We have recently concluded our AMA with EliteX Co-Founder Kent Kruusmaa, and here are some of the questions from the #Coinswappers that were answered during the online event.
- EliteX exchange as we know is a small exchange, What are your plans for clients to not go over to big exchanges like Binance or Coindesk? — We know we are small and far from being perfect for pro traders, but we have a strategy on how we can add a lot of value to new crypto boomers! We start listing every week new DeFi Tokens what is getting good traction in the marketplace. We Just added United token, Eventica, and CSS last week. This week we added SHIBA INU and more new tokens coming up shortly. We believe that this strategy will attract new small communities of beginners and gives them a place where to trade with lower fees compared to the average DEX. Next month we have a massive upgrade on the interface and by Christmas, we have added also staking and trading games and much more. www.elitex.exchange.
- 2. KYC process on EliteX exchange is being done manually, Can you upgrade the KYC by selfie, same Binance, or other big exchange? — Yes. The new KYC system with a company called Sumsub (one of the biggest verification companies in the market) will be active already before Christmas. Then Users can finish their KYC in 2 minutes waiting time when all documents are correct. We will keep Entry without KYC(up to 10000 USD), So the first trades can be done fast and easily without interruptions.
- What benefit for investors when CSS is listed on EliteX exchange? — More Trading opportunities in the platforms like Elitex Exchange where CSS was not known before, brings new Audience who would possibly love to buy it or trade with it. It can be someone who just did not know about the project or someone afraid to buy from DEX. Every new customer adds value to the community and makes it stronger and more attractive for others. This creates extra demand and a brighter future for CSS tokens.
- When can an investor deposit or withdraw CSS in this exchange? — The Trading/deposits and withdrawals are open in elitex.exchange. Anyone can already use the exchange Fully and deposit and trade CSS in eliteX in any amount. The active Currency pairs are CSS/UTED, CSS/ETH, CSS/BTC, CSS/USD. And being one of the first liquidity providers creates an opportunity for defining the selling prices(for example, buying from Coinswap or PCS and selling with bit higher rates in elitex.exchange.
- How much fee when it comes to withdrawing CSS from exchange to BSC wallet? — Trading CSS in EliteX Exchange has a trading fee of 0.1% from today. (usually is up to 0.2%). Withdrawals are changing based on blockchain Transaction fees in BSC and change every day. Before withdraw user can see also the exact fee.
- Do you have an arbitrage tool for rebalancing CSS price between BSC and EliteX exchange? — Sorry, We don´t have this type of tool. This is an opportunity for traders to take advantage. Anyone with a little trading experience will understand how to take advantage of the price differences.
- What ecosystem does EliteX have? Can you tell me the current EliteX roadmap? — October 2021 LAUNCH OF ELITEX EX TOKEN 10 OCT. 3-PM (CET) EX FARMING — First farm (EX/BNB) starts already 24h after the launch of EX. Second farm (EX/CSS) APR in both up to 250% EX STAKING — starts 1 week after the second farm. (APR close to 250%) November 2021 BIG INTERFACE UPGRADE- The whole appearance changes more modern and comfortable. MULTIPLE BLOCKCHAIN OPTION- Users can deposit USDT in ERC20, TRC20, or BSC, and the same for many other coins. CASH TRANSFERS- Money in and out via IBAN accounts. EX ACCEPT FOR PAYMENTS- Pay the Exchange fees with EX and get a 50% discount on trading fees. Januar- ELITEX APPLICATION LIGHT version February- APPLICATION PRO BURN OF THE EX TOKENS Full roadmap is visible in www.elitex.exchange.
- EliteX is a very good project, but sometimes quite difficult to understand, so do you have any guides or tutorials? — We start releasing Video Tutorials and How-to Guides on Youtube. The first ones are about EX token and will be released already Tonight. Every week we add more instructions and videos to the database. We have just started sharing also the trading charts with basic analysis about what the charts of BTC or ETH are showing and what is the possible outcome. later This feature will be fully integrated into the EliteX platform, so new traders can read the analysis and learn how to trade better. Currently, we share the charts in our TG group.
- I am a crypto investor and I only care about the prospect of crypto that I chose, tell me the reason why I should choose your token over the existing one? What is your token advantage that can convince me to change from my favorite token? — We launch EX without any team tokens on the launch. Which means that all participants are buyers. The price will have huge momentum and people get excited. EX can be staked and farmed with high APR and in EliteX Exchange, it can be used as a utility to pay for the trading fees (same way like Huobi Token or BNB ) EX has incentives for the short term and also for long term Holders. Whichever is your trading strategy, you can profit from EX launch already in 3 days! NB. But don´t be late, the price change, in the beginning, happens rapidly.
