Blockchain is a general concept of a decentralized ledger for which a consensus about the right status of the ledger is achieved in spite of the fact that many participants are involved in validating the ledger. 
Yes they are in Switzerland and many other countries. There are several places in the world that completely ban the use of cryptocurrency and most countries are still in the very early stages of developing regulations. Please inform yourself about your individual situation because SCX does not provide, under any circumstances, legal advice or investment advice.

Although cryptocurrencies have seen substantial success in their first decade, there is no guarantee that this success will continue. Many institutions have reservations about investing time and money into an intangible currency with a volatile future.
A dApp is a decentralized application. A feature of a dApp is that the actual application is on the blockchain. A webpage or a mobile app can be a dApp.

A decentralized exchange is a trading market place which does not require an intermediary third party for the execution of trades and the custody of its customers’ assets. Instead, the users of a decentralized exchange trade via smart contracts directly with each other in a peer-to-peer manner. Since all transactions are directly processed by the underlying blockchain, the buy and sell side are required to pay a network fee for the execution of each transaction – this fee is generally referred to as GAS and is paid to the miners of the Ethereum network. Further, all buy- and sell-side orders of a decentralized exchange are anonymously displayed in a public ledger for all market participants to see. Currently, the use of decentralized exchanges via smart contracts is limited to tokens which are based on the same blockchain such as Ethereum, which uses the smart contract standard “ERC20” – this is also the standard which SCX uses.

A centralized exchange is a trading market place which allows customers to buy and sell cryptocurrencies such as Bitcoin and Ether (Cash-to-Crypto and Crypto-to-Cash), as well as trading cryptocurrencies against tokens and each other (Crypto-to-Crypto, Token-to-Crypto, Crypto-to-Token). In a centralized exchange there is a third party – the provider of the exchange – which acts as an intermediary and counterparty for all customers’ buy and sell orders. Most of the transaction fees are therefore defined by the exchange provider which usually nets all transactions off-chain and does not execute all trades via the blockchain. This is also the reason why centralized exchanges enable the efficient trading of tokens and cryptos of different blockchains.

Cryptocurrencies or which are based on a native blockchain protocol (for example Bitcoin (BTC) - the native cryptocurrency of the Bitcoin blockchain) are referred to as «Cryptos». They are designed as a means of payment and their purpose is to constitute a monetary unit, store of value and medium of exchange. The fees which occur when transacting cryptos are paid directly to the miners of the decentralized network which use a public consensus mechanism to confirm the state of transactions within the network and towards all network participants.

Certain Cryptos contain additional features and their purpose lies beyond a mere medium of exchange. For example, the Ethereum Blockchain which has the native currency Ether (ETH) also enables the creation of smart contracts. These smart contracts can be used to create Tokens on top of the Ethereum Blockchain, which can act as a unit of value, exchange, payment or to access a service within a certain use case or area of application. The fees for token transaction are therefore paid in the native currency of the underlying blockchain, respectively, in form of GAS in the case of the Ethereum Blockchain. As an analogous example we can use Starbuck’s coupons (= «Tokens») which can only be used within the Starbuck’s network but are denominated in USD or CHF. In contrast to Starbuck’s coupons, tokens provide a broader area of application since they can give token holders a variety of rights. For example, there are tokens that give their owners the rights to participate in revenues, access certain services and receive price reductions, receive payouts for the provision of digital resources, exert voting rights or the entitlement to hard assets such as precious metals.

Disclaimer: - Cryptocurrency trading carries a significant financial risk and can result in the total loss of the invested capital. does not constitute investment advice or recommendation. The website content is solely for the information of the readers. The statements made here are only our own opinion and not a Buy recommendation. Please also do your own research before investing in cryptocurrencies. We assume no liability for any kind of damage. Please also read our disclaimer in the imprint.
GAS is a measurement unit for the computational work which is required to execute transactions or smart contracts within the Ethereum network. GAS can be compared to Kilowatts (kW) which describes the amount of power used by a household, which is not calculated in USD or CHF but in Kilowatt hours (kWh). Smart contracts are executed by miners which invest their time, electricity and computational hardware. GAS is therefore the fee that is paid to miners for the execution of transactions, respectively, smart contracts. GAS prices can vary depending on the nature of the transaction. For example, if many market participants want to use the same smart contract at the same time to participate in an initial coin offering (ICO) to acquire the issuer’s ERC20 tokens, some of these participants are usually willing to pay more GAS than others. This causes their transactions to be higher prioritized by miners and therefore to be executed faster than others. Generally speaking, the more GAS one is willing to pay for a transaction, the faster it will go through.

GAS LIMIT describes the maximum amount of GAS which a market participant is willing to pay to execute a specific transaction. A simple ETH transfer from one person to another has a GAS LIMIT of 21’000 GAS. However, if the transaction involves a smart contract with more complex code that requires miners to allocate more computational power to execute it, it will have a higher GAS LIMIT.
Decentralized exchanges based on Blockchain technology do not have a geographical location, but operate through a distributed network provided by the participants in the stock exchange. Transaction data is stored on the decentralized Blockchain and are thus safe from external access by authorities or hackers.
Each participant manages his wallet on his own responsibility and privately. Loss of stored currencies is only possible if private access to the account is lost or stolen. However, only the account owner is responsible for the protection of this access. This is more expensive and slower than the traditional client-server model, but has several advantages: on centralized servers, attackers can manipulate data. However, the decentralized concept of Blockchain permanently checks the integrity of the entire database. Thus, decentralized apps are fault-tolerant, unchangeable and suffer no connection breaks.
The public key deposited by the user is the necessary precondition for participation in the token exchange. The token exchange only allows whitelisted public keys assigned to the user during the KYC.

The deposited public key is also a prerequisite for the correct allocation of payments in the broker service. Using the token exchange does not require additional verification. You can use both platforms with a log-in.
Please contact your local tax authorities. SCX doesn´t provide any legal or investment advise.  
MetaMask is a browser plugin that allows users to execute Ethereum dApps through regular website browers. The SCX token exchange is a dApp. A plugin like MetaMast offers the advantage that you do not have to put in your private key for transactions. 

With the current legislation, we are also required to know whether the customer is a Politically Exposed Person (PEP). A Politically Exposed Person is an individual who is or has been entrusted in the past twelve months with a prominent public function. Family members and close business associates of PEPs are also considered PEPs themselves. Examples of Politically exposed positions are:

  • (a) Head of State, Head of Government, Minister, Deputy or Deputy Minister;
  • (b) a Member of Parliament;
  • (c) a member of the governing bodies of political parties;
  • (d) a member of the Supreme Courts, the Constitutional Court or any other similar judicial body whose decisions may not, except in exceptional cases, be appealed;
  • (e) a member of the Supreme Audit Institution of the Court of Auditors and the State Audit Office;
  • (f) a member of the Governing Board of the Central Bank;
  • (g) an ambassador or trustee;
  • (h) a military officer in the Armed Forces;
  • (i) a member of the administrative, management and supervisory body of a wholly-owned enterprise; or
  • (j) a Director, deputy director and board member of international organizations.
SCX is a fully digital service. We ask our customers to provide the personal and business identification documentation necessary for identification and verification. Besides personal details of the customer, we must also gather sufficient information on the customer’s business activities, financial position, banking practices and purposes for which the services are being used. Any information or documentation that we receive is treated in compliance with the legal guidelines.