Encrybit’s groundbreaking bounty program is back again starting October 29th!

Hello Cryptocurrency trading friends, I’m Jake Davis. Today I am going to talk to you about an exciting new exchange that is being designed by the advice of cryptocurrency traders.

Encrybit is a new exchange that has won accolades from traders and industry professionals alike for conducting a two-part survey of cryptocurrency traders to find out what they wanted from a new cryptocurrency exchange.

The first part was a fill in the blank questionnaire designed to find what features crypto traders thought were latest in cryptocurrency trading. The second part, a multiple choice survey, queried more than 10,000 traders from 161 countries that refined the answers from the previous survey to find the most important features to traders.

Results from the surveys can be found here.

1) Cryptocurrency Exchange Problems

2) Cryptocurrency Exchange Evaluation

Most importantly, Encrybit is going to be developing the entire platform around crypto traders’ advice. Everything from the user interfaces all the way down to the trade formats themselves, the Encrybit team will be creating the features traders want on one platform.

Let’s start with the trade formats. There are many different types of crypto trading platforms. Decentralized, centralized, and social trading are the most popular. Decentralized trade exchanges allow traders to trade amongst each other (e.g., Bittrex, Poloniex, etc.), while centralized exchanges only allow traders to trade with the exchange itself (e.g., Coinbase, Circle, etc.). Social trading will enable traders to interact and cut deals with one another (e.g., Paxful, Local Bitcoins, etc.).

Encrybit will be incorporating both Decentralized and Social trading methods on the final product. That means traders will be able to interact with one another as well as place market and limit orders with the pool of traders on the exchange. Liquidity is the main goal of this format and will play a major role in the development of features down the line.

The user interface is going to be the most advanced and unique of all exchanges. Some features include intelligent profit/loss statistics, crypto radar, and the ability to place orders directly from an advanced crypto chart that will consist of the top indicators as chosen by traders. Aesthetically speaking, the user interface will have all the bells and whistles, plus a few “doo-dads” to boot.

Traders felt that having everything in one place was the best way to go. That meant they wanted news, statistics, analysis, training and education, social trading, and order placement directly in the user interface dashboard. Encrybit is happy to oblige traders in this manner. After all, those who will be using the exchange need to have everything at their fingertips to be satisfied with the final product.

Most traders felt it was a nuisance to have to go back and forth between two or more websites to find news about a currency, find a suitable currency pair, and place stop-loss orders to produce a profit from their trades. Encrybit has decided to have a news section, on the same dashboard as profit/loss statistics, analysis charts that traders can place orders from, and as many currency pairs as possible. As I said before, friends, liquidity is the main goal.

Beginners will be happy to know that there will be a demo trading feature with detailed and clear instructions on how to trade cryptocurrency on Encrybit. Traders felt that the demo feature along with social trading with experienced professionals would give beginners the best advantage starting in cryptocurrency.

There you have it, Encrybit is the one-stop cryptocurrency shop designed by traders for traders. The best part about it is there will be a house token, the ENCX, that could be used to lock in gains like a fiat currency. The ENCX token will be going on sale in a private sale very soon, and several opportunities are being offered through a bounty program beginning on October 29th.

Be sure to check out the website to stay up to date, and follow Encrybit on social channels like Twitter, Facebook, Steemit, Telegram, and Medium to cash in on the promotions that will be available in the bounty program.