The New Crypto Field at Cryptosouk

Agustus 10, 2018

The New Crypto Field at Cryptosouk

We also believe that bringing long term foreign exchange operations, trading, and market making experience if required to create deeper liquidity and understand the business of exchanges - a place where many new entrants do not have expertise. In the Middle East, there are both larger traders and investors that expect a higher level of customer service and are not interested in the finer details of private key custody.

They instead want to partner with trading platforms that have the security expertise, are local to the region, and speak their language so that they can participate in this burgeoning economic phenomenon and not the technical minutiae. We have brought together a team that includes both global and regional forex trading experience and technologists and security experts that can deliver on the unique Arabic language opportunity.

We are offering a launched platform in the region that offers trading in Bitcoin, Ethereum, Litecoin, Ripple, Dash, Zcash and Monero initially. We anticipate that our efforts to promote this coin offering will also help us acquire new customers for the exchange as well.

Cryptosouk is created because in the Middle East Countries, there are many big traders and investors who expect a higher level of customer service and are not interested in better detail of personal key prisoners.

CryptoSouk will create a sustainable, more efficient Platform / Solutions solution, this platform will be combined with a strong understanding of the ecosystem of financial exchange - a place where many newcomers have no expertise.

We've brought together teams that include both forex and regional trading experience as well as technology experts and security experts who can provide unique Arabic opportunities.

Features

Multiple Trade Views
Multiple views including price chart, depth chart, order book and recent trades ticker.
Plenty of Indicators
58 available indicators including linear regression curves, moving averages and oscillators.
Custom Trendlines
Ability to draw custom trendlines, pitchforks and more that scale and move with chart.
Interactive UI
Ability to customize color and style of bars, borders, wicks, price lines, backgrounds and grid.

PROBLEM

Buying, selling, holding and trading cryptocurrency is hard. We are excited about the various new decentralized exchange ideas being developed but they often suffer from a severe lack of liquidity and market making. In the middle east, however, we think that more active traders and investors are looking for a higher touch, and easier to use trading partner that more matches their existing expectations of participating in financial markets. Our customers also want to know that there are local people in the region that they can reach out to who speak their language and understand their customs.

The crypto exchange market is growing at a very high rate. One of our swap competitors, Binance, announces that they have gained over 250,000 new customers in one day.

Coinbase has over 20 million accounts and 52 million tokens managed in May 2018.
The top 10 cryptoes in the world are on track to generate more than $ 1 billion dollars in costs each year according to 3. Bloomberg's analysis of the market.
Simply put, the overall size of cryptocurrency marketing grows exponentially with strong signs underlying the expected fundamental ratios.
Worldwide exchange opportunities to gain market share in fast-growing markets are hard to understand.

SOLUTION

CryptoSouk has launched a cryptocurrency trading platform from ST Vincent & the Grenadines and Kuwait. The exchange shall be launched at the beginning of Q3 2018 with trading pairs supporting Bitcoin, Ethereum, Litecoin, Ripple, Dash, Zcash and Monero. The company plans to continue to add trading support for additional crypto assets that the company feels exceed certain diligence minimums. Our exchange also allows for account loading by cryptocurrency or fiat payments. Based on the founding teams expertise, we have chosen partners to help us deliver both the exchange platform, liquidity on our exchange and a breadth of funding options.

We believe that we will be able to continue to grow in the region based on the following competitive factors. First we think that being able to transfer fiat currency in and out as inexpensively as possible and as native to Dinars, Dirhams, Riyals and Dollars as possible is critical. To that end we plan to invest in tools and partners who can help us lower those costs and make funding or redeeming fiat inexpensive and easy. Second, we believe that, though not all crypto assets are worthy of listing on our exchange, that the diversity of trading pairs and crypto assets will be an important factor that customers will look to when they choose a preferred exchange.

Third, we believe that higher touch customer service is critical in this region so we plan to invest in customer service to be able to provide a more human touch at scale while doing so efficiently and profitably. Last but not least, the teams localized knowledge of KYC/AML relevant documentation will play a key role in providing a unique and frictionless user experience.

Our Marketing plan is to employ regional experience by directing localized unique digital marketing content via the most optimized channels as well as focusing on education in Arabic as simple yet effective content delivery is few and far between today. Our appreciation of Arabic high context societies will contribute heavily in our mission to create a significant engaged community which forms the backbone of any crypto related product, project or venture.

In-line with industry-wide best practices for digital marketing, the marketing spend will be allocated to two distinct mediums:

The CryptoSouk Referrals program is designed to generate viral growth, and be particularly appealing to both our clients who can use their inner circles and to Influencers who can use their high profile social media accounts to publicize CryptoSouk.

CryptoSouk has a simple and very rewarding referral system. Each user with an account on CryptoSouk.Exchange will have their unique referral code that can be shared with others. Once another user signs-up using this referral code, the referee gets entitled to 50% of the transaction fee paid by their referral for an entire year.

For example, User A shares their referral code with User B. User B enters User A's referral code when creating a new account. Over the year starting from date of User B's account creation, 50% of all transaction fees paid by User B will be credited to User A.