The major exchange instrument within the Cobinhood ecosystem is the Cobinhood token (COB). The token is currently trading at $0.023. I said in the last article I wrote on the Offers and Benefits of Cobinhood that Cobinhood offers zero fees on all the trades you make on the platform but charge you for withdrawals. While other exchanges charge massively on the transaction and take zero withdrawal fees.
In spite of the fact that there are charges on withdrawals on Cobinhood, the exchange makes no profits from these withdrawal charges but instead they are used for paying cryptocurrency miners and also servicing the platform for better performance. However, there could be a great slash in these withdrawal fees if a trader owns some Cobinhood tokes (COB’s).
The Cobinhood Token
The Cobinhood token is the native currency of the Cobinhood platform and it gives traders special privileges. One of the major benefits of owning some COB’s is the fact that, when a trader pays for Cobinhood services using the COB, he enjoys up to 50% off the interest on margin trading loans. One other benefit is that holders of COB will get to purchase from the ICO’s of other tokens that Cobinhood underwrites at discounted rates. Holders of the COB token will also be opened up to various privileges and special offers that Cobinhood will be offering in the future.
How to Get Cobinhood tokens
The Cobinhood tokens can be earned in a lot of ways, the first method which is purchasing it from their website using some of the major coins in the market. Apart from buying COB, it is also possible for them through different avenues. Such avenues include; the Cobinhood referral program, Airdrop Center, Candy Machine and their various trading contests. Before the end of this post, I will take some time to talk about some of these methods and how you can literally earn COB’s on the Cobinhood exchange platform.
The Candy Machine
Cobinhood generated some Candy Machine tickets for traders each time they execute a trade and apart from that, you can also exchange some COB units for this ticket. What you get using the Candy Machine daily draws is an opportunity to diversify your cryptocurrency portfolio. With this machine, you can win a prize in several cryptocurrency denominations.
The Cobinhood Referral Programs
The idea behind the Cobinhood referral program is to encourage users to make new users register while in the process of doing that, they win some monetary rewards. Each time a trader invites others to use Cobinhood for trading, they get ten Daily Bonus Candy Machine Draws as commission. Ultimately a trader or user on Cobinhood could win some BTC. Also, if a referred user completes the Level 2 Identity Verification within the first month of sign-up both users get rewarded.
Airdrops
Users can also benefit from winning free tokens on Cobinhood by taking little tasks during airdrop campaigns. This is another way of encouraging users to use the Cobinhood platform for trading. The Airdrop Center is always ready to reward users that participate in these little tasks. The wins, in this case are random but can also be big; sometimes even up to 1BTC.
Lastly, it is quite comforting to know that Cobinhood is also safe and decentralized. Most of the assets stored on Cobinhood are stored online in a vault that has multi-signature features. It would take the consent of about eight geo-distributed HSM (Hardware Security Modules) to open. These cryptocurrency wallets on Cobinhood are also backed with insurance.
For more security reasons, Cobinhood demands email validation each time a user signs-in from a different IP address. In addition to this, you can also set up different security protocols such as SMS verification and the popular Two-Factor Authentication. You can easily set this up on the Cobinhood platform under the “Account” tab.
This is phenomenal guys. You can trade without commission on Cobinhood while at the same time enjoy various benefits while ensuring that your funds are safe with the security and privacy protection mechanism already put in place by the team. Get some Cobinhood tokens today and being to enjoy the maximum benefits of a COB token holder.
Thanks for reading this article. This is Bait and I am bringing words from the Offline Minnow School.