Terareum Centralized Cryptocurrency Exchange — The first big exchange ready to open in these…

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  1. Introduction:
  2. Common Questions & Answers about exchanges
  3. Years after calling Bitcoin 'rat poison,' Warren Buffett just invested $1 billion in a…

“Fast, Agile, Secure, Responsive, Customer Centric Cryptocurrency Exchange — Integrating these for rapidly changing conditions and a secure cross-border digital era ”. — Praveen Buddiga MD, Senior Advisor — Terareum Project

Terareum Cryptocurrency Exchange - Server
TERAREUM Cryptocurrency Exchange

Introduction:

When Mr. Milton John Mathew & Dr. Ramana asked me to come aboard the Terareum team in an advisory role, I promised myself to approach and visualize it through a customer-centric lens. What would I, as a customer or end-user want? Whiteboarding the schematics with these 2 founders was not an easy task — their demand for the highest quality and security along with my push for being customer-friendly was a specialized undertaking.

Milton John Mathew, CEO — Terareum LLC stated that* “ I wanna make cryptocurrency trading disruptive and a transparent experience where it allows one to generate wealth and secure financial futures with bank-like functionalities as well as instant transfers to private banks of the holder/end-user effortlessly”.

Expecting to launch shortly in Q3 2022 the Terareum Cryptocurrency Exchange may be your lead in to your “personal digital fintech era”. But let’s start educating ourselves;

Common Questions & Answers about exchanges

Question 1 — What is a Centralized Exchange or CEX ?

A centralized exchange functions similarly to a bank (a governing central authority) where buyers and sellers trade via buy/sell transactions that are logged on an order book and depending on the exchange you can trade your FIAT currency (government-backed currency such as US Dollar ) for a cryptocurrency such as Ethereum, Bitcoin, BNB [native token to the Binance Chain or Binance Smart Chain ], Terareum { TERA = native token of the Terareum Cryptocurrency Ecosystem } and many others. The job of the crypto exchange is to match a buyer to a seller and vice versa for which it charges a transaction fee. Most cryptocurrency centralized exchanges have Crypto /Crypto pairings although some exchanges offer FIAT/Crypto {USDT/TERA} pairings that entails exchanging a stable government currency like United States Dollar for an equivalent Ethereum or Bitcoin or Terareum value under present market conditions.

Question 2 — How does this differ from the function of Decentralized Exchange or DEX?

A decentralized exchange is an exchange that has no governing central authority or bank-like structure to hold your funds — it behaves similar to a free marketplace where buyers and sellers depend on smart contracts or computer codes to process buy/sell transactions between one another.

It is a peer-to-peer trading platform. The challenge with a decentralized platform has always been liquidity and as long as this remains less popular with low liquidity, centralized exchanges will tend to dominate.

Among cryptocurrency traders, the most popular decentralized exchanges at the date of this writing are UniSwap, SushiSwap, PancakeSwap & 1inch. All transactions are directly on the blockchain and all contracts are executed or transacted “on-chain” ie; no middleman or no bank or no central authority oversight.

Question 3 — How will the TERAREUM Cryptocurrency Exchange be different? — Important bullet points below:

Customer-Centric

Easy to use & aesthetic (UI) User Interface

Technologically advanced (UX) User Experience

Real-time fair market value to Cryptocurrency assets

Instant transfers to the user’s private bank account for easy/timely withdrawal

Know-Your-Customer (KYC) audit checks

References:

1- Buffet and Munger invest in Cryptocurrency Bank — NuBank

2- “CFTC Chair: Cryptocurrencies have a future, They are here to stay”, Nick Chong https://www.newsbtc.com/tech/cftc-chair-cryptocurrencies-have-a-future-they-are-here-to-stay/

3- CryptoDad- The fight for the future of money by J.C. Giancarlo- Published by Wiley & Sons Copyright 2022

4- Cryptocurrency Investing by Kiana Danial , CEO InvestDiva Published by Wiley & Sons Copyright 2022

5- The Cryptopians by Laura Shin — Published by Public Affairs Copyright 2022

Disclosure: Praveen Buddiga MD — *Not Financial Advice (NFA)/ (DYOR) Do your own research / Do your Due Diligence and please read the disclaimer below.

*Investment Disclaimer Warning: Trading cryptocurrencies may not be suitable for every type of investor and you may end up losing your investment. Please do not invest more than you are willing or can afford to lose. Please self-evaluate your risk tolerance, investment objectives, and experience level and maintain a well-balanced diversified portfolio.