Crypto-currency exchange CryptoMarket has reactivated operations on its new platform after overcoming technical difficulties at its launch last September. The company, which operates in Argentina, Chile and Brazil, is focusing its efforts on improving the quality of its services and plans to extend its services to Peru, Mexico and Colombia.
The bureau de change’s new platform is ‘100% operational and has the capacity to process 100,000 transactions per second. We now have the bandwidth we need as we expect there to be exponential growth in the number of customers that will be added,’ Guillermo Escudero, CryptoMarket’s country manager for Argentina, told CriptoNoticias.
The Chilean exchange, which was born in 2017 as the first exclusive Ethereum marketplace for Latin America, later added support for bitcoin (BTC), Stellar Lumens (XLM) and EOS. It now offers trading in 50 crypto-currencies, including Monero, Dash, Cardano (ADA), Litecoin (LTC), Dogecoin (DOGE) and stablecoins such as DAI and Tether (USDT).
Rafael Meruane, CTO of CryptoMarket, noted that the new interface is easy to navigate and understand for novice users thanks to the ‘simple’ option. This streamlines processes by making it possible to buy, sell or trade crypto-currencies ‘with a click’.
The brand new platform is distinguished by the introduction of innovative features designed to simplify and improve trading operations. Among these new features, the Exchange Pro option stands out, offering users a series of powerful tools to optimise their transactions.
One of the most remarkable features of Exchange Pro is the ability to use leverage. This feature allows users to increase their exposure to the market, amplifying both potential profits and risks. In addition, users can trade short, which means they have the ability to bet on the price of a crypto-currency falling, opening up new profit opportunities, even when markets are bearish.
The integration of direct connection to TradingView tools and other essential variants for traders is another major strength of this platform. This integration greatly simplifies technical analysis and decision-making by allowing traders direct access to advanced charts, technical indicators and other crucial resources without leaving the trading platform.
But that’s not all. The Exchange Pro option also introduces an automated conversion feature, which represents a major breakthrough in the crypto-currency world. This ‘convert’ functionality allows users to move from one crypto-currency to another without having to go through the process of converting to an intermediate fiat currency. With an impressive choice of over 100 crypto-currency pairs available, this feature eliminates the tedious steps and fees associated with traditional conversion. As a result, users can quickly adjust their portfolio in line with market fluctuations, with ease.
The new CryptoMarket platform: a challenge overcome
The CryptoMarket team points out that, when the new platform was introduced, problems prevented thousands of customers from trading or accessing their accounts. Some did not see their balances reflected and the company had to suspend the system for over a week to resolve the issue.
Mr Meruane explained that when users’ accounts were transferred from the old platform to the new, there were further delays ‘due to our security protocols in allocating portfolios’.
For his part, Martin Jofre, CO and co-founder of the company, said that transferring the 500,000 registered users from the old to the new system was a challenge that they managed to overcome, so that everyone can now operate normally.
With the platform upgrade, the mobile app also stopped working for Android and iOS. However, the team has said it is working on a new app that will be available soon.
