Where the cryptocurrency industry is heading and what role exchanges play

— The first question could not be another but about the platform. To date, according to CoinMarketCap statistics, there are over 250 exchanges that support active trading, meanwhile only a year ago this number was slightly above 200. So the number of cryptocurrency exchanges keeps growing as well as the number of hacking and embezzlement cases. Exchanges are losing investors’ faith. The natural question then was why did you decide to enter the market and launch another exchange — BTCNEXT?

Rus Inozemtsev:

— I was expecting this question and I am actually very glad you’ve asked it! Despite the fact that the number of exchanges has literally exploded, like the aftermath of a Digital Big Bang, most of the options still lack some basic features, such as security, user-friendliness (by that one should understand an intuitive design), and mostly good customer service. You may probably ask, what makes us different? Well, the vast majority of our team members are in the crypto industry since 2011, so they have already been through thick and thin. We know at first hand that there are hundreds if not thousands of scammers on the market. We have seen how perspective companies failed because of bad customer service. Exactly for that reason, we have decided to start our very own cryptocurrency exchange, which takes into account all the mistakes of existing solutions. Our platform is based on three pillars: honesty, transparency, and fulfillment of all the commitments. We are not waiting for the future to come; we are already working on building it.

— It all sounds very nice but our readers would like to see a little confirmation of these statements. Please, tell us about BTCNEXT’s developers — are they qualified enough to reach the project’s goals?

Rus Inozemtsev:

— Our team of developers includes over 20, carefully selected, heads, that are capable of delivering a flawless product that will bring value to our customers and industry as a whole. Keep in mind that the path to complete decentralization and achieving the full promise of the blockchain is not as easy, so if we make even a small mistake at today’s historic turning point it can bring terrible consequences for our platform and for the people who are using it. To exclude this possibility, our tech team double checks everything for core bugs and code quality issues. Without a doubt, we will solve any technical task that will arise before us.

— Do you think it is a good time to launch a new cryptocurrency exchange? Let me clarify the question. It is true that the current year looks a bit more promising than the second half of 2018, but still, we haven’t seen real signs of the long-term bearish trend ending.

What are the global trends — could you share some “insider” information with us?

Rus Inozemtsev:

— I would like to begin by saying that the cryptocurrency industry, just like the free market, is self-regulating, thus there is no authority to hold the industry to account. However, the year 2018 has proved that regulatory oversight is essential to ensure consumer safety. Investors want to be sure that they are guarded against malpractice and scammers. As a result, we have grown to the point where the impact and the fear of the unknown have forced regulators to begin taking actions. Thus, the crypto market is gradually becoming more like fiat industry.

Regarding the current market situation, people still have plenty of money that they are ready to invest. However, owing to the declining credibility in ICOs, it got way more complex to raise a large amount of money. To solve this problem, ingenious crypto enthusiasts created the Security Token Offering (STO), where the crowdfunding campaign should be registered with the relevant authorities and the issuer of the security token should disclose all of the required information and assume all of the responsibility that comes with issuing security. It shouldn’t be a surprise, then, that it has not gone off.

Thankfully, with the emergence of Initial Exchange Offering, contributors can feel safe and comfortable, as the project’s legitimacy is guaranteed by the trading platform. It could not but increase trust in a new method of crypto crowdfunding, as in case of problems crypto exchange’s reputation is on the table.

That is why we have elaborated a white label dashboard for an IEO. It allows cryptocurrency exchanges to conduct an IEO, specifying the stage, bounty program, and the rest of terms and conditions. Our platform also provides all the necessary data about investors and transactions in one place. Safety is assured by not storing funds and private keys and sending them straight to wallets instead.

— What do you expect from the major cryptocurrencies? Do you think it is a good time to invest in digital currencies?

Rus Inozemtsev

— As it is popular to say now, it is not financial advice and whether to invest in the project or not should only contributor’s decision. From my point of view, the picture had remained the same. But that I mean that Bitcoin, Ethereum, and probably EOS together with XRP are the most promising cryptocurrencies on the market. However, professional speculators are capable of making money with low trading volume coins.

At the same time, I believe that stable coins are also very promising. They have advanced as a new iteration on cryptocurrencies, enabling to address such issues as high volatility and interactions with legacy financial systems. For those who don’t know, we have created a decentralized stable coin called USDQ. One of its main features is being backed up by Bitcoin (and other top 10 cryptocurrencies in the future).

— I have one final question — How will the crypto world look like in 3–5–10 years? What are your dreams and expectations?

Rus Inozemtsev

— Just like any crypto enthusiast, I hope that one day Bitcoin will be worth US$1,000,000. For that purpose, I personally have a couple of Bitcoins I do not touch no matter what. But I understand that to make this dream a reality, we need to work hard in order to guarantee the robust growth of the crypto industry. The BTCNEXT team will try to make every effort to achieve this goal. Unlike many of our “colleagues” and competitors, we are actually on the development of a trustworthy platform now.

BTCNEXT exchange is a cryptocurrency trading platform designed for the beginner and delivered by experts. In order to protect investors’ funds, BTCNEXT developers have implemented more than 300 security measures. In the near future, users will be able to trade over a hundred types of tokens including Bitcoin, Ethereum, and Litecoin. For more information, visit their

website and follow them on Twitter, Instagram, Telegram, Facebook, Medium or LinkedIn.

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