FXPay; MERGING THE CRYPTO AND FOREX MARKET FOR A BETTER TRADING EXPERIENCE
Crypto markets can be described as a market in which crypto currencies are exchanged for one another and also managed. On the other hand, Forex markets can be seen as a market for the exchange of Fiat currencies.
OVERVIEW
The forex market according to reports is the world’s largest financial market with a market cap of $5 trillion on daily basis and still expected to grow more in later years. This signifies that it is a very viable venture for investors and business men.
In recent times, as a result of innovations in technology another medium for payment and execution of transaction, which are crypto currencies have been created. The technology behind the creation of crypto currencies which is blockchain is quite unique as it has been able to proffer solution to some of the short comings of the use of Fiat.
The use of blockchain technology by crypto currencies is much safer, secured, convenient and so on, which accounts for the exponential growth of the market reaching the levels of $400 billion in January 2018.
The potentials of these markets (crypto and forex) require that investors in the crypto market should have means of also enjoying the benefit in the forex market and vice versa.
FXPay seeks to provide a decentralized gateway to the global digital environment through its adoption of blockchain technology.
PROBLEMS OF THE CRYPTO MARKET
The market for crypto currencies overtime has been associated with the following problem, which include:
High volatility of the market, the crypto market is characterized by a high level of volatility as the value of a coin this minute may either increase or decrease the other minute.
Some crypto currencies cannot be used as a store of value, as a result of the high volatility of the market the purpose for which exchanges were created is defeated. In times of volatility crypto investors lose a greater portion of their portfolios.
PROBLEMS OF THE FOREX MARKET
The forex market faced the following problems, which include:
Transactions on forex platform where not transparent, the technology operated by forex platforms could not prevent against fraudulent activities. This made it unattractive for investors.
As a result of the centralized nature of the forex market, it was difficult for traders’ most especially digital investors from participating in the market.
Under these platforms, intermediaries like liquidity providers (brokers) made transactions very expensive.
SOLUTION
The FXPay platform aims at providing solutions to the problems faced by both crypto and forex traders through the use of its token FXP most especially, they include:
The platform seeks to integrate the use of blockchain technology in trading forex on the platform. With the use of FXP token which utilizes smart contracts transactions will be more transparent and secured.
It is a decentralized gateway to the world’s digital environment, forex and crypto traders likewise can utilize this platform as there are no barriers for entry.
FXP token will serve as an alternative for Fiat as a measure of stability, crypto investors can choose to convert their currencies for FXP token until the crypto market is stable.
Using FXP tokens on the platform, investors would be able to make more profit and cheaper transactions.
FXPay will act as its own liquidity provider, the platform will be able to bypass middle men resulting to cost effective transactions.
What I think
FXPay seeks to provide a decentralized digital payment solution for both crypto and forex traders using blockchain technology.
Making the FXPay decision is a path to a more secured, safe and profitable investment. You can be part of this great innovation by joining the ICO which is presently ongoing.
For further enquiries about the FXPay project and its ICO please visit the essential links below:
ESSENTIAL LINKS
Website: https://fxpay.io/
BTT: https://bitcointalk.org/index.php?topic=3851151
Bounty BTT: https://bitcointalk.org/index.php?topic=4808508.0
Whitepaper: https://fxpay.io/pdf/FXPAY_V.1.4.pdf
Facebook: https://www.facebook.com/fxpayglobal
Тelegram: https://t.me/fxpayglobal3
Twitter: https://twitter.com/fxpayglobal
Medium: https://medium.com/@fxpay
Author’s Details
Bitcointalk Username: Sorento
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=1910177