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What’s Encrybit?

Encrybit is an upcoming cryptocurrency-trading platform, which points to implement the best of all current exchanges plus much more. The team’s approach to this project is one of the best ever seen, they thought in order to know what the community needs when comes to exchanges, the best thing to do is a rewarded survey, therefore, they came up in April 2018 with the first evaluation survey, which asked about current problems in regards to cryptocurrency exchanges.

  • Link for the complete survey insights below:

https://encrybit.io/insights/crypto-exchange-problems.html

The response was good, seeing 1.000 participants giving their precious feedback about this topic, but the best results came in the second survey, which happened in July and saw 10.003 participants. This massive aggregation of feedbacks gave a very important insight about how they should structure the platform in order to give the best trading experience.

  • Link for the complete survey insights below:

https://medium.com/@enbofficial/encrybit-cryptocurrency-exchange-evaluation-survey-2018-global-analysis-insights-b53c16abb106

Problems

Nowadays, an exchange platform is the main gateway for cryptocurrency purchase and trade; it usually provides you with the tools you need to analyze technical and fundamental aspects in order to make a better choice in your trading.

Unfortunately not all the exchanges prompt the right tools and features for the best trading experience. Many exchanges have a basic platform with just a few TA tools and a confusing and undersized chart section. Another main problem, especially for the day-to-day traders, is the fee; most of the exchanges have giant fees for trading and withdraw, reducing the total daily profit made by traders.

Other than fees and TA tools, the main problem with current exchanges is the engagement and user-friendliness, which is missing or not very present for traders. An exchange platform is not just a place where people trade the cryptocurrency and that’s it, it must be also a place where they can get engaged through activities, news, and educational sections, and analysis from experts.

Solutions

The Encrybit Exchange Platform points to solve all these issues making the trading experience much more engaging and keeping the users in the platform with many activities and useful sections provided for the best educational and informative purpose.

The platform will provide a massive amount of features, TA tools, giveaways and analysis from experts in the trading industry. The users will have all they need in one page, ready to be used with no need to switch tabs or use third-party software through their APIs. No need anymore to pay monthly memberships with websites like Conigy, just for the necessity of a better and more comprehensive chart.

This platform points to be the one-stop platform for all kinds of traders, who want to enjoy the cryptocurrency trading in a safe, educated, stressless and enjoyable way.

For more details about all the Encrybit’s features and tools check here:

Encrybit’s Features

Let’s have a look at the main features of the Encrybit Exchange:

  • Implementation of TA tools like never seen before, in order to avoid the usage of third-party platforms;
  • Much more detailed and comprehensive order book;
  • The social trading feature, with actual cryptocurrency and not CFDs;
  • News and the educational section for newbies;
  • Encrybit Lottery with quarterly extractions (4 every year);
  • Token Burning pointing to burn 50% of the total supply;
  • Multi-layer firewall, Multipledatacentres, and Watchdog algorithms;
  • Multilingual customer service;
  • Encrybit Utility Token used for 50% fees discounts…and much more!

The Encrybit platform has already a prototype which can be seen contacting directly the CEO, it shows how the team managed to create a beautiful user interface where you have all the tools needed for trading, informing yourself, analyzing the market and the different coins and tokens, all in one page and all available through different menus and buttons without the need of switching tabs or open different pages and websites.

Who is Behind the Project?

The Encrybit team has a solid background, since it’s already part of an established company called M-Connect Solutions, active since 2009. M-Connect Solutions is software Development Company having extensive experience is versatile domain include web and mobile development, custom software development, e-commerce and banking, and exchange software.

During ten years of successful journey in the different type of custom software development,

M-Connect has a huge clientele across the globe including USA, UK, Australia, and Canada.

Team

Jiten Rajput is the co-founder and CEO of Encrybit, a research-based Cryptocurrency Exchange.

He firmly believes to stay updated with trending technologies and thus can’t keep away from blockchain and cryptocurrency. He is an established Blockchain Consultant, Researcher and Member of the British Blockchain Association. Encrybit grows under his expert guidance.

Yogesh Trivedi is COO at Encrybit.

Having experience in both Web development and Blockchain specifics, Yogesh skilfully handles the position of Speaker and Strategic Advisor for Blockchain and E-commerce. He believes in innovation and adopts a business-centric approach to sustain in the competitive market. His role at Encrybit is to look after ICO strategies, project investments, and the blockchain backbone.

Darshit Parmar is the CMO at Encrybit.

Having zest and zeal for Blockchain, he has skilfully acquired the membership of Blockchain Council and IBM Blockchain Essentials. He was previously associated with the marketing of E-commerce projects and thus possess a creative niche in the field of SEO. Currently, he focuses on building the brand for Encrybit, an upcoming Cryptocurrency Exchange.

