Topic: anyone try SILEX for trading multiple exchanges / arbitrage? (Read 187 times)

Site still isn't up. I'd still be extremely cautious in terms of crypto arbitrage bots or whatnot.

First of all, this isn't open source and you'd be taking their word for it when they say that everything is going to be secure, they're not going to be tampering with your funds or whatever. Even though they say everything is done locally, there could well be information that is still uploaded to their servers that you don't know of.

Secondly, arbitrage across crypto exchanges is difficult given that in practice, there are various reasons why arbitrage opportunities do exist. For example, deposit and withdrawal issues may form a closed market where prices are artificially deflated or inflated, in which case, you're making a huge risk if you ever want to deposit funds into that exchange just to trade that arbitrageable coin.

At the end of the day, you could trial it with small funds if you'd like, but I doubt that the results will be likely to be good. And if they're promising guaranteed returns, just forget about it - it's a scam.

for developer of this application must be fixed because there is a bug that interferes with the user's comfort in crypto trading,

besides that this application is not yet popular so people might think this application is scam because it has bugs that are annoying or they think this is a phishing application

thx my friend

i tried with 2 separate exchanges --- it works but is very buggy
keeps freezing -- doesn't show everything
some trades don't appear immediately --

i was trying with minimal coins --      until i hear anything else from members the developer -- im no longer going to use 4 safety reasons  --




i will say its a great concept and would be amazing !!! ........

I'm currently getting an error trying to load the page; here's the error below in code format to save space.


As for the legitimacy of the platform itself, I'm personally not sure. I was not able to gather much information on the website itself, and I was only able to find this one review of the platform. Unless someone else posts here on the legitimacy of the platform, I would not use it for trading with any real volume.

seems like incredible tool

just not sure if its    .. safe ??   

or still developed ?

http://silexapp.com



i fooled around with empty accounts ... but wondering if safe to trader with ..  if so ?         gr8 idea


I found this info ??

"Silex is an app that allows users to trade on their favorite exchanges on a single platform and without the need to store their API keys on any central server. This cool app allows traders to aggregate all their exchanges and wallets in one interface. Users do not have to go through the log in 2/FA steps to access their crypto exchanges.

The app makes API calls directly to the exchanges without the need to go through a centralized server. Security of the API keys is guaranteed since users do not have to upload their API keys to 3rd party servers. The keys are encrypted on the user’s hard drive such that there is no need to log in for this app, all a user needs is a pin code.

Users also are able to transparently access their crypto exchanges. The visually appealing dashboard allows traders to view all the major exchanges in one trading platform. Using only one integrated terminal users can monitor, trade, and invest in virtual coins. The app also helps users review their balances on a single table and transfer currencies from one exchange to another.

Users do not need to copy and paste the addresses as the app does all this. This is a convenient solution that saves traders time. It is ideal for those who do not want to make mistakes while trying to log in to all the supported exchanges. Currently, the app supports some of the major exchanges including Binance, Gdax, Bittrex, Gemini, Kraken, and BitsStamp among many others.

How The PIN Code Encryption Works On Silex App

The Silex app gives full control to the traders so that their funds are never accessed directly by third parties. The API keys are encrypted on the trader’s laptop such that a user only need a PIN code to access the exchanges. The PIN code provides enhanced security to user’s funds. Even if someone steals their laptop, they will not gain access to the trader’s funds.

The PIN code is sent to the Silex server and hashed with SALT. The hash is checked against a hash stored in the database. In case the hash is a wrong one then the retry count is decreased. In case the user enters 5 wrong pins the account is cancelled. The system does not offer a pin reset process.

In case the entry is correct, the hash is sent back to the client and used as an encryption key for the storage of account information. Thus, the attacker will have to attack the database and hack the laptop to gain access to the funds. This solution guarantees security to the user’s funds."