Institutional Investors Are Finally Served with a Compatible Crypto Exchange
Bitcoin Press Release: Some of the most important concerns of large investors while considering an investment opportunity are the security of their investments in the face of eventualities, the efficiency of the operational processes and the level of transparency that the investment platform offers.
The inability of any of investment platform to optimize it services based on all the identified concerns implies a significant level of risk by institutional investors. This is so because of the high volumes that are traded by such large investors – any slip means a huge loss.
The Limitations of Existing Exchanges
Currently, most existing exchanges are offering systems that do not satisfy the concerns of these large investors, yet they have business simply because the smaller speculators whose risks may not be as large are stuck due to the absence of alternatives.
The case of Mt. Gox in which the company said it had lost almost 750,000 of its customers’ bitcoins and around 100,000 of its own bitcoins, totaling around 7% of all bitcoins and worth around $473 million at the time, but decline responsibility for stolen bitcoins is enough to discourage any major investor who would assume that his investment will have no guarantees.
Apart from the possibility of losing one’s investment through technical faults, most existing exchanges operate in a login/password paradigm. Even though some “verified account” solutions exist, many traders have been confronted with locked accounts, credential problems and even incorrect balances on their account. This can be a most frustrating encounter, especially when there is a large amount of money at stake.
Then there is also the restriction caused by limits of transaction amounts within specific periods of time. For investors with large volumes to process, this is often a frustrating experience and could imply indirect loss of value due to missed opportunities in the fast moving market.
Suspected market manipulation, lack of transparency and latency problems due to differences in connection quality have also been identified as factors that are discouraging major market makers from playing a significant role in the crypto industry.
Actualization of Market Predictions
With the solution that Legolas brings into the ecosystem, we would expect a significant growth to kick off within the crypto market as has already been forecasted by industry experts.
Kay Van-Petersen, an analyst at Saxo Bank says:
“Within 10 years cryptocurrencies will account for 10% of the average daily volume of fiat currency trades, with Bitcoin alone accounting for a 35% share. This translates into 175 billion dollars of bitcoins being traded daily.”
The level of growth that is anticipated within the crypto ecosystem can only be achieved when major investment stakeholders like institutional investors who have hitherto stayed on the sidelines fully embrace the market and become active players.
The Legolas Solution
To promote this, Legolas is offering an exchange that would guarantee investments while offering optimum service in a transparent and auditable environment.
By partnering with BanQix, Legolas exchange allows users to have secured deposits in both fiat and cryptocurrencies. Legolas Exchange customers will also have access to accounts in Bitcoin, Ether, and other digital assets. Also, in addition to being able to make deposits and withdrawals in both fiat and cryptocurrencies, Legolas Exchange and BankQix will enhance a reliable, scalable and secure deposit and withdrawal system while offering the option of converting fiat currencies into cryptocurrencies, and reciprocally, in large quantities.
The implementation of blockchain technology on top of the centralized system creates a level playing ground for all investors by solving the latency problems caused by differences in connection quality. Other blockchain properties such as immutability, transparency and public accessibility will ensure that the exchange is trustless and open for audit by the regulator in real-time.
Apparently, the expected boom of the ecosystem is very much within the horizon as institutional investors and large holders are finding a comfortable entry platform in Legolas exchange.
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