Monika Macwan is a Strategic Business Growth Hacker and Influence ICO Marketing Manager at Encrybit.

She is also a Country Manager at Eucc.eu and Member at IDACB. Monika is primarily engaged with creating a strong contending position of Encrybit and its ICO in the Cryptocurrency market. Her ability to build relationships for the company with clients and company strikes the deal.

For more information about the huge team and advisory board check here: https://encrybit.io/

Encrybit Events and News

  • Encrybit joined the World Blockchain Summit in Singapore as Supporting Partner:

https://medium.com/@enbofficial/encrybit-is-glad-to-join-world-blockchain-summit-in-singapore-as-supporting-partner-70c71cbc6a90

  • Encrybit is Glad to be Part of the Block Hedge Asia 3rd Edition as the Technical Sponsor:

https://medium.com/@enbofficial/encrybit-is-glad-to-be-part-of-the-block-hedge-asia-3rd-edition-as-the-technical-sponsor-292df38070f

  • A Modern Cryptocurrency Exchange: Interview with Jitendra Rajput, CEO of Encrybit:

https://twitter.com/enbofficial/status/1052888045760974848

  • The Encrybit Private sale starts on 1st Nov 2018! Get ready to participate in the world’s first research-oriented cryptocurrency exchange:

https://twitter.com/enbofficial/status/1057849479876014080

The community around it:

Twitter: 7.6K Followers

Facebook: 932 likes

Telegram: 16.7K Members

Token Sale and Allocation

Private Sale start: 1st November 2018

Private Sale end: 3rd December 2018

Round 1 Pre-sale: Q4 2018

Round 2 ICO: January 2019 – March 2019

Name: Encrybit Token

Identifier: ENCX

Token Price: $0.2 USD

Total supply:270.000.000 ENCX

Currenciesaccepted: BTC, ETH

Minimumcontribution in Private Sale: 50 ETH

Roadmap

Competitors and Comparison

The competition in this space is absurd, there are so many exchanges we’ve lost the count, this business turned out to be very profitable, millions of people exchange every day cryptocurrency around the globe and that is just the beginning, as far as we know less than 5% of the global population uses cryptocurrencies, therefore, the room is still massive for everyone. The major competitors, considering the different features, are:

Binance

Binance exchange is considered right now one of the best cryptocurrency exchanges out there with Huobi and Bittrex. Its team is very skilled and CZ (Changpeng Zhao), the Founder and CEO, is a 41-year-old Chinese-Canadian coder, who cut his teeth building high-frequency trading systems for Wall Street’s flash boys. The exchange reached massive profits becoming the best cryptocurrency exchange platform in 180 days from its ICO. Although it’s a great platform, still lacks in features like the social trading, which will be the main feature of the Encrybit platform, a wider and more detailed order book, and more detailed and user-friendly interface.

eToro

eToro is a famous platform where the users can use the social trading feature, copying the others trades and gaining profits when the copied trader gets profitable. Unfortunately the fees on the platform are very high and the traded cryptocurrencies are not the actual one you think you’re buying, instead, you’re buying a CFD, which is a contract and not the cryptocurrency, that’s why they assess your knowledge of the CFD contracts while registering on the website.

Conigy

Conigy is a charting platform, which is used with the APIs from the exchange you have the funds on. The first issue is the membership, you must pay monthly in order to get access to the platform, the second and most important issue is the usage of APIs, which is always a risk, since many hacks and the consequent loss of funds, happened because the users traded with their APIs on third-party platforms. That shows how the lack of a proper chart with its TA tools can bring different issues to the traders.

Conclusions

The Encrybit cryptocurrency exchange looks very interesting and promising, with a focus on what the cryptocurrency community needs when we talk about exchanges and trading experience. The team said their main objective is being in the top 10 best exchanges by 2021, therefore, we can differentiate this project from many others for their humbleness in the approach to it; rather than saying “we will be the best exchange ever”, they try to be more realistic and honest, building a platform, which could be the ultimate place where the traders can trade, look at more expert traders, get educated and see some profits as well.

Contacts

By Marco Di Maio

Rating

7.2

PLAN

8.0/10

TEAM

8.0/10

MARKETING

9.0/10

MARKET ENVIRONMENT

9.0/10

COMPETITORS

2.0/10

Pros

  • A huge team in constant expansion with a background in Forex and Stock trading (27 members + 7 Top Class Advisors)
  • Beautiful and user-friendly UI with many features
  • Huge market in constant expansion
  • Many features that lack in other exchanges

Cons

  • Huge competition
  • Exchange release in late 2019