The developers of CryptoSouk want to build a next-generation digital assets exchange that caters to the needs of traders of all skill levels. Their aim is to make digital coins accessible to all. The team is dedicated to enhancing the trading experience with quick trade executions, great customer service, fair pricing, endless improvements, and creativity.
Existing Issues CryptoSouk Seeks To Solve
Holding, purchasing, and selling crypto is difficult. There are numerous DEX being developed but most of them often suffer from a lack of liquidity. In the Middle East, the developers of this platform think that more active traders and investors are in search of a higher touch. They are in dire need of an easy trading partner that matches their existing expectation of being part of the financial markets. Customers of this exchange also want to know there are local people in the region that can talk to, who understand their customs and language.
The State Of The Market
The crypto exchange market is going quite fast. One of the biggest exchanges today, Binance, announced that they acquired more than 250,000 customers in just one day. Coinbase had more than 20 million accounts and 52 million tokens in its management by May 2018.
The top 10 crypto exchanges globally are close to generating over $1 billion in fees a year. In essence, the size of the entire market is growing exponentially. The opportunities for exchanges globally to increase their market share are numerous.
The CryptoSouk Solution
Crypto Souk will be a crypto trading platform. The exchange will launch at the start of Q3 2018. At the start, it will have trading pairs, which support Ripple, Dash, Bitcoin, Ethereum, Monero, and Litecoin.
The company has plans to add trading support for other crypto coins after a careful examination. This exchange will also allow account loading by crypto or fiat. The developers have also picked partners, who will help them deliver the exchange, liquidity, and wide array of funding options.
The founders believe that they will continue to grow in the region based on various competitive factors. First, they will allow the transfer of fiat in and out of the exchange in the cheapest way possible. To make this a reality, they will look for partners and tools that can help to lower costs, thus making redeeming or funding via fiat easy and cheap.
Secondly, the founders believe that although not all crypto coins are worth listing, the diversity of trading pairs and crypto assets is important for consumers when picking an exchange. Thirdly, the creators of the exchange believe that great customer service matters. Thus, they plan to make a huge investment in customer service. Lastly, the team’s local knowledge of KYC and AML rules will be an important factor in offering a frictionless user experience.
CryptoSouk SOUK Token ICO Details
Parameters Of The ICO
- Token Ticker: Souk
- Token Type: ERC20
- ICO Price: 1 Souk = $0.50
- Pre-Sale Price: 1 Souk = $0.375
- Soft Cap: $1M
- Hard Cap: $11M
- Pre-Sale Date: July 9 – August 8
- Main Sale Date: August 22 – September 21