Venus Crypto Exchange came into existence in 2020. An exclusive protocol allows direct cryptocurrency transactions between two users’ MetaMask wallets and converts physical assets into digital ones. Simply put, the cryptocurrency exchange deals with tokenization, running on Binance Smart Chain.
By the way, the third party might be eligible for bargains, but with considerable restrictions. You should also note that only MetaMask wallets could be linked with the exchange. In this way, the platform helps people cope with many issues:
- You can enhance the liquidity of assets.
- It provides them with a well-established market price.
- The exchange reduces management expenses.
- It ensures fair terms and a transparent process.
- The platform has 100% protection from hack attacks.
However, the greatest thing is that Venus Crypto Exchange doesn’t check your identity but ensures discreet and completely private transactions. Besides, the platform doesn’t store your funds, meaning a zero risk of losing them.
There has been, however, one deficiency: the lack of fixed-rate lending. It would be great if Venus discloses the precise amount of money made by lenders and borrowers. Besides, the amount paid in interest upfront without utilization factors should also be clear.
Still, the platform constantly develops. So, everything may happen in the nearest future.
What Does Venus Cryptocurrency Exchange Do?
Venus is suitable for both borrowing and lending digital assets. The platform makes it possible to borrow digital assets (tokens) without KYC compliance.
It also allows generating stable coins from collateral usually presented by Venus tokens and using them in several areas worldwide. Furthermore, one can deposit these coins and tokens as collateral, making money on revenue performance.
Which Problems Does Venus Protocol Solve?
Many exchanges are notorious for the low speed, overwhelming interface, and high fees for transactions. Decreased market capitalization and the intricate algorithm of the charging of interest also play a role.
Venus doesn’t have such problems. Transaction fees are minimal, and the blockchain is extremely speedy. Besides, the interaction between the currency market and stable coins brings profit for those accessing locked collaterals.
Venus Liquidity and Other Currently Valid Features
Venus Exchange liquidity is impressive for now. More than 18,000 people use its services, and the protocol’s value is estimated at around $2 billion.
Of course, Venus coins are volatile, depending on crypto markets trends. For example, 10,586,434 XVS coins are in circulation, and the 24-hour trading volume was $52,653,236 as of August 2021. However, it tends to increase and decrease every hour.
That’s why it’s crucial to track crypto exchange rates constantly to use valid data. As for marketplaces, you can currently buy Venus coins on Tokocrypto, Binance, CoinTiger, HitBTC, and Hotcoin Global. Note that you should also track updates for this information.