First Hybrid Digital Assets Exchange Quirrex to Bring Cryptocurrency Trading to the Next Level
| Updated by Polina Chernykh · 3 min read
With a new cryptocurrency trading platform, Quirrex wants to solve the issues of current cryptoexchanges, including lack of transparency and risk of hacks.
Following the internet 2.0 revolution, the cryptocurrency trading niche is undergoing similar changes now. Wishing to exchange experiences and knowledge with each other, we went from email to Twitter, Instagram, and Facebook, going through apps like ICQ and Myspace. This transition was reinforced due to the quick technological developments, including mobile communications, digital cameras and the amount of processing power of our handheld devices.
The ongoing evolution of new technology and the desire to share is taking us to highly specialized platforms offering the kind of social interaction some people are looking for. These changes are catching up with digital currency trading.
Although cryptocurrency trading sector and social media have always been related, they are not intertwined yet. Beginning traders are constantly looking for new people on Twitter in order to learn how they trade and mimic their actions. However, social media and virtual currency trading platforms are still separated.
This situation has urged a lot of people to start earning on selling trading data to private groups for monthly payments. In certain cases, this has led to fraud and “pump and dump” schemes.
Cryptocurrency Trading 2.0
Qurrex is the first project that has taken advantage of the situation and designed a new platform combining the cryptocurrency trading with the best of the social media revolution. This new service represents a hybrid crypto exchange that is combining industrial infrastructure of classic exchanges with decentralized network.
Qurrex’ social trading feature will allow traders to:
Receive trading signals from the platform and other users.
Share trading strategies.
Enjoy the benefits of a signals monitoring system.
Automatically copy trading orders from other users.
Generate profit from distributing their expertise as well as from the trading activities themselves.
Unlike today’s exchanges, which can’t always guarantee transparency of all operations, Qurrex provides complete openness of transactions and other information. Users can see who manages the platform, how audits are implemented, view the approximate balance of fiat and digital currency within the system, and know the monthly fee for conducting transactions. The security system of the platform will be conducted each year and will include the issuance of an annual report in open sources. The way the system works enables to uncover information on trades without disclosing the identity of the trader.
The project brings the integration of social media and digital currency trading to a new level. Such niche platforms as Qurrex will soon become the norm, not the exception. However, the sector is still wide open. By taking the first step, the new service will become the rule maker in the filed of social cryptocurrency trading and is likely to become the trend setter this year, bringing the advantages of social trading to its innovative cryptocurrency trading system.
At the moment, the startup is running a pre-sale that is planned to finish on March 27, 2018.
Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.