OnepageX - Cryptocurrency Trading and Exchange Redefine

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Back in the days when gold was adopted as a standard to measure value, there were irregularities in the process of settlements, you would hear about acts like dubbing, stealing, killing and atrocities of all kinds. There was a particular story about a boy whose only inheritance from his just deceased grandfather was a kilogram of gold. Due to ignorance of young age, the boy was unable to recognize the little-wealth under his watch, until a day after many years have passed when he saw from a radio news channel what his little shinning metal is worth.

30,000$ was the price he heard a kilogram of gold is worth from the host of the channel, which was exactly the amount in his possession. Technology was just beginning to have a ground during his time, so there wasn't much information passed around resulting to less exposure. "Let me give you $2,000 for this little toy" - the street black-market trader he met through another stranger after many search quoted him. With disgust and confusion both being experienced at the same time he quickly turned away, but he was meant to endure some tussle after agreeing to follow the man to a dark secret tunnel for the trade. Luckily he escaped the scene with his gold. After many months of connecting through people he trusted, he finnaly sold his shinning piece but parted away with about 40% of the trade worth, with commisons and tips.

Exchanging value or setting a standard for the exchange of value has been one of the major hurdle humanity struggle to break and resolve completely, but the experience and knowledge acquired through the pass of time did us great amount of good to improve on this area.

Technology continue to improve so does every of it's related niche. The critical thinking and knowledge-providing-solution of Satoshi gave birth to a new form of decentralized technology we called Blockchain. Blockchain is a joy on its own but a more bigger or should I say lesser Joy resides within the care of the technology known as cryptocurrency.

Cryptocurrency, the first of its kind "bitcoin" open up the path to possibilities that were never thought before, to believe the double spending of a digital coin would ever be resolved was a dream not to mention the distributed network feat it took to achieve this.

Blockchain technology is promising so does cryptocurrency, as exciting as these two are, they are both limited in their use. The tech is currently hold back due to it's inability to scale to enterprise grade, even for everyday use by the general users. There is also the problem of massive power consumption and that of the currently available Consensus type.

Cryptocurrency in the other hand is a risky asset to handle. Should we talk about Volatility - where you could see a 92% gain or loss within 24hours, or the complexities involved when handling and managing these digital money on and off personal wallets and exchanges.

The need to easily convert between variety of assets is particular worrying. I could vividly remember a day I wanted to purchase an online product from a merchant that accept only bitcoin, as a fan of ethereum, majority of my crypto asset are those of the ERC-20 and Ethereum itself. My desired product was time-base and there is need for me to convert my ether to bitcoin. It took 15 minutes for my ether to reflect as a deposit on the exchange and another 10mins for the converted bitcoin to land in my wallet. Luckily for me I got to purchase the product, though I almost missed out. I was willing to part with some loss and placed a market order, I didn't mind the fees also, what was important for me is getting my desired coin conversion from the exchange as quick as possible but the situation I couldn't control prevented me from seeing my wish fulfilled.
This particular factor is a pain in the bone especially to day traders who because of slow transaction speed constantly miss out on some good arbitrage trading opportunities.
How could we provide solutions that address this issue? what are the best method to do this?
But before that, let take a quick look at the current setbacks.

Just like how a kilogram of gold held by the boy was difficult to readily liquidate into hard cash, Cryptocurrencies are also facing some major challenges that is preventing it's lover to put them to the best possible use which in turn provide a very difficult means to easily present their benefits and uses to new individuals, thus preventing the fast adoption of Cryptocurrency by every user. From high transaction fee to security risk to price manipulation, Cryptocurrency trading face many challenges and a few will be explained in this post.

2.1 High transaction fee

Providing high end scalability that would propagate heavy activities such as trading in a distributed network of blockchain is an on going issue that is waiting to be resolved. Since the current decentralized system could not support high activities like this, centralized companies and organizations have taking an important role to supervise and oversee this aspect by providing the necessary platform and technology that is allowing the smooth exchange of crypto assets. centralized organization are in for the profit and since no one could challenge their principle, they are making most of this opportunity by charging ridiculously high transaction fee even for withdrawals.

2.2 Time between order execution

Taking my above mentioned personal experience for example, I placed a market order because I quickly want my order to get filled which comes as the expense of parting with some loss. A limit order would had made me wait much longer as their must be a matching sell order at my set price before my trade could be completed. This could take seconds, minutes or even hours base of the trading volume and my ask price. Since there is a massive low liquidity of assets due to the low trading volume. Traders of all kind are made to wait unnecessary for their trade to get executed.

2.3 Hassle of managing assets

Centralized exchanges are more superior than one another, so does the features they offer. This factor introduced the deposit of different crypto assets to different exchange for different use and purpose. The hassle of completing registration with different exchange is a task on it own talkless of the responsibility demand it takes to keep tab with all deposited cryptocurrency. Traders go around this by employing various bots and crypto tracking and managing tools to stay up to date with the current trend. As beneficial as this is, managing this tools also provide it's own headache.

