Dexilon Review – Proving That Derivatives Trading Shouldn’t Be Too Complicated

Dexilon has the potential to revolutionize how people trade derivatives on non-crypto assets such as metals, energy & soft commodities. Dexilon crypto derivatives exchange is able to launch any kind of contract that requires parties who own an asset or have access rights over one in order for it to be traded. Keep reading this Dexilon review to learn if this new decentralized exchange is worth trying.

What is Dexilon, and why should you bother to sign up?

Dexilon is a best-in-kind DeFi derivatives exchange that runs on the custom blockchain with the central limit order book. One of the most important things about Dexilon crypto decentralized exchange is its ability to offer transparent trading and immediate execution with pocket-friendly fees. This combination makes it stand out from other exchanges that have higher entry levels or larger trade sizes for crypto tokens like Bitcoin.

How to use Dexilon and is it beginner-friendly?

The guide on how to trade derivatives on Dexilon literally consists of 4 steps:

  1. Connect your wallet (can be either Binance or MetaMask)
  2. Deposit funds (you will be able to deposit USDT and USDC)
  3. Buy or sell derivatives.
  4. Track your position (get access to monitoring your current and historical trades).

While the general idea seems quite straightforward, when you dig deeper, you see that there’s definitely a need for further instructions. For example, here are some directions on how to connect your MetaMask wallet to the exchange:

  1. Install the Metamask Google Chrome extension, if you haven’t yet.
  2. Connect your wallet through the Sign In or Sign Up process depending on whether you’ve already registered and used it before.
  3. Once you install the wallet, you’ll be able to log in to Dexilon.
  4. When you do that, Dexilon will request you to set Polygon Mumbai as your preferred network. Press “Agree”.
  5. Deposit your coins. Find the detailed guide with screenshots here. 

Dexilon exchange is completely user-friendly with a simple process that even beginners can follow. Sure, if you’ve never dealt with derivatives, you’ll need to take some time to get the hang of it, but the platform’s guides as well as Dexilon’s support reps will be there to help you go through the process. Remember, they want you to earn your rewards, too. The more you earn, the more they earn, so go ahead and ask for help if you need it.

What assets are supported by the Dexilon dex platform?

The future of derivatives trading got a lot better! With the recent launch of Dexilon, an exciting new decentralized exchange that allows even more traders and investments to take part in this booming market. 

Now you can swap out these most popular assets: Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), Cosmos (ATOM), Dogecoin (DOGE), and Polygon (MATIC). The platform’s quite new and it’s growing fast, so expect more coins to come in the near future.

What features are most valuable for Dexilon’s potential traders?

Dexilon is the first new dex crypto exchange to offer a fully decentralized limit off-chain order book on a native blockchain with high TPS. This platform is aimed at setting the standard for the crypto derivatives market, emphasizing security and transparency in this volatile market full of risks like hacks or frauds that can happen at any time.

The exchange’s most notable features are: 

  • A wide range of derivatives, like perpetual futures, cash-settled delivery futures, options, and exotic derivatives are at your disposal. Choose any that appeals to your palate. 
  • Liquidity incentives. Trading fees are redistributed between makers and takers;
  • Self-custody service. You are the only one who gets access to your funds – the best of DeFi is working for your profit.
  • Transparent and auditable trading. Trade settlement, liquidations, and fees are on-chain, which guarantees full transparency.
  • Skip unnecessary fees. You don’t have to pay the gas cost for each request, since nodes are paid from the taker fee.
  • No KYC requirements for trading which saves you valuable time. While others will be still going through numerous verifications, you’ll already be trading.

Although quite new, the platform seems to put an emphasis on customers’ needs while dropping the unnecessary frills that restrain you from earning your crypto rewards.

How about the fees? Will you have any yield left after you pay them?

Let's say you're a maker. You've got an arsenal of contracts in your back pocket that are waiting for just the right moment when they can make some profit from them, but there is one problem: fees! Nobody likes them, but why would anyone create a fabulous platform with no fees? With Dexilon, you get the chance to join the cohort that will be paying the lowest fees while the platform is actively growing.

Currently, makers and takers pay different fees. However, both of them can cut down on them. For example, takers can bring their 0.05% fee down to as low as 0.015% as they increase their trading volumes and the number of DXLN tokens in their wallet. As for the makers, they can get a 0.01% rebate on limit order trading.

Is Dexilon safe? How is it secured from crypto fraud?

You don’t have to worry about losing your funds at Dexilon since this futures platform is fully decentralized.  Thus, your funds will be locked within the smart contract. This eliminates any possibility of an external threat taking over control like what could happen with exchanges that hold user assets on site until trading is completed. Decentralization makes the experience safe for the traders. Those who use this platform looking for better prices also saw over time that Dexilon is safe and legit and can be trusted to earn awesome rewards on crypto tokens.

In conclusion, it’s quite understandable that you have doubts about investing money in a relatively new platform. Nevertheless, there are already some Dexilon reviews out there that will give you a more comprehensive idea of whether you should trust this platform. One of the biggest pluses of this decentralized exchange is that your money won’t be stored on the platform but rather locked in a smart contract making it a safe place to trade derivatives.

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