INTRODUCTION
The emergence of the blockchain technology has impacted the way we interact with each other as a result of the expansion of the technology on a global scale and more acceptance and use of blockchain technology by companies, organizations and individuals. There are more than 2,000 cryptocurrencies in the world and each is designed to solve a particular problem. However, the exponential expansion of the blockchain technology and development of more cryptocurrencies has led to the development of cryptocurrencies exchange platforms where cryptocurrencies can be traded in pairs against each other.
The major exchange platforms such as Binance, Coinbase, have more than 20 million accounts and 52 million tokens under their management as of May, 2018 and generate more than $1 billion in fees on an annual basis according to Bloomberg’s analysis of the market.
Additionally, most of the exchange platforms have not been fair in the transaction fees charged which has always been a major concern for traders and investors. The transaction fees charged by some trading platform are so expensive such that it cuts and in some cases eliminates the marginal profits of traders and sometimes lead to loss. Also, most of the centralized crypto exchange do not provide an option of trading cryptocurrencies for fiat currencies and vice versa which is debilitating to user’s experience. The unavailability of fiat currencies/cryptocurrency trading pairs on the major trading platforms does not give prospective investors who are willing to purchase a particular cryptocurrency the opportunity to diversify their funds and expand their portfolios as the investors may not have the digital asset required or paired against the desired crypto.
Similarly, the web interface of some trading platforms are so complex such that they become difficult to use for investors while some centralized exchange platforms are not secured to use as the digital assets of traders and investors might be lost as a result of theft by hackers on the websites which are delirious on user’s experience.
With the current challenges facing investors and traders on the current trading platforms, it is however essential to provide solutions to better improve users’ experience.
INTRODUCING CRYPTOSOUK IN SOLVING THESE INHERENT PROBLEMS
https://cryptosouk.io/en/ico has launched a cryptocurreny trading platform from ST Vincent and Grenadines to boost the cryptocurrency trading in the Middle East and Arabic countries to better improve the experience of users in the region with headquarter in Kuwait. The CryptoSouk trading platform provides simple and secured transactions for traders and investors with a website interface that is easy to use. The CrytoSouk trading platform will be launched in Q3 of 2018 and will be supporting crytocurrency trading pairs of Bitcoin, Ethereum, Litecoin, Ripple, Dash, Zcash and Monero giving users more trading pairs options to efficiently utilize their digital assets.
With a continuous plan of adding trading supports for additional crypto assets that meets certain requirements, the CryptoSouk exchange also allows for account loading by cryptocurrency or fiat currencies which provides the fiat currency/cryptocurrency trading pairs giving traders and investors and traders the opportunity to trade any digital asset with fiat currencies or vice versa and expand their portfolios.
The CryptoSouk team expertise has chosen partner to help deliver the exchange platform, liquidity on the exchange and a variety of funding options that investors and traders can use from. CryptoSouk aims to enable users of the exchange platform in the Middle East and Arabic region to transfer fiat currency in and out as inexpensively as possible as native to the fiat currencies used in the regions such as Dinars, Dirhams, Riyals as well as the international currency of Dollars.
With a view of achieving the aim above, CryptoSouk plans to invest in tools and partners who can help lower the cost associated with fiat currency/crypto transactions and make funding and redeeming of fiat currency inexpensive and easy to encourage more users. Also, the diversity of trading pairs and crypto assets which is an important factor that customers look out for in an exchange will be added to the CryptoSouk exchange platform to give users more trading options and improve their experience.
Additionally, CryptoSouk plans to invest in a standard customer service which is very important in meeting the needs and queries of users in this region and integrate it into the exchange platform to further enhance the experience of customers on the CryptoSouk exchange platform and the use of KYC/AML relevant documentation adopted by CryptoSouk which will give users a unique and frictionless experience is also an essential for a preferred exchange platform.
THE CRYPTOSOUK UTILITY TOKEN
The utility token of https://cryptosouk.io/en/ico called ‘SOUK’ is used to reward the CrytoSouk early supporters and buyers/holders gets discount on trading fees and other costs if paid in SOUK tokens. It is an accepted currency for all payments and transactions on the CrytoSouk exchange platform and it can be transferred and shared among the token holders since it is an ERC20 compatible token. Nevertheless, CryptoSouk plans to repurchase these SOUK tokens in the market with a portion of their profit in the nearest future once they are profitable which align the company with its early supporters and customers.
CONCLUSION
CryptoSouk gives the Middle East and Arabic region the opportunity to expand their portfolios by proving an exchange platform with a variety of trading pairs/options to improve the experience of traders and investors in the region. The availability of local fiatcurrency/cryptocurrency transaction which is inexpensive and easy on the CryptoSouk trading platform breaks the barrier of participation in the purchase of digital assets with fiat currency. Also the introduction of Customer Service and KYC/AML adopted on the platform provides a smooth interaction between the users of the trading platform and the teams/developers.
With the above good tidings brought by CryptoSouk, I hereby urge prospective investors to participate in the ongoing SOUK Token sale and stand a chance on getting discounts on the trading fees in CryptoSouk exchange platform.
For more information on Cryptosouk and how to participate in the ongoing token sale kindly visit the following links
Website: https://cryptosouk.io/en/ico
ANN Thread: https://bitcointalk.org/index.php?topic=4515317
Whitepaper: https://cryptosouk.io/user/themes/custom-theme/pdf/en/whitepaper.pdf
Author
BitcoinTalk Username: Eyez_berg
BitcoinTalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=2118767