We continue to get acquainted with the project in the final part of the review and today we will talk about the more global impact of the project's work if it reaches the scale it seeks.
Wash will not work
One of the main problems that the crypto exchange markets pursue is the so-called wash trading, or fictitious trading as it is also called. It consists in the fact that a person carries out operations that are similar in appearance to the trade in crypto currency: the owner of one account sells, the owner of another buys. But the catch is that the trade takes place within one user: a person owns two accounts on the stock exchange (or even more!). It's like shifting money from one pocket to another.
Source: Market Business News
It would seem, this is a real nonsense: "From the fact that I will transfer my funds from one account to another, I will not get any benefits," you object. Well, then you did not fully understand the crypto-currency market and trading .
Fictitious transactions on the exchange are a method of market manipulation. Using large amounts, sharks of this business change the price of coins in the direction in which it is profitable for them. By selling and buying from themselves, they do not lose anything. But in this way they detonate the processes on the market, which are beneficial to them for further trade.
These actions are considered a number of laws, as an economic crime. But, nevertheless, some exchanges do not eliminate the vulnerability, which allows for such operations. Moreover, some of them contribute to this kind of earnings. For example, one of the representatives of the Bitfinex exchange, about which we have already talked, confirmed that the platform trading platform allows fictitious transactions. Thus, we witnessed how a person confirmed the platform's involvement in the manipulation of the market.
This example we have resulted to show how important implementation can become KuBitX . Even before launching the platform, they stated that they are developing a tool that will prevent fictitious trading in all its manifestations. Thus, the platform demonstrates that it does not want to participate in a process that destabilizes kryptorics and does not make currency out of coins, but an object for speculation.
Business needs stability
We again return to the question of why most entrepreneurs do not want to use the crypto currency and every time we find new answers. It's time to recognize yet another fact: a businessman does not operate with tokens because the market that must provide their liquidity is very unstable.
Firstly, this is manifested in the fact that constant speculation on the crypto currency does not give it a real price, which would enable it to work with the coin as with any other asset and even conduct payment transactions with them. Also, with the establishment of a specific price, a population without prejudices will be able to acquire a crypto currency for working with individual companies, or at all, to conduct all their business in the crypto currency.
Also, a very significant factor is that the places where it is possible to exchange the crypto currency are constantly suffering from various kinds of turmoil. Reading the news you can understand that from time to time with each stock exchange there are various troubles, and suffer from this users. In the second part of the review, we have already talked about the reasons for this.
But KuBitX will be a completely new product. In the paragraph above we have already said that the platform is going to resist "dirty" speculation, and earlier that the platform will provide its users with the highest level of security. We have already compared the exchange with the bank and hope that KuBitX will be able to justify this comparison.
When entrepreneurs can be sure that their crypto currency can be quickly and conveniently exchanged for any other asset that will be needed by them at a particular time, they will be able to start using crypto-currency payments without hindrance, considering their security and low cost.
This concludes our review of the KuBitX project. For now, we can only say that the platform promises to be interesting to the user, especially the novice, who is just beginning to get acquainted with such currencies. By the way, ICO KuBitX is unique in that krausejl will begin already after the launch of the platform, so that investors can assess how good the product is - an honest approach. And of course, we wish good luck to an honest project that offers a good product!
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