Renegade Whitepaper
  • A word from the founder
  • The Challenges Facing Traditional Financial Markets
    • Financial Markets
  • Renegade - bridging the gap
    • Cryptocurrencies vs. traditional financial markets
    • Limited global availability
  • Mission
    • Accelerate the World’s Transition to Cryptocurrency
  • Vision
    • Cryptocurrency for everyone.
  • Future of the Internet - Web3
  • The challenges currently facing cryptocurrency exchanges
    • Insufficient compliance
    • Isolation from traditional banking
    • Trading fees
  • Issues with cryptocurrency wallets at present
    • Asset safety
  • Banking challenges with cryptocurrencies
    • Limited accessibility
  • Challenge Identification and Our Approach
    • Principal Obstacles in Promoting Cryptocurrency Adoption
    • Our Approach
  • Renegade Payment Solutions
    • RenegadePay
    • Unique Selling Proposition
  • The Renegade App
    • User Experience
      • Buy & Sell Crypto
      • Send & Withdraw Crypto
      • Manage the Visa Card
      • Track Crypto
    • Traditional Banking
    • Currency Exchange
    • Security
      • Secure Wallets
      • Two-Factor Authentication (2FA)
      • Biometric Authentication
      • Encryption
      • Suspicious Activity Monitoring
      • Instant Notifications
    • Renegade Wallets
      • Our Offering
      • Custodial
      • Non-custodial
    • Renegade Lend
  • Renegade’s Business Model
    • Renegade Exchange
      • Our Offering
    • User Experience
      • Spot Trading
      • Margin Trading
      • Derivatives Trading
      • Staking Benefits
        • Fixed Stake-and-Earn
        • Flexible Staking
      • Other Features & Promotions
    • Revenue streams
      • Transaction fees
      • Exchange fees
      • Renegade Lend
      • Future revenue streams
  • Visa Card
    • The Renegade Reward System
    • The Renegade Squad
    • Renegade Squad Points (RSP)
      • How To Earn Squad Points
        • Staking RNG
      • How To Use Renegade Squad Points
        • Reward %
        • Reward Cap
        • The Renegade Benefits
    • The Founders Editon
      • Founders Cards
      • Founders NFTs
  • The Renegade Tokenomics
    • Tokenomics
      • Token Information
      • Token Distribution
    • Token Utility
  • Company Background
  • Status Quo Renegade
  • Links
    • Twitter/X
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  1. The challenges currently facing cryptocurrency exchanges

Isolation from traditional banking

Another significant concern is that cryptocurrency exchanges are only now discovering the best practices required to keep their trading infrastructure secure from potential harmful activity. As a result, many exchanges still have a high level of technical security breaches, as well as a lack of legal protection for the assets involved. This is one of the primary reasons that traditional financial institutions shun blockchain-based marketplaces.

So, what are the outcomes? Traditional banking institutions do not recognise cryptocurrencies as an asset class for the reasons stated above, which means they are unable to deliver crucial financial services to half of the world's population.

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Last updated 1 year ago