XTRD - A Revolution in the Crypto Space

In this article, I will be analyzing a new crypto project that I am really excited about. The project is a revolution in the crypto space and through its features, cryptocurrency has the high possibility of going mainstream.

The whole idea of cryptocurrency started with Satoshi Nakamoto, who utilized the Blockchain technology to create the first cryptocurrency (Bitcoin) in 2009. At that time, Bitcoin was created to work merely as a decentralized medium of exchange, which the government will have no control over. As time elapses, the technology (Blockchain) was found to be useful for other purposes aside from payment, which led to the creation of different cryptocurrency. Presently there are thousands of cryptocurrency in the crypto space serving different purposes. 

As the Blockchain continues to gain more recognition and adoption worldwide, it is the role of cryptocurrency exchange to provide traders and investors the necessary infrastructure to trade their cryptocurrencies for fiat (legal tender) or other cryptocurrencies. Though there are presently hundreds of cryptocurrency exchanges in the crypto space providing traders with services, there is still some inefficiency in that area that needs to be addressed. 

Issues with present cryptocurrency exchange

Issues with liquidity: liquidity is an obvious issue faced by traders in the present cryptocurrency exchange, as they will have to incur extra costs while fulfilling their orders. Buyers or sellers with large orders may find it difficult to get their orders fulfilled on a particular exchange due to low liquidity, they will, therefore, be forced to fulfill their orders at different prices on different exchanges, which will increase the total costs incur for the whole transaction. 

High fees paid by traders: High fees are another issue trader’s face with exchanges. Though the fees on decentralized exchange platforms are low compared to centralized exchange platforms, traders still incur high fees when taking into the bid and ask spreads maintained by exchanges.  An example is a buyer that wants to buy 500,000 pieces of a particular coin, he may not get all the coins with a single bid but have to buy in bits with different bids, which increases the accumulated fees incurred.

The complex web of exchanges: The existence of multiple exchanges have made things more complex for traders as they will have to adapt to different exchange websites interface, security procedures, API configuration and fulfill different KYC requirements. Traders (especially day traders) also face the problem of having to switch from one exchange to another in other to be able to liquefy their portfolio or flip between different crypto asset, thereby incurring a high cost as transaction and withdrawal fee.

These issues call for a drastic change and revolution in the industry. 

XTRD; the revolutionary solution 

XRTD is a decentralized platform based on the Ethereum Blockchain and with the aim of providing solutions to the challenges faced by traders on the present cryptocurrency exchanges. XTRD aims to solve these problems by unifying the cryptocurrency exchanges through the creation of infrastructure that will unify different exchanges and provide users with user-friendly and economical trading experience. 

XTRD offers the following solutions to the challenges faced by traders in the existing exchanges

XTRD solution to liquidity problem: XTRD will launch an amazing feature known as "SPA (Single Point OF Access) Liquidity Aggregation/Cross-Exchange Execution". The function of the SPA Liquidity aggregation is to facilitate joint venture partnership with existing exchanges, which will allow traders to clear their orders at the best prices across different exchanges through a single access point. 

XTRD solution to High fees paid by traders:  In order to solve the problem of high fees paid by traders, XTRD will be launching the XTRD pro, which is a highly robust, multi-exchange standalone trading platform for active traders. 

XTRD solution to the complex web of exchanges: XTRD will provide traders the ability to utilize the trading power of different cryptocurrency exchange in a single platform through the introduction of a universal FIX based API, which will enhance the connection and communication of different cryptocurrency exchange. The universal FIX based API is a technology that has been successfully used in the financial market for over 25 years.

For more understanding and clarification on the XTRD features, consult the whitepaper

Conclusion 

Trading on exchanges has in one way or the other being an issue for traders (both the newbies and veteran) in the crypto space. A platform that offers an innovative solution to the imminent problems is has been in demand for a long time and will be extremely valuable.

XTRD being a platform that provides the needed solutions to the problems faced by traders in the existing cryptocurrency exchanges, will make XTRD valued and accepted by the masses and will also drive cryptocurrency towards mass adoption worldwide, as the crypto space will be uncomplicated, user-friendly and easy to understand for both newbie’s and veteran entering the industry.

For more information about XTRD, check out the following contacts

Website: http://www.xtrd.io/ 

ANN Thread: https://bitcointalk.org/index.php?topic=4477503 

Whitepaper: https://xtrd.io/xtrd_whitepaper.pdf 

Telegram: https://t.me/xtradecommunity 

My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1633818 

#XTRD, #cryptocurrency, #cryptotrading