Unlike traditional financial platforms where you can buy, hold, or sell any stock, bond, or mutual fund, the existing cryptocurrency platforms are fragmented by very limited exchanges.
Cryptocurrency exchanges oversee the trading and on occasion valuing of cryptocurrencies. Since exchanges are not required to register with any centralized authority, it is difficult to determine an exact number at any given time, but it is estimated that over 500 cryptocurrency exchanges exist currently.
Some of the more popular exchanges for example are eToro, Coinbase, Cash App, Binance, Bisq and BitMex. The problem exists that not all exchanges trade the same cryptocurrencies which leaves the users not only juggling multiple platforms but having to retain multiple usernames and passwords.
Add to that wallets. A blockchain wallet is a cryptocurrency wallet that allows users to manage different kinds of cryptocurrencies for purchase, hold or sale on multiple exchanges. The number of blockchain wallet users increased from only 100,000 in 2013 to over 70 million today.
Holding cryptocurrencies is not like holding dollars in a bank or shares of stock in a brokerage account, where if you forget your password, a simple trip to the bank, or call to your firm can rectify the problem. If you forget your password to one of the many exchanges or wallets where you hold your cryptocurrency, you could very well loose that cryptocurrency.
Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis. Wallet Recovery Services, a business that helps find lost digital keys, said it had gotten 70 requests a day from people who wanted help recovering their riches, and this number is multiplying monthly.
Enter FINXFLO… Created by industry leaders in finance, technology, law and compliance, FINXFLO is the world’s first hybrid CeFi/DeFi liquidity and protocol aggregator bringing a one-stop solution for all cryptocurrency traders and investors by enabling the user to use only one account, with only one KYC and encumber various platforms through a single user interface.
If you ever traded cryptocurrency across various platforms, you would have noticed that there are price discrepancies of the same cryptocurrency across those platforms. The reason for this is that there is no standard or global price for any cryptocurrency at any given time.
FINXFLO is leveling that playing field by aggregating prices from the various exchanges and correlating them on to the FINXFLO platform to ensure that users benefit from the best available prices of cryptocurrencies regardless of their platform, market distortion or their portfolio size.
The FINXFLO platform is a one stop comprehensive platform with an app currently in the works.
Benefits of using FINXFLO over other exchange platforms:
Deepest Liquidity – Multiple supported exchanges providing market leading liquidity pools.
Custody Protection – Users can store their digital assets with world leading security protocols and custody providers
Incognito Mode – Investors can take advantage of dark poll trading to reduce market footprint.
One-Stop Solution – Users can enjoy the seamless FINXFLO trading experience with 1 account, 1 KYC, and 1 Wallet.
Recent news shows that FINXFLO is growing its network rapidly. Over the past few weeks FINXFLO has enhanced and strengthened its ecosystem with the additions of BKCoin Capital, BitMart and the People’s Exchange KuCoin.
By Q4 2021, FINXFLO expects to have its app launched with multiple language support.
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