For some time now I have been watching, researching, and investing in #cryptocurrency markets. I find them fascinating. It is clear to see the many benefits that they will bring to the world. Currently there are hundreds of exchanges for trading #bitcoin and #altcoins. Some are better than others, but one thing that every trader unfortunately has to deal with is the high fees charged by the exchanges. Both for deposits and transactions. I started putting money into #crypto markets with only $100. For my first deposit I ended up paying 3% on Coinbase. I then had to transfer the money to another exchange, Poloniex, to by the XRP that I wanted. I paid an additional 6-7% for that deposit and subsequent transactions. 10% in fees and I hadnt yet made a dime in profit! I was annoyed, but sucked it up because there were no other options. Then as I learned more about trading on these exchanges, I came to find out that most of them did not have the order types that I was looking for. I wanted a trailing stop limit order. All I found was basic stop limit orders.
Enter #Cobinhood... a new decentralized exchange with zero fee trading. Cobinhood offers zero fee trading, low latency times down to a few miliseconds, high volume trading (over 1 million orders per second), advanced order types, better security via cold wallets with geographically distributed keys for 98% of funds on the exchange, and insurance.
Cobinhood seeks to solve a number of problems among cryptocurrency exchanges and ICOs, including all of the following:
*High trading fees (a 0.20% trading fee is average among the top 30 exchanges)
*Difficulties of real-time trading (due to rate-limited trading APIs and non-real-time transaction confirmation)
*Asset security issues (Mt. Gox, etc.)
*Exchanges can shut down without warning
*Exchanges only support a limited number of fiat currencies
*Limited multilingual support
*Poor customer service and slow KYC processing
*Low liquidity of ICO tokens
Cobinhood plans to solve all of these problems by introducing its own cryptocurrency exchange while also offering its ICO underwriting service.
The cryptocurrencies that Cobinhood will support initially are:
Cobinhood has finished its ICO as of 10-22, recieving over $13 million. Up next... Cobinhood goes live on November 1st with its beta. And aside from not having fees (and hopefully no trading limits), I am particularly interested in the fact that Cobinhood will support the trading of IOTA tokens. Previously, IOTA was only available on Bitfinex. A Chinese exchange that was shut down by the government. Making IOTA available to trade on another exchange will likely drive the value of the token.
I for one will be opening an account on Nov 1. Wont you join me in supporting this new concept!
Please hook me up with an upvote, a follow, and/or a resteem if possible. You scratch my back and Ill scratch yours (I'll upvote and follow your posts)
#Cobinhood #zerofeetrading #IOTA #crypto #cryptocurrency #stoplimitorder #Coinbase #Poloniex