RocketX Exchange is the latest cryptocurrency hybrid DEX aggregator to enter the ever-evolving world of blockchain technology and digital assets.
With so many exchanges popping up all the time, it can be hard to keep track of who is offering what services.
What sets RocketX apart from traditional CEX or DEX is that it bills itself as a “hybrid aggregator exchange”
This means that they work like a market square where all the suppliers (liquidity from other markets and exchanges) and buyers (individuals looking to buy/sell/swap lesser-known crypto assets) come together.
The crypto industry is rife with scams so it is imperative to:
- Do due diligence by researching and getting independent reviews,
- self-custody, and lastly
- SELF-CUSTODY (no this is not a mistake, it emphasizes the importance of self-custody because as they say: “Not your keys, Not your coins”)
In this review, I will dig a little deeper into the platform with the goal of giving you all the information you need to make an informed decision on whether you should risk your money with them.
Table of contents
{source & copyright: www.rocketx.exchange}
5 Advantages of RocketX Exchange over Centralized and Decentralized Exchanges
1. Increased Liquidity
Liquidity is basically how easily you can buy or sell an asset. In the unregulated world of cryptocurrency exchanges, it’s all about how much of a specific asset you can trade at a stable price on the platform – safely.
RocketX Exchange provides the perfect solution to liquidity challenges experienced by exchanges. By bringing together liquidity from different sources, users can access larger and more varied pools, allowing for swift and cost-efficient cross-chain swaps using the built-in bridge.
2. Improved Price Discovery
Price discovery is basically how the market figures out the real value of stuff, whether it’s something you can hold or not. On crypto exchanges, the very action of buying and selling stuff is how they figure out what they are worth.
By aggregating liquidity from diverse decentralised and centralised exchanges, RocketX enhances users’ access to the best prices compared to standalone decentralised exchanges (DEX) or centralised exchanges (CEX).
This ensures users get the best price for their crypto swaps, regardless of the assets being traded.
Additionally, RocketX’s built-in cross-chain bridge enables swift and seamless cross-chain swaps.
Moreover, RocketX’s algorithms continually monitor pricing data across multiple exchanges to identify the most advantageous prices.
Consequently, RocketX empowers users with a competitive edge in price discovery, setting it apart from standalone DEX or CEX platforms.
3. Speed. We all want speed!
Speed in terms of exchange platforms is more accurately referred to as latency.
Latency refers to the time delay between when a user asks a question and when the website responds. Latency is a key factor that determines how fast and efficiently transactions can be executed.
RocketX, a hybrid aggregator, tackles the issue of latency by bringing together multiple decentralized and centralized exchanges on one website.
This means users have access to different exchange options, making trades faster and reducing delays compared to using standalone DEX or CEX platforms.
With advanced technology and optimized infrastructure, RocketX Exchange ensures safe, efficient, and super-fast trading by combining the strengths of DEX and CEX.
4. Enhanced Security on Swaps
Security is all about safeguarding users’ assets and personal information. This is super important to prevent any sort of theft or loss of assets during token swaps.
With rigorous security audits ensuring smart contract integrity, RocketX becomes a trusted choice for secure decentralized cryptocurrency transactions.
Consumer protection is one of the main factors that will drive mass adoption of crypto and having a secure trusted exchange website is the cornerstone of efforts to increase transparency and ultimately mass adoption.
5. Seamless Interoperability
Interoperability is the key to unlocking seamless communication and integration between various systems and technologies.
This is the holy grail for the smooth functioning of diverse blockchains and digital assets.
RocketX understands the value of interoperability and provides solutions that bridge the gaps between various blockchains.
The website enables smooth and hassle-free transfer of digital assets across Bitcoin, Ethereum, Tron, Solana, Cosmos, and over 20 other top blockchains!
RocketX Exchange
Design | UI/UX
Both DEXs and CEXs can have user experience issues that can make it challenging for users to swap tokens smoothly and efficiently.
DEXs are known for their lack of user-friendly interfaces and complicated navigation, making it difficult for inexperienced users to do cross-chain swaps effectively.
