ICO Review: CryptoSouk Project

- September 10, 2018

OverView:

Crypto exchanges are daunting for the uninitiated. Poor design, unintuitive interfaces, off-putting technical jargon. It’s little wonder that so many people choose to hold onto their cryptocurrencies through good times and bad rather than navigate the maze of the average exchange site. You would almost believe that some exchanges aren’t interested in new business, preferring instead to greedily maintain platforms that are out of reach for most of us.

We believe that there is a unique opportunity to focus a centralized cryptocurrency exchange on the Middle East and the Arabic language. 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 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

CryptoSouk Solution:

Crypto Souk will be a crypto trading platform. The exchange will launch at the start of Q3 2018. At the start, it will have trading pairs, which support Ripple, Dash, Bitcoin, Ethereum, Monero, and Litecoin.

The company has plans to add trading support for other crypto coins after a careful examination. This exchange will also allow account loading by crypto or fiat. The developers have also picked partners, who will help them deliver the exchange, liquidity, and wide array of funding options.

The founders believe that they will continue to grow in the region based on various competitive factors. First, they will allow the transfer of fiat in and out of the exchange in the cheapest way possible. To make this a reality, they will look for partners and tools that can help to lower costs, thus making redeeming or funding via fiat easy and cheap.

Secondly, the founders believe that although not all crypto coins are worth listing, the diversity of trading pairs and crypto assets is important for consumers when picking an exchange. Thirdly, the creators of the exchange believe that great customer service matters. Thus, they plan to make a huge investment in customer service. Lastly, the team’s local knowledge of KYC and AML rules will be an important factor in offering a frictionless user experience.