News and Announcements
BITCAR Tokens Now Available on Decentralised Exchanges
- Published May 28, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Key Takeaways:
- A decentralized exchange is an exchange market that does not rely on a third party service, to hold the customer’s funds
- decentralised exchanges allow trades to occur directly between users, peer to peer, through an automated process
- BitCar is now available for purchase on DDEX, Joyso, EtherDelta decentralised exchanges.
Following token distribution last week, BITCAR is now available for purchase on the following decentralised exchanges:
DDEX
User-Friendly decentralized exchange for Ethereum-Based Tokens. Building on top of Ethereum smart contracts and the 0x protocol, DDEX allows users to trade ERC-20 tokens from wallet to wallet.. No uncertainty of deposit/withdrawal lockup periods.
Joyso
JOYSO, the Ethereum based exchange, offers the speed of a centralised platform while providing the security and privacy of a decentrlized exchange.
EtherDelta
EtherDelta is a decentralized Ethereum token exchange, brought to you by Etherboost. Here, users can trade their Ethereum-based tokens.
What is a decentralised exchange?
A decentralized exchange is an exchange market that does not rely on a third party service, to hold the customer’s funds. Instead the trades occur directly between users, peer to peer, through an automated process. This system can be achieved by creating proxy tokens, assets or through a decentralized multi-signature escrow system, among other solutions that are currently being developed.
This system differs with the current centralized model, where users deposit their funds and the exchange issues an IOU that can be freely traded on their platform. When a user asks to withdraw his funds, these are converted back into the cryptocurrency they represent and sent to their owner.
About BitCar
In a world first, the BitCar platform allows fractionalized ownership and decentralized peer-to-peer trading in Exotic Cars with a new BITCAR token. Imagine being a part-owner of a Ferrari F40, Maserati MC12 or Bugatti Veyron just to name a few. Owners can peg their crypto to these hard assets for protection during times of high crypto volatility.
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