So the market is still down. But that just means you can stock up on cheap crypto. Why not stock up on some passive income tokens? One of my favorites is Flyp.me-An instant exchange with a profit sharing token!
Flyp.me is the only instant exchange with a profit sharing token at this date. However there are other exchanges that share their profits/fees. All of these are market book exchanges.
Marketbook exchanges are the ones where you put a sell/buy order in order to buy crypto.
Instant exchanges are a different way to trade cryptocurrency. These types of exchanges don’t make you open sell order to buy cryptocurrency. You basically send one type of crypto to exchange it to another. Flypme is an instant exchange with a profit sharing token,
They don't really compete each other that much, but it still an interesting to see what the crypto market has to offer.
Anyway let talk about the other profit sharding exchanges.
I will be talking about the major on, go here for a bigger list:
https://steemit.com/bitcoin/@sames/fee-sharing-exchanges
The centralized ones:
1.Kucoin Shares
I haven't personally invested in it. But my friend @fullcoverbetting is.
But anyways KUCOIN shares I would say is what started of the fee share drama. ? Kucoin basically popularized the fee share idea. 50% of trading fees, shared with token holders is currently shared. What I don't like is that they plan on reducing to a small fee share-15%.
Another problem is that Kucoins have to be stored on their exchange so a single point of failure.
Also depending on whom you are talking to the way Kucoin distributes their payments is iffy.
Kucoin's dividends are paid out in cryptocurrency they earned from the fees. The amount is so divided-expect to wait a long time if you don't have a huge Kucoin shares holding.
2.Coss
COSS pays 50% of their exchange fees (0.2%) in dividends to COSS token holders every week. It operates the same way Kucoin does, except Coss main selling point is that every pair its exchange will get a fiat pairing. As such don't expect to earn crypto without a KYC. Same distribution problem as Kucoin.
3.OKB - OKEx profit sharing token
The different with this exchange is that while it token fee share operates as Coss and Kucoin does it completely different. One well the token fee share will stop on 2020 afterwards it be planned underlying token of a dex. Second they covert all the fees to bitcoins so earning back your money is easier. Okex however, is plagued with conspiracy. Many suspect it to do wash trading.
Decentralized exchanges:
The problem with these is that fees are way to high. You even have to pay a fee to cancel a trade!
But the idea is noble and amazing.
- CryptoBridge DEX
BridgeCoin is the native token of a new and popular decentralized exchange called CryptoBridge DEX.
The native token of this platform, BridgeCoin, is designed to share revenue with its holders and can be bought and sold like any other cryptocurrency And if you are a HODLer of BCO tokens i.e. BridgeCoin, you can stake it and earn 50% revenue share of the CryptoBridge DEX.
Here how to stake: https://coinsutra.com/how-to-stake-bco-on-cryptobridge-tutorial/
They are special bonus for the stalking if you pick longer stake option.
Another cool thing about Bridge is the fact they convert the fee that they share to bitcoin.
My ref link if you want to use it:
https://wallet.crypto-bridge.org/?r=bitmaster177
- EasyDex Portfolio Builder token
EasyDex Portfolio Builder token. Holders of this token will receive share drops totalling 50% of the fees collected through deposit and withdrawal of EasyDex crypto assets. Has USD support.
https://beta.whaleshares.net/bts-project/@easydex/announcing-easydex-open-beta-launch-fiat-depositwithdrawals-and-trustless-account-recovery-on-bitshares
Here the site: https://easydex.net/
- Obits
The fee share token of Openledger
You can read about obits here:
https://steemit.com/cryptocurrency/@cicbar/obits-great-token-under-radar
So they basically share 50% to token holder like Coss but the difference is it is built on a decentralized exchange and the 50% fee share is converted to bitusd(a pegged usd coin) and shared to token holders, They also make money by transfer, deposit, withdrawal. Every exchange, does that-have you ever wondered why withdrawal fee are some freaking high. That why....
However Obits share the profit made by withdrawal fees to token holders.
Compared with all the profit sharing, many of the tokens don't give you any control of the exchange. Obits kinda from what I read.
Flypme is not completely centralized like Coss.Kucoin,Okex and others.
Flypme is structured in a federated style.
Flypme has a token called FYP.
FYP tokens are intentionally the shareholders of flypme.
Anyone holding FYP Tokens will be able to propose new features.
All changes vote on can viewed on an Ethereum-based Smart Contract and will crowdsource ideas from the community to deliver the best possible experience.
With this huge amount of transparency flpyme once again proves they are the safest exchange to use.
Flyp.me is the first Instant exchange with a profit sharing token as such, it has a first mover advantage.
Flypme pays out 50% of all profits! Crying out loud, they paid 100% the first time as a celebration.
Plus they pay out in ETH as such your chance of receiving payments is higher.
Profits are shared every three months at present, however this may be reviewed following a poll on Twitter. https://twitter.com/flyp_me/status/986187381802983425
That is why I love Flypme- an Instant exchange with a profit sharing token.
I think Flypme is great. However that just might be my opinion. Tell me your favorite passive income coin. :) Well se ya/
Note:
I am not a professional trader, the information above is not trading advice, and please do further research if you are considering investing. I like to be upfront and honest about what I’m doing. This article is intended to earn tokens part of Flypme writer program.
This post was reposted from @sames with full permission!
https://hive.blog/flypme/@sames/an-instant-exchange-with-a-profit-sharing-token#@sames/qbxn2i
