In the evolving world of cryptocurrency, professional traders are being seen as the next wave of potential users. With the aim of introducing an additional billion users to the world of crypto, Coinbase Advanced and its team – led by group product manager, Moheeth Alvi – are focusing their efforts on appealing to this group.
Distinct from regular investors and cryptocurrency holders, professional traders are viewed as a dynamic community, driven by high-frequency trading and often reliant on digital coin exchanges for their livelihoods. In addition to this, most operate systematically, making a platform’s functionality and ease of use of pivotal importance.
A digest of the key aspects that are sought after by these traders can be surprising. According to Alvi, exposure and access to a range of assets to trade play a crucial role in attracting these users. Additionally, the availability of a platform on multiple devices including mobile, desktop, and the web is a feature deemed necessary by many.
Yet within this sphere, there is something else that might not strike the average cryptophile as crucial – liquidity. This financial concept, often overlooked by the less advanced, plays a significant role in fostering a positive trading environment. This is because liquidity can influence the ability to execute trades quickly, directly influencing a trader’s potential for profit.
However, while the push to encourage professional traders into the cryptocurrency sector heralds opportunity, it also presents challenges. For one, it could potentially inflate the crypto market, inflating the risk of a burst bubble. Additionally, with the surge in professional trading may come increased demands for regulation and scrutiny.
It’s undeniable that the movement of pro traders into the crypto orbit could have a transformative effect, with the ability to speed up the mainstream adoption of cryptocurrencies. However, alongside this potential for significant growth, the associated challenges cannot be underestimated and ought to remain a focal point in crypto discourse.
Ultimately, the question must be asked: As we strive to attract the next billion users to crypto, should our focus be primarily on expert traders who might provide a significant push for adoption, or should we also consider casual users, who could offer a more stable, albeit slower, approach to growing the user base? One thing is clear – the crypto marketplace, much like its offers, has yet to reach its maximum potential. What lies ahead will undoubtedly shape the future of cryptocurrency, blockchain technology, and our digital economy as a whole.
Source: Cointelegraph