2.4 KYC verification

This is one of the major problems preventing people to readily express their free-will in a space lauded for it's decentralization. KYC (know your customer) process can really be worrisome . Cryptocurrency exchange request for personal data you are not sure is safe with them. As a precious belonging people hardly hand it over easily without asking questions. This demand is so frustrating majority percent of exchange's customers hardly pass more than a level of verification. Even though some users may be reluctant to tender their documents, some customers are not even in the possession of such documents. Since exchange set activity access base on the level of verification, some traders are limited to fully express their capacity in the market.

2.5 Security risk

Cryptocurrency wealth is hard not to look on especially when stories like overnight riches is told to your ears. In a new and explosive market like this is it a common notion minds of all kind will be attracted to take a piece of the pie. The current technology is still below par for exchange to manage such amount of wealth kept under their watch, majority of these exchanges do not even qualify as a trading center, they are just in for the money. This weakness made them a hot spot for hackers to initiate various kinds of attacks. The period between February and May saw a very high rate of exchange hacks stealing several hundred of million dollars worth of cryptocurrencies, leaving many traders in a state of agony.

From the time of the infamous Mt.Gox hacks to this present day, centralize exchange are having a difficult time coping with the security side of their operation. Until better technologies are deployed exchanged still stand a risk of being continually exploited.

2.6 Wrong order placement by newbie.

As much as centralize exchange are the go-to for trading activities, decentralized exchanges are also being experiment with to provide a view about the future advantage they could offer, after all the space was meant to power things in a decentralized manner. The desire to realize this is present, but technology and technical knowledge required to make user interaction pleasing is currently lacking.
Decentralization in it simpler definition means to put operations of a system under the management of various entity, and in this regard 'user'. Therefore users are saddle with the responsibility of managing their assets, placing order base on their desire, which may defy the current price of the market.

Humans are mostly tested to act against the rules especially when power is within their reach. In this case, some more experience traders exploit the ignorance of newbies and set ridiculous price which normally result in a huge loss to such individuals, as they are just getting familiar with crypto decimals and trading activities.

2.7 Price manipulation

No argument! It is very obvious the whole market capitalization of cryptocurrency has increased tremendously in the past few years. Even though there has been significant price increase, this increase is regarded as miniature in the eyes of the "big moneys".
Massive regulations is greatly needed in the cryptosphere but until that arrive, the big money are making most of the current opportunities by controlling the ups and downs movements of cryptocurrency price to a certain degree. This provide a risky avenue for smaller traders to cope with as previous indicators that are relied upon for decision-making are no longer effective in their use.

2.8 Low Liquidity

The ability to easily convert between goods or commodities is very important to keep human daily exchange for values a simple process. The amount of a particular asset volume trades determines how readily these assets are easily exchanged. Cryptocurrency market is still at the early stage of adoption, it's daily trading volume is very shy of established market when compared. This provide a big barrier to quickly exchange across crypto assets especially when a big amount of such asset is involved. A reason why the market is easily manipulated and control.

2.9 The Need to register with different Exchange.

For a newbie entering the system words like private key, public key and related parameters beginning to become difficult to wrap around the head. Then you begin to be told you have to register with an exchange to convert between your assets. After going with an exchange you came realize you could do better with other exchanges, you notice the difference in fees and operations and you find yourself getting registered with more exchange than you could managed.

2.9.0 Censorship

Bitcoin mission was to liberate the masses from the different cycle of slavery by governments and centralized establishments. The financial crisis of 2008 gave an obvious view about how these entities cannot be trusted or rely upon. Satoshi's masterpiece of a decentralized system gave birth to a new hope, but this new system is deficient of many needed ingredients putting it surviver in the hand of centralized establishments it was meant to disrupt. A central authority by its definition have the right to set it's rules and own principle without being questioned, making them to command full power and dictate how user behave on the service they provide. Taking the role of exchange, they dictate how much a user could withdraw or deposit, they set boundaries on what to do and how to do it, make it mandate to acquire customers document before certain access could be enable.

Taking on the meaning of the name "OnePageX" with full extension as "One page exchange" is a simple one page interface exchange platform that enable the easy conversion between different types of cryptocurrency assets with very low fee, minimal risk and no registration.

This new method of executing trade just on a single page sounds somewhat strange. How could that even be carried out?

Trade url session: since trades are conducted without any connection to a user account, then, there must be a way to make trades unique and accountable. This is made possible by assigning a unique session to every trade which could be bookmarked, copy, saved or recovered through browser's history in the case the session was mistakenly quitted without taking the appropriate record.

