Cryptocurrency trading experience is fundamentally different from the conventional markets. Traders need new tools yet no one is stepping up to the challenge.
We have carefully studied this market and tested front ends of over twenty exchanges. Almost all offer similar UI/UX that is based on either FX or Equities market paradigms which are inefficient for the cryptocurrency market.
In the current environment, cryptocurrency traders are limited to the following experience:
• A trader has to login to 2-3 exchanges. Each has its own UI which is a browser window that takes full screen
• Traders can only follow one market (coin pair) per exchange
Crypto market is strongly influenced by the social media: Telegram, Whats up, Twitter, Reddit. However, these exchanges do not offer any news or social media digests or analytics
Direct deals or swap requests require additional services such as Shape Shift
There is no way to effectively manage 24x7x365 market
Traders can not automatically transfer funds and trade the best market
Tools to monitor arbitrage execution require additional screens and services
Current UIs do not offer any functionality to track balances, net positions, unrealized and realized PnL across all exchanges
Savvy traders who are trained on Quantopian or Metatrader and want to script their algos would need additional screen real estate for coding tools to program arbitrage models and automation.
There are no ways to submit passive orders or to submit a relatively large order on an exchange without disrupts that specific exchange price.
Most exchanges have fixed pairs meaning that in order to generate an individual pair, a trader has to jump through at least two trades.There is currently no easy way to form unusual trading pairs.