eXFi Review – Decentralized Derivative Exchange on Web 3.0

eXFi, established in 2022, is a last-gen decentralized derivative exchange that offers a maximum of 100x leverage for various trading pairs. eXFi provides:-

• A simplistic and user-friendly interface.
• Deep liquidity.
• Advanced risk management.
• Multiple collaterals for traders who can enjoy enhanced privacy.

The trading platform is developed in Layer 2, facilitating low gas fees and quick order fulfillment. Traders can place large trade orders at the best prices without any KYC requirement and enjoy full control of the private keys.

How’s the User Interface of eXFi?

The user interface offered by eXFi is extremely intuitive, combining the advantages of a centralized exchange with a decentralized platform. A quick access bar on the top of the landing page can be used to access trading pairs, and traders can also switch quickly between different currency pairs. 

Right at the interface’s center is a trading chart containing all the important charting tools required for technical analysis. From the right side of the landing page, traders can view the order submission window designed with precision and clarity that allows them to enter their trade orders in USD or using a percentage of their balance. Right at the bottom is an order information window that displays all current, fulfilled, and outstanding trade orders and order history.

eXFi is a transparent derivatives exchange where order specifications are readily available, including margins used for trading, opening time stamp, open/last price, expected price of liquidation, stop loss and take profit prices, funding fees, commissions paid, realized and unrealized PNL as well as ROI.

eXFi Decentralized Features

The digital world is ever-evolving, and new digital currencies are being launched daily. Derivatives play the most important role in financial market movements. There have been several security breaches recorded on various exchanges. Client data has also been stolen or lost along with their funds and identities; they are constantly exposed to risk from criminal attacks. 

A crypto trading platform can be both secure and the weakest link based on the security measures and licenses held by the operators. Decentralized exchanges like eXFi have started to gain traction as traders can enjoy the most simplified trading process while remaining completely secure and private. The eXFi is developed with user experience, scalability, and decentralization in mind. There are various prominent features available on eXFi, including:

• Complete control of private keys. 
• Anonymous trading with a maximum leverage of 100x.

Services & Products Offered by eXFi

Trading Pairs and Collateralization

eXFi provides a wide range of currency trading pairs. Although many traders find them limited, they are proven crypto tokens and coins that are extremely volatile and liquid enough for seamless trading. The crypto trading pairs supported on eXFi are BTC/USD, XRP/USD, ETH/USD, EOS/USD, LTC/USD, ADA/USD, UNI/USD, SOL/USD, and the options keep growing as the platform adds more and more pairs regularly. 

One of the unique features of the eXFi platform is that it allows traders to trade all kinds of trading pairs without having any underlying digital assets. This means traders can open the trades in any trading pair, for instance, XRP/USD, even while using BTC as the margin collateral on the trades. This also allows traders to settle trade outcomes in BTC even though the currency is unrelated to XRP/USD.

Leverage

Traders can use leverage to increase trading profitability substantially. Leverage enables traders to borrow digital assets from an exchange and execute trades orders at a larger quantity than they normally would while maintaining a balance requirement proportional to the leverages used. For instance, let us take the value of 1 ETH token and assume it to be 1000 USD. A long position of the currency pair ETH/USD would typically cost 1000 USD to execute the trade. But using leverage of 10x will allow traders to execute the same trade order with 100 USD in their trading account. 

eXFi exchange allows traders to use a maximum of 100x leverage adjustable on all currency pairs. This means traders can unwind on any pair listed on the trading platform. Leverage also allows the traders to go for short sell. 

Suppose a trader believes a digital asset is going to have a downtrend. In that case, he can borrow, sell, and then buy the asset at a much lower price and repay the amount borrowed, thereby earning a profit on the substantial difference between the selling price and the buyback price. 

It is important to note that leverages involve risks and are not to be used without experience as they may lead to substantial losses.

Liquidity

More than often, liquidity is overlooked when choosing a trading platform. This causes consternation for the traders when the financial markets become illiquid, leading to price slippage and sways. eXFi has gained tremendous popularity and excellence in liquidity as it aggregates liquidity from different exchanges and allows traders to remain calm even while executing huge orders. This allows slippage to remain at a minimum and stops market prices from deviating from the global average. This means the market prices the traders see when they press the short or long button will certainly be the price at which the trade order is opened and placed.

Security

eXFi offers high-security standards that are available in the industry. It consists of multi-layer and advanced security protocols, and regular audits place the trading platform among the top exchanges regarding user safety. Some of the notable security measures include:-

• Real-time monitoring. 
• SSL (secure socket layer) encryption protocol for all information transferred between the devices and the servers of eXFi.
• DDoS protection. 
• Allowing traders to link their email account to their eXFi account.

eXFi – How to Start With It?

1. Go to the official website of eXFi.trade.
2. Navigate and enter the “Connect Wallet” or “Trade Now” tab.

The website will redirect users to the registration field, where they need to click “Connect Wallet” in the right-hand top corner of the webpage.

1. Click on Connect Wallet, and a pop-up message will appear, prompting the users to read all the terms and conditions and link their MetaMask wallet to the eXFi platform.
2. Complete the steps above to move to the crypto “Wallet” page to fund the margin account with adequate collateral and start executing trades instantly.

The moment the transaction is complete on the decentralized blockchain, users can move to the Trade web page and start trading. 

1. Lastly, to withdraw the margin from the eXFi platform, move to the “Wallet” webpage, choose a preferred crypto coin to withdraw funds back to the MetaMask wallet and complete the withdrawal process.

eXFi Fees & Payment Methods

eXFi trading fees are currently the market’s lowest numbers at 0.06% for market takers and 0.019% for market makers. More detailed information on the maker and taker fees for each currency pair listed on the trading platform has been mentioned below:

Unlike other centralized or decentralized derivative exchanges, eXFi provides the lowest rates available on the market on the most popular currency pairs, including BTC/USD, XRP/USD, ETH/USD, SOL/USD, UNI/USD, LTC/USD, and many more.

Deposits and Withdrawals

Compared to other crypto derivatives exchanges, the eXFi trading platform is slightly different from other crypto derivatives exchanges as it is completely decentralized, which means traders can hold custody of their private keys and secure the data while creating a trading account. To deposit funds and start trading at eXFi, all traders need to do is navigate to the Wallet option, follow the instructions to allocate adequate balance, and use deposits as margin while trading on the platform. 

eXFi does not charge any fees for making deposits, but a certain withdrawal fee may be charged, which is standard in the industry. Traders can also deposit in multiple cryptocurrencies such as USDT, DAI, MATIC, USDC, WBTC, PAX, LINK, or other ERC 20 tokens listed on the eFXi trading platform.

FAQs

Is eXFi a Scam? 

There have been no reports to date that prove that the eXFi exchange is illegitimate and a scam. The derivatives exchange has remained the most stable during extensive testing and has performed well under load.

How to Create an eXFi Trading Account?

There is no need to create an eXFi trading account to trade on the exchange. As a decentralized derivatives exchange, users can simply log in with their MetaMask account and get their hands on trading without providing additional financial or personal information. 

Does eXFi Allow Short Selling?

Using leverage, eXFi allows users to go short or long on different crypto trading pairs.