Torex.One is the team of cryptocurrency enthusiasts, business managers, and software engineers from Ukraine that had embarked on a path of developing a one-stop-shop cryptocurrency trading platform that will combine data from different exchanges and also provide a host of tools for technical analysis and news aggregators.
Torex.One promises to create an ecosystem that would be connectable to the trading modules on different exchanges through API; offer PAMM trading option, in addition to the conventional spot and margin trading; introduce a crypto betting feature; incorporate a messenger through which traders can share their experiences and strategies.
By connecting the APIs of industry’s most popular and reputable stock/cryptocurrency exchanges, Torex.One will give its users an opportunity to monitor the current prices, trends effectively, and use indicators in order to make the most informed decision possible and sell an asset at the most favorable rate without the need to manually log in to each of the platforms to perform the trade. The team also promises that the additional options will appear at the later stages of platform development, though they didn’t specify which ones.
By crypto betting Torex.One means the familiar binary trading, which is, as most of you know, is not that much different from gambling. Users will have to guess whether the price of a given coin is going to be higher or lower than the current price within the established time period, for instance, a minute, an hour, etc.
The project is also going to realize the concept of trading signals, an approach of doubtful efficiency but nevertheless popular, especially among nascent traders. Apparently, this feature would be quite similar to the numerous Telegram groups, where traders, some of which are genuinely experienced and knowledgeable, but the majority are either incompetent or just plain charlatans.
It hasn’t been made clear in the whitepaper, how exactly the system of signal sharing is going to be organized: whether the project would gather a group of expert traders or would it be an open playfield, where anyone can start a channel and offer his advice to the followers. However, signal sharing will be an important part of Torex.One’s token economics since users will have to purchase a subscription to these channels with TOR, the ERC-20 compliant token that will also serve as a means of trading against other cryptocurrencies, obtaining access to platform’s premium features, and receiving rewards for different activities.
The sale of TOR tokens will be conducted by means of the exchange offering on Probit Launchpad, followed by several rounds of TGE. The event will start on November 28. The price of 1 TOR is set at $0.63, with the minimum purchase amount being $500. Torex.One will try to raise at least $5,6 million - the maximum goal is $57 million. Torex.One did impose any country restrictions.
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|Start||November 28, 2019|
|End||November 29, 2019|
There are many solutions that are similar to what Torex.One is trying to promote. One of them is Coinigy, a great platform where I conduct most of my trading. Therefore, I would be interested to know whether Torex would come up with something better. I am skeptical about trading signals since most of them are wrong, and nobody has ever taken responsibility for bad advice. It’s far more profitable to use your own brain when trading.
Burntoast097 July 13, 2020 Reply