According to a report by Sanford C. Bernstein & Co , cryptocurrency exchanges will double the profit this year compared to the previous one and will exceed $ 4 billion . In addition, it is noted that the decline in interest in the cryptosphere is greatly exaggerated . Based on the key events on the crypto market in 2018 and the opinions of analysts, let us consider what prospects are expected in the future .
Important points of the year for cryptocurrency
One of the most anticipated events is still the emergence of institutional investors on the market . The financial media is closely following the US Securities Commission (SEC) , which must approve applications for launching a crypto ETF , Goldman Sachs is keenly interested in this area. Everything goes to the fact that very soon kryptranok can get a second wind with the money really big players.
More and more regulators around the world are adopting laws regarding the use of cryptocurrencies, and “classic” companies support projects related to the blockchain. So, traditional banks are already supporting the large American stock exchange, Coinbase , which can make it the undisputed leader in this field.
The demand for cryptocurrency assets has increased significantly , and users more intelligently handle their savings and deposits. P public cryptocurrency exchanges are developing, providing more functionality and a more serious level of protection. Pyotr Grubber , the owner of Deex , a large decentralized crypto exchanger, focused on these things . He noted that among those who interact with cryptocurrencies , fewer passive participants. People are more deeply exploring the issues of investment in cryptoactives, ways and strategies of trade. According to him, more than 80%crypto traders are not limited to work on the same site. In part, this can be explained by the fact that not all coins are represented on the same stock exchange, so you have to use different platforms for individual tokens.
Xena Exchange Operations Director Konstantin Finn also voiced that cryptocurrency exchanges are doing a lot of work to improve their platforms . The internal interface is being improved and, more importantly, much attention is paid to the protection of users’ personal data and the safety of their deposits. At the same time, there are still problems that relate directly to the execution of transactions. This is primarily due to the fact that the sites are still quite simple functionality. It does not allow more experienced traders to implement all their strategies.
Will decentralized cryptocurrency exchanges gain popularity?
One of the first questions a crypto trader faces is which trading platform? Globally, cryptobirds are divided into two types: decentralized (DEX) and centralized (CEX) . It is quite possible that in 2019 we will see the launch of full-fledged hybrid stock exchanges (HEX) , but at the moment DEX exchanges are of more interest to the crypto community.
Peter Gruber said that the activity on such sites will only increase. This is primarily due to the fact that on decentralized platforms, the disadvantages that CEX has are eliminated . This includes the speed of conversion of cryptocurrency , security issues and the presence of third parties during transactions. The main disadvantage lies only in the complexity of their development. But at the same time, user data on DEX platforms is more protected.
Konstantin Fin noted that in case of the growing popularity of DEX sites, centralized cryptocurrency exchanges will not lose their clients. In CEX and DEX has a different functionality, whereby they can not be regarded as competitors. Each type of platform gathered around its audience. Konstantin voiced that he sees no point in decentralization of the exchanges themselves. The main need is to decentralize the storage of customer deposits.. For the classical economy is absolutely normal, when the assets of customers and companies are stored separately. He also stressed that by and large, DEX platforms are more like decentralized exchangers with a high load. They will definitely attract their audience, but this will not affect the development of centralized exchanges.
Will the problem with password loss be solved?
Despite the fact that market participants cryptocurrency are becoming more advanced, the number of cases of loss of confidential data is not reduced . Every day, popular cryptocurrency exchanges receive tons of letters about the loss of access to sites and cryptocurrency wallets. Maria Stankevich , a representative of the EXMO cryptocurrency exchange , noted that until now the human factor, along with the hacker attacks, affects the loss of cryptoactive assets.
Users constantly receive newsletters and recommendations on how to increase the security level of their account. It recalls how important it is to connect two-factor authentication . Despite all this, traders put easy passwords and use them not only in the account of the exchange, but also in the e-mail box. According to the EXMO cryptocurrency exchange , only 15% of clients have connected two-factor authentication ! There are often cases where the password is simply written somewhere on a piece of paper, is lost successfully, and with it access to the account is lost.
Peter Gruber notes that the platform Deex is constantly working to improve the educational process in this direction. Unfortunately, so far it has not helped to completely eliminate cases of the loss of critical data.
General prospects for the cryptocurrency market
In general, many experts and representatives of the cryptosphere voiced positive forecasts for 2019 . More and more traders pay attention to cryptocurrencies. In the market there are really large players and their number is only growing. Very soon institutional investors with large capital injections can be expected here.
It is important to note that the number of professional crypto traders, who at a high level understand the specifics of this market and the specifics of working with digital assets, is increasing. This can significantly affect the trading style and behavior on cryptocurrency exchanges. People are exploring options for making transactions, investment opportunities and stimulate the development of the entire market as a whole. Without a doubt, we can say that the year 2019 for cryptoactive assets will be full of important events, and active market participants will be able to make good money on this.