This yr cryptocurrency exchanges have been in the headline thanks to the IPO of Coinbase (NASDAQ:COIN), and Binance, one of the biggest and fastest-growing private exchanges.
Exchanges form a Key part of the cryptocurrency sector, much as they do in the stock market. The cryptocurrency market is generally accessed through online exchanges where traders and investors can buy or sell using deposits of fiat (paper) currency from debit or credit cards.
When the backbone ecosystem was in its infancy, purchasing bitcoin (BTC-USD) was a task. Just the truly persistent managed to transfer funds to obscure exchanges.
GBITS has powered up their flagship offering the Knightsbridge exchanges that will not only provide a crucial source of liquidity to the global cryptocurrency market, facilitating billions of dollars in trading volume on a daily basis, but will cross over in to the traditional markets, Equities, FX and many more.
This will be managed by a series of our own proprietary routing and flow management algorithms.
As the market expands, the exchange platforms will scale in response to the demand for digital and digitized assets, offering asset custody, new trading features and functionality, and access to an ever-growing number of assets all funded from turnover.
With disintermediation as a core philosophy of the blockchain community, decentralized exchanges — or DEXs — have gained in popularity alongside traditional centralized exchanges (CEXs). Decentralized exchanges take a different approach to buying and selling digital assets: They operate without an intermediary organization for clearing transactions, relying instead on self-executing smart contracts to facilitate trading. This dynamic enables instantaneous trades, often at a lower cost than on centralized crypto exchanges, our Hybred DEX/CEX will change the world of trading.
In the absence of intermediaries, DEXs take on a non-custodial framework. This means that you retain custody of your cryptocurrency and are responsible for managing your wallets and private keys. Holding your private keys is considered a boon to users who want to maintain complete control of their assets. However, this comes with the risk that your keys could get lost, stolen, or destroyed; or in the unlikely possibility that you become incapacitated or pass away suddenly, if no one knows your password, your keys can’t be accessed. We will be offering the freedom of choice on how you wish to manage your money, The lack of an intermediary also means that most DEXs have limited counterparty risk and are not required to follow Know-Your-Customer (KYC) or Anti-Money-Laundering (AML) regulatory standards, this is the regulatory danger but we have preplanned, take a look at our Six Suite of products, Smart Blockchain based KYC and AML, a paradigm shift in the industry.
Knightsbridge is aiming to be a leading global exchange/broker/counterparty within 5 years.
Today, the Top 5 crypto exchanges in order of trading volume are: Binance, Huobi Global, Coinbase, Kraken, and FTX. Each of them turns over billions of dollars in trade daily.
Exchanges in this new and relatively unregulated industry come in 2 forms: centralized exchanges (CEXs), such as Binance, where you entrust your coins and passwords to a 3rd-party company; and decentralized exchanges (DEXs) such as Pancake Swap, where there is no involvement from a central authority and users remain in full control of their private Keys and digital assets.
Have a positive weekend, Keep the Faith!