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The market for cryptos has evolved from being a magic show where the audience expects to enjoy it for a bit and go home knowing it was all fake, to being one of the biggest windfalls since cartwheel transportation. Although it still takes a while to convince some people to move their eyes away from the traditional form of exchange and join the wagon of blockchains and crypto assets, there is more widespread acceptance now than there was before. One might even say that the world of cryptos has met with all-round success.
Currently, the crypto industry has branched into small industries that are growing into their own. In 2021, for example, we saw the evolution of non-fungible tokens (NFTs). Also, while some of these tokens are selling for more money than some countries have as annual budgets, gamification has also emerged as a means of value exchange. Really, the opportunities for individual financial profit are boundless, more so the case for regional growth and development. Thus, one regulated crypto-fiat platform has emerged after another decentralized platform to buoy the market. But there are snags.
Inasmuch as the world of cryptos and blockchains offers daring opportunities for the evolution of the global society and economy, the obstacles to the actualization of these opportunities are no less daring. The system itself is perfect and particularly potent for inclusive, all-round development. But its operation is tangled with the interests of human beings. Ergo, the big divide and a reasonable justification for hesitating investors and potential stakeholders.
So, let’s have a brief overview of the dynamics of the crypto industry, first by distinguishing centralized exchange platforms from their decentralized counterparts. Next, we look at what a regulated crypto-fiat platform is and what are its winning points. Lastly, we look at why you should use Kyrrex, the world’s first regulated crypto-fiat platform. What we want to show is what constitutes the best crypto platform and how a centralized cryptocurrency platform like Kyrrex is taking the crypto world by storm.
The Best Crypto Platform: Decentralized Versus Centralized Exchanges
The leading driving element in the crypto industry is trading and exchange. Consequently, there is a growing number of platforms that allow investors and common people to participate in the fun of acquiring and selling off crypto assets. These platforms are called exchange platforms, some of which are centralized, decentralized, or a hybrid of both.
Decentralized Exchange Platforms
Decentralized exchanges are the ‘default’ framework for the crypto industry. They follow the Satoshi Nakamoto principle of peer-to-peer transaction. As a consequence, any user can buy or sell cryptos on decentralized exchange platforms without having to engage the services of a go-between. The blockchain network (which is artificial in the sense that it is an automated infrastructure) supervises the transactions.
Due to the absence of human intervention, decentralized exchange platforms are far more popular than centralized counterparts—or they used to be. This is because they promote anonymity and prevent market manipulation. Again, these advantages exist because the system is overseen by automated processes rather than human beings.
Centralized Exchange Platforms
Centralized exchange platforms promote the intervention of the human agency. With these platforms, you will find a third-party between the buyer and seller who oversees the terms and conditions of the transactions. The trading process is still automated in the sense that blockchain features are involved, but go-betweens exist between you (the crypto trader) and the other party (another crypto trader).
Apart from the third-party factor, the primary difference between decentralized and centralized exchange platforms is the extent of regulation. Decentralized platforms facilitate crypto trading between parties without enforcing any kind of rule in the processes. A regulated crypto-fiat platform, on the other hand, is the typical centralized cryptocurrency exchange platform that uses regulations to smoothen the transaction process and make the involved parties more accountable to each (or one) another.
Ultimately, the best crypto platform is the one that works for you, whether it is centralized or decentralized. However, times are changing and there are more conversations now about what a regulated crypto platform has to offer to the average crypto trader or investor.
What is the Benefit of a Working Regulated Crypto-Fiat Platform?
Regulated crypto-fiat platforms have a number of benefits that are lacking in decentralized exchange platforms. A few of these advantages are highlighted below.
Reliability/Insurance
One of the biggest negatives to using decentralized exchange platforms is the fact that the platforms are decentralized in the first place. In other words, there is no human agency at the top or center that is actively monitoring the transactions on the platforms.
Consistency is written into the code of machines, but this is not the case for human beings. Since reliability comes with consistency, the fact that human beings are involved in the tradiang of crypto assets indicates that there is a margin for irregularities and conflict. But a centralized cryptocurrency platform skirts around this problem by having regulatory monitoring measures in place.
In a nutshell, you can trust a regulated crypto platform more than you can trust a crypto platform that has no regulations.
Crypto-fiat pairing
Another challenge to using the original decentralized model is that it does not cohere with the current model of finance. An industry designed with the intention to promote or even engender inclusive growth has to take the current financial infrastructure into account. This is what regulated exchange platforms do.
Centralized exchange platforms typically allow the deposit and withdrawal of money in crypto and fiat forms. This is why they have the ‘crypto-fiat’ label attached to them. As a result, traders generally have more confidence regarding regulated exchanges since they have ties to tangible fiat currencies rather than the intangible virtual cryptocurrencies.
Support services
Again, the definitive characteristic of centralized exchanges is the presence of human regulators or monitors. Consequently, in the case of mishaps, the centralized user can always reach out to the management board and submit queries. The active feedback loop allows for peace of mind, to be honest, so the centralized trader has access to more help, educational materials, etc., that ultimately increase their understanding of the crypto industry.
