ENCRYBIT - How to innovate and simplify the Digital Coin exchange space

If there is a market that exploded with fresh consumers over the last year we can all agree it is in the crypto assets space, though assets have been traded these last many years, the major boom experienced in 2017 brought millions of fresh crypto traders to the market, a few of them with zero information on how a trading exchange works or how to trade any digital asset.

Even worst, this detonation created the chance for new trading exchanges to arrive, most of them in the digital coins division with absurd difficulty and badly user-friendly experience, which just adds on to asset trader’s frustration and several times loss of capital by doing things the incorrect way.

Presently there’re literally hundreds of crypto money exchanges available and so far there’re still concerns to be solved both for the newcomer and experienced traders.

I came diagonally a survey done by ENCRYBIT that I want to have seen sooner in this marketplace, basically, it addressed asset traders wishes, complaints, frustrations, and emotion regarding current crypto coins exchanges offers in general, which given a number of insights that are obviously in tone with my owns.

Let’s analyze the ENCRYBIT survey questions as well as answers provided by over 1100 participants:

Other individual concerns faced by asset traders are as follows:

• Modern asset trading features such as stop-loss not working correctly and missing trailing stop loss feature

• Most asset traders expect USDT pairing costs to go up when BTC is in a down trend, but there’re just a few tokens available in USDT pairing. This is frustrating and limiting for traders.

• The major exchanges don’t support fiat money which means asset traders are forced to buy BTC and ETH from a ‘gateway’ money exchange ahead of transferring it to the crypto asset exchange to deal with. This procedure takes time as-well incurring charges for the transfer.

• Asset Exchanges not capable to keep their fresh account opening facility open each time due to the influx of people. Because of this concern, lots of affluent asset traders were not capable to register at their desired money exchange.

• Due to the absence of liquidity or slow ecosystem execution, sometimes asset orders are not placed on correct time. Supply-demand is low on the trading exchange for a few coins so the digital trader has to wait for the required dealer to arrive on the exchange.

• In highly unstable markets sometimes gainful asset trades have been placed, but due to the trading exchange’s inability to hold high volume asset trades, it has resulted in the day asset trader missing the chance to earn big profits.

• The unwanted shutdown of asset trading platforms, subsequently taking days sometimes to get back in action and that all with no notification from trading exchange support.

Some Other individual responses are:

• Back Forward testing facility
• Alarm feature which sends a notification when the cost of an asset moves past set trigger points.
• Several chart windows for superior trading and strategy structure
• Comparison of different assets to aid improved trading decisions
• Paper trading
• Social asset trading is missing with crypto trading exchanges.
• View every fundamentals and technological info for current and new coins.

ENCRYBIT Platform proposal

With the entire this gathered insights, ENCRYBIT platform proposes to site itself has a reference for all digital traders, if you are asset trader like me, and the bulk of people who took part in this amazing survey, you know there’s remain many of work to be made in order to make simpler the trading procedure for newcomers and, at the identical time, give more well-organized and advanced tools to more skilled traders keeping every operations speedy, safe, proficient and pleasant to use.

ENCRYBIT Resources:

Website: https://encrybit.io/
Whitepaper: https://encrybit.io/pdf/encrybit-wp-v1.pdf
Telegram: https://t.me/encrybit

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