The cryptocurrency exchange market has witnessed an exponential growth both in the number of newly registered users and daily trading volume on the exchange platforms.
To buttress this fact: in Jan 2018, the founder and CEO of one of the largest cryptocurrency exchange called Binance by name Changpeng Zhao revealed that Binance exchange added over 250,000 users on a single day. On January 4th, due to the massive influx of users on the platform, Binance disabled new user registration page to enable them upgrade their system. Other major exchanges in the cryptocurrency market also witnessed the growth which some analysts qualified as being “unexpected”
To deal with this abrupt surge or growth in cryptocurrency demands, some major cryptocurrency exchanges have to carry out a total overhaul of their systems to improve their performance and scalability while others temporarily stopped accepting or opening new accounts.
This massive growth shows that people are increasingly appreciating blockchain technology and cryptocurrency usage. The cryptocurrency exchange market is very huge and the current exchanges have only succeeded in scratching the surface. Hence there is need for more improved, faster and better secured platforms for the industry to cope with the massive growth.
_Again, despite the exponential growth witnessed by the cryptocurrency community, there are still some gaps or challenges which the current exchanges have not been able to address. They include:
• Some exchanges are not or poorly secured thereby rendering both the cryptocurrency assets and users information or data assets of the platform vulnerable to theft or compromised by hackers. For example, in October 2013, Silk Road exchange was hacked. MtGox exchange was hacked in 2014. Coincheck exchange was also hacked in 2018. And the list continues.
• High transaction fee charged by cryptocurrency exchanges is another challenge. Some platforms charge not only for trading activities but also for withdrawals.
• Most cryptocurrency exchange platforms lack the capacity or feature which allow deposit and withdrawal of fiat currency.
• There is little or no blockchain and cryptocurrency awareness and education among the masses which consequently is currently affecting the adoption rate.
• The complexity of most cryptocurrency exchange platforms is also a challenge facing the exchange market._
KuBitX will proffer solutions to all these challenges facing the current cryptocurrency exchange market and set a standard for the future cryptocurrency exchanges.
Introducing KuBitX (See video Below)
KuBitX Uniques Features and Capabilities:
• KuBitX will provide users with an exchange platform with the fastest transaction rate per seconds.
• KuBitX will partner with some payment service providers to give its users the option and ability to deposit or withdraw fiat currency.
• KuBitX exchange will be a user-friendly and easy to use platform with a training section for users at all levels to have better understanding of the exchange and its functionalities.
• KuBitX exchange will be a highly secure platform with lots of inbuilt security measures or features to shield KuBitX ecosystem from hackers’ threat and antics.
• Through the KuBitX Global Ambassador Initiative, awareness and knowledge on Blockchain technology and cryptocurrency will be extended and imparted to all, even to those at grassroot level, which will help to drive local adoption.
• Users of KuBitX platform will also enjoy 24/7 online customer support, and 5 different language options.
Conclusion:
KuBitX platform is a unique project currently on ICO stage with huge prospects and promising ROI for investors. The project has the capacity to solve a lot of challenges and also help the cryptocurrency community to achieve mass adoption.
Official KuBitX links:
KuBitX Website: http://www.kubitx.io/
KuBitX Ann Thread: https://bitcointalk.org/index.php?topic=4628365
KuBitX Whitepaper: https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
Authorship
My Bitcointalk Username: dontigana
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