Cryptocurrency adoption is at an all-time high thanks in part to the emergence of new digital ecosystems and radical Fintech innovation. Today, more financial institutions are participating in crypto-asset markets, and the average trading volumes on some of the major exchanges are hitting daily records.
One of the main infrastructures trying to speed up crypto adoption rates is crypto exchange platforms. More exchange platforms, such as Aurix, are going beyond offering just the conversion of virtual currencies by providing businesses with crypto-fiat interchangeable payment platforms.
Problems faced by crypto exchanges and how Aurix fits in
Similar to how the internet usage had scaled since early email days, blockchain use had seen tremendous growth over the last few years. Crypto exchanges are at the center of this blockchain scaling.
Today, most crypto exchanges are developing their own blockchain ecosystems to help them operate more efficiently and gain their positions in the crypto market. Most of these infrastructures are geared towards blockchain interoperability. And with more people adopting crypto, this will help exchange platforms to integrate third-party applications such as plugins for businesses that want to accept crypto payments and offer faster crypto trading and conversion and more secure transactions.
For instance, Decentralized Finance (DeFi), which is built on the Ethereum blockchain, has led to decentralized exchanges (DEXs), such as Aurix, that are spearheading the global transition to crypto by building user-friendly platforms and motivating their customers with DeFi Cashbacks.
Such infrastructures have been key to helping solve some of the current problems faced by crypto exchange users. Here’s a comparison table of the problems faced by crypto exchange users and how Aurix is solving them;
|Problems faced by
|Liquidity and transaction speeds
|High liquidity and fast transaction speeds
|Intuitive design and user friendly interface
|Low predefined commissions
|Blockchain based to make transactions safe and autonomous
How Aurix helps global transition to cryptocurrencies
While crypto adoption as a payment method is on the rise, the distributed ledger technology (DLT) still faces an uphill battle in bringing liquidity, low volatility, and easy integration of crypto assets to the financial system.
Most of these problems are solvable through blockchain interoperability, which is at the core of the Aurix exchange platform. The platform offers high liquidity and faster trading; hence users can buy and sell crypto and digital chips in less than a second. This goes a long way in addressing most people’s wariness of losing coins when trading because of crypto’s high volatility.
Besides, Aurix has invested in design, thinking to make its platform more user-friendly. This is key as crypto adoption grows beyond the tech-savvy audiences, i.e., from optimizing their platform for various monitors, to making it adjustable so that it suits user preferences.
The ecommerce sector is key to the global transition to cryptocurrencies, especially as more senior executives consider incorporating crypto into their business models. Aurix’s unique shop plugin-in will allow businesses to accept cryptocurrency payments for their services.
The platform also offers an Aurix Visa or Mastercard Card (without annual fees)that allows users to pay with crypto like they would with fiat currency. The card also offers DeFi cashbacks when the users use it for transactions. These incentives are crucial in the future sustainability and growth of crypto exchange platforms.
What’s more, Aurix currently offers users a utility token — the Aurix token (AUR). The token holders enjoy discounts on trading fees, depending on the amount of Aurix token held and staked.
Crypto tokens have played a huge role in bridging the gap between blockchains and real-world financial systems. The Aurix token can be traded with the major cryptocurrencies such as BTC, ETH and USDT, and fiat currency. Besides, the more AUR you purchase and stake, the better trading fees and rewards you receive from the platform’s De-Fi ecosystem.
Such incentives will encourage more users and merchants to use crypto in their daily transactions as they capitalize on the DeFi cashback benefits.