Coinstocks is a US-based altcoin exchange and fiat gateway.
BY otakucrypto - MAY 15, 2018
The United States cryptocurrency regulatory environment is becoming increasingly more complex, both for Initial Coin Offerings and cryptocurrency exchanges. Just last month, Brett Redfearn, the new director of the Division of Trading and Markets at the SEC, stated that cryptocurrency exchanges are acting ‘amateurish’ in their approach to regulation. “Not a single exchange appears to be anywhere close to being properly registered with the SEC,” Redfearn said during the DTCC Fintech Symposium in New York.
This sort of language, while clearly indicative of the U.S. government’s perception of crypto exchanges, has not deterred US-based blockchain entrepreneurs from building the next generation of cryptocurrency exchanges. One such project is Coinstocks, a Florida-based crypto exchange that recently launched a full beta of their platform. Coinstocks, which is currently staging a token sale, aims to build a more intuitive trading platform that functions across desktop and mobile devices.
A leading indicator of the potential of the Coinstocks exchange is its team’s early focus on regulatory approval within the United States. Coinstocks’ CEO Christophe Verbinnen had this to say regarding their current approach:
“Even though the climate for cryptocurrency companies in the US has been complex, there is a clear path forward for cryptocurrency exchanges. Complete FinCEN Registration, Get money transmitter licenses in every state and possibly register as a “National Securities Exchanges”. This would allow us to trade coins and tokens in a single platform. Those licenses are not complex to get, but they require a proper legal team, time and money. That’s why we are raising funds with our token sale.”
Interested in Coinstocks? Here’s a quick rundown of the project:
PLATFORM & DEVELOPMENT
In a market quickly becoming saturated, Coinstocks has highlighted a number of key differentiators that they believe will elevate their platform above the competition:
- Finished Product: The project has been tested by more than 25,000 testers. Coinstocks has successfully traded more than 180,000 orders.
- US-Based: They will be licensed in all 50 states as well as on a federal level.
- Easy to Use: The interface is not meant for traders, but instead is aimed at newcomers and non-techies.
- Mobile Ready: Website is already mobile responsive and anyone can make trades directly on their smartphone or tablets.
- FIAT Gateway: They will support buying and selling directly to USD using ACH.
- Dynamic Pairing: They do not enforce pre-determined trading pairs.
CoinStocks
Upon reviewing the Coinstocks’ beta through a dummy account, it is clear that the platform is shaping up to be one of the more intuitive, user-friendly on the market. Especially interesting is the wallet overview page, which provides a real-time overview of an investors portfolio. When comparing it to the wallet overview on exchanges like Cryptopia, it’s a really nice change of pace.
CoinStocks
According to their roadmap, Coinstocks plans on concluding their beta and going live in Q2 2018 where they will begin to take community votes for altcoins to be introduced on the platform. We will watch closely to see how well Coinstocks is able to integrate credit card merchants ontop the platform, given the ongoing crackdown by these financial institutions.
TEAM
CoinStocks
The project was co-founded by Christophe Verbinnen and Benjamin Dalton, and development is led by a number of seasoned technology entrepreneurs. Coinstocks is also leveraging outsourced legal experts to help guide their regulatory path.
TOKEN SALE FINANCIALS
#UPDATE MAY 15, 2018: 167,237.00 IOX out of 6,250,000.00 IOX already sold !
Coinstocks is currently staging a token sale and is offering a number of discounts for early investors at this stage. Coinstocks’ exchange token, IOX, will be used for a number of platform utilities, including: - 50% off transaction fees (equaling .25% per transaction)
- Early Beta Access
- Voting rights for platform features and new altcoin additions
FINAL TAKE
Coinstocks is an interesting, under-the-radar exchange project that is taking a very pragmatic approach to building their platform. Given their early focus on regulatory approval in the United States, and user-friendly features, Coinstocks is positioning itself early to become a major contender.
Learn more about Coinstocks:
WEBSITE : www.coinstocks.io
TWITTER : www.twitter.com/coinstocksio
TELEGRAM : www.t.me/coinstocksio
WHITEPAPER : LOOK HERE
SOURCE : www.sludgefeed.com/ico-alert-coinstocks-user-friendly-crypto-exchange/
