The Klever wallet has recently been making tidal waves in the cryptocurrency community. With the upcoming, highly-anticipated release date of Klever Exchange, we wanted to provide a comprehensive Klever Exchange review. Our team scoured the Klever.io whitepaper to bring you this comprehensive overview! Quite honestly, we havenโt been this excited about a new exchange in a while based on their industry-leading technology.
This Klever Exchange review will cover the following topics:
Overview of Klever Exchange
Klever is catering towards new cryptocurrency investors with the release of their exchange platform. Klever promises a reliable and easy-to-use platform that also offers low fees and incredible speed. The exchange has been in development for over 3 years, and their global team consists of over 100 developers, engineers, and staff. The CEO and Co-founder of Klever is Dio Ianakiara.
Klever Exchange boasts a transaction time of 3+ million transactions per second. This is a huge benefit, especially to traders who know that transaction speed can be the cause of many headaches! The exchange will work similarly to Binance and the BNB coin, in that Kleverโs KLV token will be a central part of the exchange and trading platform. Klever blockchain will be released later in 2021.
Core Principles of Klever Exchange
Kleverโs vast development team has been guided by four principles while building the platform. These principles are:
- Security โ The team is dedicated to providing advanced security measures to protect Klever users against external attacks.
- UX โ The user experience is an essential aspect in order to make Klever accessible to even the most newbie traders. Speed is also a huge factor in providing an enjoyable experience.
- Reliability โ The development team has implemented autonomous order books that will function independently. The order books will ensure the 3 million transactions per second, per order book.
- Compliance โ If an exchange is to survive, it must be compliant. Klever Exchange is dedicated to being compliant in all legal jurisdictions.
Klever Exchange Architecture
Klever Exchange is built on a Microservices Architecture. This allows each area of the exchange infrastructure to operate independently with its own set of responsibilities and roles. Having the exchange developed in this manner will enable it to be incorruptible, autonomous, reliable, scalable, and more secure. We expect the Klever Exchange to be able to handle high market trading volume and high amounts of market volatility while still operating smoothly!
The Klever Exchange architecture is built on five pillars.
Klever Autonomous Orderbook
This Klever Exchange review wouldnโt be complete without talking about the autonomous orderbook. Klever is being built to handle over 3 million transactions per second through its autonomous order book. If youโre a tech nerd, youโll appreciate this. The current industry standard for exchanges is to support up to 1 million transactions per second. Knowing this industry-standard means Klever aims to be 3x faster than some of the leading exchanges.
The autonomous order book will manage each key pair. This means that the 3 million transactions per second will be attributed to each keypair, not Klever as a whole. During times of high volatility and high trading volume, this increase in trade execution speed will be a huge benefit for users.
Will Kleverโs Architecture Allow Bots?
Klever has designed its exchange architecture to be compatible with API kets that will allow users to trade using bots and run their own strategies. Cryptocurrency traders will be able to utilize bots such as Cryptotrader, Cryptohopper, and others to automate their trades.
Klever Exchange Market Maker Program
One of the biggest questions in the cryptocurrency community has been around Kleverโs market maker program. The program will consist of a rebate on each maker order. Klever will distribute these rewards in real-time to makers after each trade. Klever offers a tiered structure like many other cryptocurrency exchanges.
