After the inception of blockchain technology and as several cryptocurrencies began to gain root, the need for a valid means of exchanging one cryptocurrency type for another became obvious. Due to the specific use case of some of these cryptocurrencies, many of them would have been rendered useless in the hands of several individuals due to the inability to put it to good use.
The cryptocurrency exchange platforms currently available for use can be grouped into two major classes which include;
- Centralized Exchange
- Decentralized Exchange
+Centralized Exchange: In centralized exchange platforms,there is usually a governing body running the affairs of the entire ecosystem. They are often easy to use and users have easy access to advanced trading features.
+Decentralized Exchange: Decentralized exchange platforms do not have a central decision maker. This type of exchange embodies the true goal of blockchain technology which is “decentralization". Participants are fully entrusted with the security of their funds and the high degree of data confidentiality is a key advantage.
In summary each type of exchange platform comes with disadvantages of its own. This has forced traders to decide on which of the disadvantages they are willing to cope with. I'll like you to take a moment to picture how valuable an exchange platform which combines the best features of the centralized and decentralized exchange platforms will be of value to the cryptocurrency ecosystem at large.
Peculiar disadvantages of existing exchange platforms
The raft of exchange platform currently at our disposal still have several shortcomings which bring to light their inadequacies. These issues include, but are not limited to;
- Complex KYC procedures: The process of getting whitelisted with many exchange platforms often requires a KYC procedure which negates a key ethos of blockchain technology which is privacy. This process could also take as long as one week, often limiting traders who have just created a new account.
- Unfriendly user interface: This concern is mostly held by novice traders due to the fact that they often lack the fundamental knowledge of trading cryptocurrencies. It leads to inability to properly maximize the benefits offered by the platform.
- Limited trading and investment tools: Most trading platforms lack the advanced trading tools that are needed to make cryptocurrency trading easier and even more profitable. Also, due to the fact that the cryptosphere is still evolving to cater for investors, exchange platforms have limited tools available for cryptocurrency investment.
- High exchange fees: Many cryptocurrency exchange platforms charge anywhere between 0.10 and 2% as exchange fees which is often pretty high for traders operating on small margins and who carry out a large amount of transactions.
A major point highlighted by the problems listed above is the need for a major upgrade on cryptocurrency exchange services.
Introducing Renovato
Renovato is a trade-driven exchange platform that intends to make cryptocurrency trading easy, secure and more profitable.
Renovato is an innovative platform which intends to bridge the gap between traditional exchanges and cryptocurrency traders. By offering much more than the basic functionality of cryptocurrency exchange platforms, Renovato appears to be well ahead of time. The Renovato platform is incorporating a copy trading feature which enables novice traders to copy trading patterns of more accomplished traders along with an artificial intelligence based matchmaking feature that enables users to find best opportunities for trading depending on their portfolio size. Renovato also introduces a proven self-developed trading algorithms for Forex and Cryptocurrency trading.
Key features of Renovato
Renovato intends to make cryptocurrency trading and investment more secure by introducing innovative features which include;
- Multiple investment methods: Renovato provides adequate flexibility for investors by offering a platform where you can exchange both fiat and digital currencies.
- Portfolio management: Renovato offers users the opportunity to manage all their investment with an advanced portfolio management tool.
- AI based matchmaking: Users get recommendations about the best investment opportunities available to them based on investment portfolio and previous investment patterns.
- Easy KYC process: Renovato offers E-KYC which enables users to complete the process just by filling out a form and application verification will often be done in a few hours.
- Speedy transaction processing: Renovato is a platform that offers ultrafast transaction processing speed even at times when the network is congested.
The token sale of “VATO” tokens is on and runs till 30th April, 2019.
If you intend to learn more about the Renovato platform, you can visit any of the links listed below;
[18 February, 2019 - 31 March, 2019]
Twitter: https://twitter.com/Renovato_STO
Facebook: https://www.facebook.com/renovatoexchange
Whitepaper: https://renovato.io/wp-content/uploads/2019/02/RENOVATOFX.pdf
Website: https://renovato.io
Authors Btt Username: mtbosede
Authors Btt Url:https://bitcointalk.org/index.php?action=profile;u=2407189