Catex Exchange Rating
Catex is a recommended exchange for cryptocurrency trading, the exchange offers all of its clients an intuitive trading platform with good customer service. You can sign up in the link below or continue reading the full Catex review to learn more about Catex.
Despite the recent spike of trade volumes in DeFi exchanges, the cryptocurrency ecosystem is still largely dominated by centralized exchanges which are being managed and operated by some profit-minded corporate entities. However, there are a few centralized trade platforms that differ distinctly from their peers; Catex is one of them. In this Catex Exchange review, we will give you an all-round overview of what to expect from the site.
At its core, blockchain technology should be the true realization of a human democratic system of governance; with no form of centrality nor a one-sided concentration of institutional influence. But this is why it has played perfectly into the hands of big corporate entities. In principle, the concept of a centralized platform for trading cryptocurrencies contrasts sharply with the decentralized possibility of blockchain technology.
Hence, decentralized crypto exchanges are sometimes seen as the purest application of blockchain to model an independent system for financial transactions.
However, most of the top global exchanges today belong to the centralized category. Despite raking profits worth billions of dollars yearly, these platforms do little or nothing to bridge the gap between the poor and wealthy, acting rather similar to their traditional counterparts – the commercial banks.
This is why the China-based Catex exchange is one of the most interesting crypto trading sites today. Now, let us dive in quickly to see what they have to offer.
|Form of trade||Trade mining|
|Assets||Bitcoins, Ethereum, LiteCoin, Ripple, Neo and other altcoins|
|Learning materials||Not available|
|Trading tools||Market updates, price charts and indicators|
|Trading platform||Mobile website|
|Customer support||Email and ticketing service|
|Interface||Simple and intuitive|
An Introduction to Catex Exchange
Catex, established in August of 2018, has its headquarter in Shenzhen of China where it has continued to operate and manage its daily operation as a global platform for cryptocurrencies trading.
Over the years, Catex’s user base has grown to include citizens from countries such as Russia, South Korea, Bangladesh, Indonesia, India, Turkey, the Middle East, and even the USA.
Though not yet in the top 10 or 5 in the ranks of biggest crypto exchanges, Catex is well on the path to being in the top tier. This is because Catex exchange has continued to carve a reputation of being able to roll out unique products and services that the entire crypto industry cannot resist.
You will learn more about them as you read on.
Catex: the first “Trade mining” crypto exchange
Trade mining, a new expression in crypto terminology, describes a mechanism by which users of a platform (traders and investors alike) fuel the creation of new tokens through their activities. With this mechanism, additional Catt tokens get mined whenever a user completes a single transaction on the site.
Using this model, Catex can pay its users for initiating transactions; unlike other exchanges where it is the users who pay to trade.
Of course, the exchange has a fee schedule for transactions. However, Catex sends those fees back to users’ accounts in the form of Catt tokens plus an extra 5% bonus. The deposited Catt tokens can easily be swapped to other cryptos such as BTC, ETH, etc.
An even more interesting aspect of the Catex exchange is its dividend-sharing policy. Daily, Catex shares 90% of its revenue among users who are Catt token holders. Therefore, only 10% of revenue goes to the exchange management, advertising, employee compensation, and future developments.
It is worth noting, here, that the dividends are shared according to the amount of Catt tokens held by a user on the day. To sum it up, while traders’ activities are automated to mint additional Catt tokens, Catex uses the profit-sharing offer to incentivize, to convert its users into long-term investors of its native token.
The more Catt tokens a user holds, the more Catt tokens the user earns. Also, Catt tokens total supply grows directly according to users’ trade volume. Indeed, these mechanisms cannot be found on rival exchanges.
Catex: A community-centered crypto exchange
Catex stands out from its competitors; even with a centralized system of management, changes or strategies are not approved or implemented if they do not align with the community demands. To ensure things stay that way, Catex uses a community voting system where the platform’s developers list out their plans for approval. The voting results determine if a decision is accepted or not.
It is safe to say that Catex is the only centralized crypto trade platform that is managed by a decentralized authority.
The exchange also provides its users a highly intuitive platform through which investors can securely buy, store and sell various digital tokens.
We will now take a deeper look at each of these features.
