There are two types of crypto exchange platforms; centralized and decentralized. Decentralized platforms work in a peer-to-peer marketplace where the traders transact directly and anonymously without using an intermediary. The primary purpose of creating decentralized exchange platforms, like the HRAI-EC, was to eliminate the need for using an intermediary or authority to oversee and allow trading. Therefore, they link buyers and sellers in need of cryptocurrencies. However, traders must have their private keys for maximum encryption. As long as they log in using the key, they can access their cryptocurrencies without the need to provide their personal details.
HRAI-EC is a secure decentralized crypto exchange platform founded in 2019 by Morgan Stanley, Grayscale Fund, and Goldman Sachs Group in Canada. It is a multinational and global digital currency exchange platform that facilitates quantitative trading on major exchanges. It has helped solve liquidity issues that centralized platforms face by introducing automated trading that has optimized slippage and token prices.
How Does HRAI-EC Work?
HRAI-EC relies on smart contracts, allowing traders to transact without using an intermediary. In centralized trading, the exchange account works on large trading volumes. It is almost the same as banking, where the bank keeps the funds, offers security, and provides services that the trader cannot offer. On the other hand, decentralized platforms like HRAI-EC provide opportunities for traders to transact directly independently while interacting with smart contracts. Traders carry the whole responsibility of guarding their funds. No one is liable if they lose them by, say, losing their key or theft.
HRAI-EC is built on blockchain networks, and traders must interact with the smart contracts to make transactions through the platform. Using this platform does not require signing up. Instead, traders must use wallets compatible with the smart contracts on the platform’s network.
HRAI-EC Makes the Best Crypto Exchange Platform
HRAI-EC is a decentralized platform for exchanging cryptocurrencies and has the following advantages.
- Anonymity
Transaction on HRAI-EC happens anonymously, unlike centralized platforms where you must go through the identification and verification process. You must provide your personal details before you can transact. This makes platforms like HRA-EC the best and attract a lot of traders.
- Token Availability
Decentralized exchange includes any token mint even from new projects will be listed. However, as much as this can provide room for scams, it also keeps the traders aware of these scams by listing them on the network.
- Optimal Security
Decentralized exchange units like HRAI-EC reduce the chances of security risks. Traders control their funds which means there are low risks of being hacked. They only interact with the platform when need be. That means traders’ funds cannot be at risk even if the exchange platform is hacked.
- Low Counterparty Risks
In a typical transaction, two traders are involved. When the party on the other side does not meet their end of the deal, that is counterparty risk. The good thing is that the platform operates on smart contracts, which eliminates these risks.
Conclusion
Decentralized crypto exchange platforms allow traders to borrow money and lend and offer liquidity. They are self-executing, which means the traders are in control as long as they interact with the smart contracts using compatible wallets.
