PHOTO CREDITS: BBOD
INTRODUCTION
The crypto exchange or crypto-trading market has been experiencing certain problems such as that of hacking, lack of or low level of seamlessness, lack of transparency , etc, over the last couple of years. These problems have put the market at big risk. Various methods have been employed in addressing these problems over the years.
BBOD was designed and presented in order to improve on the system and combat these problems by addressing them individually and at the same time, holistically, in order to facilitate perfect turnaround for the cryto-exchanges market.
CHALLENGES OF THE EXCHANGES MARKET
Transparency: Lack of transparency has been a major problem in this market. Transparency means openness and proof of how solvent the exchanges are. Everybody (traders) wants platform transparency as much as possible. They need to know everything about their accounts, how their funds are being used and managed on cryto-exchange platforms. They have to ascertain whether exchange companies are not actually stealing part of their funds.
Hack-prone
For about ten years now, crypto-trading has been experiencing hackers attack. According to some online reports, Hackers have stolen over a billion USD illegally through hacked cryto-exchanges systems. This alarming rate of hacking puts the market at big risk.
Expensive cost of transactions
A disadvantage of trading crypto is the fact that the transaction cost is relatively high for traders who are very active. Most high-frequency investors are usually charged more on their transactions or activities than regular users are.High returns on altcoins
There are little or no platforms where crypto traders can get a relatively high or satisfactory returns on smaller/alternative coins. Altcoins are alternative-coins.Several wallets
Trades of various currencies are required to have different wallets for every pair of currencies to be traded. This system is tedious to handle.
BBOD's WAY OF ADDRESSING THESE PROBLEMS
BBOD is addressing these problems in a number of ways by offering features that directly combat them.
1.NON CUSTODIAL WALLETS/ACCOUNTS
Other exchanges such as Bitmex have your coins and private keys under the full control of the platform owners or managers. This makes your wallet custodial. BBOD provides traders with non custodial wallets, that is, their funds are held in a smart-contract account.
2.TRANSPARENCY, SOLVENCY, SAFETY
With the application of the block-chain technology, BBOD platform is built on the Etherium block-chain and this provides openness, security and safety for all transactions, funds and keys. Everyone can monitor (exclusively) funds flow and management, number of users, etc on the platform.
3.COST-FREE TRANSACTIONS
BBOD will charge no fees for transactions made on the platform. All users need to do to qualify for this is to utilize the BBD (BBOD's exchange Token)
4.HIGH RETURNS ON ALTCOINS TRADING
Altcoins are digital coins similar to the Bitcoin but different from it. BBOD is ensuring that there is high returns (profit) or leverage on even the smallest of altcoins.
CONCLUSION
BBOD is solving these problems by the above features.
In addition, and very importantly, there is also the Stable-coins Utility. Stable-coins are currencies backed by another currency or asset that is relatively stable e.g gold or USD.
Unlike most exchange platforms which require traders to post various collateral for the different assets they are trading on, BBOD platform only requires that traders we a universal collateral which is based on US Dollar to trade all assets.
For More information you can find on these links:
WEBSITE: https://bbod.io
BBOD TRADING PLATFORM: https://bbod.io/platform/symbol/CFX/BTC
BBD TOKEN SALE WEBPAGE: https://bbod.io/offering
TELEGRAM: https://t.me/BBODCommunity
WHITEPAPER: https://bbod.io/static/BBOD%20
FACEBOOK: https://www.facebook.com/BBODTrading
TWITTER: https://twitter.com/BBODTrading
LINKEDIN: https://www.linkedin.com/company/bbod
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AUTHORSHIP:
Bitcointalk username: Adaora2323
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2011741;sa=summary