COBINHOOD - Crypto Currency Exchange With Zero Trade Charge
With the advent of blockchain technology, more and more people are migrating from fiat-based fi nancial systems to blockchain-based financial systems. Since January 2017, the cryptographic market share has increased from 7B USD to 110B USD in July 2017. In addition, the volume of cryptocurrency trading surpassed stock trading volumes in August 2017. However, the existing crypto exchange is currently unable to handle the demand for modern trade.
Issues In Crypto Currency Exchange Currently
High Trade Costs
According to the Exchange War, the top 30 cryptocurrency exchanges, on average, charge a 0.2% trade fee for makers and takers, which significantly affects traders' profit margins. Some exchanges claim that they charge a low trade fee, but this rate of decline is often only applicable after the volume of traders reaches a very high threshold.
Real-Time Trading Difficulties
Because trading APIs with limited levels, non-real-time transaction confirmations, and book order updates are pending, merchants can not conduct transactions in real-time.
Asset Security Issues
The cryptocurrency trading platform stores a large number of cryptocurrency deposits, thus making them an unavoidable target of hackers. On February 24, 2014, Mt.Gox, Bitcoin exchange, hacked and lost 650ribu Bitcoin, which is currently worth 2.6 billion USD; In August 2016, Bitfinex, one of the world's top 10 cryptocurrency exchanges, has been hacked and lost 120,000 Bitcoins, currently worth over 480 million USD. If investors continue to be concerned about security issues, then the growth of the cryptocurrency trading market will be affected.
Close Without Notifications
Shutdown without warning often occurs between trading platforms. In 2014, Mt.Gox suffers a serious technical failure, resulting in a halt in trading. The value of Bitcoin drops from 260 USD to 110 USD. On May 25, 2017, Kraken, another platform of cryptocurrency exchange, closed three times in a day. On May 27, 2017, Coinbase, the leading exchange platform, claimed that the stop system was caused by extremely high trading volumes. The incident also caused a decline in the value of Bitcoin. Disabling the platforms keeps user traffic stalled and people lose a lot of investment. To this day, many of these incidents remain unresolved.
Only Limited FIAT Currencies Supported
Most exchange platforms only support one type of fiat currency. While some do not even provide FIAT withdrawals.
Lack of Multi Language Support
Most exchange platforms only support one language, only a few are multilingual.
Customer Service And The Slow KYC Process
Currently, customer service delivery is very slow, while some exchanges do not even respond to the question at all. Furthermore, the KYC (Know Your Customer) process is slow and complicated. Take Kraken as an example, when a high-identity verification request, it takes about 30 days to complete Tier 4 verification.
*Introducing COBINHOOD
COBINHOOD is a cryptographic service platform that provides ICO cryptocurrency and underwriting trades, aimed at solving existing problems in crypto currency exchanges today.
COBINHOOD has zero trading costs to maximize profits and liquidity of the trader's market. It has the ability to process more than one million orders per second, achieve true "real-time" trading experience, and make it the world's first information-sharing crypto exchange capable of trading at high frequency.
Furthermore, COBINHOOD aims to address ICO token liquidity issues through its ICO underwriting services.
COBINHOOD will support the following crypto currency:
What features do COBINHOOD have?
Crypto Currency Exchange with Zero Trade Charges- COBINHOOD is the world's first "ZERO Trading Fees" cryptocurrency exchange with a vision to maximize traders' profits. Traders can now enjoy ZERO trading fees for spot trading and margin trading up to 10x leverage.
Crypto asset deposit is safe - COBINHOOD keeps most of the crypto asset deposit in an offline multisig vault, requiring 5 out of 8 geo-distributed hardware security modules to open. Furthermore, crypto assets stored in the online wallet will be supported by insurance
High performing order matching engine - COBINHOOD Matching for matching engines can process millions of orders with sub-millisecond latency. The entire system is designed to be fully distributed, available very well, and scalable automatically, reaching major trading experience for traders worldwide.
ICO underwriting services - COBINHOOD positions itself as an authoritative global ICO underwriter, namely Goldman Sach crypto, provides ICO Due Diligence, intelligent contract code review and ICO compliance review with a vision to build a reliable ICO ecosystem.
Multiple FIAT Currencies Supported - COBINHOOD will support all major fiat currencies. (USD / EUR / JPY / KRW / CNY / HKD / CAD / GBP / AUD / NTD)
Fully Universal - COBINHOOD sites and apps will support 10 major languages, covering 98% of the world's population. (English / Spanish / Chinese / Japanese / Korean / Russian / French / Portuguese / Arabic)
ICO Underwriting Services
The ICO Feasibility Test - COBINHOOD only focuses on high-quality and promising underwriting ICO. The ICO review team from COBINHOOD will review project feasibility, new ideas, and legal compliance.
ICO Spark Program - COBINHOOD launches the ICO Spark Program to help well-known companies, successful startup companies integrate their products and services with blockchain technology.
Liquidity Issues - ICO tokens borne by COBINHOOD will soon be traded on COBINHOOD exchanges right after ICO, which solves low liquidity problems for ICO tokens in the secondary market.
Trends in Increasing ICO - ICO revolutionized the global investment ecosystem. It is estimated that by 2020, funds raised through ICO will exceed 200B USD.
Details of Token Sales
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