Cryptocurrency exchange is always considered as the top position of the food chain in the cryptocurrency industry. Cryptocurrency exchange not only has the function to trade cryptocurrency, but also is the fist place for people to store their cryptocurrency. Meanwhile, as a channel to link users with digital assets, the security of the exchange is very important.
With the rising price of Bitcoin, the cryptocurrency market is becoming more active. Along with that, more and more new cryptocurrency exchanges start to emerge in the market.
However, many exchanges have no their own features but copy the operation of the most popular ones. Assets safety and user activeness are two most important factors for the exchanges. Assets safety includes the security of users’ crypto assets and the safety of project development.
Those are very important for Bitfliex as well. Bitfliex has a ‘circuit breaker’ function to secure the safety of users‘ assets, meanwhile each exchange node will act as a project auditing team to be responsible for the projects it recommends. If any projects undergoes any accident, the nodes of Bitfliex who recommend it will lose their nodes’ qualifications.
In addition, the activeness of users is a problem that each exchange has to face. Bitfliex stated that they will use “light KYC“ to reduce the difficulty in new user registration so as to provide more convenience user experience. ILO is alse another tool for them to improve the activeness of users. Eurasia is Bitfliex’s most important market and Bitfliex will also put most effects into the market to build the reputation of exchanges.
Bitfliex has signed a memorandum of cooperation with Blockben, a blockchain company headquatering Hungary. BNO is a gold based stable currency issued by Blockben, which can provide Bitfliex’s global users with Euro accounts that under European supervision requirements.
With its unique innovations, Bitfliex will provide its users with more secure, efficient and smart trading services. High quality blockchain assets will be selected to provide first-class security assurance by using decentralized self-organizing form, to build a leading exchange platform in Eurasia. Bitfliex is going to open registration and online trading function in this September.
The competition in the cryptocurrency exchange market just starts. Even those most popular exchanges do not have absolutely competitive advantages, therefore, it is the opportunity for Bitfliex.