CryptoSouk | A Middle East Blockchain Based Ecosystem

CryptoSouk ICO Review, Blockchain, Cryptocurrency

Crypto Souk is a blockchain based ecosystem which serves as an exchange specifically for the Middle East experienced traders. To attract the local traders of the area, the medium of information will be the Arabic language. The platform has an edge to attract locals by providing trading pairs in Dirham (all popular trading pairs are also available) along with local fiat transfer support. The exchange’s distinguishing feature is its liquidity, ease of transfer in local and international fiat currencies, security and Arabic support. Among the seven competitors, there is not a single exchange equipped with the features offered by Crypto Souk.

Distinguished features of Crypto Souk

The exchange initially offers trading in Bitcoin, Ethereum, Ripple, Monero, Litecoin, Dash, and Zcash. The platform facilitates the transfer of local fiat currencies such as Dirhams, Dinars, and Riyals as well as international traditional currency, such as USD, to and from the exchange in an economically viable environment. The technology behind the system enables to execute 1 million transactions per second with more than 20 trading options including Fill, Stop, Limit, IOC or Kill to name a few. It also uses advanced APIs to get access to liquidity and provide it to others.

Focusing on the key problems

As we know that the most striking problem of trading is to provide sufficient liquidity to its traders. As a rule of business, more liquidity means more trading opportunities and level playing field among traders from other exchanges. The ecosystem deals with this issue at priority to attract local traders who have been waiting for a promising venture of such kind. It will surely meet their expectations and build a strong connection among other traders through its support of the Arabic language.

Newcomers will feel comfortable by seeking advice from the experienced ones in a language that they are most comfortable in.

A next-generation exchange

The platform is well equipped to provide all the options to the community with a commitment to offer more digital assets as an option in its roadmap. The purpose is to make digital currency conveniently accessible to everyone. The customers will be having a great experience with fast trade executions, quality customer service, fair pricing, liquidity and multiple trading options. The rich array of features allows the novice traders to seek assistance from experts as well as use the features of the platform. It also offers multiple integration compatibility for KYC/AML, PSPs, and banking.

Market potential

The team has rightly chosen the business model of the trading platform because digital currencies are becoming popular. Only on Binance, there are more than 250,000 new customers joining in a single day and Coinbase has more than 20 million accounts. The potential is encouraging for Crypto Souk team to establish an exchange which specifically answers the problems of the local traders. According to Bloomberg’s analysis, there are more than ten exchanges which earn more than $1 billion annually through trading fees. Observing all these figures, it could be confidently concluded that Crypto Souk will grow in the near future.