AresX is the newest cryptocurrency platform on the block that stands apart from the rest. This crypto-exchange has created a new revolution in crypto and blockchain infrastructure with its innovative approach towards building a more user-friendly and secure platform.
As AresX continues to gain support from the community through its ongoing token sale, the final fruit of development is expected to deliver much more than the present-day market leader – Binance. The platform is already being termed as “the next Binance” by many as it is designed to offer a robust, highly secure and easy-to-use crypto trading solution for both new and experienced cryptocurrency investors.
However, unlike Binance, AresX platform can be readily integrated into most of the widely used applications, which offers a sense of familiarity to the users. In addition, AresX boasts of a state-of-the-art security model capable of withstanding DDoS and hacking attempts. Its robustness also makes it more capable of handling heavy traffic, with more than 20,000 order requests per second.
Lastly, the synergy between AresX and the ARES Arbitrage platform guarantees the liquidity in the platform when ARESCOIN is enabled to be used to make payment transaction and listing fees. Fund transfers will also be seamless on this platform.
Reviewing Binance & AresX
Binance is a popular cryptocurrency platform that focuses mainly on crypto-crypto trading. Since its launch in 2017, the platform has been admired by the cryptocurrency community for its impressive coins offering and very low trading fees.
When compared with AresX, they both share some similarities in terms of coin offerings, attractive fees, and cross-platform compatibility. However, Binance has a fairly complex user interface that is not designed keeping casual investors in mind.
Binance offers a with various graphs and charts, including order books, trade history, and a candlestick chart. A depth chart for the orders can also be viewed from the dashboard itself. While an experienced crypto-trader can easily read through these data points and execute trades, casual traders and new users end up feeling overwhelmed.
This is where the on-demand access to information and simple chat interface provided by AresX scores over Binance.
AresX has all the features of traditional exchanges like wallets, fiats, cryptocurrency funding, KYC, and others, presented in an intuitive and quick interface. The platform’s powerful servers ensure stability and can handle up to 20,000 simultaneous order submissions. In addition, like Binance, AresX is pursuing two main goals with its token offering:
- To draw users on the exchange to increase the trading liquidity
- To raise funds necessary for the comprehensive development of the platform
Binance is strictly a cryptocurrency exchange, so users can’t fund their account with fiat currency: However, AresX is in the process of ensuring all-round compliance, which allows it to support fiat transactions the same way as it supports cryptocurrency transactions.
AresX’s own token, ARESCOIN, can be used to pay for all the services available on the exchange, including commission, listing and trader status fees, as well as being one of the base currencies for all crypto assets and currencies listed. When paying for services with ARESCOIN, 10% of its exchange rate value is added as a discount.
Binance also has a somewhat similar structure in place where users can pay on the platform with BNB tokens. However, these payments are confined only to commissions and not for other services like token listing etc.
With Ares having its own blockchain, companies that ICO using ARESBlock will be entitled to list their tokens on the AresX platform, giving it a continuous stream of coins to be listed.
So, we can see that AresX and Binance share various similar features. Both provide a secure and comprehensive platform for crypto trading to investors across the world. Though Binance is currently leading the market with more 36 coins listed, the complexity of its UI and certain limitations such as liquidity of tokens as mentioned in this article gives AresX an edge over Binance in the near future.