The only market more competitive than cryptocurrency is the cryptocurrency exchange market. Binance CEO Changpeng Zhao has called the crypto exchange market "a race to the bottom". This is because trading fees will eventually be so low that it will no longer be profitable to operate an exchange. However, this pessimistic rhetoric has not stopped AAX from coming in to prove CZ wrong.
AAX is a cryptocurrency exchange that is building a bridge between traditional financial markets and crypto markets without aliening the average retail investor. AAX's commitment to its values of integrity, performance, and security has seen the cryptocurrency exchange grow significantly since its release almost 1 year ago. Since then it has continued to add new features, such as its deflationary AAB token.
AAX is a cryptocurrency exchange which describes itself as "an institutional grade platform for everyone". It is the first digital currency exchange powered by London Stock Exchange Group technology. This is the same technology used for stock trading on the London Stock Exchange, the Singapore Stock Exchange, the Johannesburg Stock Exchange, and the Borsa Italiana.
AAX is short for ATOM Asset Exchange, which refers to ATOM International Technology, AAX's parent company. In contrast to many other cryptocurrency exchanges, AAX is focused on building a secure, scalable, and future-proof trading platform that can accommodate the level of institutional participation AAX believes will inevitably come to the crypto market.
AAX Overview? AAX is based in South East Asia and Thor Chan is the CEO. AAX's licence is based in Seychelles.
Thor has held many high investment and management positions at various companies including HSBC and Nokia. Michael has over a decade of experience working at IBM as an IT architect and as their blockchain development lead. He has also worked for TedEx and various NGO organizations. AAX also boasts a solid advisory board which includes Paul Jackson, Mike Newell, and Jamie Khurshid.
AAX Regulation? Yes. The AAX cryptocurrency exchange is registered in Malta as AAX Exchange (Malta) Limited. Operating a cryptocurrency exchange out of Malta is quite common, as Malta has more lenient regulations when it comes to cryptocurrency exchanges.
AAX's parent company ATOM International Technology is registered in Hong Kong as ATOM International Technology Limited. As such, they are regulated by the appropriate Hong Kong authorities.
Is The AAX Exchange Safe? Yes. The AAX cryptocurrency exchange keeps most of its digital assets in cold storage wallets that require multiple parties to access (multi-sig wallets). AAX even offers insured custody of cryptocurrencies upon request. AAX also has Kroll as its security advisor, a company which assess structural risks for over 4000 companies around the world.
AAX Platfrom Review The biggest difference between the AAX exchange and other cryptocurrency exchanges is its use of LSEG technology for trading. This allows it to process anywhere between 60-100 thousand transactions per second with very low latency. AAX COO Michael Wong has noted that even at 99% capacity, the exchange platform can execute trades at a speed of 850 microseconds (millionth of a second).
Know Your Customer (KYC) documentation such as a passport or driver's license is not required to create a trading account on the AAX cryptocurrency exchange. This is due to the lax regulations in Malta where the exchange is registered. However, some features on AAX cannot be accessed without KYC.
The AAX cryptocurrency exchange has 3 levels of KYC. At Level 0 (email only) there is a daily withdrawal limit of 2 BTC, which will suffice for most traders. All features are available except for OTC Trading and AAX Savings.
These are unlocked with Level 1 KYC verification, which requires a passport, national ID, or driver's license to complete. Level 2 KYC verification requires you to provide biometric data (face authentication). The only difference between Levels 1 and 2 is the internal transfer limit (5 BTC vs. 10 BTC).
Unlike most cryptocurrency exchanges, AAX has a very transparent and easily accessible fee schedule for trading and withdrawal. Spot Trading fees on AAX are some of the lowest of any exchange and can be further reduced with greater trading volume and/or by using the AAB token to pay for trading fees.
Futures Trading fees on AAX are the same regardless of the trading pair, but again be reduced using the AAB token. AAX also provides a full list of minimum withdrawal limits and costs for all of the cryptocurrencies it supports. Deposits and internal transfers are free.
Cryptocurrency can be easily bought on the AAX exchange using a debit card, credit card, or bank transfer using one of AAX's 4 fiat-crypto payment providers. Note that all four require the completion of Level 1 KYC on AAX except for Itez, which lets you buy up to 300$USD of cryptocurrency without KYC.
