CGCX – An insured hybrid cryptocurrency exchange platform
Cryptocurrency exchanges now number in the hundreds. Their proliferation has been a natural response to the ongoing cryptocurrency boom that has led to a frenetic rate of trading that the oldest and most well-established exchanges find difficult to handle. It has also been spurred on by the continued evolution of blockchain technology. In their rush to differentiate themselves, new and existing exchanges are always on the lookout for new features. They experiment with different strategies and target audiences, to varying degrees of success.
The Calfin Global Crypto Exchange (CGCX) is yet another new arrival to this crowded field. However, it may be more successful than most. If so, the key to its success would be its broad focus and audience. Integrating several new or refined ideas, CGCX promises to be an accessible and reliable exchange for both fiat and cryptocurrencies.
How will the CGCX work?
The CGCX platform will include several components, to be implemented in stages. The central feature is the exchange platform itself. Its interface will be modular and adaptable, allowing users to choose the tools and the level of information they want, catering to everyone from newcomers to veteran traders. The architecture is designed to support real-time 24/7 trading and to allow easy upgrades and expansions. Users will be able to buy and sell cryptocurrencies for other cryptocurrencies or for fiat money, carry out deposits and withdrawals from a multi-currency wallet and monitor real-time market data. They will also have access to advanced order options taken from conventional exchanges, allowing them to automate their trading.
Other components are an ICO listing platform (allowing the purchase of certain new tokens), a merchant platform (integrating the e-commerce systems of partner businesses with CGCX) and a smart contracts platform (converting various business agreements into smart contracts, with the option of escrow payments). Although transaction fees for all CGCX services (and those of merchant partners) could be paid with different currencies, paying with the CGCX Token (CGX) will allow the user to earn discounts. CGX will also be used to vote for new currencies to be added to the ICO listing, though the options will be limited by vetting.
The CGCX team draws attention to its complex suite of security measures to protect the exchange and user wallets from cyberattacks. This includes 2FA measures, IP address flagging and CAPTCHA checks. A more novel addition is that all client accounts will be insured against cyberattacks. 50% of ICO platform voting fees will go towards expanding this insurance coverage.
What does CGCX have to offer to you?
CGCX offers an easily accessible platform for beginners and a large array of advanced options for more experienced traders. Its state of the art design, security features and wallet insurance should all combine to make it an appealing option for anyone involved in cryptocurrency trading. CGX holders will further benefit from discounts and be eligible for special promotions. New currencies that meet the platform's standards will have a new and more exclusive space in which to promote themselves. Businesses that want to integrate cryptocurrencies or use smart contracts will likewise be able to benefit from CGCX's high-quality services, attracting new customers in the process.
What makes CGCX stand out?
The exchange's main advantage over its many competitors would be its versatility. It combines many different functionalities that are seldom all brought together in one platform and appeals to a broad base of users. Both the platform's architecture and the company's strategy are set up to accommodate a rapid expansion while ensuring that it would not compromise CGCX's core advantages. The team is headed by experienced traders and businessmen who have a solid understanding of exchange practices. The project is based in Singapore, taking advantage of its favourable business environment, but has plans for further expansion that are already in motion. It also has a number of important and reputable partners.
Token sale details
The token being sold is the CGCX Token (CGX), based on the ERC20 protocol. There is a token hard cap of 1,000,000,000 CGX.
A broad-based platform that may stay ahead of the pack
Cryptocurrency exchanges exist in a highly competitive field, one that also suffers from chronic issues such as scams, cyberattacks and technical failures. Even so, the enduring and growing interest in cryptocurrencies among a wide swath of businesses and customers alike ensures that new and more advanced exchanges will remain in demand.
CGCX seems well-positioned to meet that demand, not least because it has taken clearly explained steps to protect itself from common problems. By bringing together fiat-to-crypto and crypto-to-crypto exchanges, expanding the trading options and reaching out to businesses and ICOs, it promises to elevate crypto exchanges to a new level while also fostering a large ecosystem. In the long run, it is well-suited to attracting new partners and new users from both within and without the cryptocurrency community. Of course, its competitors are moving in the same direction. In particular, the idea of a hybrid exchange is fairly common by this point and is likely to be adapted by many other projects over the year. But CGCX has an entire array of advantages, and those may be enough to keep it in the lead.
Links:
Website: https://www.cgcx.io/
WhitePaper: https://www.cgcx.io/wp-content/uploads/2018/05/Whitepaper.pdf
Telegram: https://t.me/cgcxio
Facebook: https://www.facebook.com/CGCXofficial/
Twitter: https://twitter.com/CGCXofficial
Medium: https://medium.com/@CGCXofficial
ANN: https://bitcointalk.org/index.php?topic=3360185
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.