One of the greatest errors a cryptocurrency exchange can do is to poorly implement the much-needed security measures that are protecting the platform from external threats. Several crypto exchanges even squander the trust users have put in them by scamming and then running with the funds. These are made possible because of the unregulated nature of cryptocurrency in many countries that still don't have sufficient regulatory framework to prevent such crime from happening. Thankfully, there are still reliable exchanges where traders and users can safely exchange and trade their hard-earned crypto assets without a single ounce of worry. Eqonex is one of such exchange.
Eqonex is a crypto trading platform and exchange based in Singapore. The company was first established as Diginex by Miles Pelham in 2018. Their first headquarters is located in Hong Kong. From the beginning, Diginex is consisting of several business arms. These including a crypto OTC trading desk EQUOS, a crypto exchange called Diginex Access, and crypto custodial tech firm Digivault. In the same year, the company acquired a digital asset hedge fund called Bletchley Park Asset Management. In the following year, the company hired Will McDonough, a former vice president of Goldman Sachs, the famed investment bank. Diginex managed to get listed on Nasdaq through a reverse merger with 8i Enterprises Acquisition Corp, with this, the company also gone to became a public company. The company did this in the hope of increasing their market visibility. In June 2021, the company rebranded their newly unified business under the brand Eqonex, with a new headquarters based in Singapore. With this move, they combine all of their existing business arms into one entity.
The company currently offers three services - crypto exchange, spot trading, and crypto perpetual futures. Sadly, Eqonex currently only supports a handful of crypto assets. These are: BTC, ETH, USDT, BCH, USDC, and their own crypto token called EQO. EQO is a unique crypto token that's native to the Eqonex ecosystem. Owners of the token can enjoy various benefits like reduced trading fees, higher interest rates, and more.
The trading platform here is build with all the features traders need to make an efficient and profitable tradings. Although the current trade pairings are somewhat lacking, the company promises that more crypto assets will come to the platform. The fee is dynamically calculated based on a trader's trading volume. This means the more a trader's trade on the platform, the less the fee will be. The trading fee ranges from 0.010% to 0.090%, based on the last 30-day trading volume.