The current scenario of exchanges is riddled with various cons that have plunged the trust of centralised exchanges. This scenario is where Decentralized exchanges came into play. But the lack of any central authority, the pump and dump schemes were running amok. In spite of this, a new exchange rose to the top. Bitstraq is an innovative exchange that contains a plethora of features integrated into the exchange for creating a seamless platform for traders.
This blog will outline the cons of the problems the current exchanges face in today’s market.
Lack of proper technical approach and testing
Exchanges nowadays are not built with the aims of expanding or to support the oncoming of trade requests. To save up time and money, many exchanges often choose a simple solution. This shortcut solution may present the exchanges with various problems due to market volatility.
Lack of Accountability
The exchanges in the current scenario are short of any central governance or regulations to keep track of the trading in the exchanges. This leads to loss of accountability from the token owner or the exchange itself. Traders lose trust in exchanges when there is no credibility, to begin with.
Insecurity of Exchange
The security of exchanges is lowering their standards where they are not tested and audited by professionals. The hacking issues are growing in the exchanges when their defences are their lowest.
Lack of due diligence
Various small exchanges will add coins or tokens are added to the exchanges by paying only a small listing fee in the exchange and do not perform any due diligence in the exchange. This rises to the various scams in the market.
Lack of opening to new markets
Many people are still apprehensive about entering the virtual market. This is mainly due to the fact that people do not have full access to the USD or any other tokens. This has created a roadblock for the virtual market to open new doors to other markets.
Conclusion
Bitstraq exchange overcomes the shortcomings mentioned above through the series of fully functional features embedded in the exchange. Bitstraq has aimed to move the exchange to STE to take the trading platform to the next level. Traders can trade hasslefree.
Know more:
Website: https://bitstraq.io
Facebook : https://www.facebook.com/Bitstraq/
Twitter : https://twitter.com/bitstraq
Telegram : https://t.me/joinchat/JM0LDUqXZ5LO3kQGn_NAyw
