CurryCoins liquidity aggregator; an automated crypto-to-crypto brokerage that allows users to seamlessly trade across different platforms through a common liquidity pool.

The level of innovation and ecosystem strength that Distributed Ledger Technology (DLT) has fostered does not come around often. The cocktail of a revolutionary underlying technology, a disillusionment with the current financial system, and a deep yearning for change has bubbled into a global movement. This is potentially one of those ‘once in a lifetime’ periods, where a generation gets to be part of something that can bring a paradigm shift in the world.

However, both DLT and the associated cryptocurrency ecosystem are still very much in their nascency, with a few nagging pain points that continue to hinder further development. We subscribe to the belief that cryptocurrencies exhibit a ‘network effect’; the robustness and value of a cryptocurrency network increase exponentially with every additional active participant. If this is the case, mass adoption is as much of a critical factor as the development of the technology itself.

The focus of the CurryCoins platform is addressing the former; creating a layer of killer applications to spur adoption. Since the platform is a trading based product, let’s first take a look at the current scenario in the trading ecosystem.

Present Day Scenario in Trading Ecosystem

The cryptocurrency market is composed of many important intermediaries and groups; this piece will focus on the spot market, derivatives, brokerages, and trading tools.

Let’s take a look at first four layers of the Trading Ecosystem

1. Exchanges: Things move quickly in the world of crypto. Just as a coin can climb the charts in a matter of hours or days, so too can exchanges. Take Binance, for example. It has quickly become the most widely used exchange in the world over the course of less than a year.

Crypto exchanges like Bitstamp, Kraken, CEX.io are among the top fiat exchanges.

Fiat exchanges usually have limited trading pairs, since those trading pairs are regulated. An example of this is the pushback Japanese exchanges faced when adding privacy based coins such as Monero and Zcash. As such, if you want to buy a niche altcoin, you’ll usually have to purchase ETH or BTC at a fiat exchange and then transfer those funds to a crypto-to-crypto exchange in order to buy the token you want. Exchanges like Binance, HitBTC, Bittrex, Poloniex are generally the most popular places to go for this service.

2. Brokerages: Brokers are a great option if you want to trade cryptocurrencies without all of the bells and whistles, and usually offer the option to accept multiple forms of payment. If you want to buy cryptocurrency with Paypal, you can, and these forums also accept major credit cards and wire transfers as well. This model is used Coinbase, Changelly, while other models include that of Shapeshift, which leverage the underlying technology to bring privacy and control to users trading experience.

3. Trading Tools: With over 1,600 cryptocurrencies and assets available on over 10,000 exchanges and markets it’s pretty hard to keep an eye on all the opportunities and achieve a certain trading quality level. For easing out the experience of trading for the hardcore traders there are certain tools which will help your way to crypto-moon.Tools or websites like Coinigy, Exgate, BmyBit, Cryptowatch.

4. Derivatives: A derivative is a financial security with a value that is reliant upon or derived from an underlying asset or group of assets. The derivative itself is a contract between two or more parties based upon the asset or assets. Its price is determined by fluctuations in the underlying digital asset. Derivatives can either be traded over-the-counter (OTC) or on an exchange.

Some of the exchanges offering trading Bitcoin & Altcoin Futures are;

(i). BitMEX: It’s an exchange offering derivatives products on top of Bitcoin. BitMEX is a new type of Bitcoin exchange, built for serious traders and cryptocurrency holders with liquidity and hedging needs. BitMEX is the only derivatives exchange that stands behind its settlements and will never force-close a position or deduct profits from traders to cover its losses.

(ii). DeriBit: Deribit has ZERO trading fees and is the only full-featured Bitcoin futures and options platform. Deribit also offers trading via REST, Websockets API or FIX bridge. High-performance API that can handle even hundreds of requests per second from a single account.

Problems faced by Crypto Trading Platforms

Ultimately, the crypto trading community is facing a series of big problems and each must be solved before DLT assets can mature as a market.

1. Network Effect: For an exchange to be successful, it requires its users to bring in liquidity to ensure the platform runs smoothly. On the other hand, retail investors and market makers aren’t interested in joining a platform without existing liquidity. This forces most platforms to aggressively burn cash trying to create this critical mass of users, and often don’t succeed.

