Innovative Approaches from the new age Crypto Exchanges
The cryptocurrency market has become crowded with crypto exchanges. However, it has definitely not resulted in an increase in the quality of services, which they provide to the customers. Mushrooming crypto exchanges have resulted in cut-throat competition amongst the exchanges. As a result, none of the exchanges have been able to make it big. However, cryptocurrency exchanges have started implementing some innovative approaches in order to establish themselves in the market, and enhance their market share. Let’s have a quick look at some of the recent innovative approaches.
1) It has been seen that the cryptocurrency exchanges have started listing the native currencies of the rival exchanges. Now, that is a bit surprising, as that has never happened previously. But it is clear that exchanges want to develop a bigger market share, by listing the rival currencies as well. For example, we saw Kucoin has listed BNB, which will definitely shift some of the BNB traders to Kucoin.
2) Cryptocurrency exchanges have started distinguishing themselves based on the services they offer to their customers. As a result, they have introduced innovative features with refined services, which will help them to create their mark in the market.
3) Renowned Crypto exchange Coinsbit has started offering lending services to its customers, with or without a valid credit score. In the future, Coinsbit will also offer deposit schemes based on cryptocurrencies at predefined interest rates, just like the conventional banks offer.
4) Digitex has redefined is taken model, which will enable the zero fee system for its customers. This could be a gamechanger, as customers will be definitely attracted towards this platform in the absence of transaction fees.