Cobinhood!
Yeah! What comes to mind when you see this or hear it?
Robin hood, the legendary hero who robs from the rich to bless the poor. However cobinhood does not rob anyone to enrich anyone but instead ensures even distribution of wealth amongst every cryptocurrency trader. Isn't that awesome? It is.
COBINHOOD
Cobinhood would be the first of its kind ever since the inception of bitcoin and the wave of cryptocurrency. It'd be the first of its kind in that it would charge ZERO fee on every trade executed on the exchange platform. That is unprecedented and revolutionary. This could in the long run knock off the likes of poloniex, kraken, most decentralized exchanges like waves decentralized exchange that is assumed to be the cheapest so far.
Cobinhood is the definition of decentralization in a scope that hopes to thrive and break through the shackles of lashes from banks, media and personal assessment. What do I mean? I mean this, it allows you trade with a zero fee and works with the blockchain technology, also with the introduction of blockchain NG it would mean, more enormous transactions at a short period without no fee involved. This would definitely cause a paradigm shift in the economy of finance as it would stir up a renaissance in the mainstream as have been hoped for by the cryptocurrency world.
This not only hopes to be ZERO fee enabled, it would be secure and transparent. I'd try to talk on that a bit down the line.
WHY COBINHOOD?
There are plethora of exchanges available even though many are shutting down due to the regulations ongoing in China. We often get lost on the thought of where to actually trade and why it should be preferred over another exchange. Below are some points that should convince you on the need to start looking up to this new exchange that would change everything.
1. Transaction fee
Amongst so much reasons to pay fees in other exchanges, he most common fee you’ll encounter is the transaction fee. This is what any trading platform or broker will take as a fee for their service. This fee can vary between exchanges from as little as 0.2% to as high as almost 3%. Finding the transaction fee should be pretty easy, as most exchanges list it on their FAQ or fees section. Now we come to the second tier of fees – deposit and withdrawal fees. Whenever you’ll want to use a specific platform, whether it is a broker or a trading platform, you’ll have to deposit some money first. Depending on your selected payment method you’ll have very different deposit fees. Usually, the riskier the payment method is to the exchange, the higher the fee.
This have been a problem to traders especially those around for short term gains.
Cobinhood is here to take that off and make trading more fun. I dontbknow who would not prefer this.
2. Security
Security challenge have been another challenge encountered by traders using most exchanges as I have heard many of such complaints but there are some popular ones. We can remember the most recent of this being the bithumb hack where 30,000 customers details were compromised, bitfinix lost up to 70,000,000USD to hackers, BTCE, kraken and poloniex have all been affected in one way or another causing great loses to traders.
But that would not be possible with cobindood.
WHY?
- Simply because every kind of crypto assets deposited at COBINHOOD will be stored in an offline multisig wallet. It is estimated that 98% of assets will be stored offline, while 2% of assets will remain in an online wallet allowing for faster user deposit/withdrawal experience. This would make it difficult to be hacked as this is what have been employed recently to deal with security issues by the likes of nano ledger and electrum offline wallets.
- COBINHOOD enforces two-factor authentication (2FA) to log in. Withdrawal of crypto assets requires an extra email confirmation to protect the user’s crypto assets.
3. Insured assets
The 2% that would be online, would be insured. That's amazing, means the owners of cobinhood would be accountable for it.
4. Wide range of fiat
COBINHOOD will support a wide range of fiat currencies. Users are able to choose their preferred fiat currencies to make funds deposit or withdrawals. Fiat currencies supported by COBINHOOD: USD/EUR/JPY/KRW/CNY/HKD/CAD/GBP/ AUD/NTD. So you won't need to convert to USD or GBP or CHY before you can buy a token.
5. No language barrier
The website and app of COBINHOOD support 10 main languages, covering 98 % of the world’s population’s native language, making it the most internationalized cryptocurrency exchange. Languages supported by COBINHOOD: Chinese/Japanese/Korean/English/Russian/ French/German/Spanish/Portuguese/Arabic. No need for the stress of a translator.
6. Decentralized Exchange
In the future, COBINHOOD plans to build a decentralized cryptocurrency exchange. As the consensus algorithm of blockchain technology advances, decentralized highfrequency trading and real-time order book matching will become feasible.
7. User friendly KYC
I dislike KYC but this would be easy to fill and it will be secured. COBINHOOD will enforce bank-level KYC (Know Your Customer) processes to comply with AML (Anti Money Laundering) laws. COBINHOOD provides user-friendly identity authentication services. The process usually be completed within 24 hours of customer submission.
ICO
The ICO is currently ongoing and you should not miss it.
Participate in COBINHOOD’s ICO to sponsor COBINHOOD exchange development. COBINHOOD’s token symbol will be COB.
COB tokens are based on Ethereum ERC20 token standard.
A total of 1 billion COB tokens will be issued. 500 million COB tokens will be available for ICO. ICO Amount: 50% (500M COB tokens)
COBINHOOD Inc. Amount: 40% (400M COB tokens)
Private Placement Amount: 10% (100M COB Tokens)
The COBINHOOD ICO starts on September 13th, 2017 and continues until October 22th, 2017. Only Ethereum is accepted.
The rate of COB will be as follows:
9/13 - 9/19: 1 ETH for 5600 COBs (40% bonus)
9/20 - 9/26: 1 ETH for 5200 COBs (30% bonus)
9/27 - 10/3: 1 ETH for 4800 COBs (20% bonus)
10/4 - 10/10: 1 ETH for 4400 COBs (10% bonus)
10/11 - 10/22: 1 ETH for 4000 COBs
The COBINHOOD exchange is scheduled to go online on November 1st, 2017. COB token can be traded on the COBINHOOD exchange once it is online.
Official website; https://cobinhood.com/
Telegram https://t.me/cobinhood
Whte paper https://cobinhood.com/assets/whitepaper/whitepaper_en.pdf