The cryptocurrency market had a phenomenal 2017, with the combined market cap of all cryptocurrencies hitting a record high of 266 billion USD as of December 26th, 2017. While the industry continues to grow, there are still a lot of questions surrounding this new asset class. Chief among these is: what is the best place to trade?
The answer is simple: as the market becomes more mainstream, more people will look to trade cryptocurrencies, and therefore the venue that handles the most transactions will become the “go-to” choice for traders.
However, just because the most popular crypto exchange is a good place to trade doesn't mean that it's the best place. There are alternatives out there that provide better value for traders. One popular choice is bityx exchange. Let's take a quick look at why.
The History Of BitYX
Bityx exchange, sometimes referred to as BitYX, was originally founded in 2014 and began operations in early 2015. The company is headquartered in Bangkok, Thailand, with operational offices in London and Hong Kong. In September 2017, the company announced that it had raised $16 million in an Initial Coin Offering (ICO), which began trade at the end of October 2017. The ICO offered users 200 billion yen (about 174 million USD) in cryptocurrency, with the option to purchase more than 100 other digital assets via the bityx exchange.
The bityx exchange team claims to have performed extensive research into the best methods of providing fair value for customers while minimizing the effects of wash trading on the overall cryptocurrency market. Through these research papers, the team endeavored to demonstrate that their methods were superior to those used by other cryptocurrency exchanges. They also claim that their dedication to research and innovation makes them better positioned to address the needs of their customers. Furthermore, the bityx exchange team states that they are committed to providing secure, sustainable, and stable value for customers.
Features
One of the distinguishing factors of the bityx exchange is that it provides a full set of features for customers. In addition to providing a secure and reliable place to trade, the company also offers several other services to customers, including a margin trading platform, an API (application programming interface), and a multi-wallet.
One of the unique selling points of the bityx exchange is that it provides individuals with more control over their funds. Customers have full access to their funds at all times, and the company will not engage in third-party exchange transactions. This way, customers know exactly where their funds are at all times and can make trade decisions accordingly. Additionally, the company operates with top tier security and offers customers a top notch customer experience.
Community-Based Platform
Another important consideration for potential cryptocurrency investors is the community-based aspect of the platform. One unique feature of the bityx exchange is that it is a community-driven platform. The community plays a critical role in the platform's development, and a lot of the decisions are based on their feedback. For example, the community helped to make the decision to allow users to store their coins in a wallet other than the default hardware wallet offered by the platform. This decision was made in light of customer feedback that storing coins in a hardware wallet sometimes leads to unauthorized access to their funds. So instead of storing their coins on a hardware wallet alone, customers can now use a Mycelium wallet or, for those who prefer a more traditional wallet, they can use an offline wallet.
Where To Buy And How Much To Buy
When thinking about where to buy and how much to buy, it's important to keep in mind the overall state of the cryptocurrency market. Currently, most cryptocurrencies are in a state of decline, especially since the record highs of mid-2017. So if you're looking to enter the market at this point, you're better off waiting for a special offer or the occasional promo code from a platform that you trust.
On the subject of prices and amounts, the bityx exchange provides a quick and easy way to figure out the current price of any selected cryptocurrency. Additionally, customers have the option of fiat on-to-crypto trading, and all prices shown are in crypto. The exchange also provides several helpful charts that illustrate the overall trend for the market, so investors can easily follow the market's performance.
Thailand Is An Important Country
It's important to keep in mind that Thailand is an important country in the Southeast Asia region. The country has a very high gross domestic product (GDP), and a lot of its inhabitants are highly technologically adept. This makes Thailand a potential hub for cryptocurrency trading and other forms of online commerce. The question is: will the government will allow this industry to blossom? Will they provide the environment that favors the growth of innovative technologies and digital currencies? Or will they attempt to shut this industry down? Time will tell, but for now, Thailand is yet another crypto-friendly country that can be added to the list.
Additional Considerations
While we've discussed a bunch of the important things to consider before purchasing cryptocurrency, there are a few more points to note. First, always make sure that you are not being tricked by scammers. There are a lot of worthless cryptocurrencies out there, and it's crucial to be careful about which ones you are buying. Furthermore, it's important to keep in mind that every cryptocurrency is unique and has its own strengths and weaknesses. So even though all cryptocurrencies are generally accepted as equal, this does not mean that you will get the same value for every coin. Finally, the above discussion has mainly focused on the short-term behavior of cryptocurrencies. Many investors have a long-term perspective and look at the overall health of the market, not just the short-term trends.
If you're looking for a reliable and secure platform to buy cryptocurrencies, you can't go wrong with bityx exchange. Not only does it offer a full set of features and is open to US investors, but it also takes the "burden" out of research. Instead, the platform automatically does the research for you and provides you with all the vital information you need to make the right decision. If you're looking to enter the market at this point, you're better off waiting for a special offer or the occasional promo code from a platform that you trust.