Orxcash is a fully decentralized platform that includes a decentralized browser-based decentralized cryptocurrency wallet, decentralized cryptocurrency exchanges, and decentralized cryptocurrency IEO launch platform .
Everything You Need to Know About orxcash.com
Everything
You Need to Know About orxcash.com
WHAT IS ORXCASH?
ORXCASH Wallet is a completely decentralized cryptocurrency wallet which supports Bitcoin, Ethereum, ORX and some popular ERC tokens, ORXCASH Wallet is a unique wallet which features a truly peer-to-peer coin-coin and coin-token exchanging feature, this feature is powered by the ‘Atomic Swap’ technology, which is just another way of explaining the act of combining multiple blockchains into a single interface for users to directly interact and exchange coins with one another.
Github -Open-source code
WHAT DO YOU MEAN BY ATOMIC SWAP?
Atomic swap is a peer-to-peer exchange of cryptocurrencies from one party to another, without going through a third party service like a crypto exchange. During this entire process, the users have full control and ownership of their private keys. For more information, read this ARTICLE.
Atomic Swap Explained in Simple English
WHY SHOULD I USE A DECENTRALIZED?
Over $1 Billion+ were lost up until today as a result of hacking incidents on centralized wallets and exchanges. Transparency is never always guaranteed with centralized services. Hence, many avid cryptocurrency users are quickly shifting away from centralized services to decentralized/non-custodial platforms.
Another reason is the hectic fees involved with centralized services. Market makers/takers are usually charged around 0.1% for each exchange activity and there are deposit/withdrawal fees involved. Remember, we are not here to sell anything and we charge 0 fees for any of the services we offer. We have simply created this decentralized wallet + p2p exchange because we are passionate about bringing solutions to the existing problems within the industry. By using Bitcoin.js, web3.js and the libp2p library in IPFS, we allow users to seamlessly swap coins and tokens (cross-chain) directly with one another without any 3rd parties involved & without any fees involved.
Many centralized services additionally require you to complete KYC as funds are received directly into their wallets. We do not require users to verify their identifications as we do not handle your funds nor do we store your data anywhere with us. Nobody can freeze or suspend your account or funds and prevent you from performing transactions. It’s the way it should have been and will always be.
WHAT ARE THE FEES INVOLVED?
We take 0 fees in the middle for providing these services to you. However, you still have to pay the standard TX (miners fees) for all transactions you conduct on the platform.
For ERC20 tokens, it is required that you have at least 0.001 ETH on your wallets. Remember! when sending ERC20 tokens, you are required to hold some ETH as miners fees for transactions. This is also the case for all atomic swaps for ETH & ERC20 tokens.
NOTE: You can easily check the ‘miners fees’ required for each respective coin by simply googling them.
HOW ARE ORXCASH BETTER THAN COMPETITORS?
Decentralized Exchanges
None of the decentralized exchanges allow users to actually swap BTC <> ETH <> ERC20 Tokens. They either require you to ‘wrap’ your BTC or ETH… or they’re straight up lying about being ‘decentralized’. orxcash.com doesn’t require users to ‘wrap’ their coins as we have simply implemented the ‘atomic swap’ technology, allowing users to directly interact with various blockchains on a single interface.
0x (Kyber, Radar Relay, Airswap) – work only with ETH and ERC-20 tokens, no support for other blockchains.
Binance DEX, BitShares, EOS DEX – proxy-token or token-wrapping required and funds are required to be sent to the administrator or special CEXs. The exchange of these IOU (proxy-token) cannot always be 100% guaranteed.
Polkadot Bridge, Cosmos – they serve as cross-chain IOU services only. Exchange is guaranteed by the consensus and there is no way to trade Bitcoin.
Direct Competitors
Atomic Wallet – p2p Atomic Swaps are only supported for BTC, LTC, QTUM. They deal with a wide range of coins & tokens but these are not supported by atomic swaps & they use centralized services such as Changelly for exchanges of these coins & tokens. Additionally, Atomic Wallet’s atomic swaps do not support partial fulfillment.
Spark Swap, Exchange Union – software download required and works only on the console itself.
Changelly, Shapeshift, Zigzag – centralized (custodial) services at most times requiring full KYC.
More info : https://orxcash.com
Product by ORYX : https://oryx.network
