The idea of the world moving into a cashless system of payment has long been envisioned but it was first started with electronic cash such as Visa Card, Master Card etc. until Satoshi Nakamoto unto the scene with cryptocurrencies way back in January 2009. Bitcoin was the first cryptocurrency to be generated with the blockchain 1.0 and later on Ethereum was also generated on the blockchain 2.0 by Vitalik Buterin. Currently, several cryptocurrencies have been generated in addition to the once named above and examples of them are Litecoin, Dash, Ripple, Stellar etc.
The main reason behind the generating of cryptocurrencies was to create a digital system of making payment which would reduce the cost of transaction that people have to endure while conducting transactions through our central banks. Another reason which cannot be overlooked was to create a fast and secured method of making payments which was fully embedded in anonymity. Though cryptocurrencies were created to serve as a digital mode of payment for transactions it is being used as an investment platform by many crypto enthusiasts. Day in and day out cryptocurrencies are being released into the system and in case an individual was not able to participate in the Initial Coin Offering of the project then he/she has to go to an exchange site where the particular cryptocurrency is listed to purchase some. The cryptospace is filled with numerous exchange sites and some of them are Binance, Hotbit, Ethfinex, Fork Delta, Idex etc.
These exchange sites have served the crypto community quite well but we all testify to some challenges that we face anytime we conduct our trading activities on some of these exchange platforms. There was then the need to create an exchange platform that would serve the crypto community with the very best of features hence the establishment of Cryptosouk Decentralized Exchange Platform. This piece of writing seeks to elaborate on some of the challenges that crypto enthusiasts face when conducting transactions on some of these exchange platforms and enlighten the public about the Cryptosouk’s version of an exchange platform.
CHALLENGES THAT CRYPTO ENTHUSIATS FACES WITH SOME EXCHANGE PLATFORMS.
Poor User Interface
One of the most important features of any platform which I think should be taken into serious consideration when establishing it is the user interface because you cannot be certain of that your users are going to have in-depth experience on using the platform. Therefore, it is advisable to make the user interface as simple as it can be. However, the user interface of most existing digital assets exchange platforms are not designed to suit the trading experience of the average cryptopreneur and this sometimes makes trading on some exchange platforms very difficult. Some of them also have a very clumsy layout making it difficult for users to find out their way through in their trading activities. It gets worst when there are not well labelled features to assist users in navigating through such platforms.
Late Order Book
One major characteristics of cryptocurrencies that scares most people from investing into it is its nature of volatility. This is why crypto enthusiasts always want to have a view of their cryptocurrency portfolio form time to time just to avoid any massive dump of any of their assets. The same reason applies to trading on any exchange platform, from time to time the prices of cryptocurrencies fluctuate but it is so heartbreaking that some exchange platforms don’t have a live order book where the prices keep updating as the orders are being placed. With some of these exchange platforms you would have to reload the webpage in order to have a feed of current prices that are being placed. You can just imagine selling at a cheaper price and after reloading the page you realized that the price has increased way above the price you sold your cryptocurrency. This has resulted in crypto enthusiasts losing huge income due to this late order book views.
Short Term History of Trades
The volatility of cryptocurrecies sometimes make it quite difficult to know the exact price at which you should buy cryptocurrencies or even sell the ones you have in your possession. The best tool to help crypto enthusiasts in their trading experience is the use of the trading history of the trading platform to actually determine the potential of the asset. By so doing users can know the both the highest and lowest limit within which that cryptocurrency alternates so that they can make a better decision in the investment plans.
It just happens that most exchange platforms don’t have their all information regarding their trade history. It’s more of like only the recent and those that goes way some few days are stored on the platform. This makes it difficult for cryptopreneurs to make informed decision regarding their trading activities.
THE SOLUTION THAT CRYPTOSOUK OFFERS TO CRYPTOPRENEURS
Simpler User Interface
Cryptosouk digital assets exchange platforms have the very best and basic user interface to enable all crypto enthusiasts conduct their trading activities with ease. With just a simple and quick sign up cryptosouk exchange platforms have well defined tabs to help users to navigate the exchange platforms without the slightest hustle. It gets very interesting when the exchange platforms enable users to customize their page, borders and background with special colours. Since users have the opportunity to specially design their tabs with colours it will go a long way to assist users know their way through out the exchange platform.
Constant Live Order Book
The order book of cryptosouk exchange platforms updates itself as and when new orders are being placed so that traders would know how to either make new bids looking at the current trading price or even setting new bids. Nobody would want to sell cheap or even buy at an expensive price when the price could be lower. Cryptosouk understands the need to update the order book for better decision in trading so it has installed unto its system a live order book.
Saving Trading History
The history trades of a cryptocurrency is very important as it is with this feature that you can actually determine the potential of a cryptocurrency looking at its trade trends for quite sometime. Cryptosouk understands this system and hence has enabled a feature where users can save the trade history of any cryptocurrency so that they can refer to it in order to make informed decision regarding their cryptosouk portfolio.
Cryptosouk exchange platforms have several features such as special indicators, multiple trade views and other amazing packages that could not be mentioned in this piece of writing. Please refer to the whitepaper or website for more information about this exchange platform that have been specially created to serve the crypto community better than the existing ones.
TOKEN AND TOKEN SALES
ROADMAP
TEAM MEMBERS
The team members of this project have proven beyond all things of their capability of carrying this project to great success with the high level of experience in their various fields of discipline. Below are some of the team members please refer to the website to get to know the entire team behind this amazing project.
CONCLUSION
The cryptospace is getting bigger with each passing and day with several exchange platforms springing forth from every corner but among all these exchange platforms there is none that beats Cryptosouk looking at the features and components that have been inculcated unto its platforms.
Follow up on the contact lines below for more information about this project:
Website: https://cryptosouk.exchange/
Whitepaper: https://cryptosouk.io/user/themes/custom-theme/pdf/en/whitepaper.pdf
Telegram: https://t.me/cryptosouk_community_en
Facebook: https://fb.me/CryptoSouk.io
Twitter: https://twitter.com/CryptoSouk
Youtube: https://www.youtube.com/channel/UCLUcPnbxnzdyaeQzDxYyw1w/
Reddit: https://www.reddit.com/r/CryptoSouk
Medium: https://medium.com/@cryptosouk
Bitcointalk thread: https://bitcointalk.org/index.php?topic=4515317.msg40654837
Author
Bitcointalk Username: Kelvinikke
My Bitcointalk profile link is https://bitcointalk.org/index.php?action=profile;u=2087374