DAX - Digital Asset Exchange - What is this about?

What is DAX or Digital Asset Exchange?

Do you know what is DAX - Digital Asset Exchange?

DAX basically is an exchange to facilitate the trading of digital coins and tokens such as bitcoin and ethereum.

It is a market for you to trade cryptocurrency.

By the way, do you know what is bitcoin vs blockchain?

Watch below's video:

What's the difference between bitcoin and ethereum?
It is a question most commonly asked, and many are divided of the pro and cons.

Below is a quick introduction for the difference.

Who are the approved DAX operators?
According to SC website, there are so far 3 approved market operators for now (1 Feb 2020) for DAX:

No.	Name	Address
1	Luno Malaysia Sdn. Bhd.	Unit 3.3, 3rd Floor, Surian Tower, No.1, Jalan PJU 7/3, Mutiara Damansara, 47810, Petaling Jaya, Selangor Darul Ehsan
2	SINEGY Technologies (M) Sdn. Bhd.	18-32-D Gurney Drive (Gurney Tower) 10250 Georgetown Pulau Pinang
3	Tokenize Technology (M) Sdn. Bhd.	Q Sentral, Unit 39-02 (East Wing), 2A, Jalan Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia

So far, it seems that only Luno has done the most marketing over the others.
Looking at the Facebook followers, we can see a huge difference.

The Facebook Followers:

Luno: 78K

SINEGY: 413

Tokenize: 105

Note that during March of 2019, there were at least 43 DAX available.
But most of them already ceased operation, as they failed to submit their applications to SC.
So basically now only left 3.So be very careful if you encounter some new operators. Always check at the SC website for the most updated info.

For those of you that want to know more about digital assets, SC has actually quite a comprehensive information about it here:

https://www.sc.com.my/development/digital/digitalassets

What are the terms in DAX?

I'm sure they are many jargons that you may not be familiar with.
Here is some definition for your reference:

Terms	Descriptions	Source
cryptocurrency	a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.	Investopedia
blockchain	a distributed ledger enforced by a disparate network of computers	Investopedia
bitcoin	a type of cryptocurrency or digital asset	Investopedia
ethereum	a type of cryptocurrency or digital asset	Investopedia
digital assets	digital assets refers collectively to a digital currency and digital token;	SC
IEO	means offering of digital tokens by an issuer through an electronic platform	SC
IEO operator	means an electronic platform operator which is registered under these guidelines to operate an IEO platform	SC
issuer	means a company seeking to raise fund through offering of digital tokens	SC

What about Luno?

So far Luno has more than 2.5 million customers all around the world of 40 countries.
The HQ is in London.
The customer in Malaysia seems to be growing.

Since this is approved by SC, can consider quite safe to open your account in Luno.

The Luno website provides the step from opening account to start trading.

They also have an App store for it.



Should I invest in Cryptocurrency?

In my opinion, cryptocurrency is too volatile to be considered as an investment.

I would say this is more for trading purposes.

Therefore, understanding technical analysis is the key to trade cryptocurrency.
Otherwise, you shouldn't start.


You can see the changes in the prices for the past few years.

Do not trade something that you do not have skills and knowledge with.

Also, do not risk more than 5% of your total capital in cryptocurrency.

Always diversify.


Important Note:
Trading in cryptocurrencies is highly risky and may not be suitable for most traders.


Luno Partner with Shopee

As this week, we got a news that you can actually but some Luno voucher where you can get extra bitcoin in your Luno account.

https://shopee.com.my/RM-15-Bitcoin-Voucher-New-Customer-Only-(T-Cs-apply)-i.201819404.7808927406



Reference:
SC also offers a guidelines about digital assets:
https://www.sc.com.my/resources/media-releases-and-announcements/sc-publishes-guidelines-on-digital-assets?fbclid=IwAR3hwYtGTn-JqDiii-VR8n0wXugh5DztEzQjhOHS-jITgaVGqkutz7n-Dhk
https://www.theedgemarkets.com/article/half-digital-asset-exchanges-malaysia-cease-operations
http://www.enterpriseitnews.com.my/luno-is-3rd-legal-digital-asset-exchange-in-malaysia/
https://www.investopedia.com/terms/b/bitcoin.asp
https://www.investopedia.com/tech/all-about-ethereum/
https://www.investopedia.com/terms/c/cryptocurrency.asp
https://www.investopedia.com/terms/b/blockchain.asp
https://www.theedgemarkets.com/article/luno-partners-shopee-offer-cryptocurrencies-ecommerce-platform



Happy Investing! 😉