Review on Paro Exchange by Naomi Ilani

Name: Paro Exchange
Item: Paro Exchange
Rating: 3

March 19, 2021

The Paro Exchange Platform

TThe blockchain network is a very wide network of people which includes traders majorly. These traders come from different places around the world, thereby making the blockchain network a very diverse one. Cryptocurrencies is the currency used by traders to execute some payments and even to trade. These types of currencies are sometimes called digital currency because they are virtual (meaning they cannot be seen nor touched). The fact that they are virtual makes it impossible for traders to make use of this cryptocurrencies and this alone calls for the availability of a place where these cryptocurrencies can be converted to fiat. Fiats are the local currencies we use for physical trades in our locality and differ according to a country. For example, the United States makes use of the United States Dollars (USD) and Nigeria makes use of the Nigerian Naira (NGN). This place where cryptocurrencies can be converted to fiats and vice versa is what we now know as crypto exchange platformsp. These exchanges seem to come in their diversity and records has it that there are hundreds of exchanges available on the blockhain network today. Some of these exchanges face the global market while others seems to limit their services to specific localities. These type of exchanges (that is those that limit their services to only a specific localities), seems to be less popular as only a specific locality know about them.
I would be reviewing a less popular exchange platform today that is, the one that faces a specific locality. This exchange platform is known as the Paro Exchange platform. This exchange platform was founded in the year 2018 (although there has been other information about the exchange platform being established in the year 2019) in the United Kingdom, it is also registered in the United Kingdom making it a licensed exchange platform. The exchange platform seems to be less popular as I have never heard of it until when I decided to write a review on the company. The exchange platform also seems to be a bit under developed as their interface displays it. The user interface owned by Paro exchange platform happens to be a bit slow in loading, at a point I thought the exchange platform was actually out of use. The interface is also poorly designed as I don't really find it attractive although understanding it wasn't too much of a problem to me.
Moving on to the trading services. We all know that almost all traders use an exchange platform majorly for their trading services and that's why it is very important to check out an exchange platform trading service before jumping into full usage of their services. As for me, an exchange platform with a nice trading feature, services and experience is far better than one which lack all these but charges less. This is what I believe, although other traders might have a different believe. The Paro exchange platform also offers their trading services to traders with about 10 trading pairs and 4 currencies. I also got to discover something disappointing about this exchange platform, they don't offer margin trading. I find this completely disheartening as I really love it when an exchange platform allows margin trading. Trading fee is also something to talk about when it comes to trading in an exchange platform. The Paro exchange platform seems to charge moderately and affordably when it comes to trading fee. This is displayed by the fact that they charge a flat fee of just 0.1% (that is both makers and traders pay the same fee of 0.1%). This is a very competitive fee. Moving to the languages they have their interface in, I got to discover that the exchange platform has its interface in just one language, English. I guess this is because it's based in the United Kingdom and this makes it a unilingual exchange platform which isn't too nice for reaching out to traders who don't understand English language. 
With all these said, traders are left with the decision: is Paro exchange platform the best for you ?? Well, their trading fee looks compelling but other factors aren't to me.
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Pros

They charge a very competitive fee of 0.1% for both makers and takers
Their user interface isn't too hard to understand as everything is carefully outlined
The exchange platform is registered in the United Kingdom which makes it a centralized exchange platform

Cons