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. Dea...