What is Hashflow (HFT)?
Hashflow is a decentralized exchange platform that focuses on interoperability, slippage elimination, and protection from Miner Extractable Value (MEV). It has zero commission trades and executes all prices as displayed. Furthermore, Hashflow enables effortless cross-chain trading without the need for middlemen or synthetic assets, guaranteeing fixed price execution across various blockchains.
How does Hashflow work?
Hashflow offers a secure and reliable platform for cross-chain asset trading without the need for intermediaries. It prioritizes protection against slippage and Miner Extractable Value (MEV) exploits in all trades, both local and cross-chain.
The platform uses a blend of on-chain and off-chain Request for Quote (RFQ) systems to get quotes from market makers who manage liquidity in on-chain pools. The quotes are cryptographically signed, ensuring fixed and unchangeable prices during the trade and protecting users from MEV exploitation.
Hashflow also prevents cross-chain slippage, which can occur due to price movements between the validation of a transaction on the source chain and its execution on the destination chain.
What is the HFT token?
HFT is the key currency for the Hashflow protocol and its game-like governance platform, the Hashverse. By holding HFT, users can access a variety of perks and advantages within the Hashflow system.
Buying Hashflow on Kraken vs BingX
Cryptocurrency trading occurs on exchanges similar to stock exchanges, but specifically for digital currencies. Most exchanges have a fee structure that varies based on a user's 30-day trading volume, which is why understanding these fees is important for optimizing profits.
Fees for cryptocurrency trading can differ significantly between platforms. Some charge a set fee for all trades, others charge a percentage of the trade value, and some offer reductions for memberships or high volumes.
Kraken imposes a 0.16% fee for makers and 0.26% fee for takers on most trades, with reductions accessible to users who own the exchange's native token (XBT) or who engage in heavy trading. BingX imposes a 0.075% maker fee and a 0.075% taker fee for most trades.
The table below provides a quick comparison:
It's important to keep in mind that these fees are subject to change and to check the latest fee schedule for the exchange you plan to use.
Services and Features Offered
Kraken is a cryptocurrency exchange that allows users to buy bitcoin using fiat currency and has a daily trading volume of over 1 billion USD. It supports the exchange of 49 cryptocurrencies, with a low trading fee of 0.26% compared to Coinbase's fee of 3.66%. Despite its lower fees, Kraken has a reputation for slow customer support and past market-related issues. Negative feedback often stems from its mandatory account verification, which is required for compliance with US laws. Kraken targets inexperienced traders and offers a maximum leverage of 5X for margin trading.
On the other hand, BingX is a global digital financial institution that operates in countries such as North America, Canada, the EU, Hong Kong, and Taiwan. It offers various financial services including lending, borrowing, staking, and cryptocurrency trading. BingX also provides a referral program, trading competition, and a copy trading feature that allows users to follow their preferred trader's trades.
In conclusion, while Kraken and BingX have different services and features, the ideal platform depends on the user's needs and preferences. It's crucial to thoroughly research both options and consult with financial advisors before making any investment decisions.