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Crypto Platform Unveils 4-Step Plan to Tackle Pain Points in Trading

An aggregated liquidity platform says enhanced payment channels, brokerage tools and services for professional traders are vital for the crypto industry to thrive.

An aggregated liquidity platform says it has identified four key directions for the future of crypto that will address the current points of pain in blockchain trading.

BitCloud says it aims to deliver a “closed loop ecosystem” that fully embraces fiat trading as an integral part of the new digital economy. Unlike other platforms that struggle to support such channels in a compliant, regulated way, the company says it is determined to deliver fiat trading capabilities that give Visa and Mastercard owners as much freedom as consumers who have fully embraced Bitcoin and Ethereum.

The company also claims that the crypto industry has reached a saturation point in which there are simply too many exchanges and an overwhelming number of trading pairs. BitCloud says it has sought to remedy this by integrating the order books of several high-profile crypto exchanges — delivering greater trading depth and injecting higher levels of liquidity into the whole trading process.

Elsewhere in its manifesto for the future, BitCloud says it wants to help institutions and so-called “Bitcoin Whales” access advanced features that enable them to place trades as they wish, without suffering heightened transaction costs. According to the company, its algorithmic trading technology has unlocked the possibility for so-called “iceberg orders,” in which larger movements of cryptocurrency can be divided into smaller transactions — reducing the likelihood of sudden price movements that stem from dramatic changes in the supply of a digital currency.

BitCloud also predicts that cryptocurrencies and other digital assets are going to become increasingly mainstream as greater numbers of index funds enter the market. The platform has a vision of “building a bridge of trust” by enabling the public to entrust the management of their assets with reliable institutions.

BitCloud is available here

From chaos to stability

According to BitCloud, the platform’s emphasis has rested firmly on being user friendly and eliminating the uncertainty that everyday consumers experience when they are trying to find suitable trading platforms. The team say its motivation is to deliver a product that always sees things from the users’ perspective, to help the public become comfortable with what this technology has to offer, and to become “an indispensable product in the blockchain game.”

The first version of BitCloud Pro made its debut on Android and iOS platforms back in June 2018. Looking ahead, the company has bold ambitions of delivering a variety of legal channels by which users can effortlessly exchange between fiat and digital currencies — coupled with a Visa card with which crypto can be deposited and withdrawn anytime. It is hoped that such technology would also offer major advantages for those who need to execute cross-border payments in real time.

An emphasis is also being placed on guaranteeing that crypto enthusiasts have all of the intelligence and tools they need to make informed decisions, the team notes. To this end, BitCloud says it has been working on an expert advisor driven by artificial intelligence that can plunder past transaction data in order to deliver “cutting-edge” algorithms and strategies that will help users to achieve their goals.

Looking ahead, BitCloud is planning to release its co-branded Visa card in the third quarter of this year, as well as starting to accept deposits from credit cards. Plans are also in place to launch a membership system for BPRO, the platform’s token, by the end of 2019.

BPRO was recently listed on two new exchanges, and the company says it has enjoyed a surge in support for its platform, recently surpassing more than 100,000 users following the launch of its smart trading features.

Learn more about BitCloud

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Where Have All the Augur Users Gone?

The day Augur launched it breezed into the rankings of top ethereum dapps by daily active users – but the momentum didn’t last long.

Released on July 10, Augur allows users to create and bet on prediction markets tied to real-world events, such as World Cup games, elections and – unfortunately – murders. Having waited three years for Augur to be developed and tested, users rushed to try it out, briefly pushing it past the most famous dapp, CryptoKitties, in terms of users. It’s worth noting that dapp userbases are uniformly tiny, though, with Augur and CryptoKitties each boasting around 300 users on the day in question.

Over the following weeks, however, Augur has shed users and slipped in the rankings.

At the time of writing, it’s had 66 users over the past 24 hours, putting it in an uninspiring 22nd place, according to data provider DappRadar.

The dwindling userbase has also raised some uncomfortable questions about the valuation of Augur’s native REP tokens, which are used to create markets and challenge reported outcomes (bets are placed and paid out in ether).

“I like Augur and what it represents,” Edan Yago, founder and CEO of the bitcoin-focused software company Epiphyte, tweeted. “BUT,” he continued:

“The protocol is valued at $308 million and has 64 daily users. That’s $4.8 million per user.”

