Finxflo: An Innovative Solution to Cryptocurrency Trading
In over a decade, bitcoin has created a market that now consists of more than 5000 cryptocurrencies. Buying or selling cryptocurrencies, using traditional finance tools, has started to gain mainstream adoption. Moreover, the interest in cryptocurrency trading and investments is growing with institutional investors keen on including digital assets as a part of their investment portfolio. Even countries across the globe have started defining legal regulations pertaining to digital assets.
Finxflo has bought an innovative solution to trade cryptocurrency without having to shuffle through multiple cryptocurrency trading websites. In this article, we explore the inefficiencies of trading cryptocurrencies through multiple exchanges and the solutions that Finxflo offers to enable an optimum online trading experience.
Inefficiencies In Cryptocurrency Markets
With a rise in the activity of cryptocurrency trading, supportive infrastructure in the form of cryptocurrency exchanges and wallets has developed at a rapid rate in recent times. While services to manage and exchange cryptocurrencies have developed at a staggering rate, there is a lack of proper structure to optimize trading in crypto markets. Traders face a number of challenges that cause friction in different aspects of managing cryptocurrencies.
Some of these inefficiencies are:
- Disparate Prices — Cryptocurrency prices vary across different platforms depending upon the supply and demand. Traders have to either shift between multiple platforms or compromise by paying higher fees on any particular exchange.
- Managing Cryptocurrencies — With more than 5000 cryptocurrencies in the market, there lacks a consolidated platform to manage and store crypto. Moreover, a trader needs to manage multiple wallets that are used to store cryptocurrencies.
- Unregulated — Although cryptocurrency markets are gaining mainstream adoption, there are concerns about the regulation of entities or exchanges. Dealing with unregulated exchanges can cause a trader to lose their coins or become a victim of unethical practices.
- Multiple Accounts — In order to trade across different exchanges, a trader subsequently needs to maintain multiple accounts. This further means repeated processes of going through the KYC process and setting up the account along with managing them on a separate basis.
- Security — One of the primary concerns while dealing with cryptocurrency exchanges lies in the security of a trader’s cryptocurrency funds. In case if proper security and custodian measures are not in place, it can lead to disastrous consequences.
Finxflo: A Global Cryptocurrency Brokerage Platform
In order to curb such concerns and optimize a user’s experience in cryptocurrency trading, Finxflo, a Singapore-based cryptocurrency platform has developed a unique solution. Finxflo, designed by a leading and experienced team of experts in fields of finance, law, and tech, is an advanced tool for cryptocurrency markets.
Finxflo is a global brokerage platform designed to aggregate cryptocurrency prices from the world’s leading exchanges. It further offers its users the optimum price to buy and sell any cryptocurrency in the market at any given point in time. It also enables users to build a diversified portfolio and trade and manage their coins under a consolidated platform.
Finxflo eliminates market distortions that exist in the cryptocurrency industry today and provides all the similar tools for retail and institutional investors to trade in all cryptocurrencies.
One wallet, One KYC, 25 Exchanges to trade
Some of the unique solutions provided by Finxflo to create a seamless experience in cryptocurrency exchange includes:
- Aggregating Prices- Finxflo offers the optimum buy/ sell price by aggregating the price of a coin from 25 exchanges. This further ensures that a Finxflo user receives the best price available on the market without navigating between multiple exchanges at the same time.
- One Wallet- Finxflo facilitates managing your cryptocurrencies by only using one wallet. A user can store multiple cryptocurrencies under one platform and avoid the hassle of managing private keys to each wallet individually.
- Regulated- Finxflo ensures an equivalent balance between providing a regulated trading environment along with aggregating multiple pools of liquidity. This further protects its users from any unfair accidents.
- One Account- A user can transparent and effectively trade from one Finxflo account. Instead of going through multiple procedures of KYC verification, a user only needs to complete the verification once on Finxflo.
- Security- To create a secure and seamless experience in cryptocurrency trading, Finxflo provides end-to-end encryption methods along with advanced security protocols to all its users.
- Custodian Services- To ensure maximum protection of a user’s funds, the brokerage platform has partnered with Fireblocks to ensure that the digital currencies remain completely insured.
Finxflo’s Advanced Solutions For Cryptocurrency Trading
In addition to all the features discussed above, Finxflo adds many other innovative solutions catering to institutional as well as retail traders. The Finxflo’s smart order routing system innovation enables large orders to be distributed across multiple exchanges simultaneously. This helps institutional investors buy or sell cryptocurrency at the best price available.
Finxflo also caters to retail traders by offering preferential fees, usually available only to institutional traders. By introducing no withdrawal fees and low trading fees, it has managed to create an inclusive solution for all types of traders.
Aggregating multiple exchanges further enables Finxflo to access greater market depth and offer higher liquidity to traders. Through one unitary portal, traders can maintain a consolidated order book instead of navigating between multiple exchanges.
The leading crypto platform also encompasses advanced tools like dark pools that allow traders with bigger positions to move in/out of trades without revealing their interests. Although this function is available at many exchanges, it usually comes with additional fees. At Finxflo, traders can access these innovative tools without any additional fees.
The FXF Ecosystem
FXF is the native token, the fuel, of the Finxflo ecosystem. It is a utility token that grants access to products and services of the Finxflo trading platform. The token is one of the instruments along with the option of traditional coins to pay fees for cryptocurrency transactions conducted on Finxflo. Post-2021, FXF tokens will be the only option for traders to pay their transaction fees.
Additionally, the FXF token also carries incentives by offering lower fees while performing transactions on the Finxflo crypto platform. Trading fees will further be reduced depending upon the amount of tokens held in a user’s wallet.
Initial Coin Offering(ICO)
FXF tokens are available through public ICO sale commencing on the 15th of July 2020. This will last for a duration of 6 months and will end on 31st December 2020. In this ICO sale, 50% of FXF tokens will be allocated. This enables Finxflo to gain wider community input and further incorporate the feedback into building a stronger user-centric product.