Probit Exchange SWOT Analysis

chudisteemit (38)in #bitcoin • 6 years ago

Overview

Looking for that cryptocurrency exchange that looks beyond the ordinary in order to satisfy the needs of many investors, then think about Probit, a truly decentralized blockchain platform. Here is the SWOT analysis of this project that will help investors to make informed decision regarding their digital asset.

Strengths

One thing that Probit will bring on board is a proposal that seeks to restore confidence back into the crypto world by operating as a truly global platform.
ProBit operates with a matching engine that prides itself as one the world’s fastest and most efficient, processing well over 1,500,000+ transactions per second.
Probit comes as a safe and very secure platform that traders can trust to invest in. Probit platform focuses on three key areas of data storage and security: It stores more than 95 per cent of digital assets in cold wallet; two, it stores data with one of the strongest encryption algorithms; three, Probit supports FIDO U2F hardware security keys as well as software-based 2FA l which prevents hackers from entering without a key.
Probit perates a customer support service that works around the clock, round the week and round the year. 24/7 service is guaranteed.
Probit is designed to work with all the major existing coins, using Bitcoin (BTC), Ethereum (ETH), Tether (USDT), EOS (EOS, and its own coins, the BoriBit Token (PROB), as its base currencies. A total of 150 digital currencies with as many as trading pairs will accompany the proposal at its launch.
Probit will use all major devices and platforms including Chrome, Safari and Edge browsers, mobile devices, like Android and iOS.

Weakness

As it stands, probit has no Know Your Customer (KYC) and AML features that will ensure due diligence, close monitoring, and accurate report of suspicious transactions as well as prevention of funding of illegal and terrorist trades.
There are also risks associated with using the Probit platform which its Whitepaper states. These risks include deliberate actions such as DDOS attacks, phishing, and stricter than anticipated regulatory requirements.

Opportunities

Probit has a huge pool of opportunities in becoming crypto most used and dominant exchange platform with the high level of its security architecture.
Again, its superior technology offers Probit greater chances of attracting a lot of companies to be listed on the platform.
Wide device coverage is a great way to oust all existing trading platforms. Not many exchanges work with all devices, which Probit does.

Threat

Like every other Exchanges, Probit faces a potential threat in the area of worldwide suspicion about the future of cryptocurrency.
The security architecture of Probit does not still completely prevent hackers from finding a way to ‘demystify’ it.
Also, there are growing regulations against cryptocurrency investment in some regions and jurisdictions around the world, and Probit is not immune to such.

Conclusion

From the above analysis, it is clear that Probit presents itself as a great threat to Chinese-based two most adopted cryptocurrency exchanges in the world, Binance and OKEx. Potential investors will make no mistake trying out this amazing platform.