[ALERT] 0x (ZRX)
Recommendation: 0x (ZRX)
Buy-up-to Price: $0.60
Stop Loss: None
Buy It On: Binance, Poloniex
The pattern and waves are all pointing up! There is a Cup & Handle that indicates parabolic higher highs. It signals a trend reversal so we think the long term breakout can be good as well. Until the bulls take control, the trend will continue and break-out.
What Is 0x?
Put simply, 0x is a decentralized exchange that allows users to trade different types of Ethereum-based tokens directly. Decentralized exchanges are getting a lot of attention these days, mainly because they avoid a single point of failure.
In contrast, centralized exchanges, like Coinbase, Kraken, and ShapeShift, carry the risk of theft because they require users to put their money in the hands of a third party.
Two of the most notable virtually currency heists occurred at Mt Gox in 2014 and Bitfinex in 2016, resulting in losses of $460 million and $72 million, respectively. ShapeShift was also the victim of a string of thefts in 2016, resulting in $230,000 in losses.
So, the whole idea of a decentralized exchange is to ensure trades happen on the blockchain, where funds are more secure.
To explain further, 0x works something like this: A “maker” broadcasts his or her order. A "relayer" then posts that order in an off-chain order book and a counterparty (called a “taker”) accepts the order by pushing the transaction into the project’s DEX smart contract.