In 2017 the cryptocurrency market saw a massive influx of optimism and popularity. After a market cap increase of over $600 billion, it was no surprise that the cryptocurrency market saw massive media coverage from financial channels, news articles, and stories of instant wealth. Apart from stories of wealth potential, cryptocurrencies gained popularity because they carried the potential for a new era, an era of true transparency and decentralization. This potential for transparency and decentralization seemed hugely unlikely in the digital world, however, cryptocurrencies proved to be a force promising to change that.

Unfortunately, there did exist a few problems during the cryptocurrency popularity wave, much of these were related to the actual cryptocurrency exchanges. The top 3 problems cryptocurrency investors faced during this time were in the areas of exchanges rejecting new users, week-long signs up processes, and exchange hacks. It is true that cryptocurrencies have shown us a new path towards transparency and decentralization, the exchanges, however, do not.

While many cryptocurrencies champion decentralization, the exchanges which transact the majority of these assets remain centralized. In the past, centralized exchanges have illustrated numerous examples regarding why the centralization of exchanges is a negative aspect in the cryptocurrency market. For one, many exchanges charge exorbitant fees, especially when withdrawing and depositing assets. In addition, exchanges are often victims of hacking attacks. As long as centralized exchanges hold massive amounts of assets, they will always be a target for hackers.

Luckily for true cryptocurrency users, there is such a thing as decentralized exchanges, the unfortunate truth, however, is that they are extremely complicated for new users. On top of being complicated in nature, seemingly all decentralized exchanges have hugely confusing user interfaces, this is, of course, a turn off for most cryptocurrency users.

Cryptocurrency exchanges are huge, their growth potential however is even bigger. In the bull market of 2017, exchanges saw record user growth almost daily. Since that time, many exchanges have increased their workload capacity to meet the future surge of users. The era of cryptocurrency is still quite new, this means exchanges have an unfathomable growth potential. For an exchange to see maximum growth, they need security, transparency, and of course, practical features. Despite this being a relatively simple recipe for success, we have yet to see an exchange that truly encompasses these factors. We have learned to trust the blockchain in regards to trust and transparency, therefore, there is no reason why we shouldn’t demand the same standards from cryptocurrency exchanges. If centralized exchanges are too risky to deal with, and decentralized exchanges remain complicated, what alternative do cryptocurrency users have? Surprisingly, this question can be answered with a single answer… weiDex.