Cryptocurrency has taken a lot of advancements over the years with the adoption of bitcoin in 2009, it has been on steady progress yearly. Then Bitcoin’s blockchain technology has given rise to other coins such as ethereum and many others we know today. As bitcoin has started obtaining mass adoption, it gives rise for the need of crypto exchanges.
What are cryptocurrency exchanges?
This is a platform where tokens and coins can be easily traded for other coins. But, there are many areas that need to be filled with better improvements for those cryptocurrency exchanges.
Some of those issues are as follows.
- Transparency on security tokens
- Sentiments in the market
- News on trading pair
- Price speculations by unknown traders and people who invest on those.
So, let’s talk them in deeply one by one.
1) Transparency on security tokens.
There are lots of ambiguity surrounding security tokens and most times exchanges do not support this security tokens not to talk about educating user about security tokens. This is one of the biggest problems of crypto exchanges.
2) Sentiments in the market.
To attract investors for the Crypto currency platforms, there has taken social media presence often. When this investor get attracted to it, some are biased about their investment, but won’t let down the word out about why they eagerly need to buy that particular coin or why they need to drop that particular coin. Hence this lack of transparency and sentimental dealings leads to lots of victims loosing funds due to not having proper image on their investments.
3) News on trading pairs.
Projects in this space make timely announcements on one or many of the social media platform they are active on. These then get picked up and shared by crypto media and individuals who see it first. There are several issues regarding this. One of it is tracking. In order to be among the first one to hear the news and get in on the price action early, an investor must be active on various platforms. When you combine this with multiple projects that the investor might be interested in, it becomes an impossible task to stay on top of all the outlets. Secondly, when this news reaches investors through media outlets or other individuals, it is no longer unfiltered and often carries the bias of the reporter.
These factors combine with the issues of fake or poorly researched news, third party announcements that might affect a security, pumps and dumps make this a very noisy space.
4) Price speculations by investors or unknown traders.
This expert with their huge followers and fan base on social media, influence investors by giving self-acclaimed trades and activities they do on the blockchain. This eventually lead to them giving self-proclaimed or future token prices. Because of their name and fame, people invest in what they say and later end up getting burned.
5) Macroeconomic views of different cryptocurrencies.
The experts in cryptocurrencies, give advices, keep tracks and help investors to be up to date. But at the same time, this expert can decide to be biased and mislead investors for personal and selfish reasons.
So, at now most of the exchanges try their maximum to avoid security tokens. Also they eagerly try to ban users in countries where this tokens are listed as utility tokens. Hence, exchanges should offer a lot more to their users and also need to have a provision for an ecosystem of security tokens.
This can definitely enhance the market because many investors will be drawn to cryptocurrency ecosystem. Also their risks will be reduced due to those security tokens. Thereby, to solve all these issues there is a constant need of exchange should follow.
Therefore, to overcome this crisis, Nebula was created.
What is Nebula?
Nebula exchange is a unique centralized cryptocurrency exchange platform that combines a state of the art trading platform with news, technical analysis, user reviews and P2P messaging to provide a one stop community centered trading solution. They believe that, in the nascent stage that cryptocurrency markets are traders; specially new ones, need a lot more than just price and volume information to make decisions and Nebula exchange will be the solution. Nebula also strives to become one of the first exchanges to provide support for security tokens.
So, I hope you guys will get an idea about Nebula Exchange and need of that kind of cryptocurrency to the world. So, stay tuned with me for more upgrades about Nebula Exchange from my next articles.
Keep in touch with this project.
Thank you.
Channa Jayawickrama.
Please don't forget to share your ideas and knowledge about the project with me. You are welcome to share them in the comment section of this article.
For more information, please visit;
- Website: https://nebula.exchange/
- Whitepaper: https://nebula.exchange/wp-content/uploads/2018/04/Nebula-Exchange-Whitepaper.pdf
- Facebook: https://facebook.com/Nebula.exchange/
- Telegram: http://t.me/nebulaexchange
- Twitter: https://twitter.com/Nebula_Exchange
- Telegram: http://t.me/nebulaexchange
- Ann Thread: https://bitcointalk.org/index.php?topic=4583209
Author Details:
- Bitcointalk Username : ChannaJay
- My Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=2257529