By Nermeen Nabil Khear 
CoinEx is one of the best exchanges you haven’t heard of. They trade in many coins, including lots of memecoins that are getting popular now in a way few exchanges support them. In particular, The Kaspa community loves CoinEx’s programs and giveaways around KRC-20 coins.
CoinEx has a great new program going on right now too. It’s called Pre-Token Trading, and it’s piggybacking one of the fastest-growing trends in crypto. So let’s check it out.
Intro to Pre-Token Trading
Polymarket’s ease-of-use and product-market fit due to the US Presidential election coming up later this week mean one thing. People are interested in prediction markets like never before.
Many of you may not remember, but Augur was the first prediction market starting in 2017 or 18, Its 2 founders went on to co-found 2 VCs, one of which was Joey Krug. He was with Pantera Capital and now is with the Founders Fund. Just shows you how early some smart people have been looking at this topic.
But Polymarket really made prediction markets explode. That and what looks to be a VERY close Presidential election in the US. What we have not seen, so far, is any centralized exchanges try to take advantage of this trend. Until now.
Introducing Pre-Token Trading on CoinEx
Here’s how Pre-Token trading works on CoinEx.
- The first Pre token is Pre_TRUMP. It came on the market last week on Oct 25th.
- You are putting up your USDT on Trump winning the election with this token. And by thinking this, you are doing a mint by converting your USDT into Pre_TRUMP.
As this explanation says, the price of the token is a reflection of Trump’s probability of winning as said by the market. So if the market is saying there is a 55% chance that Trump will win, then the price of Pre_Trump will be 0.55 USDT.
As with other prediction markets, the price will go to 1 or 0 based on whether Trump wins or loses.
The US Presidential Election is just around the corner on Nov 5! Who will it be:
Trump or
Kamala?
Leverage your guess with our Pre-Token Trading & make your predictions count!
Trade #PRE_TRUMP on CoinEx
:https://t.co/PaRVPliWRQ pic.twitter.com/zpvb5Q5fjX
— CoinEx Global (@coinexcom) November 4, 2024
Other than the minting part, this is no different from going into the Spot Market and buying a token. You use the Spot Market to mint your token, and you can then also trade it like any other token. That is, as long as someone else wants to buy it.
CEX vs DEX
Although we prefer using DEXes instead of centralized exchanges for nearly everything, this is a great example of the power of a CEX. The biggest CEXes have huge liquidity numbers. They have volumes that DEXes can only dream about.
It also means there is a much better chance that a market maker will take the other side in the secondary market. This lets you close out your position before Election Day if you choose to pocket your gains or take your losses.
And CoinEx tries to maintain the best of both CEX and DEX offerings by using AMMs to keep the pre-tokens liquid. And anyone can be a market maker in these tokens, including individuals. You don’t have to be DWF or Jump Trading to make a market here.
Plus, CoinEx offers trading fee discounts on the launch of new pre-tokens. This is a great and thoughtful design by the CoinEx team to keep some of the DEX spirit in a CEX offering. Here are what some people are saying about CoinEx and its programs.
Source: Trustpilot
The CoinEx Pre-Token Market
Right now, there are only 2 pre token markets. One is Pre_Trump as I already mentioned. The other is if T1 wins the 2024 League of Legends World Championship. A little over $29,000 is staked on this pre-token. Odds are in T1’s favor today at 63% so people are thinking it will be a T1 team victory.
Who’s gonna be the champion?
Try our limited-time LOL FINAL skin, send a C-BOX to your frens, & leverage your strategy with our 2nd Pre-Token, #PRE_T1WIN.
pic.twitter.com/DuEX2dNxSP
— CoinEx Global (@coinexcom) October 31, 2024
Pre_Trump is a little bigger market. There is already over $160,000 at stake. And people strongly believe Trump will win. The number here is 70% $22,000 of that is in just the last 24 hours. And I would be shocked if the daily numbers didn’t go up between now and November 5th.
Note how it says you can mint or trade. All once you log into your account. Here’s a link with some great discounts to help seed your new CoinEx account. Just sign up through this link to try a pre-token or one of the hundreds of other tokens available.
Conclusion
And CoinEx has other cool things going on, whether you want to try their prediction markets or not. One thing is they have their own exchange token $CET. It’s trading around 10c and up over 225% in the last 12 months.
And as I said, they trade in hundreds of coins and over 1200 trading pairs. They are the first major CEX to offer liquidity to Kaspa’s growing KRC-20 token standard. This includes the growing interest in KRC-20 memecoins.
CoinEx also makes markets in many of the biggest memecoins. Of the top 7 coins that trade on CoinEx, 3 of them are memecoins with DOGE, Shiba Inu, and BabyDoge. They are trading millions of value with excellent liquidity daily. So if the memes are your thing then CoinEx is a good market for you.
If you want to try CoinEx’s memecoin markets or pre-token markets, then all you need to do is click this link to get started. We kickstart things for you with $100 to seed your account from a couple quick tasks. Give CoinEx a try today and see why we say it’s the best exchange you’ve never heard of.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by CoinEx.
Copyright Altcoin Buzz Pte Ltd.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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