CryptoMKT is a prominent Fintech company that has experienced great growth in Latin America (LATAM). With approximately 650,000 clients strategically distributed in several countries in the region, including Argentina, Chile, Brazil, Colombia and Peru, it has established itself as one of the main cryptocurrency platforms in the area.

What is CryptoMKT?

CryptoMKT It is the first exchange or platform for buying and selling Ethereum cryptocurrencies in South America. Currently, it makes it easier for thousands of people and companies to access blockchain technology by buying and selling around 50 cryptocurrencies.

The company has earned the trust of its customers by offering a wide range of cryptocurrencies, a friendly and secure interface, as well as exceptional customer service. CryptoMKT It arose from the need to send and receive digital assets between countries at fair costs and times.

How does it work?

CryptoMKT It works as an exchange platform for digital currencies (cryptocurrencies) in Latin America. Its goal is for thousands of people and companies to be able to access blockchain technology by buying and selling various cryptocurrencies.

Within the platform, you can find buyers and sellers of cryptocurrencies who, through purchase orders (graphed in green) and/or sale (graphed in red), determine prices. Market liquidity is crucial to facilitate transactions.

Let's consider the following table as an example:

In this example, a person is willing to sell 0.2022 ETH at a price of 208,320 CLP per ETH and, if the sale is completed, they will obtain 42,122 Chilean pesos.

How Purchasing Cryptocurrencies at CryptoMKT Works

If a person wanted to buy 1.9721 ETH at $203,780 CLP, for example, they would have to wait for the two purchase orders for $204,360 CLP and $204,340 CLP to be executed first. This means that someone must come along who is willing to sell their ETH for those amounts.

Examples of Exchanges or Stock Markets:

• Bithumb

• Bitfinex

• Kraken

• Binance

• Poloniex

The average world price is defined by the global transactions that occur every second. Various websites extract this information automatically through an API from different exchanges and determine an average price for each digital asset. For example:

• CoinMarketCap

• BitcoinAverage

Why Sometimes the Price in CryptoMKT Is it Greater or Less than the World Average Price?

The price in CryptoMKT It may be higher or lower than the world average price due to several factors:

1. Market Liquidity: The number of active buyers and sellers in the market CryptoMKT can affect the price. If there are fewer sellers or buyers compared to other markets, this can lead to price differences.

2. Local Volatility: The specific demand and supply in the region where it operates CryptoMKT can influence prices. If there is high local demand and low supply, the price may be higher and vice versa.

3. Rates and Costs: Transaction fees and other costs associated with trading on CryptoMKT They can influence the final price of cryptocurrencies.

4. Asset Availability: The availability of certain cryptocurrencies in CryptoMKT may be different from other exchanges, thus affecting prices.

These factors, among others, contribute to the fact that prices in CryptoMKT vary compared to the world average price.

Factors Influencing the Price of Cryptocurrencies in CryptoMKT

As explained above, the price of cryptocurrencies on CryptoMKT is defined by the users themselves with their willingness to sell or buy. There are various situations or events that affect the price globally and make people tend to sell or buy digital assets, thus varying their price.

Influence of Global Events

Different global events can influence the perception and value of cryptocurrencies, such as:

• Government Regulations: Announcements of new regulations or changes in laws affecting the use of cryptocurrencies may cause price fluctuations.

• Technological Adoption: The integration of cryptocurrencies and blockchain technology into more industries and services can increase demand and therefore prices.

• News and Rumors: Relevant information or rumors about hacks, scams or technological innovations can affect investor confidence and alter prices.

Value Adding Features

Typically, if an asset offers a feature that adds value to people, they want to buy it immediately, thereby increasing their willingness to pay for it. Some of these features may include:

• Utility and Application: Cryptocurrencies that offer unique functionalities, such as smart contracts (Ethereum) or fast and cheap transactions (Ripple), tend to be more valued.

• Security: Digital assets that offer higher levels of security can attract more buyers.

• Shortage: The limited quantity of some cryptocurrencies, such as Bitcoin, can increase in value due to limited supply.

The price of cryptocurrencies in CryptoMKT and other exchanges is constantly changing due to the interaction between supply and demand, influenced by a variety of factors both globally and locally.

The Importance of Liquidity in the Cryptocurrency Market

Once a market acquires the necessary liquidity, the speed at which the local price adjusts compared to the global average price increases. This allows users to acquire the asset at the fairest price possible without having to pay very high amounts.

What is Liquidity?

The liquidity of a market refers to the ability to buy or sell assets quickly without causing a significant variation in price. A market is more "liquid" when it has a greater number of transactions in a given period of time. In other words, the more buying and selling there is, the more liquid the market will be.

Benefits of a Liquid Market

• Fair Prices: A liquid market quickly adjusts local prices compared to the global average price, allowing users to obtain fair and competitive prices.

• Lower Volatility: High liquidity reduces market volatility, as large transactions have less impact on the price.

• Quick Execution: Users can buy or sell assets quickly without having to wait long periods for their orders to be executed.

Examples of Additional Resources

For more information on how to trade in CryptoMKT and about the security of the platform, you can visit the following articles:

• CryptoMKT and your safety

• Buy cryptocurrencies