The term “Cryptocurrency” surely rings the bell, indicating Bitcoin, by far the most successful Cryptocurrency around the world. But there have been facts unknown to the public that defines the birth of Cryptocurrency, starting from Bitcoin and then many more.
Satoshi Nakamoto, the backbone of Bitcoin, however never intended to create a Cryptocurrency. The sole motive of his invention was to innovate the modes of transaction and create a peer-to-peer based decentralized cash flow system, today reputed as blockchain technology.
Now, You Might Ask What is a Cryptocurrency?
Well, as defined, Cryptocurrencies are a mode of exchange of digitized cash from one user to another. The process of exchange certainly involves numerous private and public keys but surely cuts off the steep cost of exchange to a minimalistic service charge. A fact to be cherished is these Cryptocurrencies are not at all centralized or under any particular authority, making them immune to traditional ways of government interference.
However, Crypto trading platforms have made their way in this world of transactions and are at a boom. High-end Crypto trading platform development companies are creating world-class software to cut-out the hassles and challenges involved in the procedure for the common public while indulging in the trade all around.
Challenges Faced in this World of Crypto
When it comes to trading or exchange, it is ensured that there are multiple hassles and obstacles along the way. Here we highlight some of the challenges faced by traders.
- Trading Fees: Trading fees or transactional charges is something that troubles every other man around the world. When it comes to Crypto exchange platforms, there are 2 modes of fees, one, where the trader is charged a flat percent fee for any trade, let’s say 0.2% of the whole trade. But some exchanges charge fees by 2 steps, that is maker fee and taker fee. In majority cases, maker fee is predicted higher than that of a taker fee as it increases liquidity and will surely be rewarded by the exchange.
- Credibility: Cryptocurrencies being a honeytrap for investors has surely raised the chances of scams and fraudulent all along the road. An appropriate assessment is to be run to reconfirm the credibility of a Crypto coin and its reliability altogether.
- Liquidity: Liquidity serves as a key element for various markets, actually all markets. The decrease in the liquidity directly fluctuates the demand and supply. The difference in the demand and supply creates room for price manipulation. The decrease in liquidity results in slippage of power into those hands who have firm hands-on liquified assets.
- Price Manipulation: Irregulated conducts and light hands-on regulations have opened the doors for price manipulation at every exchange. Exchanges have set up bots to manipulate prices on a timely basis that directly benefits the exchange and can operate like a scam.
- Transaction Delays: People are mostly mistaken that Cryptocurrency transactions can be helped in fizzy but there are times when this speculation is turned down. Exchanges often delay the transactions whenever in doubt of an unauthorized investor onboard. The procedure itself makes it a delay creating a room for betterment for Crypto trading platform developers.
Now for an instance, let us imagine a high-tech and sophisticated trading deck, where all the challenges are eradicated and the smooth functionality of certain tasks is guaranteed in a giffy. Well such Cryptocurrency trading platforms are published across the world on demand.
Well, a Cryptocurrency trading desk with determined features like buying, selling and trading of Bitcoin and various Cryptocurrencies for the public is yet to be seen on a frequent basis.
A single interface that incorporates the buying, selling and a trading feature known by the name ‘Algo’ is introduced here. Cutting off all the hassles and fraudulently in the world of Cryptocurrency, Algo is rising with each day passing, depending on the emergence of it.
With advantages like usage of multiple liquidity pools that will help decrease slippage all over, it has changed the challenges altogether for the common public traders around the globe. Integrating APIs of major Bitcoins through this terminal has benefitted the trading market all along with its creation. However, it also assists in managing a portfolio across various Cryptocurrency exchanges via a single platform.
Being the one-click zone to access several Crypto exchanges such as Coinbase, Bitfinex, Binance, OKEx, Poloniex, etc. Algo has also established a platform that helps you access wallets, exchanges with reporting tools and multiple exchange integration in real-time.
Now let’s highlight a few features of the world-class multiple exchanges integrated trading platform, Algo.
Features of Algo Trading Platform
- Return On Investment: You can, however, categorize your investments to view the bigger picture at all times. This helps you to efficiently manage the timely returns on your investments, which directly assists you to define as well as determine your rate of ROI.
- Algorithm-Based Trading: Cutting off the hassles of manually engaging in the functionality and the process of trading. With algorithmic trading, it has made the Crypto market an easier and better place for traders. This not only simplifies the process but also cuts out the human emotions that can manipulate your mind during trading and also makes it a work of excellence and ease for a beginner level trader.
- Industry Level Managed Trading History: With the benefit of an interactive search that will automatically align all your trades and fees accordingly. Moreover, you can also group them based on exchanges and can import via APIs without access to your exchanges required.
- Portfolio Management: Managing your Crypto portfolio can be a difficult and time consuming task, but not here, with interactive charts that explains all your Cryptos and trades that will help you identify the unrealized as well as identified gains or losses at the same time. Moreover, you can also calculate the key indicators and manage multiple Crypto portfolios with a single platform on the spot.
- Tax reporting & Auditing: Accurate calculations and analysis that will assist you to obtain real-time reports of all identified profits and losses along with the values of all assets, gains, and taxes as well.
Not only features, but benefits of the trading platform are also of vital importance and here we are to share all these with our fellow readers.
Benefits of Algo Trading Platform
- A one-stop-shop for all trading needs by the way of a single trading platform.
- Availability of real-time and accurate insights including digital assets portfolios visible on the dashboard.
- The intuitive trading interface helps you in the execution of orders directly to your respective exchange accounts.
- Compare various Crypto markets with real-time data by gaining the Market Data Report.
- Specialized systems for charting and record-keeping with detailed analytical tools.
- A one-stop portal to view your previous transactional records, balance, and history.
- Explore more and more assets and also analyze the same with technical analysis tools.
- Online and accurate access to the very own Cryptocurrency news portal about Cryptos and Blockchains.
Altogether, Algo is the trading platform of the future which not only defines the Crypto trading world. But also is determined to change the way of its functionality. Empowering the public traders and transferring the power right from the exchange’s hands to that of a public trader.
The single trading platform integrates the massive features of a full-fledged Cryptocurrency exchange and has directly shifted it into the palms of traders. Well, in a piece, it is an experience like no other and a beneficial way of Crypto trading, changing the dynamics of the same.
We at Prodygee provide an end to end solution for the Crypto and Algo Trading Platforms. Please reach us to know more about the product. Please check more about us what all the technical solutions we provide.