INTRODUCTION
Cryptocurrency as a marketplace has shown tremendous growth, increase in value, adoption by Individuals, public, private establishments, amongst others. Due to the interesting growth chart, beyond reasonable doubt, it is a platform worthy of your investment. Interestingly, the crypto market also has it cons, what makes it better or unheard of is the solution the cryptocurrency project being introduced provides for these challenges before it is launched into the world.
Challenges Faced in the Crypto Market
Complex nature
With the recent Covid19 unfoldings in the world, the economy and market evolvement, in the world, crypto played a huge role in the financial sphere. The number of banks that have adopted the use of Cryptocurrency in their strategy for long-term development have been increasing since customers have migrated to crypto as a channel of reducing the disadvantages of conventional banking and the requirement of nonphysical/contactless service operation.
The conventional market however, keeps on dashing customers expectations thus, finaings made showed customers desire an all-inclusive solution platform that gives them the leverage of executing their entire financial services, functions and investments without going through the hassle of creating multiple accounts on various platforms. Advanced markets was not recognized as the only place that needed a whole, simple to operate system but, upcoming (emerging) marketplaces like Africa too here, the limitations of the. banking sector is critical and customers sought out means to solve this challenge via crypto. In addition to these, high charges, slow/poor network and no platform characters yields in restricted flexibility.
Low Liquidity
The marketplace shows reduced/low liquidity meaning the market is unstable and susceptible to huge swings (volatile). This feature translates to every trade carried out by experts and beginners alike thus, resulting in huge slippages usually very costly for the users. A lot of exchange platforms with minute turnover from trading operations and insufficient liquidity are placed at risk of not having a competitive edge and no longer having the loyalty of their customers.
Insecurity
Fraudulent activities, hacking, and manipulative ventures take place frequently in Cryptocurrency world due to the limited measures taken towards security. This insecure feature is quite risky and has great consequences for the service givers and customers alike.
Terrible experience by users
Competition is the order of the day in our markets and any unattractive, low quality platform or phone application experience is a huge disadvantage for the business then customers. The launching of cryptocurrency platforms and projects on a daily makes the marketplace well saturated and the amount of unfriendly-user platforms also increases such as; lose of funds, freezing, slow or no response from platform and incomplete transaction.
Kyrrex Solution:- Through the ecosystem, every restriction, and barrier is removed to accomplish the customers demand in a fixed place.
The issue of security has been taken seriously by Kyrrex to meet the maximum standard in the industry via a hybrid of encrypted cryptographic means.
CONCLUSION
Studying the existing market to enhance yours, is an advantage of online marketplace, projets, etc. Success is guaranteed when you use the mistakes of others to rise.
USEFUL LINKS
Website: https://kyrrex.com/
Telegram: https://t.me/kyrrex_official_en
Linkedin: https://www.linkedin.com/company/kyrrex
Reddit: https://www.reddit.com/r/kyrrex/
Facebook: https://www.facebook.com/kyrrexcom/
Instagram: https://www.instagram.com/kyrrexexchange/
Twitter: https://twitter.com/Kyrrexcom
AUTHORS DETAILS
Bitcointalk Username: Gadile
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2848249
Proof of Authentication: https://bitcointalk.org/index.php?topic=5371160.msg58557965#msg58557965