The cryptocurrency industry has come of age as Bitcoin (BTC) celebrates its 10th anniversary. Over the years, more than 2,000 cryptocurrencies have come to the fore, leading to an increased demand for online trading platforms. Despite existing cynical beliefs about the industry, crypto exchanges have become quite successful in what seems to be a short time.
Now, the most popular exchange platforms not only act as gateways to the industry but also provide the most jobs in the blockchain industry by up to 42 percent.
However, despite the prevalence and success of crypto exchanges, institutional traders looking for volume, speed and, bespoke trading tools have few alternatives as popular crypto exchanges are mostly designed for retail traders. Fortunately, CRIX (a fully compliant exchange) provides a one-stop-shop that allows institutional as well as retail traders to enjoy the benefits of investing in the crypto capital markets.
CRIX Features And Benefits
At its core, CRIX is a crypto trading platform that seeks to level the playing field for institutional traders.
The exchange is compliant with existing regulation and works towards preventing any type of manipulation, a common issue among major crypto exchanges. The CRIX exchange works with Grant Thornton in Malta and law firms in the US to ensure that all regulatory and legal obligations are met. By integrating transparency and openness, the CRIX exchange is set to bring about unseen benefits to the crypto sphere. Here are some of its core features:
Also, with the many emerging advantages of algorithmic trading, the CRIX exchange allows traders to set up and host a trading bot on a special cloud server for faster trade execution. This means that the connection between the trading platform and the trading bot will remain uninterrupted for high-frequency trading.
Furthermore, apart from being able to pick from a variety of pre-made trading algorithms, institutional traders can customize existing algorithms. Traders will also be able to backtest their trading bots on the live market with access to historical data pulled from other exchanges.
Streamlined KYC Processes
In the world of finance, KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations are increasingly becoming stringent. The reason is simple. These processes provide a critical cornerstone to the security of the industry against abuse.
However, most of these requirements feature a host of geographical differences and complexities. On most exchange platforms, reports show that the process of onboarding new users can take up to three days on average; reduced to minutes on CRIX.
For institutional traders, this period can lead to major losses. For this reason, CRIX has designed a high-security KYC process that has been streamlined to only take seconds before approval. The process is facilitated by the help of Yoti which is the leading AML and KYC compliance provider in the UK.
Through CRIX’s partnership with BitGo, the CRIX trading platform can provide next-generation security levels on each wallet. BitGo pioneered the first multi-signature hot wallet for cryptocurrencies. Therefore, institutional traders using the Crix exchange can rest easy knowing that each wallet has a multi-signature with keys that are secured offline in bank vaults.
As the crypto and blockchain space expands further, demand for sophisticated trading tools will increase. CRIX’s vision is to create an infrastructure that will accommodate the increasing needs of this emerging industry while providing a fully-fledged trading platform.
With the integration of algorithmic trading, traders can code, backtest and deploy their trading bots on the live market without incurring huge costs. In fact, for every filled limit order, CRIX offers a 0.05% rebate to traders. This means that (unlike existing exchange platforms) traders on CRIX get paid to trade.
CRIX has also come up with a proof of concept that will allow traders to build AI-enabled trading bots on the CRIX algorithmic exchange. Therefore, apart from having access to a fully-functional test-net exchange, traders will be able to automatically evolve their high-frequency strategies with time. You can try out the CRIX exchange here to enjoy the 0.05% market rebate.