# Competitive Analysis As the core function of crypto exchanges, the exchanges match buyers and sellers to trade in cryptocurrencies - whether with each other, or with a pool of assets operating by smart contracts. With presence of both centralized and decentralized exchanges, there is a growing awareness towards the user's need of decentralization of virtual assets but at the same time, the users want approachability, support and accountability in their trade operations which can only be attained with centralized platforms. Users are discerning on the security policies and facilities backing the asset custodies, with an increased awareness between hot and cold wallets. The exchanges would differ on the following parameters: * the provisions for the extent of basic trading and advanced trading methods * liquidity on the trades * Issuance of transaction instruments * Ease and promptness of customer service * Roadmap of developments * Ease of usage * Real world financial scenarios brought within the cryptocurrency sphere * Rewards on frequency of usage and trading * Focus on veteran traders vs bringing familiarity for novice traders with complex trading methods. To know what Koinbay specifically focuses on, in its current and upcoming developments to differentiate it from other exchanges, read about it here: [Value Proposition of Koinbay](/business-development/value-proposition-of-koinbay.md) --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://white-paper.koinbay.com/market-analysis/competitive-analysis.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.