Outstanding day to all EDCOINERS!
In 2020, we envisioned “The Future is Now!” for EDCOIN. But unfortunately, it is a case of easier said than done when it comes to being at the forefront of the blockchain & crypto revolution.
We are cognizant that since EDCOIN was launched, the genuine intentions for its adoption, use and success in value-growth were only partially realized.
Along the way, together with you, we experienced challenges in many areas including communication, training and the uphill climb for many of our EDCOINERS when it came to acquiring and trading EDCOIN on the revolutionary decentralized exchange that is Uniswap.
Uniswap is indeed revolutionary but in its nascent form, it is costly for all EDCOINERS to transact on Uniswap. The benefits of decentralization are negated mainly by the downside that every interaction on Uniswap is on the Ethereum network and the Ethereum network has been having constant issues with high fees and congestion.
A swap and subsequent transfer interaction on Uniswap attracts a fee in Gas (in units of Gwei) which can range from about USD1 to as high as USD30 (or more!) per transaction. Whenever the number of transactions on the Ethereum network increases, Gas fees increase significantly and the duration of high fees may sustain for long periods of time. These fees are inconsequential for large transactions but for the majority of EDCOINERS, these fees are terribly costly for small and frequent transactions.
In addition, not only do EDCOINERS need to acquire ETH to transfer EDCOIN out of Uniswap, transferring ETH to Uniswap to pay fees also incurs more fees, resulting in shortfalls in having enough ETH to facilitate transfers of EDCOIN out of Uniswap. It certainly makes things more messy and even more expensive for everyone.
It is clear that continuing with Uniswap is NOT sustainable for all EDCOINERS. At least, not until Ethereum Layer 2 solutions resolve the costs of interacting with Ethereum. We cannot wait for such a solution.
To address the shortcomings which we have all experienced together in interacting on Uniswap, we have decided to list EDCOIN on WhiteBIT to provide a better and seamless experience for our EDCOIN community.
Based on its ease of use, it is likely that our community will transition naturally to WhiteBIT.
What is WhiteBIT?
WhiteBIT is a public centralized exchange which was established in 2018. It has a trading volume in excess of USD500 million per day (approximately 14,751 bitcoin) and it currently lists 99 coins and 211 trading pairs.
Having EDCOIN on WhiteBIT means that EDCOINERS can purchase EDCOIN with USDT quickly and most importantly, affordably. In addition, USDT transfers in and out of WhiteBIT can be done using the Tron TRC-20 network for USDT (a stablecoin for the US dollar) which attracts 0 fees.
As a public exchange, WhiteBIT’s own community of crypto enthusiasts and institutional investors will also have greater visibility of EDCOIN. As we add more value to EDCOIN hodlers, the WhiteBIT community will also acquire EDCOIN and as DEFI accelerates into 2021, EDCOINERS will derive more value from the market.
Instructions and FAQs will be crafted to support all EDCOINERS who wish to transition from Uniswap to WhiteBIT.
EDCOIN will be listed on WhiteBIT (https://whitebit.com/) on 21st January, 2021.
With EDCOIN being on WhiteBIT, we are pleased to move forward with you and proudly proclaim that in 2021, “The FUTURE is HERE!”