ONAM: A REVOLUTIONIZED TRADING AND EXCHANGE PLATFORM

The cryptocurrency trading platform like we all know I'd used for the trading and exchange of cryptocurrency assets. As cryptocurrency rises globally, we've seen a massive increase of users in the market which ad resulted to the success of the market and had also been a plague to the exchange market. The following are some of the major problems encountered in the cryptocurrency market:

Unsafe exchange and security Exchange: The cryptocurrency market as experienced a lot of attacks which as continuously undermined the trust in investors and cryptocurrency traders thus depleting the rate at which traders and investors invest or trade on the exchange.
Early this year, some exchanges were hacked due to lack of sufficient securities like:

• The South Korean exchange also known as coinrail was hacked and over 40 billion won which is equivalent to 36.9 million dollars was stolen.
• Coinheck was the largest so far this year, at about 500 million U.S dollars was stolen as a result of hacking.
  Security breaches by hackers as made platforms so unbearable putting trader’s funds at a great risk por to be stolen.

Scalability Limit and other exchanges: Like we all know, the cryptocurrency market is increasing massively, we have some altcoins that processes transactions. This transaction comes with so much data and we know there are many transactions that are being processed every second on an exchange but the major problem is massive delays of transactions due to the large amount of business partners trading and investing on exchange platform.

Market Manipulation: In a market you can’t expect everyone to be very rich and flamboyant with large cryptos, we have both large scale(extremely rich in cryptocurrency assets) and small scale individuals on the cryptocurrency market and the major problem is that the buy and sell order are initiated by a group of the rich individuals also called whales. These large scale investors have the ability to move the price up and also able to bring down the price.
Spoofing, wash trading, pump and dump by whales have actually created a lot of pressure for small scale investors.

Lackluster Customer Support: There are a lot of attacks which can undermine the trust of investors but still the unavailability of the report of lack of funds is also one of the challenges encountered. There are no or less services that can help investors or traders search for their lost funds but the major problem is the slow response due to massive requests rendered by traders.

Lack of Regulatory Compliance: In life, there are laws governing the financial system both locally and internationally. To invest and trades inquires saving of cost but some regulations stops from platform making funds to be automatically stocked and can never be recovered. We’ve seen a lot of fake projects who have sweet talked most investors on how there coin will boom and have high returns after the initial coin offering, because of series of reports of fake projects; SEC is scrutinizing most crypto exchanges and ICOs projects.