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Monday, 30 January 2023
The Future of Cryptocurrency Is Here: Introducing CrossTower’s Tokenization Platform

The Future of Cryptocurrency Is Here: Introducing CrossTower’s Tokenization Platform

2022-10-29

Cryptocurrencies have risen from the obscurity of the internet to the forefront of the financial world in such a short period of time that it can seem almost unbelievable. Even though the space is still in its infancy, hundreds of virtual currencies have already been created and tens of thousands more continue to emerge. The most successful ones have found their way into the global financial system, but many others remain on the fringes. Cryptocurrencies are digital or virtual currencies designed to function as a medium of exchange using cryptography to record transactions and monitor the monetary transactions. They can be used to buy goods and services with no middle men (referred to as decentralized currency) or they can be used as an investment alternative. The first decentralized cryptocurrency was bitcoin, which was created in 2009 by an anonymous group identified as Satoshi Nakamoto. Since then, numerous cryptocurrencies have emerged, all offering unique features to make them more usable and attractive than bitcoin. CrossTower is a company building a truly decentralized cryptocurrency exchange. It has developed a new blockchain-based technology that allows anyone to tokenize their assets and create their own cryptocurrency exchange. The company is also developing its own platform where traders can buy and sell tokenized assets. It is a new way to invest in and trade cryptocurrency that removes the barriers of entry for everyone.

What Is Tokenization?

Tokenization is the process of turning physical assets such as commodities, shares, or currencies (cash) into tokens, which are effectively digital assets. The tokens represent the physical assets and may be listed on a digital exchange. This process helps to address two major issues faced by investors – liquidity and custody.

Both liquidity and custody issues are solved with the help of tokenization. Liquidity means being able to buy and sell assets easily and quickly. Credibility is a concern when people trade assets that may not be genuine. Tokenization enables traders to buy and sell assets that appear to be highly liquid and credible. It also solves the custody issue, which refers to the security of storing assets. Traditionally, investors have kept their cryptocurrencies in online digital wallets. These wallets are great for storing cryptocurrencies, but they do not provide a reliable way to access them when you need to sell or buy more.

CrossTower solves these problems by creating a completely new type of cryptocurrency exchange – a decentralized exchange. The tokens serve as trading pairs that represent the actual assets being traded. Therefore, when an investor using the platform creates a tokenized asset, they are actually creating a new trading pair – they are adding liquidity to the market by creating a new tokenized asset pair. The platform also solves the custody issue because the tokens are stored on the Ethereum blockchain – it’s the most secure way to store tokens.

 

How Does Tokenization Work?

A company has shares that it wants to tokenize and sell to investors as a new investment opportunity. The company would issue its shares on a traditional stock exchange like the New York Stock Exchange (NYSE) or the London Stock Exchange (LSE). The company could also issue shares using a blockchain platform like Ethereum. The shares would be issued in the form of a security token. A security token is essentially an asset that creates ownership rights. An investor buys the security token because it gives them ownership of the platform like shares give ownership of a company. The investor uses the tokens as cash to buy the shares or as a method of payment for the services of the company.

Benefits of CrossTower’s Tokenization Platform

Tokenization solves two major issues faced by investors – liquidity and custody. Liquidity means being able to buy and sell assets easily and quickly. Credibility is a concern when people trade assets that may not be genuine. Tokenization enables traders to buy and sell assets that appear to be highly liquid and credible. It also solves the custody issue, which refers to the security of storing assets. Traditionally, investors have kept their cryptocurrencies in online digital wallets. These wallets are great for storing cryptocurrencies, but they do not provide a reliable way to access them when you need to sell or buy more. CrossTower solves these problems by creating a completely new type of cryptocurrency exchange – a decentralized exchange. The tokens serve as trading pairs that represent the actual assets being traded. Therefore, when an investor using the platform creates a tokenized asset, they are actually creating a new trading pair – they are adding liquidity to the market by creating a new tokenized asset pair. The platform also solves the custody issue because the tokens are stored on the Ethereum blockchain – it’s the most secure way to store tokens.

How to Access the CrossTower Platform

Getting started with the CrossTower platform is easy. You will need an Ethereum wallet where you can securely store your tokens issued by the platform. CrossTower will support a variety of Ethereum-based tokens. The most popular Ethereum wallet that supports ERC20 tokens is MyEtherWallet. You can also use the Ethereum wallet Mist. You will also need to create an account on the CrossTower platform. The platform will help you create a tokenized investment portfolio that is custom tailored to your needs and goals. The platform automatically analyzes your risk appetite and investment strategy to create a portfolio that is appropriate for your level of experience and investment amount. You can also manually create a tokenized investment portfolio.

How to Trade on the CrossTower Platform

To use the CrossTower platform, you will first need to create an account. After you create an account, you can fund your account with Ethereum or Bitcoin. You will then be able to trade on the platform by buying or selling tokens. The CrossTower platform offers a variety of trading pairs, including fiat currencies, commodities, and stocks. Using the trading platform is straightforward. First, select the type of token you want to buy or sell. There are more than 350 assets traded on the platform, including cryptocurrencies, stocks, and commodities. Then, select the amount you want to buy or sell. The order book on the platform shows you the price at which other traders are currently buying or selling at and the best price at which you would like the trade to occur. After you enter the amount you want to trade, the platform automatically shows you the highest available offer. If there are multiple buyers at the same price, the platform will show you the one who will execute the trade first. Once you click buy or sell, the deal is complete and you will receive the amount you specified in your transaction.

The future of cryptocurrency is here. CrossTower is building a truly decentralized cryptocurrency exchange that allows anyone to tokenize their assets and create their own cryptocurrency exchange. The company is also developing its own platform where traders can buy and sell tokenized assets. It is a new way to invest in and trade cryptocurrency that removes the barriers of entry for everyone.

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