The State of Some Crypto Projects
Hello friends, a couple of months ago I did a serious of some amazing projects in the cryptocurrency space; projects that every crypto enthusiast should be aware of and leverage on while carrying out their day to day crypto transactions. I will be talking about the state of some of those projects at the moment.
Sadly, one of the favourites of mine went bust a couple of months ago and as a result, there would be no need to include them in my research going forward.
The first project I will be showing you guys today is Digitex Futures
Digitex Futures
Digitex Futures exchange – a Bitcoin futures trading platform that charges zero fees on all transaction
Digitex uses a unique token issuance model to provide a zero commission futures trading platform, unlike the conventional transaction fees model.
Digitex recently made history by being one of the first companies in the cryptocurrency space to integrated Plasma Technology as they partnered with Matter Inc. This aided them in solving the scalability problem associated with the Ethereum blockchain which is the blockchain that their native DGTX Token leverages on.
Digitex Futures is a hybrid exchange in that it is both centralized and decentralized model-wise for the purpose of enhancing transaction speed and increasing the level of security that traders would have on the platform. Users on Digitex Futures can enjoy the benefits of centralized models and avoid the disadvantages through a complementary decentralized model. This brings maximum security and enhanced speed/low latency problems.
There's been a little bit of controversy regarding their roadmap and a lot of unkept promises over the last couple of months. however, that doesn't change the fact that the overall idea of the project is great and I would really like to see this play out well.
Cobinhood
With Cobinhood, you can literally pay zero fees on all transaction. Yeah! You heard that right; you can trade on this world-class exchange without paying any fees at all. The only time you get to pay a fee on Cobinhood is while withdrawing funds from the exchange but for all transactions and trades within the platform, you enjoy them absolutely for free. However, you would be given some discount on withdrawals if you are a holder of their native currency – the Cobinhood toke (COB).
On the 8th of January this year, we received a piece of really sad news from Coindesk announcing that Cobinhood is temporarily shutting down with promises to refund user's funds after some audit. This announcement was preceded by a long 8 months of silence by the firm causing a whole lot of people to think and argue that they have gone bankrupt.
COBINHOOD Exchange is shutting down and auditing all accounts' balances from Jan 10 to Feb 9 in 2020. It will be re-opened on Feb 10, 2020. All COBINHOOD users can then retrieve their funds accordingly. Please DO NOT make any deposits; it may result in permanent loss.
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In spite of this, I still believe this was a truly promising project and zero-fee on transactions for COB holders was indeed a good deal.
TenX
OneBit became TenX in a jiffy and it became all incredible. Just in case you are wondering what TenX is all about; it is a company that seeks to make cryptocurrencies spendable instantly. TenX used to be OneBit but due to the limitation placed on the scope of the initial brand because the word “Bit” indicates that it is only for Bitcoin holders.
However, the team decided to rebrand and create an entirely new UI for the project in such a way that include all cryptocurrencies. TenX went for total rebranding and now holders of cryptocurrencies can make us of the TenX card to spend their cryptocurrencies on goods and services as an integral part of their daily lives. TenX is similar to Monaco but not without it’s own added benefits.
Without saying a whole lot of repetitive stuff, I would like you to know that Tenx is still up and kicking. In fact, the team has been giving some great updates and also adding new features to the application.
This update came from their official Twitter handle a couple of days ago (9th of April to be precise)
From now till 30 Apr, users in card-live countries can get the TenX Visa Card for free! In these crazy times, we hope the ability to pay through contactless methods and using crypto brings you new options and security.
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I will be giving you more updates on the state of the projects I wrote about before. Some of which have been completely shutdown while others like Trade.io giving users the hope of returning in no time. Thanks for your times
note that some of the contents of this post were gotten from different sources of research including an article I wrote a couple of months back