The AAX cryptocurrency exchange does not support fiat withdrawals (e.g. wire to a bank account). This is also likely due to the increased regulation the exchange would be subject to if it began allowing fiat withdrawals.
The AAX cryptocurrency exchange supports over 40 cryptocurrencies. This list includes the obvious choices like Bitcoin, Ethereum, and XRP, and also includes almost every major DeFi token such as YFI, CRV, UNI, and UMA.
While all 40+ cryptocurrencies are available for Spot Trading, only 5 are available on AAX's Futures market. These are BTC, ETH, COMP, LINK, and BCH. Former AAX CEO Peter Lin noted in an early interview that the exchange only lists cryptocurrencies which align with the exchange's values (Integrity, Performance, Security).
AAX Embracing DeFi Ever since the inception of the DeFi token COMP on June 15 of this year, offering lucrative return through investment through yield farming, where idle cryptos could be utilized through different decentralized finance (DeFi) applications, promising large returns.
However, since DeFi is still relatively new and things are uncertain, Thor Chan believes it is too risky for newcomers. He said: "I think the defi craze is scaring off some new joiners to the crypto game...We wanna make it very easy for the crypto newbie to start with these first."
AAX is a progressive exchange and adopts and provides investors with exposure to the lucrative DeFi market by supporting various DeFi tokens such as ChainLink and Compound - among others.
AAX Founders The highly resourceful development team at AAX lies in tandem with the leadership and expertise of its CEO. Thor has had an abundance of experience in the field, managing equities and derivatives, brokerage, and trading operations in Hong Kong.
Additionally, Thor was Deputy COO at FDT Group followed up with managerial roles at Microsoft, HSBC, Publicis, and App Annie. Thor's resourcefulness translated to putting together a talented team at AAX - and he is committed to making the exchange a global leader.
AAB Token The exchange comes with its native token called AAB. The token has a top of the line built-in deflation mechanism, where the exchange will automatically burn AAB every day. It provides full transparency, and the amount burned is updated every day through their website.
The plan of the exchange is to ultimately burn off 50% of AAB token and these tokens are funded by 100% revenue of the AAX exchange.
Investors can expect to receive tremendous benefits while using AAB on the exchange.
Users can get as much as a 50% discount on any spot and future transaction and up to 100% discount on trading fees when settlements are made by AAB. Users can also enjoy higher interest rates when lending and borrowing with AAB making it one of the best crypto asset management tools.
Though its relatively new, but AAB token performance had been outstanding considering the state of the economy. Despite the stock market crash in March 2020, the release saw an astounding 9 million AAB being sold more than 2 days after its release.
Since then, the trajectory of the token has nowhere to go but up, volume in the futures market skyrocketed from under 10 million per day, reaching a record of half a billion per day in August the same year.
As of the time of writing, historical data shows the token is exhibiting substantial growth in the past 90 days.
Demand for the token continuously grew at a phenomenal rate, in its Summer Flash Sales in September, 500,000 AAB were purchased in less than seven minutes, and further in September, seven minutes turned into 57 seconds.
Quoting AAX website: "The demand for AAB is growing, but the supply is shrinking!"
Trading Fees When it comes to trading fees, AAX spot trading possesses a 10 tier model, catering to different types of investors with different volumes, the higher the tier, the lower the fees.
