o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

Crypto Startup Uses Surveys to Build Exchange Based on ‘Emotions and Thoughts’ of Traders

Posted on November 30, 2018 by nbelov

sponsored

A new crypto exchange is being built based on the emotions and thoughts of traders – using detailed survey results to create a service unlike any other.

A new crypto exchange says it offers “bells and whistles” compared with rivals – and argues that most of the market leaders are failing to provide investors with the technical analysis tools they need to make informed decisions.

In a break away from confusing user interfaces, Encrybit wants to help traders that it says have been pushed to use third-party software because exchanges have let them down. It claims many crypto enthusiasts have no choice but navigate between multiple exchanges – remembering seemingly endless passwords and withdrawals fee in order to access the broad range of cryptocurrencies they want to trade.

In addition to software that makes trading “enjoyable, engaging and profitable,” the startup plans to provide “a fantastic informative and learning section” enabling people of all backgrounds to discover more about how the market works.

“A new generation of crypto exchanges”

Encrybit’s white paper sets out a plethora of features that its exchange intends to offer. Along with thorough profit and loss reporting, smart alerts and an extensive range of technical analysis tools, the startup wants to open its doors to emerging markets by offering multilingual support and dedicated customer representation. In order to boost trader confidence, it will also offer a demo trading platform where users can simulate their strategies, along with incisive news updates and market research.

Smart alerts will enable traders to receive notifications whenever prices hit a certain level, with information sent via email and through apps. Meanwhile, social trading will enable users to follow the strategies of others on the platform. Although Encrybit will initially be available in English, the startup plans to slowly adapt by launching in other languages – with Chinese, Japanese, Korean, Russian, French and Italian listed as business priorities. Support for further languages is going to be rolled out based on demand and user numbers, with regional support teams recruited in areas where there is the most growth.

The company also argues that some of the exchanges that dominate the industry lack respect for their user base because their policies lack transparency. Encrybit plans to remedy this by offering clear policies surrounding airdrops, coin listings, withdrawals and distribution.

Unlike other exchanges, Encrybit says it has made an extensive effort to learn more about what crypto enthusiasts need and expect from exchanges. In a survey online, it discovered that the biggest concerns for investors include security, high trading fees, a lack of liquidity and inadequate crypto pairs.

The firm says this intelligence “merges the emotions and thoughts of cryptocurrency traders,” and has been used extensively in research by other projects.

“War of competition”

Encrybit says that one of its main motivations is creating a “war of competition” among traditional exchanges – encouraging all of them to improve the service they offer. The company behind the startup is M-Connect Solutions, which provides AI solutions along with blockchain development, data analytics and cloud services.

The exchange has a native token known as ENCX, and says this digital currency will enable crypto traders to reduce trading fees by 50 percent. In order to give back to the community, Encrybit also plans to hold a lottery every three months where 10 percent of the revenue generated on the platform is distributed between 1,000 token holders.

Towards the middle of 2019, Encrybit plans to begin registration for coin listings – and its exchange will open in beta. By the third quarter of the year the platform will be launched, with features including social trading, a trailing stop loss and multi-charts to follow. Exchange will go live in Q3 2019

A private sale concludes on Dec 14, with a presale beginning one day later. This will end on 31 Jan, with a public sale taking place from Feb 1 to March 31.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • 'Code is not law': Seth Green thief stole Bored Apes, not the rights say experts May 25, 2022
  • Cornucopias: A Revolutionary Cardano Blockchain Project That Is Redefining the Gaming Metaverse Industry – Press release Bitcoin News – Bitcoin News May 25, 2022
  • FinTech Blockchain Market to have a Stout Growth in the Near Future – Ripple, Guardtime, Cambridge Blockchain, AWS, Applied Blockchain, etc – The Daily Vale – The Daily Vale May 25, 2022
  • WeWork founder reinvents himself with $70M crypto carbon credit platform May 25, 2022
  • Blockchain in Pharma Supply Chain Market | Company Challenges And Essential Success Factors |IBM, AWS, Microsoft, SAP, Chronicled, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain Distributed Ledger Technology Market to have a Stout Growth in the Near Future – Digital Asset Holdings, Capgemini, Accenture, Block chain Tech Ltd, Ethereum, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain in Digital Rights Management DRM Market Size And Forecast | Sony, Binded.Inc, Custos Media Technologies, Scenarex, Publica, Mediachain, Pixsy, Gilgamesh, RecordsKeeper – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain for Land Registry And Asset Tracking Market Size And Forecast | Accenture, Factom, BlockVerify, Applied Blockchain, Digital Asset, Bitfury, Guardtime, Deloitte, ChromaWay, Gemalto – The Daily Vale – The Daily Vale May 25, 2022
  • What Are Web 3.0 Enabled Blockchain Esops And How Are They Different From Regular Esops? – Outlook India May 25, 2022
  • Blockchain in Education Market Size And Forecast | Blockcerts, DISCIPLINA, Gilgamesh, IBM, Learning Machine, LiveEdu, odem.io, Open Source University, Oracle, RecordsKeeper – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain Distributed Ledger Technology (DLT) Market Size And Forecast | Chain Inc., IBM, Accenture, Monax Industries, Intel, Deloitte, Earthport, Microsoft Azure, Digital Asset Holdings – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain-as-a-Service Market 2022 Competitive Expectations with Industry Players – Infosys, SAP, Cognizant, IBM corporation, Amazon, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain in Logistics Market 2022 Competitive Expectations with Industry Players – SAP, Oracle, Microsoft, Amazon, Maersk, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Uniswap breaks $1T in volume — but has only been used by 3.9M addresses May 25, 2022
  • Could GameFi and carbon currencies reverse blockchain's climate stigma? May 25, 2022
  • CryptoSat’s first nanosatellite blasts off Wednesday on SpaceX rocket May 25, 2022
  • New Luna 2.0 blockchain will not be a fork of Luna Classic – CryptoSlate May 25, 2022
  • Sam Bankman-Fried could spend up to $1B in 2024 to thwart Trump comeback May 25, 2022
  • Crypto, blockchain and NFT firms are bailing out Hong Kong office property segment – South China Morning Post May 25, 2022
  • BSV Global Blockchain Convention Opens With Impactful Speech – Benzinga – Benzinga May 25, 2022
  • ShareRing, A Digital Identity Blockchain Ecosystem, Announces SHR Token Swaps From BNB Smart Chain To – Crowdfund Insider May 24, 2022
  • Low inflation or bust: Analysts say the Fed has no choice but to continue raising rates May 24, 2022
  • All Eyes on Digital Assets EO for Crypto, Blockchain Policy Turns – MeriTalk May 24, 2022
  • Blockchain and Metaverse Legal Issues for the Government and Government Contractors – JD Supra May 24, 2022
  • ECB: One in ten households in eurozone population centers now own cryptocurrency May 24, 2022
  • Weak stocks and declining DeFi use continue to weigh on Ethereum price May 24, 2022
  • WEF 2022: Web3 no longer just about crypto and DeFi, says Polkadot founder Gavin Wood May 24, 2022
  • Sortium Blockchain Studio Retains Rubenstein Public Relations as Agency of Record – 69News WFMZ-TV May 24, 2022
  • Billionaire Ray Dalio Speaks in Davos — Says 'Blockchain Is Great, but Let's Call It Digital Gold' – Bitcoin News – Bitcoin News May 24, 2022
  • Mercado Bitcoin partners with Stellar to create MVP for Brazilian CBDC May 24, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com