FairDesk Exchange Review – Fees, Supported Coins & Countries, Security
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In September 2021, Fairdesk exchange opened in Singapore. The exchange strives to treat cryptocurrency transactions properly, as the name suggests. I'll introduce you to the Fairdesk universe and demonstrate how it can help you in this essay. Jacky Choi serves as Fairdesk's CEO.The following details regarding the conversation are noteworthy:
It mostly focuses on cryptocurrency derivatives.
It was developed by well-known figures in the cryptocurrency industry (six former workers of Binance and three former software architects from Morgan Stanley).
It provides derivatives with up to 125x leverage.
All of its assets are kept in offline wallets, and each withdrawal calls for human processing.
Up to 450,000 orders per second can be processed by its speedy proprietary match engine.
It provides different bonus packages, including as a $600 welcome bonus and trade incentives from $5 and 66. There are rules and regulations.On both iOS and Android, it has a mobile app called Fairdesk Go.It is multilingual and works with 23 fiat currencies.It supports a huge variety of nations. However, there is no support for the US.
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SERVICES AND FEATURES
Buy and sell crypto via MercuryOA well-known fiat to cryptocurrency payment route is MercuryO. It is the only reputable payment service provider working with Fairdesk that enables consumers to buy a single cryptocurrency transaction worth between 21 and 5366.34 USD.
For a little cost, you can purchase any of BUSD, BTC, ETH, BNB, TRX, or USDT using Visa, MasterCard, and ApplePay. Your cryptocurrency wallet receives the recently purchased cryptocurrency right away.
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USDT PERPETUALA futures contract that never expires is known as a perpetual contract. The USDT Perpetual, the lowest-risk perpetual contract type, is provided by Fairdesk. The contract is valued in USDT, a stablecoin, making it the least risky. As a result, traders are not concerned with volatility unless they are actively trading.
This contrasts with inverse perpetuals, which are valued in the cryptocurrency they represent and are hence exposed to volatility risk even when the trader is not trading. On the USDT perpetuals market on Fairdesk, 41 coins are traded. They include, among others, BTC, DYDX, ETH, EOS, ADA, LTC, DOGE, and YFI.The breadth and frequency of liquidations are typically reduced by carefully considered mark price, funding rate, and stepwise liquidation procedure constraints, preserving the assets of clients.
The trading commission is established based on the lowest levels of the company, allowing the clients to keep their profits.
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FAIRDESK EARNThe 'Earn' component of the Fairdesk exchange is located here. 'Flexible' and 'Fixed' Earn portions make up this list. As of this writing, the Fairdesk Earn window only offers USDT. While there are two fixed earn packages for USDT, there is a variable earn package with a 4% basic APY and a 3% reward. One of those fixed packages has a 7-day duration and offers a 5% base APY and a 3% reward, while the other has a 14-day duration and offers a 6% base APY and a 2.5% reward.
ARENA TRADINGBy pitting participants against one another, Fairdesk's arena trading programme hopes to increase interest in trading. Only BTC and ETH are exchanged in the Fairdesk marketplace. Leaderboards are updated every three minutes in the arena mode, which only enables isolated 80x leverage for both coins.
You can choose to have your position automatically close within one of three timeframes—30, 60, or 90 seconds—on the Arena trade interface. Additionally, you are free to keep your job open for as long as you choose.You are only allowed to employ a certain amount of funds as a margin in the arena. 2, 10, 20, 50, 100, or 300 USDT are your options. The entire trading process is created to make trading your preferred cryptocurrency feel like playing a game.
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FAIRDESK SUPPORTED COINSFew cryptocurrencies are supported by Fairdesk at this time. It had 42 coins listed on its platform as of the most recent tally. The coins are BTC, ETH, TRX, ADA, DOGE, YFI, LTC, DOT, LINK, UNI, AAVE, BNB, XRP, SOL, AVAX, BCH, ALGO, FIL, XLM, XTZ, ATOM, LUNA, NEAR, AXS, MKR, COMP, ETC, SUSHI, ICP, MATIC, THETA, XMR, CHZ, REEF, USDT, FTM, NKN, GTC, DYDX, EOS, VET, and ONE.
It also lists 23 fiat currencies that can be used to purchase cryptocurrency. There are twelve different currencies: USD, AED, BDT, AUD, CAD, GBP, CNY, HKD, CHF, HUF, ILS, JPY, INR, KRW, PEN, RUB, SGD, THB, UAH, VND, and TRY.
FAIRDESK DEPOSITS AND WITHDRAWALSDirect fiat deposits are not supported by Fairdesk. Only with MercuryO can you purchase cryptocurrency with money. MercuryO uses both your bank cards and your ApplePay account to accomplish this.
On the site, you can, however, deposit and withdraw cryptocurrency whenever and however you choose. The chain of the network you are depositing on must be considered before doing it. You could never be able to get your crypto assets back if you transmit them to the wrong network.
After logging in, click the deposit icon on your home page and choose the cryptocurrency you wish to transfer. Then, duplicate the receiving address and paste it in your other wallet's sending column. Additionally, you can use the attached QR code to automated service.The process for withdrawing cryptocurrencies is similar. The receiving address from the other wallet would be copied and pasted into the sending column of your Fairdesk wallet instead.
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FAIRDESK TRADING FEESFor BTC and ETH USDT everlasting trading, Fairdesk charges a maker fee of 0.01% and a taker fee of 0.015%. The charge for manufacturers and takers of other coins is 0.018% and 0.028%, respectively. Owners of FDT, the exchange's native token, are entitled to refunds of transaction costs based on the number of FDT they currently possess.
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