Catex Exchange Trade Platform – Web and Mobile
In our appraisal of the trade interface and the process flow of carrying out transactions on this exchange, we consider the following factors carefully: Catex exchange’s UI/UX, ease of navigation, user-friendliness, and speed.
While we consider each of these features important, speed may be the most important factor here. Why? It is what every trader needs to capitalize upon in the arbitrage opportunities in assets’ price volatility.
That said, Catex’s first solution for meeting its users’ needs is by making its platform accessible on various channels and devices. Traders can log in or sign-up on the exchange through the web version or the mobile application. This goes a long way to ensure investors enjoy a eamless trading experience while transacting with the exchange; they would never have to fractionate or temporarily stop their trade activity.
It is also worth stating that on each of these platforms, Catex employs a simple and user-friendly interface, that contains every interface a user will need on his crypto investment journey, whether beginner or experienced.
To log in using the web version, head over to the official Catex exchange website and click the login button on the homepage. You will be required to enter your account username and password.
Once logged in, you will find features such as a price chart, the sell and buy buttons, orderbooks, transaction history, and many more on Catex exchange’s trading view. There are also advanced tools such as market indicators for analytics.
The mobile platform is the best option for clients who prefer to monitor their crypto holdings on a real-time basis and also stay updated with the market at all times. It also has all the functionalities available on the web platform. Furthermore, users would not have to input their access details in every login session as they would on the website.
To download the app, simply go to the Google Play Store or Apple Store and search for the app.
Catex Exchange Tokenomics
Catt token is Catex’s exchange native token. Based on its utility mechanism, it functions as the fuel that governs every operation within the exchange’s ecosystem.
Catt token is issued on the Ethereum Virtual Machine as an ERC-20 compliant token. Generally, the token holders have a lot of benefits by merely saving the tokens in their wallets or by using them to pay transaction fees.
As at the time of writing, there are 2 billion Catt tokens in circulation, with additional tokens unlocked weekly. Already, we have described how the exchange intends to make the tokens compete favorably against the native tokens of similar exchanges through its dividend-distribution program and proprietary trade mining concept.
In the future, the exchange developers aim to introduce a new listing model for the token to give it a better standing among other native tokens. The Catex team announced a schedule to gradually burn a total of 8 billion Catt tokens (this equals 80% of total Catt tokens issued) over 3 months.
The total burn amount is split between 4 billion team tokens and 4 billion Catt tokens reserved for trade mining.
See the full schedule below:
- 5 Billion Catt tokens to be burnt on September 29th (comprising 2.5 billion from trade mining reserves and 2.5 of locked team tokens).
- 1 Billion Catt to be burnt on October 29th (comprising 0.5 billion from trade mining reserves and 0.5 from team allocations).
- Another 1 Billion Catt to be burnt in November (comprising 0.5 billion minable supply and 0.5 from the team’s allocation).
- The final tokens burn event is scheduled for December 29th during which 1 Billion Catt will be burnt (of which 0.5 billion are from the minable supply and 0.5 billion from the team’s allocation).
Catex Exchange security protocol
Security is probably one of the most prioritized features across the blockchain industry today.Crypto enthusiasts, project developers, miners, traders, and even crypto skeptics always include security in their list of concerns regarding the sustainability and growth of the ecosystem.
In truth, the high level of consideration given to the topic is not without merit. Across the cryptoindustry today, fraudulent activities of all kinds have become rampant; ranging from money laundering, terrorism financing, cyber theft, and even personality blackmailing through the misuse of individual identity. This shows that money is not the only thing at stake here.
Crypto investors must do everything possible to protect their funds and personal data, and it is the business of exchange platforms to seriously see to it that their clients get the highest level of security on offer.
To do this, most exchanges have realized the need to create standards and implement the most sophisticated security measures, not only for the benefit of the users but also for themselves. Catex Exchange understands all of these and works hard to provide users with the necessary protection.
Catex Exchange secures users’ data and funds with the most complex and fail-safe technologies which comprise the complicated security protocols required to make a network unbreakable. This includes the use of cold wallets to store clients’ assets, DDoS security protocol, Firewalls to prevent network attacks, mobile servers with enterprise-level of protection, and top-notch penetration tests to identify and prevent buggy security issues.
