Traders need crypto exchanges that don't force a choice between security and usability. Encrybit, a Hong Kong startup, surveyed 1,108 people and uncovered persistent gaps: 40 percent ranked security a
Traders need crypto exchanges that don't force a choice between security and usability. Encrybit, a Hong Kong startup, surveyed 1,108 people and uncovered persistent gaps: 40 percent ranked security as a major concern, 37 percent complained about high fees, 36 percent cited low liquidity, and 22 percent lacked sufficient trading pairs.
The problems extend across markets worldwide. Encrybit conducted a second survey reaching 10,000-plus traders across 160 countries. Fifty-seven percent reported using three or more exchanges. They juggled multiple platforms out of necessity because no single operator offered adequate trading pairs and sufficient liquidity.
Mt. Gox's collapse, Coincheck's hack, and Zaif's breach showed why traders prioritize security. New users entering the space want platforms combining robust security infrastructure with intuitive navigation, quality charting and technical analysis tools, clear fee structures, and integrated social trading functionality.
Encrybit built its offering around those needs. The exchange supports social trading, a broad order book, smart alerts for price movements, coin comparison tools, advanced order summaries, crypto radar for market signals, and a multi-window layout displaying up to six charts at once. The platform consolidates all features on a single page.
ENCX, the exchange's native token, anchors its economic model. Traders using ENCX receive a 50 percent reduction on trading fees. The base fee sits at 0.1 percent, dropping to 0.05 percent with ENCX.
Every three months, Encrybit dedicates 10 percent of quarterly profits to repurchasing ENCX tokens. The total token supply caps at 270 million units. According to the whitepaper, ENCX administrates exchange operations while determining revenue streams across trading volume, coin listings, and other platform activities.
The team includes former employees of Bank of America, Bloomberg, PayPal, eBay, the London Stock Exchange, Citi Group, and the National Stock Exchange USA.
The company said the exchange emerged from trader feedback. In a statement, Encrybit emphasized: "Encrybit is merging all their problems and expectations as solutions in the form of a Encrybit cryptocurrency exchange." The platform design drew directly from surveys asking what traders needed.
Encrybit splits the fundraise into three distinct phases. The private sale closes December 14, 2018. A presale window then runs from December 15, 2018 through January 31, 2019. The public sale opens February 1, 2019 and closes March 15, 2019.
