XTRD - Unifying Cryptocurrency Exchanges
The cryptocurrency world has innumerable currency exchanges. This leads to a lot of unnecessarily high costs, more than necessary KYC from the user's end, and lowered liquidity in the crypto market. Xtrd is hoping to finally solve the problem. Here's what we know about them so far.
Xtrade works on the Ethereum platform and is a token type project. The team behind Xtrade is hoping to build the infrastructure to help smoothen the process of buying and selling cryptocurrency. Their main aim is to build solid hardware and software solutions for the cryptocurrency exchange markets. Not only do they want fund managers and traders to have access to this software, but ordinary folks like you and me should be able to trade at the cryptocurrency exchange with ease.
The team behind Xtrade has been working with currency exchanges for a while. Their expertise lies in building trading platforms for large-scale use. Alexander Kravets, Sergli Gulko, and Jon Glacobbe are the founding members of Xtrade with Oleksandr Lutskevych acting as an advisor to the board. All these members have had a ton of experience working with the big trading firms like Goldman Sachs, JP Morgan in various positions and roles. The platform has been built by men with experience and they know what they're doing.
**What Problems Does Xtrade Solve? **
- Easier Trading One major concern that most people have while trading cryptocurrency is how difficult it is for people to hear about the right ICO's. Xtrade is hoping to end that problem by connecting all the exchanges and providing everyone with the same opportunity on a common platform.
- Lower Trading Fees Individual cryptocurrency exchanges are usually unregulated. Their fees can range from 0.1% to 0.25% per order. By connecting the various exchanges Xtrade will be more like a regulating body and provide a level playing field for all exchanges and currencies.
- Improved Liquidity Xtrade also hopes to improve the liquidity in the cryptocurrency market. This will hopefully enable more people to invest in cryptocurrency. Currently, when dealing with only exchanges a trade worth $10,000 can easily cost more than $500 to the investor due to fees, and a lack of liquidity. Using the Xtrade system this problem should be resolved.
Personally, I believe that the intention is excellent. The low latency Financial Information Exchange (FIX) based API that the Xtrade team has been working on is truly spectacular. Connecting all the crypto exchanges will bring more liquidity to the market making it easier for funds, and broking houses to make smoother bets. The cost of execution should also be lowered along with the risks involved with the trades. Also, I really like the fact that for once there will be a transparency of the prices of the various coins in the market. People from all over the world will be able to exchange any coin for another using their proprietary technology.
- Improved Liquidity Xtrade also hopes to improve the liquidity in the cryptocurrency market. This will hopefully enable more people to invest in cryptocurrency. Currently, when dealing with only exchanges a trade worth $10,000 can easily cost more than $500 to the investor due to fees, and a lack of liquidity. Using the Xtrade system this problem should be resolved.
While Xtrade is a highly rated cryptocurrency the final investment decision should always be taken with due consideration. To know more about Xtrade you can visit their website at:
Website: https://xtrd.io/
Whitepaper: https://xtrd.io/xtrd_whitepaper.pdf
Author: https://bitcointalk.org/index.php?action=profile;u=1078950