Phemex Ico Review : Fastest Cryptocurrency Derivatives Exchange

About Phemex

Led by over 8 former Morgan Stanley Executives, Phemex is building the world’s most trustworthy cryptocurrency derivatives trading platform. Phemex leverages a “User Oriented” approach to develop far more powerful features than any existing exchange for traders to easily buy & sell contracts with trust. 

Phemex is a professional and trustworthy global cryptocurrency derivatives exchange. We offer Bitcoin, Ethereum, Ripple, Litecoin, and EOS perpetual contracts, with up to 100x leverage.

Token Basic Information

Name	Phemex
Token symbol	N/A
Social Media	Facebook, Twitter, Telegram
Token Price	=====
Type	ICO
Support	24/7
Restricted areas	N/A
Accepting	BTC
Whitepaper	Click Here For View Whitepaper
Website	Click Here For Visit ICO Homepage

Why Choose Us?

High Performance and Stability

Phemex CrossEngine can easily handle 300,000 transactions per second. Latency between order entry and response time is less than 1 millionsecond. The entire trading system is available for 365 days x 24 hours. High availability reaches 99.99%.

Advanced Functionalities

We provide state-of-the-art FIX API for smooth onboarding for traditional instituion traders. Phemex’s sub-account function is in high demand among quantitative trading teams. We also plan to provide L3 market data in the near future.

Highest Level of Security

All assets are kept in cold wallets. Bitcoin collection and transfers are conducted via offline signature with strict 2-level human scrutiny. In the unlikely event of any loses occuring, these would be covered by Phemex.

Brand Access and Support

Phemex focuses on a user-oriented development approach: our CEO is directly available on Telegram and Twitter. We provide 24 x 7 multilingual live customer support.

Powerful trades, Seamless experience

• Only supports BTC deposits and withdrawals for simplicity and security
• Provides both BTC and USD settling
• Offers advanced functions such as FIX API, sub-account system, and L3 quotes

Mission

The promise of blockchain to empower individuals without access to traditional finance requires exchanges to provide these services. Phemex are building the world’s most trustworthy cryptocurrency derivatives exchange, covering contracts backed not only by crypto assets, but also by traditional financial products, such as stock indexes, interest rates, foreign exchange, agricultural commodities, metals and energy, for our users to trade easily and with trust. We are devoted to simplify financial products and lower the entry barrier for newcomers through a “User Oriented” approach, so to build a bridge between crypto and traditional finance.

Phemex Security

Wallet Security

Phemex designs and implements a Hierarchical Determininstic Cold Wallet System which assigns seperate cold wallet deposit addresses to each user. All the deposits are periodically gathered to the company’s multisignature cold wallet via offline signature.

Phemex processes withdrawal requests 3 times/day, and each request is strictly scrutinized by operators and founders. Based on our sophisticated Wall Street risk control experience, we are able to detect any malicious actions and act to protect the assets of our users and platform. Qualified withdrawal requests are also processed via offline signature so that all assets are 100% stored in a cold wallet system and all operations are conducted offline.

System Security

Phemex deploys its system on Amazon Web Service (AWS) Cloud so all machines are secured on the Amazon Cloud.

Phemex uses several firewalls to seperate different zones and machines for different trading purposes. There are multiple levels of security and internal network access management to control the accessibility from one box to another. Beyond network firewall management, Phemex also applies restictions on the system level. In many restricted zones, we only allow whitelisted boxes to access the system while the system itself must also be whitelisted.

User Account Security

Phemex designs and implements a Hierarchical Determininstic Cold Wallet System which assigns seperate cold wallet deposit addresses to each user. All the deposits are periodically gathered to the company’s multisignature cold wallet via offline signature.

Trading Engine Safety

The Phemex trading platform is comprised of two main core components: The CrossEngine and TradingEngine. The CrossEngine strictly matches client orders based on price and time priority. The TradingEngine is responsible for managing a full set of risk checks on behalf of the client trading account, including cost/fee/PnL computing etc, in real-time.

Fees and Conditions

Phemex’s mission is to build a secure, user-friendly, and competitive trading platform. We have properly designed our fee structure, policies, and conditions to reach this goal.

Deposit and Withdrawal

Phemex wallets only allow deposits and withdrawals in BTC. However, Phemex provides both a BTC trading account and a nominal USD trading account. To trade BTC settled contracts, users simply needs to fund their BTC trading accounts from a wallet. To trade USD settled contracts, users can exchange BTC from a wallet to their USD trading account through a real-time fair rate.

Video

Team

Members	N/A

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This article is writing on 08 Feb 2020 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258

Disclaimer:

Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.