintoff loves crypto trading and he is very fond of one-click trading and he believes in anonymous trading as he is very conservative about revealing personal details and verification documents online.
He is looking for an exchange which can fulfill his requirement, he has a steem account also and from the trending page of steemit he saw a lot of articles on OnePageX and everywhere it was written like "No Registration", "One Click Trading", "One Page Trading". Flintoff got excited and did a small amount of exchange to buy ETH and he is quite happy for the reason that he could do that exchange in such a quick possible time and also it did not require him to register. In addition to that, he found the fees of conversion is competitive and at par with other major exchanges.
Use Case-2
Photostock is an online gallery of professional photos. Photostock collects photos from professional photographers and pays them cryptocurrencies. So the users of Photostock have the exposure to cryptocurrency market and blockchain technology also.
Recently, some of the users of Photostock have given feedback to incorporate an exchange facility of cryptocurrencies in the website of Photostock, so that the users can be greatly benefitted by it and the professional photographers which receive cryptocurrency payment from Photostock can have the option to re invest those money in to various crypto assets.
The management of Photostock take note of the feedback but they are afraid by the fact that, everytime someone does an exchange they will navigate off of the website of Photostock.
Finally, Photostock management came across OnePageX' widget Integration where the snippet can be easily copied and pasted to their website which will give the same user expereience as that of OnePageX for making a cryptocurrency exchange and most importantly the users don't have to navigate off of the page of Photostock.
So they finally integrated their website with OnePageX through OneBox.
Summary
As the progress is stepping up in cryptocurrency market with so many upcoming projects and in future the number of cryptocurrencies will be even more than now and anticipating all these aspects, OnePageX has really tried to simplify the exchange interface so that more players can come and participate which will enhance liquidity and when more players will come, the cryptocurrency Ecosystem will become more vibrant, diverse and sustainable.
To sum it(OnePageX) up in a single sentence, it can be confidently concluded that it has not just wide selection of cryptocurrencies but wise selection of cryptocurrencies too, which offers both "one-click exchange" as well as "one-page exchange" facilities.
More Information & Resources:
This is my entry into the writing contest organized by @originalworks and for more details about the contest, you can go through this link: https://steemit.com/crypto/@originalworks/1250-steem-sponsored-writing-contest-onepagex-com
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This is engaging and appealing, friend.
Thank you for this kind words
Hi @littymumma
Wanted to say "big thank you" for dropping by at my blog and for your valuable comment.
I only came to show my little support. Upvote on the way :)
Well written review. Good luck with the contest.
Yours
Piotr
Thank you:) So when you are going to organize the contest and who is the sponsor by the way.
The truth is that Im getting married in just a few days so Im not planning to be organizing any contest anytime soon.
I wrote about this issue because I like to know what the majority of people think. So when the time will come I will be prepared better.
Again thank you for your valuable feedback.
Cheers
Piotr
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