A new cryptocurrency exchange seeks to compete with the traditional banking system by providing features to help crypto investors carry out all of their activities on the platform.
The exchange, named IXFI, was launched at the beginning of December 2021 and can be accessed by users worldwide. The firm has obtained an operational license in Estonia and is set to reach the world soon.
The crypto industry has been touted to replace or at least partially eclipse the current financial system in the future. For now, however, investors can only allocate capital in cryptocurrencies through decentralized and centralized exchanges that provide secure markets for trading and exchanging digital assets.
For more people to trust crypto enough to adopt it as a banking system, there are certain conditions that are non-negotiable. These are security and safety, high liquidity, the convenience of use, and superior benefits when compared with the current financial system. This is what IXFI aims to achieve.
According to the founder and CEO of IXFI exchange, the goal of the crypto exchange platform is to make it easier for old and new crypto inventors to explore the market in a secure environment. Andrei said that IXFI will strive to unleash the true power of digital finance by creating an ecosystem where cryptocurrencies can thrive.
How Will IXFI Rival Traditional Banks
Today, four of the core features of banks are fast and easy transactions, debit and credit cards, annual interest on accounts, and funds storage. According to the information on the official website, users will have access in the future to the following features:
Staking with higher APY
On IXFI, users can wager their tokens to earn rewards. It’s a simple and less risky way to earn more chips while keeping the funds intact. It is common knowledge that the annual percentage return (APY) of crypto is higher than the APY offered by traditional banks.
Crypto Cards
IXFI users can order crypto cards that will be delivered to their physical addresses. The cards will have full functions and industry-standard security protocols. The issuance and use will be subject to regional regulatory agencies and their decisions. With this card, individual users and financial institutions can send and receive money. The feature is being developed and will be rolled out in 2022.
Unparalleled Transactions
On IXFI, registered users can simply transfer funds without using dedicated wallet addresses. Ut users can also store their digital funds using their own account wallets. Strong security protocols protect funds against loss.
Crypto Will Rival Banks
Today, the volume of investments in cryptocurrencies has speedily surpassed that of many other industries that have existed for centuries. Indeed, the lure of high ROI is too much to be ignored by investors. This is not to belittle the risks of cryptocurrencies, but many investors think that they are better off with cryptos.
A growing number of crypto companies are now thinking along the same lines as IXFI: bringing traditional banking functionality to crypto. The result will be massive interest in cryptocurrencies which will cause a massive exodus from the traditional banking system in the future.
But before then, crypto firms will work on developing these features and hone them until they can offer investors a safe and smooth ecosystem to explore the revolutionary digital financial system. IXFI and others may be in the lead for that future event.