It’s up for debate how useful that metric is (the valuation could reflect expectations of future user growth, or not be directly connected to users at all), but the Augur community plainly has user numbers on its mind. The project’s Discord forum was mulling the topic at the time of writing, and the question of whether Augur has “failed” was broached at least once.

Joey Krug, the project’s co-founder, put on a brave face, telling CoinDesk he’s “not super concerned” about user numbers “as long as markets are getting resolved correctly.”

He cited short-term factors that could have fed the decline, including the end of the World Cup (which dominated betting volumes early on) and the fact that user experience is still clunky.

“I imagine lots of people tried it and decided they’d come back in six months to a year when it’s more mature,” Krug said.

The liquidity problem

However, Ryan Berckmans, co-founder of Predictions.Global, a site that displays Augur markets and data, thinks the issue goes deeper than UX or FIFA’s schedule.

“Pretty much no one is using Augur,” he said bluntly, continuing: “A big reason why is it’s difficult to find markets with liquidity.”

To illustrate what he means, Berckmans compared markets to grocery stores. Customers go shopping at a grocery store because they expect to find shelves full of food. Grocery stores, in turn, stock their shelves with food because they expect shoppers to come buy it. If one or the other is missing, the store is no good to anyone.

It’s the age-old “chicken-and-egg problem,” he said.

As a first step towards solving that problem, Predictions.Global has rolled out a new feature, which lets users sort through open Augur markets by liquidity.

“Traders will be able to discover a short list of desirable markets to trade in,” Berckmans told CoinDesk, which may encourage trading and boost liquidity.

According to the feature – which is based on a closed-sourced algorithm – 33 open Augur prediction markets currently have at least 10 ether in liquidity and four have at least 250 ether in liquidity (the exact liquidity figures for each market are not shown).

The most liquid market at the time of writing deals with the price of ether at the end of the year:

Whatever the current trends in user numbers, Augur has been live for less than a month, and Krug, for one, is willing to be patient.

“I think it’ll be a two-to-three-year process before this is usable from an average user standpoint,” he told CoinDesk.

Desert image via Unsplash

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Litecoin Demand and Price set to Grow? Here Comes South Korea’s Market

Second Largest virtual currency exchange in South Korea – Coinone, which is only following Bithumb by trading volume, and second largest in the world has made LTC trading possible.

Within 24 hours since its integration of Litecoin, Coinone has processed $3.4 million worth of Litecoin-to-Korean won trades, becoming the ninth largest Litecoin exchange in the market.

litecoin world

The market from the particular country is very asset-vital for fifth in the row by market capitalization as Bithumb delivers 25 percent of the global-LTC-trading per daily. That part concludes with $38.2 million worth of LTC-KRW trades being paired in Bithumb which is double the volume of GDAX.

Listing of cryptocurrencies by Bithumb and other South Korean exchanges is crucial for leading cryptocurrencies because the integration of South Korean trading platforms offer immediate liquidity to a rapidly growing market.

“Bithumb has been an important factor in the rapid growth rate of Bitcoin Cash. As the second largest cryptocurrency exchange in the world behind Bitfinex, the integration of Bithumb provides significant liquidity to a cryptocurrency. The importance of the integration of Bithumb has recently been demonstrated by Qtum. Within five days of integrating Qtum, Bithumb became the largest Qtum exchange market with around 51 percent in market share,” read a CCN report.

A major offline exchange platform runs by Coinone which is very important to be appreciated and acknowledged as it aims retail trader, high profile investors and institutional investors in the financial industy and community. In an interview with News1, a South Korean business news publication, a 53-year-old investor stated:

“Due to the emergence of physical cryptocurrency exchanges and offline customer service operations launched by CoinoneBlocks and Bithumb, many investors in South Korea are rushing to sell their stocks and equity in public companies to invest in cryptocurrencies such as bitcoin. Since the beginning of 2017, the demand for bitcoin has increased significantly and investors have been able to build trust over the cryptocurrency exchange market through offline exchanges.”

As a adding to its liquidity, the Coinone movement towards Litecoin will prove its advantageous on the long-term ‘expansion’ of Litecoin keeping in mind that a high percentage of traditional traders and investors from the financing industry feel support on Bithumb and Coinone Blocks offline exchanges for large sum of capital in LTC.

Over the past year, Litecoin has demonstrated a rapid growth rate, particularly after Coinbase executive Charlie Lee’s resignation from the company to solely focus on the development of Litecoin