How can I sell diamonds on the CEDEX platform?
If you are a diamond supplier click here (guide/link to specific section for resellers).
If you are private diamond holder, click here for a detailed guide on the diamond upload procedure (guide).
Will there be fees within the CEDEX exchange?
CEDEX will charge the following fees for the use of its platform by diamond suppliers, buyers and sellers:
You can find a complete breakdown of all fees on the “How CEDEX Works” page at this link.
What is the CEDEX platform?
CEDEX.com is a global diamond commodity exchange that has engineered a groundbreaking change - enabling people to liquidate and trade in diamonds like any other financial asset class, securely and transparently.
CEDEX focuses on bridging the gap between the traditional diamond industry and innovative financial markets.
CEDEX has created an exchange platform to bring together diamond supply and demand for trading purposes. On the supply side, CEDEX is targeting two main sources: diamond manufacturers and private diamond holders.
On the demand side, there are two main purchaser groups: commodity traders and cryptocurrency holders, but naturally, CEDEX will welcome any and all investors.
Where can I read the CEDEX whitepaper?
The whitepaper is available at the following link.
Who is the team behind CEDEX?
The CEDEX project was founded by a team of professionals in internet, online marketing, financial markets, technologies and of course - the diamonds industry.
TechFinancials Inc. [AIM:TECH] has provided incubation and financing for the CEDEX project by way of a loan, for which the company was granted an option to be the holder of 92% of CEDEX. TechFinancials Inc. is a leading developer of financial trading technologies. Its experienced team of software and technology developers, financial engineers and online marketing experts provide development services for creating the trading technology, alongside the CEDEX team.
Who is considered eligible to trade on CEDEX?
CEDEX allows for investors from across the globe to trade in diamonds. Please note that there are several countries we are unable to accept traders from
- Users from the U.S.A and Israel may register and CEDEX will contact them when regulatory issues in those countries are resolved and they can begin trading.
- Users may invest/trade provided they pass KYC/AML procedures.
How do I create and verify an account on CEDEX.com?
To create an account, go to cedex.com and click on the “Register” button. Fill in the required details and confirm your email address.
To verify your account and be eligible to trade on the exchange, you must complete KYC/AML procedures, which include the following:
- A valid international passport (valid for at least 6 months from the moment you send it to CEDEX)
- A bank statement or utility bill clearly showing your name or address (in English)
- A completed online KYC form
- Private diamond holders and suppliers may be asked to download, sign and return additional documents before they can sell diamonds on the exchange.
All images must be clear and complete, Images that are fuzzy or cut-off will NOT be accepted.
- CEDEX may request further documents. Users will be notified of these requests individually.
What is next for CEDEX? What are your future plans?
Please find our detailed expected milestones and road map outlined below:
Milestone 1 – MVP (Minimum Viable Product) and Launch of CEDEX Platform
The main components of the MVP product
Diamond onboarding from important manufacturers
Customer onboarding platform
Customer account management
Trading arena in which customers can buy and sell smart contracts using CEDEX Coin
Milestone 2 – From Trading Diamonds to Diamond Asset Class
The first milestone will focus on allowing traders to use the system to buy and sell diamonds and diamond digital certificates. The next evolution in making diamonds a commodity is the ability to transform diamonds from a one-of-a-kind asset to a homogeneous asset. CEDEX’s innovative solution combines Blockchain technology and its proprietary algorithm, the DEX, to create a category trading.
Milestone 3 – Financial Offering Expansion and Regulation
As the CEDEX platform evolves, we expect professional traders use the system to and financial institutions using this new financial product to offer their clients exposure to their existing portfolios.
Milestone 4 – Geo Expansion
Expansion into additional geographical locations such as Japan and the U.S.
How can I make a deposit to my account on CEDEX.com?
Your CEDEX.com account will have a wallet capable of storing your CEDEX coins. Your wallet will have a personal, confidential and unique address - to make a deposit you will need to transfer CEDEX coins into it from an outside wallet.
Where can I purchase CEDEX coins?
CEDEX Coins can be purchased from a number of cryptocurrency exchanges such as Idex, Etherdelta, Coinhub and Exrates, with more exchanges to be announced soon.
Are CEDEX Coins ERC20 compliant?
Yes, the CEDEX coin is ERC20 compliant. As such, it can be stored on any Ethereum wallet that supports this protocol.
