According to a press release issued by Illuminex, announced the release of its new cryptocurrency trading platform, that could make crypto trading a bit more accessible. It seeks to bring casual traders or people who do not consider themselves traders into the trading space with a simple interface and easy-to-use tools.
Trading any assets can be a daunting, overwhelming, and scary situation. Trying to understand the market sentiment, charts, and projections literally can take years to have consistent or reliable success. Avoiding risk when trading is frankly impossible. But, Illuminex states that they are at least trying to make it more widely approachable. By making things simple and automated, Illuminex wants to help their clients have an easier way to expand their trading capabilities and portfolio management.
Illuminex stated that words like “simple and easy” became a common theme from their Beta testing group. The group was comprised of “noobs” with little or no trading experience, all the way up to seasoned, established, traders. Each time these individual traders were asked for feedback, their response seemed almost coordinated.
In the testing group’s comments, they resoundingly highlighted the Simple Bot feature. This feature allows users to set up a few parameters and let the bot do the rest. Instead of staring at charts and wringing their hands about when to buy or sell…the Simple Bot handles trades made within the platform. With very minimal overwatch, a user can have a substantial amount of trading activity.
The Illuminex platform has an affordable monthly subscription fee and the Simple Bot product will require Kala Fuel to fulfill and record all Bot based trades. Kala Fuel can be purchased within the platform. Illuminex chose to use Kala Fuel as the transactional token for their bot because Symatri and their blockchain product offering Kala was established and affordable. Illuminex did not want to deal with volatile fees presented by some other blockchain offerings. By using Kala Fuel, there will always be a complete trade history available to all users.
An extremely important point about Illuminex is that they do not take custody of their user’s coins that are being traded. Instead, the Illuminex trading platform connects to accounts users may already have such as Binance, Binance US, or Coinbase Pro. With the current state of the crashing crypto market, Illuminex faces a bit of an uphill battle. They seem unflinching in their enthusiasm for their product and the market. Only time will tell.