Mastery of crypto coins is one side of seamless transactions on the blockchain and risking frustration by the exchange is another. Soon after Bitcoin was introduced, lags trailed the system and continued into the exchange. As countless crypto trading platforms were forged; from centralized to the current decentralized system, the issue of low throughput had been persistent.
As Encrybit joins the crypto community, this time as an exchange, it is important to look at it closely and determine if it will join the current crop or becoming outstanding. To this end, what is ground is poised to be better than well-known trading platforms such as Binance.
LOOPHOLES IN CURRENTLY EXISTING CRYPTOCURRENCY EXCHANGE PLATFORMS
For a solution to be forged there must be a problem. Currently, there are multiple issue fragmenting the continued existence of crypto exchanges. First, there are high fees to contend with. In the crypto community, traders can opt to trade on daily basis or wait for when the time is right.
For day traders, they often wait for cash-out at the end of the day and during this time, they have little funds for their efforts. This was because they contend with multiple fees accrued to their transactions. There is also confusing interface. For a trader that is yet to comprehend how transactions are conducted, charts that have become predominant in many exchanges will not be favorable for the positivity of their transactions.
ENCRYBIT SOLUTION
In furtherance of bid to see to efficient crypto trades, there are immense features that will be used in disrupting current status quo. From user-friendly interface to low-cost fees, Encrybit leaves no doubt to its impressive inputs to the crypto trading community. The following are the features that makes Encrybit stands out amongst currently existing crypto exchange platform.
ORDER MATCHING
The engine to coordinate transactions targets a million transactions each second. Such had been on other exchanges but what makes Encrybit's matching engine tick is the impressive infrastructure. There was romance with the popular Amazon Web Service (AWS) that has capacity of processing concurrent transactions without hitches.
SCANNING TOOL
Apart from Bitcoin, there are other coins such as XRP that are lurking in the shadows and only waiting for the right time to take-over. They're however literally unsung on most exchanges and save for few traders that are in the know, others cannot be able to fish them out.
Encrybit therefore integrated the screening tool, Crypto Radar that allows traders keep track of their favorite coins. There is also inclusion of their trading pairs and with this; prices of such coins can be ascertained over certain period of time.
TRADE REPORTS
It is noteworthy that the features available on the exchange were based on popular demand. Encrybit's team had taken researches on several issues on crypto exchanges and created solutions. Risk-hedging was one of such and the solution was to be a report on trades.
With the profit and loss intelligent report, traders can easily keep track of their investments and from available records, make mental note of continuing with trade or backing off for some time. Such is better variant than losing one's funds in one swell swoop. Availability of this report gives insight and helps in decision-making.
SUPPORTING AMATEURS
Currently, most cryptocurrencies are in the red but many investors are still joining the system. Their move is perhaps buoyed by the past glories of the likes of Bitcoin. In a time like this when most coins are down the alley, it is pertinent that would-be traders get acquainted with what is on ground. Because most join to make quick profits without considering the risks, they tend to fail.
Encrybit has something to entice traders; especially newbies. That is the demo trading platform. Here, incoming users can play with miniature trading facilities and get insight to what the "big game" is all about. At this point, losing few coins is enough insight to what to expect later-on. If such traders wish to continue, the choice is entirely theirs but they already have in mind that the system is not entirely bearish as they might have believed.
NEWS AND HIGHLIGHT
The absence of risks make an enterprise suspicious and the inability of crypto traders to avoid these risks will not be in their favor. To this end, Encrybit offers users real-time notifications. Traders can set preferences on coins they want to keep tab with.
When prices go up or get below certain limits, these notifications allows traders trade for more profits or withdraw their funds and wait for the right time to re-commence trades.
There is also news support that allows you get information from around the globe on favorite coins. For instances, opinions can be gathered from blogs and presented here. The social media handles of such coins in addition to their trending hash tags will be brought to bear here so you can be abreast of what's ongoing.
REFER AND EARN
Loyalty programs motivate users of every platform and Encrybit has same in stock. Through refer a friend platform, you can invite your friends and get rewarded. Likewise, there is also quarterly lottery system where tokens will be redistributed to token holders.
TOKEN
Tokens that drive the economy of the Encrybit exchange is known as Encrybit token (ENCX). The tokens are utility tokens that will be utilized for operations and activities on the exchange. the tokens will be bought back every quarter by the developers, thus leading to a consequential rise in the value of the token as bought back tokens will be burnt and the supply of circulating tokens will be reduced. This process of buy-back and burning of bought back tokens will continue until 50% of the total supply is destroyed. As a result, it is certain that the value of the ENCX token will rise within a very short period of time, thus early investors will get high value for their investment.
Conclusively, Encrybit exchange aims at being the best platform for exchange of cryptographic and digital assets. In the future, it is poised to be among the first ten (10) exchanges in the crypto sphere.
TOKEN SPECIFICATIONS
Ticker: ENC
Token Type: Utility Token
Token Standard: ERC-20
Platform: Ethereum
Token Supply: 270 million
Exchange Rate: 1 ENCX= $0.2 USD
Soft Cap: $5.4 million USD
Hard Cap: $32.4 million USD
THE TEAM
For more information about Encrybit exchange, kindly visit:
Writer: Crypto4ruby
Website: https://encrybit.io/
Whitepaper: https://encrybit.io/pdf/encrybit-wp-v1.pdf
Telegram: https://t.me/encrybit
Facebook: https://www.facebook.com/encrybitofficial/
Twitter: https://twitter.com/enbofficial
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1788350