A simple Google search of the term ‘Cryptocurrency trading’ yields more than 25 million results. This is a sure indication that the subject of cryptocurrency continues to hit the market with a resounding splash, nearly ten years after its invention. However, despite all of the enthusiasms, Crypto exchanges have emerged the tool to profit from crypto asset ownership but they are far from being without their pitfalls. The exchanges, as a centralised point of sale, do not fit well with the idea of a decentralised financial system: they are a single point of failure, but this is not the only issue.
High Fees
The exchange commissions associated with trading of cryptocurrencies typically are in 0.1%-0.25% range per transaction, which are 10 to 25 basis points. The effective fees of transactions are much higher when taken into spreads and bids maintained by the exchanges.
There is generally no central regulator or authority for examining internal exchange orders that systematically separates customer activity from proprietary activity, which can ensure fair pricing.
Pending Transaction
Another common problem in cryptocurrency trading, delays are present in nearly all transactions. Most crypto platforms are slow—from opening a trade to making deposits or withdrawals. In various chains, it takes forever to complete a transaction, which is a setback on the part of the investor.
Experts identify scalability issues as the main cause of transaction delays on most crypto trading platforms. As many users join the blockchain, the queue gets longer and more transactions get stuck in the queue awaiting approval. Besides, based on the volatility of the market, such delays can be quite costly for investors. Many traders miss viable trading opportunities simply because a transaction did not go through on time.
Hackers and Cyber-Attacks
The potential for a crippling attack directed at cryptocurrency exchanges remains real. There have been significant attacks on exchanges before. For example, in 2014, Mt. Gox announced that approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen, at today’s value, that would be $7.2 billion. Mt. Gox never recovered from the attack and filed for bankruptcy. Other major Exchanges like Bitfinex remain under threat, which is a security concern, too.
Bitcoin is also threatened by Distributed Denial of Service (DDoS) attacks. A report by Imperva indicated that Bitcoin Exchanges had become favorites for DDoS attacks. The frequency is increasing, with Bitfinex, one of the largest exchanges, reporting that it had faced repeated DDoS attacks towards the end of 2017.
Let me introduces you to Cointroops, found online at https://www.cointroops.com/. A P2P decentralized cryptocurency exchange addresses to solve those problems above. Cointroops aims to make cryptocurrency trading market easier, safer, private, and cheaper for the cryptocurrency market consumers. Cointroops is a secured Escrow service platform allowing its users to carry out transactions securely. The Cointroops business model is built to enable users to easily buy, sell or exchange cryptocurrency without intermediaries.
Cointroops cryptocurrency exchange will provides numerous features and benefits, incude in:
- INSTANTLY ACCESSIBLE: Cointroops doesn’t force you to verify your identity (KYC) with a central authority.
- DECENTRALIZED: There is no single point of failure in the Cointroops system. The system is peer-to-peer, and trading cannot be stopped or censored.
- SAFE: Cointroops never holds your funds. It uses a secured escrow service to protect traders.
- PRIVATE: The only people who exchange personally identifying data are trading partners. Cointroops doesn’t hold onto your private information.
- SECURE: Cointroops' communications are encrypted from end to end.
- EASY: Cointroops takes usability seriously, and has designed their UI to be easy for anyone to use–even if you’re new to the world of cryptocurrency trading.
Another main feature of Cointroops is the platform does not take the security of its platform lightly. It already has implemented multi security level platform, that include in:
- Anti-DDoS by Cloudfare. Cloudflare's network capacity is 15x bigger than the largest DDoS attack ever recorded. With 15 Tbps of capacity, it can can handle any modern distributed attack, including those targeting DNS infrastructure. With every new property, Cloudflare's network becomes smarter. Cloudflare's IP reputation database identifies and blocks new and evolving threats across all 7 million properties on the network.
- Secure Sockets Layer (SSL). Secure Sockets Layer is the standard security technology for establishing an encrypted link between a web server and a browser. This link ensures that all data passed between the web server and browsers remain private and integral.
- Premium DNS. Premium domain name servers provides the best SLA including 100% uptime, faster lookup speeds, increased security, more room for personalize DNS configuration.
- Cloud Server. Cloud-based services quick data recovery for all kinds of emergency scenarios' from natural disasters to power outage.
The company also will utilize the CTP token. CTP token has a particular рurроѕе whісh is to fuеl the platform ecosystem. CTP Token can be used to off set the transaction fee at a 50% discounted rate, just like Binance and its BNB token. That creates the demand for CTP token.
For more information about Cointroops and its CTP token, you can visit online at https://www.cointroops.com/ or visit the company whitepaper available at https://cointroops.com/whitepaper.pdf
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