Catex Cold Wallets
Catex stores 80% of clients’ holdings in cold wallet facilities that are operated offline. The following are just a few of the benefits:
It provides adequate security as funds are safeguarded in locations that can not be remotely accessed through the net.
It serves as a double measure of protection in the event of a successful cyber attack against either the web or mobile platform. Therefore, it helps to minimize potential losses if an incident occurs.
According to Catex, the 20% of users’ funds left on the platform is necessary to maintain the steady operation of the exchange, as well as the processing of withdrawals.
Penetration testing, otherwise referred to as ethical hacking, describes the process of finding security loopholes in a computer networking system or web server that a hacker can leverage to circumvent all other security measures in the network. Most security-focused crypto exchanges employ this concept when establishing the security mechanism of their platform.
Catex Exchange is no different. Through the use of professional penetration testing methods, the exchange ensures that possible vulnerabilities in the system get detected early, before attackers can take advantage.
Catex use of DDoS protection
Distributed denial-of-service protection refers to the cyber security practice of shielding the targeted server from a planned attack, from a DDoS disruption, to completely avoid the threat or minimize its impact.
By their design and underlying architecture, crypto exchanges are not entirely free from suffering DDoS incidents. However, with a trading platform, the aim must not be limited to minimizing the impact of a successful hack but frustrating hackers’ effort to breach the security protocols.
Catex Exchange realizes the importance of these things, and as a measure to prevent such attacks, the exchange makes use of sophisticated cloud facilities that are guaranteed to neutralize any attempted DDoS incidence in its network.
This is achieved through the combination of DDoS protection technology like IP reputation lists, IP address blacklisting and whitelisting connection tracking, and deep packet.
Catex Exchange affiliate program
Here is the truth about the crypto exchange referral program:
In most affiliate marketing offers, it is entirely up to the referrer to find his audience and gradually take them step by step on the journey to becoming successful referees, but with crypto, the hype is there already; people in their thousands are already trooping in every day to join the blockchain economy. Thus, a crypto affiliate marketer only needs to rightly position himself or herself and magnetize these prospecting users into active traders using a referral link.
In the face of this reality, most crypto exchanges have begun to see affiliate marketing programs as the better alternative to seeking new accounts on Facebook and other social media.
Catex referral program rewards users with 50% of the bonus when they successfully bring onboard a non-customer into an active trade on the platform. Also, anyone can participate in the affiliate marketing program; a user only needs to log in to his account, then head over to the personal dashboard.
The unique referral link attached carries the referral ID. Also, as at the time of writing, Catex exchange does not impose a limit on the number of referable investors an affiliate marketer may bring. Once some referral bonuses are earned, Catex Exchange deposits the funds into the customer’s account.
Catex Customer Support
The Customer Support quality of a crypto exchange is probably the only aspect in blockchain ecosystems where the human interface cannot be replaced. But more than that, it plays a crucial role in how users interact and transact on any exchange of their choice.
Cryptocurrencies are still regarded as novel innovations in the technology scene. Many of the entrants today had no experience of what trading was like before blockchain came about. Even the experienced traders sometimes find themselves struggling tediously to navigate the unfamiliar trading view available on most exchanges.
For this reason, customer support centers are an essential unit for crypto trading platforms as they help in providing assistance and support to users if they ever find themselves in a spot. It is a red flag when the exchange does little to ensure the selection of only professional individuals to fill in these positions.
Catex, as a community-driven exchange, represents all of these qualities already, even if there was no customer support unit in the project. However, the team has ensured investors always have customer service representatives stationed to receive their complaints, feedback, and questions at all times, while also attending to the needs and requests stated.
Users can reach them through the official email and the ticketing system provided for complaint submission. Typically, responses are given within 24 hours.
There is also an FAQ section where summarized answers are given to the most common questions beginner traders tend to ask. Before logging a complaint on the ticketing system, we suggest going through the FAQ section; there is a likelihood your question has been answered already.
Catex exchange may not be in the top echelons of blockchain projects, but the Chinese-based crypto broker would firmly hold its ground and compete favorably against the industry’s giants.
It is also a trustworthy exchange as it gives utmost attention to the security of its system, from the front end and back end.
And even more remarkably, it is one of the very few centralized exchanges that provide an avenue for passive earning to its users.