What is NebliDex?
NebliDex is a fully open-sourced decentralized exchange (DEX). It has been active since 2018. NebliDex is powered by something called the atomic swaps technology.
This platform does not support numerous different cryptos. On the contrary, you can only trade Neblio, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monacoin, DAI and USDC here.
As this is a DEX, it is also open to citizens or residents from the United States. Or rather, the citizenship or residency is of less importance for DEXs seeing as they never hold their users’ assets.
Support for Android phones
NebliDex is also available through a mobile app. Weirdly enough, the app has only been developed for phones compatible with Google Play. So iPhone users while have to use the platform through their computers instead. We’re a bit curious about this decision, but that’s just the way it is.
General information on DEXs
DEXs are becoming more popular, mostly due to the following factors:
- They do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins.
- They normally do not require you to give out personal info. This makes it possible to create an account and right away be able to start trading.
- Their servers spread out across the globe leading to a lower risk of server downtime.
- They are essentially immune to hacker attacks.
However, DEXs normally have an order book with lower liquidity than their centralized counterparts.
NebliDex Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at NebliDex:
NebliDex Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.
To our understanding, Neblidex's fee for takers is 0.20%. 0.20% can be argued to be in line with industry average. However, this exchange does not charge any fees at all for makers, thus promoting the liquidity at the exchange. This is a very strong part of Bitsten's offering and can be really helpful for people interested in not picking up existing orders from the orderbook.
NebliDex Withdrawal fees
Some exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Neblidex, however, only charges the network fees when you withdraw cryptocurrencies, meaning that the exchange itself does not profit from your withdrawals. This is a strong competitive edge in the market.
NebliDex does not accept any deposits of fiat currency. You can only deposit cryptos here. This means that the new crypto investors (i.e., the investors without any previous crypto holdings) can’t trade here. In order to purchase your first crypto assets, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
The servers of DEXs normally spread out across the globe. This is different from centralized exchanges that normally have their servers in just one or a few places. This spread-out of servers leads to a lower risk of server downtime and also means that DEXs are virtually immune to attacks. This is because if you take out one of the servers, it has little to no impact on the network of servers in its entirety. However, if you manage to get into a server at a centralized exchange, you can do a lot more harm.
Also, if you make a trade at a DEX, the exchange itself never touches your assets. Accordingly, even if a hacker would somehow be able to hack the exchange (in spite of the above), the hacker can not access your assets. If you make a trade at a centralized exchange, however, you normally hold assets at that exchange. That is, until you withdraw them to your private wallet. A centralized exchange can therefore be hacked and your funds held at such exchange can be stolen. This is not the case with respect to decentralized exchanges.