Atomic swap: the bancor protocol introduced a way to tackle the liquidity problem facing cryptocurrency trades, designed and carried out by holding a reserve of a particular crypto in a contract to provide immediate execution of trade when an order to trade such crypto is placed. Although onepagex do not state this as the adopted process but it is very obvious trades are going to be carried out in this manner owning to the fact that atomic swap is one of the new method that can enable instant liquidity of trades without revealing the identity of the trader or leave any trail of the trade behind.

The advantage of using OnePageX over current exchange format is very many, in fact it is the opposite of the challenges of Cryptocurrency trading this post highlighted above.
For the sake of repetition and concise structuring, the benefits of OnePageX will take the form of a list.

• Absence of registration
• Instant liquidity
• Ease of use
• Lack of price manipulation
• Lack of censorship
• Ability to trade between different crypto type
• Good security since there is a unique session to every trade
• Staying anonymous.

Bancor protocol was a big improvement on the existing method before it. It introduce a new method by which cryptocurrency trades could be carried out instantly and easily.
This new concept of trade operation find it difficult to break free from its predecessor by featuring method that still provide some level of headache like:
• The need to register for the platform wallet to enable more advance access.
• Responsibility of managing assets in a not-so-different ways to existing pattern.
• Users need to know the know-how before they could begin trading on the platform
• Limited available crypto assets which are majorly ERC-20 tokens.

OnePageX is a game changer that is bringing about an entirely new way of conducting cryptocurrency trades with how trades would be carried out on a single page without concerns about trade limitation, account registration and assets managements.

This new method is a massive improvement over existing ways, providing many advantages over even the bancor protocol as it provides an easy solution to the challenges facing the bancor protocol listed above.

One of the most attractive features of onepagex is with the number of cryptocurrency options that would be traded on it, making the platform an easily go-to power house in the nearest future.

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An exciting medium for online business owners

Online shop and business owner can now provide a simple means for their customers to pay with cryptocurrency by integrating OnePageX on their website and sales funnel via OneBox turnkey solution.

Scenario 1

Paul is a digital marketer whose purchasing power of tools he needed for his work is high due to the passion he have for his work.
He saw a related niche product which is time-base he wanted to buy, but unfortunately the seller only accepts bitcoin, as a fan of ethereum he needed to convert some of his ether holding to bitcoin. He thought about the hassle and delay of using popular cryptocurrency exchange and decide the best thing to do is to pass on the product. Fortunately he came across OnePageX, saw it was a perfect fit for his need and quickly transfer his ether over to initiate the coin conversion. His trade was executed instantly after his deposit was confirmed. He made the transfer of the converted bitcoin to his wallet and wasted no time to purchase the product.
OnePagex saved him from missing out on his desired product. Paul live on as a happy man.

Scenario 2

Mark is a Chinese citizen who is restricted to handle and trade cryptocurrency due to his country ban on cryptocurrency. As a graduate in finance study, he is obsess with making research on latest financial tool and developments. He came across cryptocurrency and speculated he could make a fortune out of this new money by holding it for some years. Luckily he was airdropped some free ontology when he signed up for their newsletter and has some crypto in his possession, as a finance nerd, he wanted to make more money and decided the best way is to trade more crypto and hedge against price movements. But he is in need of an exchange to carry out this. He finally saw a contest held by @originalworks which focus around OnePageX. After going through the details he realize this is the solution he has been craving for. He wasted no time to play with the OnePageX interface with some little trades, he realize it is genuine he then proceed to purchase his desired amount with his held crypto. Mark can now engage with the thing he love, he is a happy guy.

Scenario 3

Esther is a crypto enthusiast who have an online shop that sells crypto merchandise. As a crypto lover she decide to only accept cryptos, but existing solutions is not to the favor of her and her customers. She is in need of a viable option. After many searches she came across OnePageX and realize the solution she needs is presented right before her eyes. She call her website developer to integrate OneBox turnkey to enable the OnePageX function and interface, her desire is finally fulfilled. She slept with full smile on this day night after seeing her wish come true.

Almost everything will become digitalized in the near future. Therefore there is need for a digital form of money. The inception of cryptocurrency is a good indicator that future is almost before us. As promising as this assets class is, it is greatly lacking some important features on it journey to massive adoption. A primary deficiency is the problem faced to buy and sell this assets.
So far, centralized exchange has taken on a prominent role by overseeing the activities of users to trade cryptocurrency.
This post highlighted why these entities cannot be relied upon and so there is need for new methods.
With the theoretical benefit and advantage a one page exchange that log no user data or require an account to access service plus the instant trading feature.
Exchange like OnePageX are greatly needed in this space to enable the everyday user to easily acquire and transact with cryptocurrency.

This is an entry to @originalworks contest

For more information about OnePageX
Visit the following:

OnePageX Website
OnePageX FAQ
OnePageX OneBox
OnePageX Twitter
OnePageX Medium
OnePageX Steemit
OnePageX Telegram

Here is a youtube video from @heiditravels showing how atomic swap works

OnePageX 2018