In this article I will be making a business analysis of the XTRD platform by using the SWOT Analysis business tool to analyze the internal and external factors that will likely play a role in the eventual success or struggle of this project.In this article I will be making a business analysis of the XTRD platform by using the SWOT Analysis business tool to analyze the internal and external factors that will likely play a role in the eventual success or struggle of this project.
SWOT is an acronym of Strengths, Weaknesses, Opportunities and Threats
XTRD is an exchange providing the revolutionary solution to the major trading problems that exists in the cryptocurrency markets by providing the infrastructure that gives cryptocurrency traders the same advantages that is enjoyed by the financial and equity traders.
Strength
FIX (Financial Information eXchange) API:
This API in my opinion is one of the major strengths of this project because unlike most exchanges which uses an http-based REST API for their market data and execution. FIX API is a technology that is already proven and successful in the FX and equity markets for decades.
XTRD FIX API will unify all the market data across the cryptocurrency exchanges with the ability to place and execute trading orders for the platform's clients across all the exchangea where they have an account at the best liquid price available.
Weakness
Customers are required to have other Exchange accounts:
In a case where the XTRD FIX API is implemented, XTRD will not hold people's tokens or trade from an inventory account but will facilitate trades at the most liquid rates across the exchanges where the customers have an account, in order words; cryptocurrency traders will still have to open account across different exchanges in order to reap the full benefits of the API.
Opportunity
Open Nature of The Exchange Market;
The cryptocurrency exchange market is very open ans aside from the hype that comes with some of the big exchanges most exchangea ate stepping up their game in order to provide their customers the best service. This shows that people react well to quality service.
XTRD provides something new to the cryptocurrency space as far as exchanges is concerned. XTRD's Pro trading platform provides the customers with a standalone trading platform with amazing features that are not present in the present exchanges. Additionally the ability to trade in large volume is definitely going to appeal to the crypto universe.
All this amazing features will set XTRD apart from the existing exchanges and give it the opportunity to be among the top cryptocurrency exchanges and a pioneer for new types of future exchanges.
Weakness
The XTRD project has a great concept, proven and existing technology, and an amazing team. This platform has all it takes to be a successful project. The only form of weakness I could uncover is in its hard cap which was originally set at $45 million, however, with 70% of its hardcap already met in Presale and a crowd sale been canceled, the eventual cap is a little over $30 million and as thus made up for any potential inflation due to bonuses. In the end, this is not a real weaknesses.
Conclusion
From the analysis I have carried out on the XTRD project, I have been able to deduce that the positives outweighs the negatives and this platform has all it takes to be a blockchain success.
Official Contacts
Website: http://www.xtrd.io/
Whitepaper: https://xtrd.io/xtrd_whitepaper.pdf
Telegram: https://t.me/xtradecommunity
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=4477503
Blog: https://medium.com/@community.xtrd
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My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1556229
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