How do I safely store my coins?
CEDEX coins are ERC20 based and can be stored in any ERC20-compatible wallet. It is highly recommended that you store your CEDEX coins in an offline, cold storage solution.
Please do not leave large crypto holdings on centralized exchanges!
Do not store a backup of your private key in your email, on your desktop, in your Google Drive, etc. The “Ledger Nano S,” for example, is a great hardware wallet solution that supports all ERC20 Ethereum coin types.
The CEDEX team urge you to search for a solution that meets your particular requirements.
How can I use CEDEX coins?
CEDEX coins can be transferred for trading and investment purposes on the exchange. Additional uses for the CEDEX coin on the exchange:
- Purchasing Diamonds as an investment - Traders must buy CEDEX coins to invest in diamonds and diamond derivatives on the CEDEX platform.
- Payment - Payment to and for all services will only be possible using CEDEX coins.
Loans - Traders will be able to use their portfolios as collateral for CEDEX coin loans.
- Additional Fees - Traders will use CEDEX coins to cover collateral/borrowing fees when opening a short position (future option).
Can CEDEX coins be transferred?
Of course! Once you are in possession of CEDEX coins you can buy, sell and transfer them on exchanges, or directly to other wallets.
Which currencies can I use on the CEDEX platform?
At this point in time, it is only possible to invest in diamonds on the CEDEX exchange with our own cryptocurrency - the CEDEX coin.
How can I withdraw my account balance/coins?
If you wish to withdraw your account balance, you can request a withdrawal by clicking the “withdraw” button at any time. Your request will be forwarded to our finance team. They manually approve each withdrawal request after verifying its details.
- Withdrawal requests may take up to 3 work days to process.
On which exchanges is the CEDEX coin officially listed?
You can find the CEDEX coin listed on Idex, Coinhub and Exrates, with additional exchanges to be added in the future.
What diamond categories will CEDEX.com handle and why?
The DEX, our proprietary machine-learning algorithm, which provides a market value for a single stone will initially offer evaluation for four major diamond categories, for clean, round diamonds:
- 3/4 Carat Round - 70 points to 79 points round diamonds
- 1 Carat Round - 1 carat to 1.19 carat round diamonds
- 1.5 Carat Round - 1.5 carat to 1.99 carat round diamonds
Clarity FL,IF, VVS1,VVS2
Diamonds will range in worth from approximately 2,800 USD to 30,000 USD.
CEDEX has chosen to focus on these colors and clarities, as they cover the most popular stones, while offering a great price range.
- 2 Carat Round - 2 carat to 2.49 carat round diamonds
How is buying a diamond on the CEDEX exchange better than buying one elsewhere?
There are multiple key differentiators that set CEDEX apart from online diamond retail stores:
The DEX algorithm evaluates each diamonds ask price vs. its EMP (Estimated Market Price) based on its gemological characteristics and presents sellers with a DEX score and estimated market price. Other retail stores present a diamond’s price with all added costs, which often means that their total cost is considerably higher than its true value.
The price of a diamond at any retail store is fixed and final while on the CEDEX exchange, each diamond seller may set any price for any featured diamond in their inventory. Sellers may submit bids in an attempt to reach a “match” with what the seller is willing to accept as their “final” price.Lastly, CEDEX is viewed mostly as a diamond commodity investing product, where reselling any diamond is possible, easy and encouraged, allowing the use of diamonds as a dynamic financial instrument.
What are the advantages of diamonds as a financial instrument vs. consumer good?
Traditionally, diamonds were always viewed as a classic consumer good/product, in the sense that they were only sold physically, and, in most cases, in one direction - from sellers to buyers, and only for a single use (jewelry). Additionally, people who had diamonds to sell would only have the option of taking them to pawn shops or other such retailers, allowing those places to set the price they’d be willing to pay instead of the seller.
That view ends with CEDEX’s introduction of diamonds as a tradable commodity. CEDEX revolutionizes the diamond industry by turning diamonds into a financial product instrument by allowing diamonds to be bought, resold and used as investment tools, thus, maintaining each diamond’s value, without requiring their owners to hold on to the physical diamonds.
How does CEDEX guarantee that the diamonds traded on the platform are not conflict diamonds?
