How Cobinhood Exchange Solves The Crypto World Problems
Cobinhood is the world's number one zero-fees exchange. This has revolutionized the cryptocurrency and Blockchain technology world as it brought a total zero-fees trading for all crypto traders while other exchanges are busy competing with one another over transaction fees.
Cryptocurrency trade is a very lucrative business. With an in-depth knowledge and experience and a good sum of money to for startup capital, it is one of the best ways to make cool money while staying at home. You can practically be anywhere and continue to track tokens and watch the markets. However, the high trading and transaction fees charged by exchanges for using their services could make one lose almost all the profits. Several surveys have shown how crypto traders have pointed out high trading fees as one of the major challenges facing them in trading cryptocoins. A data released by BitInfoCharts shows that people were paying $28 on average for trading cryptocurrencies and running other transactions on Cryptocurrency in 2017.
Cobinhood - feeding the poor from the rich
Just when traders started to get tired of paying this high cost of transactions, Cobinhood came with the solution, becoming the first ever exchange offering zero-fees trading for cryptocurrencies. Cobinhood has come to rescue crypto traders from being robbed by crypto exchanges through high transaction fees.
COBINHOOD Exchange is a zero trading fees cryptocurrency exchange that provides a secure and user-friendly trading experience to buy, sell, and trade Bitcoin, Ethereum, and more.
Cobinhood offers a total zero-fees trading without charging crypto traders for using any of the resources made available for them on the platform. However, traders have to pay for withdrawals and deposits and the charges depend solely on the tokens that are being deposited or withdrawn. Even so, Cobinhood exchange still pays 50% of these withdrawal fees for their clients who have the Cobinhood protocol token; COB in their wallets. There are several other benefits that traders gain access to when they have the COB token.
How Cobinhood generates maintenance fee for the exchange
Running and maintaining an exchange does not come cheap. There are lots of technologies being used which require being updated and maintained under close watch. The question now is how Cobinhood generates revenue to maintain the exchange and personnel costs when they only offer a feeless form of trade on the exchange. Cobinhood exchange has handled lots of high-profile ICO projects. This is because they boast of highly-skilled professionals who can help projects meet their targets in a short period of time. Cobinhood exchange charges project owners 5% of the amount raised during ICO campaign and what they earn from this is used to maintain the exchange. It is just as the name implies; take from the rich (project owners) and give to the poor (crypto traders who are being robbed by other crypto exchanges of their hard-earned profits).
Major challenges facing the cryptocurrency industry that Cobinhood exchange has come to solve
Despite the rate at which the cryptocurrency and Blockchain technology industry is growing, there are some challenges that are being faced by crypto enthusiasts across the globe. Among these challenges are high transaction charges and trading fees, security concern, limited token pairs, poor customer services, inability to trade fiat for crypto directly and many more.
High transaction charges and trading fees
This is one of the major problems facing the cryptocurrency industry today. Up until now, heavy-trafficked top exchanges have been exploiting traders of their profits by charging high transaction fees. Countless traders have taken to social media to show how discouraged they have been by these exorbitant fees being charged by the exchanges.
Security concern
There is always news of hacking attacks on crypto exchanges. What is more frustrating is that the victims who are the innocent traders trying to make a living from trading cryptos lose their tokens to these attacks and hardly receive any compensation from the exchanges. The fear of hacking attacks, some exchanges suddenly disappearing with thousands of people funds and other security concerns has been another major challenge facing the crypto industry.
Limited token pairs
You cannot point to one exchange that is majorly known for a particular tokens pair (BTC/ETH for example). Sometimes, traders need to undergo some conversion processes before getting their desired Quote Currencies. To make the matter worse, these conversions attract extra fees since these top exchanges do not offer any form of feeless transactions.
Poor customer services
There are several unexpected issues that can arise when trading cryptos on exchanges. On many occasions, traders would need urgent help from customer service attendants only to have to wait for several days or weeks before getting feedbacks. Being unable to get immediate feedback from customer service desks can make traders lose lots of money depending on how serious the situation on the ground is.
Inability to trade fiat for crypto
There are very few exchanges that allow traders to trade in fiat instead of the highly volatile cryptocoins. You may have to undergo lots of processes to deposit or withdraw USD and to even to trade; traders have to convert their fiat currencies to some of the major cryptocurrencies. All of these attract extra fees entirely. This could be frustrating at times because of the nature of cryptocurrency – volatility may make you spend or lose some extra money as prices could change in a blink of the eye while you are busy converting from one currency to another.
How Cobinhood provide solutions to these problems
The main objective of creating Cobinhood exchange is to ensure that he crypto traders are given better services and treated in a better manner compared to how they are being treated by 99% of the exchanges in the world. Hence, they make zero-fees trading their priority. This will bring a lot of profits for traders and their long-term top challenges can be conquered. As regards security on Cobinhood exchange, it could have not been any better. Cobinhood exchange stores digital assets deposits in highly secure offline vaults that can resist any kind of hacking attacks that come their way. Also, those currencies stored in the wallet are backed by insurance. Hence, traders have peace of mind leaving their digital assets in their Cobinhood wallets as they are well protected from losing their hard-earned money.
Cobinhood exchange has a customer service desk that offers 24/7 support to traders and investors. Also, there are several tutorial videos provided to help both the newbies and veterans to understand everything that needs to be understood about cryptocurrency and Blockchain technology. You can also choose any trading pairs of your choice and if there is no liquid presently on a particular token, you can choose to convert to other currencies without the fear of paying extra fees.
COB token
This is the protocol token used on Cobinhood to gain access to several services that are available on the exchange. These are among some of the services; is enjoying 50% discount off withdrawal and deposit charges, traders are offered discounts when they decide to invest in the ICO projects being managed by the Cobinhood ICO service if they have the COB token in their possession.
COB token currently traded at $0.023829 USD which signifies 0.27% rise in value in 24 hours as at press time. It currently has a market cap of $9,163,238 USD and a 24-hour volume of $25,033 USD. From the total supply 1,000,000,000 COB tokens, 384,546,140 tokens are circulating in the markets.
Previous Posts
- Cobinhood: Introducing An Explainer Video
- Cobinhood: COB Token Reports, Graphics & Memes
- Cobinhood: Introducing 5 Stunning Graphics For Social Media Campaign And Blogging
- Cobinhood: World's First ZeroTrading Fees Crypto Exchange
You may want to get more information about Cobinhood
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- Cobinhood instant listing
- Cobinhood team
- Cobinhood story
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