According to CoinMarketCap, there are 444 crypto exchanges around the world. To stand out, therefore, one must create something unique the others can’t match. One of those attempting to achieve this feat is Dsdaq Global. Founded by professionals from different areas of finance, Dsdaq Global intends to change the way people invest in financial markets.
Its standout feature is bridging the gap between crypto and mainstream financial services. It does this by allowing users to use crypto as collateral to invest in other assets, thus allowing crypto enthusiasts a chance to diversify. We checked out Dsdaq Global in detail but here’s a quick summary:
|Mobile app||Yes (Android, iOS)|
|Number of coins||50|
|Other assets||Forex, commodities, indices, stocks, ETFs|
|Customer support||Email (email@example.com), Twitter (@DsdaqCom)|
About Dsdaq Global
Dsdaq is a centralized exchange first launched on 24 December 2019. It is a subsidiary of Spring Field Holding Limited, which is based in the Cayman Islands after being established in September 2019. The Dsdaq platform was created to provide access to global financial services to traders and investors including both crypto and conventional financial assets.
By April 2020 since launch, the exchange already had 50,000 users and offered more than 25 financial instruments. Taking note of the progress, Efftronics Asia and DraperDragon invested $1.5 million in the company. These funds would be used to expand the company’s products and attract more traders.
Today, CoinMarketCap reports nearly $8 million in average daily trading volume proving that indeed the company has been growing at pace. The company also boasts of having millions of users from all over the world, making it worth considering.
On Dsdaq Global, you have access to multiple financial markets including crypto, stocks, ETFs, commodities and indices.
Being a centralized crypto exchange, crypto trading is the main asset provided to traders. This is done on the spot market where you can buy any out of 50 supported coins. They include major coins like BTC and ETH to altcoins like NEO and LINK. Once you have purchased a coin it is stored in your Dsdaq wallet but cannot be transferred to another crypto wallet.
Besides crypto, you can also trade other financial products usually found in conventional financial markets. They include stocks, ETFs, commodities and indices. Altogether they add up to nearly 300 additional assets and you can see the full list here.
However, you should be aware that these are not real assets but offered as derivatives in the form of CFDs. Through this structure, you don’t actually own, say, a stock, but can profit from the price changes arising.
But the really impressive facility is that you don’t even need to deposit cash. All you do is deposit crypto and use it as collateral… an innovative facility. In fact, Bloomberg would later report that this was a milestone for global trading. Add to that, you can still use leverage to further increase your performance as needed.
You can receive between 10 to 100x margin when trading on Dsdaq Global. What this means is you get to purchase up to 100x the value of an asset compared to your capital.
For example, if a stock is trading at $100 and you only have $100 in capital, you would have only bought one share on another brokerage platform. However, a 100x margin means you have access to up to $10,000 in capital from Dsdaq, allowing you to buy 100 shares! Should the stock price rise to $120, your potential profit would be $2,000 since you owned 100 shares. On the other hand, if the share price fell to $90, your total loss would be $1,000.
This is important to note since margin trading is always a double-edged sword. Beginners are thus encouraged to limit the amount of leverage they select. Furthermore, margin trading is only available for other financial products but not on spot crypto trading.
You have 2 main ways of trading on the Dsdaq exchange – desktop and mobile. Both are necessary because it gives you the freedom and flexibility to trade wherever you are. Nevertheless, there are differences you need to know about before you can decide how you prefer to trade.
This is the primary trading method and is accessed from any desktop device. You don’t need to download any additional app but can access the platform from your web browser. The advantage to this is that you can use any computer you get your hands on whether at home, work or even a friend’s house.
At first glance, the platform will appear complex especially to a beginner. That is because the app is packed with plenty of features to help you analyze the markets. For one, the main chart window is provided by TradingView, a popular charting platform with robust features for market analysis.
Additional market information is also provided showing Tier 2 trading data so you can anticipate other traders’ moves. With time any new trader will appreciate these features and find them indispensable so it’s important to be patient and learn to use the platform.
For those who prefer to trade on the go, Dsdaq Global also has mobile apps for both iOS and Android devices. Compared to the desktop platform, trading on mobile is a lot easier as the apps have been streamlined to make the trading experience easier.
That being said, these apps still have the most important features you need for market analysis. Plus, they let you manage your account including account management and transfer of assets in real time.
When installing the app on iOS devices, you may need to add the company signature before it’s allowed, but you can find the complete instructions here.
Trading fees on Dsdaq will depend on the type of asset you’re trading. For spot crypto transactions, a standard 0.10% fee is charged to both takers and makers. Makers are those who enter a specific market price and the order is fulfilled in future. Meanwhile, takers purchase crypto at market price, meaning they take away liquidity. The 0.10% flat fee makes it easy for investors to buy on either method and the fee is in line with the industry standard.
As for other assets, they are charged by spread, which is the difference between the asking and bidding prices. Normally, this ranges between 0.001% and 0.05% and varies depending on the market conditions. For instance, high volatility may push spreads higher and cost more to trade and vice versa. All the same, we found the fees to be average and not excessive.
It is possible to make a deposit using fiat or crypto. For fiat transactions, this can be done using a credit card or bank transfer. Dsdaq supports 37 different currencies and each one has a different limit shown in the table below. Of note is that your fiat deposit will be immediately converted into crypto either in BTC, ETH or USDT because your account cannot be denoted in fiat.
While you can see your balance in fiat, this is only after making a transfer of crypto into a Crypto Collateral Account (CCA). If you hold BTC or ETH, your CCA will be worth 70% of your coin’s market value and 100% if you hold USDT. Other cryptos are currently not supported in a CCA subaccount.
Another way to make a deposit is by direct crypto deposit. This requires that you already have crypto in a different crypto wallet. We have reviewed many crypto wallets and you can choose any from the list. For a complete tutorial on the deposit process, you can follow the procedure here.
Dsdaq global received a lot of credit when it got the backing of Efftronics Asia and Draper Dragon. Both are major VC firms in the Asian region that have backed several other successful projects. This means Dsdaq has been vetted by the experts who judged it was legitimate. The company has also been forthcoming about its structure unlike some other crypto projects that decide on hiding behind anonymity.
What’s troubling, though, is that no one at the company is known except the PR agent Leah Li quoted in this Yahoo! Finance article. Moreover, customer support is not very effective and only provided by email, which is typically slower than phone calls.
Aside from providing the basics, Dsdaq Global has some additional features to benefit users. The main one is the platform token, Origin D (OD). It is an asset on the Ethereum network meant to reward users of the platform. 1 billion OD tokens were created and will be given to Dsdaq traders for free through an airdrop every time you make a trade.
Dsdaq will then buy back the token using 30% of the company profits and burn a portion until only 300 million OD tokens are left. Holders can also use OD in staking on coins the company will create from real assets. For example, Dsdaq could create T Gold derived from real gold and users buy this token using OD and it’s like investing in gold.
Advantages and disadvantages
|Dsdaq pros||Dsdaq cons|
|Variety of financial assets||Average trading fees|
|Additional features and bonuses||Few cryptos listed|
|Desktop and mobile apps|
Is Dsdaq legit?
Yes, it appears to be a legitimate outfit.
Has Dsdaq Global been regulated?
Not as far as we can tell.
How much does Dsdaq charge?
0.10% for spot crypto and between 0.001% and 0.05% on other assets.
How do I contact Dsdaq?
Use the email address firstname.lastname@example.org
Is the Dsdaq exchange available in the US?
It’s not licensed to operate in the US.