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An exchange says cultural and linguistic barriers are stopping blockchain technology from thriving worldwide and has launched a platform to reach the masses.
The crypto markets have been something of a rollercoaster ride recently, with the price of Bitcoin recently tumbling to its lowest level since October 2018.
But despite the doom and gloom, enthusiasm and optimism about cryptocurrencies’ potential remain – so much so that one expert predicts Bitcoin will rally back to $15,000 by the end of the year.
One thing that has stood in the way of crypto’s growth as a dominant worldwide force is how it has struggled to transcend cultural and linguistic barriers in certain countries.
According to Biztranex, a crypto trading platform, this is the case in Vietnam – where it says the levels of innovation seen in blockchain technology are “unmatched with the real capacity of Vietnam’s market.”
The company says Vietnam is an emerging market for Bitcoin in southeast Asia, and it plans to capitalize on this by offering an innovative exchange that provides first-class analytical tools and top-tier security, with a four-step KYC protocol protecting investors.
Optimized for traders in Vietnam to meet market demand, Biztranex offers cutting-edge tools including ChartIQ, an advanced HTML5 charting system that delivers “ultimate control and quick comprehension” for traders looking to get a headstart in the market.
Broadening crypto’s horizons
As well as being an exchange with global ambitions, Biztranex says it wants to stand out from the crowd by tailoring its service to Vietnamese speakers – enabling them to access technical support and financial services in a language they understand. Underlining the platform’s ambitions to expand internationally, an array of other languages are also available – with Russian, English, Portuguese, Chinese, Turkish and Korean among them.
The company claims to offer “the most liquid order book in the world” – a place where Bitcoin, Ethereum, Ripple, Litecoin, EOS and other digital assets can be exchanged. Biztranex says it also values suggestions from its community and is prepared to list new assets if they gain a “considerable amount of support” from users.
In addition to features that expert crypto users have come to expect from exchanges, such as cold storage and investment funds, the platform has created what it describes as a “social network for ICOs.” Here, each initial coin offering taking place on Biztranex is given its own profile which enables the community to receive direct updates and get in touch with startups if they have questions.
The ecosystem is also geared towards helping inexperienced users become more accustomed to crypto trading by enabling them to “benefit from the expertise and knowledge base of experienced market practitioners.” For time-poor users who have a good understanding about cryptocurrency but lack the time to research the market, an Auto-Trade tool will enable them to automatically emulate top traders who are rated based on their past performance.
Explaining its motivations in a blog post, the Biztranex team wrote: “The world needs a next-generation cryptocurrency exchange which is innovative, fast and easy to use and understand.”
The company has a multiplatform mentality and wants its exchange to be available on every screen. In time, Biztranex says users will be able to download optimized versions of its software for Mac and Windows computers, as well as smartphones running iOS and Android.
A plethora of use cases
In addition to its exchange, Biztranex is creating a suite of complementary services – making it easier for consumers to spend their crypto and for merchants to accept it.
One of them is B9Pay, a payment gateway which enables merchants to receive their funds in crypto and “spend directly where they earn.” This is going to be accompanied by the “highly secured, multicurrency” B9Wallet. Through the B9Shop, businesses will also be able to support crypto payments on their own websites.
Biztranex launched in Vietnam back in August, and the platform says it has developed a business plan – coupled with investment in technology – to help the nation’s market thrive and cement its position as one of the leading lights of crypto on the international stage.
Looking ahead, the team have set their sights on building a major brand – setting the objective of becoming one of the world’s top 10 crypto trading platforms within a year.
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