With a user-friendly interface and customizable trading options, RocketX Exchange offers an improved user experience that is designed to meet the needs of a wide range of users.
It feels new and fresh and has that “crypto space cat” flavour that we have come to recognise.
This is usually a very subjective area of contention and relies on experience and personal preferences.
I like it.
Many would disagree but the overwhelming majority of users would have no problem with the look and feel, especially navigation a pleasurable experience.
Mobile App
The platform does not seem to offer any dedicated mobile apps, however, this is common for platforms of this kind.
The website however is optimized for mobile and apart from the slightly longer login process, the browser experience is on par letting them take advantage of offering a single UI..
Liquidity
RocketX Exchange claims to be a one-stop solution to global liquidity by simplifying access to tokens from multiple liquidity pools.
I always find this type of marketing to be a ploy for signups. It seems in this case that RocketX Exchange does have the promised cross-chain capabilities.
The only way to definitively prove this is to find out for yourself by placing a trade on RocketX
Fees
As with all platforms, the fees are a minefield. Unfortunately, all this programmability and diversity brings with it a whole host of different fees applied at different stages.
The straightforward answer is that to me the platform seems fair in its fee structure.
Here is a short summary of their fees to give you a better indication.
- No fee for swaps below $5 using DEXs.
- A small fee of 0.1% on certain chains.
- On-chain swaps: minimum fee of $1.
- Cross-chain swaps via DEX: a minimum fee of $2.
- Maximum fee cap of $5 on DEX swaps.
RocketX Exchange offers dynamic fees for better rates through CEX compared to DEX. Fees start at $2, up to 0.4% max fee.
Compare Prices
Of course, you can find better options when you compare prices for specific services but the global liquidity in one website justifies their fees.
It is also important to find the best prices for tokens with the smallest spread, which are a direct result of liquidity levels.
Most advanced hybrid CEX platforms use bots to tighten the spread and draw liquidity from other providers but they suffer from AML regulations that restrict their pool of options which result in some tokens trading at a premium on these venues.
NOTE: You can use the platform for free by HODLing the native $RVF token.
KYC/AML
A big advantage of RocketX Exchange is that are there no KYC/AML requirements for a token to token DEX swaps. You do not even need to register. You can simply connect a wallet and do a crypto swap.
This is great news for those who advocate for simplifying access to crypto markets. Regulation is often touted as a friction point or hurdle.
A trusted single point of access to help drive mass adoption is key to overcoming this.
Personally, I like this a lot.
However, there are many benefits to registering for an account, like affiliate commissions and trading fee discounts.
Furthermore, there are different requirements that apply depending on the type of transaction you are doing.
- Fiat to Crypto KYC is mandatory.
- DEX transactions: No need to worry about KYC, and there’s absolutely no limit on the transaction volume routed via DEX.
- CEX transactions: As long as your swaps stay within the daily limits, there’s no need for KYC verification.
The $RVF token
The native RocketX Exchange token offers hodlers the ability to swap tokens on a reliable exchange for free. It has various other utilities, for example, Airdrops
Furthermore, they have $RVF token listed on many other exchanges including ByBit, MexC, BitMart and Uniswap to name a few.
Reviews
There are not many in-depth reviews on RocketX Exchange from reputable sites which can be a concern for some.
The TrustPilot reviews are all positive but are mostly around the same period and by reviewers with only 1 or 2 reviews to their name.
This leads me to believe that they are not as genuine as one would hope.
In-App Crypto Swaps
It appears that RocketX Exchange has made in-app crypto swaps their number one focus and main USP.
Enhance Interoperability
They improve the interoperability of leading blockchains by drawing liquidity from DEX aggregator platforms instead of the DEXs directly as well as from advanced hybrid CEX platforms.
RocketX Exchange Review: My Final Thoughts
I like it. There is an exchange website around every corner so it is a very subjective matter. A bit like buying a car.
I would compare it to a BMW X5. Some love them, some hate them but no one can argue that they are good all-rounders.
I see RocketX exchange as just that. A good allrounder that offers global crypto liquidity without the need for multiple accounts.
