NXT Asset Exchange
Trade anything, with anyone.
No intermediaries. No commission fees. No delays.
Rather than simply being a digital currency, NXT was designed to be the foundation of a new digital economy. The Asset Exchange is a powerful and versatile platform that eliminates the barriers to enterprise both over the web and in the real world.
The idea behind NXT’s Asset Exchange is simple, but it has the potential to revolutionise the way we do business. The Asset Exchange allows merchants and customers to buy and sell directly and securely with each other, cutting out the intermediaries who typically bring additional cost, risk and inconvenience as the price of providing the service their users need.
For the first time, free trade is just that: free. NXT gives you access to a truly free, truly global market.
How it works: Merchants create digital tokens for real or virtual assets. These are exchanged with buyers for payment using NXT’s blockchain: the secure and trustworthy record of every transaction that has ever occurred, maintained by tens of thousands of computers around the world. The tokens can then be redeemed by their new owners for the assets purchased – whether this involves using a code to download a music track, transferring cryptocurrencies to the recipient’s account, or merely proving ownership of a stock or commodity. In the case of a physical product, they are cashed in with a merchant in exactly the same way that you would buy goods from any online store.
The Asset Exchange thereby provides a bridge between the virtual and physical world, allowing you to take direct possession of digital goods and prove ownership of physical ones.
You can use the Asset Exchange to buy and sell digital and physical assets of all kinds. Software, music, ebooks. Stocks, property, commodities. Domain names and hosting, design services, smart contracts. You can use it to trade other cryptocurrencies such as Bitcoin, Litecoin and Dogecoin, since the platform is capable of acting as a decentralised currency exchange. The possibilities are limitless.
In the case of physical goods – whether that means electronics, flowers, clothes or even bullion – you can have them delivered by mail or arrange collection in person from the merchant, if you prefer.
Anyone can use the Asset Exchange to buy and sell goods and services. Because NXT is as global as the internet, it doesn’t matter where you are. Trading with someone on the other side of the world is as easy as trading with someone next door. If you want to, you can buy securities issued by a company on a different continent – without the complications that normally entails. You can even issue shares for your own company and pay dividends to your shareholders, regardless of where they live. NXT enables genuinely borderless trade.
NXT’s network means you no longer have to rely on a central authority to carry out transactions on your behalf. There are no banks, no payment processing companies, and no corporations to oversee the exchange: buyers and sellers deal with each other direct. This has enormous advantages in terms of security and reliability. Trading cryptocurrencies does not have to require trust in centralised exchanges that can disappear, taking your balance with them. There is no longer a single point of failure. And there is no organisation or individual to intervene or prevent a trade from taking place, maliciously or through incompetence or accident.
No commission fees
Sites that match buyers and sellers generally charge a substantial commission for providing their services. At least a few percent of the sale price is normal, and stores that sell apps and digital products may take as much as a third or more. Users also have to pay credit card processing fees or charges from their payment provider. NXT’s Asset Exchange avoids these costs by allowing buyers and sellers to deal directly with each other – with no increased risk.
NXT was designed with high trading volumes, convenience and usability in mind. Built on NXT’s blockchain, the Asset Exchange features fast transaction processing, allowing near real-time trading. Not only that, but dealing direct means that you no longer have to wait for the intermediary to register and process the transaction, collect payment and notify the vendor.