2. Too many exchanges, too many assets: Obviously, as more and more exchanges spring up in a single jurisdiction, liquidity is spread amongst them, further complicating the issue of reaching a critical mass of users. Additionally, due to the mobility of cryptocurrency, users can flee to a different exchange at the first sign of trouble, potentially destroying the equilibrium sustaining the exchange.

3. Big Fish: The crypto-crypto market, in particular, is concentrated in a relatively small number of mega exchanges that generate the vast majority of volume. These exchanges have state-of-the-art matching engines and security measures, and years of trust built up with customers. Any attempt to enter the space means competing with these big fish for customers, and trying to do that with the same product they’re already offering will likely result in failure.

4. Transfer Costs & Delayed Deposits: Apart from keeping track of portfolios across various exchanges and wallets, it’s difficult to actually move funds around to exploit opportunities when operating on a large number of platforms. This is despite the inherent mobility cryptocurrencies have to offer; rather, these delays and costs are a product of a lack of understanding of the various functionalities inherent to cryptocurrencies (batched transactions, for example) and delays from the exchanges.

5. Liquidity problems: In Bitcoin markets, for example, this lack of liquidity is compounded by the fact that many BTC holders are sitting tight as the value rises and are unwilling to put their Bitcoins back on the market. So there are less number of BTC in the market to be traded.

6. Security Issues: The cryptocurrency market has right from its inception been beset by the activities of hackers and cybercriminals. There have been a number of high-profile cryptocurrency hacks and heists that have resulted in millions of dollars being stolen. Some famous incidents from the past are Mt. Gox (BTC), The DAO (ETH).

Advantages of CurryCoins over Conventional Exchanges

CurryCoins is a liquidity aggregator platform, an automated crypto-to-crypto brokerage that allows users to seamlessly trade across different platforms through a common liquidity pool. We are entering the market with some solutions to the present day problems that users are facing. Here are certain points where currycoins can help users by easing out the way of trading.

1. Agility in trades: When a big move happens, one exchange tends to lead the others in terms of price and volume. However, unless users have readily available funds spread across different exchanges, they can’t take advantage of this information )

2. Portfolio & Fund Management: Having a good cryptocurrency portfolio management platform is crucial for knowing how well your investments are doing and what their real value is. Eliminate the need to track and micromanage funds across exchanges completely, by using CurryCoins platform as a hub. Track your funds, analyze your portfolio, trade and transfer your funds from a single platform

3. User Experience: User interfaces will overcome necessity as the main reason financial institutions seek technology for the digital coin era. Being functional will no longer be the only requirement and UX will definitely be the next big thing.

4. Widest Variety of Assets: Users can choose from the widest range of cryptocurrencies that they need to trade, buy or sell from different exchanges that are listed on currycoins.

5. Increased Reaction Time: Large price swings are often spurred by a large move on a single exchange, while moves on single exchanges can throw false signals. By leveraging our common pool of funds, users will never be caught on the wrong foot by having the ability to switch exchanges with the click of a button.

New Opportunities for the users

1. Arbitrage opportunities: In a nutshell, arbitrage (when it comes to trading) is a strategy to take advantage of differences in prices across markets to make profit on your investment. arbitrage opportunities come and go in the blink of an eye. Sometimes selling and buying must even occur simultaneously.

2. Diversified Risk: No single point of vulnerability, user’s funds are spread across hot wallets, exchanges, and cold storage which ultimately reduces the risk of any compromisation.

3. Benefit from the Ecosystem: There are many exchanges with over millions of users instead of being their competition why not take advantage of them as it solves out the problems of Liquidity and a wide range of assets.

4. Advanced Functionality: Users can enjoy all the advanced functionality that these crypto exchanges provide to their users like; Margin trading, Stop-Loss limit orders, etc..

Finally… About the Alpha Launch!

We would like to invite traders worldwide to participate in our alpha testing phase and help us out in the rigorous testing of our platform.

Sign-up for the CurryCoin’s Alpha phase to get your invite: https://currycoins.com/

There are some amazing rewards awaiting for our alpha users and we want you to make the most of it.

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