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What is a volume strategy. The trading volume is a simple yet important indicator. The volume indicates how many assets very traded during a period. The direction of these trades is unimportant to the volume. A period in which ten stocks swapped hands will have a volume of ten, regardless of whether the period featured rising or falling prices. A period in which 20 stocks swapped hands will have a volume of 20, regardless of whether the period featured rising or falling prices. The trading volume is so important because it helps you interpret market movements. High volume adds significance. When a period has a high volume, many traders backed the price movements of this period, which means that the market is likely to continue in the same direction. Low volume questions significance. When a period has a low volume, few traders backed the price movements of this period, which means that many traders will question the period s movements and likely invest in the opposite direction to profit from they consider a wrong movement. As you can see from these examples, the volume only makes sense in relation to preceding periods. A volume of 300 says nothing until you know whether the preceding periods featured a higher, lower, or similar volume. A volume strategy uses the volume of each period to create predictions about future price movements. When a period has a high volume, a volume strategy predicts that the market will continue to move in the same direction. When a period has a low volume, a volume strategy predicts that the market will reverse. When a period has an average volume, a volume strategy will ignore it. How To Execute A Volume Strategy. To execute a volume strategy with binary options, follow these steps. Look for significant periods. Look for gaps, periods with strong movements, or dojis periods where opening and closing price are almost identical. Analyze the volume of these periods. If the trading volume was high during the period, predict that the market will continue to move in the same direction; if the trading volume was low, predict that the market will reverse; if the volume was average, ignore the period. Invest accordingly. Trade rising prices with high options, falling prices with low options, and stagnating prices with ladder options that predict little movement. Keep your expiries short with this strategy. Ideally, limit them to the next period. In a 30-minute price chart, you would use an expiry of 30 minutes, for example. Long-Term Strategy. Binary options are primarily short-term investments. But if you want to invest for the long term, binary options have a lot to offer for you, too. How to trade a long-term strategy. While binary options are mostly short-term investments with expiries of a few minutes to a few hours, most brokers have also started to offer long-term options that allow you to make predictions for the next months and the next year. These strategies are high low options with a longer expiry. You predict whether the market will trade higher or lower than the current market price when your option expiries. A long-term binary options strategy should be based on trends. Over the course of a year, long-term trends dominate the market and dictate what will happen next. Identify these trends, and predict that they will continue. To avoid weakening trends, you can use technical indicators such as the Money Flow Index MFI , which allow you to identify trends that are running out of momentum. Why Trading A Long-Term Strategy Can Be Profitable. When you trade a long-term prediction with regular assets, you can average a profit of about 10 percent a year. That is a great result, but binary options can do better. Assume that you have found a stock of which you are almost completely sure that it will trade higher one year from now. Take a look at the current price charts of Google, Amazon, or Tesla. Such stocks would offer the ideal basis for such an investment. When you predict that these stocks will rise with binary options, you can get a payout of about 75 to 90 percent in one year. Regardless of how well these stocks do, when you buy them directly on the stock market, you will never make a profit that rivals this return. Now, of course, you have to account for risk. When you lose your trade however unlikely you think that this event may be you lose all the money you invested. This is why it is a bad idea to invest all your money in a single trade. Spread your money over multiple stocks, currencies, markets, and commodities, and never invest more than 5 percent of your overall account balance in a single trade. Also, never invest all your money. With this strategy, you should still be able to make a return that is higher than what you would make with stocks, but you reduce your risk. With digital options, the straddle strategy is easier and more profitable than with other types of financial assets. What Is A Straddle Strategy. A straddle strategy follows a simple goal it wants to make you money regardless of the direction in which the market moves. With conventional assets, this strategy was difficult to execute. Traders had to buy short and long assets at the same time and hope that the profit from the successful investment outweighs the losses from the unsuccessful one. With stocks, for example, traders would be a stock and short it at the same time. They would then set up stop-losses for both trades. If the market moves upwards, they would lose the short trade and hope that the long investment makes enough money to make up for these losses. If the market moves downwards, they would lose the long trade and hope that the short investment makes enough money to make up for these losses. With conventional assets, this strategy was a mess. There were fees on every trade that complicated things, and it was impossible to make two investments simultaneously. The resulting time delay meant that a straddle was never perfect. Finally, the profit from the winning investment was often insufficient to outweigh the losses from the losing trade. Luckily, binary options can simplify the straddle and make it more profitable. How To Trade The Straddle Strategy. Binaries have taken the straddle and packed it into one asset boundary options. Instead of having to invest in two assets at the same time which is impossible , boundary options allow you to create a straddle with a single click. Boundary options define a price channel around the current market price. If the market leaves this price channel, you win your option; If the market fails to leave the price, you lose your option. Both target prices of the price channel are equally far from the current market price, which means that you automatically create a perfect straddle. Many binary options brokers offer two types of boundary options. One type of boundary options uses two nearby target prices and offers a payout of 70 to 75 percent. One type of boundary options uses two faraway target prices and offers a payout of up to 300 percent or higher. Choose the type of boundary option that you like best, and you can easily trade the straddle strategy with binary options. Robot Strategy. To execute a binary options strategy well, you have to ban all emotions from your trading and do the same thing over and over again like a robot. Some traders took the next logical step and let a robot do all of their trading. Here s how you execute a robot strategy.