When considering a crypto exchange to choose, there are a few factors that must be put into consideration to ensure a smooth trading experience. These factors include the security of your funds (which is paramount), number of digital assets available and the diversity of the pairs based on these assets. If you are to list exchanges that satisfy these criteria, then Bittrex should be on that list. For starters, they allow use of fiat currency for buying crypto and trading activities, so it is a safe climate for beginners. They have never been hacked, and a larger percentage of client funds are kept in offline storage so there is minimal risk of losing money.
Like any other exchange, Bittrex is not without its downsides, as there is hardly a perfect exchange. They have been criticized for a very intrusive verification process that gives no room for anonymity or privacy of an individual. Also, they blocked the trade of some 32 cryptocurrencies in the USA in 2019, and this led to a decrease in popularity and daily volume. That aside, the platform is still a great one to use as they offer a variety of pairs, such as the SPIN/BTC one which is about to be discussed.
SPIN token is the native utility coin of the SPIN protocol which is a decentralized forum that b=rings social media influencers and suppliers together. They seek to provide better linking opportunities and secure transparent dealings between both parties. This intermediary service is offered at a more pocket-friendly price than can be found elsewhere, and transactions on the platform are done so with the SPIN token. That said, it is easy to simply describe SPIN protocol as an E-commerce service.
BTC on the other hand does not need a detailed explanation as it is more well-known that=n any other coin, being the first to be created. Bitcoin is also the most valuable cryptocurrency in the market as of June 2020 and has more users than any other. That said, this pair has the potential to be very successful or mediocre depending on SPIN's popularity in global markets. Bittrex first listed SPIN on its platform on July 25, 2019 and since then, the performance of this pair has sadly been nothing to write home about.
The usual protocols for interactions between influencers and suppliers isn't yet taken over by SPIN's more beneficial system. Why? It's because fiat currency and such methods control most of the mainstream as far as such services are concerned. This is one of the issues affecting coins which want to perform other functions aside service as a means of payment. The SPIN protocol seeks to better serve influencers and suppliers, and this seems like a great ideal and all, but they simply are not popular. Incorporating cryptocurrency into everyday life is a long process and people are just not ready for what SPIN has to offer yet. Until the decentralized universe is successfully merged with everyday life, the pair may remain as it is: nothing special.
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