The fees of Klever Exchange are listed below:
| VIP Level | Trading Volume (30 Days) | Min KLV Holding (30 Days) | Maker | Taker | KLV Pay Fees (Maker) | KLV Pay Fees (Taker) |
| Regular | โ | โ | 0.110% | 0.110% | 0.090% | 0.090% |
| VIP 0 | <$10,000 USDT | <$10,000 USDT | 0.100% | 0.100% | 0.080% | 0.080% |
| VIP 1 | โฅ$10,000 USDT | โฅ$10,000 USDT | 0.090% | 0.100% | 0.072% | 0.080% |
| VIP 2 | โฅ$20,000 USDT | โฅ$20,000 USDT | 0.070% | 0.090% | 0.056% | 0.072% |
| VIP 3 | โฅ$50,000 USDT | โฅ$50,000 USDT | 0.050% | 0.080% | 0.040% | 0.064% |
| VIP 4 | โฅ$100,000 USDT | โฅ$100,000 USDT | 0.030% | 0.070% | 0.024% | 0.056% |
| VIP 5 | โฅ$200,000 USDT | โฅ$200,000 USDT | 0.000% | 0.070% | 0.000% | 0.056% |
| VIP 6 | โฅ$500,000 USDT | โฅ$500,000 USDT | 0.000% | 0.060% | 0.000% | 0.048% |
| VIP 7 | โฅ$1M USDT | โฅ$1M USDT | 0.000% | 0.050% | 0.000% | 0.040% |
| VIP 8 | โฅ$1.5M USDT | โฅ$1.5M USDT | -0.005% | 0.045% | -0.005% | 0.036% |
| VIP 9 | โฅ$3M USDT | โฅ$3M USDT | -0.005% | 0.040% | -0.005% | 0.032% |
| VIP 10 | โฅ$5M USDT | โฅ$5M USDT | -0.005% | 0.035% | -0.005% | 0.028% |
Exchange Security
The security of Klever Exchange is touted to be some of the best in the industry, based on banking technology, HSM. HSM is a Hardware Security Module that is used by financial services and banks worldwide. The security module will be software-based and provide an architecture that is interoperable with various components. Klever is quoted saying that this security will be โbulletproofโ against nefarious actors and will be the โnew eraโ in cryptocurrency exchange security.
Compliance
Klever Exchange is committed to compliance โ as it should be. Cryptocurrency exchanges have recently come into the spotlight as tightened compliance around cryptocurrency has risen. Klever is partnering with Jumio, an AI biometric identity solution, as their compliance partner. The solution will allow Klever to stay KYC and AML compliant in all operational countries.
The Klever compliance solution will support over 200 countries to help ensure the scalability of the Klever Exchange over time. The solution claims to be fast, secure and take only a few minutes to become verified.
Klever Customer Support
The Klever customer support is one area where we are skeptical. Many popular exchanges have recently been under fire for their poor customer support and slowness in fielding support tickets. The Klever Support Team will consist of 30 customer support agents that will assist customers worldwide. In our opinion, we donโt think this will be nearly enough, but we are optimistic about seeing this team grow as the platform grows. The customer support team will be available 24 hours a day, 7 days a week.
Klever Help Center
The Klever Help Center will provide support operations for Klever users. This will include a knowledge-base with popular FAQs, as well as a live chat feature. We recommend users keep a close eye on the support area, as this can become a โmake it or break itโ feature for any exchange.
Coin Listing Process
Are you looking forward to seeing a particular coin on Klever Exchange? Klever has a three-step process that will allow coins to be listed on their exchange platform.
Step 1: Basic information will be submitted about the project and the token.
Step 2: Listing information will be submitted. This included trading pair info, marketing package options, market making account, the release date of the token, and signing a listing agreement
Step 3: Payment for listing
Tokens will be accepted or rejected based on the project.
Klever Token (KLV)
Perhaps one of the most exciting features of the Klever Exchange is the usage of Klever Token (KLV). KLV be used as one of the main trading pairs on the Klever Exchange. This means that all coins on Klever will have a direct trading pair to and from KLV.
Klever Exchange will use KLV as its main fee-generator. Trading fees, exchange fees, swap fees, and withdrawal fees will be paid with KLV. KLV will also be used so market makers can add liquidity to liquidity pools, and users can participate in KLV mining pools and KLV staking.
Conclusion
We hope you enjoyed this Klever Exchange review. Weโre incredibly excited to try out the new Klever Exchange. With itโs incredibly fast trade times, security measures, and best-in-class UX, Klever is positioned to be a top contender in the cryptocurrency exchange space. With any new exchange release, there will be road bumps along the way as the team irons out any bugs. We advise that investors and traders should be cautiously optimistic about this exchange as it establishes itself in the space and brings on new users.
