Not just Cryptocurrency exchange with Zero Trading fees, it's much more, The Cobinhood
Some Background
Let me provide you with some background about this new upcoming exchange which will essentially provide ecosystem for Future ICO to survive and thrive. All in all they are to trying tackle problems existing in the current cryptocurrency world by standardizing, filling gaps, it's probably win-win for several parties namely traders, companies offering ICO.
Zero fees CryptoCurrency Exchange
- First item in Cobinhood list is about making the exchange with No fees which also will be huge deal for traders and it will help in making the exchange highly interactive and live. This will definitely be attractive point for traders. On other hand it will be challenging for Cobinhood to still be profitable, however they have came up with providing very useful services at charges that should make Cobinhood profitable.
Here is the snapshot of the exchange:
Bringing Trustworthy ICO's to the market
- Second item, Let me compare it to the IPO world, which is highly regulated and go through rigorous process, backed by the laws and the most essential thing is that there is trust weaved into the whole process, however in ICO world is difficult to figure out which one is real deal.
To handle this situation, Cobinhood is offering new ICO underwriting service. So any new upcoming ICO can use this service. So as a paid service , new ICO being introduced will be audited, scrutinized in terms of their feasibility, properly following the laws and legal structure around offering, and potential success factor of project as whole through Cobinhood Underwriting process. This seems to be filling the huge gap , which will further create Trust among traders and buyers.
Secured Exchange and Fully Backed by Insurance
- Third item, which will be further build trust among traders is the securing assets and data in Exchange and fully backed by insurance, which is somewhat new thinking in terms of crypto exchanges. This will be also be major step as for High volume exchanges this definitely expected. It will definitely boost the confidence among traders.
Offering Blockchain integration services to upcoming ICO's
- Fourth item, helping ICO offering companies to easily integrate their products and services with blockchain, so they can focus on their main products. There is always a need for new companies to figure out the integration with blockchain with their product, this will be huge time saving for new startups/ICO's.
High Speed with high up time.
Moreover, they are also committing to the speed of application, accuracy and highly available system. For this purpose they have been using google cloud platform and for detailed information , please see their whitepaper, links provided at the end of this article.
Project Timelines and Features
***Some Important timelines ***
2017.8
COBINHOOD Development Starts
2017.9
COBINHOOD ICO Starts
2018 Q2
Margin Trading/Funding Online
FIAT Trading Online
Decentralized Exchange Online
Features outline
As per Cobinhood Project timelines and System they are working, here is the brief outlines in plain language in some detail as per Cobinhood.
My take on this, I was really impressed by the issues they are trying to resolve by implementing this system, which will cover all important aspects like trust, security, speed, profitability for traders if used properly.
Features as described by Cobinhood
With Zero Trading fee concept, it will attract millions of user to use it for exchange and not only that user will be able to margin trading for up to 10 x leverage.
Cobinhood commitment to make it Highly secure, the crypto asset deposits, backed by insurance.
The speed of buy/sell transactions handling as indicated by cobinhood seems to be really impressive, along with it there is indication of highly available system i.e. there should not be any downtime.
Cobinhood seems to position itself as Authoritative leader by creating standards and creating ecosystem for ICO
It will support main currencies streams like USD/ EUR / JPY / KRW / CNY / HKD / CAD / GBP / AUD / NTD
App will be available in 10 major languages and will cater about 98 % of world population.
it's also trying to cover Major area , where there is no standard or still unregulated, that is ICO underwriting area.In recent past there has been so many ICOs and it gets difficult to figure out which one is legitimate, feasible, idea worth pursuing and company is going to survive through state/country legal compliance related issue.
So Cobinhood could potentially help in making genuine company successful by providing ICO underwriting service.
ICO due diligence process, in which they will audit project feasibility and wrinkling out out legal compliance.
Providing help to startups, established companies , so they can integrate blockchain technology easily with their products.
One of the other key issue they are trying to resolve is liquidity, Any new ICO cleared by Cobinhood will be available on exchange for exchanging against fiat currencies immediately on release.
In Conclusion, if Cobinhood can provide all those features in timely fashion, it will be successful company.
whitepaper : https://cobinhood.com/assets/whitepaper/whitepaper_en.pdf
website : https://cobinhood.com/
Telegram https://t.me/cobinhood
Bitttalk profile: Bittalk profile: https://bitcointalk.org/index.php?action=profile;u=u=1173931