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The experience of buying and selling cryptocurrencies is as much of a barrier to the expansion of cryptocurrency trading as the relative novelty of the entire concept. While it is no doubt a more recognised and even well regarded market activity, with organisations such as the Chicago Board Options Exchange (CBOE) recently offering the world’s first official cryptocurrency futures contract, and several exchanges opening almost every other week, it is still very much a niche market position to engage in substantial buying and selling of cryptocurrencies.
When compared with the market volumes for trading fiat or other stores of value like precious metals, the total cryptocurrency market capitalization of $471,511,748,724 is little more than pocket change. To put it in perspective, the total market capitalization of Bitcoin, which is by far the world’s most popular cryptocurrency is $166 billion, less than the $171 billion market cap of MasterCard, which is not even a fiat issuer. Clearly, despite the leaps and bounds that have been recorded in the growing success storyof trading cryptocurrency on the open market, a substantial amount of work still remains to be done.
Many reasons exist for the persistence of a gap in market adoption and participation, but perhaps one of the most ubiquitous and detrimental is the sheer difficulty of actually participating in the cryptocurrency market trading space. Due to a lack of regulation stemming from the decentralized nature of tokens, the market is crammed with a vast number of competing platforms and exchanges, all claiming to do certain things which many of them glaringly fail at.
For example, the sheer amount of operational friction involved in carrying out a simple purchase transaction is enough to put off many first-time investors and market participants, especially those who do not understand the cryptocurrency ecosystem in detail and those who are used to the structure and order in a regular stock market. The speed of transactions on many platforms has often gained notoriety for creating severely dissatisfied users who had to wait for hours, days or even weeks for a single transaction to trundle its way through.
In the midst of these delays, the dynamic market keeps changing. sometimes literally minute-by-minute, which severely compromises the investment position of the user and makes them unlikely to return as market participants again. Some users have even found out to their great personal cost, that while cryptocurrency tokens themselves cannot be hacked or duplicated, they can be stolen from digital wallets that do not have adequate security. So when executing cryptocurrency trades, it has been known to happen that the trading platforms or exchanges used suffered a severe security breach, sometimes with hundreds of millions of dollars’ worth of user cryptocurrency being stolen.
Amidst the unique crypto trading environment of unmatched optimism mixed with real risks and horror stories, the challenge is to create a solution that offers all users quick, easy and secure access into the cryptocurrency marketplace with zero fuss and very low risk. This solution would need to cater to both veteran participants in the ecosystem and new entrants into the market, giving both an equal chance to compete. The security on this platform would substantially preclude the possibility of a devastating failure that would compromise user assets and disrupt the user experience.
Taking all these problems, challenges and needs into consideration, SLT has been developed as a trading platform offering users the power to buy and sell digital tokens to each other. Making full ue of the security and data processing advantages offered by the Blockchain, SLT proposes to revolutionize the experience of market participation in cryptocurrency trading by making it easily accessible to all types, classes and grades of users, safe and free of potential security failure points, and with a wide scope of application and uses within the ecosystem.
The team behind SLT has several years of online work experience, and what unites all of them is a shared experience of the same operational problems present in terms of investing in the cryptocurrency market. SLT is the result of years of thought and research into how to adequately solve the problems once and for all and even create extra value for market participants into the bargain.
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