With the total market capitalization for the cryptocurrency market at a record $1.7 Trillion dollars 2021 is experiencing a bull market buoyed by mainstream adoption and institutional investment for the first time in its history. The ICO fueled market bubble of 2017 has been replaced by tangible blockchain technology adoption in almost every major global industry.
Market Growth And Increased Demand
This seismic market shift offers opportunity for cryptocurrency exchanges offering new and innovative solutions to some of the problems posed by a rapidly expanding market. Demand is reaching boiling point and even the most reputable exchanges are becoming increasingly strained under a huge surge in traffic. This year Binance, Coinbase and Kraken all saw major disruptions due to an influx of “new unique users”.
Centralized Exchanges And A Changing Of The Guard
With most major industries beginning to recognise the benefits of blockchain technology, it is surprising that digital asset exchanges are one of the last to relinquish their centralized ways.
Centralized exchanges (CEX) facilitate trades via an orderbook, aggregating users orders with specialized software but don’t offer the ability for users to exchange crypto or fiat currencies with each other.
Centralized exchanges are vulnerable to hacks, struggle with hard-fork events and face significant regulatory risk. Systems are often kept off-chain, with escrows for users transactions not recorded on the blockchain as a result. This opens up risk of security breaches, and unsafe storage protocols for sensitive information. With blockchain technology leading the way towards a trustless economy, third parties are becoming increasingly obsolete and centralized exchanges will have to evolve to survive.
The Rise Of The Decentralized Exchange
Thet 12 months has seen a waning public trust in centralised exchanges due to hacks, sites disruptions, market manipulation and regulatory questions. These nagging issues have has a positive effect on the DEX market however, with exciting decentralized alternatives like Robinhood, 1INCH and Uniswap enjoying some of the limelight for their trustless approach to p2p trading.
In January 2021 decentralized exchange tokens outperformed their centralized counterparts with (UNI) Uniswap, Synthetix Network Token (SNX), SushiSwap (SUSHI), and Loopring (LRC) all recording significant growth in market value.
DEX crypto trading platforms offer superior privacy and security through p2p transactions between their user-base. Hard-coded algorithms are used to execute trades without the need for intermediaries. Decentralized exchanges are more focused toward a seamless user experience and also lack the ability to restrict trading, so users will not be subject to frustration random disruptions.
One company making strides in the DEX space is Bitsz.io, a blockchain-based tech company with a strong focus on regulatory compliance and users experience. Bitsz offers a seamless P2P trading environment where all users can freely trade both crypto and fiat with one another, without the need of any controlling third party.
TruTrade Multi Asset Exchange
Trutrade is a one-stop exchange and digital solution that provides maximum security, arbitrage through machine learning and one of the fastest trading engines in the world, capable of processing up to 10 millions transactions per second.
Tru Trades offers its users future derivatives trading, so that they can trade on credit by depositing a small amount of cash. TruTrade smart contracts support insta lending and borrowing options to users and complete assurance to both parties. The exchange supports multiple payment options including a debit and credit card payment solution with full KYC.
With the project’s development TruTrade is on course to secure its first roadmap milestone of 10,000 users by Q2 2021 and with the new web app for Android and iOS touted for Q3, Trutrade is on course to have 1 million exchange users and 200,000 mobile app users by 2022.
TruTrade also focuses heavily on User Friendly UI, incentive programs, and has some of the best trading trading fees as low as 0.05%. The exchange offers superior data protection with both KLM and BDPR compliant policies.
Bitszbot Trading Engine
Bitsz Trading Engine is the beating heart of TruTrade asset exchange and a uniquely powerful tool that can handle an impressive 10 million transactions per second. It was also designed to fight the growing issue of market manipulation and uses machine learning to detect any nefarious trading activity. Bitszbot is also a market intelligence platform and feature for binary options traders.
Bitszcoin is a Proof of Work fork of Pivx with a Proof of Work algorithm which offers a quark-based blockchain to provide a transparent and secure system. There are 100 Million pre-mined coins. Bitszcoin will be available for trading on the exchange.
Bitsz’s inception will bring the cryptocurrency industry toward a greater purpose – removing the issues that plague centralised finance. Who knows where the industry will be in a year’s time, but it’s clear that Bitsz will be at the core of it.
To visit the next generation of DEX, visit the Bitsz website at https://bitsz.io/