Every single diamond listed on the exchange is a fully certified and completely legal diamond, regardless of whether it comes from a diamond supplier or a private diamond holder. All Suppliers must license to import & export diamonds. Suppliers are required to follow the Kimberley Process regulations.
What is a DDC (Diamond Digital Certificate)?
A DDC (Diamond Digital Certificate) is an authentic, digitally certified representation of a diamond on the CEDEX exchange, It will hold all information about a diamond, including; owner ID, status, gem composite score, gem subcategory, media, designated custodian information, and arrival time at the custodian’s location. When a diamond is sold on the exchange, the DDC is “transfered” to its new owner as part of the transaction.
After I invest in a diamond, how and where can I resell the diamond?
Once you are the legal owner of a diamond, you can resell it on the CEDEX exchange, by listing the diamond and setting an asking price.
How can I be sure the diamond I purchased is the one being stored by the custodian?
Once you purchase a diamond, you will be able to track its “progress” on your CEDEX.com dashboard - from the supplier until its final destination in the custodian. Each diamond is individually certified by GIA, using a battery of tests to confirm that the diamond in question matches the certificate provided for it. Once certified, the GIA will seal the diamond and it will be picked up by a secure courier for transport to the custodian. As your diamond arrives with the custodian it will be filmed, stored and a storage number will be sent to CEDEX to ensure the accuracy and reliability of the entire process.
Where Is the custodian located?
All diamonds listed on the exchange are stored with secured and credible custodians (Geniva - tax free zone, Hong Kong - bounded area).
How will CEDEX be securing the diamonds?
CEDEX will work with a handful of selected and top rated secure custodians, and only those with stellar reputation and tradition for security will be used for storing your valuable diamonds. Initially CEDEX will work with Malca Amit, a world renowned courier and custodian service, but other names may be added as we expand our services.
Is the CEDEX exchange web-based? What are the recommended browsers?
Yes, the CEDEX exchange is web-based. For the best user experience, use Firefox or Chrome. We will launch a mobile web version of CEDEX around the end of Q2, 2019
Will the CEDEX.com site be available in multiple languages?
Yes, while CEDEX will initially support English, additional languages will be added in the near future.
I need help solving an issue i’m having, where can I get the answer?
Email support at - firstname.lastname@example.org
Or join the CEDEX social community on one of these apps/sites:
What is the DEX?
The DEX is a machine-learning algorithm that provides the one thing missing most from the industry - transparency.
The DEX will combine gemological data for each diamond, various diamond indices and global inventory data, providing each and every diamond on the CEDEX exchange with a rating that will reflect its real market value.
The DEX has been in development for over a year now, with teams of diamond experts, database experts and mathematicians all working to create the most accurate and advanced algorithm possible.
How is CEDEX recolonizing by using Blockchain
CEDEX utilizes Blockchain technology on a number of levels - transporting data, as a payment solution to issue diamond digital certificates.
The Ethereum Blockchain is the basis for the CEDEX payment solution. Blockchain technology is also powering the underlying CEDEX project to create diamond digital certificates. In the first phase, diamond digital certificates will be issued through a simple process that is initiated once a diamond holder or supplier lists a diamond for trade.
The simple interface creates a diamond digital certificate on the CEDEX platform’s backend. This certificate represents a diamond’s gemological data and other information to allow for the creation of a financial product that represents the underlying asset, i.e. diamonds. As the Blockchain technology based CEDEX ecosystem evolves, we anticipate the financial market will adopt diamonds as a new asset class for trading.
Creating diamond digital certificates will benefit the entire ecosystem in many ways:
No additional transportation and insurance will be incurred as long as trading remains within the ecosystem.
Open Blockchain technology allows anyone to collect, aggregate and analyze the data for their own purpose. All diamond digital certificates and transactions, including payments and withdrawals are governed by the Ethereum Blockchain. They happen instantly and CEDEX’s management has no say or hold over this process.
Is CEDEX regulated?
CEDEX has worked to structure its business model carefully, with close legal support by the finest international law firms, as we work towards the application becoming licensed. CEDEX adopts the strictest business standards with respect to various aspects (e.g – AML/KYC requirements as well as others). CEDEX’s prudent approach is driven, inter alia, by the fact that TechFinancials Inc., a publicly traded company on the London Stock Exchange [AIM:TECH].
Where is CEDEX registered
CEDEX TRADING UK LIMITED 11579095 Is registered in the UK.