Ease of use
Regulated exchanges are easy to use. Whether they are designed as dedicated apps on Windows, MacOs, or Linux, or as simple web pages you can access on browsers, the user interfaces always lean on simplicity. Consequently, a newbie might do well to try out centralized exchange platforms before delving into the complex nest of algorithms and protocols that constitute decentralized exchange platforms.
Why Should You Use Kyrrex?
So, knowing that regulated crypto platforms have benefits that stand them out from decentralized exchanges, which particular platform is the best? Well, that is not the subject of this article. The aim of this article is to show that Kyrrex is a smart choice for smart crypto traders, investors, and enthusiasts.
Simply put, Kyrrex is a regulated crypto-fiat platform that works. By that, we mean that the various benefits that were listed as characteristics of working regulated exchange platforms can be derived from using Kyrrex. But if that is all there is to Kyrrex, it wouldn’t be much, would it? Indeed, there is much more to Kyrrex than just acting as the middle-person between crypto traders.
It is well regulated
Kyrrex is not an exchange platform that is self-regulated. Instead, it possesses a Class 4 Virtual Finance Asset (VFA) License that was given out by the Malta Financial service authority (MFSA). It also has an Estonian license of financial services which is backed by the integrity of the Estonian financial intelligence unit. Consequently, the platform cannot/will not pull the rug from under its users since it is accountable to reputable institutions.
It bridges the gap between traditional finance and crypto market
Kyrrex is a solutions-specific exchange platform. It was primarily set up to bridge the gap between the current on-the-ground financial structure and the more idealistic system within which blockchain innovations can thrive. As a result, the exchange platforms’ brand of regulation is designed to allow for the intersection of the current banking system (with its protocols) and the autonomous-themed crypto network.
With Kyrrex, you can easily interface with both sides of the financial divide. Thus, you can use both fiat currencies and cryptocurrencies to get products and services,easily switching between the two.
It has a solid liquidity hub
Kyrrex was the first crypto exchange platform to introduce a liquidity hub. This is one of the platform’s features designed to withstand the high volatility of the crypto market and give users that extra peace of mind that is the difference between a devoted crypto trader and serial tester.
The difference between Kyrrex’s liquidity hub and the usual liquidity pools from other centralized crypto platforms is that traders are not limited by anything. As such, a crypto trader on Kyrrex can sell their crypto assets without having to worry about high slippages. In other words, Kyrrex makes it easy to get out of any one end of the crypto pool, if only temporarily, without having to pay through your eyes for your experience.
It has low trading fees
The trading fees on the Kyrrex trading platform are relatively negligible. The platform was particularly established to beat the 2.9% fees that were charged on average by other crypto currencies. Against this rate, the trading fees at Kyrrex are lower.
Furthermore, Kyrrex provides an avenue for the trading fees to be lowered to the point of nonexistence. Thus, as long as trading activities are carried out within the Kyrrex ecosystem, the platform charges nothing. In other words, when you trade with the Kyrrex token (KRRX), Kyrrex’s commission rate is 0%. This is not likely to change anytime soon.
The operating mechanics are efficient
Kyrrex is an efficient platform that is driven by sophisticated algorithms. The result of these running algorithms is a super fast and dynamic core that ensures over 1.5 million transactions every second on each crypto asset. With 2 to 3 seconds of transaction speed, Kyrrex significantly beats the industry-average transaction speed of 15 to 13 minutes per buying/selling session.
It prioritizes the privacy and security of user info and assets
One complaint that is constantly leveled against regulated crypto exchange platforms is that they use a Know Your Customer (KYC) protocol and therefore prevent anonymity. This is true, but Kyrrex takes it a step further by ensuring that user information is kept private and secure.
By the same rule, Kyrrex is designed with a bulwark of security protocols that can deter hacking. The funds on the platform are consequently safe, and cannot be assessed without authorization.
It allows for assimilation
One of the best parts about using Kyrrex is how easy it is to move from the fiat world into the world of cryptos. The platform’s architecture allows for a smooth transition from one end of the currency chain to the other, depending on your preferences. Thus, Kyrrex is the ideal crypto-to-fiat and/or fiat-to-crypto platform, so that users are able to utilize either fiat currencies or crypto assets for trading.
The ease of managing your traditional assets alongside your crypto assets translates to a diversified trading portfolio. As such, you win both ways: you maximize the offerings of the blockchain system without losing touch with (and becoming financially irrelevant in) the traditional fiat-driven financial sector.
The user interface is friendly
Kyrrex prioritizes practical simplicity over aesthetic excesses. As a result, the platform is built in such a way that users can easily navigate to features without consulting extra materials. The system is very efficient and comfortable, whether the intending user is a crypto novice or an established expert. But, the platform does not sacrifice usage dynamics for simplicity. This means that the platform still provides access to a wide coverage of its products and services at a glance.
The interface of the Kyrrex Crypto Wallet, for example, can be summarized in three words: simple, practical, and convenient. So, using the wallet app lets you manage your trading portfolio with ease, examine your history, preview market realities, and monitor value fluctuations in crypto or fiat forms.
Kyrrex is a reliable, progressive, and user-centered regulated crypto-fiat platform. Its features are first-rate, and the opportunities it offers users are nothing short of superb.
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