It is estimated that over 50,000,000 (50 million) people worldwide are involved in Cryptocurrencies and they are either traders, holders or just Crypto Enthusiasts. There was explosive growth especially in 2017 when several cryptocurrency exchanges had to temporarily pause registration of new users.
It is not just about the growth in number of digital coins, tokens and users, the market value of Cryptocurrencies has also expended, from it's beginning when it had no value, it has now gotten to a stage where digital currencies now has a combined marketcap of over $122,000,000,000.
But with the growth and developments so seen so far in Cryptocurrencies, have you wondered how people obtain Cryptocurrencies or exchange them from one type of Cryptocurrency to another? The Answer to this question is CRYPTOCURRENCY EXCHANGES.
At last count, there are hundreds of Exchanges in existence and as an accomplished trader who has traded in over 40 different exchanges and has made over 1000 transactions since December of 2017, I can boldly say that I have seen every kind of exchange there is but recently, I stumbled on a very unique Cryptocurrency exchange that aims to do what Blockchain fundamentally aims to achieve.. A fair and transparent financial society.
I want to do a SWOT Analysis of the Probit Exchange now, I have previously written about the fundamentals of this project earlier today, incase you missed it and want to learn more about Probit and what it stands for, read my previous article HERE.
The SWOT Analysis Of PROBIT
For those who do not know, SWOT simply means..
• Strengths
• Weaknesses
• Opportunities
• Threats
✓ STRENGTHS OF PROBIT: The Strengths of Probit in it's unique features, it is a project that is focused on the fundamentals of Blockchain technology which is to create a fair and transparent financial society, how does Probit aim to achieve this? To help you better understand these revolutionary features, let me explain them a bit below before we proceed.
Features
1). Security: The Security of funds and users in the Probit platform is the top priority of the Probit Team, because of the Billions of transactions that passes through exchanges in a daily basis, they have been serially targeted by hackers in recent years, I remember the 2014 incident involving the Premier cryptocurrency exchange named MT.GOX in which 740,000 was carried away by hackers, up till date this remains the biggest cryptocurrency heist that has been carried out in a Cryptocurrency exchange, this loot is worth $4.4 billion dollars at present rate of Bitcoin.
Unfortunately this isn't an isolated incident, there has been other incidents as where exchanges were hacked and users funds carted away, this is why the Probit Team made sure they used multi-layer firewalls, multi-signature, and cold hot money bag isolation programs to maximize the security of user assets. Additionally, they are working closely with top security Outfits to ensure the security of asset is guaranteed in the Probit Exchange Platform.
2). World Class Transaction Framework: Have you ever tried to trade in an exchange and it keeps crashing or errors keep popping up? This is as a result of the limited number of transactions that the exchange's matching algorithm is built to handle, in Probit these concerns would does not need to bother any trader, Probit is built to handle Millions if TPS (Transactions Per Second).
3). Power To The Users, Holders & Traders: Which exchange rewards traders for trading in their exchange? Well, you definitely wouldn't hit them with a stick if you threw it into a well filled with exchanges, that is how rare they are!. But Probit came with this up revolutionary idea of rewarding traders and also holders of the Probit Token(PROB) by distributing 50% of the platform's native token to holders of PROB.
✓ WEAKNESSES OF PROBIT: I have searched for a weakness in the operational standard set utilised by Probit and I could find none, the only thing resembling weakness I could identify was that it is still a fairly new exchange even though it has strong community support, there are thousands of registered users in the Probit exchange Platform but with the aggressive marketing campaigns organised by the Probit Team, you can be sure that this is a new platform but it sure isn't stagnant, it's growth is fast and steady.
✓ OPPORTUNITIES PRESENTED BY PROBIT: Have you ever wished there was a way to earn passive income by just holding a token? If yes your prayers has been answered, PROBIT shares amazing gifts to the PROB holders so all you need to do is own some amounts of PROB tokens and you would be earning a part of the your own share, awesome right?
✓ THREATS FACING PROBIT: Probit is a Cryptocurrency exchange and just like other cryptocurrency exchange, the main threat facing it is Hackers, in recent years exchanges has been prime targets to hackers but with the strict security measures and protocols used utilized in the Probit Cryptocurrency Trading Platform, this threat has been nipped in it's bud.
To learn more about the Revolutionary Probit exchange, check out my previous article about it HERE.
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Writer's Info
Bitcointalk Username: Collinberg
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1532780
Email: Collinberg19@gmail.com