Crypto-Trade v2.0: A fresh start
Crypto-Trade was established in May 2013 with the intention of creating a publicly traded Bitcoin and Altcoin Exchange. The ‘People’s Exchange’ so to say, where users would not only trade their Cryptocurrencies for Fiat Money and Bitcoin, but also share its success by earning regular dividends. With their two IPOs, namely CTB (Crypto-Trade Bitcoin) and CTL (Crypto-Trade Litecoin) the developers wanted to ensure that their shareholders are given a fair share of the exchange’s net profits. But as Burnside announced the closure of his well known Virtual Stock Exchanges btct.co and litecoinglobal.com, Crypto-Trade had to react to give their assets a new home. Due to a lack of alternatives, they decided to build their own Securities Hosting Platform directly interleaved to their Bitcoin Exchange and to open it for everyone who’s willing to start or host a Bitcoin related assets on Crypto-Trade. This step was taken in November 2013, and even if the development was mandatory, it threw their original plans for evolving the exchange back for some months. Shortly thereafter Bitcoin was in serious trouble due to Malleability issues – and Crypto-Trade suffered with it. To keep everything as secure as possible for their users, Crypto-Trade devs decided to handle almost every transfer by hand until all problems were solved. So, again, there was no time to evolve the page and implement all those features they were planning on for so long.
After all these hurdles have finally been overcome, Crypto-Trade has now released version 2.0 of their Bitcoin/Altcoin Exchange and IPO Hosting Platform, which introduces a significant set of new features and improvements. Compared to their previous website, ‘v2’ more a complete overhaul in terms of design, speed, stability and transparency than just a new version. With their tiered membership system (bronze/silver/gold/platinum), users can lower their trading fees down to attractive 0.02%. An Altcoin voting system lets visitors decide which Altcoin they would like to see next on Crypto-Trade. Better usability on mobile devices as well as a more intuitive interface, were also two frequently requested features the devs took care of. User-to-user share transfers were implemented as asked by asset owners. And with their newly designed friend referral page, users are able to get commissions of up to 25% on their friends trading fees. But most important: Crypto-Trade is running fast and stable since its release – All that’s missing now is more frequent traders to increase the overall volume!
Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker. It is a very modern notion that exploits the power of the long tail.