Yesterday, the crypto market witnessed a small rally. This has offered minor relief as the present bear market has crushed most cryptocurrencies.
Only 2 quarters ago, this market had witnessed a bull-run that soared it to record heights. That bull run was caused by an influx of early adopters who had realized the potential of blockchain. Cryptocurrencies have now exhausted their penetration into the hands of early adopters and there's now a need for fresh interest and fresh fiat.
The opportunities available in this market, despite the volatility, are very tempting. However, as the market remains heavily unregulated, it is too unfriendly towards the average person. The vast portion of the world participate in investments with a casual frequency and prefer some degree of paved guidance, a feature that is largely rare in the crypto market.
A group of Indian entrepreneurs is working to change this by developing the Calfin Global Crypto Exchange (CGCX). The CGCX will incorporate specific features that target the aspects of the crypto market that make it too challenging and undesirable for the average individual.
Security, Convenience & Guidance
Security
The media tends to regularly highlight weaknesses in the crypto market. Small exchanges that get hacked have an immense impact on discouraging adoption by the average person. While the damage that has been done cannot be reversed, CGCX has offered a safety measure that will win the interest of the mass market. All assets on the platform will be secured through an insurance provider. The result of this will be that those individuals who were intereste in the market but feared loss of assets to a hack would now be willing to adopt crypto trading.
Convenience
Security isn't the only factor that holds back adoption. Crypto market offers a very raw trading experience compared to e-brokerage platforms offered for stock trading. A new crypto trader would need to go through great leaps. Fiat must be converted to ETH or BTC on a fiat exchange and then the coins must be trasferred to a prominent crypto exchange to gain access to a larger menu of tokens. The lengthy, reverse process is necessary to get fiat. This is far too inconvenient to attract casual investors, which happen to be the majority of the population. Hence, CGCX is incorporating both fiat and crypto pairs in one platform. The days of having to hop between one exchange to another for trading are numbered.
Service
In a world where most businesses have adopted customer-centric operations, crypto exchanges have become increasingly crude in comparison.
Most exchanges take their customers for granted. As the existing community has adjusted to a lack of convenience, most exchanges do not have a focus on customer satisfaction. However, CGCX has a goal to develop brand loyalty and wants to offer a more consumer-centric exchange by valuing customer support. The exchange even intends to allow regular voting to allow the community to decide upon which new cryptocurrencies should be added to the exchange. This shift to offering a more customer-centric environment will allow new adopters to feel welcomed.
Guidance
ICOs are becoming a more prominent means to invest in cryptocurrencies yet the degree of risk associated with them goes beyond the speculative nature of seed investments. Far too many ICOs have turned out to be scams and this is one of the main cause of the negative reputation associated with crypto. This has pushed away a wide scale of interest.
CGCX is incorporating and ICO launch platform. The goal of the platform is to ensure only vetted projects are able to issue tokens using CGCX's platform will serve as a trusted channel for investors. ICOs listed on it would be auditted. This will ignite a fresh interest in ICO investment as it'd be easy to distinguish which ICOs are mere scams and which are genuine projects.
Wrap-Up: The crypto market can enter a new bull-run if the market can garner fresh interest. The current crypto trading and investment experience remains too unfriendly for the mass market, however, CGCX is developing sn exchange with the most customer-centric features to ensure a fresh wave of interest can adopt the market.
This fresh wave of participation is the catalyst necessary to ignite a bull-run.
Essential Links
🌐 Website: https://www.cgcx.io/
💡 Whitepaper: https://www.cgcx.io/wp-content/uploads/2018/05/Whitepaper.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3360185
💻 Telegram: https://t.me/cgcxofficial
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