- What are in the roadmap for EliteX? — October 2021 LAUNCH OF ELITEX EX TOKEN 10 OCT. 3-PM (CET) EX FARMING — First farm (EX/BNB) starts already 24h after the launch of EX. Second farm (EX/CSS) APR in both up to 250% EX STAKING — starts 1 week after the second farm. (APR close to 250%) November 2021 BIG INTERFACE UPGRADE- The whole appearance changes more modern and comfortable. MULTIPLE BLOCKCHAIN OPTION- Users can deposit USDT in ERC20, TRC20, or BSC, and the same for many other coins. CASH TRANSFERS- Money in and out via IBAN accounts. EX ACCEPT FOR PAYMENTS- Pay the Exchange fees with EX and get a 50% discount on trading fees. January- ELITEX APPLICATION LIGHT version February- APPLICATION PRO BURN OF THE EX TOKENS Full roadmap is visible in www.elitex.exchange.
- What are the main goal and the main reason why you decide to do a partnership with the team of coinswap.space? — Coinswap is a very successful young exchange that has an extremely talented technical team. They have a very advanced and lucrative award system for farming and staking. (Very high APR 😎) That is more profitable than anywhere else. I also know the creators of this platform for already a long time, and I believe that anything they do, will turn out to be a success. It also helps that I was one of the early investors in the CSS launch and got massive growth for the coin.
- As a new exchange, what are your plans to grow? — The goal is to give out as much as possible customer engaging activities and Incentives for the young crypto crowd and make trading as easy as possible. We started sharing daily trading Ideas for young traders that give people a better understanding of the charts, price movements, and indicators. We partnered up with the marketing team who built the brand for Chainlink, Cosmos, and many others and now finding different cooperations with other similar platforms to grow our audience together.
- Are we going to expect more from EliteX as an exchange and from your token? — First the Ex, then EliteX! The launch of the EX is only in 3 days and as it will be a massive success, it will attract a lot of new communities to our platform. What better growth we have for the community, the better we can develop the platform. The best thing to find out is to participate in the launch of EX and follow the news on our official channels. If you have ideas of what we should do or some projects are looking for partners, then connecting us with a project can also give you financial benefits. All the eXchanges who are big today started as small ones once. Sharing crypto-related news or movements in the market will help the crypto further and moves it towards the masses. Every Exchange is helping to grow crypto and every person can help here, by just sharing their favorite projects in their Social circle.
- How do you evaluate the support from the community? What is your strategy for marketing and mass adoption? What message do you want to send to the community through this AMA? — Currently, everyone loves the thing that we do and we get great feedback from our community. If there are 1000 real fans in the community and everyone is sharing info about the launch, it will reach 10 million people and the project will have massive success. Share the info every day and it will be good for all of you as it is for us. What goes around, comes around.
- I was just curious to ask, what do you see as the vision of this project, and how it will be different from other exchanges? In 2 years, what will be this exchange’s unique part that others don’t have? — The crypto market changes very fast. 2 years ago DEX and DEFI were unknown. Today is the main thing that people do. The same Goes for NFT for example. We believe that if we are going to develop the elitex platform better for the users and keep up with the trends in the market, it will bring success. We don´t need to be special for this, but just to take care of our community's needs. the simplicity of an application will play a big role and of course, engaging the people who are yet not in the crypto space.
- I’m messaging from Nigeria, Africa. my major concern is will your services be made easier for us down here (I mean partnering with our banks to allow easy funding of my account through my bank). If not I’ll like to know what are the plans to make the service one of the talked exchanges around. — We are aware of the issues that many countries have regard of having low access to crypto. The issue cannot be solved so much by exchanges as it can be through awareness. Banks and governments are going eventually towards the regulations of what is the most demanded and needed by the people. If people are aware of the crypto space, they will find a way how to participate. If enough people go around the banks and find a way to buy crypto anyway, then eventually the banks will adapt as well, since they don't want to be left out. The things that we can do, share the word and make more people aware of the possibilities. Crypto adaption is happening and It will eventually become the type of currency that our children will use, But today it is our responsibility to fight for the freedom of our money.
After the AMA, it was announced that all currency pairs with CSS in EliteX Exchange are now -50% (0.1%). CSS/BTC, CSS/ETH, CSS/USDT, and CSS/UTED.
Also, it was mentioned that EliteX will be the first-ever project which will take part in the new protocols of CSS: FAAS — farm as a service, and SAAS — stake as a service. So don’t forget guys, 10th of October at 15:00 CET! Get ready for the LAUNCH!