The Importance of Having a Global Crypto Trading Platform
Cryptocurrency trading is accessible to anyone, regardless of location or their current access to financial services. However, few platforms are able to functionally cater to a global audience due to regulatory constraints. Therefore, finding a viable solution to this pressing matter should be a priority for the coming years.
A Fractured Landscape for Crypto Trading
Even though many people worldwide have expressed an interest in crypto trading in recent times, it can be challenging to find suitable trading platforms. To elaborate, each country typically has only a few exchanges one can use. Several of the more prominent crypto trading platforms, such as Binance, Coinbase, Bitfinex, and others, are accessible across various jurisdictions, but, unfortunately, none of them are available in every country, creating a fractured ecosystem.
Centralized exchanges are custodial, as they control funds on behalf of their users. A downside to this approach is that these companies have to adhere to stringent regulations. Some countries openly oppose cryptocurrencies and want nothing to do with either Bitcoin or Ethereum, meaning that running an exchange, or trading service, in those parts of the world is virtually impossible. The situation may change over time in this regard, but the landscape remains a bit tricky to navigate as it currently stands.
As more people show an interest in crypto trading, new solutions have to be found. At its core, crypto is all about financial freedom and transcending borders. However, when it comes to crypto trading, the process is clearly different. The rising popularity of decentralized exchanges is a step in the right direction. These non-custodial solutions are not run by people, but rather by smart contracts. It is a different take on crypto trading, as it doesn’t involve order books, but hinges heavily on the liquidity provided by all users.
Even though decentralized exchanges are non-custodial on the technology front, the ‘interface’ is still under the control of developers. Uniswap set a negative precedent by removing support for certain currencies through the interface, users could still trade the assets directly via smart contracts though. The community was not asked about the change, confirming that there is still work to be done on the “hands-off” front.
Finding Alternative Solutions
Despite the fractured nature of cryptocurrency trading today, it would appear there are solutions on the horizon. Services like Atani act as a global crypto trading platform. Its primary focus is the tax jurisdictions of the developed economies, but that bold approach can work in its favor. Moreover, the platform provides customizable solutions for the needs of every individual country.
To promote global financial inclusion, Atani wants to create a level playing field. That includes bringing trading, investing, and portfolio management technologies to as many people as possible. Navigating the cryptocurrency ecosystem, however, remains a daunting task for newcomers, so making the process more accessible and straightforward is crucial if crypto is to continue growing. Market participants can trade across over 20 exchanges through one interface and have various free crypto trading tools at their disposal.
The team also introduces a solution for filing taxes. Most novice users think crypto trading and filing taxes do not go hand-in-hand, but the situation differs in specific regions. For example, in the U.S. and across various European countries, users need to file all their trades and profits accordingly. Atani provides the interface and tools to generate timely tax filing reports, removing that barrier to entry.
On The Flipside
- Global crypto trading platforms are still somewhat challenging to come by. However, even decentralized exchanges are not entirely trustless, creating opportunities for others to try a new approach.
- Combining frictionless trading with the right tools and tax filing services may usher in a new paradigm of global crypto trading.
- Improving accessibility to crypto trading remains a top priority in this industry.
Why You Should Care?
Crypto trading is accessible to everyone globally, regardless of location or current access to financial services. Finding a suitable trading platform can be challenging. Centralized exchanges are custodial, as they control funds on behalf of their users and therefore new solutions need to be found. Finding an alternative solution, such as Atani, is crucial in providing a platform with customizable solutions for the needs of every individual country
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PR, Atani, crypto, crypto trading, CryptocurrencyRead More
OhNoCrypto
via https://www.ohnocrypto.com
, @KhareemSudlow
